mo·men·tum | \ mō-ˈmen-təm , mə- \
plural momenta\ mō-ˈmen-tə , mə- \ or momentums Definition of momentum 1: a property (see PROPERTY SENSE 1A) of a moving body that the body has by virtue of its mass (see MASS ENTRY 2 SENSE 1C) and motion and that is equal to the product of the body’s mass and velocity broadly : a property of a moving body that determines the length of time required to bring it to rest when under the action of a constant force or moment 2: strength or force gained by motion or by a series of events The wagon gained momentum as it rolled down the hill. This definition of “Momentum” comes directly from the Merriam-Webster Dictionary – and no one can argue with this definition – that’s for sure! And yes, when I started my business and brought “Momentum Activators” and “Momentum Live” to you, that definition was undoubtedly at the forefront of my mind. But the word has come to mean more to me – and I hope it has to you, too. Because Momentum shifts and changes. · Depending on your business, where you’re currently at, and what goals you’ve set. · Depending on what’s happening in your personal life – because you can’t separate business and personal. · Depending on the tribe that is currently surrounding you and supporting you. And it’s these shifts and changes that make Momentum so powerful – both the dictionary definition and the programs I’ve created. At the last “Momentum Live,” I asked the participants: “What does it mean to be a part of Momentum?” To say the very least, the responses were fantastic – and here are just a few of them: · Safe, supportive environment · Pushed further · Variety of outside views · Big thinking and support · Place to start · Activator/accelerator of something already going on · A place to be pushed gently · Growth · Think outside the box Don’t you love it? They’re all so varied yet connected. And one of my favorites was: What you need, as you need it – because YES – that’s truly what my intentions are with Momentum Live and all of the programs that I bring to you. Momentum Live will be back this October…once again bringing YOU what YOU need when YOU need it – no matter where you are in your business. Who’s coming? Please comment below. I would love to hear from you.
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On Tuesday, you had the chance to meet Sonya Bethea in her interview for “What Businesses Need to Know Right Now.” She shared all about real estate investing and how it’s a fantastic strategy for expanding your income options.
Sonya was kind enough to share a few of her favorite resources when it comes to real estate investing – in case you’re thinking of making the leap! · Podcast: BiggerPockets – This podcast is released weekly (Thursdays) and is hosted by Brandon Turner and David Greene. It’s geared towards investors of all levels. · Books: If You Can’t Wholesale After This: I’ve Got Nothing For You – Todd M. Fleming – This is a step-by-step guide to closing your first real estate deal without needing any of your own money or credit. If You Can’t Cashflow After This: I’ve Got Nothing For You – Todd M. Fleming – This is the second book in the series and deals with building passive income also without needing your own money or credit. The Millionaire Real Estate Investor – Gary Keller – A book full of wisdom and strategies from successful real estate investors. · YouTube Channel: Dan Zitofsky – Zitofsky Capital Management – Great tips and tricks for real estate and not investing. And let’s not forget Sonya herself! She’s a great resource, and there are a few ways to connect with her: Sonya Bethea on LinkedIn We’ve all heard the old saying, “Don’t put all of your eggs in one basket…” – and if you’re considering using real estate as a means of diversifying – then be sure to check out the resources that Sonya has shared or get in touch with her directly. Please comment below. I would love to hear from you. Why should they be paying attention to real estate investing?
First of all, statistics show that this is a good place to invest. For example, on the Forbes billionaire list – and if you haven’t taken a look at that list, please take a look at it. I counted, every 10th billionaire on that list became a billionaire by having real estate. I have 15 years in the real estate industry, and I used to run from it. I still assist other professionals within their real estate business. But I knew that I could close deals in heels. I can sell. That’s something that I do very, very well. In my first year, we closed almost 30 deals. So, I knew I needed to get out from behind the scenes, and let my light shine bright, and go into these homes and solve these problems. “Transitions happen. When did you realize that you didn’t have to be the one just making the sales for somebody else – that you could be doing it for yourself?” Is there a particular strategy that you’ve utilized that’s been effective for your success? I got my start as a wholesaler. I’m now looking into becoming the bank because, having a wholesaling business, I can’t leave that to my son. But I can build a portfolio that’s cash flowing. And that’s breaking the generational curse and providing generational wealth for my family. His kids will be okay by building a portfolio that is diverse. You want to start letting your money work for you. And I say this, if you’re looking to receive upwards to 18% return on your investment, you should be investing in real estate. So you want to use your money that’s sitting in your IRA, money that’s just sitting there. Most people don’t know that they can take that money, and they can purchase real estate with it. Let your money work. Start purchasing notes. Start purchasing non-performing notes to become the debt holder, therefore making you the bank. Why is this a good time to be in the real estate investment industry? COVID. I’m just being honest – it is COVID. People haven’t had the money to pay their bills. They have problems. There are people that are sitting in forbearance. After the six months up, they need to have a plan. What plan? Sonyea is their plan. I’m going to help you get from under that loan that might be upside down. You might be facing pre-foreclosure. You might be facing foreclosure. Those are all problems that real estate investors can solve. And I’ve been getting really good houses, really good properties that need minimal work. So, I’m getting decent property that can cash flow good rents. But, I’m also finding properties in good school zones, and I’m finding properties that are somewhat dilapidated. They have problems. They need a new roof or something like that, and you solve that problem. “This is about being a problem solver. This is about coming in and finding solutions where it feels like there are none. It’s about finding a solution that works well for everyone to get everyone into a better place – and isn’t that what business is about?” What else should we know about real estate investment? The first thing you want to do is build your network. Then, you want to see if you want to start by wholesaling. I can show you how to make five to $10,000 in 90 days by wholesaling real estate. If you have a little bit of time, or you have a little bit of money that you can leverage to create a team around that – I can tell you how to do it. You can go and put somebody’s house under contract with zero EMD – earnest money deposit. So this is where you’re taking that contract, and you’re telling them, “Hey, I am getting equitable interest in your home, and I’m going to put this amount down. We’re going to hold it in escrow at an attorney’s office.” And I do it for $0. Why? Because I’m transparent. I build relationships. Sales are built on relationships. If you are a great listener and people gravitate towards you, you’ll be surprised at what you can do in real estate investing. I like to work with wealth builders, people who are wanting to leverage their money. So you can take that, and you can build a small team to do the dirty work – the cold calls and text messaging blasts. Then you can focus on the five to $10,000/hour efforts in your homes and looking for problems to solve. 3 Action Steps 1. Consider real estate investing to let your money work for you. For example, you can use IRA money to invest in real estate. 2. Think of real estate investing as a means to help people who are currently facing problems. 3. Build your network if you want to get started in real estate investing. Connect with Sonya Bethea at LinkedIn. Please comment below. I would love to hear from you. The weekend is here!
Actually, if you’re like me, you probably think about your weekend starting when you shut down your computer on Friday afternoon. You might even think to yourself, “Yes! Work is over, and the fun can begin!” Perhaps, you even do a little happy dance! But I want you to take a minute and think about why we equate the weekends with fun. Now, there’s no doubt that the weekends are fun – they certainly are! But shouldn’t work be fun, too? The answer is: YES! Now, I’m not going to say that work should be hours upon hours of fun and frivolity – because that’s just not realistic. But there should be fun moments. Moments that bring you happiness. Moments that make you smile. Unfortunately, if you’re finding the joy and fun and excitement of your work is slowly disappearing – or maybe it’s disappeared altogether – and that you’re “living for the weekend” – then it’s time to bring it back! So, how do you do that? Because so many of you are just like me, I know that one of the things that I find “fun” and take great pleasure in is in recognizing what I’ve accomplished each week. (I know this may not be what you stereotypically think of as “fun,” – but hear me out.) Celebrating what you’ve accomplished is vital to you and your business – and yes, it’s fun! And you should do it on a regular basis – so why not on Fridays? Think about how your Monday started and where your Friday ended – and everything that happened in between. I guarantee there’s something to celebrate in there – even if it’s just been a week of working in your business. Often, we want to celebrate the big moments like signing new clients or hitting revenue goals – when, in reality, all of those little steps you’re taking throughout the week are truly working to move your business forward – and should be celebrated. From now on, when Friday rolls around, I want you to spend 2 minutes having fun by celebrating what you accomplished during the week – and go into your weekend with a smile on your face! Please comment below. I would love to hear from you. What’s On My Bookshelf – Scale for Success: Expert Insights Into Growing Your Business – Jan Cavelle8/5/2021 Didn’t you love Tuesday’s interview with Jan Cavelle? She’s such an advocate for entrepreneurs, and as an entrepreneur herself, she knows exactly what so many of us face as we strive to grow and scale our business.
In fact, Jan has poured her heart and soul into helping entrepreneurs scale their business – and with that in mind, she has written a book called “Scale for Success: Expert Insights Into Growing Your Business.” And YES, it’s on my bookshelf! Amazon says: All it takes to start a business is a great idea and initial funding. But when it comes to growing and scaling a business – turning it into an enduring success – it becomes much more difficult to manage and sustain the various elements that are involved. You need to set out a clear plan, sustain funding, optimize marketing opportunities and develop an effective team. There are many opportunities to fail but, with Scale for Success, readers will gain valuable insights and practical advice from a global array of entrepreneurs and business leaders who have paved the way to their own versions of commercial success. Scale for Success features 30 entrepreneurs and CEOs, including Dame Shellie Hunt, Jeremy Harbour, David Meerman Scott, and Paris Cutler. These inspiring figures share their stories of successful growth and scaling and, most importantly, the practical and adaptable advice and guidance that led to their businesses moving effectively on to the next stage of growth. With insights from world-renowned figures in tech, real estate, marketing, and fashion, this book provides an eclectic array of original ideas and approaches that have been proven to be effective. Narrated and curated by writer and former entrepreneur Jan Cavelle, this book provides an engaging and enlightening pathway to scaling success. This is another must-have resource as you work to take your business to the next level in a way that’s not only successful but sustainable. You’ll love how the experts in her book share the answers to so many questions that arise when it comes to scaling – and the “key takeaways” provide you with advice that hits the mark! Be sure to check it out! Please comment below. I would love to hear from you. Why is entrepreneurship so important in the world right now?
It’s a great question. I’ve campaigned for entrepreneurship all my long working life. I’m a great supporter of it at any time, but I think right now, it’s more important than it’s ever been – because I think even the safest job is at risk. We’ve had a lot of jobs at risk through changing times and tech and automation. And now we’ve had the pandemic as well, which is in the process of putting a lot of companies out of business. I don’t think anybody’s job is safe anymore. You know, those days of us leaving a school at 16 and signing up in our local bank for life are long gone. Even a side hustle is some way of actually recession-proofing yourself and getting some security – taking some control back in your life. So, I think that’s really important on the one hand. Secondly, I think it’s hugely important because as companies are going, who else is going actually to create new jobs, but entrepreneurs who are growing? It’s the cycle. “There is financial security in having your own business. And, while your business may be struggling, when you’re an entrepreneur, you run the ship. You have the choice of how you adapt to that struggle and what you do next – versus being at the whim of a job that is no longer necessary and trying to figure out what to do next.” Even if you’ve got a struggling business, you’ve got several choices. You can open a second one and see if that takes off more. As you say, the choices live much more with you. “Entrepreneurship is really the pathway to innovation, change, and solving the problems we have because entrepreneurs are willing to explore those ideas.” What are the constants that companies still need to do to grow in current times? I’m a salesperson at heart. And, while I picked five things, my number one has to be sales – because, without sales, you haven’t got a business. It’s as simple as that. You’ve got to have sales. My second choice would be marketing and nailing your marketing differential. At any time, getting the marketing differential is essential, but in tough times, it’s obviously more so. It’s really vital. You need to stand out from the crowd. The third one would be nailing the right team. Again, because the wrong people can destroy your business, but the right people can make your business unbeatable. So, that right team is crucial at all times. Then I would pick systems because as you grow, you’re going to need systems and paperwork in place, and a lot of entrepreneurs glaze over that one. But there are probably people in your business, even if you can’t do it yourself, that actually enjoyed that side of things. So getting systems in place is crucial for any business to stabilize it. The last one, and this is easy to lose sight of, is to concentrate on profit, not growth. In that, because we get swept up in this idea of “I’m going to get 30% bigger next year,” and 30% bigger can be 30% worse off. If you’re in business, it comes down to profit and not size, and I think that’s an essential thing to remember. “If you don’t focus on profit, you can grow and not actually create a better business for yourself, your employees, or even the people you serve.” One of the things that fascinated me was the differential. I think there’s a big split, which has come about from a change in the amount of money invested or available to startups. Many of the more experienced entrepreneurs are quite anti the idea of too much money being available too quickly. They feel that there’s no substitute for experience. And drip-feeding or bootstrapping is really a good thing to do, or can be a good thing to do. Yet the younger ones say, “Oh, well, you know, I’m building a huge tech business.” So I think there’s a disparity of generations going on at the moment. And as yet, we’ve got no data available proving that massively funded businesses are actually grossing profit. So when’s it going to get to the size that it’s actually profitable? At what size is it going to be a market winner potentially? How much money are you going to chuck at something before it becomes profitable? It needs to be a balance of drip-feeding so that you’re not perpetually distracted or worried and climbing walls about money, but also so you’re not flooded and boring for no good reason. What do growing companies need to do differently to survive current times? I think a lot of it comes down to team care and team contact. But I think, speaking to experts recently, many companies are assuming that means they need to speak to that team over time. And that can be very easily misconstrued as checking up on people. Whereas what teams really miss is not their managers, but they actually miss each other. So, enabling people to spend a certain amount of time working in teams, be it through Google Meets or whatever is needed. Some people are naturally solitary, but the people who need it – need it really badly. Companies need to encourage that feeling of being part of something. If people can see each other, it really makes an enormous difference. As a business, you can cultivate this, and it will help your team be more productive. This will help your team be whole human beings. 3 Action Steps 1. Recognize that no job is safe, but as an entrepreneur, you control your future. 2. Pay attention to sales, marketing, establishing a strong team, systems, and profits. 3. Allow your team to interact with one another so that they can maintain that connection. Connect with Jan Cavelle at LinkedIn, or at Jan Cavelle Please comment below. I would love to hear from you. Toxic Productivity – Your Definition of Toxic Productivity, 3 Signs, then 3 Ways to Deal with it.8/5/2021 The measure of productivity is the total output divided by the total input. For example, if your organization produces $100,000 in goods or services with five employees, then the productivity is $20,000 per employee. As usual, you can massage this number depending on the perspective you take to create the equation.
And yes, I’ve spent the last few Saturdays bringing back some productivity basics that we all need reminders about in order to make sure our business is moving forward as we want. But I want to caution you about something – and that’s Toxic Productivity. “Toxic Productivity is attempting to increase output and, therefore, productivity without concern for the effect on the inputs, namely the time and energy of workers.” If you’re saying, “No workers! No problem!” – that’s just not true! That worker may just be YOU, pounding away in your home office while your family and team or business bustle around you. Wondering what toxic productivity looks like? If you find that you are exhausted at the end of the day with diminishing motivation and output, it’s time to look at if you have moved from productivity to toxic productivity. I look for three markers:
If you see these red flags, it’s time to reassess and determine if your productivity has moved into the toxic realm. Right now, I want you to take a moment and honestly reflect on your productivity. Are you experiencing these red flags? If so, there is something you can do about it. Remind yourself:
If you find yourself pushing harder to meet a goal and becoming frustrated or agitated with those around you because it feels like they are not working as hard as you are, this is a red flag that you have moved into the toxic productivity realm. In the end, the only person you have control over is yourself and your communication. Stop to review your expectations and the deadlines you have set for yourself and others. Do they make sense? How well have you communicated the expectations and allowed for communication back to you? I’ll say it again here – communication is key. Know that toxic productivity is not irreversible. It simply takes awareness to shift back into a healthier mode that, in the end, will yield better outcomes, faster. Don’t spend your time living by the motto: I’ve got dreams worth more than my sleep (Unknown) – because that’s toxic productivity at its best. Instead, find that productive balance that works for you – and watch your dreams still come to fruition. Please comment below. I would love to hear from you. Mindset is such a crucial part of success – and talked about often. But there’s one person who really took the time to research this area and then put all that she learned into a book that is totally captivating on this subject – and that’s Carol Dweck. And her book is Mindset: The New Psychology of Success.
I know that some of you have read this book (and probably re-read it multiple times), but if you haven’t, this is one for your bookshelf! Amazon says: “After decades of research, world-renowned Stanford University psychologist Carol S. Dweck, PhD, discovered a simple but groundbreaking idea: the power of mindset. In this brilliant book, she shows how success in school, work, sports, the arts, and almost every area of human endeavor can be dramatically influenced by how we think about our talents and abilities. People with a fixed mindset – those who believe that abilities are fixed – are less likely to flourish than those with a growth mindset – those who believe that abilities can be developed. Mindset reveals how great parents, teachers, managers, and athletes can put this idea to use to foster outstanding accomplishment.” And maybe that’s why I love this book so much – because it’s a book for just about everyone! (Yes, I have applied what I learned in this book to my parenting!) If you haven’t read it – all I can say is this is a must-read! You’ll get so much out of it! Please comment below. I would love to hear from you. What is virtual event management?
Virtual meetings are things that we had before, but now they’re more frequent. We need to make sure that they’re productive. A lot of my clients are meeting with their customers, and they need to make sure that they’re utilizing their customers’ time wisely. Sometimes it’s sales; sometimes it’s status updates and things like that for large projects that they’re working on. There are some things outside of that I’ve done, such as expos and more networking-type things – all the way up to award shows that have gone virtual for some international clients. With virtual event management – all you have to do is show up. You are the content expert, and everything else happens around you. So, there is typically a discussion with your virtual Event Manager, and they can set up slide changes, video changes, any of the technology side of things. And the portion that I really bring to it is the timing. I make sure, especially with my speakers, that if they have a certain amount of time to give that presentation, and even though there might be 45 slides in the slide deck, that they get through it in 20 minutes. We make sure that they’re not getting to the end of their presentation and not just saying, “Oh, we’ll skip this one and skip this one.” Because a lot of the clients that I work with have compliance, so they have certain things that they need to make sure that they’re getting across to their attendees, and they can’t take the chance that they run out of time to share that information. “There are many factors that you have to be managing all at the same time, as well as presenting, and I think we forget that this virtual space needs just as much support. Just because I have a computer and a camera doesn’t mean that I can run my own event. You can’t necessarily shift from online or virtual and drop all the support that you have.” What are the benefits of having a virtual event manager? I’m going to reframe that a little bit. Ultimately, you’re looking to have a heightened attendee experience. So yes, it will be easier for the presenter. It will be easier for everyone on the business side of things. But ultimately, we want to make sure that it’s seamless, especially with so many virtual calls that we’re on. We want yours to be something that is memorable. We want your attendees to know that their time was well cared for and they didn’t waste that time. They got the information that they needed. They were able to turn on their microphones, ask any questions that they needed to, and they didn’t have any of those technical difficulties that we’re seeing a lot of on those calls. “Oh, your microphone is off, right?” Those types of things do not happen when you have a virtual event manager there because they’re ready to handle all of those things. They are proactive, and they have that flow of show ready to go. It really changes the experience of what your client or customer is getting. They walk away going, “Wow! That knocked my socks off in a way that a lot of other digital meetings have not.” And it brings it so much closer to that on-site experience that you get with a bit more interaction. You can bridge that gap and not lose that connectivity that you have when you’re able to be in person. “Think about the virtual events you have attended. What have you noticed about them? Were they smooth and seamless and made you feel they were delivering what you needed? Or could they have used the expertise of a virtual event manager?” One of my favorite things is to get on the call and confirm the amount of time that you are scheduled for and confirm that the amount of time is still the amount of time for all parties involved. This is especially important for one-on-one calls. For example, I’ll confirm that I have a person scheduled for 20 minutes and make sure that they still have that time in their schedule. They might say, “No, actually, this thing popped up.” When you know that at the beginning of the call, then you can quickly figure out what your must-haves are and what are those cherry-on-top items that you have to maybe do in a follow-up email. Or, just get it done and make sure that you’re getting that information communicated in the time that you have, and leave time for those Q and A’s. I also love giving my clients time back in their schedule because it’s going to take me less time to do this. So, I can get them through the process in five minutes. And then, they have 20 minutes to go work on whatever they need to catch up on, and then the presentation starts. And so, whereas if it were them by themselves, they’d be doing tech check all the way up that, and, and losing all that extra time. That’s the time I give them back in their schedule. What’s the most important actionable item to implement on your next call and improve your time management? I very much “live in time” when I’m on a call. I may have a clock in front of me. I may have a timer going off. Often, for clients, we’ll be able to set up a countdown clock. When you do this, everyone involved in the call can see when that’s going to happen. Personally, it comes very naturally to me to be immersed in that time. But I do work with clients to help them to manage their time on calls. I will do a coaching call if they want to handle it themselves and walk them through it beyond the line, helping make sure they’re hitting all the points they wanted to hit during the call that and then we’ll do a follow-up at the end. 3 Action Steps
Connect with Laura Reiss at LinkedIn, or at Crux Organizing. Please comment below. I would love to hear from you. Last week we returned to the basics of productivity with energy management – and I loved hearing from so many of you about how you manage your energy! It’s good to hear that you know the value.
Today let’s piggyback on energy management and talk about REST! Rest is defined as: cease work or movement in order to relax, refresh oneself, or recover strength. What you’ll notice in this definition is that there is no mention of time. Rest can take place for five minutes or two weeks – but it does have to involve you stopping work. If the thought of not working on your business for a period of time has you stressed, anxious, or worried – then you are most likely in need of some rest. I probably don’t have to tell you all about the benefits of rest for an entrepreneur – everything from increased productivity and clarity, more motivation, better relationships with family and friends, improved health, increased creativity and inspiration…the list goes on and on. You want those things for yourself, your business, and for those in your life. Of course, as entrepreneurs, we’re accustomed to putting in the hard work with long days and strange hours…but have you ever reached a point where all that time and effort didn’t seem to be paying off as you had hoped? Did you find you were getting cranky, irritable, and feeling demotivated? Yes, you were probably in need of rest. So…you know the benefits, and you know you need it, but how do you go about getting it? Like anything – it takes practice and preparation. And here are a few steps to help you practice and get prepared. Take Small Breaks Throughout Your Day If you’re like a lot of entrepreneurs, being busy feels good. But if you build in breaks throughout your day, I can guarantee that you’re going to feel even better. And these aren’t huge chunks of your time! These are: · A 15-minute walk · Lunch at your local park without your phone · 10 minutes spent pulling the weeks in your flower garden · A five-minute conversation with your child about the book their reading You get the idea – just some time to disengage your brain from your business and put your focus on something else. Get Your Systems and Processes in Place When you have sound systems and processes in place – and you’ve shared them with your team – then you can rest knowing that things are just as they should be. Why? Because everyone is on the same page and knows what needs to be done. Trust Your Team If you have a team supporting you, trust them to do the jobs you’ve hired them to do – and give them the freedom to do so. This way, when you want to take a day off – or even a week or two off – things will go smoothly, and they’ll know that you trust them to take care of the business. Communicate, Communicate, Communicate Guess what? Your clients and customers will understand completely that you need rest – as long as you tell them your plans. Let them know that you’re taking some time off – and who they can get in touch with in the case of an emergency. Communication is key! (Don’t you feel like that’s said all the time – but it’s true!) Start Small and Work Your Way Up After you’re used to taking breaks during your workday, then why not try taking a day or two off – and see how your business does? (This is also a great way to see how your team responds and if there are any kinks in your systems and processes.) If all goes well, then it may be time to book that extended vacation so you can really relax, recover, and recuperate. So, who’s ready for some rest? With summer here, it’s a great time to practice and prepare – and REST! Please comment below. I would love to hear from you. |
AuthorBeing an entrepreneur and business owner is hard! Once you have your business up and running it's not uncommon to hit a few snags: scalability, staff retention, launching growth projects, getting enough sleep! Archives
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