Will Your Bubble Burst?

I have very vivid memories of the Tech Bubble. As a financial and business advisor, I was up to my eyeballs in the middle of it all. I remember all the chatter in December about the world coming to an end when the clock strikes midnight to 2000. In the months following, the immediate need for the thousands focused on technology came to a dramatic slow-down. Many companies closed. Hence…the bubble burst.

In 2007 and 2008, financial markets collapsed when the Real Estate Bubble burst. This bubble affected hundreds of thousands from lay-offs to foreclosures, it forced us all to look at how we make a living.

Fast forward to 2017. We are fully engaged in a new bubble. Let’s call it the Launch Bubble. With technology at our fingertips, hundreds unable to find a new job in this last decade and an increased desire to work from home, led many to create their own job and launch their own business.

Here are some scary facts about new businesses. With an average of 500,000 new businesses launched each year since 2015, over 550,000 fail annually.

There are three reasons for this excessive fail rate – first, there is a world of difference between having a talent and turning that talent into a successful business. Second, technology has over simplified the process of creating a new business. And the biggest reason, is most do not do the business building steps necessary to create, manage and grow a successful business.

There are six areas of business that demand your time and attention to clearly define the what, where, why, who & how of your business.

Each area of business is interconnected to the next; each holds equal weight so give complete thought to each section before you move on.

It is imperative that you take the time to do the brainstorming needed to development the answers that will work best for you and your business. I can tell you with certainty this intensive brainstorming process, will reveal solutions to a troubled business.

Download the Simple Six Business Workbook to begin the process of answers and solutions or Join me for a FREE live workshop to walk through each area to build a better business and enjoy a life you love.

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The Perfect Pitch

The perfect pitch, has the power to change everything.

In sports you can create the perfect pitch, strike out your opponent and win the world series. (Proud Cubs Fan!) In voice you can create the perfect pitch with a beautiful sound that touches the heart and soul. And in business, you create the perfect pitch to establish trust, increase engagement to build a better business.

Now, I can’t sing and I don’t play baseball, but I do know, the perfect pitch to build your business begins with these five elements;

1.Create curiosity or ask a question – did you know?

2.Speak to a target market – I (we) help

3.Identify the problem you solve – stop, improve, make, build,

4.Express your unique value – specifically we…

5.Include a call to action or offer – check out our website, get my free. download my…

Add in a bit of humor, a short story or antidote that reflects your personality. Make it conversational. Above all, don’t just wing it – practice, practice, practice.

Remember, you are a walking, talking business card. Show you are a professional. Be prepared and knowledgeable and your business will grow by leaps and bounds.

Here’s my 30 second pitch – what do you think?

Did you know over 500,000 new businesses start each year and over 550,000 fail. The statistics for women are even more dramatic. Ever wonder why?

My name is Sandra Price. I have coached and consulted countless entrepreneurs and found the majority have skipped many core business building steps when they started their business resulting in costly mistakes that have now turned into bad business habits.

As a business adviser I help my clients, build and grow successful  businesses through Wise Chick; we are a multi-level business development firm for entrepreneurial women.

Whether you are just starting out and need to learn the basics or you are a seasoned Pro ready for growth, we offer strategies, tools, resources and support to help you build, manage and grow your business.

You can go to wisechickpronetwork.com. Click on business bundles and download our free resources to help YOU build a better business.

(If its one on one conversation as they show interest, I ask them to grab their phone and I personally walk them through the download.)

If you’d like to learn about how Wise Chick can help you build a better business click below

http://www.wisechicknetwork.com

http://www.wisechickpronetwork.com

http://www.build-her.teachable.com

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Are You an April Fool?

A fool has to do last, what the wise did first.

Over the years I’ve worked with countless numbers of entrepreneurs across many industries, from a variety of backgrounds and business platforms. Some are wildly successful, while others struggle daily.

Regardless of where they came from, or how they became entrepreneurs, those who are successful have built their business with intention and purpose. They have a clear path and a strategic plan for each aspect of their business and they work it daily.

Here is the business strategy they followed to find success;

  1. They created a defined business purpose, guiding principals and vision. These three elements will become your road map and will help to keep you focused on the big picture.
  2. They sell what their customers want and how they want it. Build your business with your customer in mind. Its not about what you want to do – its about what your customer wants from you.
  3. They can separate themselves from their business and are open to change. Just because you don’t want to do something doesn’t mean you shouldn’t do it. If its good for your business – you do it.
  4. They have an ability to hold on for the long term. Building a business is a long road. Do you have what it takes? Are you willing to do the heavy lifting? Can get out of your own way and find a path to success? Do you have financial stability? Are you willing to give it up until your business begins to make a profit?
  5. They got help to create a business plan and although we edit the plan slightly, they stick to it. I don’t mean a formal 150 page plan, I mean an action plan – a thoughtful and detailed strategy of how you will build, manage and grow your business. Create systems to run each area of your business well with long term growth and profit.

The Wise Chick Simple Six Business System was created with the understanding that each area of business is equal to and connected to the next. Therefore, you must fully complete one area before you move on to another. When you build your business strategy with a complete system mindset you create a clear and cohesive path to success.

To learn more about the Simple Six Business System

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Accountability – The Glue That Ties Commitment to Result

accountability-resized-300x231Have you ever considered teaming up with an accountability partner? Especially for solo entrepreneurs an accountability partner can offer honest feedback, fresh insight, challenge you and hold you to your most important goals. Accountability is the glue that ties commitment to result.
Here are some tips to having an effective accountability partner relationship.
1. Be in the moment and respectful of the time commitment
Turn off your technology and commit to the time set aside. No need to spend an hour rambling. You can always schedule time to meet for coffee, lunch, etc., if you choose.
Prepare and use the time wisely. Ask and offer ideas, insight and perspective to grow each business.
2. Be empathetic
Put yourself in their shoes. Do your best to try to understand the whole person and talk them through their roadblocks.
3. Focus on strengths and not weaknesses
No one is perfect. Let their ability shine.
4. Listen effectively  
We can all learn to listen better. If the topic is detailed or complex often using the phase “If I understood you correctly” can help to clarify what’s being said and also makes your partner feel heard and understood.
5. Be open-minded
No situation in business or in life is exactly the same, so try to be open minded to one’s idea, even if you don’t agree.
6. Have patience
Patience as a virtue in any relationship. There may be moments of frustration, annoyance, miscommunication and lack of understanding. Focus on the positive side of being and having an accountability partner.
7. Be conscience of their mission, values & vision
Not everyone will have these written down, but if they do ask for a copy or a list of their goals. These business details are a great guide to their overall objectives and can be used as a road map to conversation and understanding.
8. Be honest, yet respectful
No one needs a “yes” person. Be honest and constructive, yet respectful in your conversation. You don’t have to agree, but truth is non-negotiable.
9. Be privy to the personal side
Everyone has a personal life that needs to be in balance. We all have good days and bad days.  And, remember we are all a work in progress – we are all perfectly imperfect!
10. Mums the word
Being one’s accountability partner, can be a rewarding experience. But like any relationship it takes effort. Work to develop a sense of trust. Keep all conversations confidential.
And finally, be willing to Share Knowledge, Insight, Resources & Talents. We learn and grow personally, when we help others.
If you hang with eagles, you’ll learn to fly.
Are you ready to get TEAMED UP?  Wise Chick Professional Network TEAM UP program is just one of the benefits of membership. To learn more go to http://build-her.teachable.com/p/wc-pro-network.
To learn more about Wise Chick go to http://www.wisechicknetwork.com
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Lead Her Ship – How to Make the Transition to a Successful CEO

Attractive girl relaxing on a yacht during summer day

Many believe successful leaders are blessed or anointed in some way. The fact is being a successful leader is a choice. It takes focus, hard work, determination, patience and persistence. Do you have these qualities within you?

Every leader has her own strengths and weaknesses and its essential to create a plan to build on the positives including your passion, drive and vision and the actions, habits and focus to grow your own business.
Let’s get started ~
What is leadership? Dictionary.com says – One who guides or directs a group. To govern, direct, control. To be a steward. If you walk into a room and begin to tell people what to do does that make you a leader? Perhaps.

So what does it take to be a successful leader? A leader must define what needs to be done. Get people to take action on a task. A successful leader can get people to willingly take action and perform their tasks at the highest level of production possible.  And that my friends, is the challenge.

Do you think leaders are born or made?

Think about one’s ability to become a great musical leader. It’s one thing to play a musical instrument; genes only give the potential to play music. To play great music, the musician must practice for many hours to perfect their craft.
A gymnast may have a natural talent, but without coaching and practice their ability to be successful is limited, even non-existent.

I think certain personalities are prone to leadership. But the fact is anyone can be a leader if they have the desire to lead and the willingness to do what it takes to be an effective leader.

Think about your own experiences; like most, I’m sure you’ve had an experience of working with a poor leader. What did you observe? What was the impact to you? How did they make you feel? What choices did they make? Could they have made different choices and obtained different results?

Did they have the willingness to learn to lead? The desire to lead is the most important trait. That is not to say desire is all you need. Because as we have already discussed – without learning a skill set to be effective even the greatest leader will be lost.

What does it take to be a successful leader? 

One thing to understand is there are many different kinds of leaders and its not just one single trait that makes a successful leader. Successful leaders have a variety of traits that come together to create a total sum; personality, behaviors, thought processes, skills and attitude.

To become a successful business leader you have to begin to identify your personal and professional needs, values as well as your own strengths and weaknesses. And you must decide how you will adjust your methodology to accommodate for your weaknesses – this is key.  Above all, as the leader of your company, you must decide how to lead them to a success outcome.

As the Chief Executive Owner (CEO) you are the thinker – not the doer and you have an obligation to ensure that the business model can sustain long term growth and expansion. It is important to define the roles, systems, expectations and guidelines of your business.

Here are some key objectives, traits and tips to creating a successful business culture.

There are four key objectives to becoming a successful CEO;

 Define the vision of your business – let this be your leading voice when making decisions
 Find ways to influence others to embrace your vision
 Motivate others to achieve the goals of your vision
 Play the role of teacher, coach, cheerleader and steward of your vision

In addition to these objectives there are specific traits of a successful CEO;

 Model of integrity
 Inspires others to reach beyond themselves to something bigger
 Sets clear goals
 Has high expectations
 Stirs emotions

As you look to your own goals, objectives, strengths and weaknesses you will begin to define your own leadership style. Here are a few tips;

 Become self – aware. Begin to acknowledge and accept your strengths and weaknesses and use your knowledge to perform better. Continue to learn as a leader. Become self-confident, motivated and passionate about your overall goals and objectives.
 Embrace we rather then I. You can’t do everything and you can’t be everything. Create a team environment that is welcoming and encouraging.
 Be the visionary, an innovative thinker. Always be thinking of new ideas, skills that foster future growth.
 Improve your people skills. Create a business culture that drives success by uncovering the individual’s goals and objectives and align them with the proper team.
 Establish a level of expectation & excellence – from the ordinary to the extraordinary.

If you would like an assessment of your specific leadership style send an email info@wisechicknetwork.com and be sure type leadership assessment in the subject line.

Wise Chick is a full service business development company. We work in collaboration with our clients and members to elevate their business. With a focus on business education, leadership development, sales systems and marketing and finance implementation, we offer coaching, consulting and support in a group or private setting.

To learn more about Wise Chick go to http://www.wisechicknetwork.com

 

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Don’t Roll the Dice. Turn the Odds to Your Favor

Businesswoman thinking of taking risksI knew I’d be an entrepreneur from a very young age. You see, I’ve been a part of the business world since I was 4 years old.

My very young parents started their own business in 1966 at age 20 and 24. I saw them work hard everyday. Over the years, I saw first hand, the joy and the sorrow of ownership and the struggle for achievement. I saw it at times, take its toll on my family. And it’s the reason why I moved thirteen times from kindergarten to junior high.

But, one thing is for sure – my parents NEVER EVER gave up. Failure was never an option and in the end they were one of the original and the largest franchise owners of a restaurant chain in the Chicago area with (10), solely owned and partnered locations. This story has a happy ending, Mom and Dad are now comfortably retired.

50 years later, happy endings for a small business are even harder to come by and not so happy….

Most business owners today, become business owners almost by accident, a personal situation or a change in the economy.

In 2008, when the economy fell apart and the corporate world was laying people off by the 1000s many couldn’t find a job, so they created a job for themselves. In addition, with today’s families struggling to keep the core of the family unit strong and thriving, moms are staying home and creating their own business opportunity to help support their families.

Bold move? Yes. No doubt these individuals are very talented at their craft, but if you’ve never owned a business before then how do you know how to run one successfully?

Here are some concerning facts – the US Census Bureau reports that over 470,000 new businesses begin every year and on average 470,000 fail annually. Statistically, more than 1/3 of new businesses will not last beyond ten years. Only 17% of small business owners have a formal business plan. 28% have some sort of plan and over 88% have no personal accountability to run their own business.

Business ownership is very complex. To be successful you have to do the ugly behind the scenes creating and planning, organizing and researching to learn how to run a business before you can run a successful business and generate a profit.

Here are some tips to turn the odds to your favor and find long term business success;

Plan to Succeed – I mean a detailed understanding of exactly what your business does, how you do it, why you do it, what do you stand for, what is your mission, what is your value to your consumer? I could go on and on with questions that need answers!

Business Systems – from your first prospecting handshake to the final sale and beyond how do you do business? A complete outline of steps, processes, procedures to operate your business.

Leadership and Management – that means you. Even as solopreneur you have an obligation to your consumer to learn how to lead and manage your company. The buying public is trusting you to create, build and manage your business providing high valued products and services that enhance their quality of business or their life. That’s a tall order.

Sounds like a lot – it is. But you and only you have the power to change the odds and find success. You’ve got to be willing to do the hard work. You’ve got to have grit to hang in and do what it takes and you’ve got to be willing to look inside and learn what you need to know to be a successful CEO – Chief Executive Owner of your company.

Wise Chick can help you improve your changes for success by teaching business skill building, leadership and business management systems.

Who is WIse Chick? I’m glad you asked –  YouTube https://www.youtube.com/watch?v=7zrPdGMMBNk

My passion and my purpose is to help women business owners become successful entrepreneurs. Our Wise Chick business development programs offer services for everyone on their journey through education, online and in person, coaching and consulting.

Wise Chick can help you become the entrepreneur you are meant to be.

To learn more go to www.wisechicknetwork.  To learn more about our online and live business education programming go to build-her.teachable.com

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Do You Suffer From Action Gap Syndrome?

Do you suffer from action gapYou may have never named it, but no doubt you have experienced it. 

Action gap, from beginning to end, can happen in seconds. You know you should take action….then….5, 4, 3, 2, 1. Done. Your mind moves on. No action taken. That’s an action gap! If you find you often don’t take action when you know you should, you can consider it a syndrome.

Since action is the root of all achievement this proposes a huge risk to you and your business.

So how do we prevent the action gap syndrome?

First, realize that Action Gap Syndrome is a real choice. You can take the action but consciously or unconsciously you don’t. There are generally two root causes of Action Gap;

#1. NO ACCOUNTABILITY – if you don’t take action who really knows? The answer is YOU.  By not holding yourself accountable you unmine your own ability to be successful and you diminish your sense of pride and accomplishment.

#2. FEAR – fear of success or fear of failure. Both very real in our minds, but the key to overcome these fears is to face them – head on! Change your perspective – change your reality.

Here are some wise steps to conquer ACTION GAP SYNDROME;

Define your “WHY”. If you don’t know why it’s important then a tasks or a goal won’t connect with you on a personal level, it won’t be important and it’s unlikely you will complete it. Think about impact and how you will it feel when your task has been accomplished.

Create a task list and checkpoints to measure your progress of completed tasks to achieve your goal. Include only those tasks that are key to your success. Keep your list out so you can be reminded when that moment comes along you will be motivated to take action.

Create due dates for each tasks. A time schedule can be helpful. Knowing you may run out of time to complete your tasks may be just enough to keep you moving forward.

Find an accountability partner. If you’re having trouble being accountable to yourself, find an accountability partner to help you fight Action Gap Syndrome; someone who will call you out when you don’t do what you say you will do.

As the founder and senior business advisor of Wise Chick, Sandra Price has helped business owners close their action gap and overcome their fears for many years, resulting in greater clarity, control and profit in their business.

Imagine becoming a better leader, improving your business systems to increase your profitability and income, while saving time and money. Wise Chick could be your answer.

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