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We’re supporting the Startup Weekend!

Friday, January 28th, 2011

Startup Weekend, Listed as the “Name You Need to Know in 2011″ by Forbes, is opening their doors again in Holland to startup enthusiasts to share ideas, form teams, build products, and create startups! As CRAVE entrepreneurs and valuable business people, you are all invited to attend this 54 h event in Eindhoven!

Check our little CRAVE team last year , which won second price.

EN: Melody Biringer’s blog

NL: Isrid van Geuns blog

UPDATE: Special discount code for 30% off ticket prices to all that are CRAVEamsterdam members / followers. Use “CRAVE” when ordering your ticket to get the discount!

Posted in Business, Connect, Events | 2 Comments »

What’s The Bravest Thing You’ve Ever Done?

Wednesday, January 26th, 2011


Continuing our monthly theme of risk taking in life and business we would like to share with you this great post from Chris Guillebeau:

The Bravest Thing – I asked this question last week and was flooded with hundreds of great responses. Here are many of them, with links to the people who were brave enough to share.

ferolea: Quiting my job go around the world was easy. Coming back… that’s the bravest I’ve been.
avalonmel:  Agreed to teach uni computer science course to 130+ students when I was 22… and afraid of public speaking.
TylerLClark:  I moved halfway across the country for an unpaid internship. At the end, they offered me a job. Glad I took the risk!
opheliaswebb:  Called off my wedding. And killed a spider in the shower. Equally terrifying.

“My belief about fear and courage is that all of us are scared of all kinds of things, so the wrong approach is to pretend to be fearless. Instead, acknowledge your fears, but proceed anyway” (Chris Guillebeau).

Read more here and get started with taking your own life changing risks!

Image by NickNguyen

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Video: CRAVE Women Speak Out On Risk

Tuesday, January 25th, 2011

Over the course of this month, we’ve tackled risk from many angles – from no-nonsense strategic advice to more personal affirmations that risk can be very rewarding. What’s the biggest risk you’ve taken in your business? Maybe you’re thinking of taking that risk soon? If you’re craving a little adventure, stay tuned because we’ve got four fabulous CRAVE entreprenesses sharing their experiences with risk on video for your viewing pleasure! We encourage you to watch this video and explore this month’s blog posts as you develop your own risk-taking style. Enjoy!

To learn more about the CRAVE businesses featured in this video, check out their websites below.

Barbie Hull Photography

Dish It Up!

Bella Cupcake Couture

Popcorn Pavilion

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5 Steps To Big, Bold and Brave

Monday, January 24th, 2011

We’ve all heard the myth that women are less inclined to take risks in business and their personal life then men. Yet it’s been proven that we are just as successful as male entrepreneurs and have access to the same amount of capital as they do in which to scale our businesses.

I’d like to think this `risk averse’ label we’ve been tagged with is because we’re smart and we calculate the trade off from going big or going home more often than men do. We put more time and effort into our decisions so as not to fail.

As a result we’re more strategic with our financial decisions, our hiring of the right team and our business development plans. Women entrepreneurs have many inherent advantages that we use to our full capabilities.

However you weren’t put on this earth to not make an impact. Your time for risk-taking is now. The latest Intuit Report states that over the next decade close to 1 billion women will be contributors in the world economy and women will create work and start businesses more readily than ever.

I’m pretty excited about that as my mission is to see more women start businesses. And not just any business – not a hobby or a jobby – but a fully scaled business that makes you lots of money and affords you the kind of lifestyle you’ve always wanted.

So how are you intending to join the 80% of women taking more risks and succeeding at the same time?

Step 1: Calculate your opportunity cost
This concept is basically working out the best use of your time. Calculating every minute or hour you spend doing something else that keeps you away from another activity that is worth much more to you. Then focus on the activities that, over the long run, will produce the highest return and most money for your business. Outsource the rest to a virtual assistant for much less than your hourly rate and get serious about investing in your business.

Step 2: Consider long term impact
Whatever decision you’re making that seems risky, look at the long term impact of it. Even if it seems scary right now, consider how it’s going to positively (or negatively) affect your business in 5 years from now. If you know it’s the main barrier holding you back from 6 or 7 figure revenues down the line then you need to take that first step – do it.

Step 3: Weigh up your options
Once you’ve decided to make the first step above, then look at the different options you have available to you and have a back-up plan. As entrepreneurs we’re meant to fail, just make sure you fail fast and often and know how you can change your approach should your `risky’ move not take you in the direction you wanted. Plan in advance for a change in plans and you’ll find you’re much more prepared.

Step 4: Split test your approach
If you feel diving in head first is just too much for you, for example you’re going to get a bank loan of $50,000 and invest it into opening two stores, then why not open one and put a proportion of the remainder towards an online shop to test and compare your success rates. If you have a private consulting business then consider doubling your rates (go on try it) and offer a package rate for your services as well as a monthly retainer. Let your clients select which one is more appealing to them.

Step 5: Learn from your mistakes
All this testing, risk taking, adjusting, failing and succeeding will be without purpose if you don’t take the key learnings from it. As you adjust make sure you note down why something didn’t work out, and when it did, what the ingredients were that led to that your success. Make sure you pass this on to your team and your support crew (mentors, coaches, family) so they can remind you of this later when you take your next risk!

Just remember not to take a risk out of desperation, nothing good ever came from that kind of decision. On the flipside don’t get talked out of taking a calculated risk by cautious family and friends and miss out on the opportunity of a lifetime.

At the end of the day – trust your gut instincts. As women it’s the most important asset we possess.
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Natalie Sisson is a Kiwi Entrepreneur and Adventure. She finds creative ways to run your business from anywhere using online tools, social media and outsourcing. She’s passionate about getting more women to create freedom in business and adventure in life and blogs about it at The Suitcase Entrepreneur.

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Stop Analyzing. Start Doing.

Monday, January 24th, 2011


Neither of us are really the adventurous type. Let’s just say we like to be comfortable. You know, comfy hotel rooms (no camping), warm fireplaces (no outdoor winter sports), and staying close to loved ones (no big cross-country moves). But while comfortable is easy, sometimes you need to step out of your comfort zone to grow as a person and discover new hobbies and meet new people.

We learned this firsthand when we were asked if we wanted to attend a blogger trip to a Vermont mountain to try snowboarding. Honestly, our first instincts were to say “heck no!” Standing around in cold weather, surrounded by strangers, with potential for injury? That is so not us. But we were tempted by the promises of good food, luxurious accommodations, and a hot tub. So we closed our eyes and winced, said yes, and hoped for the best.

To many of you, spending the weekend in the mountains being treated to delicious meals and free ski passes isn’t exactly a risk. But to two girls who didn’t grow up skiing and have always been a bit nervous about winter sports, it was a big risk. We weighed our options: what’s the worst that can happen? Sure, we could break a bone, but we could also do that walking down the street. Ultimately, we decided to stop analyzing and simply focus on doing.

And when the end of the weekend hit, guess what? We didn’t want to come home. We started referring to the mountain life and how we were getting used to it. We went for our last run on the mountain (OK fine, bunny hill) and immediately wanted to go up again. And when we were driving back to Boston from Vermont, we found ourselves discussing when we could return again.

Our theory is that when opportunities come along, you take them. No over-analyzing or making excuses and no trying to determine exactly what benefits the opportunity will bring you. Often you really have no idea what the benefits will be until you just do it. No, we didn’t move across the country, but we did participate in something we always just assumed we wouldn’t like. Against all odds, we came away loving it. Sometimes it’s the smallest risks that can have the biggest impact on your life. And that’s likely something we’ll still be talking about 15 years from now when we’re taking our families on joint ski trips.

Sues and Chels are the powerhouse duo behind We are not Martha, a fabulous Boston-based blog featuring scrumptious recipes, simple organizing tips, and must-have product recommendations. Chels is a graphic designer and designs mostly wedding invitations and stationery. Sues is a freelance writer and writes for a variety of websites. They’ve been friends since the second grade.

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Take a Chance: Be Yourself

Wednesday, January 19th, 2011

Out of all the things you call me, you might call me a risk taker, first. There’s a quirk in my personality that demands I do exactly what those around me say I cannot do. My ‘risk-taking personality’ has led to some of the greatest triumphs and humbling disasters in 29 years of my life.

As humans, we struggle with risk. When a moment calls for action, we stumble between wanting to play it safe and wanting to be a hero. Any successful business owner or aspiring business woman knows that it’s how we act under pressure that shows others who we truly are. Our approach to the struggle between safety and greatness, creates our true ‘risk-personality.’ And it is, our ‘risk-personality’ that will determine our success. I say, if you can find out WHO you are and what your ‘risk-personality’ is, you can immediately begin to understand your greatest strengths.

If you asked me what my greatest risk was, the answer would be simple. There’s a common misconception for women in business today. We’re taught that to function in a man’s world, we need to ‘act’ like men. I can’t think of anything farther from the truth. The moment we declare that a man’s actions are perceived to be stronger, or more important than a woman’s, we buy into a losing philosophy. I decided long ago, that I wouldn’t function as a man or a woman in business, but rather, as “Kate-Madonna.” My largest risk, has been in being myself. I know myself, and I know that the truer I stay to my own personality and strengths, the less I’ll have to compete with people who are merely playing a role instead of bringing their authentic selves to the table. I don’t see my strength as male or female, and I certainly don’t see my emotion as a weakness. My business relationships have been built because I didn’t offer a ‘male’ perspective or hide my truest passions and reactions out of fear of being labeled. For those that choose to label me, I ultimately win. Why? The more people understand who I am and what I bring the table, the more they’ll recognize my traits in others. Labeling is another way of being original. Good business knows no sex, creed or origin. Good business thrives because the people behind the brand ARE the message. I try to be both.

We are taught from a very young age that differences only rock the boat. Many of us submit to a belief in high school that conformity will bring us happiness. Those strongest and most successful  in business have learned that their differences, personality and originality is what creates winning brands.

Take a risk in being yourself. It’s the greatest strength you offer. And you’ll find? It’s not a risk at all.

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Kate-Madonna Hindes, is an industry leader and national author and speaker on emotional integrity and authenticity in today’s online media.  Her columns are regularly published in the Minneapolis Star Tribune, Brazen Careerist and JobDig.  Check out her website, Girl Meets Geek.

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Calculated Risks Get You On The Right Path

Monday, January 17th, 2011

Before I started PUNCH!media – a boutique agency for public relations and Social Media strategies – I started a business called Diaper Disco. I held bi-annual dance parties for kids under the age of 12 and their parents. The Diaper Disco was my first attempt at entrepreneurship.  The events were well attended (over 350 people at each event), but by the time I rented the venue, obtained insurance and paid other hard costs, I wasn’t making a profit.

Taking the risk of starting my own business, I learned many things including the importance of completing a thorough business plan prior to jumping in with both feet.  While I had done market research prior to the launch of Diaper Disco, I hadn’t assessed the fixed and variable costs to determine if the business idea would be profitable.  I had passion, a great concept, and loads of determination but I hadn’t gone that extra mile to ensure I would make a profit.

Failure isn’t a word in my vocabulary. Instead, I consider all my experiences as feedback and an opportunity to learn. I combined my feedback from the Diaper Disco with my experience in sales and marketing and now use it to help other business use social media to build buzz for their business. To be an entrepreneur you always have to take a certain amount of risk but you’re in a much better position for success if you do your due diligence and take a *calculated* risk.

My advice: before you launch the next million dollar idea, do a thorough Business Plan including:

-market analysis
-competitive analysis including SWOT (strengths, opportunities, weaknesses, threats)
-financial goals and ojectives
-marketing and sales plan
-organization and management structure

Your business plan is a living, breathing document. Re-visit it at least annually to assess your benchmarks and make sure you’re on the right track.  Because, to paraphrase the Cheshire cat in Alice in Wonderland: If you don’t know where you are going, any path will take you there.

Have you taken any risks that have turned into great rewards? Were they planned risks or happenstance?

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*This post was written for the CRAVE company by Leslie Hughes, the principal of an Ontario-based PR and Social Media Marketing firm called PUNCH!media.

Visit her website here: http://www.punchmedia.ca

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5 Powerful Steps to Evaluate Risk

Monday, January 17th, 2011

“Only those who dare to fail greatly can ever achieve greatly.”

— Robert F. Kennedy

Risk poses a powerful threat for the faint of heart, yet is ever present in the quest for great success. For many, risk so quickly attracts fear that (at an ever-present subconscious level) the two feel synonymous. The risk-adverse rarely achieve greatness.

When I think of risk, I scratch my head to identify any negative connotation. Perhaps its because for everything I’ve done well and at which, succeeded greatly, Risk was an ever-present companion. I’ve established a great relationship with Risk. When she shows up, I ask her a lot of questions. I determine whether she’s here to warn me or empower me to open fortuitous doors others have failed to observe or were too fearful to traverse. Risk is a messenger. Those who befriend her refer to her as a channel of information. Those who avoid her fear her.
Fear is a “poser.” It is the charlatan of risk. It suppresses while encouraging paralysis and retreat. A common acronym for FEAR is False Evidence Appearing Real. Fear leverages erred thinking that emanates from our inability to fully perceive the potential for a positive outcome and impact in the midst of unfamiliar territory. Fear is like the shadow that startles and has no power except to incapacitate. You’ll find fear is not a gut feeling, but a head game. An interview with Risk shines the light on the shadows and the value of the opportunity she’s here to share with you becomes increasingly clear.

Understanding that if you treat Risk as an agent of information, you’ll perceive her more positively and embrace her more readily. I’ve adopted a no-fail process for evaluating, mitigating and embracing Risk and the propitiousness of her presence.

1. Identify, characterize and assess the risks

  • What is the potential value impact of the opportunity should you embark upon it?
  • What is the potential loss of opportunity and value should you retreat?
  • What is the worst-case scenario? (With this clearly defined, will an effective strategy detour such a scenario?)
  • Identify unknown risks and associated opportunities
  • Is this risk required to achieve my legacy or bigger opportunity?

2. Assess the vulnerability of critical assets to specific threats

  • Time, energy, money, network and other resources
  • Would these assets potentially receive a higher impact in another investment vehicle?
  • Define peripheral costs, loss or gain if you diverted your investment to another opportunity?

3. Define the expected consequences of the types of risks on your specific assets

4. Identify ways to reduce potential risk and leverage gains for greater opportunity

  • Research risk aversion strategies
  • Identify and leverage resources to overcome obstacles
  • Transfer risk to external agencies (i.e. insurance company)
  • Prior to embarking on your opportunity, design built in risk control processes and containment measures

5. Create a strategy to prioritize risk reduction measures

This risk evaluation process takes the fear out of risk. It will help you know whether to engage or retreat, how to reduce or mitigate risk, avoid undesired consequences and maximize your potential for success in any opportunity.

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Sheri’ Taber is the CEO of The Peak Performance Group, Inc, a global management consulting. A twenty-eight year industry veteran, Sheri’ is an international award-winning, business expert with the capacity to take a business and its leaders in the right direction and solve the toughest problems.

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Risk is Really About Adventure

Wednesday, January 12th, 2011

As a child, I always used to answer “an adventuress” when someone asked me, “What do you want to be when you grow up?”. The thing is, I answered silently. Out loud, I would give answers like “a reporter” or “a writer” or something else I thought was more acceptable to grown ups.

It’s funny how my ‘secret word’ never changed, even now that I am a grown up. Whatever I may have done outwardly (and that was become a reporter, sell software, then launch a consulting business), I always felt that the map of my soul would lead me to adventure. This has made me more inclined to take risks and feel that that is the way it should be.

I’m not assuming that all women business owners see themselves this way. But just think of how many people want to work for themselves or from home and how many people love to travel. It’s nearly a universal desire – to gain more freedom of choice and to exercise that freedom by seeing new places and doing new things. These desires can be fulfilled when we take a vacation or launch a solo business – acts that require risk-taking, adventure, learning new skills, being afraid and being exhilarated at the same time.

If your childhood glory was to make dirt pies or climb into your tree house, you no doubt reveled in fantasy and risk. Remember leaping off porch railings and seeing how far you could go before your legs hurt when they hit the ground? That was an amazing feeling. In other words, what we want as children is still what we want even after we’ve gotten 9 – 5 jobs and been otherwise indoctrinated into the adult world. We still want to be adventuresses. There is no better way to return to the joy of being a child than through work, risk, and entrepreneurship. Find the fun and adventure in the heart of your job, and you will feel terrific. Do the thing that stretches you, and you’ll feel like a captain, a mariner, a wayfarer!

What risk can you take today that will move you on to a new stomping ground? Could it be to create a product you’ve been mulling around in the back of your mind? Order a kind of inventory you haven’t experimented with yet? Make a call to form a new partnership knowing that you might get shut down?

Some people choose this as their New Year’s Resolution: ‘Take one risk, no matter how small or large, every day’. Sounds like a good one to me.

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Jillian J Davis runs JoyBirds, a creative career strategy business based in Boston, Mass. Jilian helps people find their JEWEL and launch their life’s work. You can find more about her at jillianjdavis.com.

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5 Reasons to Take More Risks in Your Business

Monday, January 10th, 2011

Are you playing it safe in your business?  Are there things you want to do but you’re not because you think they’re too risky?

What is risk anyway?  Here’s one definition:

http://dictionary.reference.com/browse/risk
Risk –noun
1.   Exposure to the chance of injury or loss; a hazard or dangerous chance: It’s not worth the risk.

The chance that taking a risk in your business will result in a physical injury is pretty low.  But what about the chance of loss, what do you have to lose?

- Money
- Time
- Your Reputation

Keep in mind; these are the same things you stand to gain if your risk pays off.

Risk isn’t about being careless or reckless.  The risks you want to take are calculated risks.  And while there is no guarantee even for calculated risks, if you’re not willing to try something your business will stagnate. Think about it, not taking a risk is also a risk. Just like choosing not to decide is a choice.  Are you with me here?

The longer you stay in inaction, the easier it is to keep doing nothing.  The opposite is also true, when you get into action you create momentum and taking additional action becomes easier.

This quote by Seneca hits the nail on the head, “It is not because things are difficult that we do not dare, it is because we do not dare that they are difficult.”

If the reason you’re not taking a particular risk is because you don’t know how to do get it done, you have two choices.  Either learn how to do it or hire someone.  Problem solved.

So what’s the worst thing that could happen if you went ahead and took the risk?  Write down a list of all of the potentially awful things that could happen.  Now, go through the list and ask yourself the following questions:

1. If all of these things actually happened, what would the consequences be?  Would the benefits outweigh the bad stuff?
2. How likely is it that these things will actually happen?
3. How would you feel if none of the bad things happened?

What you’ll probably discover is that you’ve exaggerated what could happen as well as the size of the impact it would have.

See, fear is a funny thing.  As long as it’s an abstract concept with no connection to tangible outcomes it can paralyze you.  If you can get specific about what you’re afraid of, and what might happen, it’s much easier to take action to prevent it or prepare for it.

You need to get clear about whether you’re just afraid or if what you’re thinking about doing isn’t really a good idea after all.

5 Benefits of Taking More Risks:

1. Um, you’ll make more money (yeah, that’s one of the reasons you’re in business right?)
2. You will learn as you go (perfectionism is highly overrated – “Perfectionism is the voice of the oppressor.” Anne Lamott)
3. Taking risks/actions consistently creates momentum and will lead to you taking more risks/actions (trust me about this)
4. By taking small risks you’ll be willing to taking bigger risks
5. You will keep moving your business forward and not get stuck in a rut

I hope you’re starting to see how taking calculated risks pays off.  What’s one risk you can take today that will help you grow your business?

This post was written for the CRAVE company by marketing coach Stephanie Ward of Firefly Coaching.

Fireflycoaching.com

Facebook.com/fireflycoaching

Twitter: @Fireflycoaching

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