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Can You Afford to Become An Entrepreneur?

By Melinda Emerson on March 29, 2010 in Become Your Own Boss Tips, Cash Flow & Finance, How to Start, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, Solopreneurs, Starting A Small Business, Women in Business, Your Small Business

Everyone has good ideas. Some of them may even be million dollar ideas, but if you live from paycheck to paycheck or way beyond your means, you may never be able to quit your job and start a business.

As the Smallbizlady, often I get emails, facebook messages and DM’s on Twitter from people asking me to help them start a business. My first three questions are usually something like this.

What is your business idea?
How much money do you have saved?
How much money do you think it will take to launch this business?

If question two brings on a case of stuttering, I start shaking my head.

You should have three pools of money before your start a business.

An emergency fund for the household
12-24 months of budget to run your household
12-18 months of money to launch and operate the business.

Now hear this, “Your ability to save has everything to do with your ability to start a business!”

Money is not everything. It’s just a tool, but it is certainly the beginning of a business plan. Banks rarely, if ever, loan money to start-up businesses. Banks will typically not deal with you for a loan or line of credit until you’re been in business 2-3 years and can show growth in the business with your financial statements and business tax returns.

There are some franchising opportunities that will provide some working capital, but 30-50% of the money will still come from you. And by the way, you will need to have significant net worth and assets to collateralize the loan. Think of it this way, no credit = no business. When you are first starting out in business, you are your business’s credit.

So what do you do if you have a great idea and no money? There are other sources of funds to start your business. There’s the 3 F’s Family, Friends, Fools. Your family loves you and hopefully believes in you enough to invest in your business. If you are fortunate enough to have a family that can afford to invest in you– you are fortunate, but beware. Your rich Aunt Sally may think she’s your boss and might call you up every 30 days to check on how her $50K is doing. You may not want that kind of pressure in your new business.

Then there are your friends. Nothing can kill a friendship faster than borrowing money that you can’t pay back. I have a rule. I do not loan money to friends, I give it to them. I make sure that I do not give away any money that I can not afford to lose. Would your friends do that for you? If so, they could be an option.

Every once in awhile, a hungry entrepreneur will come across a rich guy who’s an idealist about business, who falls in love your idea but doesn’t wish to run the business. That is an angel investor— who will invest money in the company for an equity stake and lend his or her network to help you. Do not get your hopes up about finding an angel investor in this economy. It can happen, but let’s just say you are better off using your own funds that you save to start your business. Family, friends or an angel investor can be fools for investing in a half-baked business idea. Invest your time, to make sure you have a sound business plan before you take anyone’s money. And do have a plan to show them—for when and how you think you’ll pay it back.

If you do have assets, you are in a different situation. You can borrow against your 401K, you can take out a home equity loan, you can sell your home or rental property, you can cash in a Roth IRA. The money must come from somewhere—its best when it comes from your own coffers.

It’s essential that you start your business from a position of financial security. Otherwise, you’re finished before you get started.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who hosts #SmallBizChat on Twitter. #SmallBizChat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda also publishes a resource blog on small business best practices at www.succeedasyourownboss.com Her first book, Become Your Own Boss in 12 Months was released by Adams Media in March 2010.

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What is Coming up in March on #Smallbizchat on Twitter?

By Melinda Emerson on February 26, 2010 in Grow Your Business, My Recommendations, SmallBizChat, Social Media, Your Small Business

#SmallBizChat is a weekly conversation on Twitter where emerging small business owners can get answers to their questions. If you have a Twitter account join us every Wednesday from 8-9pm Eastern Time.

If you don’t have a Twitter account, not to worry. a Q&A interview with my #Smallbizchat guest is posted on this blog every Thursday morning. Subscribe to this blog to have it sent directly to your inbox.

If you’re new to Twitter, here’s how to participate in #SmallBizChat: http://bit.ly/S797e.

The transcript from every chat is available through the #Smallbizchat community. Just hit the silver “transcripts” button under the video in the right hand column of this blog to sign in. Remember, once you develop a login you have access to all the transcripts.

Who is on #SmallBizChat in March?

March 3 @ErikVonk President, BOTH How to be in business for yourself, but not by yourself

March 10 @Bizsavvymom Malika Duke on Social Media Selling Strategies

March 17 @Colleendebaise Small Business Editor, Wall Street Journal Starting a Small Business in this Economy.

March 24 @Skydiver HARO founder Peter Shankman On How to Launch a Product Online.

March 31 Special guest host Mike Michalowicz @TPEntrepreneur interviews Melinda Emerson @Smallbizlady on How to Go From Corporate to Small Business Ownership

March 31 On SmallBizRadio we have Editor, SmallBizTrends.com - Anita Campbell on The Future of Small Business in America. Join us on Wed at 1pm ET on #BlogTalkRadio

Leave a comment and let me know what topics YOU would like to see covered on #SmallBizChat.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog www.succeedasyourownboss.com.

Melinda Emerson, known to many as “SmallBizLady,” is a Veteran Entrepreneur, Small Business Coach and Social Media Strategist who hosts #SmallBizChat weekly on Twitter for emerging entrepreneurs. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Her first book Become Your Own Boss in 12 Months is out in March 2010.

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How is Your Entrepreneurial Literacy?

By Melinda Emerson on February 22, 2010 in Become Your Own Boss Tips, How to Start, My Recommendations, Starting A Small Business, Your Small Business

This is National Entrepreneurship Week Feb 20-27, 2010. This year‘s theme is Entrepreneurial Literacy Empowers Everyone. This is a theme that I truly embrace.

Whether you are still working in corporate America, running a nonprofit, or leading the charge in your own small business - being able to evaluate things from a business perspective will always enable you to be more successful.

So What is Entrepreneurial Literacy?

The organizers of this week-long celebration in honor of Entrepreneurship in America define it as having some basic knowledge of how a business is created and managed.

I have a slightly different definition. When you are entrepreneurial literate, you are a student of small business. You do not just rest on your idea and marketing efforts. You constantly work to refine your business model. You are someone who makes sure your passion has a profit center.

Entrepreneurial Literacy is important because too many people who want to start small businesses lack critical understanding about financial matters including budgeting, taxes, balancing a checkbook, managing credit cards or lines of credit, and developing sales projections.

Here’s a fact: if you do not manage your household with a budget you are far less likely to manage your business with budget. The best business owners make business decisions based on up-to-date financial information that is tracked against a budget.

Your journey to become an entrepreneur starts from real experiences that test your knowledge and skills and motivations.

Pursuing entrepreneurial literacy is about the research you do as you prepare to start your business. The more you learn and grow, the better business leader you will be. Real entrepreneurial skills come from your work and industry experience, and your willingness to continue learning.

Entrepreneurial Literacy is a real necessity if you have plans to Become Your Own Boss. These are the skills that empower everyone to succeed in business and fuel the American economy with 60-80% of the net new jobs.

Here are 15 Questions for All Would-Be Entrepreneurs

Do you have the career skills and experiences to become a successful entrepreneur?
What personality traits are more likely to lead to success as an entrepreneur?
What taxes do entrepreneurs pay?
What items are part of a firm’s operating costs?
How can an entrepreneur learn about what his/her customers want?
How can computer skills help with business operations?
How do small business owners deal with risk?
How does personal financial literacy relate to business financial literacy?
What factors determine where to locate a business?
Why is branding important?
How does competition affect entrepreneurship?
What percent of American firms have no employees working for them? Why is this important?
What are some sources of funding to start a business?
What should you do if business drops off?
What should an entrepreneur consider when hiring employees for the business?

National Entrepreneurship Week is sponsored by The Consortium for Entrepreneurship Education which believes that ”Entrepreneurs are not born….rather they ‘become’ through the experiences of their lives.” (Albert Shapero – OSU) For more information http://www.nationaleweek.org/

Are there any other questions that need to go on this list? Please leave a comment.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “Smallbizlady” is a seasoned entrepreneur, professional speaker, and small business coach. Her areas of expertise include small business start-up, business development and social media marketing. Melinda hosts #Smallbizchat, a weekly talk show on Twitter. Melinda’s first book Become Your Own Boss in 12 months; A Month-by-Month Guide to Start a Business that Works is due out in March 2010 by Adams Media.

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Go From Employee to Entrepreneur

By Melinda Emerson on February 4, 2010 in How to Start, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wed on Twitter from 8-9pm ET. This is excerpted from my recent interview with Kim Beasley is the owner of two small businesses, and the author of Your Passionate Business, @passionatebiz or @KimBeasley on Twitter. Kim knew at an early age that she wanted to run her own business and, after earning two degrees and working in Corporate American for almost 15 years, Kim decided it was time for her to start her own business, one is Your Passionate Business which helps others start their own business. The second is Pro Membership Services, specializing in developing business or membership websites using WordPress or Drupal. For more information: http://kimbeasley.com/about/

Smallbizlady: What are some important things that a startup business owner need to keep in mind when starting their business?

Kim Beasley: Be open to change, which means that you should be flexible when developing your business.

Don’t be afraid to ask questions to those who are experts or leaders in your chosen industry.
Use social media to grow your network of business associates and clients.
Develop a solid financial plan that you continuously follow.
Always have a marketing/advertising plan in place to help grow your business.

Smallbizlady: How much time should be invested in researching a chosen business industry?

Kim Beasley: However much time is needed for you to become comfortable with your choice for an industry. Don’t be too hasty when determining which industry will be your niche. Make sure that you are not only comfortable with your choice but also ready to do what it takes to be successful in your industry.

Smallbizlady: What is your philosophy about starting a business?

Kim Beasley: Your skill + your passion = your passionate business. When starting a business, it is important that you center it on a skill you are passionate. Understanding that your passion for your business is what will help keep it going.

Smallbizlady: How do people know if their passion is profitable?

Kim Beasley: Research, research, research! Starting with research to see if your passion can become a viable business is the first step in determining if it can be profitable. If you find that it is not, see if you can combine it with another skill you are passionate about to see if the combination can be profitable. For example, writing can be combined with research or cooking with writing a cookbook and so forth.

Smallbizlady: What are the top mistakes unemployed people make when starting a business?

Kim Beasley: Not doing their due diligence regarding research, not setting up a firm financial foundation and not having a business mentor. It is very important that at least these three things are in place in order to create a solid start to your business.

Smallbizlady: What are some of the marketing avenues that are good for startup business owners?

Kim Beasley:

Sharing information about your business via social media websites like Twitter, Facebook or LinkedIn.
Trading links with others to build a solid “backlinks” process and placement.
Applying good SEO (Search Engine Optimization) techniques to your website such as research what keywords will help drive traffic to your website.
Research websites such as Craigslist.org to see if sharing information about your products or services will be beneficial.

Smallbizlady: What advice would you give to other startup business owners?

Kim Beasley:

Stay focused on the important matters.
Don’t let issues stop you from reaching your goals.
Constantly improve processes.
Build a virtual team that is strong, understands your business, and meets your needs.
Outsource those tasks that you can delegate for someone to do.

Smallbizlady: How important is it to have a strategy plan in place?

Kim Beasley: A business without a plan is planning to fail. A strategy plan is important because it gives you a guideline for where you have been, where you are and where you want to go. Business owners should always have a living strategy plan that will guide them as they manage their business.

Smallbizlady: How do you know where to locate your office (in-home or office building)?

Kim Beasley: It is important that you determine your location immediately when developing your business. If you find that you will have customers visiting your office on a regular basis then it might be better to have an office that is away from your home. But if most of your work can be down from your home then save yourself the overhead cost of having an external office and just setup an office in your home. Make sure that your home office is a dedicated space that is not shared. This is important for tax purposes.

Smallbizlady: Is it important to have a business mentor?

Kim Beasley: Yes it is important to have a business member because they can help guide you around the “hiccups” that business owners can experience when in the “startup phrase”. When determine who will be your business mentor, make sure that you hire someone who is knowledgeable about your industry. Don’t be afraid to ask them for references so that you can check to see how they have helped others to become successful.

Smallbizlady: What type of people do you need to have on your business support team?

Kim Beasley: The type of people you have on your business support team can vary. Just make sure that as soon as you can, hire a Virtual Assistant (a VA can help mange your business), graphic design (for branding), web design (online presence), or bookkeeper/accountant (manage finances). If you feel comfortable outsourcing these services, do so because it can help free up your time so that you can spend more time developing your business.

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The Entrepreneur’s Job Description PART II

By Melinda Emerson on January 25, 2010 in Become Your Own Boss Tips, Branding & Marketing, Cash Flow & Finance, Grow Your Business, How to Start, Starting A Small Business, Your Small Business

Just as you would write a job description when hiring an employee, you need to understand what is fully involved in your new job as an entrepreneur and business owner. Everyone at some time or another has dreamed of becoming their own boss, but I’m here to tell you there’s a lot of work involved in running a successful small business. This post is the second of a two part series on what it takes to be an entrepreneur; click here to view Part I of this article.

This blog post is excerpted from my new book Become Your Own Boss in 12 Months; A Month-By-Month Guide to a Business That Works which will be released in March 2010 by Adams Media. Become Your Own Boss in 12 Months walks you step-by-step through the Emerson Planning System, which will reduce your learning curve as you start your business.

Starting a business is a huge commitment of time, money, and personal energy. Here’s a list of five more jobs you must hold as a small business owner.

Chief Operations Officer– Once you have your vision for your business, then you must run it. Issues such as office space, banking, insurance, inventory management, budgeting and financial management are all things that must be handled in order to run a small business effectively. You must also make sure there are processes in place for hiring, sales and customer service.

Chief Project Manager— You must know who is going to really get the work done once a sale is made to a customer. Who’s going to communicate with the client, attend all meetings and make sure the project or delivery stays aligned with the timeline? Will you need to hire employees or freelancers to get the work done?

Web/Social Media Manager— In addition to having a website that is updated regularly, you also need to make sure that you are maintaining a presence on social media sites where your prospective customers are spending time. Three top social networking sites are LinkedIn, Twitter and Facebook. If you decide to launch a blog to keep your website updated and promote your expertise, you will also need to write regular blog posts. Using social media consistently is the best thing you can do to build your small business brand online.

Bill Collector— One you make a sale, you must have a process in place to collect your money. In the current economic environment many businesses and corporations are paying their bills late. Small businesses are always on the bottom of the list, so you must be aggressive about getting paid. On day 31, you should be on the phone and emailing about the status of your payment. This is one of the least fun things to do as a business owner, but you must be paid for your products and services.

Secretary— In addition to writing your own letters, you will do your own mail merges, labels and take your mail to the post office or over night mail drop off. You will probably answer your own phone as well. It will be important to screen your calls. Never hesitate to tell a caller you are on deadline and need to call them back. Be sure to use a message pad so that you can actually remember to return the call.

This information will help you think through having your own business – before you get too far down the road pursuing your entrepreneurial endeavor.

Click here to view Part I of this article.

What else do you think needs to go into the small business owner’s job description? Please leave a comment.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady” is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #Smallbizchat on Twitter. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 months; A Month-By-Month Guide to a Business That Works will be released by Adams Media in March 2010.

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10 Bible Verses Every Small Business Owner Needs

By Melinda Emerson on January 18, 2010 in Business Inspiration, Mompreneurs, My Recommendations, Pink Slip Entrepreneurs, Solopreneurs, Your Small Business

MistyPath As a Christian and a family focused entrepreneur, I believe that faith is a key ingredient in small business success. In this current economy, the people of God must remember that if you honor God through your business he will direct your path.

Each year, I pick a bible verse as my theme for the New Year. As I considered which bible verse would guide me in 2010, I thought it would be helpful to share some of my favorites. Use these bible verses in the good and tough times in your small business.

1. “Trust in the Lord with all your heart. Lean not on your own understanding, in all your ways acknowledge him, and he will direct your path.” Proverbs 3:5-6 (NIV) Learn something every day. If you only lean on your own knowledge in your business, you will not be able to grow. You must grow yourself to grow your business

2. “Behold, I am doing something new! It’s already happening; don’t you recognize it? I will clear a way in the desert. I will make rivers on dry land.” Isaiah 43:19 (GOD’S WORD® Translation) Sometimes your business will need to move as the market pulls you in a different direction. You might need to reinvent your business, and you should not be afraid. God’s always got your back.

3.”Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God.” Philippians 4:6 (NIV) One of the most important things you can do for your business is to pray every day.

4. “Faith without works is dead.” James 2:26 (KJV) You can’t just pray for success. Develop a plan and work your plan. If you can do something about your situation, then do it. Stop making excuses, stop procrastinating, and do it!

5. “Have I not commanded you? Be strong and courageous. Do not be terrified; do not be discouraged, for the LORD your God will be with you wherever you go.” Joshua 1:9 (NIV) There will be contracts that you really need that you will not win. There will be days when you drop the ball on your customer service, but you can not let that define you or your business. You will get another opportunity and even if you don’t, God is with you always.

6. “As I think in my heart, so am I.” Proverbs 23:7 (NKJV) Your thoughts can be your number #1 asset or your biggest liability. When you are alone in your office or back bedroom, your thoughts can easily turn on you. Your ability to stay positive, learn from all experiences and shake off mistakes quickly will be a big asset to you and your business.

7. “God has not given me a spirit of fear, but of power, love and sound mind.” 2 Timothy 1:7 (NKJV) Making decisions in your small business based on fear is never helpful. For that matter making decisions in anger is not good either. Try hard not to be reactionary with clients, vendors or employees. Use factual information and up-to date financials to make sound business decisions.

8. “But these things I plan won’t happen right away. Slowly, steadily, surely, the time approaches when the vision will be fulfilled. If it seems slow, do not despair, for these things will surely come to pass. Just be patient! They will not be overdue a single day.” Habakkuk 2:3 (TLB) You need to understand that God’s time is not your time. There may come a time in your business when you just know you have a contract, one that you really need and things fall through. Those are the times when you need to trust in the Lord the most. When we accept God’s timing, we can learn to live in hope and enjoy our lives while God is working on our problems.

9. “Happy is the man who finds wisdom, and the man who gains understanding;” Proverbs 3:13 (NIV) You need to be a life long learner in order to be successful in business. You should constantly seek to improve yourself and increase your knowledge about the business of running a business.

10. “I have told you these things, so that in me you may have peace. In this world you will have trouble. But take heart! I have overcome the world.” John 16:33 (NIV) This is my new bible verse for 2010. It came to me watching a college football game. I believe I was only watching the game to see it.

Remember, whether you are religious or not you can always pray about your business.

Special Shout out to Joyce Meyer Ministries for her book The Secret Power of Speaking God’s Word which gave me guidance for this post and to Pastor F.L. Anderson who gave me some biblical wisdom for this article. Read his blog http://www.FLAnderson.com.

Do you have a special bible verse that has helped you in your business? Please leave a comment and tell me about it.

WANT TO USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

Melinda Emerson “SmallBizLady“, is a Veteran Entrepreneur, Small Business Expert and Social Media Coach who hosts #Smallbizchat on Twitter. #Smallbizchat is the trusted resource on Twitter to discuss everything entrepreneurs need to know about launching and running a profitable small business. Melinda’s first book, Become Your Own Boss in 12 months. A Month-by-Month Guide to a Business that Works will be released by Adams Media in March 2010.

For more tips on how to start or grow your small business visit http://succeedasyourowboss.com and subscribe to Melinda Emerson’s blog.

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Win a Year of FREE Business Coaching From Melinda Emerson “SmallBizLady”

By Melinda Emerson on January 5, 2010 in Become Your Own Boss Tips, How to Start, Starting A Small Business

For Immediate Release: January 5, 2010, Philadelphia, PA – In celebration of the release of her first book, Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business That Works (Adams Media, March 2010) Melinda Emerson has decided to offer one lucky business owner the opportunity to be coached weekly personally by her.

If you are an early stage entrepreneur with one year or less in business or someone with a side hustle looking to go full-time, or someone looking to start a business in 2010 this opportunity is for you. One of the main selling points of her book is the Emerson Planning System, her innovative method for starting a successful small business.

In addition to FREE one-on-one coaching, the selected business owner will receive an autographed copy of her book Become Your Own Boss in 12 Months and the workbook, her life planning journal, and her Audio CD: 10 Things You Must Never Forget in Business. This is a once in a life time opportunity worth over $25,000 to a start-up business. You supply the energy, the idea, and elbow grease—and SmallBizLady supplies the plan.

To enter, entrepreneurs need to write an essay explaining in 500 words or less why they want to be an entrepreneur including their basic business concept, and a 100 word biography. Entrants should also provide a headshot, email address, website/blog, and any social media accounts (Facebook, Twitter and LinkedIn) in their contact information. No purchase necessary to enter. Coaching with Melinda will be 50 minutes a week for 50 weeks. The winner will be required to blog weekly about their entrepreneurial journey.

Submissions are due to Melinda@melindaemerson.com by 5pm on February 5, 2010. The winner will be selected by March 5, 2010.

About the Melinda:

Melinda F. Emerson “SmallBizLady” is a seasoned entrepreneur, professional speaker, and small business coach whose areas of expertise include small business start-up, business development and social media strategy . She hosts #SmallBizChat weekly on Twitter. She is also the founder and CEO of Quintessence Multimedia, an award-winning strategic communications and digital media firm. She has created productions for such companies as Johnson & Johnson, Verizon, Enterprise Rent-A-Car and Comcast. Emerson was named one of the Top 50 Women in Business in Pennsylvania, one of Top 30 Leaders of the Future by Ebony magazine and the Philadelphia Business Journal/National Association of Women Business Owners gave her the Woman of Distinction Award.

MFE Consulting, LLC

67 Long Lane, Suite 50, Upper Darby, PA 19082

Web: www.melindaemerson.com / Blog: www.succeedasyourownboss.com

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5 Ways to Shift from Tired to Inspired in Business

By Melinda Emerson on September 10, 2009 in Grow Your Business, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wed on Twitter from 8-9pm ET. This is excerpted from my recent interview with Elizabeth Barbour @CoachElizabethB on Twitter. Elizabeth’s company is The Inspired Entrepreneur. She is a small business coaching expert who serves as a catalyst for entrepreneurs to take inspired action and create extraordinary results in business and in life. A professional coach for nine years, Elizabeth has worked with thousands of people to shift from tired to inspired in business and in life! Her four core values are community, celebration, spirituality and self-care. Visit www.ElizabethBarbour.com for details!

SmallBizLady: Why do entrepreneurs get so tired?

CoachElizabethB : We’re excited! We have big ideas! We multi-task all the time so we juggle a lot of balls in the air and often drop some. Often, we are solopreneurs so we are wearing many hats which gets overwhelming. In this economy, some people are struggling so there is a bit of fear that motivates us to do more than we normally would. That’s exhausting.

SmallBizLady: What are the warning signs that you are tired?

CoachElizabethB: LOL! So many. Some more obvious than others. Losing things. Forgetting Appointments. Always being late. Cloudy Thinking. Can’t fall asleep at night. We get overtired and then over stimulated and keep a to-do list by our beds! We stop taking care of ourselves – no exercise, poor food choices, no down time. Just go-go-go 24-7. Stress. Getting cranky or snippy. We call it “having the growlies” in our house! Watch out if someone has the growlies! J

SmallBizLady: So how can we get inspired? I understand you have 5 Tips to Shift from Tired to Inspired. What’s the first tip?

CoachElizabethB: Tip #1 to Get Inspired: Practice Self Care. Like the financial gurus suggest – don’t spend all your money and then save what’s left over – start by paying yourself first! Decrease tolerations and things that drain your energy. Let go of habits and behaviors that don’t serve you or your biz. Do more of what you love to do. Go for a hike. Read. Swim. Nap. Dance. A 30 min break can really shift your energy in a positive way. Establish your connection to God, self and others. When you are plugged in spiritually, you live an inspired life. Louise Hay suggests using this sentence “I love myself therefore…” if you said that several times a day, you’d always make good choices.

SmallBizLady: What’s the 2^nd tip to shift from Tired to Inspired?

CoachElizabethB: Tip #2 to Get Inspired: Learn, Study, Grow! Read books. Take classes. Get a mentor. Go to workshops & conferences. Attend all the FREE events you can find. My top 3 Biz books: The E-Myth, Attracting Perfect Customers, One Page Business Plan. My top 3 Personal books: Sabbath – Wayne Muller, You Can Heal Your Life – Louise Hay, Ask and It Is Given – Abraham-Hicks

SmallBizLady: What’s the 3^rd tip to shift from Tired to Inspired?

CoachElizabethB: Tip #3 to Get Inspired: Build Intentional Community. Assess your current community – who feeds you? Who drains you? Who do you want to spend more time with? Who are you spending your time with? Successful people surround themselves with successful people. They mastermind. They go to workshops and personal development seminars. They hire the right people to work for them. Think about it – Tiger Woods – what does he do? He plays GOLF – that’s it! He does what he does best. And he surrounds himself with a community that supports him at being his best.

SmallBizLady: What’s the 4^th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #4 to Get Inspired: Create Systems for Success. Look at every aspect of your life. Not just your biz! Assess Your Business: Is your desk organized? Are your computer files easy to navigate? What’s your communication like with your clients? Assess Your Home: is bill paying easy? Do you have a central scheduling place for meetings, vacations, etc. do you have a place to hang your KEYS when you walk in the door? Systems make life easier because there’s a plan that you don’t have to think about.

SmallBizLady: What’s the 5^th tip to shift from Tired to Inspired?

CoachElizabethB: Tip #5 to Get Inspired: Work ON your business, not just in it. This is what Michael Gerber teaches in the E-Myth. If you have not read it, you must! Working on your business means to embrace being an Entrepreneur with a Capital E! When you work IN the business, you’re serving clients and doing daily tasks. When you work ON the business, you’re Visioning, Goal Setting, Big Picture Thinking, Networking. That’s where the inspiration comes in!

SmallBizLady: These are great tips but what if I still need help?

CoachElizabethB: Get help and perspective: hire a coach, work with a mastermind group, talk to your dog, meditate or pray. It’s important to identify the areas you need help and then find the appropriate resource (person, book, website, etc) Also be sure to schedule doses of inspiration. Sounds silly. But if it’s not in your schedule, it’s not in your life.

SmallBizLady: What’s your advice for brand new entrepreneurs?

CoachElizabethB: Network, network, network! Build your community so that you feel supported and you have access to resources. Join groups in your community to get the word out and to not feel isolated. Get a mentor or hire a coach. Someone to guide you on your journey and help you stay focused. Remember what Calvin & Hobbes said? “It’s only work unless someone makes you do it!” If you’re an entrepreneur, you’ve chosen this. So have fun with it. Don’t create another J-O-B for yourself!

SmallBizLady: Who and what inspires you?

CoachElizabethB: My Favorite Spiritual Teachers: Sonia Choquette, Wayne Dyer, Caroline Myss, Jerry & Esther Hicks. My Favorite Business Gurus: Michel Gerber, Stephen Covery, Harv Eker, Walt Disney! J I get inspired by being in community, spending time in nature and having intellectual and spiritual conversations. Life is so much fun and I love to explore and learn constantly! Being a coach is the perfect fit for me.

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For more tips on starting or growing your small business subscribe to Melinda Emerson’s blog at www.succeedasyourownboss.com

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