No Money, No Connection, No Plan: Monica Flores
April 2, 2008 by akemi · 5 Comments
Recent survey shows 72% of American workers want to have their own businesses.
Welcome to the third post of the Interview With Successful Entrepreneurs series. I hope this series shed light on your path to your own dream business. While I knew firsthand many people wanted to become entrepreneurs, I am impressed to read this article exactly how many of us yearn to be their own boss.
The words of those who actually have made it is like gold for aspiring entrepreneurs. This is why I have this interview series. Learn how they handled their challenges – each challenge is unique, yet you will also start to see patterns as you read more posts. I plan to post for this series two to three times a month, so stay tuned!
Today’s interviewee is Monica Flores, who contacted me after reading the first post of this series. I love people who actively seek opportunities – that is the spirit of great networking. In addition to her business website, Monica writes a blog called A Successful Woman.
1. Tell us a bit about your business and why you started it.
My partner and I do web design and development for women, minorities, green businesses, nonprofit groups, and membership organizations. We’re minority-owned, woman-owned, and green certified. We’ve been creating websites since 1999 but launched our own company, 10K Webdesign, in 2004 from our kitchen table. From there we’ve grown and now have clients and partners from all over the United States. We specialize in highly functional and effective websites that help our clients spotlight their success, make more sales, and connect with their community.
We started our business because we saw and targeted the real need for “regular folks” who wanted to establish themselves in their business or initiative with a professionally-designed website but who wanted to be smart about maintenance and updating their own content. All our tools use back-end administrator panels so our clients are able to make content edits without having to rely on someone else to maintain their site and keep their website current.
We also believed that a focus on community-building would serve our clients well, so we’ve maintained our outlook to be one where entrepreneurs, consultants, and member organizations may connect with their fans and customers online.
2. What were the three biggest challenges when you were starting off as a new entrepreneur?
- Very little capital
- Minimal networking contacts
- No real plan
3. And how did you work through these challenges?
Very little capital
Like may people, we didn’t go for bank financing and instead we bootstrapped it and put a lot on our credit cards to get through our first few years in business. It takes a lot of faith, a belief in your market, and of course lots of *sales* to make it through those initial stages. Many businesses close up shop after a few months because they don’t get enough business…. we were lucky in that we had one long-term contract and we worked hard to find more and more. After those first two or three years, it definitely became easier because we had an established record and many more customers vouching for us.
Minimal networking contacts
We overcame this by joining a BNI (Business Networking International, a professional networking group that admits one person per profession into each chapter) and networking with just about anyone who we thought would be a good fit for us. At first, you will probably have to identify the types of people who will be more helpful to you… some people will not naturally have a mutually beneficial relationship with you, so go for the people who either
A) know more people than you do or
B) are in a position to make purchasing decisions or can make higher-level decisions.
It also helps if you establish relationships with people you would naturally do business with or refer business to / for us, we work closely with graphic designers, computer networking gurus, printers, print brokers, and even other web designers who are not as strong on the programming side. These constitute our natural circle of referrals.
No real plan
I don’t know if this was so much a challenge or even a blessing in disguise. I think many people just starting out get mired in “analysis paralysis” and think they need to write another business plan or develop another research plan. For us, we had a two-page business plan to begin with, but our biggest efforts went into meeting and landing potential clients. As we became more aware of what our market needed, we targeted our efforts even more and spent a lot of time doing research and development to create our tools, which we now sell on a regular basis. If you have a product or service, start selling it and see what the response is: to me, that’s better market research than anything else.
4. What is the best part of being an entrepreneur for you?
Freedom was, for me, the most important part of launching myself, and the ability to control my time is one of the best parts of being in business for myself. Because we’ve been able to find such great staff who help us with all aspects of our work, we’ve been able to identify and target those parts of the business that we both enjoy and are good at.
What I’ve also found as added bonuses are the ability to contribute proactively to my community, the ability to have more volunteer time, the ability to share my gifts and talents in many different ways like speaking, blogging, serving on boards, the luxury to have time to think about different ways to participate and “show up,” and the time I am able to have with my family and to pursue my own creative interests.
5. Any advice for people who dream to have their own business and yet find it hard to make the leap?
I think someone has to decide their own risk tolerance and what they want to get out of their business. Plenty of people are able to do freelancing, part-time work, online sales, or some other combination and don’t have to leave the safety and security of their full-time job. Many other people are able to piece together multiple projects
along the way and don’t feel the need to launch their own full-fledged company.
If someone dreams of having their own business, probably two good questions to think about would be
- why they want this
- what success would look like to them
You’re basically replacing one customer (your boss) with many customers (your clients). This is a good thing for some but a bad thing for others!
Also, if you’re starting your business, figure out what your exit plan is. Do you want to build a business and then sell it? Do you want to build it and pass it on to your children? Do you want to build it and then retire from it? What does the success of your business look like to you?
Once those questions and other larger questions about industry or type of business, partners or investors, processes, incorporation vs. sole proprietor, staffing, etc. are answered, then my advice would be to just go for it. Nothing is really stopping you except yourself.
My Takeaway
Thank you, Monica. She is a great social entrepreneur. Low capital is a common challenge for new entrepreneurs because it often takes more money to build a business than you might think and longer time to make enough sales and collect revenues. But don’t be too scared – it can work as a motivation for sales. Many of us are afraid of doing sales, but it’s something we must learn if we are to succeed as entrepreneur. And with determination like hers, it’s very possible to build a network from scratch. Great work, Monica, keep going!
Making A Brand Out Of Adversity: Stephen Hopson
March 25, 2008 by akemi · 14 Comments
Become the next interviewee for the Interview With Successful Entrepreneurs series!
This is the second post of the Interview With Successful Entrepreneurs series. Before I introduce today’s great interviewee, however, allow me to report the surprise comment I received regarding the first interview. My intention for this interview series is to learn the insider stories of successful entrepreneurs that inform and inspire my readers. And Christine O’Kelly gave us such a story! When I read Nathalie’s comment, however, I realized I also created a potential goal for some aspiring entrepreneurs. Yes, I’d be honored to interview you when you become a successful entrepreneur! Stay around, learn whatever you need from me and other entrepreneurs, and make your dream come true. For me, this is like a miracle gift for my effort, to be able to offer something you can look forward to.
How can we turn adversity in life and in business to success?
Another miracle, a synchronicity, was taking place that day when I published Christine’s interview. I heard about Stephen Hopson at Andrea’s blog and emailed him earlier. He emailed me back just when I posted the interview and commented on Christine’s post for that day. Her post was about the lies we tell ourselves that effectively keep us broke, lazy, and stuck in where we are. So I disclosed one of my own lies, that public speaking is tough for me because I have accent. Christine commented back mentioning Stephen, who is a professional motivational speaker despite the fact he is deaf. So Stephen joined the discussion in her comment section. It was like the dots here and there in the big blogosphere came to connect at that miraculous moment.
Through that discussion (you really should check it out – Stephen almost took over Christine’s comment section), I learned how I can turn my perceived disadvantage to an advantage that sets me apart from the crowd. He said, “We can turn whatever so-called disadvantages that we might have and turn them into assets. Like my speaking despite being born deaf. I’d be crazy not to use that gift, right?” Can you believe this — he actually used the word “gift” for his disability. I was shocked. I’ve been writing about the importance of expressing ourselves in business, the “I Factor,” and yet this was a revelation for me. The result (one of it – more to come, of course) was my recent post, Is Becoming An Entrepreneur Harder Than Surviving In A Foreign Country?
So here we go, Stephen Hopson of Adversity University. Check out the video clip of his speaking demo, too. It includes the story of his spiritual awakening, which led him to quit his high-paying job on Wall Street.
1. Tell us a bit about your business and why you started it.
Obstacle Illusions is a LLC that was actually legalized in November of 2007 in an effort to turn my speaking and life coaching into a business platform to teach people who are ready to explore and overcome adversity because no one is immune from it – adversity does not discriminate. My services include fun and passionate presentations so that the audience can come to the conclusion that overcoming the impossible is truly possible if they have the heart to persevere. In essence, I teach people the power of transforming adversity into success.
2. What were the three biggest challenges when you were starting off as a new entrepreneur?
- Learning ways of getting my name out there, creating opportunities to be called upon to give powerful keynote presentations for organizations seeking inspiring speakers with a powerful message.
- Defining my target audience
- Defining and honing my message
3. And how did you work through these challenges?
There were several ways I went about doing this including but not limited to writing several articles, submitting stories for books like Chicken Soup for the College Soul: Inspiring and Humorous Stories About College
4. What is the best part of being an entrepreneur for you?
Having no one to report to, setting my own hours and doing what is best for me, rather than slaving away at the beck and call of an organization that might not allow me to pursue my life’s mission in the manner I was called by God to do.
5. Any advice for people who dream to have their own business and yet find it hard to make the leap?
Those who take the risk and take a leap of faith in the unknown are usually rewarded immensely for their faith. Following your intuition and trusting your instincts are the best ways to move forward. Be open minded and let others help you but understand that ultimately the decision is yours to make. Only your inner spirit knows what’s right, not others. Be willing to make a stand for authenticity and you will be rewarded far beyond your wildest imagination. See obstacles as opportunities in disguise and know how to surrender, not give in. There’s a big difference between the two. Giving in is like giving up whereas surrendering the outcome is trusting that what’s meant to happen, will happen. Do what your heart asks of you and trust that you will be led to the right opportunities, the right people, the right path to take. Keep trying but don’t bang your head against the wall for that won’t serve you.
My Takeaway
Thank you, Stephen. I understand the challenge of marketing, and I am impressed he has created such a powerful brand for himself. He is truly a one-of-a-kind man who heightens our spirituality. And I promise I stop banging my head against the wall – my next door neighbor will be glad, too.
Interview With Successful Entrepreneurs
March 18, 2008 by akemi · 16 Comments
I am so excited to deliver the first post in the Interview With Successful Entrepreneurs series.
As I maintained in If You Want To Become An Entrepreneur, Be With Entrepreneurs, it is critical for aspiring entrepreneurs to learn the entrepreneur mindset directly from successful entrepreneurs. So I scout out successful entrepreneurs online and offline and ask for interviews.
My definition of “successful entrepreneur” is someone who has built a profitable business that resonates with who he or she is.
If you are not happy with your enterprise, it is not worth bothering to build the business. It is about passion. At the same time, it is not only about passion – it is a business, so it must be profitable. When you clear these two criteria, then it is up to you how far you want to take it. I respect the owner of a closely held micro business just as much as the owner of a multi billion dollar public corporation.
If you are such a successful entrepreneur, please contact me. I’d be honored to interview you.
Now the feature interview. Christine O’Kelly is a SEO marketing and copywriting expert. She has been writing and publishing since childhood. Moreover, she was an accomplished salesperson in her previous jobs and brings that experience into her business. Be sure to also check SEO Copywriter and her outstanding blog, Self Made Chick.
1. Tell us a bit about your business.
As an SEO copywriter, I help businesses market themselves online by creating content that is optimized for search engines – and most importantly, for humans. I provide website content, press releases, landing pages, articles – and many other types of content that help businesses increase their search engine ranking and build engaging relationships with their customers.
2. What were the biggest challenges when you were starting off as a new entrepreneur?
Certainly one of my biggest (perceived) challenges was having no capital whatsoever. I mean, I was really broke. I barely had enough just to pay the rent, internet, and phone bill. Just after I quit my job, my computer broke and I started my business on a $100 clunker that I bought on Craigslist. When you are broke like that, your spirit can feel really weak – and that is probably what is more difficult than actually being broke is feeling helpless.
Another challenge was that I didn’t think that I was good enough. I think that is a lie that everyone tells themselves. Everyone is good enough to provide some level of service no matter where we are on the
expert curve.
3. And how did you work through these challenges?
It wasn’t an accident that I ended up in this situation where I was broke. I put myself there knowingly. I had tried to start businesses on the side for years, but because I didn’t NEED them to succeed, they didn’t. When I quit my job and had no other options, I knew that I was either going to have to make it, or else. I knew that if I had a life preserver that I would get desperate and grab onto it so I jumped in without one.
I knew that I, like most people, had a habit of justifying ways of not pushing forward when things got tough. That might mean saying “I’m tired, I think I’ll go watch something mindless on TV just to unwind and let my brain relax.” I didn’t want to give myself any excuses not to be 100% focused. I got rid of TV for 2 years and only read books or occasionally watched movies. I was vigilant about only putting information into my mind that I thought would benefit me on my quest to become successful. That may be a little extreme, but I put myself into an extreme situation and I decided to take extreme measures.
4. What is the best part of being an entrepreneur for you?
The best part about being an entrepreneur is that you can see so many more possibilities in business and in life. Suddenly, anything really is possible. When I was working the 9-5, I had heard that this was possible and wanted it to be true, but I never felt that. It’s like there is this invisible dimension right next to us that you cannot see unless you are in the right mindset.
5. Any advice for people who dream to have their own business and yet find it hard to make the leap?
Really, you just have to do it. You have to stop thinking that you’re insignificant and that you can’t possibly make a difference because you can. Someone needs exactly what you have to offer. You need to go for it even if your competitors are more established. You need to go for it even if you’re not an expert yet. A little bit of action over a long period of time ends up to be something quite significant.
My Takeaway
Thank you, Christine. I am so impressed with her focus on success. Becoming an entrepreneur does involve risks and it is scary – we need to focus on moving forward despite the fear. It is also intriguing that she points out the sense of new possibilities as the #1 reward of entrepreneurship. We can make money in so many ways, but the spiritual awakening is priceless.
Enjoyed this interview? Read on to the next interview here.
