Be Uniquely You!

As the founder of http://millionairemoms.com it is part of my job description to get up in front of people to speak, educate & inspire. I love this yet it’s a new world to me.

I spent several days listening to a speaker who was a mix between Jim Carey & Tony Robbins.  He was a bit over the top for the more conservative folks but I found him endearing, funny & smart.  I realized after hearing the positive and negative comments on this speaker that you can’t please everyone.

I have decided I will be “uniquely” me in all aspects of millionairemoms.com. As such, this blog will evolve to show the silly side of Joyce as well as the seasoned entrepreneur. If I am going to work as hard as I do then I want to be surrounded by dynamic, fun loving entrepreneurs that love to laugh and get “me”!

If you know any good jokes then be sure to post it! I’m sure the community will appreciate some humor in there day.

Here’s a video that makes me laugh. These guys are from ATL.  It hits close to home in my world. I hope you like it too!

How NOT to Network

I just got home from a conference in San Francisco. I met a ton of people. The vast majority were wonderful but a few fell into this category!

Millionaire Moms Guide to Raising Money

“How can an entrepreneur starting out in business expect to raise capital in today’s down market when the banks aren’t lending?”  This was a question posed to me recently. First, expect is a passive and weak word. It’s important to choose our words wisely and train ourselves to be solution based rather than problem focused.

Here’s the down low from my experience raising $68 million dollars for my business ventures in three distinct industries.  The short answer is there is always money available for the right idea at the right time.

The trick is getting in front of the right people and not getting discouraged when you hear “no” a bunch of times.  Raising capital is a sales function which means it’s a numbers game.

It’s also easier to close deals with people who know your intelligence level, character and work ethic. By the way, make sure you have these before trying to convince others to invest in your company. You typically don’t get a second bite at the apple. If you lose someone’s money they might forgive but they definitely won’t forget!

Another tip is to share your milestones with those that can help you. If an investor sees you making progress over time the odds of investing in your company increase.  Remember, it’s the jockey people bet on not the horse.

I’ve always preferred talking with investors within the industry I am operating in. The battle is half won already. They get it. I just have to be convincing on the business plan, the management team and what’s in it for them.

I have always raised funds in a way that flows with the current economic cycle rather than against it. When IPO’s were hot I structured my business model from the start to take advantage of the trend. When I was active in real estate I leveraged OPM (other people’s money).  In today’s marketplace I  am experimenting with creative financing methods.

I believe in leading by example so I am showing my millionaire moms members that you use creativity, leverage and knowledge to raise funds. I once bought an investment house for $10.00 in earnest money and turned it into $10,000 in one month. This is just a small example.

Those who succeed are not always the smartest. For instance, school was the backdrop to my social career. Certainly many were smarter than me but few were as motivated or resourceful in accomplishing goals. To quote Cynthia Good from Pink Magazine, “The triumphant are those who don’t give up!”

My current venture www.millionairemoms.com is a wealth of information. I have asked dozens and dozens of ultra successful moms how they raised their funds? The answers have been fascinating. Women typically take a different approach towards raising money. They tend to want to self fund more then men and don’t typically consider venture capital funding at all.

Here are two examples of creative financing I’ve run across. One mom sent her business plan package to 30 CPA’s. She figured they’d know which of their clients would have an appetite for her type investment. She sent a letter asking they  review the plan and submit it to clients that might have an interest.  She followed up and got funded. A member of millionairemoms.com heard the idea and did the same thing. She got funded as well.

Another successful mom told me how she enlisted her local University to help her write her business plan. I thought this was a good idea. I tried it and it worked. The MBA students took on my project. I am now competing in business plan competitions with the school. The cash prizes range from $10k-$100k per competition. This will be seed money to grow my business. Venture capitalists will be in the audience. This will be a great networking opportunity. From this experience I will also be polished in pitching my plan should I ever seek outside funding.

Today, I read about how Tech billionaire Mark Cuban is offering “open source funding” for all entrepreneurs.  He details it on his blog www.blogmaverick.com. You post your business plan on his website and get comments and possibly funding. This isn’t for everyone but the point is, think outside the “have to get a bank loan” box. There is more than one way to skin a cat!

If you want additional insider secrets like how one of our millionaire moms invented over 100 products without spending money up front then sign up for my free weekly eZine at www.millionairemomssecrets.com for a free audio and written transcript detailing her journey.  She even landed a contract with K-mart for $1 million dollars without an appointment!

Always keep your ears open for opportunity and go with the trends, not against them. (Hint…I just offered you one!).

Carpe Diem!

Just Go A Little Bit Further!

I had an experience the other day that felt like a metaphor for my life. I was driving down a road I often get confused on. There are twists and turns that make it a challenge to remember which way to go.  I started feeling like I had made a wrong turn. I thought, “I’ll just go a little further and see.” Which I did. Ultimately though I doubted myself & turned around in favor of the “safe way”  I was familiar with.

The safe way meant I added extra time, travel & aggravation to my day.  The funny thing is I realized the very spot I turned around at was a mere 100 yards away from landmarks I would have recognized as having been the right way to go.  If I had only gone just a little bit longer…

This felt like a metaphor for my business.  I had been feeling discouraged that day.  I was driving thinking about all the work that needed doing. Overwhelm set in & I started questioning if I was making the right decisions purusing this dream? I have made tremendous strides over the year but it didn’t feel like enough. I have been working really hard.  I was tired and felt very alone in my journey.

These thoughts came to an abrupt halt once I figured out I had been so close to successfully nagivating the road I was traveling. I had quit moments before I experienced the breakthrough. We have all heard the saying, “It’s always darkest before the dawn.” I decided right there & then I wouldn’t quit my business no matter how tired or hopeless I felt. I would solider on. Victory goes to the decided heart!  I would work smarter not harder.

A few days later I was presented with an opportunity that could really take my business to the next level. What if I had quit that day? I would never have known.  I want to encourage you in your business journey to have a decided heart. You never know when you are just around the corner of success!

Revolving Door Mentality

I have been very busy writing my book due out in Spring 2009.  Today as I typed away I added some thoughts from millionaire mom, Nancy Bogart from www.jordanessentials.com. She is an incredible mom and business woman.

At the beginning of her journey running her bath, body and spa business she found herself surprised whenever someone in her company left. She explained to me, “Not everyone will love your dream like you do. If you are the owner, you really do care more than anyone else.  It never occurred to me people who were with me in the beginning would ever leave.  I had to learn to get over how I felt when this happened. ”

She went on to say,  “There are seasons in life and ways of life.  A season of life is temporary and short term.  A way of life is confidence, strength, purpose and vision.  Seasons come and go, be sure to keep the main thing, the main thing, and that is Love.  Nothing is greater and strive to be loving to someone as they end a season with you. You never know what will happen in the future. A good friend once told me to have a revolving door on your business and life.  Let people come and go as long as it is healthy. Living life with this mentality will lead to an abundance of people in your life.”

I love the concept of a revolving door with relationships. Instead of burning bridges or passing judgement let’s  strive to understand everyone has different needs, wants and desires. This does not make them “wrong” for not seeing things your way. This is a beautiful metaphor. I hope you recall the next time you feel the sting of someone exiting your life whether in business or personally. Love abundantly and create rather than react. These are two things at the top of my to do list for 2009!

Don’t Go Chasing Waterfalls…

Last night I went to a “Ladies Night Out” to support Chilli Thomas from TLC, latest entrepreneurial adventure, www.bagsbychilli.com. I had recently interviewed her for my website www.millionairemoms.com and got invited. I went with a crew of girlfriends. Yesenia Leonard, my fab friend and Assistant rode shotgun with me down there. We were in deep discussion trying to figure out what Super Hero we would be (Wonder Woman and her Lasso of truth or Cat Woman and her leather outfits?) and what super power was the best (flying, being invisible or super fast?) when serendipitously, two minutes before arriving at the event ”Don’t Go Chasing Waterfalls” came on over the radio. We took that as a good omen!

I love the fact that Chilli spread her entrepreneurial wings and created her own Internet based business. How cool is that?! She was a fun interview over the radio but in person she is simply amazing.  Chilli has a way of making each person feel like they are the only person in the room. Her entire team including her sister Justice and PR ”phenom” Christal Jordan Mims with Enchanted PR, www.myspace.com/enchantedpr are down to earth, friendly & fun! They made sure we all had a good time. Everytime I carry my new bag by Chilli I will be reminded to gift each person I meet with my undivided attention and a smile!

L to R: Yesenia, Joyce, Yolanda, Chilli, Elizabeth & Abbe

Go Daddy Insights for Entrepreneurs & Winners

I read this and thought it was worth posting. 

Bob Parsons – Founder of Go Daddy Group (www.GoDaddy.com)

1. Get and stay out of your comfort zone. I believe that not much happens of any significance when we’re in our comfort zone. I hear people say, “But I’m concerned about security.” My response to that is simple: “Security is for cadavers.”

2. Never give up. Almost nothing works the first time it’s attempted. Just because what you’re doing does not seem to be working, doesn’t mean it won’t work. It just means that it might not work the way you’re doing it. If it was easy, everyone would be doing it, and you wouldn’t have an opportunity.

3. When you’re ready to quit, you’re closer than you think. There’s an old Chinese saying that I just love, and I believe it is so true. It goes like this: “The temptation to quit will be greatest just before you are about to succeed.”

4. With regard to whatever worries you, not only accept the worst thing that could happen, but make it a point to quantify what the worst thing could be. Very seldom will the worst consequence be anywhere near as bad as a cloud of “undefined consequences.” My father would tell me early on, when I was struggling and losing my shirt trying to get Parsons Technology going, “Well, Robert, if it doesn’t work, they can’t eat you.”

5. Focus on what you want to have happen. Remember that old saying, “As you think, so shall you be.”

6. Take things a day at a time. No matter how difficult your situation is, you can get through it if you don’t look too far into the future, and focus on the present moment. You can get through anything one day at a time.

7. Always be moving forward. Never stop investing. Never stop improving. Never stop doing something new. The moment you stop improving your organization, it starts to die. Make it your goal to be better each and every day, in some small way. Remember the Japanese concept of Kaizen. Small daily improvements eventually result in huge advantages.

8. Be quick to decide. Remember what the Union Civil War general, Tecumseh Sherman said: “A good plan violently executed today is far and away better than a perfect plan tomorrow.”

9. Measure everything of significance. I swear this is true. Anything that is measured and watched, improves.

10. Anything that is not managed will deteriorate. If you want to uncover problems you don’t know about, take a few moments and look closely at the areas you haven’t examined for a while. I guarantee you problems will be there.

11. Pay attention to your competitors, but pay more attention to what you’re doing. When you look at your competitors, remember that everything looks perfect at a distance. Even the planet Earth, if you get far enough into space, looks like a peaceful place.

12. Never let anybody push you around. In our society, with our laws and even playing field, you have just as much right to what you’re doing as anyone else, provided that what you’re doing is legal.

13. Never expect life to be fair. Life isn’t fair. You make your own breaks. You’ll be doing good if the only meaning fair has to you, is something that you pay when you get on a bus (i.e., fare).

14. Solve your own problems. You’ll find that by coming up with your own solutions, you’ll develop a competitive edge. Masura Ibuka, the co-founder of SONY, said it best: “You never succeed in technology, business, or anything by following the others.” There’s also an old Asian saying that I remind myself of frequently. It goes like this: “A wise man keeps his own counsel.”

15. Don’t take yourself too seriously. Lighten up. Often, at least half of what we accomplish is due to luck. None of us are in control as much as we like to think we are.

16. There’s always a reason to smile. Find it. After all, you’re really lucky just to be alive. Life is short. More and more, I agree with my little brother. He always reminds me: “We’re not here for a long time; we’re here for a good time.”

Mom Entrepreneurs Are Like Sharks?

Have you ever wondered if you were an animal what type of animal you’d be? OK, maybe not but I have after observing a man with a dog that just seemed to have his essence. You’ve seen people who sorta ”go” with their animals. Here’s another couple of random questions: ”What would you name yourself if you could have picked your name?” ”What grade do you think your future son or daughter in law is in right now?” These are questions I have developed to zen myself in stressful situations (like the 35 minute wait at the post office yesterday). Read my post on happiness to gather more information on this subject. I have satisfactorily answered these riveting questions for myself. If you have any interesting or humorous ones to share by all means post it. We could all use a few more mental mini-vacations! 

My youngest sister came over last night for an impromptu visit. She unsolicited offered an answer to the “What kind of animal” question. It turns out I’d be considered a marine vertebrate (a/k/a “shark”).

She walked in the door with a bottle of wine. I shouted out, “Party is in the laundry room!” as I was folding clothes.  I am trained like Pavlov’s dog to the dryer. If I hear it beep I will race from wherever I am to get those clothes out and folded/hung. I don’t iron so its our clothes only hope of being presentable. Afterwards, she watched me feed the kids, answer questions about homework, discipline my 5 year old for walking on the coffee table barefoot. Besides being dangerous how do you explain footprints on a newly polished coffee table? I let the housekeeper go in an effort to force myself to train 3 boys how to keep a house. I created the tagline ”Team Bone” for ourselves to help build camaraderie for moments like this weekend when all five of us went nuts cleaning together. We scrubbed walls, toilets, the dog. Anything that was dirty got handled.

It was a typical night at our house-lots of activity. My husband is out of town so I had to handle it all. We normally ”divide and conquer” especially if I have a guest over. I started showing her various business projects I am working on one of which required a tv.  We went into my bedroom and she noted I was painting it and asked “Why?” I pointed to the nasty booger stain on the wall (Why use a tissue when you can use your mom’s bedroom wall?) and to the hole in the wall where the doorknob was smashed into the drywall after a particularly energetic burst of “Chase and kill your brother” spilled over into my room. The booger stain on the wall (which is gone now I promise) did it for my sister…she had a mouthful of red wine that darn near came out of her nose. She managed to spit it into the glass before rolling on the bed in peels of laughter. FYI and fair warning: I have a talent for making people shoot liquids out their face. In fact, I used to make my younger brother blow milk out his nose at least once a week at dinner with my stories. The Irish are known for their storytelling abilities. To this day he won’t drink milk around me. It was then that she said, “You know your like a shark. You are constantly moving.”  I am constantly moving. I wasn’t sure I wanted to fall into the shark category as they don’t conjure up a warm and fuzzy, do they? I’ve done my best not to encounter one since Jaws worked its psychological magic of keeping all kids born in the late 60’s and 70’s out of ocean water. However, there are some similarities between sharks and mompreneurs. They are constantly moving and so are we. They bounce on opportunity when presented and so do we. They will rip you to shreds if you threaten their young and so will we! According to Wikipedia, sharks are rarely observed mating…perhaps another similarity? lol! Of course, I like to think we are also like a warm puppy….you can read my earlier post on that one!

The Middle of Nowhere

“Mom, what does the middle of nowhere look like?” my five-year-old asked me the other day. The question made me laugh. I answered, “It depends on the person and where they are.”

 

I thought it was a good metaphor for the feeling s of doubt we all experience from time to time in any worthwhile activity. My “middle of nowhere” is where I am at today. I am on my chosen path and I know where I want to end up. I have a good road map in hand of what I think it takes to be successful. I am marching full steam ahead. 

 

However, every once in awhile that sneaky little devil called “doubt” dances into my head. It happens in those moments when I take my eye off the goal. “Where the heck am I? I’m in the middle of nowhere!” my mind thinks. 

 

Work, work, work with no end in sight and no promise of success. That can be intimidating to a mom with three kids who’s trying really hard to combine passion with income and a flexible schedule. I am a big believer in having it all, but still every once in awhile doubt sneaks in and I feel like I am in “the middle of nowhere”. I realize it is my inner chicken speaking so I let the thought pass right on through and just dive back in Before you know it, the feeling fades. Another milestone is achieved. 

 

You are not alone. It’s okay to be afraid sometimes, and to have doubt. It’s human nature. It’s what you choose to do—or not do—with that fear that ultimately separates the successful from the not so successful. The next time you feel you are in your version of the “middle of nowhere”, take heart and know you are not alone. The moms at www.millionairemoms.com understand. We all have doubts from time to time, and we are here to support you! 

Happiness Is A Warm Puppy

Remember the Charlie Brown happiness book? You know, the one with Lucy on the front hugging Snoopy? I love that book. I still own it actually. The book  summarizes life and what it takes to be happy. In case you don’t remember this little jewel here is a few ”happiness” entries:

Happiness is an “A” on your spelling test. Happiness is finding someone you like at your front door. Happiness is sleeping in your own bed. Happiness is getting together with friends. Happiness is climbing a tree (little known Joyce fact: I am the 1974 tree climbing champion of 8 Joseph Ave). Happiness is lots of birthday candles (OK, I’m starting to have a love/hate thing with this one). Happiness is one thing to one person and another thing to another person. Why don’t you take a moment and think about what simple things make you truly happy? Not happy? Hug a warm puppy like the book says. I sometimes think we over complicate things when its really the simple stuff in life that brings lasting joy.

Marci Shimoff has a great book out on happiness called “Happy For No Reason”. She studied happiness in great detail in order to write her book. Apparently, we all have happy set points:

50% is genetic, 10% is your circumstances and 40% of your habit of thoughts and behavior.

Marci asked her father what his best advice is and he said, “Honey, just be happy.” We can choose our reactions to life’s circumstances. It boils down to focus. I have worked diligently on this for years. I used to be really impatient. My mom says I have one speed: fast! If I had to deal with slow people I would feel my blood boiling. These days I control my reaction. I now think, “These people were put here to be slow in front of me for a reason. I wonder what it is?” Or, I use their slowness as a five minute little mini-vacation for myself. The mental shift helps me cope and keeps me happy. Again, its focus.

Albert Schweitzer, 1952 Nobel Peace Prize winner for his “reverence for life” said, “Happiness is the key to success.” I agree with him. If you are not happy then what’s the point? Spend the time necessary to assess where you are at. There are the day to day annoyances like driving behind a slow poke and then there are the bigger choices we make that might need realignment. Where do you stand? It will pay off in increased health, longevity, relationships and success if you proactively correct what might be wrong. As we mature we sometimes realize we went down the wrong path that no longer works for us. This can lead to the need for drastic actions to correct the situation which is uncomfortable and frankly, scary sometimes. In the end though, if you are brave  and committed to living your ideal life you will risk the actions necessary. Its not always easy but in the end its the right thing to do. Life is too short to live it half way!