FM Walsh & Associates Inc.

I had an interesting coaching session with a client last week.  Her business is growing and needed some significant changes to achieve the goals she had set.  In the last 5 weeks she has:

• Hired new sales staff
• Put together a new sales training program
• Created new job descriptions and accountability for existing staff
• Installed a new CRM program
• Hired a company to revamp your e-commerce website
• Set very clear goals on what she wants to accomplish with this company.

As a student returning to school next week, beginning to juggle classes, homework and work, I know that there may be stressful times on the horizon.  In the August edition of Entrepreneur Magazine, there is a great article that gives insight into good stress versus bad stress.  Most people only understand stress as an inhibitor that causes insomnia, depression and increases blood pressure; the results in business are ineffective management and lower productivity.

An entrepreneur can turn this stress into an asset that fuels creativity and spurs ideas.  Focus on the cause, not the outcome, to establish a simple system to address the issue and move on.  Let the initial rush of adrenaline that often marks a situation as stressful be the cue to respond quickly and think clearly.  

-Katrina 

I have come to realize that successful people constantly step out of that artificial and mentally restricting area called the “comfort zone.”  As the theory goes, that false sense of security creates inertia.  To step out of a comfort zone, one has to experiment with new and different behaviors and then experience the results of this.  People might say, “I’ve already tested my comfort zone by making cold calls,” or “I’ve stretched by doing presentations to groups,” or “I raised my rates.”

I think the key is to recognize that every new step leads to another comfort zone.  Try different approaches to the dreaded cold call, think of new and creative ways of making concise and memorable presentations, focus on bringing added value to the work you do at little or no expense to yourself.

Planning to achieve goals that make you stretch will release you from the fear of leaving the comfort zone.

- Katrina

My latest column in Make It Business newspaper is all about how to get financing for your business.  The article profiles an entrepreneur who was successful in getting the bank to finance her startup business and what she did to be successful.  It also provides tips from a small business banker on how to be successful in your bid for getting money from the bank.  Read the article here.

I love this quote.  It is good reminder to all of us, whether self-employed or working for someone else, that we all do need to know how to sell.  Even if your job is not a sales job, you still need to sell.  You work in accounting?  YES, you still need to sell.  You need to sell your boss on that promotion or salary raise you want; you need to sell your clients that you are competent and can do what they need done.  And you need to educate your clients on other services you provide, so they don’t go to your competition because “they didn’t know you did that.”

There is no escaping sales!  If you want to thrive, especially in today’s economy, sharpen up your sales skills. It will pay off more than you realize.

As a young entrepreneur, I am constantly studying other entrepreneurs’ business tactics and strategies.  As the saying goes, the bricklayer never gets around to finishing his chimney and the seamstress rarely sews for herself.  Many people in business don’t take personal advantage of their own expertise. 

 Whether it’s managing, organizing, arranging, consulting or selling – customers or clients may glimpse the entrepreneur’s personal life and see a disconnect.  Most of us are aware of this and I believe it is a big source of stress.  That nagging feeling of “I’ll get around to it,” is an unnecessary burden to carry through the day. 

For the rest of the week, treat yourself like your own client, take the advice and wisdom that you give others - finish laying the bricks on your chimney or complete your unsewn dress.  

-Katrina

I’ve been doing an informal survey these past few weeks, asking people if they do work on the weekends to catch up or even think about work issues on their days off.  Over 90% of them admitted that they do.  So it seems on our time off, even if we are not actually doing work, we are thinking about it.  Instead of being in the moment with our kids and partners or when we are hanging with friends or just relaxing, most of us are mulling over something work-related.   Have we all gone crazy?

My Friday dare to you is simply this:   You would never consider running your car without gas.  So this weekend, honour yourself and refuel your engine by NOT thinking about work, NOT doing any work and certainly NOT thinking - “I really should do a little work.”   Just relax, enjoy life and have some fun.  If works pops into your mind, just swat it away like a fly.

I’m betting you’ll find you are more productive on Monday.    Enjoy the weekend!

Working with entrepreneurs this summer, I have come to realize that time management can make or break the success of your business.  When is busy being productive?  The trap I see for entrepreneurs is that productivity creates administrative busyness.  It is easy to fill time by looking after the administrative duties of a business; that’s why many hard working people watch as their incomes drop. 

A simple approach to evaluating the productivity of your work is to list your business related activities over the period of a week.  If administrative tasks take up more than 20% of your time, these should be delegated to an assistant.  The value of your hired help can be calculated by figuring your own hourly wage when you do only what is productive.  Don’t get busy, get productive. 

-Katrina