#46 – How to Build a Million Dollar Business Part Time

By Kathy Korman Frey for the series Building a Million Dollar Part Time.

Do you think it’s possible to build a Million Dollar Business while working part time (the premise of this insider’s series within the Hot Mommas Project blog for business junkies?)

Welcome, my home slices, to a new (or renewed) belief system.

In yourself. 

The short version: If you want to Build a Million Dollar Business, Cameron Herold is the man to help you do it. If you can’t afford Cameron in person, then just buy his book Double Double and his DVD sets based on this and his first book: BackPocket COO. (And, for the jaded… no, I am not Cameron’s sister or something).

The long version: Entrepreneurs are basically nuts. You’ve got to be to handle the ups, the downs, the doubts. But it’s tiring. After leading, innovating, fire fighting, and getting up the next day and to do it all over again, there is the desperate need for guidance, structure, and an answer. Cameron gives entrepreneurs that answer. To that, many of you will say:

&*$^#@ finally!

Read the rest of this post on our main blog, HERE.

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#44 Pimp Your Pitch – 10 Words to Turn Bo-ring into Cha-ching with Sam Horn- Building a Million Dollar Business Part Time

DO PEOPLE DROOL WHEN YOU TELL THEM ABOUT YOUR BUSINESS? (But, not in a good way. More like a catatonic way.)


Have you ever told someone about your business, and they give you the “doe in headlights” look?


They may even look at you like you’re saying this:


Solutions Start NOW

In this post, you will learn along with HotMommasProject.org as we undergo messaging bootcamp.  Gone will be the days of the unsavory reactions above!

Enter, Sam Horn

Below, legendary “Intrigue Expert” Sam Horn uses the Hot Mommas Project as a guinea pig and provides six tips that all of us can use to revise a pitch.

Read the rest of this post HERE.

#42 Stress Solutions, Drag Queens, and Putting Fun Back in Business – Building a Million Dollar Business Part Time

By Kathy Korman Frey

Today I watched performers from RuPaul’s “Drag Race” show on a reality show “The Arrangement” which is about floral designers.  It’s basically Project Runway meets flowers.  You know what struck me, in addition to how gorgeous these drag queens were: They were having FUN. (Please note, blue dress is Gigi Levangie Grazer – a noted screenwriter and author who hosts the show).

So here’s what drag queens have to do with me: I realize I’m not having  fun anymore with my business.

Read rest of this post HERE

 

#41- “If My Head Explodes, You Guys Need to Hold Down the Fort” – Building a Million Dollar Business Part Time

By Kathy Korman Frey

I think I’ve finally discovered the ultimate delegation plan for women: Your head explodes.  If your head explodes then, clearly, you are other otherwise occupied and the people around you have to start doing things that you previously did. Right now my head is at risk of exploding. I am unsure if these are real adult-onset migraines or if I was too overwhelmed some revenue projections I ran last week.  With the two brain cells I have left, I started delegating stuff to my team since the headache seems to be moving in like John Belushi, the over-stayed houseguest in the old SNLs.

Note: Building a Million Dollar Business Part time is the Hot Mommas Project “insiders” blow-by-blow series recently moved to our main blog.

Here is how it’s going (the delegating, that is).  Click HERE to read the rest of this post.

#40c-On dealing with business crisis

"I'm still throwin' the HEAT!" Kenny Powers, Flama Blanca

 

By Kathy Korman Frey 

So, here’s where the last post ended:  In the copy room at Funger 315 I realize my Powerpoint presentation displays as Gobbledygook,  I have no workbooks (“printer warming up”), there’s a lobby full of attendees downstairs, and I have two minutes until I’m supposed to begin speaking.

Oh, yeah, and a bunch of the folks in the audience are social media folks.

This failure is about to go viral.

8. 58 am With the Gobbeldygook presentation pulled up on the screen in the copy room, I text downstairs to my team and said,

My txt: “Does the PPT look normal?”  

Team txt: “It looks fine!”  

Whew.

8.58 am I can wait no longer. 

 My txt: “Someone needs to come up here to wait for the workbooks with the security guard.”  

I figure I’ll  give the intro, and pray the workbooks are printed and brought down as I’m talking. If  they don’t print, I seriously don’t know what I’ll do. Oh wait, I know:

Shirley MacLaine Freaks Out in "Terms of Endearment"

8:59 am I walk out of  Funger 315 and head downstairs to the lecture hall. The printer hadn’t even started, but Sis U must go on.

9.01 am When I step into the lecture hall, everyone is seated. Their backs are to me, and I see what they are viewing at the front of the room on the large screen. The WRONG presentation.  It’s dated June 2010.  So when my team was texting about the presentation that “looks great”…it was not the right presentation. I am not quite sure how this happened, and, at this point I don’t care. Action mode continues.  

9.01 and 30 seconds: I go over to the camera guy, “How much additional time do you need to set up?” I ask. A delicious five minutes of time. I feel like a character in a video game (sound effects) “By stapling papers in the hallway earlier, YOU earned FIVE bonus points to cash in with the CAMERA MAN!” (Sound effects)

9.02 am I make an announcement in my calm Stepford voice,

Me: “Welcome to Sis U! We need about five extra minutes while the camera finishes setting up, so please, relax, chat, and here’s a little music for you!” (Smile, hiding inner panic, of what I will find on that Powerpoint). 

9.03 am  From the podium control panel, I blank out the LCD, and look for the USB drive in the computer menu. It’s not there. The USB with my presentation is not showng up. I remove the USB from one socket (or whatever you call these things) and plac it into another. Bingo. It shows up. 

9.03 am and 15 seconds. I hold my breath and double-click the document to open it. Will it be Gobbletygook? One of my adorable team members tries to ask me something and I respond in my robot voice, “Can’t talk. Crisis mode.”

9.03 am and 30 seconds. Cha ching! The presentation comes up and the fonts are readable. I quickly page through the presentation, all okay. They are not perfect, but they are readable.

9.07 am I fire back up the LCD screen, look at the camera man – who gives me the thumbs up – and turnoff the music.

9.08 am

Me: “Welcome to Sis U! Today, you are participating in a pilot where you will engage in exercises, learning never-before shared.  Our goal is to produce measurable results for your career in three hours.”

I know I can handle it from here if my team walks in with those workbooks. I keep on with the intro.

9.18 am My team walks in with the workbooks. (dot, dot, smileyface)

I breathe a sigh of relief. A big one.

So – fast foward: Ultimately, Sis U was a success and exceeded my and my team’s expectations in terms of results (measurable results). Here is a fantastic write up from WUSA Community Content Producer Leigh MacDonald (@NiceShuzNoDrama) and LiveYourTalk.com’s @JillFoster

But in those moments, where I was one step away from severe failure, I was not confident about success. And afterwards, my knee-jerk reaction to chaos or disappointment is always to say, “How can I prevent this from happening again in the future?”

1. You can’t. One viewpoint is that I CAN’T prevent all crises in my life and work. They ARE going to happen. Accepting myself as an imperfect person, who cannot manage everything into perfection like a cyborg, is a big part of my learning here. I just breathe into it, feel happy it turned out okay, and know that I can survive this…and probably other things that will surface in the future.

2. Time management. When I first thought about this crisis, I was convinced the “answer” was time management.  Ideally, I would have done everything early, tested the PowerPoint, had the workbooks printed days before. But, in reality, I had – perhaps – one spare hour during the week. This is not to make excuses.  This was just reality. I ask you, what should I have said “no” to of the below items to give myself extra prep time? The White House Council for Women and Girls Conference, my two classes launching that week, my husband’s guys golf trip (planned to coincide with a music fest in Austin).

3. Delegation. And, of course, the zinger of all lessons for me here is “delegation.”   If I did it over again, I’d have people I trust involved earlier in the process. I cannot cap my own business by my limitations as one person. I need to EXPAND my vision of the business, and I believe that more people and partners is the way to do that.

 

Parting Thought: Is Your Business Fat or Thin?

A local business owner down here has described the “Fat / Thin” theory with business. He says, “Sometimes you business is fat. You have a surplus of staff and you are waiting for the business to support them. Then, there are the thin times. You’re spread too thin and need to hire staff and bulk up to handle what you’ve got on your plate.” This experience showed me that, despite the ultimate success of the event,  we’re in a thin time.

#25b – Pat Lencioni Trust and Conflict Exercises for Teams, Women in Business

Pat LencioniPat Lencioni started his talk with a story about parenting and how it relates to the management of teams. He echoed a key theme mentioned by previous speakers Bill George and Bill Conaty: TRUST. Trust in business? Huh? Trust the evil empire? But, Pat focused on PEOPLE in companies. He discussed five areas of improvement to build teams. But here, I want to focus on Trust and Conflict: Two issues I see surface repeatedly with women finding their way in both career and life. Continue reading

Building a Million Dollar Business Part Time #11: Top 7 Low/No Cost Stuff To Use In Business

The alternative title to this post is, “How to fake like you’re a big company” or “Running it lean and mean.” Let’s get right into it since I’m on vacation in Vermont.  One little story, then onto the top 7.

(Note: See past posts for our long-standing, co-dependent relationship with coffee. Nintendo recently rejected a sponsorship request from us. Starbucks MUST be involved in some way. WE ARE SOLICITING ANY AND ALL IDEAS FOR SPONSORS FOR OUR CASE STUDY LIBRARY, KICKED OFF BY OUR COMPETITION OCT 13.)

Intern for the Hot Mommas Project? Now that's a man confident in his masculinity.

Intern for the Hot Mommas Project? Now that's a man confident in his masculinity.

Hey everyone, welcome Achin to The Hot Mommas Project! He is a George Washington University MBA student. Here, he holds the Indian equivalent of Starbucks.  He is in India right now and will join us in the fall.

 

 

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INTERLUDE [Samba music plays, rudely interrupted by “You are My Friend” the horrific Barney  themesong]

Setting: The Posh Frey Honda Pilot (recently downgraded from an Acura MDX as Kathy has a gripping phobia of investing in depreciating assets).

Location: Driving from Lake George (our rainy-day plan) back to Vermont (our vacation location, where there is nothing to do in bad weather).

Josh (my husband): [Seeing a shirtless, blonde Grizzly Adams looking hitchhiker] “Hey! Let’s pick him up.”

Kathy: “Ha! Yeah.” [Pause] “Well, we do need to start looking for a new au pair.”

Josh: [After passing shirtless Grizzly Adams] “He could have been a good one.”

Kathy: [Feigning “interested friend” voice] “Your new aupair is so great! Where did you find him?” [Feigning response] “Oh, we found him on the side of the road one day on vacation.”

Josh: [Feigning response] “Yeah! Just south of a federal correctional institution in New York! No problem.”

And so goes the cost-effective search for a new au pair for the Frey family.

END INTERLUDE [Barney Theme song ends]

P.s. Did you know there is a full-on anti-Barney trend? Riveting.

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This is a really odd, tangential method of transitioning into the Top 7 Low/No Cost resources for businesses (no, we will not suggest you pick up Grizzly Adams hitchhikers for subsidized staff members):

1. Advice. Advice is the best free thing you can get.  How to get good advice:

– KNOW WHAT YOU DON’T KNOW. If you are someone who thinks, “Oh, I’ll just figure it out” you’re in trouble.  I’ve noticed the willingness/ tendency/ propensity in certain people to spend 5 hours on the internet searching for something versus 5 minutes on the phone solving the problem.  I make sure my interns don’t do this (see item #7). I have a list: “STUFF I DON’T KNOW THAT IS CRITICAL TO THE SUCCESS OF THE HOT MOMMAS PROJECT.” Then, I search for smart people who can help me with those issues (see next item).

– HOW TO GET A NETWORK: Social media allows for relationships never before available to folks outside of the right schools or social circles. Go to www.Alltop.com to see who the players are in your industry. If they’re blogging, you can reach them.  I have also seen entrepreneurs benefit tremendously from EO (forum) and like groups. Personally, I have relied on all of the above plus I have specifically sought out role models/business luminaries I admire and am in varying stages of contacting them/working with them. For example: Ted Leonsis, Bob Prosen, Guy Kawasaki, and Stewart Friedman. The latest are Tim Ferriss, Chris Brogan, Robert Scoble, and I am trying to get in touch with Gina Bianchini who co-founded Ning with Marc Andreesson of Netscape.  Based on this, Esther – my right hand woman – approached Senator Lieberman (whom she idolizes) at the movies, told him about the Hot Mommas Project, and is emailing with him. Go Esther!

– EXAMPLE: I posted the following on Twitter the other day

how atrocious is our website? We need free help for exposure. anyone? www.hotmommas.org

2. Low Cost Web Templates. I thought I was all cost efficient using the $5 GoDaddy template when I first took the Hot Mommas Project online.  Good: It’s cheap. Bad: It sucks. As we became more tech-savvy, I realized: a. It was pathetic-looking and b. It was incredibly slow  (shared server, not dedicated server).  Here are some resources suggested by Frank Gorton (fgorton on Twitter), who is a social media expert and worked with AOL and Monster.com, among others, during his career:

– http://www.wordpress.com –  Good templates, says Frank.  Even though I am doing our insiders blog on wordpress, I didn’t realize that you could use a wordpress template for your whole site (click here for Hot Mommas Project non-insiders blog). Frank recommended this to us based on our needs at this stage of the project (Nutshell of our project: Building world’s largest women’s case study library. Kicking off w/ case study competition launching October 13, 2008. Read more here.)

http://www.templatemonster.com– Frank told us about this, and Achin (new intern) had heard of it too. I have zero time (as I am doing this part time, have two kids, and yada yada) and really need to rely on others to cut through the mess and act as the social media Consumer Reports for me.

http://www.ning.com. Everyone thinks Ning is awesome (“awesome” word count from past 2 blog posts: 3). You can start a community for free using their software (with a Ning address), and for a nominal fee use your own address. It was founded by Gina Bianchini and Mark Andreesson.  Here is a cool video c/o Robert Scoble.

3. Low Cost “Other Stuff” for Our Site. Aside from the basic “how to pimp out your blog” items (see first post reference to Seth Godin’s article on this), Frank specifically noted the following beyond the basic widgets and RSS stuff:

www.Vimeo.com – get a free account and build video content. Frank suggested we film our Hot Mommas Project case study protagonists to connect people with our educational tools and take “role models on paper” to “role models on film.” We had dreamed of doing this for a long time, and were even approached by some Hollywood folk, but this is quick and does the job.

www.Brightcove.com – Here are some syndication products from Brightcove (think “Alliare” – inventors of ColdFusion software).  This could be useful if the above (Hot Mommas video case studies) are a hit or there is other content we want to syndicate (like our research on best practices in work life balance).

http://www.Twitter.com – Twitter – it’s everywhere. Frank suggested having a Twitter widget on our site would, again, humanize it and help connect people with our cause: Providing academic tools to serve as role models for women and girls (Cool Daddies beta – too!).

If you’ve ever gotten an email from Guy Kawasaki, here is something he uses that he lists as part of his signature: SpinVox(will convert voicemail to email). You can also usually find lots of fun widgets on Guy’s blog.

4. Low Cost Developers and Designers.  Achin, our newest addition, found a developer in India to convert our whole site onto a blog template if we don’t have the fortitude to do it ourselves. Frank uses a developer who charges him about $12 per hour. Contact Frank (fgorton) if you want to know who this is. Here is who Achin found for us: http://www.compose.co.in/.

P.s. Re Designers, I’ve heard of folks using eLance. I use Brad Imburgia who developed the Hot Mommas Project logo. I also used our interns to do some work. (see #7) I’m sure India also has designers.

5. Low Cost and Professional Sounding Phone System. In love with eVoice (I’m pretty sure these are the eFax people). Husband knows the guy who runs Got Voice Mail, also.

6. Low Cost and Professional Looking Printing. Big fan of Vista Print. If you plan far enough in advance, can be UNBELIEVABLY cheap.

7. INTERNS. This is a biggie, so, if you do not care about interns stop reading now. When thinking low or no cost, my personal favorite is interns. My favorite place to list them is at GW’s career site. You can also integrate your post in with NACElink which lists nationally. I also have friends who have used Craig’s list (under part time or your industry). In 1 or 2 years, these interns are going to cost someone $40,000 to $70,000 plus benefits. So, why not receive help from their fabulous brains NOW. I have had to learn to do the following to be successful with interns:

– LIST AT THE RIGHT TIME.  Think student. When are they looking for internships? Post in between January-April for the spring semester (by May you’ve probably lost them to finals). Post by early August for Fall. Post in the Fall before Thanksgiving for the Spring semester. I cannot tell you how many business owners contact me during finals in May and say, “Can you tell your students about this internship?” I give it a 1 in 100 chance at that point.

– BE GOOD AT TRAINING If you suck at mentoring, or don’t have the time or interest, don’t bother.

– HAVE AN “IT” or specific thing they can do.  There is no such thing as too much definition or clarity. Consultants, project managers, and individuals who think this way can usually easily get their brains around this.

– HAVE A WAY TO MONITOR the “it.” I discuss this in an earlier post. It is easier if you have done a good job setting a clear goal or “it” (mentioned above). I am CONSTANTLY adjusting this based on what I see in the person’s performance (e.g., If I sense they are overloaded, I stop sending lists of things to do and re-focus them a la “HERE’S WHAT WE MUST DO BY TODAY.” I will ask them to tell me, with hours by tasks, how they are spending their day…in this way, we work on time management together).

– HAVE SPACE FOR THEM. I have had experience with the student population through teaching. One thing I’ve learned is: It is HARD for most to work on their own and deliver what they say unless they are EXTRAORINARY. So, ixnay on the virtual/independent working.

– HAVE A COOL COMPANY NAME/INTERNSHIP NAME. We got infinitely more resumes with the Hot Mommas Project vs. Vision Forward. hot-mommas-internship-flyer_summer2008.

– SELECT GOOD ONES. I try to select interns where I see a minimum 1/4 ratio. That is, for every 1 hour I spend with them, they can do 4 hours of work. If I can combine several interns into the one hour, great, that is an exponential amount of work being done when everyone goes on their merry way to do a project.  A list of questions I ask is below:

HOW TO INTERVIEW INTERNS:

Interview #1: Phone interview. Min = 15 mins, Max = 1 hour

a. What drew you to the Hot Mommas Project? (Desired answer = They are interested in/passionate about the project. This is KEY.)

b. Tell us about _______________. (Ask about several items on resume to get a sense of  responsibilities). We ask about GPA if there is a problem. Below a 3.0 is a red flag (see “e” and “f” below).

c. What are your top 3 strengths? Draw from group projects, other internships? (We like to see social sophistication and a drive to succeed. If this is not apparent, we ask another question later).

d. What is something on which you’d like to work or improve. (We like to hear them admit a real weakness vs. some B.S. At this point we figure they are an over-achiever type anyway, a couple chinks in the armor show self-awareness which is ESSENTIAL for self-correction).

e. How do you organize yourself? Explain an example – beginning to end – using a major assignment or work project. (We like to see someone with an actual process for organization. If they suck at organizing themselves this means your tasks will not get done, as much as you may like them in the interview. You can turn a B+ into an A, you cannot turn a C or D into an A is our experience).

f. Do you tend to overextend yourself? (This is BEYOND CRITICAL for students who are doing MANY MANY things and often will get into the semester, freak out, then bail on you. Ask this up front. Dig a bit.)

g. What questions do you have for us? (We like smart questions, but, many are overwhelmed so we assign it to them for the next interview. We say, “Come with three questions to the next interview” if they proceed to the second round.)

h. Of the items I’ve described, what sound the most interesting to you? (If you have some flexibility and can match the intern’s interests to specific functions, you’ll have a greater chance of a happy worker.)

Interview #2 (if we ran out of time, but had a good vibe about the person, we’ll send some of the above questions for them to answer via email in between Interview 1 and 2).

a. What additional questions do you have about the project? (They should have been assigned 3).

b. What ideas do you have for the project? (They were assigned a “task” of coming up with 1-3 ideas to make sure they “get” the project).

c. Are you interested in the project (usually already apparent by end of first interview and email interactions in between interviews 1 and 2)?  (If we like them) Rate your interest from 1 to 10, with 10 being the highest. If not a 10, what would make it a 10? (Take notes to integrate into their job during the internship to – again – create happy workers).

d. (If we like them) We’d like to formally offer you the __________internship. (Discuss start date, weekly schedule, their ability to continue beyond one semester, confirming they understand the internship is unpaid, making for-credit arrangements, other logistics. WRITE THIS DOWN and make sure you EACH HAVE A COPY.)

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PARTING THOUGHTS: Gotta run, on vacation, need to go look for hitchhikers.