Archive for the ‘Career Management’ Category

Today I am celebrating seven years as an entrepreneur. It was seven years ago today that I drove to Hartford to register my new business entity as a limited liability company in the state of Connecticut. I remember that day as if it were yesterday. It was one of the best career moves that I ever made. After twenty years in Corporate America, I successfully re-invented myself as an entrepreneur.

Perhaps this is something that you’ve been contemplating?

Watch this video of a TV interview with me and Jim Pellegrino and read the article below to see if you’ve got what it takes to make it as a solopreneur (company of one) or entrepreneurial (builder of new businesses):

Benefits that I’ve enjoyed living the entrepreneurial lifestyle

It’s always a trade off: one set of benefits for another. But I have to say that the benefits I’ve experienced in building and running my own business have been truly enriching and meaningful to me and my family. Here’s a short list of what I appreciate about being an entrepreneur:

1. Flexibility. You make your own hours and have the luxury of working from home if you like. No long commutes or wasted time in the car. If you need to be home at 2:00pm to let the electrician in the house, you can do that without asking anyone’s permission. If you want to exercise in the morning and start your work day at 9:30am, you can do that without infuriating your boss or jeopardizing your job. I have found more work/life balance since becoming an entrepreneur.
2. Choice. You decide who you want to work with and whom you’d rather avoid. You hire and fire your clients,vendors and strategic partners. Nothing and no one is forced upon you. You choose who you want to associate with.
3. Fewer boring meetings. My day is not booked solid with obligatory meetings. I now look forward to meeting with clients, prospects and networking contacts where we exchange valuable information and no one is wasting anyone’s time. So much corporate profitability and life force is lost in meeting hell. As an entrepreneur, YOU control your own calendar.
4. Valuation. You decide what you are going to charge for your products and services. While you need to be market competitive, you set your own rate card. You determine your own salary and professional fees. If you want to be a premium player, go for it. Just make sure that your customer experience and brand delivers on that promise of premium.
5. Play to Your Strengths. In every “job” there are tasks and responsibilities that you do well and those that you dread. Working for someone else, you just hope that you get more of what you like and do well. As an entrepreneur, you have the choice to outsource the crap – that is, the jobs and tasks that you have no talent or tolerance for, like bookkeeping, administration, graphic design, etc.(no disrespect to bookkeepers, virtual assistants or graphic designers – I NEED YOU!) Of course, there is a strong urge as an entrepreneur to do everything yourself. I believe this is driven from a mind set of “I don’t have a lot of money to hire someone, so I better do it all myself.” This is a mistake. Outsource as much as you can, but keep control and oversight of all marketing and financial aspects of your business.

What you need to be successful as an entrepreneur?

Before you quit your corporate job, take a review of the next section of the internal and external stuff you need to have in place prior to crossing over to the entrepreneurial side.

Internal Stuff:

• Spirit of innovation. You must be able to see and think of new ideas that haven’t been done before. Innovation doesn’t have been something magical or dramatic; it can be the small enhancements that make people’s lives better. Get creative and innovate something.
• Stomach for uncertainty. You must be willing to live without the luxury of regular paychecks and unlimited office supplies. You have to put in the time and effort to “prime the pump” and be patient and persistent in your new business development efforts. They will pay off, it’s only a matter of time.
• Appetite and willingness to risk failure. Your success is anything but guaranteed. You will inevitably fail at something during your entrepreneurial journey. You will learn the most from your failures. You must be willing and able to get up after you fall.
• Unshakable belief in yourself. People will poo-poo all over you as you embark on what appears to be a risky venture. These nay sayers may even be people in your immediate family. You must have confidence in yourself and a willingness to invest in your dream. At the end of your life, you’ll only regret the things you didn’t have the courage to do.
• Your “why.” You must have a powerful, motivating reason why you want to do this. Connecting with your ‘why’ will help to sustain you during the difficult phases of running your own business.

External Stuff:

• Written business plan explaining to someone else (like a banker) how you plan to make money. . It’s not good enough to have it all in your head. Get it down on paper. Be disciplined and do the strategic work upfront.
• Marketing plan(a subset of your business plan). Who you will serve (your customers). How you will commercialize your idea. How you will go to market with your goods and services. Establishment of your brand. How you will leverage social media to build awareness and create ‘fans.’
• Exit strategy outlining how you plan to get in, do well and then get out (and move on to your next adventure). Can you sell your business in the future? To whom and for how much? What assets do you plan to create to enhance your business’s future valuation?
• Money. How you will fund the launch of your business? How much money will you need to sustain yourself (pay your living expenses) while also investing in the business? How long can you live without a paycheck? Will you need access to capital (loans, external investors?) If so, where/who/how?
• People and connections. Who will help you get your business off the ground. Advisors to help guide you and get critical feedback on your strategize and plans. You might want to consider forming an advisory board for your entrepreneurial business.
• Knowledge. I encourage you to “go to school” on entrepreneurship before you hang out your shingle. Read as many books on the subject as you can. I highly recommend the E-Myth Revisited by Michael Gerber. Consider enrolling in an entrepreneur certificate program at a local university or community college. I have been a guest lecturer at the University of Hartford’s Entrepreneurial Center. You may have a great idea that the world needs, but you’ll need to know a lot more than that to be successful as an enterpreneur.

The lessons of the past still apply

Below are the top 10 lessons that I shared out with my clients when I celebrated my 3rd anniversary in business in 2008 (just before the recession took hold). I thought a little review would do me good. After looking at this list, I can see that the advice I gave myself 4 years ago still applies today. These tips may give you a little head start as you consider diverting your corporate career path towards entrepreneurship and business ownership.

1. Turn your business inward.
2. Focus and specialize.
3. It’s good to let go.
4. Everyone has something to teach you.
5. Spend time with motivated people.
6. There are easier ways to make money.
7. Ask and you shall receive.
8. If it creates value, charge for it.
9. You can’t get there alone.
10. Invest in yourself

The road ahead

Sometimes I think about returning to Corporate America. I fantasize about the health insurance benefits and the biweekly paycheck that seems to come automatically. I long for the international travel and being paid to learn on the job. I miss the office parties and the free coffee. Someday I may go back to a “regular job.” I don’t allow myself to use the word ‘never.” I always want to remain open to all the possibilities that the future might hold for me. For now, I am committed to continue building and operating my business – Kmc Brand Innovation, LLC. And since I just received a shipment of 2,500 new business cards, I guess I am committed to this venture for the foreseeable future.

About the writer: Kathy McAfee is known as America’s Marketing Motivator and is author of the book Networking Ahead for Business. She is the sole owner of Kmc Brand Innovation, LLC, a training, coaching and speaking business. In her role as executive presentation coach and professional speaker, Kathy helps her clients to become the recognized leaders in their fields by mastering the art of high engagement presentations, more effective networking and personal marketing. To learn more about Kathy, visit one of her web sites MarketingMotivator.net,  NetworkingAhead.com and MotivatedSpeaker.com

Today is the fifth anniversary of my business formation as Kmc Brand Innovation, LLC.  As I reflect upon these past five years,  I feel compelled to share some of my lessons learned with you, my fellow motivated business leaders.

Truth be told, my business was born out of necessity. I was in-between jobs and found myself in a precarious position. No company would hire me (at least not in my time frame or on my terms).

What a gift this turned out to be!

A networking friend, Alan D. Weber (a marketing professional who retrained himself and is now qualified as a certified financial planner with Merrill Lynch) gave me a good piece of advice. He suggested that I start consulting as a way to “keep the pencil sharp.” He also said I would be able to answer the question “What have you been doing with your time?” with a respectable answer “Oh, I’ve been consulting with various clients during my job search.”

After my first consulting engagement, I quickly fell in love with the freedom, the challenge and the idea of paving my own way in the world of work. Finding my first client was easy. I met Optometrist Dr. Leora Berns of Avon Eye Care at a Soroptimist meeting. She was looking for a marketing consultant to help her grow her medical practice. I was looking for my first client. It was a match made in Heaven. (Incidentally, it was feedback from Dr. Berns that led me to discovering my brand, Marketing Motivator. )

Perhaps I was blessed with beginner’s luck, but the entrepreneurial reality set in as I struggled to land my second and third clients. My misguided marketing pitch “I can do anything for anybody, because I’ve done all kinds of marketing in my 22 year corporate marketing career” resulted in no bites. I have since learned that if you attempt to be all things to all people, you will effectively be nothing to nobody.

The key to entrepreneurial success is to focus and specialize. Read the rest of this entry »

While this may seem a bit ambiguous at first, this is a really important question – are you “résumé ready”? Being résumé ready is tantamount to being in a state of disaster preparedness or, to be a bit less dramatic, at least being ready for unexpected events such as a snow storm, power loss or, perish the thought, the loss of employment.

In my experience as a résumé writer, 99% of the clients who reach out to me are in a huge rush to update their résumé due to an unexpected layoff, a sudden dismissal or seeing an ad for their dream job to which they must respond within 24 hours. Wouldn’t it be far easier and more sensible to proactively keep one’s self in a state of readiness for whatever turn life might take by keeping one’s credentials current and available? After all, we take preventive health measures such as annual physicals and yearly dental checkups. We take our vehicles in for routine maintenance.  Why not take the same approach to our careers and valued source of requisite income?

What would my advice be as an experienced recruiter and résumé writer? Update your résumé no less than once a year so that you’ll be “résumé ready” if disaster strikes or, more happily, opportunity knocks.

Download more articles from Bree Gurin. “Resumes and the Job Search: The Truth Revealed”

About the writer: Bree Gurin has been in the staffing industry for more than 28 years and is currently recruiting and placing candidates in the New York City area. She has also successfully been writing concise and informational résumés for candidates all across the country for the past 8 years. Bree can be reached at 860 485-1154,  abgurin@snet.net or by visiting her website, www.gurinonline.com