-
I am returning from the Moms in Business Unite conference in San Diego (we, Psi Bands, won an all-expense paid trip from Boogie Wipes). From that conference I learned many things. Over the next few blogs, I will share some of those relevant tips with you.
Maria Bailey shared the following three business tips that she learned from successful entrepreneurs:
1. Where’s the exit strategy? A tip she learned from Steve Berhard of Blockbuster
If you don’t have one, develop one. If you fall in love with your business without an exit strategy, you may be making choices that are not going to help you accomplish your end goals.
2. How do you make money when you sleep? A tip she learend from Michael Eagle, Alamo Rental Car
In other words, your business needs to run even when you are not running it (including while you are asleep at night). Ideas to help support this tip: online sales, staff, sales force.
3. Don’t be afraid to share your ideas. A tip she learned from Maxine Clark, Build-A-Bear Workshop
Certainly be mindful (weigh options for patents and NDAs), but if you are not willing to share your ideas, others can not help you.
Maria also shared the following business tips from her own experiences:
1. Women don’t ask for enough money.
Before you make a financial decision, ask yourself what a man would do. If you are not comfortable in giving yourself the value you deserve, have someone on your team who is comfortable in this valuation represent you in these transactions.
2. When you are with your children, be present.
Even though you might have to take a phone call when you are with your children, when you are off and they are asking you a question, look at them in the whites of their eyes so they know you are truly listening.
3. When others want to partner with you, ask them for an action list.
Once you start showing signs of success, others will start flocking to you. When they show interest, ask them to create an action list and get that to you. Then wait and see if they follow through. If they don’t, they were not really interested to begin with. If they do follow through, then maybe this is someone you want to partner with.
