The Necessary Slow Burn of Business Growth

Consider this. Each spring it’s common practice to burn the tall grasses of the prairie. The reasons for this man made fire are those to benefit the prairie and it’s natural habitat – to remove old growth, put nutrients back into the soil and promote new growth and abundance. The prairie needs this fire to exist. As reckless and destructive as this once seemed to me as a child, I’ve come to understand and appreciate the prairie’s need for this slow, controlled burn. But now as an adult, reexamining this yearly ritual made me question another aspect of these prairie fires.

Why not just use gasoline, light a quick blaze and take care of the whole field at once? Why does it need to be a slow and smoldering fire – a process that seems to be so needlessly drawn out?

The answer to this question is actually quite strategic and far from needless. The slow, controlled burn of these tall prairie grasses is necessary for achieving all the ecological benefits that it does. Gasoline would absolutely ruin the soil and prevent these tall grasses from ever growing again. And a large wildfire would wreak havoc on other parts of the ecosystem (not to mention holds the potential to easily burn out of control). So why am I choosing to tell you so much about these prairie fires? It’s because I see an important lesson on life and business building within these flames – a lesson that speaks to both patience and strategy.

Letting it burn (slowly)

For anyone who has ever attempted to build a business, the process of growth is unpredictable and unstable at best. We want to believe, that like any model growth chart illustrates, our business will grow with dramatic spikes until we blast off the chart. But this is neither common nor sustainable for 99% of businesses out there. Instead, like a prairie fire, the healthiest and most lasting business growth is a steady smoldering that inches onward day by day. I define this as healthy growth because it’s growth that blazes a new trail while giving us enough time to stay right in tow. We control it; it does not control us. This is also the type of growth that strengthens a business as oppose to a wildfire which could burn it all down. Most importantly and much like the prairie fires, this slow, controlled burn weeds out the old while laying the rich foundation for future growth. It’s a change that moves at the pace of evolution, and it should be our goal to evolve patiently and strategically as such.

Avoiding the temptation to rush

With technology at our fingertips and our society of ever-connectedness, our accessibility to “gasoline” is endless. This causes a great temptation to rush the process of the slow burn just because we have the means to do so. But as ecologists have proven and stressed, this quick and fast method is not always beneficial, and sometimes harmful, depending upon what you’re trying to achieve. For the slow burn of business growth, you’re trying to achieve much more than a burnt and barren field. You want to preserve the ground and burn only what is necessary. Gasoline won’t allow you to do this. We have to avoid the temptation and let things progress on their own. Instead, we often want to ignite the fire with things like an overkill of paid advertising (this is often a waste of precious capital in the beginning) or gimmicky deals (this often pulls in the wrong client base). Such “shoot-from-the-hip” strategies may produce big flames for display, but at some point these flames will cause destruction or someone will get burned. As I’ve mentioned before, such growth is neither sustainable nor beneficial in the long run.

In life or in business, have you ever personally experienced the temptation to rush a critical process? Maybe this is a process of growth, a process of healing or a process of change. While it’s tempting to want to overcome these uncomfortable and even painful moments in life quickly, rushing the process can prevent us from receiving all of the benefits they’re meant to bring. Learn to appreciate the slow fires we have lit and know that they are with the purpose and intent to make us stronger and more abundant.

 

Fear Factor: Why this emotion is necessary for success

The inspiration for this week’s blog post comes from one of the world’s best-known thinkers who I happen to find absolutely fascinating—Plato. He’s credited with this wisdom, “Courage is knowing what not to fear.” Like most philosophies or proverbs, they’re simply stated, but the endless possibilities of meanings and applications run much deeper. I liked this quote from the first time I heard it, but now as a business owner and entrepreneur, every quote I see or re-read seems to also be applicable to business and success in some way. This one is no exception.

I wrote not too long ago about fear and inspiration as being the two ultimate motivators. In this breakdown I examined how each motivator results in very different types of actions. What this topic did not allow me to expand upon is how fear, though not the preferred motivator, is still an essential part of success. We should never be without at least some fear in our lives for the same reason we should never be without pain. These are the emotional and physical indicators that we’re doing something that’s stretching our limits – it can be a good feeling when it’s that of growth. Once we move outside of this “good growth” area of pain and fear, they then become the indicators that we shouldn’t go any further. This is what keeps us from destroying ourselves (or our business or our relationships). Thus, the goal shouldn’t be to overcome every fear; it should be to overcome the unnecessary fears.

When NOT to fear

“Courage is knowing what not to fear.” But how do we know what is fear-worthy and what we should push to overcome? This differentiation might be the most critical component to ensuring we’re exhausting our options and not ourselves. Unfortunately, Plato didn’t go on to further describe how we might know what to fear; he left that for us to figure out on our own. During my experience of quitting my job, taking a chance on starting a new business and overcoming the expected ups and downs of entrepreneurship along the way, I’ve had to face quite a few of my own fears. In the beginning I feared losing any client or getting turned down for any project. I’ve since realized that this is something I should not and cannot fear if I wish to excel in this industry. The possibility for rejection and change are around every corner, but this does not stop me from continuing to seek new clients and put my hat in the ring for proposals. The fact is, if I got every client I created a proposal for and kept them ongoing, I would be very overwhelmed and my business would not have the same opportunity to re-evaluate and refocus its client base every so often. That same rejection and change that I once feared is now my natural business cleansing process that I’ve come to appreciate. In this example, I found courage not by eliminating this fear or avoiding it, but by learning that it’s something I should not fear at all.

 When to fear

In contrast to knowing when not to fear, it’s just as important to know when a fear is reasonable, logical and a valuable safety mechanism. Again to provide an example from my own experience, I’ve become very in tune to the fear of sacrificing my standards or quality of work to accommodate a client. When business is slow and you’re looking to just pay the bills, it’s a natural instinct to go into survival mode. It’s OK to work for reduced rates or take on less than ideal clients for a short period of time to help pay the bills until your business is again revived. But fear rises up whenever I feel as though I’m lowering my standards or providing sub-par work to meet these reduced prices. I would rather turn away a client if it’s not a good fit than to squeeze and stretch to make it work and have us both be supremely dissatisfied in the end. In this case, my fear helps me to protect my personal reputation and to stay focused on the direction I want my business to go. It keeps me from digressing into offering services more aligned with a personal assistant or data entry and to protect my time for future clients that require the PR services in which I specialize.

Being courageous

I would like to believe that “courageous” is a term that has become synonymous with “entrepreneur.” It’s no easy feat to go against the grain, open your own business and pursue your dreams. It’s hard to watch peers continue down a path that’s well-beaten and easy to see miles into the future. Entrepreneurs don’t get that. We blaze our own path and often have the scars and exhaustion to show for it. But this is all with the hope that the path we choose to follow leads us on a better journey – a journey we control and can change at any moment. Ultimately, this takes courage and because “courage is knowing what not to fear,” we have to make the effort to look within and separate true fear from perceived or imagined fear. This is a critical step in both personal and business development. So, get to know your fears – intimately – especially the ones that can become your moral compass and business instinct.

 

A Price For Passion: Being smart and fair when pricing your services

As a business owner and entrepreneur, one of the hardest challenges is figuring out a consistent pricing system for your services. Even with almost two years now under my belt, this is one area of my own business which can still be overwhelming and stressful at times – mainly because it also carries so much weight. How you price your products or services has a direct impact on the money you make or the clients you turn away. There are many reasons to want to undercut competitors and to offer the cheapest bargain around, but then there is the challenge of putting a price on passion. As entrepreneurs, we are much like artists and inventors.  It’s hard to keep an unbiased perspective on something we quite often view as priceless.

A quote by Henry David Thoreau that I truly love is, “The Price of anything is the amount of life you exchange for it.” Though I appreciate the underlying message of valuing our time, this mindset would make it impossible to ever set a price for my writing and creativity that was fair to both me and my clients. But luckily, just as much as I am an artist with the pen, I am also a businesswoman. This balance has allowed me to build a smart and strategic method for pricing my services without undervaluing my time or talent. Here are just a few of the guidelines that I’ve come to rely upon when placing a price tag on my passion:

Determine your hourly rate

The first hourly rate I set for myself when I was still freelancing my services in college is a mere fraction of what I now charge. However, it was a price that was fair for both me and my clients at that time. It was a nice increase over the minimum wage I was making at my other side job and to my clients, although they were working with a college undergrad, the price was a steal for the quality of work they received. After graduation, I was able to increase this price because of the formal degrees I had earned. I was sure to communicate this with existing clients and positioned it as a “value added” to my work and professionalism. Because it still remained well under the industry’s going rate, I received no negative kick-back from this increase. With the start of every New Year, new contract or new client, I have the ability to adjust my pricing. For clients who remain with me over the months and years, I offer them the loyalty benefit of “grandfathering” them into their starting prices so long as the scope of work remains the same and it’s not a significant opportunity cost.

Your years of experience and education/degrees will have an impact on how you price your services. I’ve found that remaining even just $5 under the hourly rate of the “industry norm” gives you a sizable advantage. While I don’t dismiss that this small difference in hourly rate can certainly add up over a large project, a small discount still earns you far more money than not being selected to complete the project at all. The best way to get a feel for the pricing of your competition is to talk with clients and people within your network who have worked with other similar contractors – they can also give you their honest opinion of what price range they are most likely to hire within.

Bundle your services

It’s standard – and smart – to have a set hourly rate because this is a common question clients potentially seeking your services will want answered. While I do have an hourly rate, I rarely charge by the hour on my proposals. Most often, I use this hourly rate to estimate the maximum cost for a project, but aim to lower this significantly for a client by offering service bundling. With bundling, I discount my rate in exchange for a client who chooses to hire me for more than one service. For example, I may offer a proposal with several communications strategies including writing web site copy, newsletter content and updating their social media profiles. When contracted separately, these services would be higher than if a client should choose to do them all together. The benefit to the client is of course the cost savings and the benefit to me is the security in work. Often clients will just want to know your hourly rate before you discuss much else, but I am sure to include that my hourly rate is discounted when combining multiple projects. This also helps me to create a more cohesive and effective communications strategy than just one project alone. The service bundling is an incentive to do more for the best price possible.

Reward efficiency

When providing my clients with a proposal for my services, I emphasize that the price I quote them for is the guaranteed maximum that will not increase so long as the scope or size of the project remains as we discussed. This is important because all too often we’re hit with unexpected price increases from every angle in the form of electric bills, cable and internet and the list goes on. It’s nice to offer clients something that’s a bit more stable which allows them to better budget. Also, once I provide my clients with the best possible price (bundling services, maximum price guaranteed, etc) it’s now to my advantage to work efficiently. If I estimate a project taking me 8 hours, I certainly don’t want to procrastinate and stretch this project into 14 hours. That’s a waste of my own time and earning potential! Instead, the way I price my services encourages efficient work which means my clients often receive their project days if not weeks before our agreed upon deadline. When pricing your own services, I suggest structuring this in such a way that you reward your efficiency while offering your clients stability. This is a great way to earn respect and trust while earning the most money for your time.

What are your thoughts on pricing your services? Where do you most struggle or what are some ways to make this less of an overwhelming task? Share your comments or questions and let’s get this important discussion going!

 

Shifting Away From Shift Work: Forgetting the Life of a 9-5er

I realized I’ve now spent more of my career as an entrepreneur, building my own business and setting my own schedule, than I have as a 9 to 5 employee to someone else. It’s a milestone I’ve proudly earned by taking many other risks and sacrifices, but I still can’t help but a feel little spoiled for the life this has provided. When my friends or family encounter a restriction because of their work schedule, I’m oddly aloof as to what this feels like. I’m unable to recall what it’s like to have to report to a desk every day at a specific time and stay there regardless of what, if any work needs accomplished during those exact hours. Work doesn’t always come in between 9am and 5pm and it certainly doesn’t stop coming in at all other hours of the day. This raises the question of why, with all of the technology that allows us to work from virtually anywhere, do we still chain ourselves to a desk for a block period of time?

I don’t know who I should credit for its original quotation, but this following thought often weaves itself into my conversations with people who ask me about entrepreneurship. “As an entrepreneur, you get to choose the 80 hours a week you work.” The hours of work per week will change, but the message remains the same. Entrepreneurs may put in long hours, but at least we get to choose these hours. This allows us to weave work around life, travel and important events that we may otherwise have to choose between. I jokingly say that if I worked a 9 to 5 job, I would max out my vacation days before February of each year and with every passing year this joke becomes more of a reality. I’m grateful that the length of my vacations, holiday breaks and time spent with family are at my discretion. With a husband who also runs his own non-profit, I’m quite certain that without our flexible work schedules we would be like two ships passing in the night. Instead, I’ll join him on a business trip and work from hotels and coffee shops. Or we’ll both choose to work from home for a day to spend a little more time together.

When you’re an insomniac they say that you’re never really asleep and never really awake. As an entrepreneur, I feel quite similar with my work schedule. At any given time I never have to be working, but I’m also never not working. Email and cell phones connect me at all times with my clients, so whether I’m sitting in front of my computer or out grocery shopping, I’m just as accessible. This allows me to do anything at any hour of the day and so I try to be strategic with when I do what. For example, entrepreneurship has allowed me to visit the doctor or hair salon at times when most people have to be at the office. I can do my grocery shopping when the store is dead rather than fighting with the weekend traffic. I also schedule my meetings to avoid rush hour so I can easily sail down the highway and spend more time than absolutely necessary in transit. These may seem like small perks, but I couldn’t imagine life without them.

I’m barely able to remember what life was like when I had the same exact routine every morning and a set time to be out the door. Every so often these clouded memories come back when I find myself scheduled for an early morning meeting or poor planning has left me stuck in commuter traffic. My immediate reaction is “How do people do this every day?” After the moment passes and I re-enter my entrepreneurial world of constant change and variable schedules, I realize this is also a reasonable question that anyone else may choose to ask me…

 

Fear or Inspiration: The Two Motivators That Makes Us Move

We see it in the news, read it in a magazine or hear it within our networks almost every day. There’s some new start-up that’s growing exponentially and breaking all kinds of projections. They’re on the fast track to becoming the “next big thing.” It’s enough to make any small business owner or entrepreneur want to throw the old adage of “slow and steady wins the race” out the window.  Who wouldn’t want their business to skyrocket to Facebook-like fame? From my own experiences and observations, I’ve found that for any business that’s progressing and expanding at warp speed, there is most commonly one of two causes for this type of growth. The differences between these causes are paramount to the ultimate success – or implosion – of the business.

Most simply defined, the two motivators for momentum are fear and inspiration. For most businesses, it’s easy to pick out which they’re experiencing. The difference can be seen in whether their actions to accommodate this growth are proactive or reactive. Not all speeds of growth are beneficial if it comes at the risk of ruining your business or losing your sanity.  The ultimate goal for any business experiencing a period of growth should be to run like you’re crossing the finish line, not like you’re being chased.

Running Scared

Especially seen in start-ups, where one good viral marketing campaign can create an insatiable consumer demand almost overnight, the momentum of business growth can make you run like you’re being chased. You’re reactionary. There’s no time to create a sensible growth plan when you’re barely able to keep up with the current demands of the business. You’re not running the business, the business is running you – or after you, rather. Sure it’s momentum and to the outside world it appears that you’re making significant progress, but in reality you’re shooting from the hip with every decision. My political experience has provided me with far too many examples of organizations who function out of fear. Jokingly we called it organized chaos, but this reactionary behavior to everything thrown at us resulted in frequent mistakes and missed opportunities. In retrospect, these situations would have greatly benefited from even just an hour or two of critical planning. This small investment of time in the short term would have given us a more proactive plan to turn to in the long term. For any business or organization that appears to be “running scared,” it’s never too late to pump the breaks and replace this fear with strategy.

Running Toward A Goal

In contrast to the first type of motivator – fear, the motivator of inspiration produces quite a different result within a business. To the outside world movement all appears the same, but inside you can clearly tell a business that functions off of a well thought out growth strategy. Unlike running scared, running toward a goal helps you to make even big decisions with less effort. Your strategy – or finish line – helps you to see the obvious answers. You’re calm, confident and collected because your focus is on anticipating the next step not reacting to the last hurdle. The inspired movers are the business owners who are able to appreciate the growth of their business, not come to curse it. Most importantly, when you have inspiration as your motivator, not fear, you are in complete control of the direction of growth. You’re able to pick and choose the opportunities that best align with your goals. When motivated by fear, you’re more likely to take on every opportunity that comes your way regardless of whether it’s the right fit. I once had someone give me the advice, “Pile as much on your plate as you can. You can always take it off later, but you can’t put it back on.” I was hesitant when I first heard this and have since learned that it’s very bad advice. Be strategic with your opportunities and don’t give into the fear that tells you another one may never come your way – with enough talent and inspiration, they always do!

In thinking about your own business – or even your personal life – which type of growth do you most familiarize yourself with? Are you running scared or are you running toward a goal? There’s no questioning the accuracy of the term “growing pains.” Growth means change and change is often uncomfortable. What’s important to remember is that between the two motivators that make us move – fear and inspiration – one drains us while the other fulfills us.  It’s important to seek out the latter to ensure that even during the most uncomfortable periods of growth that require us to stretch our limits, we have a finish line in sight and a strategy to get there feeling like a champion.

 

The Size of Success: A Profitable Business Doesn’t Require a Big Business

Whenever someone asks me what I do for a living, I’m finally at a point in my life where I’m excited and proud to tell them about my entrepreneurial journey and some of the great experiences it has provided along the way. When I held previous jobs and was asked this same question, I always felt as though I was making excuses, downplaying my position or glossing over my current career to talk about the career I one day aspired to have. It’s an incredible feeling to be living your passion every day as a small business owner, but I believe some misconceptions still exist about our measure of success. This most often rears its head when the inevitable follow-up question to owning my own business is, “How many employees do you have?” The unexpected truth is, it’s just me. I’m a sole proprietor, or S-Corp, and I’m small by my own design.

Small By Design

Not every business will or should follow the template of growing by X number of employees every year. The fact of the matter is that it’s not every business’s model to grow in this direction. Depending upon the service or product, it’s simply not necessary. And if it’s not necessary to have this many employees, why carry the extra overhead and liability? Outside of my residual monthly clientele, new or one-time projects for which I’m contracted are very unpredictable. In one day I can receive multiple new leads or things can be quiet for weeks. As a business of one, I’m able to tuck my tail and reduce my overhead to nearly zero when I’m in a business building phase. And when I’m swamped with work and requests for services, I can easily call upon my network to contract out certain work that’s more efficiently handled by their expertise. I love contractors and freelancers for the very same reason I am one to so many businesses. When times are great you can go full steam ahead and as soon as work slows down, you can cut back and preserve precious capital. Bigger businesses can’t do this as easily. They’re stuck with fixed expenses like rent and salaries that need to be paid regardless of cash flow. Another major benefit I see to being a business of one (at least for right now) is that I am accountable to my clients and that’s all. I don’t have to worry about keeping regular office hours to also be accountable to employees. I can travel as I please, work from home, set my own schedule and take vacation without the slightest sense of guilt so long as I maintain my work for my clients. While being small by design is not a luxury every type of business can afford, I highly recommend enjoying it for as long as you can. So long as you don’t measure your success by the size of your office or staff, this is a very strategic and enjoyable model for an entrepreneur.

The Measure of Success

What do you commonly use as the measure of success for a business? I know before I began my own, I was guilty of asking the common questions of “How many employees do you have?” or “Where is your office located?” to judge the legitimacy of a business. I’ve since had my eyes opened to the endless varieties of business structures that exist and most surprisingly is that I really have not found a strong correlation between size, structure and success. What I have found is a strong correlation between success and the type of leader running the business. Having been down a similar path, I’m now profoundly more impressed with a small business (especially consisting of one person) that provides the same perception and level of service as a firm two or three times its size. At the end of the day – or the fiscal year, rather – the profitability and success of a business is not determined by the number of employees or square footage of your office space. What it is determined by is your drive and dedication to seeking out new clients, providing exceptional service and functioning above the level of your competitors. And for me at least, I can efficiently and comfortably accomplish this right from my home office!

Have you ever owned or worked for a business that was small by design? How did you measure your success if not by the number of employees or size of your office? Share your thoughts with us by commenting below!

 

A Low-Information Diet – The Solution for Overwhelm and Overload?

When I was in college I struggled with the perceived pressure to always be “in the know” with local and national media. As soon as I woke up I would turn my TV to the morning news as I checked emails and got ready for the day. On the way to class I would grab our Daily Collegian and a USA Today and scour the top headlines. During breaks I would sit with my phone and scroll through the feeds from various news apps. For all intents and purposes – I was completely wired. I self-prescribed this high-information diet so that I would never appear oblivious or ignorant to the outside world I was just learning to navigate. I was utterly convinced that absorbing as much media as I could was the only way to ensure I could hold a mature an intelligent conversation in the real world.

The building of this pressure was amplified by my communications professors’ preaching to always stay informed, to subscribe to at least 5 news sources a day and to read, read, read. It made sense. If I was going to excel in the field of communications, I needed to understand how people communicate and join in the conversation! I quickly allotted what little free time and free mental space I had remaining to becoming a media watch dog. Once out of college and in the midst of a hectic political campaign where information overload was the first line of the job description, I still tried to absorb the news from several different sources daily on top of everything else expected of me.  Every day was filled with overwhelm.

Then there came the critical moment in my life, the moment that if mapped out on a timeline would look something like a black hole, that I finally found the volume knob on my information feed and turned it completely off.

As you might imagine this was the time I spent re-evaluating what I really wanted to do with my life, what would make me most happy and what I had to do to get there. This was when I became an entrepreneur. It was during these critical weeks that I simply had no time or concern left for a high-information diet. All I knew was that what I was currently doing was making me miserable and I needed to stop it all in order to pinpoint the cause. So what happened when I stopped checking my phone and email, turned off the TV and closed the newspaper? Absolutely nothing. Nothing blew up, nothing burned down, I wasn’t accused of being ignorant and my career wasn’t the least bit affected. In fact, for the first time in a long time I found myself with some free time and free mental space to dedicate to things I actually cared about. The news feeds in my email no longer existed to serve as another to-do and I wasn’t under the same stress to absorb every piece of information around me and store it for later use.

I didn’t become blissfully ignorant, I became selectively ignorant.

So you might expect that with the start of my own business, I began to work this information back into my daily routine. You might even expect for me to brag about how many news sources I consume in a single day or how my finger is always on the pulse of the universe. This simply isn’t so. I still continue to enjoy a low-information diet to this day and I truly believe the benefits I receive from this are far more important and impactful than what I would receive returning to my old routine. My day begins by immediately getting to client work – not slogging through news headlines that may or may never be of any value. My inbox isn’t overloaded with unimportant emails that are basically self-inflicted spam. Most importantly, my mental focus has drastically improved from where it was years ago. I feel clear, calm and collected. This allows me to complete projects more efficiently which in return gives me even more free time. I turn this time into far more meaningful results than simply absorbing the chaos of the news world. Most enjoyable, I’ve found a fountain of focus to write and really dig deep into my thoughts. It’s this low-information diet that helps fuel the Bennis Inc Blog.

Ultimately, by exposing myself to far less information, I only expose myself to the right information. When I do choose to read or learn something, it is far more likely to be absorbed fully and used immediately. I‘m no longer in the business of seeking and storing information that can’t be of immediate value.  When I need information, I get it on demand. This has proven to be far more effective than reading, storing and trying to recall that same information through years and years of mental clutter. But most noteworthy is how moving away from a high-information diet has completely changed my mood, my sense of overwhelm and my amount of free time. I still fear becoming ignorant or oblivious to the outside world, but I now know this has no correlation to the amount of news I force feed myself in a day. As long as we remain hungry for knowledge and seek it out as we need it, we will stay as informed as we want to be –without the overwhelm or overload.

What type of information diet do you exist on? What do you think would change if you made the switch to a low-information diet? Share your personal experience with information overload or cutting it off completely!

 

The Most Dangerous Risk of All

Entrepreneurs are often given the credit for being the risk-takers. We are the ones pictured as taking the leap of faith and throwing our careers and concerns for stability aside to begin something all our own. While there is a great reward in store for those who make it to the other side, this comes at the risk of miscalculating our steps, not making ends meet and losing it all for something that adds up to absolutely nothing. This is a large risk no doubt, but I no longer see this as the most dangerous risk we stand to take in life. The most dangerous risk of all is the risk of spending your life not doing what you want on the bet that you can buy yourself the freedom to do it later. It’s the risk most of us take every day in our life and in our careers, not by consciously making risky choices, but by subconsciously burying them deep within. It’s not the risk of losing comfort and stability that we should be most scared of, it’s the risk of never knowing anything else.

I used to be one of these dangerous risk takers. I remember thinking that if I could hang in there so many more years I would be able to ensure a stable retirement package. This would have cost me almost a decade more of my life, yet I was willing to look at it as a worthy investment of my time all for the promise of finally being able to do what I really wanted several more decades down the road. I was only 23 yet I was sitting there, in my windowless cubicle, convincing myself that doubling the years of my life with work I felt no passion toward was the smart and stable investment. In retrospect, the “quarter-life crisis” that came on not too many weeks later and seen by some as reckless and arrogant, truly saved my life.

We all have a life that can be saved. This doesn’t mean we need to be to the point of depression or dark thoughts, this simply means we all have years of our life that we are at the risk of misusing with meaningless work unless some inspiration or motivation should force us to see our future one of two ways. If you’re unhappy with where you are right now, whether this is in your personal life or your career, you can take one type of risk which is to change it. With this, you risk being pushed outside your comfort zone, thrown into entrepreneurial survival mode and challenged to explore who you really are and what you’re made of. This is not comfortable nor is it stable. Or you can take another type of risk which is to do absolutely nothing. It may not feel like you’re making an active decision to take such a risk, which is what makes it the most dangerous risk of all. It’s the risk that slowly creeps into our lives disguised as comfort and stability. Only years later can we look back and see that at the risk of keeping these two crutches, we lost years spent living something much more fulfilling.

With so much emphasis placed on retirement as the time in our lives when we can finally do what we actually want, it becomes engrained in us early on that we must work the majority of our lives to fully enjoy it only when we’re old. But what about fully enjoying life while you’re young? This doesn’t come with the recommendation of quitting your job with no plan or living life as an aimless drifter. Much to the contrast, this comes with the recommendation of having a very specific plan that aligns you with making a passionate living and creating an extraordinary life at every age. It means setting goals and taking the initiative to meet them – something that dangerous risk takers don’t do. And it means creating the type of life that you’re excited to live every day, not just when you’re 55 and ½.

While you may not think you embody a real risk taker, just remember that if you’re not willing to risk it all…you already are.

 

Moment versus Momentum: Learning to Harness Fleeting Inspiration

While pursuing a career in the uncharted territory of entrepreneurship, I frequently encounter other entrepreneurs along my journey. Some are decades ahead of where I am (and hope to be) and others are merely minutes into their decision to take the leap. Among this group of individuals, the veteran entrepreneurs always seem to have at least one quality in common regardless of industry or age—they have momentum. For the greener entrepreneurs, I struggle to access whether they possess this same momentum or whether their inspiration is merely a fleeting moment. The difference in the meaning of these two words – and the affect they have on the success or failure of a dream – is far more profound than two little letters. Rather this “um” holds the inspiration, the drive and the courage to turn a single moment into a momentous career.

Is your dream a mere moment or does it carry momentum?

Among your friends and acquaintances, think about those who you would consider a dreamer or an entrepreneurial spirit. Chances are you have a variety. These people are likely different, each with their own qualities that earn them a spot in this category. Now think about those in this group who have taken a goal or idea and are in the active process of taking it to the next level. Chances are this no longer applies to everyone you originally thought of. Maybe those that don’t fit this description more accurately fit the description of coming up with brilliant and creative ideas one day, but then you never hear or see anything more about it. This is the truest differentiation I can illustrate for you between moment and momentum. I, too, have contacts that I would consider entrepreneurs at heart, but this doesn’t mean every one of them has become a real life entrepreneur. Instead, there are those who think of innovative ideas all the time, but I’ve learned to not get too excited for they’re just having “a moment.” By the next month or even the next day, the big plan for a life change has already been forgotten as quickly as it was conceived.

How do we harness this moment of inspiration and turn it into momentum?

At the root of this problem are the differing qualities of each individual. Not everyone is meant to be an entrepreneur, just like not everyone is meant to be a doctor or a rocket scientist. We all have different strengths and for some, this is taking an idea from conception to completion. For others – this is a weakness. But just like how you were told when you were little that, “you can be anything you want when you grow up,” you CAN become an entrepreneur and find your inner momentum regardless of prior failed attempts. You have at least two options to better harness your moments of inspiration and turn them into something more substantial.

First, you can commit to making a personal effort to stop the bad habits that have led to loss of momentum in the past. This includes procrastination, lack of confidence, fear of hard work or fear of failure. Just as you would commit to quit smoking or lose weight, changing any existing habit takes energy and effort. Pick a single, well-defined goal and create a timeline of specific actions. When I knew I wanted to begin my own business, I defined all the steps I had to take to reach the point of leaving my former job. I knew I needed a functional web site, enough clients to pay the bills and to register myself as an official business with the government. And so I added these to my timeline and was specific in the actions I had to take to achieve them. Every day I would assign myself one immediate thing I could do to further this timeline, whether it was sending an email to a prospective client or creating a blog. These immediate action items prevented me from falling victim to procrastination or overwhelm because they kept me on track and made me feel accomplished each and every day. Over the course of a week and then a month, these actions ultimately came together to achieve my bigger goal. I still use this tactic when I’m in a phase of business growth.

If you’ve tried or are trying to change your habits to become a person of momentum, but it just isn’t picking up as quickly as you’d like – it might be time to consider the second option. You can team up with another person or group of people who will provide complimentary skills to help turn an idea into reality. Not every business is a sole proprietorship and that’s because sometimes working together is the only way to achieve a goal of a certain scope or size.  If you have an idea for a product, but have no knowledge or direction on where to start with manufacturing it; find a partner who can provide expertise and connections in this area. A partner or team will also keep you accountable to your ideas and actions. It’s not so easy to let a dream fade if the dream is shared by many different people.

In talking with even the most successful entrepreneur, I would be shocked to hear that they never once had a failed idea or fleeting inspiration prior to their current business. To find our true calling, we must allow our mind to wander as creatively as it chooses without feeling pressured to turn every idea into reality. But when you do dream up an idea that you can envision changing your world, or the world of many others, you must find a way to harness this inspiration and keep it moving. Sometimes all it takes to turn a moment into momentum is the willingness to change yourself or team up with others…and of course a little “um!”

 

Good, Cheap, Fast: The dilemma of providing ideal service

Just a few days ago I was in a local mechanic’s shop and amidst the shelves stacked high with dusty papers and some foreign-looking objects that were likely common knowledge auto parts, there was a simple sign hung on the window that looked into the garage. It read, “We offer three kinds of service: Good – Cheap – Fast. You can pick any two.” After my initial amusement from envisioning an old crotchety man pleased with himself as he hung this sign in his shop, I realized that is the dilemma every business owner faces when trying to offer a customer ideal service. For a laundry list of reasons, my business is very different from this mechanic’s. But when it comes to customer service, this sign accurately summarizes us both.

If it’s fast and good, it won’t be cheap. “Rush” projects are common in almost every industry. From the mechanic to the Public Relations professional, sometimes some things just cannot wait. Because a rush project can save a client from a terrible inconvenience, loss of potential business or increase their revenue, I certainly accommodate them whenever possible. In fact, one of my main reasons for keeping ahead of my planned projects is to allow for the occasional rush project. Allow me to say what most other business owners think; we keep this open time for rush projects because they’re a great source of unexpected and well-paying work. People are willing to pay more to prevent a bad situation – and thus, the dilemma of rush service. A bad business owner takes advantage of this opportunity to gauge a client in a vulnerable situation (i.e. obscene rush shipping charges or overtime wages), while a good business owner charges just enough more to compensate them for the extra hours of work and the opportunity-cost of pushing their scheduled projects to the side.

If it’s good and cheap, it won’t be fast. For clients who want the highest quality of service at the best price possible, the key is to be flexible with your deadlines and to start well ahead of when you need something done. The best example I can give here is my experience with mass mailings and the postal system. If I have a large enough mailing, I can benefit from pre-sorted postage rates which are half that of a regular stamp. This is a huge cost savings when your list is in the thousands! However, the big caveat here is that you must give yourself ample lead time for the mailing to process and hit mailboxes—I’m talking about a month. The postal service offers this discount rate, but it can take up to 25 business days to be delivered, as opposed to the standard 2-3. If you want something done good and cheap, you must be more flexible on the time frame in which you wish to have it completed. A long lead time (and ample patience) can save you a lot of money in the long run if you can plan ahead for it.

If it’s fast and cheap, it won’t be good. This combination of service is the one that most good business owners would prefer to avoid entirely. When it’s all said and done, neither the customer nor the business will be happy with a final product that was done quickly and cheaply. I know this is one of the rare instances where I might need to step away from a project if I think it will poorly reflect upon me or my business. Certainly I offer every client my best services at the fairest rates; it’s only when I’m stretched beyond reason that it becomes a problem. The two other options above prove why fast and cheap service won’t be the best quality. A business either needs to charge more for a rush project that pushes all other projects to the side or needs more time and flexibility from a client to do the best work on a tight budget.

Can we ever have all three? If you’re talking in extremes, I’d say the answer is no. An award-winning web site design done in three days for under $500 is either a scam or poor business management. In the real world, one of these three factors (time, quality or cost) would need to give. In less extreme examples, I have personally benefited from rush projects, done completely to my standard and for a fair price. The key is relationships. Once you build a good relationship with a business owner or contractor, you can work with them to achieve a good balance of all three.

As for me and the mechanic, I paid well under what the dealership would have charged me, fulfilled my inspection until 2014 and had my car back in just a few hours. So regardless of what that sign hanging in his window said, I think I just might have gotten away with choosing a little bit of all three!