FM Walsh & Associates Inc.

I met Sarah at one of my seminars: 10 Deadly Sins of Business Development.  What struck me about Sarah is how much success she has already had as a young entrepreneur.  In 2006 she opened the door to Feminine Form - a fine lingerie retail store, that caters to women who are sizes 30 A to 44 H in bras, body shapers (such as Spanx) and small to 1XL in lingerie.  The majority of their bras are French, but they do carry other European brands, as well as those from North America.  The store is gorgeous and she has been incredibly successful.  You can find her at # 105 – 4061 200 Street, Langley, BC or call her at 604-532-9449.

My biggest struggle is balancing motherhood with work.  My eldest is now two and a half and my youngest is seven and a half months.  I began working on my store when my eldest was seven months old.  I am very fortunate to have great extended family support and assistance with childcare.  I do not, however, put work first.  I put my children first and work must go around their schedule.  When I cannot be at my store, I have excellent staff and a key person in charge to make sure that the wheels keep turning and moving the business forward.

It is hard to pick one greatest success.  I feel that there have been a couple milestones which have made a difference in my professional life. The greatest emotional success was fitting my first breast cancer survivor with a bra that she loved. I was able to find her the perfect fit very quickly and she visits the store every couple of months for a chat and to pick up another bra.  Ever since that first experience, fitting breast cancer survivors with a bra they love and that makes them feel womanly is my favorite thing to do. 
My greatest material milestone was winning New Entrepreneur of the Year from the Langley Chamber of Commerce for 2007.  It was a great honour to be nominated, let alone to win.

The biggest mistake I see women do is blame men.  I hear a lot of women claim that men in the workplace are threatened by them, or hold them back, or their husbands are not supportive, or some other sort of man based excuse.  That may have been the case years ago, but in today’s marketplace it is no longer relevant.  
The second error that I see is that too many women bring their emotions to work. They make a “clique” with certain women in the workplace and wonder why the men, and some  of the other women do not respect them.  I have witnessed women of all ages revert to the high school type “in girls” club in the workplace where they gossip and indulge emotional behavior.  It is completely inappropriate and will not help them to succeed. 
The third error I see made – more often by women, than by men – is working harder, not smarter.  Yes hard work is essential, however, efficient labour is much more productive that greater amounts of general labour. 

 If you were to run into your 18 year old self, what secret to business success would you share with “you”?

I would tell myself “your lofty goals are 100% attainable even if everyone else thinks you’re crazy.  Also, dream in color!  Without the full picture you do not have a clear vision of what you want.  If you can see it, you can reach it.”

As I begin to create my own company, I have started to gather information on how to create an effective company logo.  Business logos need to show that your company is distinct and original from other companies,  as well as building brand recognition, while representing the company’s interests.  The most effective logos that I have seen are ones that are simple with powerful colors.  A key question that business owners often forget to ask in the design stages - will your logo look good at any size?   How will it look on a business card, coffee mug, or even the side of a bus?

–Katrina

I have been at 2 networking events over the last week and both times I met interesting people who did not have business cards with them.  The cardinal rule of networking is to always have business cards with you.  You never know who you are going to meet.  So here are two tips for making sure you don’t forget your business cards in the future:

1.  One woman I know puts business cards in the pocket of every suit jacket in her closet - that way she always has a stash with her.

2.  I put business cards into every purse I own.  That way I never forget my business cards when I change purses.

Dr. Carolyn Anderson is truly extraordinary - she really thinks BIG!  In addition to being an eye surgeon, she is also an author, motivational speaker and entrepreneur!  She owns 6 companies - Dr. Carolyn Anderson Eye Surgery, Langley Surgical Centre, Images by LSC, Impower Age, Impower Med and Impower Women.  We sat down over dinner and she shared the following tips for building the life you want.

The combination of medical doctor and entrepreneur is a rare one;  what fueled you to become an entrepreneur?

My driving vision has always been to touch as many lives as possible;  I wanted to bring that to life and I felt the best way to do that was to build different businesses.  The best part of being an entrepreneur is the excitement of not knowing how things will turn out.  You get an idea, you start building and it always turn out different than you expected.  And I like having control over my destiny -  it is up to me to make my vision come to life, to build the life I want.

I am going to ask the question every woman is thinking right now:  How do you do it all?

It’s a combination of wanting to accomplish certain things and then doing only those things that are impactful and that move me forward.  I hand off the stuff I don’t like doing and that I am not good at.  The one thing that has really driven my success has been learning to leverage and delegate.  I get my team on board with new business ideas - I get their input and ideas on how we can make an idea successful.  Combining our expertise and energy we have accomplished some remarkable things!  All of them have a do it now attitude.

Another important thing is self-care.  I get up at 5AM and work out every day - it gives me energy.  And then I just hang for a half hour writing in my journal, reviewing my goals and meditating.  This gets me energized and focused for the day ahead.  Too many women spend all their time looking after others and give nothing to themselves.  You have to recharge your batteries on a daily basis if you want to be successful.

I have always been extremely goal-focused.  Every day I write down 6 key things to get done that day - 1 key thing for each business.  This keeps me always moving forward and focused on what I need to bring me success.

I also do a weekly planning process;  every Sunday evening for 1 hour, I sit down with 8 blank sheets of paper - one for each business and one each for Family and Fitness.  I have a goal for each one and then quickly write down all the things I can do this week to move forward and accomplish that goal.  I know that even if I only get one thing on each sheet, I am getting closer to making that goal happen.  I have been doing this for years and it works really well for me.  The key to building success is not doing the occasional big thing - it is actually about building continuous improvement on a daily basis.  I am always asking myself:  What can I do this week to move myself forward?

Talking with Dr. Anderson is very inspiring.  The tools she uses are simple and extremely effective.  If you find yourself struggling to get the important stuff accomplished on a daily basis, give her tools a try - I think you’ll be surprised at the results you’ll get.

I got a call from the new business account manager at my bank last week;  she called to introduce herself.  I told her I was surprised as I had never received any kind of contact from this bank since I had opened the account.  I also told her that I did not recommend this bank to any of my clients or in my seminars because of the lack of service.

Her response?  Nothing.  She repeated her name and phone number and told me to call her ‘anytime’.  She did not ask any questions about my business or what I did, made no attempt to fix things.  It was obvious that she had been told to call a list of customers and she was going through the motions - nothing more.  She blew a golden opportunity to turn me into a satisfied customer and has, instead, ensured that I will switch to another bank.  And the irony is that I would prefer that the bank fix things, rather than having to switch accounts.

Take a look at your existing customer list - what can you do to make them feel glad to do business with you?  Usually it is as simple as a thank you phone call or a short note of appreciation.  But if you are going to pick up the phone - do it with sincerity and a willingness to fix things.  Otherwise don’t bother.

Who doesn’t love fresh-baked cookies and milk?  I just stumbled over my dream business idea- Insomnia Cookies.   Started in 2003, by some undergrads at the University of Pennsylvania, this combination retail store and delivery service offers fresh-baked cookies to midnight snackers. They also do corporate catering and clothing.  Check out their expansion plans here.  This is a great example of spotting a niche market with a need and going after it.

If you are wondering what domain name to get for your company, today’s column comes from the experts at Eat My Words - a boutique naming firm in San Francisco. They have shared these tips for choosing a good domain name.

1. Don’t give up on a great brand name if the domain is out of reach. 

2. Don’t give up on a great brand name even when the domain appears to be in use. 

3. Don’t think just because a site is “parked” that the price is astronomical. 

4. Don’t think “not for sale” is written in stone.  

5. Don’t name your company something just because the domain name is available on GoDaddy for $9.95. 

6. Don’t get a domain name that is spelled differently than it sounds like Naymz or Takkle. 

7. Don’t leave out vowels ala Flickr. 

8. Don’t put dots in your name like del.icio.us. 

9. Don’t come up with your name over a bottle of wine. 

This article is great reading - lots of great stories!  Check out the whole article here.

As I come up with new ideas and suggestions, I often find myself receiving constructive feedback from many.  When I first began, I found this feedback somewhat intimidating and I felt uncomfortable sharing my ideas with certain people.  I thought I wanted feedback from only those who would be positive.  I also felt the “constructive” criticism needed to be validated by three or more people who I respected.  It was important to me to be both supported by and accountable to these people.  Mentorship and support can always be important when receiving and acting on feedback; I have found that new ideas and thoughts are brought to life by constructive criticism. 

For the next month, try to be around colleagues who will give you the kind of feedback that will get your ideas flowing.

-Katrina

Today’s interview is with Tamera Olsen, Executive Director, Mortgage Brokers Association of BC.  A very high-energy woman and mother of two boys, she has held some interesting jobs in the non-profit world and has some great advice for women in business about setting limits.

What is your current job? 

Executive Director for the Mortgage Brokers Association of British Columbia.

What do you do before this job? 

Executive Director for the Professional Ski Instructors of America/American Association of Snowboard Instructors – Northern Rocky Mountains.

What do you feel is the important thing you have mastered to contribute to your success?

My vision, diplomacy, integrity, conviction, and passion.

How do you balance family and work?

I don’t own a blackberry. I turn off my cell phone in the evenings. I work hard at the office so that I can focus on activities with my family when not at work.  I firmly believe in a work/life balance and my family comes first.

Words of wisdom for women entering the business world?

Negotiate your terms.  It is important to understand that you’re worth it. Without being pushy or ungrateful, counter job offers with competitive salary recommendations and decent benefits.  This positions you much more favourably when annual increases come up, and puts you higher on the corporate ladder.  It also shows you as a professional who deserves respect, in that you are capable of taking charge of your career. Lastly, maintain a work/life balance for ultimate satisfaction.