Showing posts with label business goal. Show all posts
Showing posts with label business goal. Show all posts

Saturday, May 17, 2008

Goalsetting, or Tips on How Not to Blog

Forgive me readers, for I have sinned. I have broken the cardinal rule of blogging, which is, well, not blogging, or failing to blog. I could say that I've been busy with work (true), or I've had visitors (also true) but the reality is that it's mostly been plain 'ole writer's block (aka perfectionism/procrastination/paralysis). I find a million other things to do instead of putting my thoughts down on “digital paper”. They say we're our own worst critic but sometimes it’s like I have two TV sportscasters (let's call them Frank and Joe) in my head and instead of sports they're giving me instant replays and analysis and commentary on every little thing that I do or don't do. And if I can't do something perfectly, or exactly right, forget it. Drop it. Don't do it at all.

Luckily, since I started working for myself I've learned a few tools for when I get stuck like this (although sometimes it takes a while to get around to them – thanks Katie for nudging me!). First, I fire Frank and Joe (these little rascals tend to sneak back in when I'm not paying attention!). Second, I get out my bag of "tricks". These are little stunts I pull to "fool" my mind into doing things, like telling myself to forget about all the mistakes until the end and just write. Other times I'll need to bring in the big guns (multiple calls to my action partner). Setting a deadline or a specific date for me to post on my blog has also helped (not always). But every week it's like I'm starting from scratch. The pen feels like it weighs 800 pounds. The computer is covered in kryptonite, and I’m Superman.

When it comes to my business, the same thing happens. There are tasks that feel so easy to do (playing around with pictures and colors and fonts for my new, soon-to-be-released logo; web surfing in the name of "market research", checking email every 5 seconds) while others are frightening (usually the ones that lead to actually generating income, like making a list of target clients and writing marketing proposals). If I put things off long enough the anxiety will slowly rise, until all I want to do is run for the hills, or hide under the covers with a gallon of cookie dough ice cream. I could do that. But a better option is to break down my scary projects into small, manageable tasks and put each one in some sort of time line.

So for my blogging, I could break each post down into parts and give myself a deadline for each. And then put it all in my Outlook Calendar:
1-make a list of 3 possible topics (Monday)
2-research them to see which one works best (Tuesday)
3-make an outline of what the blog post will be about (Wednesday)
4-write the damn thing! (Thursday)
5-edit, and let it rip (Friday)

As I read this I'm already judging it, saying "oh no, it shouldn't take me that long!" And maybe it won't, but at least I have a little system in place to get me started.

The truth is, no one single tool works best. I need to have a number of systems in place. I need a lot of support, and I don't like doing things by myself. Which was the thinking behind the new Dream Project Intensive workshops I launched last month (see pictures). I wanted to offer support to other entrepreneurs that were suffering like me by forming a group that would make its members accountable for the tasks they wanted to accomplish. At the first one there were 9 people sharing their ideas for a business, and it was a total blast. So I decided to do a follow-up last week focused on setting goals then breaking them down into actions. This is no easy task, mostly because in our head we see things more complicated than they really are. So when someone got stuck during the meeting, the group came up with a slew of possibilities and suggestions, or simply asked additional questions to get more clarity around it.

We also used what I call the back-tracking method: we started out with the end goal and then backtracked from there, thinking about the steps we would need to take just before that, and then the ones just before that, and so on until we get to the present. It worked! Everyone ended up with a short list of actions to take until we meet again in a month.

Not to be left behind, I set some goals for this month as well. One of them is (you guessed it) to faithfully post at least one entry on my blog per week. Wish me luck!

Do you have a trick you use to get past perfectionism/procrastination/paralysis? Please share it!

Monday, March 17, 2008

A Plug for Action Partners

Remember back when we had to do homework in school? It would go something like this: We'd attend a class where the teacher would lecture on a specific topic, (ah, how I miss Biology and Accounting - not!) then there would be several chapters of new material to read followed by an exercise related to it. By the end of the semester - whether we liked it or not - we would have gained knowledge on a whole new subject matter.

That's kind of what I'm experiencing with my action partner, Nicole Rose (that's her below, photo credit: David Garvey, www.dgimagesltd.com). What's an action partner, you might ask. Well, before I go into that, let me give you a little background.

I met Nicole about 4 1/2 years ago when we both attended a course for entrepreneurs. She was just launching ODM, her graphic design and web development company, and I was in the initial stages of exploring the possibility of working for myself. It would take me a few more attempts before I took the plunge, but Nicole has had her business up and running since then. We've bumped into each other through the years at various networking events, but when I saw her in January I was going through a bad case of "generalized business plan preparation anxiety", so I asked her for a little guidance. She pointed out that she was actually in the process of revising her own plan, so why not work on them together?

We immediately agreed to meet the following week. After our first session, however, doubts started popping up. Was I ready to divulge every little detail of my master plan to someone else? Were our businesses too similar? Wouldn't we be going after the same clients? Wouldn't that be a conflict? Trust has always been an issue for me - it took me years and a few painful market downturns to finally admit I needed to hire someone to assist me with my investments. I do my own manicures and pedicures because "no one can do them better them me" (yeah right). And I could have avoided one or two painful heartbreaks had I listened to my friends' dating advice. But I am getting better at it. I brought up my concerns to my new action partner, and Nicole, so much the wiser, confidently allayed my fears. She didn't see conflicts, and, realizing I had much more to gain than to lose, I jumped on the bandwagon.

Little did I know how effective our arrangement would be. We've had about 7 meetings so far, each time tackling a different section of our business plans, sharing our "homework" and giving each other feedback. If we feel stuck on something we ask for help and usually find a solution between the two of us. Then we plan our assignments for next time. Having that task in mind helps to spark ideas during the week, and even more stuff pops up when I'm doing the research and writing it down, so it's like my brain is on steroids. This week I came up with a novel approach for art galleries to promote their openings, which will help me target them as clients, and I've added a few more elements to a proposal I have for a magazine I'd like to prospect. Sometimes these new ideas seem too big for me, like a beautiful gown that doesn't quite fit. But I'm not judging them. My task is to put them down on paper and then let the Universe conspire to help me "grow into" my fancy dress.

Nicole and I have also decided to swap some services, like she'll help me with the design of my logo and signature, and I'll help her with her e-newsletter and online social networking strategy. We're doing this as if we were each other's clients, so we get to test out our services and give ourselves feedback on the process. Nicole, for example, has amazing customer service - from her follow-up communications to her proposals - even the recording on her voice mail makes her look and sound professional.

On my own, working on my business plan felt like lifting an 800 pound gorilla. But together with Nicole and our weekly meetings I'm making major progress. In fact, it's been such a positive experience that I've taken on another action partner (yes, I admit it, when it comes to business, I've become a polygamist!). Constance Gustke is a writer and journalist who, like me, got her start in Wall Street but has since moved on to cover design, technology and the luxury lifestyle market. We both have separate web business concepts that we'd like to develop, so for the past three sessions we've brainstormed and plotted and mapped out ways to make things happen for us. Constance calls us the "Laverne and Shirley of the 21st century."

So if you want to get things done, my advice is don't do it alone! Find someone you have something in common with and then, buckle up for the ride! Do you have structures in place to help you with your projects? Please share them!

Thursday, October 11, 2007

Branding Strategies for Your Business

Here's a question every inquiring Mogulette mind wants to know: How do I make my product or service stand out? Well, according to branding expert Romana Mirza, it all begins with you (that's her in the pictures, giving the Mogulettes a presentation). She says that a company's image is a reflection of it's owner, so one way to start is by asking yourself, what words describe me, and my business?

Take a look at Target, for example. Webster's definition of the word is "something aimed or fired at" or, "a desired goal". Brilliant! When I go shopping, I want to be able to find what I'm looking for, or "target" the products I want. The metaphor of the red bull's eye is also pretty effective, and quite unforgettable. I guess that's what branding is to me, having my product or service leave a lasting impression. Remember the old Blackglama fur ads? Glamorous women like Liz Taylor, Jane Fonda, and Carol Channing - naked, except for the black mink coat - with a caption that read "What makes a legend most?". Sexy, and fabulous. In the same way, the "Got milk" ads made drinking milk sexy, and Nike's "Just do it" made sweating sexy, and definitely unforgettable.

But for our brands to become this memorable, it takes some deep soul searching along with a heavy dose of investigative work. That's what Romana does at her recently launched brand strategy firm, Studio Pinpoint - help clients bring out what's unique about their company. She suggests focusing on three areas:

First, your work. Ask yourself: What do you do differently? What do you offer that others don't? What is your personal and unique contribution to your work? What do you want your company to stand for?

Then, your clients. Ask them: What do you think I'm about? What special qualities do I bring to the process/outcome? What did you like about our experience together?

And finally, research your competition: What's their brand positioning? Key messages? Product presentation?

Armed with this information you can then pass it along to those helping you with your marketing: logo designer, copywriter, web designer, so they can come up with a message that clearly and accurately portrays you and your product/service - to make it....memorable!

Thursday, May 3, 2007

Vision mapping

Melissa Zwanger spent years working for various Fortune 500 companies until a transformational trip to Hawaii made her realize her true calling. She now does counseling and coaching in the area of relationships and sexuality, and she incorporated her company, Transform Now, in 1994. We had the pleasure of listening to her tell her story at last week's meeting.
Melissa shares her vision with the Mogulettes

One interesting thing she revealed to us was how she came to an epiphany when preparing for her presentation to the Mogulettes. She found an old vision statement she had written over 10 years ago regarding her business, which she hadn't looked at in a very long time, and was shocked to see that almost everything she had wished for has come true, as if by divine intervention! She believes that our visions are the most important element in the business plan. Hers was one full, typed page, and it was written in the present tense.

Here's how she suggests you do it: first close your eyes and really imagine what it would be like to have the business you want to have - feel, hear, and see everything that is going on - and then write it down. List everything - from what products and services you offer to the types of clients you are attracting (not only demographics but also personality, age, culture, background, etc.) to the type of space you work in (how is it decorated? how large is it? where is it located?) - everything! This is a real fun exercise. It may feel like part fantasy, part wishful thinking but it's all about putting our intentions to the universe!!! Afterwards, share it with someone you trust (I'm planning on having a meeting just for sharing our visions!). And don't keep it hidden - carry it with you or tape it somewhere near your desk. That way you won't have to wait 10 years to see that miracles do happen...;)

Quote: "When you can picture the ending, the beginning is easy."

Thursday, March 8, 2007

Preparing for take-off

We thank you for flying Mogulette Airlines. Please fasten your seat belts as it may be a bumpy ride. Our final destination will be...you fill in the blank!

Our next stop after Mission Statements is Goals and Objectives. This is the stuff that's going to move us towards our vision. I love what Jill Koenig, the "Goal Guru" says on her blog: "Small Goals invite small effort. Big Goals inspire a much higher level of performance. Big Goals inspire miracles" (see full text here).

I followed Jan King's advice in her book, "Business Plans to Game Plans", and came up with 3 big picture goals for the first three years of operations. She says objectives should be big, bold and highly motivational. I really like the sound of that! Here's my list:

Year 1: Build the infrastructure for my business
Year 2: Expand locally and branch out into additional products & services
Year 3: Expand out of state and into the Hispanic market; provide free services to underprivileged clients

For each goal she suggests setting up 5 objectives, and making sure they're realistic. Some questions to ask yourself:

  • Do your objectives further the intent of your vision and mission?
  • If you completed all of the objectives, would you feel you have accomplished something that is key for the company's overall success?
  • Are the objectives realistic within the time frame allotted?
  • Are the objectives realistic given the circumstances of the current market?
  • Are the objectives realistic given your resources in terms of staff, time and money?
According to King, "the owner or CEO should decide corporate objectives based on what trends have led to this point, what resources are available to the organization this year and what opportunities are open in the market". So it helps to have done the soul searching we did in our past meetings (see "Existential Angst", below) in order to come up with ideas for goals.

When I shared my goals and objectives with Martha, my fellow Mogulette, it felt like part fantasy, part wishful thinking, but I was totally jazzed thinking of all the possibilities! The engines on Mogulette Airlines are definitely revving up...

I also found some useful tips on goal setting at morebusiness.com

Next up:
Business Philosophy: What is important to you in business? What do you want your company to stand for? For example, for Federal Express it’s speed, for Apple it’s quality, design and innovation, for Wal-mart it’s wide product selection...

 
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