Scaling Your Business with Tiffany Romero | #MVCON19 Austin
I just, fit so. Good. I'm. Gonna totally. Give you a permission right now to shut, your computer I'm. Not gonna say anything that. You need to really take notes on if you have questions, after the fact you. Can ask me but. Give. Yourself a minute right now a couple, minutes to be present, we're gonna talk yes, about scaling your business but. We're also going to talk about how, do you keep your sanity and, your, family. And, your, home and, your life in order while, you do that because. A lot. Of times we, start a business and, all. The sudden, the. Hours that we're using to keep the business are when we usually are supposed to be sleeping or doing. Other things and, many people in this room are not getting enough sleep but. We'll talk about that um oh I, obviously like this sweater. I'm. Guessing, I've officially, decided this is my brand j.crew, if you're out there I probably, need a couple more um I. Like, like. Looked at the slide and I was like oh wow, yeah, different, necklace different. Necklace what am I gonna do for jewelry. Now that forever 21 is closed I'm. Not sure um, so, these are my partner's Danielle. Francesca, and myself when, I. When. I first started, six girls back in 2008, it. Was a community, for bloggers I had been looking online I had started a blog and, I could not find anybody I was googling mom bloggers and like the same crappy. Five people came up over and over again so I'm. A summer camp director, by trade. I guess you could say I yes I still run a summer camp well I do sway um. And so, my immediate thing was okay people want to be connected like let's figure out how to do that in a positive way so I, started my blog three months later I was like hey I'm gonna do a huge giveaway it was, a summer, it, was a summer, survival, giveaway, and it was a bounce house and, a. Digital camera and, a. Blog makeover, and I'm telling you we had hundreds. Of vloggers show up from out of nowhere to. Join sits girls which really, became something cool because the, first, week one of the blogs that we featured was scary mommy, isn't. That crazy, like Jill was like one of our first and she was just starting out with the rest of us and now that's like a huge site, and, it just grew the whole idea was you get featured if you. Support. Other women and that, has been the, idea all along with everything that I've done and. Then that turned into how we gonna get together and see each other in person and so. You guys are gonna be blown away at, my naming capabilities, it was called cetacean. And. It was in Vegas I, should be naming nail polishes for a living I know and. It was so fun we all got together and I realized okay this is a need so then it turned into Bloggie boot camp because, people. Would maybe know what it meant also such a great name, what, it was and what it meant and, so. That, turned into sway group so, these are my partners when I look at this picture I always, think of the same quote, which you.
Probably Wouldn't, think that Lauren Conrad, was like a, feminist. Visionary. But she is in. Recent, radio, interview, she was asked, by like this really cheeky, male. Radio host what, is your favorite position and she. Said CEO and, you. Know what those are the girls were raising and. This. Picture I always think of that when I look at this picture because we're not three CEOs by. Title. But we're three CEOs. Okay. This is what we're gonna start every. Single, time I speak this is where we start, I'm. Gonna go ahead and apologize to the men in the room I usually speak to mostly, two women so, I paga and let you in on a couple secrets, of. Women, in general we're gonna be like wow really um, but. We, sometimes have a really hard time for asking what we want we're. Very concerned, about what everybody else wants, and how we can fill the needs of everybody else but. I have to tell you if you're here today and you spent the money to be here today and you're, puttin time away from your family or your. Favorite. Restaurant. Or your. Roller, derby hobby, to, do this you. Need to know what you want and it's. Not the next one soar blog post, there's. A bigger, picture, what, does this, effort and energy. Leading. To and. We're. Gonna talk about how, we're gonna plan that out. People. Used to say I'm, me included what's, your five-year plan, okay. You're talking to somebody who got knocked up at forty. Surprised. And. My. Five-year, plan went, out the door so. I have a 19, year old and, a. Three year old. Same. Husband, I, that's. The first question I always get they're. Always like oh is it the same husband I'm like yeah. You. Should have seen my fifteen year olds face when we told him because. That was like oh. So. Good I wish I'd taped it it wasn't such a good moment um but. Really sitting down and thinking about okay yes in five years I want to be independent. And dependent ly wealthy in five years I want to be working four hours a day in five years I want to be making $200,000. A year whatever. That five-year, goal is great. But. We need to break it down to 18 to 24 months because. Things happen and, life. Changes, and it. Is so okay. To. Decide, one day when you sit down to do this and we're gonna talk about it you, know what this isn't the this isn't the goal anymore I think. We you get very committed, especially. As women as we've put time and money into something we. Have a really hard time letting it go even. When it isn't fulfilling, our purpose or, our passion, or all, those key words the, people like to throw around when. Those aren't being fulfilled anymore. Where. We get nervous like we failed, changing. Your mind and pivoting, in another direction is never. Failure, it's, knowing, yourself is, knowing your life circumstances and, it's responding, to, what feels right to you, so. There's things that you need to consider when you're making this plan finances. What, are you spending.
What. Are you making I like. To set this up in almost like an Excel. Where. You have like. Across the top. Finances. Staff products. Opportunities, lifestyle, and then. Down, the bottom what, are the dates and what are the specifics. That we're gonna hit so in finances how many of you guys know how much it cost you every month to do what you're doing okay. That's really good three years ago no one raised their hand when I asked that question it, is, super, important, that you know how much of this is costing you not. Only how much is my hosting, how, much is my VA but, how, much is my babysitter, how much is the preschool, how much are all the things that I'm paying for to do for this because those should account into, it when, you think about going to a conference your. Budget should include your parking, and the gas and everything that it's taking for you to get there, how. Much money do I want to be making this. Is important, to know how, much money do you want to be making every, month and what. Are the streams of income that are gonna get you there because, multiple. Streams of income is the future, if you're not already doing it, start, thinking, about what, other ways can I be leveraging, this platform, leveraging. My expertise. Leveraging. All I mean, there are so many things that you guys have in this room there's not really a degree, in influencer. Right. In college, yet. But. It is in this room I mean if you look at the amount of hours that have been put into understanding. SEO. And, photo, photography. And the backend of things you guys are experts. What. Does your staff look like how many of you pay someone, to. Do work with you. Okay. Great, again, three years ago that would've been really minimal we're, gonna talk more about that products. How many of you have a product line and ebook, anything. Okay. Okay. Good. If if, those, are things you haven't thought about yet I highly, recommend considering, what. Kind of webinar could I do what kind of ebook could I write how, can I scale this business, this, blog into. Making other money I took a blog and five. Six. Seven ten eight. Years later I am, partner, at a multi-million. Dollar company and. I. Didn't have my degrees in history you guys I don't, get one. And tell your kids not to get one either, especially. At USC, come on. But. Seriously you, want, to think about where, how, does this blog work for me how does this Instagram account work for me how do I make more money those, are products opportunities, speaking, collaborating. A book etc you. Would be shocked at the, ability to get a book deal if you already have an audience, because. They're not given money anymore, for. People to promote their books you. Can self-published, now what. Does that look like do you have enough blog post. You have enough information is, there a topic you wrote about enough to turn into a book even if it's an e-book a how-to book, do. You have, people. That you could be collaborating, with to do online webinars. About photography, or. People. I know I know a couple personally, that lives near me that, started, a a. Webinar. On how to build a blog and they were so smart they went straight to Instagram and Facebook Ads and they're making over $200,000, a month I. Know. You guys like hunting the wrong business they, put that up knows like what just. Happened, in here they, got smart they saw the door they went in early and it now works for themselves the webinar just gets washed over, and over and over again and then they have add-ons, and then they have personal coaching right now. Speaking. Is not for everybody and. I don't recommend that you do it if you're not comfortable on, stage like, if you're not me. The people in this room have heard me speak before I know I so this is like I still love it I still love it um but. There, are so many opportunities out there even if it's just to sit on a panel how, can you start getting yourself out there to be seen as an expert so that you can push the product that, you're creating to get you to the goal of the income and I may be assuming, everybody's, goals income, I. Fbom. Love, money I love, it and I, think women should be more open about talking, about it and about being. Really, clear, that money, actually, should. There should be no guilt attached to taking money unless you're like selling. Like puppies, you stole but, besides that. Money. Is like a great thing and we should not only be charging, each other we, should not be giving, guilt to each other when we're charged. Right. Can, I tell you yes. Your. Your. Work has, value and, when someone says can I take you for a cup of coffee so. You can teach me how to be a blog or you say my rates 100 dollars an hour let me know when you're available that. Is the answer, because. You guys you're giving it away it's. Being given away every day so this. Is what gets left out in most business plans and I think that's because a lot of times men develop business plans again, I so.
Love My husband I'm, not a man basher, however. Running, a business as a woman seems. To me I haven't been a man I could. Pass life possibly, but I don't know now no I know, what it's like to run a business as a woman, and it, seems to be different I'm just going to put it out there it seems like there's a little bit of a difference so, what I will say is we leave out lifestyle what. Does my life look like well I'm running this business because. They fits 12 hours, of work, and at work, on the blog and then six hours of work at home and then. Two. More hours of helping with homework that. Isn't really a lifestyle, plan. It's. A hamster wheel that gets you like pneumonia. I'm. Pretty sure so, what does your lifestyle, look like please don't leave this out and I have to tell you guys if, you're, married, if you're in a relationship and you have a spouse or a, boyfriend, a girlfriend a partner whatever it is that. Lifestyle, needs to include time with them it is, the number one thing that is being cut out of. Life. When, we take on these businesses we're, cutting that first and I, will tell you I've been married 21 years and, it. Is so, important. To your success that, the people in your house are on board and so. We're going to talk about more about what it's like to get them on board but, if your business plan at home if one if you haven't done one please go home and do one but. If it doesn't include what your life looks like for me I don't want to work more than four hours a day most days I find. That it's just best. Um. Hey. Listen have a goal right dream, big, um, what's, holding you back there's. A lot of things holding a lot of people back in this room we're gonna jump into them um, is. It fear are. You. Scared, that if, you. That. If you do this it's not gonna work it's gonna fail there's too many people already doing it. I, haven't. Had success before I, don't. Know where I'm gonna get the money, I, don't have support doing. It my husband will never agree my wife will never agree, all, these things right they come up as a list finances. Is it money when. I start, a Bloggie boot camps education, when I started cetacean, I did. Not tell my husband. He. Is a very, big saver type person I like to say if if we weren't married I'd be living in Paris with really great shoes and he'd be living in the same apartment with, like five million dollars in the bank. But. We're a good match because. I helped him come out and he helps me like bring it down. But. What is what is the finances look like I went to a hotel and I was like okay I'm gonna have a conference you're like okay that's a three thousand dollar deposit. Three. Thousand dollars he, will never agree to three thousand dollars so, I am NOT saying you should do this I just want to tell you my story um I. Had. A credit card I always thought having my own credit, card separate, from everything else would be a really good idea in case I had to run in the middle of the night I, watched, a lot of after-school, specials. Um. My. Husband is a sweetheart. But. You know they always tell you like I have something for you okay. So I had this credit card and I was like okay and. I. Really told myself I said if I lose this $3,000. Like. It's gone like I don't sell the tickets and it's gone what happens like. Realistically what, happens is my husband is pretty pissed maybe. We don't go on vacation, but I wasn't gonna take food off my family's table right like, I was not it was a risk but it was not a risk, that would like. We lose our house over, so. I paid the $3,000, and I'm telling you if you've never seen someone hustle, I was selling, those tickets. Like my, life kind, of depends, on it right, like I was like oh you guys gotta come you gotta go anybody in here that when Katie. Oh, yeah, it, was great it was a great day. We, had a really good time and I I. Was so glad I did it I think I broke even on the first one and then.
I Decided hey we're gonna turn this into a series I'm gonna travel around the country and. By. The time, it, was, established I, only. Charge $100, for the tickets and I did, them so cheaply, I'm telling you guys some of the hotels I mean, I think at one point they were like a roof leaked on us it, was not fancy, but I wanted, it available to people who. Could, get a yes of a hundred bucks they didn't have to stay overnight it was local we. Went all around the country and the. Tickets could mostly, cover the expenses, and that, by the third year was making like a hundred thousand dollars in profit which, is pretty great and I. Remember, that first check that had like more than three zeros I laid, that. On the counter and I was like yes and he, walked and he was like, like. I know. Still. Has no idea about the credit card I have never told him and I've. Never invited, him to hear me speak ever probably. Because I just dropped the mf'er, he'd. Be mortified, um. But. That. Is, that is what happened, I did it I hustled and I saw a need and I stayed true to my brand and it's totally doable so. Finances. Could. Have held me back and I made a decision on how much I could a risk, I could afford to take, relationships. Okay this is a this is a really big one because I feel like most women are actually this is what they're held back from. And I. Want to tell you that. Relationships. Are. Vital. And. I. Think. We assume a lot of things about people that were in relationships, with that aren't true. There's, a lot of times there's an assumption that our partner. Wouldn't. Want, us to take, on something else a lot of times there's an assumption that our partner, wouldn't. Think that we would be successful, that. They wouldn't be willing to take on more work and. That. That, is true in some cases I have to tell you that most, partners, and I'm gonna say men just for husbands. For the, majority, of people in the room I have. Found that most. Would very much like, to help and support they, just need to know how, because. Saying to your husband, I need your help we'll. Get you the dishwasher, emptied maybe right. That's like the universal. Code oh and then you walk in like I said I need help he's like I emptied the dishwasher and. You're. Like. Okay. Thanks, um, so, this is what I recommend I recommend you, sit down and write out what, would actually be really helpful for you that he could do, he. Just needs specifics. He. Cannot. Read your mind and then. You're mad when he doesn't it's. Like so crazy to watch myself, do it um. And this. Was a very big wake-up call for me and changed, our whole marriage in the whole dynamic, and he was so on board when. I really, said okay what I need is for, you on Sunday, mornings, to take my. Son to the park for four, hours and I'm gonna get all my content done like, whatever. That looks like for you that's doable I'm, telling, you you will very, likely get, a yes they will be so happy to be on board and helping. They want to see you succeed they, they want the money to, they're. Happy to see you succeed, so, there. Is another little piece to this that we probably need to talk about for I don't know maybe like 10% of you in the room you've. Asked, for help, you've. Gotten, help but, it wasn't, done right. So. Guess. What people, don't come back for more help when, the first help wasn't right so if that's you if you really are honest with yourself and you think oh god I do reload, the dishwasher, after I ask him to do it or. You, know one time I was gone and, my, husband is amazing, he he was fortunate stays six weeks off with my son, 20. Years ago so he was able to really get dad on early, and then with my daughter we both works from home and it's been crazy, crazy, great. But I have seen pictures of her dressed only in a onesie at. The, mall where. People could see and. I'm. Like do I say a word I do not because, he, is the dad and he is the one who is who is with, his child, not to babysitting, he. Is the one with his child at that time the decisions, that he makes while I'm not there are his decisions to make I do not comment on them her life is safe right. For. The most part. Outside. Of us being like you, know ridiculed. By neighbors for addressing, her like that and then he can't do her hair like those. Are just the two things I see pictures and I'm like mm. He's. He, says his hands break her little rubber bands, so.
He Just puts in like 50 clips. That's. Good um so. Relationships. Also. Come down to the Facebook groups you're in if you're. In a Facebook group that you don't leave you, don't feel. Good when you leave, please. Get, out of it immediately, like. We did high school I, don't, need any notes in my locker like, this is not you. Should be around, like I feel, I was talking to last, night I think it was Brandi and I I we, were talking about boundaries. And that, one of the best gifts of being in your late 30s and, early 40s is that you figure out boundaries. And you, are so you're amazed at what your life can be like when, you stop saying yes to everything, and that, you you give yourself boundaries of what you're comfortable doing and not comfortable doing and those, are so important, if you have a friend that is not out of their mind, excited. For your success, they. Are not your friend period, they, are not and, if. Your family, isn't out of there you're mine success, like your sister-in-law, or whoever, it may be I'm just nothing. Personal. You. Limit, interaction. You you say to yourself what can I safely do, with, this person, because. Some people we don't wheat we can't always cut everybody out completely, but we can't keep ourselves safe with boundaries you. Know I I. Don't engage. About. Stuff like that. And I think it's really important if. You if you I had a woman when I spoke about this a couple, months ago and she. Raised her hand in the middle and she was crying and she said. I am so grateful, my husband provides, such a wonderful. Life. I'm. So grateful and I feel so guilty asking. For him to support, my dream and I. Looked at her and I said you. Can be grateful, and have. No, guilt attached, to that they are two separate, feelings, you. Can be so grateful, for the people that show up in your life but not feel bad when you don't give them a job which we're gonna get to because. That's a whole nother story but. These relationships are, important, and I encourage, you if you we. I actually encourage a family meeting if you have kids that are older than four they. Can sit down with you and you can say okay mom. Needs help with her work and they. Can take on jobs like understanding. Office hours how many of your family knows your office hours at home. Okay. That is the number, one thing that changed my life they. Know that mom is not available, that door is closed I even had a sign when my son was little he. Knew, not. To come into that office I remember. One time he, was. Crying silently. Because. I was on the phone yeah I think it's sad but I mean he got me home I was home, um. He can't have it all, I got. A raise grit resilient. Kids with grit. Silent. Crying is awesome. My. Daughter is more like the type that walks in just shuts your computer and stares you down in, the face but. It's really important, that you this is this matters, this isn't just a hobby it's. Really not stop, treating it like one, you.
Deserve Office, hours you deserve, time, you deserve time to create you, deserve money you deserve all these things but you have to go get them, they, don't just come to you you have to go get them, and. And imposter, syndrome this. Is like a new buzzword and I think it's so great we have a word for it now because everybody, here really does have it I am so confident, you guys like I was born confident. I don't, even give credit to my parents, because my sister is not so. She. Would die if you ever had her microphones, that get on stage she'd be like I will know I will like slide, down a razor blade into acid before I get that microphone and I'm. Like give it to me I would. Walk around my house with this no joke, I really. Would I think. There's a reason no one's gotten one for my three-year-old because they're like yeah that no mm-hmm, um but. I think it's really important to talk about it my imposter syndrome is my weight I, will. Stop. Myself because. I think that people can't, won't. Take. Advice, from, someone who doesn't have their weight in control that. Is the story I've told myself because. Society's, told me that to be honest that I'm lazy or, that I'm not a hard worker all those things right and I have been having my whole life outside of swim team in high school and I. Don't know if anyone else was around for a phen-fen but that. Was a good year I met. My husband that year you probably won't be surprised to know he's. Like why are you taking those pills I'm like oh to keep my weight down he's like you don't need them I'm like watch. Hold, my drink, so. So. That. If for me I you, know what I do I have, to say i honestly do this when, i hear it creepin I, say. To myself stop, talking, about your friend like that, stop. Talking. About your friend like that I am. My own best. Friend I am my own best advocate, I have to look out for me and I. Have to take. Care of my mental. Well-being and, self I also have a super, hot husband which helps. Because. Like, look at him like you can't be that bad like he's so hot um, whenever, I have like a girl I call, them girls when they get nasty their women otherwise but, if. I have a girl get nasty, online to me I'll be like my husband is so much, it's. Like the little story I tell myself in, my head but, whatever it is that gets you through but look your posture, at syndrome, in the face maybe, you don't have a college degree maybe.
You Don't know how to code, maybe, you. Just. Started. Doing this maybe. People are older than you maybe people everybody else is young there's every, one of us has something mine. I just feel like gets. Decided. Right away because, you know every, model, that we see of an empowering, woman, like. Online, who's. Like selling, her deal she, also sells, like in CrossFit, or whatever, and, that's. Just, not me like Kim earlier, today she was like I mean I said I'm like can you believe jail is 50 she's like yeah but like if you had a trainer and you had I said if I had a trainer I would talk them into drinking with me it has nothing, to do with money money. Has nothing if I have, enough money to be skinny if money is the problem like. It's not the answer so. What I have to do instead to say this is still piece of me that I'm working on and own. It and say this is a journey I'm still on it hasn't been perfected yet will, I have, a great body one day, maybe. Maybe. Yes, I already do thank you, that is the voice. Yes. This body carried two babies. And. Edit. So, write down when you get home what is my imposter syndrome because if you ignore it it's holding you back, your. Your it's a silent voice in your head that you're pushing down and pushing down you have to look it straight in the face and in my opinion and say I'm not today, today. You're not getting me and just take it day by day but stop, the voice in your head don't talk about my friend like that um, is scaling, the right move I told, you guys about blog you boot camp we. Were bringing in profiting, 150 thousand dollars a year splitting. It to weigh 75 thousand dollars a year to dude show up five times that. Didn't need to scale right. If I, had started scaling that business I actually would have ended up making less and there is a time that I feel like that's worth it if you can sell down the line making. Less money now is worth, it but I didn't see that as a possibility. So eventually. Things. Change just people weren't sponsoring. Conferences. Like they used to because there were 700, of them and. You, know we let it go and that was fine but. That would not have been the right business, to scale because. We were doing it just fine, and. The profit was enough so, everybody, might be telling you oh you got a scale what's next what's next if you're, if you're meeting your, quote, goals or your lifestyle, is where you want it right now. Congratulations. And I mean that sincerely we. Don't always need to be on to the next if, it's. Working, right now sure, think, about things might pop up Aaliyah I could do that I could do that but, if you've got a nice thing going that's allowing you the time and freedom that you want and the money you. Don't need to stress about making, it bigger it's not always better so, while I am scaling, right now and have skilled my business from two employees to 30, I'm. Telling you some days it really sucks it's not it's not for everybody it's not always the right move so think about that as well, the. M word money. I think. Channing Tatum smells like money I've, always wanted to find out I don't. Know I mean maybe it's because like Magic Mike the money on him I don't know but I just have this like like, feeling, I love it I just love it it like drives me I'm not good with it. Spending. It but I love, I love the chase of it I love, like when you're like oh yeah the check came in oh yeah it hit the bank I just.
Love It it's like such a drive for me. All. Right partnerships. How. Many of you guys in here are in a partnership is anybody because I don't want to spend too much time okay a couple. Of people um how, many of you are in partnerships, with people that you're in a relationship with, also okay. So those are so, a mine my husband and I own a summer camp together we, run it together that. Could be its own whole talk am i right, the, people doing it it is a whole different set of circumstances. But um. This is all I'm gonna say about it since it's not a big thing people might approach you to become partners back in like probably. 2011. All, these bloggers, were jumping on LLC's, together and S corp still like do something, don't. Do that. Like. Those are those are actual businesses, that are like real what you want to do is have a joint venture or an agreement between. Two corporations, you don't need to be on it together because you're to unwind, that is a lot, you. Want to make sure that you have very clear expectations. If things fall apart what. Happens, and you. Need to do those why you get along right. You can't decide that later so, operating, agreements, these are all just things to keep in the back of your mind if you get approached you want an operating, agreement that says hey, if this dissolves, this is how much the party's percentages. The parties take this is who owns the domain this is who owns the cut whatever it is that's. Really important. I had. Five there, were five partners when sway started there's now three. One. Was very easy very quick. The. Other was. Heartbreaking. As all I'll say and took a long time with attorneys, that cost five hundred dollars. And. Took. Months. And months and months and, the. Operating, agreement was there, but, somebody, can decide that the operating agreement doesn't match what they feel is. The. Right solution and, so, then the operating agreement is what ends up being part of mediation, or whatever you go through all. I. Want to say about that is. When. It first came up that it wasn't gonna be easy I almost backed out of the company like I just I, would my heart was broken I was hurt and I, remember, the attorney said to me like this is business, you. Let the attorney handle it and you keep doing your job and that's what we did and we. Made it through and it, was fine and I'm so glad somebody, told me that because. I had. No experience with, anything like that and I thought my god lawsuit. Oh my god court and you, just you get an attorney that you trust and you keep working you keep moving towards the goal and you let them give you updates and you let them handle, what, you don't need to handle that's what you're paying them five hundred dollars an hour for. Investors. Does anyone here have investors if you want to raise your hand anybody interested, in getting an investor okay. Um we. Have always gone the route of no investment, because, well. I'm a control freak and so are the other two chicks hold the company with me um. There. Are definitely, the right kind of investors, that come in quietly and. You. Know give, you some money and help, you get going and then there are like, private. Equity firms that like want spreadsheets, and. You're down to the penny so, you want to be really, thoughtful and definitely. Get outside, consulting. If you're gonna go that route. Loans. Is probably. For us. Something. That we decided not to do, however a, lot, of people that I know were able to get loans from family because to go to the next level you, often have to have some money in hand it's really, hard to hire people when, you need them, if you don't have some. Funds available, because you need the people before the work has to be completed right so, that can be tricky and you, might, have someone in your family or friends circle you can say hey would you be interested in, a, loan or interested in investing, and and you might get a yes I'd. Be very clear with the expectations. Of that and. Even. Though they're friends a handshake isn't what does it you get a lawyer involved you have both sides get. Counsel a line, of credit is what we did so. A line of credit, is. Such. A great tool because you it's there when you need it but, you're only paying, on it at least in our circumstance, you're only paying on it when you use it and what. We did was we went I, highly. Recommend, I hope. You all have business bank accounts, outside of your personal account but, that you bank locally, at. A credit union or a bank local, where you can walk in and meet with the bank VP, that's.
What We did and we, were able to secure a really, significant, line of credit that has saved our ass a number. Of times when, you're in a position where you have to start paying other people or you need to bring. In merchandise, that you need to pay for before, it's sold a line, of credit is a great way to do it yes we put up our houses for collateral that's pretty standard if, you don't have money none of us were worried about you. Know the loan being called the line of credit being called in they, give you time but, I really recommend banking. Locally, and going, in and meeting that person taking, them to lunch telling them what you do because it's, a much easier yes, I mean like at a chase or Wells Fargo it's not gonna happen totally. Different ballgame um. I just. Want to touch on investing, in yourself in your business people talk about this a lot. Fasten yourself you did invest in yourself and you 100% need to invest in yourself but. What I'm seeing a lot of lately is people. Women. In particular. White. Women in particular. Spending. All this, money to, go to like a one-day. Event that's, all about empowerment, in like the Staples, Center or like some big place and. It's. It's, a really expensive ticket, to have someone tell you like you're. So great. Go wash your face. That's. All I'm gonna say about that I. Know. Some people are with me on that I feel. Like I don't I, I I've. Heard this quote recently, and it said stop, stop. Following, people, who have never been where you're going and, I. Was like that. Is, the best piece, of business advice, I, could, give to anyone just starting out. There. Are people, who are selling, books and selling out theaters, and whatever that, always, had money. They. Were rich before, they did it that's. Not most, people, same story, so. I think it's really important, that you find if you're looking to really invest in yourself like, a business, coach, find. Someone, who, has, a similar journey to you and has, already done the work I can't tell you that owner of business coaches I see I can't, find anything they ever actually did. Business-wise. Like. I'm like what what you, started a successful business. Coaching business I don't I don't get it. You know you want, to find and seek out people and and I think. I think there are definitely really, great coaches. That are men but I think if you are a woman and you can find a woman, business coach. There's. A there's, kind of more of an understanding in. A lot of ways of what when. You when you start a business you don't suddenly stop, the rest of your life as a woman like, you don't stop being a mom you don't stop being the. Person that drives to school or whatever it is in your family whatever, it is in your family this, just gets added to it right and so I think it's really, important, that when you look for a business coach. One. You have to look at the money III a, blogger what I was talking just like yeah it's three thousand dollars a month and I was like okay Wow what, are you getting it's. You you've got to be able to say. Three, thousand dollars a month if you're upping, your game to, the point of making six thousand dollars more a month hell yeah that, makes sense but. Just, jumping, on it, just. Because you've you've heard it's what's next or you need the help you, really, really want to take time and ask for recommendations. For. Other people, because, just. Seeing like a Facebook ad or hearing. A speaker, and then you, know hiring them which, you can totally hire me. But. It has to be a fit I'm not everybody's, fit I'm definitely, not everybody's cup of tea right like, if you don't want cursing on our call it's probably, not a good fit, because.
It's Gonna happen but I, think that really. Think about okay what is this conference gonna cost me from, parking, to babysitting, to time away from my kids and we were having a conversation last, night in the bar and we, were talking about how time just leaves why were on Instagram right and I said would you spend less time on Instagram if you if your hourly rate is $100 an hour and you're, spending two hours a day scrolling, Instagram if. You. Started looking at it that way you would stop doing it because. Your time, is so, valuable if, it, is not feeding, your, family, your. Bank account or your soul the answer is no period. Every. Single, time, you. Ask yourself, with I don't care if it's do you want to be room mom you. Don't. If. Any of you have older kids you know everybody, is like punching each other in the face to be a room mom in kindergarten, and by fifth grader was like no. Thanks, but it's, everything from will. You host the auction this year all, the, way to, you. Know scrolling, Instagram, whatever it is like if it doesn't, feed, your, family, your bank account or your soul it is no and start. Doing it with every decision even. People, who ask you to lunch, because. Spending. Time at lunch with someone you kind, like. Not. Worth it because you think like oh if I don't maybe, their kid won't play with my kid it doesn't matter your kids are fine they're. Navigating their own friendships, without you believe it or not probably. Better than you are. So, just, start, asking yourself these questions and, valuing, your time and we, have to stop reacting. To. Everything, take. It in and make a decision, instead of a reaction, right. Like I live, with a teenager I have. Learned to go. Instead. Of, like. There are two different reactions right one is a reaction one it's like oh this. Is new this. Is new okay, what. Are we gonna do how do I don't smart him and I make it like not about me and like about okay what's the next step like what's this game him and I are playing teenage, chess. He's. Coming at me with everything he's got, like. Yelling at me for a dent in the car that he put there this. Is good stuff like this guy's magic. Right. And instead, of losing my mind and reacting, because I'm so tired I'm so overdone I can say oh okay. Mom. Needs let me I need to think about this I want, to be very thoughtful, before, I talk about this with you and then he's like. But. It's really great so I think that really. Thinking about what you want and making decisions without who. Do I want to be in a year you, will spend so, much more quality, time with your family and so. Much more time doing what you love and feeling unstressed, if you, just stop saying yes to everything that. Doesn't suit, you if it. Doesn't get you to making ten thousand dollars a month if it whatever the goal is if it doesn't get you an end by the way getting. A trip to Disney isn't a goal I'm just gonna put that out there you earn the money and if you want to go to Disney for fun you go but that is not like I gotta get this okay, we're not doing that anymore that's like so 2010. Um. You. Want to have these conversations with, yourself in your head and slow down, not, every email needs a response in an hour and stop. Saying you're sorry when, you don't respond in an hour, you. Need time to think I do, not keep my email on all day I check my email every two hours because. Otherwise, I guess so or distracted, I never get anything done people. Can wait a second. Give. Them your best self by giving yourself time to be present when, you make a response, your, kids would much rather have you present for an hour than home all day like on your phone half-ass in it they, really, really would when I'm with my kid I put, my phone down and, I get on the floor and I play and that's what she's gonna remember that's. All she really wants and then, she knows when mom's doors closed cry silently how. It works. All. Right building your dream team how many of you guys are thinking about you're in a position to hire somebody you're. Feeling ready okay. All. Right the first thing you want to write down on a piece of paper not right now I can send you this I want, to keep your attention on me obviously. Um. If. I didn't have to blank I could, spend more time blank. The. First blank is what you hire for the second blank is what makes you money there.
Are Certain, things that only you can do that, make the money right, there. Are certain things that take your expertise, your creativity, your, eye whatever, it is those. Are the things you keep the. Stuff that that doesn't need you that someone else could do if you're making $100, an hour doing. Your beautiful, photography, spend. Twenty fifty I live in California so it's like $100, an hour on a VA but, spend. Twenty dollars an hour on someone, that can do the things you don't want to do because. You, will, just free up so, much time, and I think somebody maybe already talked about, employment. I can't remember but I. Really. Recommend that you hire first. Them, as an independent contractor, check. With your state check with your attorney, but. An independent contractor, just means hey you're gonna do this work for three months this, is what it looks like if at the end you can play at least say hey the contracts up thank you so much for your work and move on if you, hire them like a full-blown employee you've gotten like into yourself into this whole. Thing of letting. Them go and, unemployment. And, all these things so make, sure it's gonna work and hire, them as an dependent contractor um. We're. Not gonna hire our sister-in-law. Okay. Because, she needs a job and, she's. Kind of good at taking pictures on Instagram. One. And. This is coming from someone who my sister has worked for me for the last 15, years in various capacities however. As women. We tend to think if we find some success it's our responsibility to, bring everybody, along that, we've ever met all. Of our friends that are like oh my god you, need someone I need a job could I just do this and then they want to work like 10:00, to 1:00 right. And and like do all the things for you I highly. Recommend at least until you get really good at hiring you, do not hire people that you really know um a, casual, acquaintance, that you see as a hard worker my partner Fran we did not start out as friends we. Were bloggers, and I was doing buggy boot camp and she was like four months pregnant and she was working. The room for me what do you need how can I help you knows like this is what I need I know, my skill set one they can't want a microphone because that would be ugly I need to have all the attention all the time too. I can't, make a list and follow it worth a crap why. Can't. And. Scene. Um. You. Want to hire for all the things that you're not good at it's common sense you get it I really, though I feel like I is. There, so. Many women that, are hiring like friends. Or a neighbor or oh. Yeah my my, husband's cousin needs a job it is not your job to employ people that don't have a skill set that you need at. All it's, not your job and if they don't want to come to your house for the holidays after that okay. That's, best for everyone isn't it. So. What you're what you're gonna do is look for someone, that has, the skill set you need. Interview. Them ask, them. To give you a sample, of whatever the work is they're gonna be doing so you can see it like if you're having someone who's gonna edit for you you need to make sure that they can edit right, if you're gonna have someone who is running social media for you you want to see what. They've done and, you. Can find people to help you with that stuff but you definitely it's more than just a gut feeling I really. Like you you don't even need to like really love that they need to have the skill set that you don't have i really. Recommend to in the startup, type business like wasit's it's 20 employee or said sway group it's 20 employees we, are all scrappy. AF like. If i need to fold boxes, I'm folding boxes, if she needs to you. Know run to Target and get the supplies for the shoot she's doing it we, all understand. It's a buy-in that yes we have our jobs but, overall our main job is that swea group is a success, and that takes all hands on deck because. Running. Your own business when you start to have to feed other people's families, like that's on your mind it gets it keeps you up at night and so. Hiring the people that. You feel like are bought into your culture and you should be very clear, on what your culture is before, you hire anybody to what. Is the expectation on, the weekends what is the expectation, what's. The pay gonna be for. Us we found that. Women. Who have children who, are elementary, school-aged, are a great fit for us because we.
Can't Necessarily, pay, as much as they could get in the marketplace but they can work from home and we a hundred percent support, every family activity, no question, you. Want to be room mom you need to take Thursday off to go to the play there's no question, there's, a dentist appointment there's, no question, and that, is of so much value, to them the support, that we have people have to cut their pay in half to come work for us because, it's, that important, to them, is, anybody. Here like wondering, about him actual, employees and health benefits, and all that kind of stuff I'll talk really quickly about at the end because I wish, I had known more and I do know now so I'll share that at the very end. Human, Resources I highly, recommend, hiring. A part. A, contractor. Who does Human Resources to conduct your interviews for you before you interview them it's. Just one person who can do it hourly, and get. Through people and say these are the three people that I think are really the best fit and it, also it saves you so much time and, they. Know what they're looking for too if they're good at their job they'll ask you very specific, questions and then they'll design interview, questions around it if you need the name of somebody I have someone who is amazing. She. Has a. Master's. In industrial psychology. And she's fantastic. How. You find the perfect person and promoting, within promoting. Within is one of the biggest challenges. I think for small businesses, because. People. Will be really great at their job and then we just promote them but. They're not ready or they don't have the skill set to manage other people managing. Other people is a really, set. A really, specific set, of skills. That most, people actually don't have with especially, if they haven't had any training so. I would be and it can lead to hurt feelings and, so I think a. Very. A, very. Open, conversation. With a person who you think might, be wanting, the next position to say hey these are the things I would need to see before that happened it's, totally appropriate it's. Totally, appropriate we. Don't promote people, based on how long they've worked for us because. It should be based on skill, and you might have a new employee who's got the skills and and, I think that if you run a company with transparency. And fairness people will understand, it and if they don't and they leave that's, okay too, sometimes. That's really hard for us to take that someone, left our company it's okay it. Happens sometimes, not everything's a fit. Alright, this is my last slide. We. End let me end good um, I, want to give you a couple things to think about the first is called Vistage, is anybody here in Vistage, okay. Vistage, is a professional. Group for CEOs, and, key, men so c-suite people or business, owners I'm. Gonna start by telling you it's pricey however. It. Is so, worth. The investment if, you can do it you. Meet, once a month with other CEOs, and, local, people who own businesses where you live and. The. Information. That I have, gotten from being in those meetings in my particular meeting, in San Diego there were people that were ceos of twenty million dollar companies, all. The way down to people that were CEOs of million. Dollar companies, and, the. Information, that the CEO of a 20 million dollar company, has is, worth. Sitting, in the room and they ask really hard questions. And they really, keep you on track to your goals and your business needs and it's just a really great place. To. Talk about now I will say there aren't a lot of women in the room when. You go sometimes, I. Was. I was at one and we, had a speaker and the speaker was talking about. Decision. Fatigue and. How. You. Know when you come home from the office and. Your, wife asks, you what you want for dinner you. Can't even answer her because you have so much decision, fatigue and I.
Was Like. Let. Me tell you about decisions. And. Then we had a very enlightening, conversation about. The decisions your wife has lightly lightly made that day including do I get involved with the bully on the playground, do I talk. To the teacher whose. Dentist appointment is tomorrow there's. A lot of decisions that are getting made in a day and the last thing she wants from you is I don't know when it comes to dinner and you know what he was very he. Was I mean the whole group I'm sure was just like oh there she goes the angry woman. But, you know why it's my job to call that out if I'm if I made it to that room it's my job to change the culture in that room and get them to think it, really is and. After. After I said, my TED, talk. He. Said you know what my. Wife came to hear me speak two weeks ago and when I got home she said, exactly the same thing and I for I haven't, updated the presentation, and you're, right it's going in tonight when I get home and I was like good because. It's not it's. Not one-sided, however. Your life whereas my husband's a stay-at-home dad he, was an LAPD detective I, know super, hot. For. Years and then he left, that so I could follow my dream. And, I. Will, never either could never be more grateful for him for doing that and he. Also got, the benefit of coaching. Baseball travel, baseball which takes a ton of time in, spend those years with my son and it, was a family decision we took a six-figure, pay cut to make we moved out of California, to do it it, was the best decision we ever as a family we, stopped, running the rat race and we decided, we were gonna live off a certain income so that we could be together and then. I you know exploded, and became famous and rich and it just kidding I'm, just putting it out into the universe a. Fractional. CFO, CFOs. Are expensive, to have on board however, you can hire what's called a fractional CFO, it's, a CFO, that comes in and looks at your books once a quarter we would. Not be in business how do we not brought in a CFO, we did not understand.
Well, Enough money, coming in money going out liabilities. All these things. So, there, are some really great ones there's also an, influencer, on Instagram, she goes but I love like lovely, financials, I've, met her in person, follow. Her on Instagram, and if you're looking for someone maybe who's not quite a CFO, level but, just to help you with your expenses. And income consider. Hiring her she. Is, great. She's. Yours. Okay. Hello Maurice it's her she's great right I met, her at a conference and I was so impressed and so blown away and, even her Instagram, is just helpful the stories that she does but she helps you stay on track financially. She's like a financial coach but, if you're running a business that has like employees. And. Income. That's coming in and out a fractional. CFO I highly, recommend if. You need one you can also feel free to email me um. An accountant, an accountant, that understands. Your business most, of you have done that by now just. Keep with it someone. Should be helping you with what you can write off and you, know I love you food bloggers have your cabinet, with just your ingredients. That you write off. Make. Sure you have one of those social made simple I always love to plug a female. Entrepreneur who's a small business social made simple is stephanie Mullen every. Month if you're in her subscription, she, gives you a month's. Worth of Instagram. Content, to, use in any way you want on your blog on Instagram it's professionally, done images, that just have that great. Look it's wonderful. Particularly. For, people who are like real estate agents, hairdressers, people, who want to be on social so if you, guys are doing social dentists. Chiropractors, I, know a lot of you guys do social for people like that this is a great way to keep their content, going in it not always being about their business it's, a really, great tool, in. Spera, t if you're, looking to give your, there's, two in spera t intranet, are the two I'm familiar with if you're looking to give your employees benefits. 401, K we were able to get health insurance through, it it, was amazing, it does cost, money but they do everything, for you and they keep you updated on HR, laws and. You basically go, in and end up as kind of an employee of theirs but you get your health insurance you get your 401 K I. Have. Life insurance I have all of it through them which, isn't something we we would have been able to offer when we were a much smaller company I talked. A little about lawsuits, support, system, having. A support system is so important, I'm. Gonna really try not to cry I know. I go from like highs to lows you, should try living with me um. When. I was 37, and my mom was 57.
She Died at her desk at work and. I. You. Guys um but. It. It stopped, me dead in, the, middle of my business and if, I had not had a tribe I hate, that word not I don't need is that word if I had not had a group of people a support system to. Be. There for me and to keep my business going I would, have had to start over. You. For, those of you that have been there that have experienced, a loss like that that just pulls, the rug out from under, you. It. Is so important. That, you, have, things, in place people. In place even, if you're a photographer and, there's another photographer you know and to, say like hey would, you be interested in, doing something like if I ever need, you just, have a sheet ready with passwords, and everything to give them because I'm telling you your life stops, and you, cannot, see in front of you and to. Have your business people are happy to do it they, want to be there for you in that moment and I. Do want to say this too about grief as someone who's in business, people. Are always like oh throw yourself back into work that doesn't work for everybody and I. Needed six months, I know that sounds like a lot I, wasn't. Myself and, the job in the role that I hold in my company, is very. Much of a, leader. And someone, who they can come to and someone who they know is present, and has tough conversations. And I was not able to do that and so. They, gave me the grace and time to back, out of the business, and. Then I got you know knocked up and it's to say how much happier version, of an unexpected, life experience, but, I took four months off when I had my daughter and that. Is a luxury, it shouldn't be but. It is it's a luxury in this country to take four months off and my. Team was, happy, to step in but. I do think, you need to you, need to surround yourself with people and have a plan have everything, written out your, editorial, calendar, like who, you use for what passwords. So that you can print that and hand it to someone so, that things can keep going and you. You will get back your life will come back I promise and, and. Give. Yourself, the time but really shitty things happen to great great people and you want to just know in the back of your mind you're prepared, for this business to keep going does anybody follow Lindsay's, letters, online. Yeah so her daughter fell, recently, and has a traumatic brain injury and her life, has obviously had to stop and it has been so moving, watching, her team come. In and continue, her business and that's. Why you have a team that's why you pour, into other people, that's, why when you have a small business people are more than a paycheck and why you remember, their birthdays and, you you, cheer.
For Them when they have babies and all those things because we need it you, see this is not an island we can function on alone I. Talked. About No thank you I just want to say it again right. Family. Bank. Account sole, it's. Know my. Friend Danielle she has a great one if it's not a hell yeah it's a no right. So, last. Thing asked. For what you want. Every. Day ask, it of yourself asked of everyone around you I'm gonna ask you for something I want if. You, thought this was helpful, I would love a review, on LinkedIn I have, to rebuild my speaking career after, taking three years off with a baby and I, really, need the reviews to help me get more gigs if you know of anybody doing an empowerment. Women's. Empowerment or somewhere that you think I would be a good fit I would love your recommendation. So. I'm gonna ask for it that's. It so. Thank you I appreciate it. You.