Archive for August, 2008
Mom Entrepreneurs Its Time To Get Off the Struggle Bus!
Posted by: | Comments“The struggle bus”. I heard that term recently and it made me laugh. Can you relate? We all know people that seem to have a permanent seat on it! Let’s admit it, sometimes we ourselves are on it. Why? Well some people are just not that bright. The same mistake is repeated over and over. When I encounter people in this category it reminds me of watching a fly bounce off a window pane trying desperately to get outside. It seems to think if they try just one more time the end result will change which of course, it doesn’t. I’m not thinking you fall into that category since you are smart enough to seek insight from blogs like this one.
For go-getter’s like us the struggle bus can present itself in a variety of ways: procrastination, lost documents because the power went off and you forgot to save it along the way, a CPA who won’t call you back, kids not co-operating. You get the idea! If you can identify areas in which you consistently struggle you can create and place systems in your life to overcome them. For example, I have a bookkeeper coming in to help me get better organized with all the financial details. I hate that stuff. However, its a fact of life the government wants their money. I am going to create a system to overcome my reluctance to deal with this aspect of business.
What areas do you struggle with that can benefit from a system? If you are a clutter bug head over to my friend Lorie Marerro’s site www.clutterdiet.com. She is a master organizer and can help you out big time! If its staying on a diet or eating right you can head over to www.caloriecheckbook.com. I use that site whenever I feel “puffy” (whenever an extra couple of pounds trying to sneak up on me) and track myself for a week until I feel fit and strong again. You get the idea! Otherwise, you will be getting on the bus and paying the fare my friend!
You think you had a bad day? At least you weren’t kidnapped!
Posted by: | CommentsI interview moms everyday who fall under three categories: millionaire moms, experts in their field or moms with amazing stories. Today, I interviewed a lady that has an amazing story, Michelle Renee from Women Who Dream Big.
Michelle grew up in an abusive environment. Her Dad was physical with her mother and with her. As a result, she ran away from home as a teenager. At times she was homeless, other times she slept on friend’s couches. She managed to overcome these challenges and by age thirty she was a successful bank employee. In the middle of the night she was yanked out of her bed by intruders who kidnapped her and her daughter. They were bank robbers who had been stalking her for two months to figure out her patterns! They duct taped her 7 year old and said they would kill her if Michelle didn’t rob the bank for them. Needless to say, Michelle robbed the bank. Thank God they kept their word and released her and her daughter.
What I found fascinating about this story was her response to the experience. Let’s face it, between her upbringing and this horrific event she could have rolled up in a ball. Instead, she got in touch with her faith and decided to be an excellent role model for her 7 year old. She would not turn into a bitter, angry person. She started Women Who Dream Big as a way to reach out to other women and young girls who have been traumatized. Her daughter is now a teenager and is doing very well. Michelle is truly an inspiration.
The next time you are feel like the world is ganging up on you think about Michelle. The world can throw some crap on you but its your response to the events that make all the difference. You are a winner so be sure you respond as one!
You can check Michelle out at www.michelle-renee.com
Focus & Flexibility
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As a mom and entrepreneur we must consistently exhibit laser focus to achieve work goals. After all, work at home moms are typically limited to the hours our children are napping or are at school. You must learn to focus on the 3 activities each day that hands down move your business ahead the furthest. Busy work does not count. We all have busy work. The successful among overcome this and stay focused on growth. If you aren’t sure what those tasks are here is a hint: whatever makes the cash register ring!
Flexibility is another key trait for the working mom. This can apply to your home life as much as your work life. I was looking forward to a three mile run the other day. I headed out the door and my five year old trailed me saying he wanted to go jogging with me. Frankly, I wanted the time alone. He seemed so earnest though so I said, “ok, but its three miles, no stopping”. His attitude was “game on”. He made it to the end of the street and started walking but by then he had wormed his way into my heart like he always does. Do you know people like that? No matter what they do they always seem to wiggle back in to good graces? I do! Anyway, it turned into a 1.5 mile walk holding hands and chatting. I got a big “I love you so much mom” mid-way through the walk. By remaining flexible I had an even better end result than a jog: a happy moment with my youngest son. The point is life throws curve balls constantly. We can be rigid and stick to our agenda. This typically causes unhappiness and stress. Alternatively, we can learn to be like water flowing in a creek constantly moving around whatever objects it encounters. Let’s experience the unexpected and find the good in it. Let’s be water!
I have been thrown several curve balls since starting my websites. I’ve had to employ sugar, spice referenced in the last blog post, flexibility and focus to make progress. I have had setbacks, obstacles and challenges just like you. For me, flexibility, focus and faith will pull you through any tough times you may encounter juggling family and business. If you keep the reasons why you started your business in the forefront of your mind you will find all the focus and flexibility you need to make it a success!
Sugar Lips and the Entrepreneur
Posted by: | CommentsFor some reason the rhyme “What are little girls and boys made of” popped into my mind this morning. You know “sugar and spice and everything nice”. If someone asked me what little entrepreneurial moms were made of? I would answer an equal spilt of flexibility and focus. Of course, sugar and spice are important traits to because we must be able to motivate people to see our points of view (sugar) and sometimes lay down the law (spice). Some may think the sugar comment is a manipulation but I disagree. One of the most successful, admirable women in politics is Elizabeth Dole. Do you know what her nickname is? Sugar Lips. Yes, that’s right, Sugar Lips. She is well known for complimenting all those see encounters. The result of making everyone feel good to be around her? She accomplishes her agenda and feels good in the process out. If we treat each other as the amazing miracles we are then life does in fact get better on every level. If the past President of the Red Cross thinks their is merit to it then maybe there is wisdom in this approach? She realizes to get people to work towards a common goal they must feel good about the organization and their role within it. This philosophy translates well to any area of life. Mary Kay Ash said we all have invisible signs around our necks saying, “Make me feel good about myself”. Today why don’t you go about your day with that thought in mind? Imagine each person you encounter as having that sign on. What you can do to help them achieve it? How did it make you feel as a result? Who knows maybe we will start calling you Sugar Lips!
Mom Entrepreneurs: What’s Your Inner Rock Star?
Posted by: | CommentsOnce I read in order to figure out what you should do for a living you should make a list of things you really like to do and do exceptionally well. You know I keep it real for you so here is what I wrote:
socializing, networking, working about 4 hours a week, eating out at good restaurants, reading, figuring out what makes people tick, testing “the law of attraction”, earning big money for fun work, setting and achieving goals, planting seeds of belief in others, making people laugh and feel happy, inspiring others, and being physically fit.
I snickered when I read what I wrote. I make it a practice to never edit my writing upfront preferring to free flow. The truth comes out that way instead of what seems the most reasonable and logical. After I read it I thought “What the hell is this? I just want to have fun all the time and get paid oodles for doing it. That’s a great career path. I bet no one has ever thought of this before! Duh!” Disgusted, I threw the paper in the drawer and forgot about it.
Guess what? I ran across that paper the other day and realized I am in the process of creating exactly what I wrote on that paper-my dream job and its actually working! Millionaire Moms is picking up steam everyday. People everywhere are buying into it and into me as the fearless leader! What I wrote is the about 80% of what I do and I expect it to get to 100% once I get the business fully launched and functional. Isn’t that cool? You know why its working? Because I am an entrepreneur. I am creating not following. If I remained in the corporate environment I would have had a darn near zero chance of making this a reality. The majority of moms who work don’t get high enough up the corporate ladder to realize the lifestyle I described in my list. This is just one one of the many reasons it is awesome to be entrepreneurial. Personally, I don’t see how you can create your ideal life without being one. It is a ton of stress at times making it “rain” money but at the end of the day your in control. Its a great path for competitive people because business is an impartial judge. If your winning the cash register rings, if your losing your out of business. It is black and white in a very gray world!
I challenge you to make a list of what you are exceptional at and love to do. You too can use the information as the foundation for whatever business you choose to create or if you are already in one, shift your job responsibilities into this area as soon as plausible and then out source the other stuff. Serve your genius and it will reward you!
The Power of Money: Compounding Interest
Posted by: | CommentsWho Wants to Be A Millionaire? The awesome power of compounding interest!
Quick! How much money did you put into savings last month? Did I just hear you groan? You are not alone. However, this is not the company you want to be in. The simplest way for you to become financially independent is to develop the habit of saving 10-20% of your income throughout your life time. If you are starting out in debt, begin by saving 1% of your income and living on the other 99%. Keep adding a percentage to your savings as you adjust. Don’t slack off. Within a year you will have learned to comfortably live on 80 to 90% of your income and saving the balance. Learn to live within your means.
I take pride in the fact that I have never had credit card debt ever. I paid my way through college, paid for my wedding, bought all my own cars from the time I was sixteen and all without credit card debt. I lived within my means. In college I couldn’t afford a food card from the school so I ate .20 per pack Raiman Noodles and got a job as a bartender to cover the “social” aspects of college. As I became more successful I allowed myself to get nicer things…but I could afford them. It’s a discipline just like anything else. My suggestion is to become aware of your current situation and then if need be make changes as quickly as you can. There is no point in beating yourself up if you’ve messed up. Acknowledge, take responsibility and move on is my philosophy when I realize I’ve made a mistake.
To show you the power of compounding interest check this out:
To be a millionaire by the time you reach age 65:
Age Amount set aside per year Years to save Amount at age 65
15 $2,000 7 $1,020,430
15 $2,000 50 $2,327,934
25 $2,259 40 $1,000,000
35 $6,079 30 $1,000,000
45 $17,459 20 $1,000,000
55 $62,745 10 $1,000,000
Pretty amazing when you see it in black and white, isn’t it?
Just a little something to consider!
Business Plans for Entrepreneurs, Mompreneurs and Plan Writing Phobics!
Posted by: | CommentsLet’s face it, creating a business plan can be a daunting task especially for busy mom entrepreneurs! However, if you don’t self fund your venture you will be required to have a written plan. Even if you do self fund you will save tons of money and unnecessary mistakes if you take the time to create this document upfront and think things through.
A business plan is essential in showing any potential investors you are taking your venture seriously. After all, your asking them to buy into your dream! Are you capable of handling the funds? Have you been thorough in thinking through everything? Many work at home moms and other entrepreneurs are surprised at how much they failed to consider once they sit down to write it. There are free outlines on line. For example, www.score.org and www.sba.gov can be helpful or buy a software program to walk you through it. They aren’t that expensive. However, I like to share insider secrets to make your life more successful! So here goes:
I will now admit to you I am not a detail person. I like to think up the great ideas, get the ball rolling then let others figure out the details. This has proven to be part blessing, part curse over the years. I recognize my shortcomings and surround myself with people who are strong where I am weak. When it came time for me to do the business plan for www.millionairemomsnetwork.com. I took the advice of millionaire mom and outstanding female entrepreneur Sandra Yancey. She suggested I approach my local university about the MBA’s creating the plan for me as their class project. That is what she did when she created www.eWomenNetwork.com. I decided that was a great idea! I called up the Regent Professor at my alma mater, Kennesaw State University www.Kennesaw.edu and pitched him my idea. He invited me to class which fortuitously, had just started a new semester-my timing was perfect. I presented to the students and my concept was chosen. Now I have a 3 brilliant MBA minds and a Regent Professor of Georgia’s third largest university helping me craft my plan and my power point presentation! How awesome is that? I’d say “Way!”.
I am a social person. The idea of sitting in a quiet environment thinking really hard makes my eyes glaze over and I get sleepy. lol! The opportunity to create a plan with other bright people in a stimulating environment is just what I needed to get it done. The point is don’t ever give up-figure out a way to get the important things done in a way that motivates you to do them.
Welcome Mom Entrepreneurs, Home Based Business Owners, WAHM, and Everyone Else!
Posted by: | CommentsThanks for stopping by. I am Joyce Bone, millionaire mom and tour guide into all things entrepreneurial. I have an extensive business background and am a wife and mom of three boys. I understand what it is like to juggle work and family. My goal within this blog is to teach you the art of successfully raising a business and a family at the same time. What separates me from others is my network. I am the “millionaire mom reporter”. I have interviewed dozens and dozens of these millionaire moms this year alone. I will be your conduit to mom entrepreneurs with proven track records. These are women who have “been there done that” and conquered! I’ll let you in on a secret…we are all pretty similar. They have fears, doubts and experience ”mommy guilt” just like us . The difference between the them and the wanna be’s is massive action and fierce determination. If you take enough swings at bat you will ultimately score. These are women who scored to the tune of millions! I will share what I learn by talking to them with you. I will also pull insights from my own life and entrepreneurial career. I reached the brass ring in business when I took a company I co founded public on NASDAQ. It was a true honor and thrill that not very many men have even accomplished. I like to say I did it in “high heels and with a baby on my hip!” I don’t want to be arrogant because anyone who knows me knows I’m the opposite of that but I think women are still under rated in the business world. Those days are changing fast! I have also executed on dozens of real estate transactions as an investor. I even bought, operated and sold a 54 hole miniature golf course once complete with fiberglass elephants, zebras, alligators, apes, etc. on site. My kids loved that deal! I have lots and lots of stories to share.
My personal goal for this blog is to have a small part in inspiring you to live your ideal life. My hope is by sharing what I have learned as a home based mom entrepreneur you might find some nuggets to apply to your life. I want to be the one who supports you in being the best you that you can be! I want to lift the veil in your mind and show you what is possible. Here’s a question that changed my destiny: What is your ideal life? I heard that and went “huh”, “hmm”? I was 27 years old and never thought about it. I just did what was expected of me…college, marriage, baby. Wasn’t that it? Once I had all these success markers I realized it was not enough. I was grateful for these blessings but something was missing. I took the time to answer that question and it changed my life. I started my business and my life long love of learning. When I talk about “your ideal life” I am not referring to the one your parents, your spouse, society or the burden you may feel to stay put for your children’s financial security. I am talking about that inner voice in your head that yearns for more or that secret hope in your heart. That is the real you. I want to help you let it out. What are your unique gifts that you can share with the world and be fulfilled doing it? I won’t lie to you. It takes work to create your ideal life but it can and does happen and most importantly, it can happen for you! I look forward to walking the path you.