Unlocking Success: The Advice Every Entrepreneur Must Hear
Ten years ago, if someone told me I would become a law school dropout who owns two successful businesses, I may have laughed in their face. The only thing that may have sounded more ridiculous would have been to add that both ventures will put me in position to help hundreds of entrepreneurs start and run successful businesses every year. Thankfully, even things that sound ridiculous can actually become reality. The truth is, I never had much of an interest in entrepreneurship. As a child, I watched my father work tirelessly to build businesses. Some were successful. Others were not. [bctt tweet=”What sets the successful and the unsuccessful entrepreneur apart is not luck, worth ethic, or even skills, its usually the power of flexibility. – @andrena_sawyer” username=”SheLeadsAfrica”] I now know my father was not alone in his plight because Bloomberg Research suggests that 8 out of every 10 businesses fail within the first 19 months. The Small Business Administration suggests that only half of new businesses survive the first five years, while only 35% are able to survive for 10 years. Despite my early exposure to the unfortunate side of entrepreneurship, I have come to believe that what sets the successful and the unsuccessful apart is not luck, worth ethic, or even skill. Most times, it comes down to the power of flexibility. When you first become an entrepreneur, you are inundated with solicited and unsolicited advice. There is an incredible adrenaline rush that comes from seeing yourself manifest what had only been a vision in your mind for weeks, months, and sometimes even years. Most of the advice is given with good intentions and meant to be motivational. Yet, some have absolutely no significance to you because your primary concern early on is simply to survive. Admittedly, I don’t remember much of what was said to me when I launched my first company. However, one piece of advice that has not only stuck with me but saved my business several times is to marry the mission and date the model. To marry your mission is to remember your why, and to maintain your covenant -so to speak- with that why. To date your model is to make flexibility a bedrock in your business. It is your how. I learned the true meaning of this after my first year in business. The excitement and adrenaline had worn off, and the money I’d saved up for the initial capital had depleted. I now faced “real” business issues like cash flow, leadership and human resource challenges, customer service and iterating our value proposition. [bctt tweet=”To marry your mission is to remember your why, and to maintain your covenant -so to speak- with that why – @andrena_sawyer” username=”SheLeadsAfrica”] While your mission – the reason you went into business and the need that your business solves should never change, the way your business does business had better change if it is to survive. This includes your marketing strategies, your price point, and sometimes even your company culture. All of these things are still connected to the mission, but this how allows you to stay relevant and top-of-mind. For some of us, we went into business to disrupt the industry. We were tired of inefficiency or annoyed that a few big players were monopolizing everything, leaving no room for anyone else to play. For others, there was a glaring need that one too many people complained about, yet no one was offering viable solutions. Then there are those of us who started a business because we recognized our gifts and talents and saw business ownership as a way to walk in our purpose. Remembering this is critical to success. It is your mission. It lays the foundation for the story that your business will tell. However, even that why is not enough sometimes. That is where dating the model comes in. The reality is there are many factors that influence your success as an entrepreneur. Some of these factors like industry trends, sales cycles, current events, economic upturns and downturns, and even your organization’s capacity are sometimes beyond your control. By adjusting your model, you develop a culture of freedom that allows your business to adapt to these changes. Ultimately, this hones your business’ survival instinct in difficult times and leverages positive trends in good times. This ability to be adaptable could very well be the deciding factor between being part of the success statistics or the failure rates. Got some advice that can help others succeed in 2019? Click here to share.
5 Simple Steps to finally launching your business idea
Was one of your new year’s resolutions to finally get that blog, podcast or business idea off the ground? Well, if so, I’ve got great news for you! I recently sat down with the amazing Tobi Olujumni who shared 5 simple steps that you can take to turn this dream into a reality. For anyone unfamiliar with her, Tobi is the founder of the WTALK, a Multiplatform Entertainment & Faith Network which empowers Women to explore Faith via entertainment. W360 is the membership streaming service of WTALK set to redefine Faith within global entertainment. She is a powerful communicator and sought after preacher of the Word of God. You can read the tips that she shared in our interview below: 1. Start small but do something First of all, I would say, start small. Start small but do something. I think that in the day and the society and the culture in which we live now, everyone expects you to have ten thousand followers or a hundred thousand followers, or what have you. And you’re almost deemed unsuccessful if you haven’t attained that. All of these things are just massive distractions. If you have something on your heart to create, I would say start small. If you want to start a blog, start writing. Start writing on your notepad. For example, it’s so funny because someone asked me about how I do status updates. Well actually, some of my status updates come on the train and I put it in my notepad. Then I get a kind of a nudge a few weeks later and I think “Oh, that’s for this time!” and I post it. So first, I would say, start small but do something. That’s big! Because, you know, I have a lot of people that come to me and they’re like “how?” or “what should I do” and I’m like “just do something!” It doesn’t have to be fantastic. I am a perfectionist but sometimes that can work against me because sometimes some things need to go out. Some things need to resonate. It’s not about the camera angles, it’s the message that needs to reach the person who needs it most. So that’s why I would encourage whoever it is to start and do something. 2. Be consistent And then I would say, be consistent. Be consistent because people like to trust that you’re going to be around. That’s how you build a community. That’s how you build a following- if people trust you; that you’re going to be around. And, if you think about it, if we look at any of the big, massive brands, we trust that they’re going to work. For example, if I log onto Netflix, I trust that the shows are going to be there. That’s because of their consistency and I think, as you show up and you’re consistent, people will build a trust towards you. People will build a trust towards your voice. 3. Know your voice The third one I would say to everyone is, what’s your voice? It’s incredibly crowded. It’s incredibly noisy. People are getting notifications left, right and center. So, what is your voice? It goes back to knowing your identity because I think your voice flows from your being. For example, I’m not creating anything today that doesn’t flow organically from who I am. You only have got to spend about an hour with me and you’ll know that’s true. So, I would say, what’s your voice? I hear people say they want to be the next Oprah. Good for you but Oprah exists and she doesn’t look like she’s going anywhere for now. What’s your voice? Because your voice will resonate to the place it’s supposed to be sent. 4. Be persistent and be determined And, after consistency and knowing your voice, be persistent and be determined. Your idea is not going to grow overnight. If you get it overnight, you’ll probably lose it overnight. It’s about legacy. It’s about building deep roots. Like at this moment, I’m not overly concerned with having millions of followers but what I am concerned about because we’re in our infancy at this stage (we’re under 5 years as a company), is building deep roots. Roots that are so deep our infrastructure is laid and it’s tight so we can build upon that. If your infrastructure’s dodgy, if the foundation’s dodgy and you’re trying to get to 100 followers, the whole thing’s going to collapse. The fact is, if you don’t want the long endgame, I would challenge you to question why? What is your why? If you just want to make a little bit of money- you can do something else that is less stressful. If you want it now, I would challenge you to question your why. If you get your why, then you’ll know it’s definitely a long run. 5. Be passionate You must be passionate about what you’re doing because you have great wins and you have days where you’re just like “oh my goodness!” And I just think, the thing that keeps me going is my why and my passion. It’s the passion- seeing who you’re hoping to help or who you’re hoping to bless or who you’re hoping to communicate with, it’s those things. Having a little reminder on your phone is really helpful too. Got an article you’d like to share with us? Share your story with us here.
The art of dusting yourself off
What’s the difference between successful business people, and those who are less so? I’ve always wondered about this and for a while, I thought it boiled down to factors such as innovation, technical know-how and networks. I have since found that while these factors play a large role, a lot depends on your ability to self-motivate during the down times. It is easy to be focused when things are going your way, but this is not always the case when the reverse occurs. This partly explains why a majority of small, medium and micro-sized enterprises (SMMEs) do not get to year two of their existence. Running your own business means you are forgoing a predictable source of income for something that you have no guarantee will work. Yes, you go into it having done your homework and armed with a clear projection of your revenue. But, we know what they say about the best-laid plans. The reality is that business is tough. It is not for the faint of heart. I have come across a lot more ‘depressed’ business people than happy fulfilled ones. Hell, I have had more down moments in the space of a year and a half than I’d ever had in my entire professional career. When you are in the services business like some of us, the going can get a lot tougher than most. So, if the harshness of the entrepreneurship path is so prevalent, how come we hear very little about it? Human nature prohibits people from admitting that things aren’t what they thought they would be. It’s as if doing so makes you less human, better yet, less ‘entrepreneurial’. We walk around pretending the world of business is fine and all of us are making money and not spending sleepless nights wondering where payroll money will come from. You end up feeling discouraged and exhausted, sometimes even considering the attractiveness of a predictable income. When this moment hits, it’s easy to forget all the good things that attracted you into your business industry in the first place. You forget all about the well-laid strategies that you have developed over time and the urgency to generate cash becomes a dominant factor in your mind. At this point in the journey, it’s time to dig deep into your internal resources. No, I’m not talking about spirituality. Accessing your inner resources takes a clear understanding of the following: You are not unique Everyone goes through dips in every area of their lives. You are not unique. Don’t worry, you won’t die from it either. Understand that even the ones you admire today went through the struggles you are going through. It passes and it comes back again, get used to the cycle. If it comes easy, you’ll take it for granted I have learnt that when things are handed on a silver platter the amount of care we place on them is different to when you work for it yourself. Make sure success is important to you, that way you give things you work on all you’ve got. Dusting yourself off is a skill you learn Mental fitness does not just happen overnight, it is a skill that gets better with exercise. The more you use this skill, the better it becomes. All it takes is knowing what you want to achieve and knowing and believing that you have all you need to realise it. In addition, remembering that obstacles are part of the game and a chance sometimes to recalibrate. Get used to downtime We all go through down moments in every area of our lives, it’s even worse in the world of business. There are many businesses offering similar goods and services and it is always about reinventing yourself. Sometimes it goes your way, other times it doesn’t. Failure is also part of the journey and that is normal. How you move from the dips is what determines the level of impact you and your business will have for the next generation.
How to be a badass? 5 Epic lessons from our favourite TV Moguls and their creator Shonda!
Unless you have been living under a rock, or generally lack interest in everything pop culture related, you’ll have seen or heard about one of these shows: Grey’s Anatomy, Scandal, Private Practice or How to Get away with murder. The brain behind all of these television gems is Shonda Rhimes, the most powerful woman in television. She’s the first African American woman to run three consecutive shows on television’s most expensive real estate: Thursday night. More than being an incredible writer, Shonda is also an example of what it means to be a badass leader and how to turn your dreams and aspirations into reality. She wrote a book recently called ‘Year of Yes’ and it is not only incredibly moving and hilarious. It also teaches many lessons about getting to the top in your respective field. Here are 5 lessons from Shonda and her incredibly written female lead characters: Annalise, Olivia and Meredith. Annalise Keating – Think on your feet For those who follow HTGAWM (How to get away with murder), if there’s one thing we can learn from Annalise it is the ability to think on your feet. She is the fast-talking attorney on the show and is quick to come up with arguments to defend her clients. She ultimately created the twisted story that let her students get away with the murder of her husband. Though a bit dirty and twisted, I still think there is a lesson here. In whatever field you are in, immerse yourself in it, so that you can draw from different aspects when you need to. Annalise knows the LAW. Therefore, she knows how to get around it and make it work for her. You want to be an entrepreneur, but do you know the rules of the game? When you find yourself in a difficult situation, it’ll be those moments you had invested in knowing your craft that will get you through. Do the work, and when you do, be better than Annalise, and use it for good. Olivia Pope – He is not the sun, you are Arguably one of the most drawn out love stories in television history took a turn for the crazy when Olivia moved into the white house to be Fitz’s girlfriend. For those of you who don’t understand why this broke all of our hearts, it would be the equivalent of President Clinton moving Monica Lewinsky into the White House as his girlfriend at the height of the scandal. Yes, it was that crazy. Although there is no doubt that Olivia loved Fitz, what became clear as she lived out the role of First Lady was that it was not who she was and she had the courage to do what she knew she had to: end it and move out. The truth is, sometimes love is not enough. Your life goals need to be aligned with your partners, otherwise you will be betraying yourself. He is not the sun, you are! We need to internalise this to be the Motherland Moguls we can be. There will be times when you will have to make sacrifices, but you should never have to sacrifice yourself. Remember that .ladies, and choose wisely. (Preferably not a married president like Olivia. Let’s try to keep it drama-free.) Meredith Grey – It takes a Village The saying ‘no man is an island’ has taken on new meaning as I have spent the past 11 seasons watching Meredith Grey go through all sorts of heart shattering life events in Grey’s Anatomy. Most recently (spoiler alert), she gets attacked by a patient and loses her hearing and her ability to move for weeks. She has 3 small kids! How will she survive? The answer is simple: she has a village of people who will do whatever it takes to look after her. As I wiped my tears watching all of her friends step up to look after her and her family, I was reminded of how she did the same for each and every one of them at a different time. It makes sense. We cannot rise to the top alone, we need to realise that the people around us have a serious effect on our ability to reach our goals. Get your immediate circle right. And the best way to do that is to be the type of friend you wish you had. This will heavily pay off in the future. Life is full of uncertainties and we cannot control what will happen. All we can do is put ourselves in the best position possible to deal with whatever life throws at us, and a huge part of that is the people you can call on no matter the situation. Do you have those people? If not, are you that person to anyone? From creator, Shonda Rhimes – Dreaming is for losers This point for me was very difficult to internalise. I am a dreamer, it is in my blood. The phrase: ‘dream come true’ is featured on my blog over a gazillion times. Shonda as the badass leader that she is really burst my bubble on that one. The people who get things done are not the dreamers, they are the doers. Shonda explains: ‘I wanted to be Nobel Prize-winning author Toni Morrison. That was my dream. I dreamed and dreamed, and while I was dreaming, I living in my sisters basement (FYI dreamers always end up in a relative’s basement). I actually couldn’t be Toni Morrison because she already had that job and wasn’t planning on giving it up! One day I read an article that said it was harder to get into USC film school than Harvard business school. I could carry on dreaming or I could do. At film school, I discovered an entirely new way of telling stories… a way that flipped this switch in my brain. Years later, I had dinner with Toni Morrison. All she wanted to talk about was Grey’s anatomy. That