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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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Fear Management vs. Fear Leadership

Friday, January 7th, 2011

The song of an entrepreneur…
Secretly, I’m afraid we won’t raise the money. But it’s okay. I can plow through that fear. We’ll raise the money, and everything will be okay. We’ll raise the money and stand the business up. We’ll have to hit our targets, get the customers in the door, run hard with the marketing plan. Yeah, it’s scary. What if they don’t come? What if they come but don’t buy? What if they buy, but not enough? It’s okay, I can manage that fear. It’ll work. I’ll make it work and everything will be okay. We’ll do this.

What if you don’t do it? What if you, say, “fail“? Does that mean that fear wins? How much do you need to be more than “okay”?

While we’re busy managing fear, fear can be managing us. It’s still creeping in, grabbing at our pant leg, begging to be paid attention to. And fear can always find a reason to get your attention – that’s it’s job – to get you to feed it. But what about the flu? (feed me!) But what about the market? (feed me!) But what about ten years from now? (feed me!) But what will they think? (feed me!)

Beyond coping with fear there is fearlessness. Because, here’s the white hot truth: if you go bankrupt, you’ll still be okay. If you lose the gig, the lover, the house, you’ll still be okay. If you sing off key, get beat by the competition, have to hand in the keys, you will still be okay. Ask anyone who’s been through it. They’re more than okay. People survive and they learn to thrive. It’s life. It’s business.

Don’t manage your fear. Lead your fear. Take charge. When fear climbs on your shoulder and starts nattering in your ear, here’s what you do: You stand as a master.You tell Scaredy Cat where you’re going, risks and all, and you convert Scaredy into a champion to help you get there. You say, lovingly but firmly (because ultimately the Scaredy Cat in you just wants some love and you’ve got plenty of it to give,) “Yep, we may fail, it’s possible. This is risky shit. But we’ll still be okay. Because that’s who we are. We’re the kind of people that are okay, no matter what. So remember that invincibility and let’s get to work. There’s a new land to discover and the only way to find it is to keep going – cliffs, cash flow, agony, adulation and all. If you keep your mouth shut and your eyes wide open, we’ll get there sooner. We’re doing this. We’re doing this because we want to. Because this is what it means to do life.”

And then watch what Scaredy Cat does. She’ll look perplexed for a minute. She’ll nuzzle up, as if to say thank you. And then she’ll strut down the street to help you recruit some new business.

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Danielle LaPorte is the creator of WhiteHotTruth.com, which has been called “the best place on-line for kick-ass spirituality.” She is the author of The Fire Starter Sessions: A Digital Experience for Entrepreneurs, an inspirational speaker, former think tank exec, and news show commentator. You can find her on Twitter @daniellelaporte

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Why You Should Build a Business You “Know”

Wednesday, January 5th, 2011

There is a famous adage that new writers should “Write what they know.” The thinking being that your writing will be believable, authentic and that, when you have passion for a subject you know really well, it is much easier for the words to flow.

Same thing with business, in my opinion.

While I’d never discourage someone from starting a business they’ve longed dreamed about, it’s best to build upon what you know – or ensure you get the proper training and education to make it succeed.  Taking calculated risks is one thing: taking risks you don’t have to take is just another way to make things harder on yourself and ensure failure. Many people fantasize about opening a restaurant or bar, but if the only prerequisite you bring to the table is that you like to eat or drink, perhaps you need to do a bit more prep work. Once you get into the brass tacks of running your business, you’ll be hit with enough risks and challenges, so why add to that?

I started Red Slice, my branding and marketing consultancy, after years of experience on both the client and agency sides. I’ve worked for ad and consulting agencies in the past and am familiar with how projects need to be managed, as well as how to gracefully juggle unreasonable client demands with good decisions. I have also been a client myself as a corporate Marketing Director and understand the world from their point of view: tight budgets, multiple approvers, being overwhelmed by a thousand demands. So it was a natural, easy fit for me to flow into my own consulting business and use what I’d learned. I had enough risk on my plate going from a regular salary to entrepreneurship and learning how to run a business: bookkeeping, taxes, legal requirements. Thank Heavens I didn’t also have to learn how to do what I do at the same time! Will I start a completely different business one day? Maybe. But now at least I’ve started down the path of entrepreneurship doing what I know best.

In branding, I teach clients to minimize risk and keep things simple by starting with their strengths. What are you good at and what can you authentically deliver? You may think you want to build a chic, progressive, high-end business because that is “hot” right now, but what if what you’re best at is casual and down-to-earth? There are markets and needs for those types of businesses, too. Brands grounded in truth are much stronger than brands that try to pretend they are something they are not.

Minimize unnecessary risk and play to your strengths. It’s not taking the easy way out: it’s just smart entrepreneurship!

This post was written for The CRAVE Company by Maria Ross. Maria is the founder and chief strategist of Red Slice, a branding and marketing consultancy based in Seattle. She has advised start-ups, solopreneurs, non-profits and even large enterprises such as Microsoft, Discovery Networks and Monster.com on how to craft their brand story to engage, inform and delight customers. Maria is the author of Branding Basics for Small Business: How to Create an Irresistible Brand on Any Budget (2010, Norlights Press).

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Get Back to School with Social Media U

Friday, September 24th, 2010

We were happy to learn that Social Media U is officially up and running and will start classes in the South End throughout the month of October, called “Social Media for the Tech Challenged.” This is a beginners class for anyone who has ever wanted to get started on Twitter or Facebook but isn’t really sure how. Check out what Tomeeka Farrington (spotlightcommunications.net) has to say about these classes on her blog:

Social Media is HOT. It’s only getting hotter! In today’s age, social networking is becoming the leading and most effective way to communicate on a personal level and to market your company, on a business level. Yet, there are still many people who do not know how to use it. The idea for Social Media U came to me one day when I was speaking on a social media marketing expert panel recently, discussing social media strategies that could be employed to enhance business branding and marketing . I was all prepared with my  notes and “cheat sheets” when a woman in the audience asked, “What is social media?” A light-bulb went off and I realized the need for us to back-up and define social media before we could actually move forward with the social media marketing strategies part of my lecture.

Tickets are just $20 “Early Twitter Bird Special” if you and/or a guest registers now. Also, if YOU sign-up a friend or colleague Social Media U will offer you a 50% discount on any future Social Media U class of your choice. Just have your friend/colleague reference your name. Social Media U is gearing up for its kick-off of personal and business track classes covering all things social media, that are sure to be amazing!! Even if you are on social media networks now there is always something new to learn to help make it work for your individual needs!

Click here for more info!


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Who Do You Buy With?

Friday, August 6th, 2010

I CRAVE deals, trying new places, and sharing my finds with friends.  BuyWithMe lets me discover and share it all!

BuyWithMe is a community buying website that fills you in and lets you try new  restaurants, spas, salons, and events by offering a new huge discount each day.  The deals typically save you between 50% and 90% off your meal, shopping purchase, or event ticket.   CRAVE Boston favorites such as Harvard Sweet Boutique, Kickass Cupcakes,  Moxie, Rouge Cosmetics, Velvet Fly, Habit, and In-jean-ius have already been featured.  Today’s deal features CRAVE Boston business Coven.  You can purchase $40 worth of dine-in food, drinks, and sweets for only $20 or $20 of take-out food, drinks, and sweets from their specialty market for only $10!

As an entrepreneur myself, I’m fasinated by new business concepts.  I have been a fan of BuyWithMe for sometime and have purchased more than a few of their deals.  I was intrigued, had some questions, and had to learn more!

How did it all begin?

BuyWithMe was founded in May 2009 by Boston-based entrepreneur, Andrew Moss.   Since then we’ve expanded quickly and now have over 60 staff nationwide.  We plan to be in 20 cities by the end of the year. Our CEO as of April 2010 is Cheryl Rosner, formally President of TicketsNow and Expedia Corporate Travel and recently named “25 Most Influential People in Travel” by Business Travel News.

What are some of BuyWithMe’s unique features?

We are working on new features all the time.  We make it very easy for our members to share deals with their friends through social networks (FB = BuyWithMeBoston Twitter = @BuyWithMeBos).  We have also added a refer a friend feature.  Referring friends is a great way to get a $10 credit in your account.   We love feedback and encourage Crave readers to tell us what merchants they’d like to see featured on BuyWithMe.

What benefit do you offer the businesses that you partner with?

We work with the top local merchants in every city we are in and we’re always looking for the hottest places and experiences to feature on our site.  Merchants love working with us because we connect them with a lot of new customers in a short time period.  They also benefit from repeat customers, referrlas, and new media buzz.

Are there any fantastic new deals coming our way that you can tell us about?

Keep your eyes peeled for a deal featuring  CRAVE Boston Business JMode!

How do I sign up?

To purchase today’s deal featuring Coven and take a look at what other deals BuyWithMe is offering check out our website.  To make sure you never miss a deal sign-up for Buy With Me’s daily email.

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The Wine Bottega, Boston

Thursday, August 5th, 2010

Women are learning about wine, drinking wine, and working in the wine industry more than ever. There is no better example of this than the almost 2 year old wine shop, The Wine Bottega, in Boston’s historic North End. Surrounded by the hustle and bustle of Italian restaurants, boutiques, and this time of year, feasts of various saints, The Wine Bottega’s upstairs shop and downstairs tasting cellar offer a place to not just purchase wine, but to experience it.

It is everything a wine shop in the North End should be, cozy, charming, warm, and welcoming. And most importantly well stocked with wine and information on wine for those looking for a little more.

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Owner Kerri Platt, who realized a dream when she purchased The Wine Bottega, has this to say about her shop: “From the first time I set foot in the shop, I felt that, like many of my favorite wines, there is a sense of history, tradition and specialness, that you can’t quite define, but just feels right.”’ (source)

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In keeping with its North End roots, The Wine Bottega offers an extensive collection of wine from a variety of Italian wine regions, but its inventory also includes quite the selection from France, Spain, and Austria to name a few.

Handwritten cards posted behind the wines offer notes on wine regions, wine makers, and wine pairings.

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Dark wood accents and exposed brick give the shop that North End feel; it is almost as though you have stepped out of Boston and into a shop on a side street in Florence.

Descending the stairs reveals even more character in The Wine Bottega’s tasting cellar. More wine, more dark wood, soft lighting, and a long table give way to a perfect place for tasting and learning about wine, something that happens frequently at The Wine Bottega. Special events and tastings, both inside and out of the shop, are regularly scheduled and include informative options such as Wine 101: Go back to school at The Bottega, tastings with winemakers, and even themed tastings like last week’s Pretty in Pink! Special Rosé Event, and 80’s themed tasting.

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I had the pleasure of meeting Kerri and then of exchanging a few follow up emails where she shared answers to the following questions:

Do you have any advice for women interested in breaking into the wine industry from other industries?
First of all, Go For It! The wine industry is a fantastic world to live in full of passionate people and amazing opportunities. There is no set path for breaking into the industry, although many people have either started out in a small wine shop or as wait staff at a restaurant and then slowly worked their way up. I think that retail is the best place to start as most shops are constantly tasting new wines. Find a shop where the staff is helpful and focused on education and start hanging out and asking questions. If you can’t get a paying position right away, offer to be an intern, help out during events etc. It is amazing what you can learn this way and it’s a lot cheaper than signing up for a wine program! Not only do you learn about wine, but you also start meeting people and making connections in different aspects of the business. If you are focused and passionate, further opportunities have an interesting way of presenting themselves.

Many women, especially younger women are interested in wine but still have the perception that it is intimidating. Do you have any thoughts on this?
It drives me crazy that wine is surrounded by this layer of intimidation and pompousness! My shop is dedicated to breaking down this barrier and making wine fun and accessible to everyone. There is no need for anyone to ever feel intimidated by wine. I teach a Wine 101 class and it is all about teaching people to relax, get a few basics under your belt and then start exploring. To me it’s what I don’t know yet about wine that keeps it interesting, there is always something new to discover!

Your shop is in the North End, a place of tradition and culture. How has this location helped to shape your store? Have there been any specific positives or negatives to being in an area of the city that is known mostly for its Italian food and culture?
I love being in the North End and I can’t imagine my shop being anywhere else. I am extremely passionate about Italian wine, so being in the heart of an Italian neighborhood allows me to indulge this passion to its fullest. It’s more than just being able to offer a great selection of Italian wines though, it’s about embracing the Italian approach toward enjoying food and wine together with family and friends as a vital component of daily life.

The North End is truly a neighborhood in the best sense. Everyone knows each other, says “hi” on the streets as they stop by the Mercato del Mare to pick up their fish, the Salumeria Italiana to pick up cheese and cured meats and then The Wine Bottega for wine. I love being a part of these daily rhythms. Combine this with being on the Freedom Trail with its constant stream of visitors from around the globe sharing their experiences, and it is a remarkably unique place.

If you live in or are visiting Boston, I definitely recommend a visit to The Wine Bottega to browse the wine selection or to attend a tasting or other special event.

Check the CRAVE Boston Blog often for more upcoming posts from our new guest blogber Meghan Malloy of Travel, Wine, Dine

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