I recently attended the Boston Irish Business Awards Breakfast hosted by the Boston Irish Business Association and the Boston Business Journal last week. As I listened to the inspiring stories, quite a few of the honorees mentioned people they had met who were helpful to them as they developed their careers and businesses. They described how they met these people through common organizations or through other introductions. It was clear that networking had made a difference!

Networking is key part of building your small to mid-sized business

There is a reason why we go to events and spend hours standing, talking and listening to people we don’t know. But have you thought about why you choose one event over another? Here are seven reasons that occurred to me as I was listening and meeting the people sitting with me at the awards breakfast… Click here to read more »

Some of you might have seen these posts on TweakYourBiz.com and KaizenBiz.com but if you haven’t, allow me to share them with you.

When Your Small Business Isn’t Ready For You to Be CEO

You may have seen some of my previous posts here since I’ve been a regular blogger since 2009. It’s not an unusual situation for a small business owner to be ready for the next stage of his/her career but feel they have to put the brakes on their activities because the business needs their direct attention. When Your Small Business Isn’t Ready For You to Be CEO talks about the dilemma small business owners face when they cannot move to the next stage of their own growth. So, when is your small business not ready for you to be CEO? And how do you prepare it so it is ready?

Latest Ideas of the Future of Social Entrepreneurship

On a weekly basis, I host the Twitter chat, #KaizenBiz. (If you would like to see what this lively, thought-provoking and international chat is like, please join us every Friday at 5pm GMT/12pm ET/9am PT) We talk about all kinds of business ideas using critical thinking so we can enhance our skills and deepen our self-understanding. So this past week, we took a look at Social Entrepreneurship.

If you are not familiar with social entrepreneurship, it is is a subset of entrepreneurship with the emphasis on using business to drive a social change. It is not simply corporate social responsibility. It is a company that is founded with the intent to change the world. The 10th annual Skoll World Forum was held recently and there are some interesting ideas emerging. We decided to take a closer look with this framing post, Latest Ideas of the Future of Social Entrepreneurship. Do you see social entrepreneurship becoming more mainstream? What expectations are being created for social entrepreneurial ventures in terms of sustainability, creating customers and earning profit?

Let me know what you think by commenting here or on the posts themselves…

Ever since January, I’ve been seeing post after post about how the most successful people (read: leaders and CEO’s) get up very early in the morning. As if the only way to be a successful CEO, you have to be up at the crack of dawn to exercise or begin working or what have you. It might be true for small business owners and executives…and it might not.

The last straw

Margaret Heffernan’ s post was the last straw. Her  point was that leaders get up early because they are excited about what they do. They are fully engaged and not lazy. They use the early hours to exercise, think, plan or just enjoy some quiet time before their day starts. Now, you might wonder why I would ever want to rant about that?!

My rant is really simple…there isn’t one way to be successful. The posts that say that getting up early make it sound like that is the only way to build a successful company and career. However, the way you schedule your day may not even be indicative of laziness or lack of engagement.

Self-care is an essential piece of leading a small business

It is well documented that sleep deprivation is not just a few hours lost. Immediate effects include poor memory, trouble concentrating, appetite disturbance (higher tendencies to eat too much) and difficulty tolerating even garden-variety stress. Continued sleep deprivation is correlated to depression and mood disorders, attention deficit disorder, drug and/or alcohol abuse, increased likelihood of high blood pressure, heart attack or stroke plus cognitive impairment. Sleep deprivation and ignoring other parts of self-care can lead to burn out and/ or feeling trapped or resentful of your business. Not exactly the best recipe for building a sustainable business.

Use caution when reading advice

Yes, even my blog.

Normally I’m a big fan of Margaret Heffernan but I do wonder about her supposition that a leader might be lazy or disengaged. As small business owners, we have to be careful about what we read and how general the application might be. Some of us chose to start our business to maximize the quality of our lives. It does seem strange when you are working long days or worrying about finances that this is a better quality of life. On the other hand, control over our income, time and autonomy is in our hands most of the time. Some of us are parents, volunteers in our communities or simply want to create another way to do business and be successful. While we may want to be develop ourselves so we are better leaders and managers, it is important to remember that different things work for different people.

Working mega-hours doesn’t make you successful by itself

All those posts that got me riled up aren’t really about who gets up early or stays up late. It’s about what we do with that time. There are ways our time gets used up that make a work day seem far too short. Between making sure we engage with social media, do things that increase our visibility, network, do the work our clients hire us for and so much more, productivity can get away from us without a plan.

Some suggestions to keep yourself healthy:

• Even experts don’t have the answers that will fit you 100% of the time- We need inspiration, new ideas, fresh perspectives and education. However, notice how you feel about the advice you are reading. If it feels like something  you would never do, trust yourself.
• Remember you have physical limitations – No matter how much you love what you do, your body will let you know when it has had enough. Make an effort to eat well, sleep and take time away from the office.
• Create a schedule that suits you – If you are an early riser, a late night person or something in between, make the time work for you. Use the Pomodoro method for specific tasks and schedule specific days for overall activities.

Do you need to get up early?

Only you can really answer that. Use the early morning if it provides you with time to think, get moving or do a little work before the rush of the day. Conversely, if working at night allows you that necessary time for concentration, use that. When you read blog posts that tell you that the only way you are a “real” leader is if you do X, ask yourself if this is true for you. If you are not sure, try an experiment with the recommendations you read about.

There are many ways to be successful…design your own!

There are reports that the Irish economy is growing, fractionally, but growing. And there are reports that things are very bleak. The truth probably contains a bit of both.

Conflicting reports about the Irish economy and small businesses

• In February, 2013, the Irish Independent reported that small business failures dropped by 32 percent
• In March, 2013, The Irish Times reported that the services sector grew at a slower rate
• Also in March, 2013, Business + Leadership reported that in a IBEC (Irish Business and Employers Confederation) business sentiment survey, indicators showed strong  improvement in business confidence at the start of 2013
• In April, 2013, the Journal.ie reported that Davy, a stockbroking firm, revised its projections upwards for the Irish economy due to better performance and foreign investment
• In April, 2013, FinFacts Ireland detailed that “Half of all lending to SME (small and medium enterprises) business is in arrears, according to the Central Bank”

But I got curious and asked my counterparts and peers in the #SMEcommunity in Ireland. I posted a query on the Facebook page of the #SMEcommunity.

A few perspectives

Geraldine Kennedy : (Jerros) “I have a boutique in Birr and I am seeing a lift in confidence. People are still cautious but definitely more optimistic. We are seeing more people out and about compared to last year which was desperate at this time.”

Debra Harper: (Tús Nua Designs and co-founder of the #SMEcommunity) “From what I can see there is a lot of small guys emerging, a lot of bigger established companies struggling with big overheads. A lot of biz based from home. There is a real fighting spirit going on, its not easy but the desire to succeed is there. A lot of frustration around new government schemes, all the right language is used but they are not moving with the times, not taking into account that the emerging new biz are tech or digital so can not forecast as easily as someone with a traditional shop and stock.”

Ray Wilkins:  (TotalGiftz.com) “There is a change in the air alright, a little more positive than before, small businesses continue to struggle though and changes are badly needed to help these businesses grow and create employment…government need to listen to the needs of small business and stop overlooking them..then we will see a bigger improvement…desire,drive,determination are all there..government ignoring SMEs causing road blocks..unnecessary.”

Debbie McDonnell: (The Marketing Shop.ie) “There are still no realistic options for a small business owner who provides a service or is a sole trader. If you can create a product or you opt to become a limited company you can get more than advice. Frustratingly there are situations where an enterprise board in one region can provide a lot more than one a few miles away too so your postal address can work against you which is all wrong. I think our government are doing a lot of talking about what they’re doing for small business but I know so many with viable businesses that get nothing because of rules, many of which were created pre-recession e.g. innovation vouchers which were last updated in 2007.”

Not exactly bullish

 While this may be not a technically representative sample, their comments reflect the frustration and concerns shared by SME owners in Ireland. There are calls for the Irish government to create policies that support the business growth of indigenous established small businesses. With the overall Eurozone trending downwards  and mixed signals in the Irish economy, it isn’t going to be an easy ride but it isn’t impossible either.

What is your observation about small business in Ireland?

If you could get someone from the Dáil to listen to you, what would you tell him/her?

What do established small businesses need to succeed?

What makes you optimistic about the future of Irish small businesses?

iStockphoto image by Artsy

Four words that strike fear and make an otherwise capable professional unable to make sense.

What do you want?

When I ask this in a coaching session, there usually a release of breath and a nervous laugh. Then the avoidant answers come out. Formerly articulate people stop putting two sentences together. I have noticed that it isn’t so much that we don’t know what we want (yes, I’ve been struck dumb with this question too). We know all too well. We are dreamers who see ourselves making that dream salary, gaining recognition as a “go-to” person, serving our customers with excellence and living that satisfying life we crave.

Negative messages and negative experiences Click here to read more »

  For the KaizenBiz community, I wanted to give you an update about our site. It will be back. We’re moving to a new hosting company to resolve the current issue. It has been very educational, to say the least. The good news is the site will be up and running sooner than later.

Does Gender Really Have Anything To Do With Risk-Taking

I was reading a post on the Harvard Business Blog Network when I discovered Do Women Take as Many Risks as Men? The author, Doug Sondheim, noticing a disparity between the men and women he interviewed for his book. There were far more men than women featured in stories about risk-taking. So, he started to wonder why.

His original question

When he began his research, he asked, “Who, from your personal networks, would you consider smart, successful risk takers?” The referrals numbered more men than women.

What could be involved?

There has been quite a lot of research exploring risk-taking behavior over the years. So here is a quick list of some of the possible variables involved:

• Testosterone: Research has identified that higher levels of testosterone leads to more risk-taking. According to John Coates, a neuroeconomist, the cycle feeds itself through increasing levels of confidence which leads to higher levels of testosterone.
• Presentation of the risk: Daniel Kahneman and Amos Tversky discovered different levels of risk aversion due to circumstances and language used to describe the risk.
• Physically attractive, tall and strong: I could not have made this up if I tried. Researchers found that these qualities led people to be more likely to tolerate higher levels of risk. They also determined that women were more risk-averse.
• Stress: The findings find men and women take very different paths when feeling stressed. Men are more likely to take risks while women are less likely.

 So, what?

There seem to be some problems with the research. Most of the studies seem to focus mainly on men and  how they handle risk-taking. There also may be some mountains that were made out of molehills. According to Julie Nelson who reviewed literatures in statistics and cognitive sciences and reports that the differences may not be so stark as previously understood.

Please join us on Friday, March 1, 2o13 at 5pm GMT/12pm ET/9am PT for the Twitter chat, #KaizenBiz and add your thoughts about gender and risk-taking. Do we really admire the kinds of risks men take more than ones women take?

How do you define smart risk-taking?

What kinds of personality traits have you noticed in men and women who are smart risk-takers?

What role does culture have in supporting risk taking for men or women?

How do women demonstrate their risk-taking behavior?

How could redefining risk change how we evaluate and engaging in decision-making?

Like a lot of small business owners, *Sharon has been scraping by over the past year or so. Sales are slow so there is less revenue. On the positive side, Sharon has been able to cut costs without harming how she serves her customers. Plus, there are some opportunities that look good over the next few months. The downside is that she has to be more involved in the tasks she used to delegate. It’s going to be rough until she can spark a resurrection of her small business.

Test of leadership and your CEO Mindset

When things are going well, it’s much easier to do those things that leadership experts tell you to do. You can listen, keep  your emotions on an even keel and take time to plan and consider tactics and strategy. That’s not to say you can’t do it now but it takes far less energy in good times. One story I hear from small business owners here in the US and Ireland is that it’s the day-in, day-out of finding ways to maintain the business with dwindling resources. They are questioning if their businesses will last until their pipelines produce revenue and if the revenue will be large enough. These are resilient people but the length of these challenges is affecting their optimism and motivation. It’s hard to balance the long-term view with short term needs.

Growing your business is more nuanced than at first glance

Many times we think of growing your business as coming from a place of strength and plenty. This is true but not necessarily the whole picture. When your business performs feebly and you set up a business development plan, this sets the stage for a growth phase. After all, you only have two options — resurrection or close the doors.

5 Ways to a resurrection

1. Check your mindset. It has to start with you. One of the hallmark parts of using your CEO Mindset is acknowledging your emotions. Sure, you might feel angry, scared, worried, frustrated, de-motivated or uncertain. These are normal responses and avoiding them doesn’t make them go away. They exist, recognize them and know you choose your next action.

2. Controlled expression of emotions. In 2008, I wrote a post about using freak out moments. One of my clients was so aggravated with how her business was performing, she wished she could have a temper tantrum. She was half-kidding and we were in a private place so I encouraged her to do it. She didn’t even last 5 minutes. Write, draw or act like a two year old so you don’t inadvertently take it out on your staff or other people. Note – Since you are the leader of your organization, do this with no staff present and you cannot be observed.

3. Decide how much urgency you want to place on growing your small business. There is a difference between emergency and urgency. Emergency is panic and interferes with your decision-making. Urgency is just enough pressure to communicate importance and desire. Does your small business matter enough to you to make it work again?

4. Make a plan. Once you assign urgency to creating growth, it’s time to decide on strategies, tactics and goals. Start with what is currently in place (do a quick SWOT analysis if you’re not sure) to know what is possible. Identify your target customers, why they should buy from you and how your business is specially suited for them. Tactics are how you want to reach these particular customers and the goals are the specific actions that execute the tactics. Focus the time frame to no more than 90 days with scheduled reviews and include accountability partners with every goal so things stay on track.

5. Begin immediately. When you’ve recharged your motivation (and, if applicable, the motivation of your staff), take action. Make a phone call, write an email or whatever you are acccountable for. Focus on your behavior and choosing action.

Resurrection your small business takes commitment and time

Small things like a five minute deep breathing exercise at the beginning of your work day,  making one phone call at at time to trusted people in your network and keeping a to-do list from the plan will add up. Use your CEO Mindset to lead the resurrection of your business. You can hold your head high when you give it your best shot.

What tips or ways would you add to resurrecting your small business?

How can small business owners manage expectations as they lead this type of growth phase?

 *Name and other details have been changed to maintain confidentiality

About the author:  I’m Elli St.George Godfrey, a small business coach and trainer who guides established small business owners to be comfortable in their own skin. I have a deep appreciation for learning and understanding my client’s business style and culture. Whether you are re-focusing your small business or expanding in your own backyard or into another country, my 3 keys coaching process helps clients move from being excited about growing to having the tools to make it actually happen. Curious? Schedule your complimentary coaching session here.

iStockphoto by mycola

If you haven’t seen these posts, let me tell you about them.

On TweakYourBiz

This site is designed for small business owners. Since it’s based in Ireland, I often write posts that are useful to Irish small business owners. I recently had the pleasure of interviewing John McSweeney, project manager of Small Business Advice programme to learn more about this free service. If you are a small business owner in Ireland and would like to get some advice regarding a dilemma or opportunity, read Small Business Advice Programme- Interview with John McSweeney.

On Corpnet.com

With the new year upon us, many of us are looking at our strategic plans to see where we might go in 2013. It might be time to make a new friend out of a SWOT Analysis so you have the best data available for your plan. You can read why a SWOT Analysis Really Is Your Best Friend on Corpnet.com.

On KaizenBiz

Each week, I lead a conversation on Twitter in which we take a look at an business idea and delve a bit deeper. Before each conversation begins, there is a framing post to help guide the conversation. You can read the latest post, Negative Feedback and Performance: Can You Handle the Truth? (you are all welcome to join us any Friday on Twitter at 5pm GMT/12pm ET/9am PT. Just use the hashtag, #KaizenBiz)

I hope you’ll take the time to look at these posts and any past posts that catch your attention. Let me know what you think and continue the conversations!

I realized recently that I have never written a post entirely devoted to what is a SWOT Analysis. What?! The weird thing is that I have referred to SWOT analyses in various posts like this one or this one. This tool can help you design your strategic plan, objectively see how you and your small business are performing and even provide a few other advantages.

A straightforward tool

You wouldn’t mind but I encourage people to do a SWOT analysis every time I present my webinar, Living Business Plan-The Best Kept Secret For Small Business Success. (Typically, I recommend to clients to make it a part of their quarterly review.)

It sounds so business-y and arcane but it’s really a straightforward tool. The four parts of the SWOT analysis are: Click here to read more »

Given the ups and downs of the last two years with my small business, I have deepened my awareness of how important it is to celebrate small and big accomplishments. In my latest newsletter (there is a sign up in the right hand column of this page, if you’re interested), I wrote about how celebrating is tied to looking ahead and I wanted to share some of my thoughts with you. Click here to read more »