entrepreneur | Words For Hire

Secrets of a Solo Business Owner

October 10, 2010 by Karen Swim

I had a chance to interview, Solo Business Coach and Entrepreneur, Trish Lambert recently. Trish has decades of experience as an entrepreneur and was leveraging remote and distributed work teams long before it became the new work model. She has a particular passion for solo business owners to which she devotes, Success in Sweatpants a division of her long standing business, 4R Marketing. In this 2-part interview Trish shares her passion for solos and offers some words of wisdom for solo business owners.

Your practice focuses on solo business owners, what drew you to this segment of the business community?

A mix of things. For one thing, I became a solo business owner for the second time in 2005, having finally run metaphorically screaming from the corporate world. I know I’m not alone in finding corporate life stifling and unsatisfying, and I have great empathy with other “defectors.” Second, I have probably hit every pitfall and pothole in the process of building my business, and I would like to help other solo business owners avoid at least some of those as a result of my coaching. Another thing is that I think solo business owners are taken advantage of, whether unintentionally or on purpose, by a lot of business experts who are more interested in their own fame and wealth than in following through on the claims they make to attract clients. I want to offer an alternative that delivers on its promises.

What are the key differences between solo business owners and other small business owners?

I think that the key difference is in their objectives. The solo business owners I work with intend to stay solo. They will certainly delegate parts of the business to subcontractors, but they have no desire to hire employees, have a big office, or stockpile inventory. They want to stay solo and maintain a lot of agility in their businesses. They want to have what I call a 360-degree life—that is, they want their businesses to fold seamlessly into the other parts of their lives. Small business owners, for the most part, have different objectives. They may be building something to pass along to the next generation, for example. Small businesses are not as agile as solo businesses because they have an infrastructure with employees, capital equipment, business loans and other things that limit their range of movement in the marketplace.

What do you think 2011 holds in store for small and solo business owners?

I wish I could say that I think we are going to get out of the hole we’ve been in. After all, “they” have said that the recession is over. If that is true, that’s great, but I think it will take some time to trickle down to us. I think the best approach to 2011 for small and solo businesses is to expect another year of the same, and take the right actions to stay in business. If things get better, that is excellent, but I think we need to err on the conservative side.

What are the key things that solos can do right now to prepare for a strong 2011?

This is the time of year when I encourage people to look really closely at their books. What can they do now to ensure that there won’t be a revenue dip in the holiday season or a lull in January? What expenses can they pare down or eliminate so that they are more streamlined financially?

I also encourage people to review their marketing activities. How effective are they? What needs to be changed or dumped? What needs to be added? Can you get more creative in your marketing? Put plans in place to have a big marketing push after the holidays, because people are in “renewal” mode then and they may be more likely to purchase products and services that they would either not buy or would waffle about at other times of the year.

Do you have questions for Trish? Please ask away or add to the discussion in the comments. Trish is currently running a contest for solo business owners and in part II she will share the behind the scenes experience and the lessons learned from developing and executing a contest. I hope that you’ll not only enter the contest but come back and read part II of the interview.

Trish Lambert is a solo business coach and entrepreneur. Her coaching helps solo business owners to stop spinning their wheels and produce the right results in their business. A fervent believer in no gimmicks, just RESULTS, she helps solos to move forward toward their goals.

Dubious Deception and other Corporate Tales

April 17, 2009 by Karen Swim

Written by Karen D. Swim

Today’s post is a bit of departure from the usual fare. It is a story and yes it’s true but all is not as it appears. Put away your scarlet letters and put on your cloaks of creativity. Play along and I’ll provide the answer at the end…or at the very least a clue. 🙂

It began with a glance across the room, a small spark of interest ignited, as though we had a mutual secret. Soon I invented reasons to be in the same place my heart churning with each hushed conversation. It was all innocent really; I was not cheating, it was just talk. My new “friend” was interesting and seemed to awaken long forgotten desires. In “his” presence, I felt like a giddy schoolgirl. I blushed with each new discovery and even my failures to understand delighted me. Each moment of our time together was seared in my memory with snippets spilling out at odd moments beckoning me to come back for more.

I began to look forward to our meetings. You made me feel wanted and alive. I was a little afraid of how I felt but then reasoned that it was only harmless flirtation, and no cause for concern.

But of course the infatuation grew and I took the next step. I left that first day with a furtive glance over my shoulder. How could I have allowed this to happen? Consumed by guilt I returned home. Unable to look my love in the eye, I took a deep breath and got to work.

That night I thought of my wandering ways. Yes, I strayed but it was only that one time. It would not happen again, I wasn’t even good at it! How could I possibly think that anything would come of it with so many experts surrounding you.

I felt guilty but strangely satisfied by my tryst. I stretched and smiled secretly wishing for another chance. But then I saw my commitment out of the corner of my eye, peeking from the pages of my calendar and I was consumed with a new wave of guilt. Oh gosh, what had I done? You have stood by me in the darkest of hours, providing for my needs. You kept a roof over my head and fed me those soy dogs I love so much. I don’t want to let go but lately our time together has been so, well routine.

I was feeling unappreciated and taken for granted. But my flirtation gave me a new purpose. I feel important and needed. I even like “his” friends. I love hanging out in their forums and chat rooms and listening to their discourse.

I don’t want to hurt you but I had to come clean. Actually, my flirtation is a good thing. It has renewed my enthusiasm for you. No, no don’t cry I won’t leave you entirely but I have to admit you are going to have to share me and I know that might be hard.

Clue: I am me but “him” is deceptive.
Clue 2: This is a totally G rated post, pure as the driven snow.

It’s Friday, and time for a little fun so play along by sharing your best guess in the comments. Remember it’s G-rated. I promise to tell all in the next post.

Ebb and Flow

April 9, 2009 by Karen Swim

Written by Karen D. Swim

It has been a quiet week here at Words For Hire. As everyone turned their attention to Easter, Passover and spring break it was an excellent time to slow the pace, and flow with the rhythm.

When I first started my businesss, I never took time off around the holidays. One year on January 1, I realized that everyone else had taken off and I really could have taken advantage of the slow down to rest. Of course I realized it the day before everyone came back renewed, refreshed and ready to kick it into third gear!

I’m now older and a little wiser. I’ve learned to tune in and when the pace is slowing, I enjoy it by slowing down too. Without the barrage of emails and activity this week , the work pace felt downright leisurely. I even managed to make some headway on brand new personal projects.

I hope that you’re enjoying a bit of a breather this week too. But before you take off for the weekend please pop over and wish my dear friend Joanna Young a Happy Blog Birthday! In two short years, Joanna has built a thriving blog community that has taken it’s rightful place as one of the leading writing blogs.

Robert Hruzek’s latest group writing project, What I learned From Adversity is open until Sunday at midnight. Group Writing Projects are an excellent way to stretch your writing muscles, meet other bloggers and have some fun.

Today is my Gran’s 90th birthday. We’re having a family gathering to celebrate on Saturday. Sunday, will be church as usual and on Monday I will be lounging in my PJ’s watching cartoons! I’ll resume the normal schedule on Tuesday. Have a wonderful Easter, Passover and weekend!

Got any fun plans this weekend?

7 Limiting Beliefs Fatal to New Business Owners

January 7, 2009 by Karen Swim

: Image by Wease via Flickr

Written by Karen D. Swim

Many of you left behind the shackles of employment to brave self employment in 2009. You are basking in the glow of your freedom as you realize that no one is the boss of you. Put down your bowl of Froot Loops® and step away from Oprah because I am going to save you money and time by helping you avoid the mistakes common to new business owners.

You are an entry level employee required to work your way up the ladder to earn the promotion. Welcome to self employment . You have been promoted from chief bottle washer to chief of everything. Start acting like it.
Fees are based on time in business rather than value offered. Yes, you are a new business owner who will have to build a portfolio of successes but presumably you can actually do the job. Your past experience has value even if you obtained it as an employee. There is a prevailing myth that new business owners must charge below market value in order to establish their worth. This is utter hogwash. I am quite frankly puzzled by the thought process but let me clear it up for you, your clients are paying you for what you can do for them. It’s up to you to price it accordingly.
People will do exactly what they say. Contracts exist for a reason. You do not have to overwhelm your clients with lengthy agreements but you should document the scope of work and terms and gain agreement in writing before you begin a job. Whether you sell a product or service, the terms and expectations should be articulated in writing.
Business will come to you. You meet someone in line at the grocery store and get into a conversation that results in them saying they need your services. You give them your card and they promise to call after the new year. Bless your heart, you believe them. You have to develop leads, and follow up with them. I’m not proposing that you stalk them but follow-up is critical. People get busy and priorities shift. If you don’t follow up, when the problem crosses their radar screen again, they are going to call the person that comes to mind and it may not be you.
You cannot afford to hire help. Hire early and hire often and you will earn more and avoid the trap of equating being busy with success. Build the cost of a Virtual Assistant (VA) into your jobs. Many VA firms have pay as you go structures so that you are not locked into a long term contract. You will make more per hour when you share the workload.
You have to know everything. As an employee when you did not know something, you did not declare yourself unfit for your job. You gained the knowledge you needed to do the work. Knowledge is easy to obtain. Do not allow it to hold you back from pursuing a bigger project, or trying a new challenge.
You have to know everything today. Knowledge is so easy to obtain that you are now attending three teleseminars per week, subscribed to 100 must have newsletters and have more ebooks than files on your computer. Limit the information to what you need to know and will apply now.

Being in business is hard work but so rewarding. However, you don’t have to suffer the newbie blues by making blunders that can be avoided. Don’t be afraid to ask for help if you get stuck. There is always someone who either knows the answer or can point you to someone who does.

Please feel free to add to the list with your tips, suggestions or questions in the comments.

Resources

StartUp Nation – Discussion forums, community support, resources and vendors

Freelance Folder – Blog, forum and resources for freelancers or solo professionals

Success In Sweatpants – Sweatpants Manifesto, Coaching programs and advice on building a 6-figure freelancing business

IAC Professionals – VA firm that offers a wide range of services including admin, accounting and marketing

Business Tools and Resources – Communication, bookkeeping and other tools useful for any business owner

3 Reasons Why Purpose is Essential in Business

October 2, 2008 by Karen Swim

Image by a VeCeS Veo… via Flickr

Written by Karen D. Swim

I received an email newsletter and video from BrandU this week. In the video, Kim Castle shared a story about a Native American Long Dance ceremony and tied the lessons she learned to being an entrepreneur. I was struck by a comment she made regarding purpose and its role in the entrepreneurial mindset. Kim noted that the leader of the ceremony was “on purpose.” She had a tangible vision and determination. She was not asking the market what they wanted or how they wanted to be marketed to, but followed her purpose. The result? People flock to the ceremonies and they continue to grow nearly two decades later.

We are bombarded with messages that tell us the how, why, should and must of business. Much of the information is solid but blindly applying it can be deadly to your spirit and your business. Here are 3 reasons why Purpose is essential in business (and life!):

The court of public opinion is sometimes wrong. If you ask people what they want and how they want it, they may give you what they want but not necessarily what they need. Let’s face it we’re all pretty good at Monday Morning quarterbacking but so often we would not follow our own advice! Results don’t always come the easy way. When you have a clear and definitive purpose you are able to put feedback, suggestions and opinions in the right context.

Purpose breeds consistency. A clear determination to live “on purpose” provides a steadfast inner compass that will help you maintain consistency in action and results. When you are clear on your “why I do this” it will guide you in your day to day business activities. You will not take shortcuts, or compromise your standards. People can count on you to do what you say over and over. In business and life, your reputation is everything.

Purpose gives you a solid foundation. I have been acutely aware of this recently. Many are reacting to the economic climate with depression and desperation. Admittedly, it is challenging to filter out the negative information and soldier on, even tougher on a slippery foundation. However, when you are assured and committed to your purpose you can stand on that rock solid foundation. Your purpose will keep you grounded in good and bad times. Your plans, decisions and actions will not be driven by temporary conditions but your purpose. The storms may rage all around you but purpose is your lighthouse.

Whether you are an entrepreneur, employee, blogger or stay at home parent, life requires you to have strength of character. Without it you risk being tossed to and fro by the whims of life. Purpose keeps you connected with your internal compass, vision and values. It will not prevent you from ever making mistakes (I can personally validate this fact!) but will provide an objective standard to get you back on track when you blow it.

Are you clear on your purpose? Have you ever compromised your purpose out of fear or public pressure? What were the results? The mic is on and it’s your turn. Share your insights, comments and experiences. It’s fun to discuss and learn. 🙂

Related articles by Zemanta