The Ms. CEO Show

Something happened yesterday and I woke up a much simpler person.  I think what happened has been stirring over the last few months as I have had some dramatic, life-changing experiences; but whatever this big bang was, it took the form this morning of a personal mental shift (sometimes called a “breakthrough”) in me. 

This calmer, simpler perspective and approach will probably show up in myriad ways in my life over the next few months but the most obvious way it is coming out now is my desire to write this blog sharing that everything—especially business—is so simple.

Want to know the really simple way to be successful in business?  Just create something that people really, really like.  When you do this, everything else will come together.  You’ll get customers because everybody tells other people about stuff they really, really like. 

That will bring in money, which you need to run your business.  Your business growth will necessitate the need for employees or contractors, and you’ll find good people to work for you because everybody wants to work for a brand that people really, really like.  Publicity?  That’ll come.  Press can’t help themselves—they love telling people why so many other people really, really like something (and the cons of why they shouldn’t, but why they do anyway). 

Taxes, accounting and all that other back office stuff required for business?  Well, you can hire the best help money will buy to take care of that stuff if you don’t really like doing it because you’ll have so many customers who really, really like coming back for more of what you created that is relevant to their lives.

Product/service.  Customers. Marketing.  Back Office.  That’s pretty much a business.  So, you see, it’s simple. Just create something that people really, really like—and you’ll really, really, really like the result.

Be Encouraged,

Felicia Joy

On today’s The Ms. CEO Show, I chatted with two phenomenal women entrepreneurs: Lyn Ross, founder of the Institut Dermed Spas in Atlanta, whose business grossed $28,000 in 1990 when she launched it and more than $3 million today; and Candi Carter, a full-time Emmy award winning television producer who created “It’s Hip Hop Baby”, an educational DVD series that helps children, 2-6 years old, learn colors, numbers and other concepts using kid-friendly hip-hop songs that Candi creates.

These two women live on opposite sides of the country, have totally different businesses and have never met but their success stories have common themes!  Here are the top ten takeaways from what Lyn and Candi shared on today’s show:

1. Don’t let life’s challenges and frustrations get you down.  Use them to fuel your business success!
2. Get up early in the morning; you can get a jump on the day before anyone or anything else can get in your way.
3. So you don’t know everything—no big deal!  Surround yourself with good people who know what you don’t know and are willing to help. (Think “interns”.)
4. Don’t worry about what you cannot do; focus on what you can do—do it, and the opportunities will unfold.
5. Listen to your gut.  Listen to your spirit.  Don’t take on other peoples’ fear and emotions.
6. Be excellent.  Get training, credentials and other things that set you apart.
7. Really know your business.
8. Connect with the true purpose of your business—you may sell a skin serum but the real purpose of your business is making people feel better and confident about themselves.
9. Don’t ever give up, just make the necessary adjustments to get better.
10. Learn the numbers side of your business—so you can stay in business!

Be Encouraged,

Felicia Joy

Alicia Ingram, founder, President and CEO of ANI Creative is Ms. CEO of the Week. Her Atlanta based firm has carved out a niche in marketing and business services to create success. Visit her company online and check out our interview with her below for more about this week’s Ms. CEO!

What is the nature of your business and how do you increase revenues year over year? ANI Creative is in the results and communications business often known as “effective marketing”. We help my clients deliver hard-hitting messages, execute creative strategies and implement practical marketing solutions that make them stand out in the marketplace. As far as our revenues, we achieve growth in several ways: 1) Always maintaining existing relationships while building new ones at the same time; 2) Creating multiple impressions – also known as branding; and 3) In this economy, having sheer determination and constantly responding to my clients most pressing needs – that old fashioned concept generally referred to as “customer service”.

Have current economic conditions had an impact on your business—how so? Like for many, business is slower than normal, but this is also a time for re-tooling and new service offerings based on client needs.

If you weren’t running the business you are running what kind would you have—or what would you be doing instead? Hmm…I was in St. Thomas and I thought the guy who rented paddle boats on the beach had a pretty good job. So yes, I would be renting paddle boats on a beach; but honestly, I love what I’m doing now.

What do you do to de-stress? Work out, work out and then work out some more.

What businesswoman (women) do you admire and why? Shelia Johnson for her authenticity; and all women in politics or business who are trailblazers.

You have political aspirations—how will you balance between politics and business? Do you see them as contradictory or collaborative endeavors?
Very collaborative, business and civic leadership go hand in hand and require the same skill set of building relationships in order to drive results. In business, results are often revenue where has in politics, it’s often sound policy.

Are you in a relationship? If so, how does your significant other support you in business?
Currently, I’m not. However, from past experience, support from your significant other is essential. It’s important to have someone who understands your business in your passion and is flexible when it comes to having to pull late nights.

Do you think image makes a big difference in a business woman’s ability to succeed—and what kind of image do you try to project? A good friend of mine and I were discussing this very topic yesterday. Image makes a big difference and yes, for women more so than men. As business women, half of the battle is managing other people’s perceptions of you. This can be your image or your brand. Physical appearance is a part of that package. People make assumptions based on your image.

What’s the biggest mistake you’ve made in business and how did you recover? So many, but most memorably, not wanting to pay attention to accounting practices…it makes or breaks a business. I hired an accountant.

What’s your favorite food; color; song; vacation spot?
Food: Pizza and Oatmeal
Color: Blue all day everyday
Song: Too many to pick just one but anything by Beyonce’
Vacation spot: Toss up between St. Thomas and Capetown

The most popular question I’ve gotten lately is, “How do I fund my business since bank loans have dried up?”  Well, there are only two ways to fund your business—with your money or someone else’s.  A combination of both—unless you’re an entrepreneur with a solid track record—is best.

Having some of your own money (or “skin”, as they say) in the game proves right away that you have a vested interest in being successful, that you believe in your ideas and ability to effectively execute them, and that you are not asking others to take a risk when you haven’t risked anything yourself.  So, the first part of funding your business is pulling together all of the personal funding that you can put toward the venture and having it ready to launch and progress your company.  Next up: Finding ways to tap into other peoples’ money.

There are a few options available when it comes to getting money from others to start or grow your business.  Here are three:

1. Microlending Community — Check out an online peer-to-peer or person-to-person microlending community.  This kind of service makes it simple and easy for mass numbers of people to lend a little money individually—and a larger sum collectively—to help people take care of all kinds of financial matters, including starting or growing a business.  The primary concern of people on these sites if you are seeking a loan for business will be whether or not you will earn the income to then re-pay the loan.  Everyone knows the pesky statistics on business failure so you’ll need to make a convincing case for why they should support your loan.  Entrepreneurial enemy number 1 when it comes to this is the tendency to talk about how great your product or service is, how cute your company name is or to talk in general about your brand.  Not convincing.  These things are important and worth mentioning.  But your main spiel should be a general overview of how you plan to make money in your business day in and day out and how your skill set, or your team’s skill set, lend well to your ability to do what you say you plan to do.  Bottom line is, whether it’s a financial institution or a fellow hard working citizen, a lender wants to know how you will make the money to re-pay the loan.  Make that clear in your pitch.  A site where you can get started is www.lendingclub.com.
2. Investment Clubs — When the stock market was flying high there were all kinds of strategies people used to take advantage of initial public offerings (IPO) and stock purchasing, in general.  One way was investment clubs where friends got together, researched companies and pooled money to purchase stock for the club.  This cooperative approach yielded great results for well-organized, goal-oriented, properly managed groups.  With times being the way they are investment clubs are not flooding the stock market with dollars but you could get a few friends together to use the same approach to fund your business.  This isn’t something you can do with strangers because of securities laws and other governmental regulations that require people to be “accredited” (have a certain networth) before they make risky investments but it is certainly something you can do among family and friends.
3. Bootstrapping — If you can muster enough personal finances to get your business off the ground then you could always grow it through boot strapping, which basically means getting the money from your customers by focusing on sales every day or every week.  This focused activity brings money into your business that you can then re-invest to keep the business growing. This isn’t the most desirable, glamorous or easiest way to grow a business but many companies have started and made it to the next level on this concept.  Despise not humble beginnings.  With good old fashioned work ethic and laserlike focus, bootstrapping could be your funding strategy for success!

Be Encouraged,

Felicia Joy

I was on Good Day Atlanta on FOX 5 today to talk about hybrid entrepreneurship, the subject of my new book; and about focus! 

We’re almost to the mid-point of the year and I can’t believe it.  Time for a reality check for us entrepreneurs.  Looking at the business goals we were aiming for when we kicked off the New Year are we on point, ahead of schedule or behind?  Perhaps it’s time for a Mid-Year’s Resolution.

No matter which category you fall into remaining flexibly focused is key.  Flexible because things crop up—they always do and always will.  Focused because even as you navigate choppy and constantly changing entrepreneurial waters, the ultimate destination—your goal—must be the draw that keeps you moving forward.

I live to boost the success of fellow entrepreneurs—especially fellow women entrepreneurs—so no matter who you are, where you are, or what kind of business you have (or no matter what kind you are thinking of starting) use me as a resource to boost your success! I believe in you and the power of your vision and I’m only an email (felicia at msceoshow dot com) or tweet away.  Follow me on Twitter: @feliciajoy and @msceo.

So, check out the Good Day Atlanta video, listen to The Ms. CEO Show this afternoon (we’re discussing how to market your business for free!) and have a wonderful day!

Be Encouraged,

Felicia Joy