Category Archives: Success

Maybe Oprah & I disagree about planning

PlanningI know a woman who left a lucrative (though unrewarding) job and moved to another city to pursue her dream of opening her own business. 

After a particularly bad day at the office, and one more frustrating episode with a miserable boss, she ducked out early, drove home, dropped down on the sofa and turned on Oprah. 

During that show, Oprah said the magic words: “Do what you love and the money will follow.”

The woman quit her job the next day. On hope alone, within a month, she sold her home, moved and opened her business.

Trouble is, the money didn’t follow.

I know a lot of women entrepreneurs who do what they love, and the money hasn’t followed.

At the risk of getting on Oprah’s bad side, I think there’s a lot more to running a successful business than, “Do what you love and the money will follow.”

So what’s the answer?  It’s not magic and it’s not complicated.  You absolutely, positively, unequivocally must have a plan.

 Time after time, research has proved that entrepreneurs who engage in strategic planning are more profitable and more successful than those who do not.

One simple thing stops most women entrepreneurs from creating a strategic plan:  they don’t know how. 

That’s exactly why I created my new e-course.

Strategic Planning Made Simple

It’s not magic.  It’s common sense, step by step instructions on:

  • Who should participate
  • When to plan and how often
  • What questions to ask and answer
  • How to define and measure goals
  • What to track and measure
  • How to use your plan to get better results

And there’s more!  You’ll get three easy-to-use planning templates.  Half the work is done for you!  (Okay, I’m exaggerating…not half — but the templates DO save you hours of time and energy.)

Strategic planning has so many benefits that entire books are written on the subject.  Here are the top three:  

  1. you’ll take control of your future
  2. you’ll identify and prioritize opportunities
  3. you’ll make better decisions about how to spend your time and money

Please don’t be like the women who, on hope alone, risked her financial security with no planning and believed the money would magically follow.

Start today to turn your dreams into reality with a PLAN.  (The secret?  Break your dream into bite-size pieces.)

Check it out today, just click, “Tell me more…”

  Tell me more

Stop struggling and start planning!

Take care,
Darcie

P.S. Can you tell I’m excited about helping you turn your dreams into reality?  In fact, I’m so determined that if you sign up TODAY I’ll give you a FREE 45-minute coaching session! 

Going Up in Flames

“I’m done. Toast. Stick a fork in me. It’s just not fun anymore.”

It broke my heart to hear one of my clients say that.  She’s one of the smartest women I know. She has more energy than the Energizer Bunny. She’s resilient, she’s creative, she’s strong.

FlamesAnd she’s burned out.  Going up in flames.

It’s sad to see a woman I admire lose her creative spirit, lose her drive and lose her joy for her profession.  It’s like watching a house burn.

How does it happen?

Our greatest strengths, when overused, become our greatest weaknesses.  When the strategic, action-oriented, goal driven part of who we are stays on overdrive for too long, it’s inevitable that we’ll hit the wall.

Picture an airplane on takeoff. There’s a tremendous strain on the engines as the plane climbs upward to gain altitude.

When the plane reaches cruising altitude the strain on the engines is reduced.  After cruising for a bit, If the pilot needs to climb to a higher altitude, that can be done safely.

But if the plane stays in acceleration mode indefinitely, the engines would give out.  Maybe even burst into flames.

That’s true for people too. 

Have your engines been in acceleration mode too long?

Just keeping up these days (let alone climbing!) is a challenge.  Economic uncertainty and competition have strained the engines of the business climate.  Information overload and more work than ever add to an epidemic of overwhelm.

Studies show that multi-tasking overloads your stress hormones, creating wear and tear on both your brain and your body (not to mention your spirit!).

Maybe it’s time to remember what’s really important.

“What would it be like to put strategy in service of the soul?” asks David Whyte, author of one of my favorite books, The Heart Aroused: Poetry and the Preservation of the Soul in Corporate America. 

Put strategy in service of the soul?  What does that mean? 

Work is about doing.  Soul is about being.  A healthy, balanced life respects both.  Neglecting the soul risks both.

I hope you won’t reach the point of saying, “I’m toast.”  If you want to avoid going up in flames, douse yourself in these five bits prevention: 

  • Pay attention to your heart’s desire in life.  That’s what David Whyte is really saying.  Strategy and goals get us nowhere if not driven by a higher purpose.  Success feels empty if it’s only about winning.  Be clear about your real priorities.
  • Make time to discuss matters of the heart.  Life is the sum total of the conversations that take place within it.  Listening to a friend and sharing your own feelings keeps you emotionally connected with what really matters.  Intimate friendships and relationships are cultivated with time.  The consequences of neglecting matters of the heart show up years down the road, sadly in isolation and loneliness.
  • Don’t neglect your creative side.  Every time I hear the word “creativity” I picture someone painting or sculpting and think, “I’m not creative.”  But creativity is found in so many more activities than art.  Some love to cook.  To garden.  Ride horses.  Shop for antiques.  Hike.  Decorate the bedroom.  Dance.  Learn to sail.  Write.  Take yoga.  Have interesting and meaningful conversations.  Knit.  Listen to music (or play it!).  Read.  Play golf.  Just sit and daydream.  Or go ahead and learn to paint!  Do anything that takes you out of the strategic goal-oriented part of the brain.  Do something for pure pleasure that feeds and nourishes your creative spirit.
  • Harness the ego.  It’s time for some tough questions.  How much of your striving, your goal-oriented action is about achieving some version of “success” that feeds your ego more than your spirit?
  • Don’t be seduced by material gains.  Women especially harbor a secret fear of becoming “the bag lady,” worrying that today’s success will disappear tomorrow.  Security is important, but at some point we all have to answer the question, “What is enough?”

Remember that old elementary school saying, “It takes one to know one”?  As a goal-oriented, action-driven woman, I too reach a point where I feel the balance has tipped too far from soul to strategy.  I too risk going up in flames.

When I do, I listen to this song, Seasons of Love.  The powerful refrain, “Measure your life in love” says it all.  So take 2:58 minutes to put strategy in service of YOUR soul – feed your spirit and LISTEN RIGHT HERE.

Take care, Darcie

The Inside Story of One Entrepreneur’s Unstoppable Persistence

RussAnn (2) Meet RussAnn Anderson.

It took nearly three years for RussAnn’s brilliant idea to become a reality.  I call it brilliant because it wasn’t rocket science.  Yet what seemed so obvious, practical and concrete turned into an obstacle course, calling on RussAnn’s skills of problem solving, persistence and patience.

When I asked RussAnn what other female entrepreneurs could learn from her experience she said:

  • Don’t let anybody, not anybody, tell you that you can’t do it or the doubt will eat you alive
  • Believe in yourself and your vision because that’s what will keep you going
  • Don’t be afraid to ask for help; get over your pride
  • Don’t stop when you hit an obstacle and don’t dwell in the direction you were going.  It’s a winding curve.

Once you read her story, you’ll know why those are the very lessons every female entrepreneur needs to learn.

April 2010

RussAnn gets an idea.  She and her husband have been boaters for years, spending most weekends with their children wakeboarding.  Wakeboarding boats are too tall to fit into a garage or typical storage area.  And most neighborhoods prohibit you (thankfully!) from parking it on the front lawn!

They stored their boat in an airplane hangar – on the other side of town for a mere $400 a month.

One day, RussAnn’s husband Michael came home and said, “Good news!  After nine months on their waiting list, a space finally opened up at the boat storage place.”

That week, RussAnn & Michael met the owner of the storage unit in the parking lot, and handed over a check for $95, their new monthly storage cost.

RussAnn also owns a Kumon franchise and thought, “You know, my current customers spend about $95 a month on average, and what I do for that same dollar amount is a LOT more work than meeting someone in a parking lot and taking a check!”RussAnn's boat

Her wheels began turning.  Build a boat and RV storage complex!  Clearly there was a market, since they had been on a waiting list for nine months.  This business required the work up front to build it, but very little work to run it.  She saw the business as a way to fund an early retirement, with very little effort.

She began her research.  She got online and found a company that hosted trade shows for the storage industry.  She was the only female in attendance!  Impressed with one of the speakers, she hired him to do a comprehensive feasibility study.

The result?  “This is a gold mine,” he told RussAnn.  “There is virtually no competition for boat and recreational vehicle storage here.”  The few people who did offer a limited number of spaces did no marketing because they always had a waiting list.

As a boater herself, RussAnn knew the perfect location for the storage business had to be near the two major highways that boaters travel to get to the many lakes and near a gas station with an RV dump.   Between internet research and driving the area, she found the perfect place – almost.  It was too much property.  Undaunted, she approached the bank that owned the property and convinced them to split the property into two parcels.

Now she had to decide whether to lock herself into purchasing the property, knowing she would need an estimated $1.7 million more to build the units.

August 2010

RussAnn told me what was unfolding while we were on her EWF Forum retreat outside of Boulder, CO.  She’d have to get a huge loan and raise the down payment in cash.  Between the land and the construction, she thought she’d need about $260,000 in cash.  It would be a huge leap of faith.  I said, “RussAnn, your whole Forum is here together.  Why not use our time before we go to dinner to talk this over with your group and get their input?”

Her Forum agreed it was a great business plan and encouraged her to pursue the deal.  “If I had not talked this through with my Forum, I wouldn’t have done this; they gave me courage,” RussAnn told me later.  “It’s a big leap from idea to execution – that’s like the Grand Canyon.   It was getting pretty scary, the thought of signing a huge loan and raising the cash for the down payment.”  But RussAnn remembers her Forum members telling her, “You can do this and we will be here for you every step of the way.”

September 2010

RussAnn put the land under contract only to discover there were issues with the easements on the property.  That would take time to resolve with the city but it gave her time to look for the financing.  A former banker herself, she put together five 3-inch binders, filled with every piece of information the bankers would need:  a business plan, financial pro-formas, the feasibility study, the land contract, and tax returns.

The months ticked by, with one appointment after another, each bank dragging its feet.  They didn’t understand boat and RV storage.  They were gun shy after the traditional storage industry problems back in the late ’80’s.  They considered the storage building “temporary” because it would be steel, and didn’t want to finance it.  No. No. No.

Two banks said they would take a closer look, but only after RussAnn raised the 20% down.  By now, all the raw materials costs had increased and once all the construction bids came in, costs had grown from $1.7 million to $2.4 million.  She’d need to bring a total of $480,000 in cash to closing.  “Everyone told me I needed the cash, but no one told me how to raise it,” RussAnn said.

More conversations with her Forum led her to look to family as investors first.  “I didn’t like that idea,” RussAnn said, “But I just had to get over my own pride.”  Fortunate to be from a family of entrepreneurs, her family looked at her business plan and happily agreed to invest.  Those commitments totaled $200,000, less than half of what she needed.

She met with a couple of private equity people, but didn’t get any takers.  Someone told her that with family as investors, a filing with the Securities and Exchange Commission would be required.  Several meeting with attorneys and several months later, that turned out to be avoidable, simply by properly structuring the legal agreements with the investors.

As the months passed, she worried that another entrepreneur – someone with lots of cash – would buy the land and build the structure before she had time to raise the money she needed.

July 2011

A family member referred RussAnn to another bank.  She met with the CEO who told her about a new program that allows you to use your own retirement as part of your equity, but there could be tax consequences.  He wasn’t clear on the details and referred her to yet another company.

Months went by as RussAnn researched the legal and tax implications of that possibility.  In the meantime, the bank that owned the property resolved the easement issues and was now pressing her to close the deal.  Though she was still trying to raise the entire down payment and her construction loan had not been approved, she and Michael decided to purchase the property.

March through December 2012

RussAnn finally had her down payment raised!  Now it was up to the bank to get the loan approved, both through their bank and through the SBA.  But the bank kept stalling.  After months of being put off and misled by her loan officer, RussAnn had enough.  She went directly to the bank president, armed with a folder of email communication between the loan officer and her.

“I had to get very factual, and all business, but it felt ugly,” RussAnn shared.  “It turned out the loan officer knew nothing about how to deal with the SBA.  My intent was not to get this guy fired, but the next day he lost his job.”  The bank president assigned her a different loan officer.

But now, the bank said her construction estimates were more than 90 days old, so she had to get new bids for everything.  And (surprise!) the lender told her there was an SBA fee of $50,000 that she had to pay in full up front, and she needed more cash for her down payment because she needed to calculate in her first year operating expenses.  Once again, RussAnn went to her family to ask them for more money.

January 2013

Almost three years later, RussAnn finally closed on her loan!  Her simple idea was about to become a reality.

“We encountTGIF FINAL_tagline (2)ered so many unexpected obstacles.  Every step of the way I dealt with men who did not take me seriously.  I wasn’t used to that.  I just kept looking at the facts, asking myself, what are all the options?  It took me driving this deal forward to get it done.”

May 2013

As of this writing, construction has finally begun, which brought new obstacles to face.  Given RussAnn’s unstoppable persistence, I have no doubt she’ll resolve them and this entrepreneurial venture will be a great success!

Focused. Fearless. Female.

You don’t have to be a horse lover to love this news…

For the first time in history, the jockey with the best record in America today just happens to be a woman.  In a fiercely competitive sport dominated by men, Rosie Naprovnik has a shot at one of the most coveted accomplishments in sports: winning the Kentucky Derby.

The takeaway?  The three qualities that took Rosie to the top of her profession could take you to your personal best too.

She’s clear about her passion — racing horses. She feels most authentic on the back of a horse.

Oh, and she’s fearless.  Despite numerous falls and broken bones, she is focused on being her best.

Passion, authenticity and fearlessness…three essential ingredients to a life of happiness and success. 

And you can tap into all three in our signature webinar series, The Alpha Mare: Embrace the Grace of Power.

From the comfort of the chair you choose (which may not be a saddle), in four online sessions, you can discover the answers to these questions:

  • What is your passion? 
  • When are you your most authentic self? 
  • What fears are limiting you?
  • What stories are holding you back?

Check it out today — sessions begin Friday, May 3rd.

I love helping women put together what’s in their heads with what’s their hearts.  Hope you’ll join us!

Take care, d

P.S.  A bonus lesson from Rosie — It’s okay to be competitive!  Just compete fairly.

You Were Born With Wings…

The subject line of this short post is the beginning of a quote by the poet Rumi.  The full quote is:

“You were born with wings, why prefer to crawl through life?”

But just yesterday I asked a woman who owns her business what resources or education she would find most helpful to her as she thinks about growing her business.  She said, “I want to grow, I want to make more money, but I just can’t right now.  That would take time away from my son, and I just won’t do that.”

Her belief?  That it’s an either or choice.  That one comes at the expense of the other.

The combination of Rumi’s inspirational quote and my friend’s sad self-limiting belief reminded me of Sheryl Sandberg’s TED talk – it’s worth listening to, not just once but as many times as it takes to truly absorb the support and encouragement she offers.

Sandberg is talking about female executives – the messages they tell themselves, how they underestimate their own abilities, how they slide into self-doubt, and consequently lean back instead of leaning in.

I’ve seen the same behavior in female entrepreneurs.  Thinking small instead of thinking big.  Believing that growing your business equates to sacrificing your personal life.  Worrying that making our desires and expectations clear will make us less likeable.

These are just a few of the ways women pull back.  How we crawl through life instead of using our wings.

The facts tell us clearly that women run smaller businesses than men, and self-employed women earn only 55% of what self-employed men earn.  Ouch!

Read my report about Why Women Run Smaller Businesses Than Men. 

Then let me know what you think and how you experience your world of being a female business owner.  I’d love to hear your thoughts.  

And remember, you were born with wings!

A Table, A Bathroom and A Risk

I undertook quite a project this fall when I purchased a grand old home that had been converted to office space years ago. Listed on the National Register of Historic Places, it was charmed by the beautiful woodwork and hardwood floors.

downstairs bath cropped.jpgI knew it could be the perfect place for my office, but it definitely needed a facelift. The colors were dull, the kitchens and bathrooms were dated (I don’t even want to talk about the urinal in the upstairs bathroom), and the floors were worn. But I knew it could be transformed. (Some of us fall in love with “possibilities.”)

I had a vision of how the finished building would look and jumped in.

I chose contractors and paint colors, then made the rounds of antique stores, looking for interesting tables, mirrors, and other fixtures to complete the vision.

My first purchase was an old table to replace the seriously ugly vanity in the narrow downstairs bathroom. Just the right size and shape for the small space, with graceful legs and stretchers, I could picture it painted glossy black, topped with a vessel sink and an ornate mirror.

But here’s the best part. It was only $50! It would be a stretch to call the place I found it an antique store. More like a “collectables” store. Okay, more like a flea market. Nevertheless, here was the perfect table at an unbeatable price. What a find!

I sanded, painted, distressed, steel wooled, buffed and polished until it was perfect.

Then came the time to move it from the workroom into the bathroom so that the plumber could set the sink the next day. Only one small problem: the table wouldn’t fit through the bathroom door. Okay, so we’ll take the door off, no big deal.

Now we could get it into the narrow bathroom, but it couldn’t be turned to sit flat against its freshly painted wall. We tried everything — lifting, turning, sideways, vertical andndash; but unless this table could magically bend, it couldn’t be placed where I had planned. I thought all my hard work and pretty plans were about to go down the drain.

In the words of Jim Collins, it was time to face the brutal facts. I had three choices. I could start over and find a smaller table for the bathroom. I could cut a hole in the wall (hmmm, old plaster wallsandhellip;not a great option). Or I could cut the legs off the table so that I could get it turned into position, then glue the legs back on.

I took a deep breath, got the saw, and just kept telling myself, “It only cost $50. It only cost $50.”

IMG_2512.JPGIt worked! If you saw this table-turned-bathroom-vanity today, tucked firmly in its place with its vessel sink and ornate mirror, you would never know what happened.

Cutting the legs off the table was a risk. Maybe the legs would be sturdy, maybe not. Maybe the table would be ruined, maybe not. But it worked. Maybe I was lucky. Let’s just say I’m a big fan of Gorilla Glue.

I bet you face those kinds of situations every day in your businesses.

You have an idea, a vision. You can picture how it will turn out. You plan, you measure, you work hard.

Then you hit a bump in the road. Things didn’t go like you planned. You hit an unexpected obstacle. A key employee leaves. A competitor comes to town. Costs go up. The market shifts beneath your feet.

Now what? Do you go forward or pull the plug? Do you pursue your vision or give up? Do you play it safe or take a risk?

A few important questions help you evaluate the risks you face:

  • How important is your vision? More than any other factor, a bold vision is what fuels taking a risk. Take a hard look at your vision and your strategy for accomplishing it, then ask yourself, does this risk, more than any other, move you closer to your vision?
  • What are the alternatives?
  • What happens if you don’t take the risk? Can you still accomplish your vision?
  • What exactly are you risking? Can you live with the loss?
  • What can you do to mitigate the risk? That doesn’t mean settling for less. It means doing all you can to make the risk pay off.
  • How will you know when the risk is too great?

Life throws us curveballs. When you’re faced with a risk, look at all of your alternatives. Weigh the options. Weigh the risks. Look at best case outcome. Look at worst case scenario.

Then make your move, with no regrets.

Get your free podcast, Four Ways to Conquer Self Doubt, and lots of other free learning titles HERE.