I was reading this email letter on business tips for momprenuers. I thought it was a great read and had such great advice so, I wanted to share it. I
wanted to share this article by a very successful woman by the name of Maryellen Tribby. The advice is good for all entrepreneurs.
By MaryEllen Tribby
“I think you have a serious problem with your business model with Working Moms Only,” Rich said.
All I could manage to blurt out was, “Excuse me?”
But in my mind I was thinking, “Look buddy, numbers don’t lie.”
In the first 30 days of opening my doors for business for WMO I had a cool $145,000 sitting in my business account. Not bad for a $10,000 investment. After all that is an ROI of 1,450% in just 30 days!
When the median yearly household income in the United States is about $43,000, I would say that’s pretty good.
Plus, after just 6 months in business I had made more than my entire salary the previous year as a big-time CEO for one of the world’s most successful information publishing companies.
So what the heck did Mr. Smarty Pants Rich mean when he said I had a problem – a serious problem at that! – with my business model?
Once the steam stopped pouring from my ears, I asked him to explain.
And he did.
“You come off making it look too easy,” he said.
“First, let’s look at just the business aspect of your life. You were a big-time publishing executive for years in New York City. It doesn’t get much tougher than that.
You move to Florida, not knowing anyone… And wham! You not only wind up at Weiss Research, you become the first and only female president that company has ever seen.
You take that company from $11 million to $67 million in just 12 months. Every financial publishing company in the industry is trying to recruit you and you have Clayton Makepeace, one of the top copywriters in the world, so totally enamored with you that no one he has worked with since can live up to your achievements.
“Then you go and take over Early to Rise, an Agora company, and it happens again. You take that company from $8 million to $26 million in just 15 months. Plus you launch the best marketing campaign in the company’s history. Given the talent that company encompasses, that is pretty freakin’ impressive.
“Practically everyone in our industry is begging you to come run their company so you can make the same magic happen. But instead, you leave all the comfort of your cushy CEO job and start your own company in one of the worst economic crises our country has ever known…
And just one year later you merge with Ryan Deiss and have your own 30 million dollar publishing empire with 45 full-time employees.”
“Now let’s talk about your lifestyle,” Rich continued.
“You do all of this while raising three kids. Hell, I see you every Saturday at the tennis courts and your daughter is always so happy taking her lesson while you take yours. Your other two kids do great in school and sports. You volunteer at their schools.
“Plus, when Ann and I run into you and Patrick out on a Saturday night you two look like newlyweds and you have been married for 15 years!
“I don’t have a clue how you have the time to write best-selling books and speak at industry events around the world. Let alone run your business.
“So do you see my point MaryEllen?” Rich asked me. “Most working moms out there are probably thinking they can’t compete with you.”
Rich’s words hit me like a ton of bricks.
You see, I don’t want any working mom to feel like she has to compete with me or anyone else. I am here to teach, help, and empower working moms. Not make them feel like they can’t reach their goals.
So here is a secret I have not told many. Listen up… because it’s kind of hard for me to put it out there.
It wasn’t always this way for me.
I wasn’t born with a magical playbook. I developed my success playbook over years and years of trial and error. I developed systems that work… strategies anyone can put to use.
And it all starts with five essential skills you must master.
Recently, at a conference I spoke at in Las Vegas, I had the pleasure of meeting Michael Gerber. So much of what he and I talked about made tremendous sense. And I saw these five factors as some of the essential keys to my success.
I have never sat down and wrote them out before, so take note.
The 5 Essential Skills Every Mompreneur Must Master for Success
1) Concentration – focusing your attention on where you are and what you are working on at all times. This is the opposite of multi-tasking. I hear working moms brag about how good they are at multi-tasking. It makes me sad. That’s because, when you are multi-tasking, nothing gets your full attention. To create extraordinary results, your full attention is needed. Concentration is a skill and it takes practice. Start that practice today.
2) Discrimination – choosing when, where, and how you focus your attention. Most entrepreneurs and business people fail not because they are lazy or because they don’t work. They fail because they work on the wrong things. You need to understand what is important and what’s not. Which tasks, projects, meetings, emails, and phone calls will yield revenue and which will not? Unfortunately, most people work on things they are comfortable and confidant doing. That’s not often the right thing or the most important thing to be doing.
3) Organization – turning chaos into order. As a working mom you do it all the time in your home. So why don’t you incorporate the same skill and time into your business? You could come to my house and see the kids running around having a grand old time… But when the clock strikes 8:00 it is bedtime. I know it, my husband knows it, and most importantly my kids know it. But guests are always shocked. How did we do this? It is a practice that we have reinforced over the years. The same organization and repetition apply to your business.
4) Innovation – thinking about improvement rather than always thinking about change. If you are doing something now, there is always a better way and there is always a best way. And because we live in an ever-changing world, one day your “best” way will need and should be on its way to “better.”
5) Communication – forming strong relationships with your colleagues, employees, and clients. All relationships, whether business or personal, hinge on our encounters with another person stacked end to end. In survey after survey, those who lack strong interpersonal skills are tagged as less competent, less attractive, and less qualified as leaders. The ability to communicate successfully can turn any product into a franchise.
Once you understand the importance of these skills and practice them on a regular basis, you will be ready to apply hard-core business and marketing skills so you can achieve the life you deserve.