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The Consultant Gig – can you make it happen?

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Lately, I’ve been chatting with more than one “Mid-Life Re-brander” – those who have lived in Corporate America for a bit, gained a ton of knowledge and skills, and now in their 50’s and 60’s wants to leave and become a consultant.

The reality is, most won’t do it because it’s tough and scary leaving a 6-figure job and benefits to face the unknown. I know – I’ve been there, but I did it. The solution is, you need to test the waters – dip your toes into the world of Consulting. Find a few clients, try your skills, and see if you are good at it, and more importantly do you like it! The secret is doing this while you still have a 9-5 gig.

Disclosure: Some companies forbid side work while in their employ, so you need to check out your employment agreement and non-competes. Typically, if you aren’t taking money away from them, you are fine. Better safe than sorry, if you are at all iffy, contact an attorney and ask.

Here’s how to get started and get to 100K+ in revenue fairly quickly:

  1. Super Powers. What are you great at and love to do. What can you get lost in for hours? This is obviously a key component of success. You need to clearly define what you will be offering.
  2. Your early adopters. Once you figure out what your “offer” will be, you need to hone in on some early adopters who have a specific pain point that your offer solves. Make a list.
  3. Create a mini business plan. This doesn’t have to be a novel but you need something! What will your offer look like to your early adopters – what will the deliverables be, what will the cost be, what will the turn around be, and how will you do the work, so it won’t interfere with your job.
  4. Begin approaching your early adopters and sharing your idea with some key people in your network.
  5. Sign up 1 client. Test your new offer, tweak as needed. When you feel confident you delivered as promised and you enjoyed the process – go for Client #2. Rinse & Repeat
  6. Pick a Date. You’ve tested the waters and decided you can make this work. Set a date that you will exit your 9-5. Write it down.
  7. Pick a Dollar Amount. Determine how much you need to make in recurring income per month before your due date. Now work backwards to ensure your price point and working capacity matches. This is money you NEED versus what you WANT.
  8. Make sure you have a viable pipeline to add to the workload once you leave – you should have at least 5-7K in recurring income by the time you leave your job, and then be able to increase that immediately with new income streams.
  9. Bridges Secure. Don’t burn bridges with your current employer – in fact they may be an ideal client! (PS. I did this and secured $60K in revenue my first year in business at Red Barn). If you are great at your job, your boss may not want to let you go. Having you as a 1099 will cost them less and you can still be a viable team member – allowing for a slow transition out if that works for everyone!
  10. Go Time. Stick to your date unless there are real extenuating circumstances such as illness.

The 10-Steps may seem simple, and in fact the process is, but don’t be fooled, there is a lot of hard work involved. Early mornings, weekends, and nights working on and in your new business model. It’s far easier easing into the Consulting world than leaping in without a cushion.

The Consultant Gig – can you make it happen? Read More »

Client retention issues? I bet I know why.

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I often get calls from business owners telling me they need marketing because their sales have “dipped”.   I dig a bit deeper asking questions about why they think revenue and retention have dropped.  I get the following:

  • My competition is eating me a live
  • I need better employees
  • My customers don’t value me like they used to
  • I’m not competitive anymore
  • No problem – I just need marketing!

When I get these type of responses, it’s the red flag zone for me.  99% of the time there is a deeper issue and marketing is the last thing they should be focused on right now.

My next step is to head to their office – I want to be there first thing in the morning when employees are showing up.  I want to just watch, listen… and learn.  What I typically find is an unhappy situation, a morgue with Stepford Wife type employees who fake being happy there.  Where’s the boss?  In his/her office drinking coffee, with the door closed.  It’s Monday and there is work to do.  The Grind. The Misery.

In my line of work, the #1 reason most companies fail to thrive is due to their culture and the lack of a leader who understands the importance of TEAM.

When you hire the right employees into the right culture with a leader who embraces a culture of learning and mentoring– your customer experience will soar.

It all comes back to the Core Values of the company – the driving principals. The Ten Commandments – it’s how you act internally and how you project yourself externally.  When there is a disconnect with the Core Values of the owner and those of the employees – it becomes a hot mess and those dissatisfied employees become a cancer – which then trickles down to the customer experience.

If your retention and revenues are dipping – please take a hard, holistic look at your business and ask WHY.  WHY are customers not sticking?  It’s rarely because of price or your competition – it’s because of their experience with you and your brand. They left because they didn’t feel the love and someone else was loving them more than you were.

Employees matter.  Culture matters.  Most importantly, how your employees express your culture to your customers matters.

Until you fix this – don’t spend a dime on marketing. You are tossing dollars out the damn door.

Client retention issues? I bet I know why. Read More »

Side Hustle Nation – Take the Leap!

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In our program the Business Success Network, we love working with Side Hustlers – people who are working their dream gig on the side while holding down a full-time gig that they greatly dislike. (Trying to avoid words like Hate – they just don’t serve me)

If you are SERIOUS about making your Side Hustle the Full Time Hustle – then here are the steps we take our clients through.  I need to them to know the following:

  1. Be crystal clear on your WHY. What is your purpose – personally, and does it align with your business model.  If the side hustle is just a way to make a buck and you aren’t passionate about it – your business will never be truly successful. You will get burned and give up when the going gets tough – and it will, get tough that is.
  2. Ensure you have a viable business. Just because it’s a great idea, does not mean it’s a viable business model.  Perhaps your market is too small or too saturated, you can’t differentiate yourself enough from the competition or you have a time sensitive thing whose time is almost up.  You need to crunch the numbers and do some market research.
  3. That you need to be a risk taker. I don’t know one business owner who is risk adverse.
  4. That you need to have a success mindset. You must focus on the long haul and not get hung up on the bumps in the road.  You have to BELIEVE you will be successful.
  5. You have capital enough to survive without a paycheck for a while – because most of your $$ has to go back into the company – typically.
  6. You need to deeply understand your customer and their journey – how they will get to you, what you will do once they find you and how you will nurture them. What will their customer experience be like?
  7. Chief Cook & Bottle washer – If you don’t have the capital to pay for help, do you have the talent, will and drive to do it all?
  8. Are you open to coaching and learning? If you have a know it all attitude – you are setting yourself up for failure. Trust me – I’ve been there and it wasn’t pretty.
  9. Are you willing to fail – but more importantly, do you have the mindset that failure is simply an opportunity to learn and grow.
  10. That you need to spend just as much time working on your business in the beginning as in it.
  11. You need to be able to sell or have a process that sells your product for you – i.e. online platforms etc.
  12. Progress NOT Perfection. You need the minimum viable product to launch – it doesn’t need to be perfect, you can always adjust, fix and change as you go. Besides you need feedback from real life buyers!

 Side Hustlers, you can make the transition, and the time is really up to you. If you are focused on the end game, that transition will be far less painful than if you look at ALL you need to do and it will go a lot quicker.

Side Hustle Nation – Take the Leap! Read More »

The fear of trying

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You’ve probably heard a quote like “if you’re going to fail, then fail fast.” I used to be afraid of failing, let’s be real, no one wants to fail. But working at Red Barn has taught me that, hey, sometimes you fail, and that’s OK if you fix it and learn from it. It’s a tough transition, especially if you work in Corporate America where when something goes wrong, it turns into the blame game. It’s a nauseating feeling always trying to cover your ass in case that finger turned to you. It became more than a fear of failing and more of a fear of even trying something new. But now, I’ve learned to embrace learning and trying new things because the fear of failure isn’t so stifling.

Before I started at Red Barn I had NO marketing experience. Sure, I used Facebook and LinkedIn, but that was about it. I’d never written a blog, sent out an e-newsletter, or used any design software. But I had to learn these things, and being remote, Cindy couldn’t hold my hand and walk me through things. I relied heavily on 2 very good friends – YouTube and Google. Trust me, if these 2 don’t know how to do something, then it’s not meant to be done.

I learned how to make updates to a website, edit art files in Adobe Creative Suite, create e-newsletter templates, create and implement Drip email workflows, the list goes on and on. Have I messed stuff up – ABSOLUTELY! Go ahead – ask Cindy – she’ll tell you. Most of the time I was able to fix any issues before they went live or to a client. That’s why we proof each other’s work – those extra set of eyes are key.

Here’s a secret that I learned from my mistakes and it wasn’t to stop trying! First – take accountability for your actions. Pointing the finger to someone else doesn’t fix the issue. Own it, fix it, learn from it, and move on. Secondly – follow up! This can save you a ton of headaches. Here’s a great example – We have a client that we schedule blogs for that post on a specific day and time. I send the link ahead of time to the client to share on social media and via an email to their clients. Well, I went in to check to make sure the first blog posted as scheduled and to my surprise – for some technical reason, it didn’t post! Had I not followed up, the client would have posted a dead link on their social media and in their email. I was able to fix the issue before it created a problem. It was no one’s fault, but you can bet I would have felt horrible if the client felt any negative effects from the error.

Trying new things is what makes my job exciting and fun. If I was afraid every time I had to try out a new software or implement a new marketing idea, I wouldn’t get very much done. Trying and failing is just part of the learning process. Sometimes you try things and get a win right off the bat – I LOVE when that happens. But most times you must try things a few different times before you get it right. It’s a process as Cindy likes to say. I play around with something, test it, make it live, test it again, make more tweaks, test it again, and so on and so on until it’s perfect. Another Cindyism – progress not perfection. Trust me, you learn a lot about yourself when you self-teach, and I get really excited when I teach my self new things and can put them into action.

So, my PSA for the day – Don’t be afraid to try things. Pull the trigger so that if you do fail, you fail fast and have time to fix it and learn from the mistakes.

If you have any great failure turned success stories, I’d love to hear them!

The fear of trying Read More »

Mindfulness and success – the connection

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Winning vs. Losing 

Succeeding vs. Failing 

Happy vs. Sad 

It all comes down to what you really want.  #truth. 

There are times in life that we all struggle, be it personally or professionally. Sometimes, they happen at the same time and life feels like it’s consuming you and not in a good way.   

Some people stay in a state of \”Losing, Failing and/or Sadness” while others seem to live in a world of “Winning, Succeeding and Happiness.”   

First let’s address that perception.  No one wins all the time, succeeds all the time, nor is happy all the time. The difference is they have the ability to bounce back and focus on the bigger picture.  Live in the moment, yes, but staying there is dangerous when you are in a funk.  Unfortunately, many deal with depression and other mental illnesses that don’t allow them to get unstuck and life is a constant battle of how to move forward. Thankfully, for the majority of us, we can easily move from one mindset to another but we have to make the choice to do so. 

The key is focusing on what you want, versus what you don’t want.  Seeing losing and failing as an opportunity to learn from mistakes, adjust, iterate, and move on.  Seeing sadness as a temporary grieving process for something that well…just sucks, but finding the silver lining and realizing tomorrow is another day. 

If we always focus on the things we don’t have – we will never get the things we want.  

When it comes to business, this also holds true.  Even the great business leaders of our day will tell you it’s not all lollipops and unicorn dust – some days are tough. Tough decisions have to be made, cash flow issues, employee drama… the list goes on…and on. 

As an entrepreneur, you need to think long term and recognize the bumps in the road are just that – bumps. 

Be Mindful.  Focus on what you want vs. what you don’t. 

If your mind is consumed with cash flow issues and you just sit in front of your computer looking at the $.03 in your checking account for hours, days, months vs. taking action to amend the situation, you will in fact still have $.03 in your checking account a month from now.   

Better to: 

Be real.  Be honest about the situation.  How did you get there? What caused it and more importantly how can you reverse it and not repeat. 

Take ownership.  As a business owner the buck stops with you.  If things aren’t going correctly, take charge.  Bring in some experts. Ask for help.  Don’t stay frozen in time. 

Eye on the Big Picture.  Know that tomorrow really is another day.  That it’s not a sign of weakness nor failure to ask for help and that no one is successful without setbacks.  No one. EVER. 

Be Mindful.  Be aware of how you feel.  Be aware of your actions.  Be aware of your behaviors…your repeated behaviors. 

If your messy desk causes you to spend 2 hours a day searching for things and you are whining about not enough time in the day.  Well…clean your desk.  

Mindfulness.  Action.  Results. 

Success.  Winning.  Happiness.  #lifegoals with some bumps in the road. Bring them on! 

CD 

Mindfulness and success – the connection Read More »

10 reasons businesses fail

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I’ve owned a few businesses in my day. Some have failed, some have been (and are) successful.

The failing part sucks – no doubt about it. You never enter a business thinking it’s going to not be there in a year or two – kind of like a marriage.  But it happens.

Here’s what I’ve learned from my own failed ventures and from the myriad of business owners I’ve worked with over the years.

  1. Business Partners. When they work it’s beautiful. When they don’t, it can be an ugly divorce in the making.  Just like a marriage, you need a partner who has the same core values, the same vision, yet you need to complement each other.  There must be trust, transparency, and all partners need to be on the same page when it comes to running the business.  Have a partnership agreement that details who is doing what and how everyone is getting compensated.  Trust me on this one.  Many businesses fail because the partnerships fail.
  2. Capital. You need money to survive.  Cash is still King.  If you are thinking of going out on your own, you need to have cash in the bank for at least a year and/or some VC money to infuse into the business.  Without capital, it’s hard to grow.
  3. 3 P’s. Policies, Process & Procedures.  You can’t wing it.  Have a process. Adjust as needed.
  4. Cabinet. Lawyer, Accountant, Tax Advisor & Insurance Broker.  Don’t ever skimp on these – Ever.  Don’t think DIY is a smart idea – it never is.
  5. Clear WHY. You have to be crystal clear on your vision – your WHY. What are you bringing to the market? Why should someone buy from you?  What is your unique value prop?
  6. It has to be a viable business. Not all great ideas are viable businesses. Do the market research and test.
  7. The need for perfection. Go to market. It will never be perfect.  Do 1-6 – that’s just smart business, but go to market even if things aren’t perfect.  Your website doesn’t have to be the grand vision you have – it can be 1 page.  You don’t need a staff of 100 – start with 1, etc.
  8. Hire the RIGHT people. They need to fit into your culture and see your vision. Resumes and skills are second to their core values.
  9. You need to change with the market.  Innovate or die.
  10. Ethical. Now you’ll say there are a ton of unethical business owners who are making millions.  True, but they won’t survive the long haul.  Besides, do you really want to be that person?  Do the right thing.  Karma is real.

My first business failed miserably and cost me dearly.  The reason was #1, #4, and #10 (on my partners’ end).  It was a mess.   If you are thinking about heading out on your own. Call me first – I can save you a ton of headaches!

Cheers to us Entrepreneurs!

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Q4 is here – and this what your competitors are doing!

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Like a ninja in the dead of night, Q4 has crept up on us, again – regardless of the fact that it comes this same time every year! Yes, it’s Q4 and I’m in shock. Wasn’t it just New Years? How have 9 months gone by in the blink of an eye? As the shock slowly wears off, here are a few things that you should be doing for your business: (btw – your competitors are probably already doing them!)

Talk to your team – No, I don’t mean saying Hi on your way to the coffee maker, but check in with them, conduct Annual Performance Reviews, see if they have any feedback on how things are going and what can be done better.

Improve brand recognition and reputation – If your website is from 1999 and you have no presence on social media – it’s time for a rebrand. Make sure your mobile friendly on the social sites that your clients visit. If you have negative reviews, don’t ignore them, address them, and find out how you can fix the problems. If your competitors are ranking higher on Google than you, then you’ve got some work to do!

Set sales goals – Even if you won’t reach your sales goals for 2017 – make sure you set goals for 2018. If 2017 was too much of a stretch, make sure your 2018 goals are a little more reserved. If you blew 2017 out of the water, then it’s time to get realistic and set more challenge goals. You aren’t doing yourself any favors by setting goals that aren’t somewhat of a stretch.

Clean up your contact list – That customer who won’t return your call – probably is not going to buy from you. Clean up your list and weed out any prospects who aren’t interested. It’s just a waste of your time to chase them, and probably frustrating on their end to keep dodging your calls or emails.

Plan for Q1 – It’s all about preparation! If you want to start Q1 off with a bang, you have to be ready. You should always be planning at least a quarter ahead if not more. What’s in the sales pipeline? What’s your marketing & sales strategy? Cash flow analysis and updated business planning – all need to happen now for next year.

Even with the best laid plans and intentions, Q4 can be a very hectic time. As you close out the year, and prepare for a new one, don’t forget to appreciate your staff and all their hard work. After all, you couldn’t have done it without them!

Q4 is here – and this what your competitors are doing! Read More »

The kind of workplace culture employees want

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One aspect of my job I particularly love is how much I get to interact with our customers. Obviously we talk about their marketing, but the conversations roam in many directions, which for me is part of the charm of working for Red Barn Consulting.

Our clients range from more corporate institutions like banks, insurance companies, and healthcare facilities, but also entrepreneurs and small businesses.

What strikes me is that no matter the business, and whether it’s based in Connecticut, the other side of the country, the need to “get it right” when it comes to workplace culture is crucial to retaining key employees, the ones you really can’t afford to lose.

As a whole, the job market is really tight. Employers are struggling to fill positions and hang on to good employees. Salary, benefits, and growth opportunity are obviously a huge part of the draw, but “culture,” often intangible, plays just as key a role.

When it comes to that je n\’ais se quoi of workplace culture, what are your potential employees looking for?

A seat at the table — Even junior level staffers want to know their contributions are valued. This doesn’t mean the CEO has to carefully consider every idea the greenest guy in the building has, but it does mean providing opportunities for employees at all levels to have their voices heard. Millennials especially do not want to just show up, keep their noses down, and go home. Being able to contribute is a strong motivator for quality employees.

A good mission — Whether your organization sells widgets or helps the homeless, it should have a strong mission that serves as a rallying point for your troops. More than just words, the mission needs to be reflected in your company’s ethos. Feeling good about what the company does and how it does it means quality employees will give 110%, with pleasure.

A comfortable environment — Starched shirts and rigorous enforcement of policy “just because” it is the policy are out. Good employees are looking for a workplace that feels positive and comfortable. When you’re spending 8+ hours a day there, it just makes sense!

A flex policy — Good employees are happy to give it their all, and not just 9 to 5. They are willing and eager to stay late when needed, to handle something off hours, to contribute when helpful to projects far outside their functional area. At the same time, good organizations provide flexibility in return. Need to leave early to catch a daughter’s softball game? Need to work remotely while the plumber fixes a leak? No problem.

A team worth supporting — “I want my employees to work collaboratively, to help each other.” The good news is, your employees want this as well! The key though, is building a team worthy of helping. It’s vital to pay attention to culture and overall “fit” when hiring. One bad apple can indeed spoil the whole bunch. You are building an army of sorts, and you need every member to feel invested in the success of everyone else.

What are some important elements in your workplace culture? I’d love to continue the dialogue.

The kind of workplace culture employees want Read More »

Why You Should Care About the Equifax Breach

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By now, you’ve most likely heard the news: Equifax — one of the three major credit bureaus — announced on Sept. 7 that 143 million consumers’ information was leaked in a security breach. Information leaked includes social security numbers, dates of birth, names, credit card numbers, addresses and more. Scary, right?!

We all assume because it’s a credit bureau – you know, those people responsible for setting your FICO score – that they have hacker-free systems and stealing information is harder than breaking into Fort Knox. Well, weren’t we all proven wrong! And if you’re one of the 143 million – like me – you’re just praying that your hard-earned FICO score won’t plummet due to fraudulent accounts being opened.
Identity theft and security breaches happen all the time so why should you care so much about this one – well, because it affects EVERYONE! You’re probably saying, but wait, you said only 143 million people – yes, ok, that’s true, but if you’re an adult with a credit card, student loan, mortgage, personal loan, car loan, or any other type of credit account, you are a victim of the breach – even if you’ve never signed up for any Equifax product or credit report. If you have credit history – you are affected!

But how can that be? That’s because Equifax is one of the three major credit bureaus, meaning any bank or financial institution that manages your credit accounts reports your social security number, name, address and credit account information to the credit bureau to build your credit report. I told you it was Scary! And Equifax has said that the investigation is not 100% complete, so expect that 143 million number to climb.
Equifax discovered the breach on July 29, but didn’t announce it to the public until September 7 – over a month after they knew about it. And the leak occurred mid-May, so your information was available for use for over 3 months before you were notified. Yikes! If you haven’t checked your credit report lately, finish reading this article and do it ASAP!

Equifax is offering free identity theft protection from TrustedID for one year – but you should be aware that TrustedID is an Equifax-owned service. Currently, the terms and conditions state that if you sign up for the free protection, you’ll be waiving your right to join any future class-action lawsuits unless you send notification in writing within 30 days of signing the agreement.

While this is the third largest security breach, the information leaked in this breach is much more valuable than the two Yahoo breaches that hold the No. 1 and 2 spots. The revealed information is all someone would need to open a credit card in your name, which is something you should be concerned about.
While Equifax is providing one year of identity theft its likely not enough. The information leaked from this breach will never get outdated and never changes, allowing someone to steal your identity now or 10 years down the line — something one year of identity theft protection can’t fix. Victims will likely have to worry about identity theft for the rest of their lives.

There are some things you can do now and continue to do in the years to come:

Monitor your credit. Check your credit often. Consider using a credit report monitoring service. These services actively monitor your credit reports and alert you if something is added or changed, or if a new account appears on your reports.

Consider a credit freeze. This is a proactive approach to protecting your credit. When you place a credit freeze on your credit reports, you’re essentially locking them, meaning no new accounts can be opened in your name (by you or anyone else) and your credit reports cannot be viewed by any potential creditor. Keep in mind, you’ll need to unfreeze your credit when you need to get a new credit card, apply for a loan, or get a mortgage, but you can refreeze it afterwards.

Report identity theft immediately. Identity theft is a crime, which means it should be reported as soon as its spotted, like any other crime. Report it credit bureaus, the police, and the company that extended any credit.

It’s possible that this breach may affect the future of credit. Due to the number of people affected, and how dramatically identity theft increases, creditors may look to an alternative method than using social security numbers as a main source of identification.

Why You Should Care About the Equifax Breach Read More »

The Employment Offer Letter – When to Send it, and Why You Need it!

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It’s been a long and grueling search to find the perfect candidate who’s not only qualified for the job opening, but also fits your company culture, embodies your Core Values, is within your salary range, and is ready to hit the ground running. So, what’s next? Making them an offer of course!

Most people will call a candidate on the phone and share the good news with them. It’s the perfect time to lay out what the initial offer will be and allow them to ask any immediate questions. Since you already know the candidate’s salary requirements, and most companies address the benefits of the job beforehand – there really should be any sticker shock on either end.

A simple, and easy way to follow up the conversation is to then let the candidate know that you will be sending a formal offer letter via email. This allows the candidate time to process all the information, review it with a spouse or trusted friend, and not be pressured to make an immediate decision.
While a handshake may have been the preferred method of acceptance in the past, you should require your new hire, upon final negotiations, to sign and return the offer letter back to you. Here’s a few items that we suggest you include in any offer letter:

  • Congratulatory/celebratory comments. Express your excitement about them joining the team.
  • The company/organization. Include the specific company name or department that the new hire will be working for along with their official title.
  • The job requirements. Briefly touch on the key requirements again for the position.
  • The supervisor. Who will the person report to, and what is their title.
  • Conditions of employment. If your company performs any drug or background checks be sure to indicate that employment is contingent upon the results of these checks.
  • The pay and benefits available. Is the position full time or part time, temporary or regular, and exempt or non-exempt? Make sure to clearly list these along with the hourly or weekly pay. Also include any guaranteed bonuses, overtime eligibility, and what benefits the employee may qualify for.
  • Hours and where to report. Clearly lay out the expected working hours and where the employee should report to for their first day of work.
  • At Will Employment. Probably the most important thing to include in your letter is a statement of “At Will”. You do not want the employee to believe that your offer letter is a contract for employment.
  • Conclusion: Let the candidate know what to do next. List the start date of employment and when you require the candidate to accept the offer by. Also provide them with instructions on where to return the signed letter and any next steps.

A job offer letter allows you to itemize the facts about the offer, outline the job’s responsibilities and highlight relevant details about the company. Candidates may be uneasy without an offer letter and might wonder about the organization’s commitment to them in the long run if they are not even willing to commit at the beginning.

Creating an offer letter doesn’t need to be a daunting task. Simply create a template so that each time you want to make an offer of employment you can easily fill in the specific/unique pieces for the candidate. By using an offer letter, you can convey to your new employee that they are joining a professional organization.

The Employment Offer Letter – When to Send it, and Why You Need it! Read More »