Overwhelmed by Opportunity asks: I’ve come to a bit of a roadblock in my business. There are so many opportunities and ways to spend my time — PR, marketing, networking, partnership, events — these are all great, but I am feeling completely overwhelmed with these. How do I know what to take on and what to pass on? I don’t want to regret a missed opportunity, but I also don’t want to spread myself too thin and get burn t out . Any advice?

Dear Overwhelmed,

I hear you. I love opportunity, but I also know what it means to have more options than I know what to do with. It’s true that too much opportunity can be a detriment to success if you get bogged down in it and spread yourself too thin.

It sounds like you need to refine your focus and get really clear about what it is that you want to accomplish. Here are a few steps to get you started:

Revisit your business plan: What…you don’t have a business plan? Hmmm…that could be the root of your problems. Look a business plan doesn’t have to be some 30-page monstrosity. It can be a simple 1-pager that outlines your numbers and your goals for the next year. Having a clear plan will help you prioritize. And if you do have a business plan, now is a great time to revisit it. What have you already accomplished? What is still on your list? It’s likely that things have changed since the last time you looked, so set aside a few hours and do some strategizing.

Research what is unclear: One of the biggest reasons why entrepreneurs don’t make decisions or move forward is because they just don’t know what to do. If there is something that you find you’re avoiding, it may be time to pull that monster out from under the bed. And the best way to do that is research, reading and talking. Especially talking. Let’s say you’re considering a partnership but you don’t know how to structure it. To figure out what that entails, ask several respected entrepreneurs their thoughts or post the question online. There is power in tapping your community. The SparkplugU classes are a great way to brainstorm with other entrepreneurs who are thinking about the same things.

If you’re baffled by marketing, our own Marketing Eggspert, Susan Payton here at Sparkplugging has some quick and very focused answers in her recent post 5 Ways to Immediately Improve Your Marketing.

Focus on the immediate goals: Now that you have a plan for the next year, it’s important to start breaking that plan into manageable pieces. Write out what your immediate goals are for the next six months. It’s good to have the big picture in mind, but it does take steps to get there. Writing down what HAS to happen in the next 6 months will help you from getting distracted by all the pretty shiny things along the way.

Prioritize, prioritize, prioritize: Now that you have planned and strategized, it’s time to prioritize. What are the most important tasks, and what are the steps you need to do to get there? Add some dates to these and check off your accomplishments as you go.

If after you’ve focused, strategized and prioritized you still feel overwhelmed, you may want to weed some things off of your list. This is about getting things done and keeping your sanity in tact.

Follow up: Be sure to take time out once a week to see what needs to be done, but more importantly what you’ve accomplished. Allow yourself the option to make changes as you go – it’s inevitable and makes it all so much more exciting.

Try as we may, we can’t do everything. We can do a lot though, and a good way to get there is to plan as best we can and to give ourselves kudos for all of our accomplishments!

To finding your focus!

Starla

Lonely Entrepreneur asks: After quitting my corporate job to focus on my own business, I’m feeling in between worlds. I just can’t seem relate to the 9-5 mentality anymore. There are so many cool things going on in my life right now, but it feels like the cubicle dwellers can’t understand my life or what I’m dealing with. Does there have to be a rift between us?

Dear Temporarily Lonely,

First off, huge props for making the leap – it is one of the scariest things that you can do. It takes some serious cajones to make the switch from cubicle dweller to fearless entrepreneur. What you just did counts as a major life-changing decision. It’s exciting and fulfilling, but I’m not going to lie to you, it can also feel lonely.

It would be nice if everyone understood the magnitude of what you just did, let alone supported it, but that’s asking a lot. Some people will be happy for you. Some will be shocked. Some will be threatened and some won’t know how to react. You will grow new relationships and you will have to let go of others. Letting go of people in your life can be difficult, but holding on to relationships that aren’t working can hold you back, bring you down and be even more difficult than letting go.

Now, about those people in your life who aren’t as supportive as they used to be… There are several reasons this is happening to you (as well as many other entrepreneurs who have made a switch like yourself).

Fear: They might truly be afraid for you as they need security in their lives and they try to impose that on you. They might not know how to relate to you because you are going through some significant changes in your life. And as you become truer to your calling, you may find the rift growing.

Jealousy: Yes, there are people (many people) who are jealous of what you are doing. The jealousy is related to fear as they might be too afraid to take a risk like you have. The fact that you have taken a risk is causing others to look at their own lives and dreams – they might want to pick your brain on how you did it, or they might belittle you because of their own insecurities. Hey, you know you’re fabulous when you start to inspire jealousy!

Fear and jealousy can manifest in ways that try to undermine what you are doing or even make you feel bad. How much time should you spend explaining and defending what you are doing in your life? That’s really up to you, but in order to keep moving forward in a focused and clear direction, I would suggest that you not spend much time at all on this. There are people out there who will support and respect what you are doing, you might need to let go of some relationships that aren’t working to make room for ones that will.

How to manage:

Get out there and network. Meet others who are doing what you’re doing or who have made similar changes in their lives. There are plenty of meetups, entrepreneurial organizations and other groups out there – find them.

Nourish your supportive and healthy relationships.

Stay positive and redistribute some of the energy you were wasting back into you and your business.

There are so many amazing and inspiring people out there. It’s just up to you to get out there and meet them.

To becoming more fearlessly yourself!

Starla

This post contains uses of the word ‘recession’ that may cause panic attacks in small business owners. Readers are advised to continue reading as the following post may contain tips for growing your business even in challenging economic times.

Christine asks: “I recently left my day job to pursue my own jewelry business full-time and the economy isn’t in the best shape at the moment — do you have any suggestions or tips for those of us starting out in challenging economic times?”

First off, Christine, your jewelry is gorgeous, classic and feminine – love it. Big kudos for being FEARLESS enough to follow your dream. Starting a business is a lot like having a baby – it’s never going to feel like the right time and you’re never going to feel 100% ready. It is crazy scary, no matter what the market conditions are like. So the advice I have for you isn’t just practical, it’s emotional too. Here goes…

1. Be a sales maven. Everyone is worried about cash flow right now. That doesn’t mean that no one is going to buy your jewelry, but it does mean that there is more competition for your customers’ dollars. That means it’s time to start working on your sales skills. If you truly believe in the quality of what you do, now is the time to start promoting yourself and your business. Here’s the good news. If you can master it now, think about how good you’ll be when the economy loosens up! In the meantime, here are 3 books that will help you hone your skills:
   • How to Win Friends and Influence People by Dale Carnegie is a classic for a reason.
   • Secrets of Great Rainmakers by Jeffrey Fox is quick, easy and will remind you never to give up!
   • The Sales Bible: The Ultimate Sales Resource by Jeffrey Gitomer. The title says it all.
2. Shore up liquidity. Here’s the bad news. The mortgage meltdown has made banks less willing to extend credit, even to the most creditworthy borrowers. Now here’s how it affect you. Plan ahead. Don’t wait until you NEED the money to apply for credit. Make sure that you at least have a line of credit. At the very least, go in to the bank and apply for overdraft and then a line of credit. Don’t get in over your head right now. Make sure you allow enough time to apply and fix anything that could be getting in between you and the financing you need.
3. Get a cheering section. Don’t be surprised if people in your life warn you how difficult it is to start your own business, especially in a market like this. They will amplify that whisper of doubt in your head until you can’t think straight. Surround yourself with people who believe in you no matter what.
4. Learn the word ‘arbitrage.’ When the economy is tough, many talented people are looking for work or are looking for contract work between gigs. For you, that could mean access to skilled people at relatively low costs. Think creatively!
5. Watch your costs. No need for extreme austerity. Just take an afternoon and comb through your expenses. You’ll be surprised at how many small changes you can make and save yourself some dinero.

One more thing. Since you’re sourcing gemstones and precious metals (both of which are expensive right now), make sure you have built in a decent margin for yourself.

To creating a bold business and an extraordinary life!

Starla

John Jones III http://www.10minutes.org asks:

When should I consider a business coach, if at all?

Great question, John.

Since I am a business coach, you’re probably expecting me to say, “John, if you’re serious about your business, you should have a coach. In fact, all business owners should hire a coach.”

Nope. I’m not going to say that. A good coach knows when a client isn’t ready. A desperate coach will take anyone.

Let me explain.

First off, you can hire a coach at ANY stage of your business, but that doesn’t mean that you should. Think about it this way. A coach really is like a personal trainer. A trainer can help you if you’ve just started out on a new regimen, bored with your workout routine, trying to lose weight or training for something big. Kind of like your business. Anyone can hire one, but if you’re not going to stick with the program, it won’t be a good use of your time or money.

So here is my Am I ready to hire a coach quiz:

1. Am I willing to make the financial investment? Coaching isn’t cheap, at least good coaching isn’t. It’s a long-term investment. Yes, you will see some benefits up front, but don’t go into it as a last resort or expecting a quick fix. Real change takes time, so be sure that you’re willing to make the financial investment to make it happen.
2. Am I ready to really TRY? Like most things, you will get out of it what you put into it. If you just show up each week and expect the coach to do all the work, guess what? You’re quickly going to wonder why you’re paying someone for a bunch of questions. It’s the client’s job to go into each meeting with objectives for the meeting, updates, and questions. It also means that your coach will be pushing you to take action between meetings. Are you ready for some accountability?
3. Do I need a push? No matter how self-motivated you are, sometimes you need a push, new ideas or motivation. Again, think of the personal trainer. If you’re feeling stuck in a rut, that is the perfect time to hire a coach.
4. Do I need objective feedback? Face it, your friends and family have a vested interest in your choices and they’re probably not shy about telling you what they think. Sometimes you need a sounding board, not advice.
5. Are you willing to get naked? To make any real change, you’ve got to get naked. That means that you have to be willing to look at the stuff that’s held you back in the past. It’s vulnerable, scary and humbling. If you’re willing to go there, you and your coach can make huge strides.

If you answered yes, then the next step is how to hire a coach. That’s a whole ‘nother post, but I’ll leave you with this. You are hiring someone to be your partner. They are going to go through a lot with you, so make sure you want them in your inner circle. Trust. Connection. Respect. Those are the makings of a successful coaching relationship.

Hope that helps, John.

Starla

How do I get over it? Do I have to totally change my personality? Will it keep me from really being successful?

-Signed Scared of Selling

Dear Scared,

You’re NOT alone! This is a big topic with a lot of business owners out there. Most entrepreneurs think that it should be enough to be good at what you do. Unfortunately, that is not the case. You need to be able to clearly communicate the benefits of your product or service. That doesn’t mean you have to turn into uber-salesperson or that you have to change who you are. It just means that you have to focus your communication to make it easy for people to find value in what you do.

Here are 4 steps that might help you reframe how you think about selling.

Step 1: Determine your target market
Narrow the focus of your target market to be very specific. Fortunately for you, you have already targeted your market to include parent and soon-to-be-parents. But there are a lot of possible peripheral markets like those who might give your bags as gifts. Do you want to include them? I suggest staying tightly focused – it will make it to sell. And yes, it’s scary to exclude other potential segments of the market, but it can save you time, money and energy in the long-run.

Still trying to figure out your target market? Ask yourself the following questions:

1. Who makes up my current client base?
2. Who do I enjoy working with? Who do I wish I could work with more?
3. My skills, products, services provide the greatest benefit to…
4. Does this segment of the market have the money to buy my product/services?

Step 2: Find your target market
Let’s say that, in your case, you are focused on expectant moms. Get to know your target market – where are they, where can you meet them, what do they read, what are their concerns and what do they value? When you can connect what you do to what they value, you are GOLDEN! It’s not selling – it’s meeting a need. Can you start to see that?

Step 3: Educate – Don’t sell
Create a benefit statement that is about your client, not about you. That means that you have to go beyond the features of your business (I make customized diaper bags with 5 pockets) and talk about the benefits of what you do. Be clear about how you can make your client’s life better. An example for you might be, “Our designs are seasonal so you can always have a bag that matches your wardrobe.”

Ask yourself the following questions:

1. What’s great about what I do?
2. What benefits do I provide?
3. Can I save my clients time, money, or energy?
4. Can I tell a story about an existing client that might be compelling?

Step 4: Make the ask
When someone expresses an interest in what you offer, it’s up to you to ask them if they want to buy. The key is to make it your own. Be light, have fun, and be yourself. Here are some examples of how you might do it:

“This one sounds like it has everything you need. With that one on its last legs, it looks like you need one ASAP. Are you ready to pick a color?”

“I love the pink one for you. Which one are you thinking about?”

“Are you looking to get one today or should I call you next week and schedule a time to go over options?”

It’s about moving the person closer to action. They’re already interested, so what’s stopping you?

If you can change how you think about the selling process – rather than feeling like you’re ‘pushing’ your services, focus on educating. You will be more natural and more successful.

To fearless selling!

Starla