Is Work-Life Balance Actually Possible When You Own a Business?

Starting a business brings a lot of responsibilities and tasks that can quickly eat up your time. If you’re starting a business while also balancing home and family time, or a full-time job, it may seem impossible to get any true work-life balance.

Is it possible? Can you achieve work-life balance while owning and running a business?

Yes! It takes some changes to how you approach work, but you can make it happen! Here’s how.

Reflect on the Big Picture

If you’re struggling with your work-life balance, or lack thereof, the first step is to give yourself some distance and reflect on the big picture.

For many business owners, this reflection only happens when something significant happens, such as a death or the birth of a child, but it doesn’t have to take such a big upheaval.

Consider your sources of stress or dissatisfaction. How are the circumstances affecting your performance? Your happiness with your work or personal life? How are your priorities? What are you giving up pursuing your business goals?

Once you have a clear picture, you can take concrete steps to change them.

Delegate Wherever Possible

Small business owners are go-getters, which is great for getting a business off the ground, but not so great for taking on way too much. For many, the idea that “if I want something done right, I have to do it myself” can quickly take over.

Delegating can free up a lot of time, provided you can relinquish some control. Remember, it’s a choice to continue doing tasks that could be outsourced or delegated to someone else. This not only impacts your work-life balance, but as your business grows, it will pull you away from mission-critical tasks.

Take More Time Off

I know, easier said than done. But taking the appropriate time off is essential to keeping your wellbeing and work-life balance intact. Otherwise, you can quickly find yourself working every day and losing a sense of satisfaction with your life.

One helpful way to ensure you get the time you need is with a four-day workweek. With this approach, you can still be productive and make money with just four days, and you’ll be able to devote more time to personal responsibilities and leisure.

Set Rigid Hours

One of the ways business owners can get too caught up in their business is by keeping a flexible schedule. For traditional employees, they typically have set shifts, so they can manage their personal time.

When you own a business, it’s too easy to work 10, 12, or 14 hours without realizing how much time you’re really putting into it. You try to get “just one more thing” done in the day, and before you know it, you’ve worked far beyond a normal workday.

Start by setting a clear time that you begin and end your workday, even if you’re working from home. Remember, more time isn’t necessarily more productive time, and you’d be better served by sticking to a set schedule and forcing yourself to manage your time effectively.

Find Your Work-Life Balance

No one said running a business was easy. In fact, business owners typically work more and longer days than a comparable employee, but it doesn’t have to be that way. With some tweaks, you can find your work-life balance and still run a successful and profitable business.

Are you looking for some guidance with your business from a professional coach? Work with Allison Todd directly and see how you can reach your business goals!

Streamline These Services with SOPs

Your business will have repeatable processes, even if you’re a sole proprietor. On your own, you may be keeping a lot of information in your head, since you’re doing it all yourself.

Unfortunately, that can take a toll over time. You may do the same things daily, weekly, or monthly, but eventually, you may come to a point of wondering if you did what you needed to. Or worse, you may be wondering how you did it the last time.

Developing standard operating procedures, or SOPs, is an important step in building a viable business that’s ready to grow and scale.

What Are SOPs?

SOPs are outlines or checklists that demonstrate how to complete the repeated tasks that take place in your business, such as your social media management, customer service procedures, or other tasks.

They may not seem as important when you’re on your own, but as you scale, SOPs are essential to keeping your brand consistent and ensuring that everything is done on time and as efficiently as possible.

Also, creating an outline for repeated tasks helps you see where you can streamline your processes to save time. For some tasks, you may be creating more work for yourself because you have to start from scratch.

When you have SOPs, you have everything you need at your fingertips each time. You’re taking out everything that’s unnecessary, which is MUCH easier when you have a clear outline and plan.

Benefits of SOPs

How do SOPs help you streamline your business?

You can move faster through tasks, get more accomplished, and ultimately, earn more. You cut back on the time it takes to do the repeatable tasks your business needs, giving you more time to focus on mission-critical aspects of your business or to serve customers. In short, more money for fewer hours – who doesn’t love that?

You can bring on more team members and ensure that your standards are upheld. A well-documented process makes it much easier to bring on new team members and delegate tasks to them without concern for how it may impact your business or processes.

How to Create SOPs

SOPs aren’t as simple as they may seem to create. They take planning, coordination, and research to be fully functional.

Fortunately, there are numerous tools and templates to help, but here’s a quick breakdown.

Clearly articulate the vision of why you’re writing an SOP and what you’d like the reader to achieve.

Identify the reader you’re writing for. Identifying and understanding the audience ensures your SOP is appropriate for the employee and suited to their knowledge and experience.

Define the scope of the task. As your business scales, some tasks may overlap between departments, and this is where SOPs can get tricky. Before you begin, define whether the SOP will be general or specific to one department.

Choose the relevant format. Formatting is important in SOPs. Your general format should include:

  • – Title page
  • – Department, date, and ID
  • – Purpose statement
  • – Definitions
  • – Step-by-step instructions
  • – Additional information that’s relevant to the task

Let’s Get Started!

If you want your business to grow, SOPs are a must to streamline your processes and develop consistency across all employees and departments.

Are you looking for help with growing and scaling your business? Get expert guidance with experienced business coach Allison Todd! Work with Allison Todd directly.

4 Ways to Scale Your Side Hustle into a Full-Blown Business

Whether you started a side hustle as a passion project or you finally followed your dreams with your free time during the pandemic, it doesn’t have to be a side hustle forever.

Sure, starting a side hustle helps to bring in some extra cash, but what if you could do what you love full time? That can be a reality with the right planning and effort.

1. Research Your Market

According to Harvard Business Review, the best predictor of success is how well a business leader understands the market.

Is your project something that will still have a market in a year? In five years?

Here are some questions to ask:

  • Who is your target market?
  • Can your target customers afford your product or services?
  • Who are your competitors? Do they offer more or less than you? Have they been around longer?
  • Does your business have the potential to keep growing into the future? What do you need to make that happen as far as staff and overhead?

If you think your business can still grow and thrive in the long term, you can make it a reality.

2. Take the Necessary Steps to Scale

Many people take on a side hustle and keep their full-time job to increase their income. But before you can turn your side hustle into a full-time job, you need to know what steps are necessary to grow.

For example, maybe you started a small side hustle selling baked goods in your home kitchen. Do you have the setup to sustain a full-time business in your home kitchen?

As a business owner, you need to prepare for what you’ll need to scale your business, even if you hold on to your full-time job in the meantime. Whatever your dream is, you should envision your path to success and how you’ll attract and retain customers.

Consider things like:

  • Commercial space to produce or store your inventory and reach a higher volume of customers
  • Commercial-grade equipment or machinery
  • Employees you may need to hire to help you with the day-to-day operations

3. Create a Business Plan

A business plan forms the foundation for the future of your side hustle as a bona-fide full-time business.

Your business plan should include:

  • A business name
  • A description of the current target market
  • Competitor analysis
  • Cost analysis, including material costs, registration costs, staff costs, marketing budget, space rental, pricing plan, estimated volume and profits for each month, and a break-even point

Having a strong foundation can help you develop realistic expectations and attract investors to your business.

4. Seek Investors

Starting a business can be expensive, but investors can help you get a strong start. Your business plan is an essential tool to securing startup capital.

Consider options like:

  • Bank loans for small businesses
  • State and local grants
  • Small Business Administration loans
  • Crowdfunding platforms

Once you have the funding, you can get started scaling your business!

Keep Hustling

If you have a side hustle right now, you have the drive, passion, and talent to turn it into your full-time job and business. The road to success can be long and arduous, but strategies like these put you in the strongest position for future success.

Looking to scale your side hustle with the guidance of a professional coach? Work with Allison Todd directly! 

Contractors vs. Full-Time: The Small Business Guide

Contractors vs. Full-Time: The Small Business Guide

One of the most effective ways to scale your business is to grow your team. But that can be a difficult undertaking with several considerations before you even start taking applications or interviewing contractors. 

The Difference

A freelance contractor works for you independently and covers taxes on their own. An employee is an in-house team member that answers to you. You’re responsible for reporting their earnings to the IRS. 

You hire a contractor as a 1099 employee after the terms and scope of services provided are agreed upon, as well as the cost. In this role, you will not have control over their process, pricing, or working hours, unless these were stipulated in the agreement. 

This category would include:

  • – Freelancers
  • – Consultants
  • – Temp-to-hire
  • – Agencies

A W2 employee is usually a long-term arrangement where you provide consistent direction and supervision. You dictate their hours, their job expectations, and pay. For a W2 employee, you may also have to offer other benefits or insurance.

There is also no competition for their time. A contractor will have other clients and projects in the works that require their attention, whereas an employee is someone you don’t have to share. 

The Cost

Independent contractors typically get paid with a flat fee for any services rendered or deliverables provided. This is usually determined in contract negotiations prior to any work taking place. 

With a contractor, you’re paying for their talent and expertise. While you’re in control of your overall project, they will play a more collaborative role, like a consultant. As a business owner in their own right, consider them a partner in your business, not an underling.

For a W2 employee, you can pay an hourly wage or salary that fits within your budget. Talent that is interested in that pay scale will apply and may or may not negotiate pay. Keep in mind that when you hire a W2 employee, you will also have to cover any benefits, 401K, as well as cover tax payments.

Contractors will typically cost you more upfront with deposits and initial fees, whereas employees will require very little upfront but could cost you more over time. 

The Bottom Line

What do you want most out of this new team member? Do you want total control over their schedule? Are you looking for someone you can train up who will buy into your company culture and mission? 

Do you want exclusive access to their attention and talents? Are you hoping this person can wear multiple hats to take even more tasks off your plate? If you can afford all of the incidentals that come with an in-house employee, this may be the best path.

Or are you more interested in saving on hiring costs and benefits? Do you need more flexibility with short-term contracts? Is your need more immediate, and you don’t have time to train someone? 

If you’re not sure what you need or who to bring on, let’s chat! Helping entrepreneurs scale their businesses is my sweet spot! Book a consultation!

how to automate your business

3 Things to Automate in Your Business Right Now

Those menial, tedious tasks you hate doing every day? Automate. The technology to make your life so much easier is out there! You will boost your productivity and relieve yourself from the pressure of all the “to-dos” that you don’t really have to do. 

Let’s review my top 3 things you should automate in your business right now!

#1 Client Onboarding

Different from welcome emails, this is your internal process. It’s something you can create and set up once but use again and again. 

Using a productivity management system to send contracts, welcome packets, questionnaires, and client portal information automatically saves you time and puts the client at ease that you have it all together! It also ensures that everything is accomplished as quickly as possible, and nothing is ever missed. 

My Favorite Productivity Management Systems:

  • – Monday.com
  • – Airtable
  • – Asana
  • – Trello
  • – Zapier 

#2 Welcome Emails 

Did you know welcome emails usually have the highest open rates? These emails are your first access to direct contact with a potential client and are extremely valuable. Use them to engage with the lead and ask how they liked your resource. 

Using your CRM or email management system, set up welcome emails to fire off after a new contact is received and drip out over the following days and weeks. This keeps you at the top of their inbox while your name is fresh on their mind.

Leverage these notes to further establish who you are, what you do, and why they should care by providing practical, tangible value in their inbox. Slowly introduce other ways to connect with you and your higher-ticket offers. 

#3 Social Media Content

Automating content production can reduce the pressure on you or your team to be creative every day at the optimal posting time. While the content still has to be physically created or curated, there are tools and software platforms that help you automate the process. 

You can batch create your social media text and graphics using the free tool, Canva. If you run out of ideas, scroll through the feed of your ideal client or competitors and see what they’re engaged with. Use this to fuel your creation! 

Pre-made content calendars are also a dime a dozen, but apps like PostDeck also offer daily prompts and conversation starters to essentially generate content for you. 

When you’re ready to publish, upload your content to a platform like Sprout Social, Buffer, or Later. These services help you schedule content out for the week or even the month so you can “set it and forget it” and focus on engagement. 

Consider implementing Facebook’s “out of office” auto-responder for after-hours to connect with anyone who may reach out. Or, set up a chatbot to keep the conversation going and assist potential leads. 

Work Smarter, Not Harder!

Automation can be tech-heavy upfront, but the payoff is literally buying you more time! If you’re overwhelmed by manual processes and need support and encouragement to confidently make good business decisions, let’s talk! Book a consultation with me!

3 Mistakes Women Make in Their Business Communications

3 Mistakes Women Make In Their Business Communications

Language and speech are what separates us from the animal kingdom. It’s a powerful tool when wielded properly. 

But it can also just as easily deflate our power as women when we fall prey to some of these common mistakes in business communications.

#1 Lack of Confident Language

You know I love to talk about confidence! Phrases and words that imply hesitation or fear are more common in women’s communications than men. 

Hedges, qualifiers, and tag questions siphon the power from your language and thoughts. You appear indecisive and ill-equipped. 

Phrases To Avoid:

  • “It should be…, shouldn’t it?”
  • “I’m not an expert, but…”
  • “I just think…”
  • “I actually think that maybe…
  • “Am I making sense?”

These phrases all introduce “shrinking” language — an attempt to make your thoughts and words less intrusive or confrontational. You’re preemptively avoiding criticism by suggesting that even you think that what you said may not be right or coherent. 

If you don’t agree with a point or concept, you can still be diplomatic without being unnecessarily aggressive. “I don’t see it that way, here’s why.” or, “I think there’s a better way. Here’s my idea.” are easy phrases to infuse into the meetings that display confidence in yourself and what you bring to the table. 

If you’re attempting to invite feedback or spark further discussion, ask for it without denigrating your contributions to the conversation. “What are your thoughts on this?” or “I look forward to hearing your perspective.” are more confident ways to elicit connection and discussion.

#2 Over-Explaining = Asking Permission 

Many women are still working to earn their place in their career fields. This breeds a desire to over-explain their positions and thoughts in an attempt to prove they deserve a seat at the table.

If you’re waiting for someone to tell you that you deserve a seat at the table, we have a little work to do! I’m telling you, here and now, you don’t have to write the textbook to prove you deserve to be where you are. 

How do I know this? 

Because you’re there! 

Your ability to confidently communicate your thoughts and position will advance you much farther than simply filling the space with words. If you can say in ten words, don’t use twenty.  

Pauses are powerful. Use them to your advantage. 

#3 Deflating Tone and Emphasis

English is one of the most complicated languages on planet Earth, but like most languages, tone plays a significant role in emphasizing our meaning or intent. When you raise the pitch of your voice at the end of a statement, your language automatically sounds like you’re questioning your own words. 

It makes you appear tentative, as if you were unsure of your opinion or even yourself before you ever opened your mouth. Practice lowering the tone of your voice at the end of sentences and see what a difference that makes in how you sound and feel. 

Clear and Confident For The Win

Helping women take fearless action is what I do. Book a confidence consultation and learn  how to boost your business communications.

4 Ways Confidence Changes How You Do Business

4 Ways Confidence Changes How You Do Business

I truly believe that confidence is the key to every other puzzle in life. 

When you’re confident in your business, you’re not afraid to make bold moves and take on a new challenge. You’re not fearful of what others may think and reduce your dreams or abilities to fit someone else’s mold. 

Here are my top four ways that business confidence changes how you do business. 

#1. Confidence Improves Communication Skills

Confidence helps you speak with clarity and with precision. You’re able to impart exactly what you want more efficiently and with conviction. 

Because you’re confident in your intent or purpose, you are more relaxed and in control of your speech and how you communicate emotions. 

Business confidence helps you clearly define what you bring to the table, why you’re worth what you charge, and why your clients and industry partners should care. It’s the ultimate business boost!

#2. You’ll Get More Enjoyment Out of Your Work

The more business confidence you have in yourself, and the more you own your worth, the less likely you are to seek external validation. You stop running your business to please other people or meet their expectations. 

You start doing what you love for YOU! You are empowered to think for yourself and act on your desires and ambitions. This is what keeps you showing up every day, happy to do the work. 

This kind of confident operation overflows into your client and partner relationships. It will ooze into your marketing and messaging. It will be obvious to them that you love what you do, and that’s infectious! 

#3. Your Conflict Resolution Will Be More Successful

Like it or not, conflicts and disagreements will occur in business just as they do in life. When you lack confidence in a conflict, you start to doubt your own abilities and second-guess every decision. 

You start to lose trust in your own judgment and are hesitant to take on a confrontation in order to reach a resolution. When you have confidence in yourself and your capabilities, you believe what you say with conviction, and others will believe it, too. 

#4. Business Confidence Makes You A Better Leader

As a leader, the level of self-confidence you have can be directly associated with the level of trust your team has in you. The more confident you are in yourself, your abilities, your ideas, and what you bring to the table, the easier it is for those under you to trust what you say and do.

Business confidence helps you set ambitious goals and inspires your team to meet them. It helps you hold those you lead accountable for their actions or performance. When you’re more confident yourself, you see and recognize success and progress in others. 

Never underestimate the power of confidence in your life or in your business. If you need that ultimate business boost, or you crave to live a more confident life, I’ve got you! Inspiring and cultivating confidence in others is what I do! Reach out to me here, and let’s chat about how you can live more confidently.

SAHM And Business Owner? Yes, You Can Do Both

SAHM And Business Owner? Yes, You Can Do Both

It can be overwhelming for anyone to start and grow a business, let alone someone who is already managing a household. You’re in charge of housekeeping, child-rearing, meal planning and preparation, running errands, constant chauffeur duties, and a kiss for any boo-boos. 

But in the midst of all that chaos, are YOU getting lost? Do you crave something that is all yours, with your stamp on it? Something to eventually make your life easier?

Friends, you can do both. And I’m going to show you how!

Be Flexible

Your LIFE is your priority, not your job or your business. If you are inflexible with your schedule or roles, you could end up making unnecessary sacrifices that will cost more in time, energy, and money. 

I know the “mom guilt” comes on strong, and it’s easy to feel trapped between two worlds. Stay the course! When things crop up, and they will, that threaten to disrupt your progress, stay flexible and open. 

Remember your priority. As a business owner, you are in charge of your schedule. You CAN make choices that suit your lifestyle. 

Designate a Business Zone

Hotels have them, and so should your home! Whether it’s a tucked-away corner where you can still hear the children or a sound-proofed office with a do-not-disturb sign, your space should be treated like your working sanctuary. 

When you sit in your sanctuary, focus on what you must do, decide what else you can do, and put off whatever is left. A separate space for only work-related tasks keeps you from being unnecessarily distracted. 

Draft a Clear, Ambitious Plan That’s Still Achievable

If anyone can do it, a mom can! But if you don’t have a map, how do you know where you’re going? Of if you’ll get there? 

Map out your big goals for the year.  Where do you want your business to be one year from now?

Great! Now you know where you’re going, let’s create the route to get there. Break down your yearly goals into smaller steps that you can realistically achieve each month. When you reach the beginning of a new month, map out an overview of each week. 

Intentionally schedule times when you can work uninterrupted but remember to stay flexible. Do not squeeze every spare moment of your day, or the slightest inconvenience will set you back. 

Delegate, Delegate, Delegate

Yes, you can do both, but you also don’t have to. It’s also okay to admit that you can’t, or don’t want to, do it ALL. Something can give, I promise. 

Your kids can hang out with a sitter or grandma on occasion. You can hire a freelance assistant or specialist to help you execute tasks in your business. You can work with a consultant that will help you make intentional decisions and stay on target. 

Friends, whether you’ve launched your business or aren’t sure where to start, you can reach your goals faster with the compassionate support of someone like me: a confidence and clarity coach for business owners. Let’s chat!

Mitigating the Impact of Inflation on Fundraising

Mitigating the Impact of Inflation on Fundraising

Everyone is seeing the impact of inflation, from a trip to the grocery store to monthly utility bills. In the past year, inflation amounted to 7.9% — the fastest pace since 1982 – according to the Bureau of Labor Statistics.  

Inflation isn’t likely to resolve anytime soon, especially with the increasing energy costs due to Russia’s invasion of Ukraine.

This is especially troubling for nonprofits. Many charitable organizations receive a significant amount of funding at the fiscal year’s end – June 30 – and the budget implications are only just now obvious.

Nonprofit leaders need to navigate uncertainty and position the valuable work as critical, regardless of what economic indicators show.

What Is Inflation?

The simple definition of inflation is that it’s a sustained upward movement in the price of goods and services in an economy. If all else stays constant, this reflects a loss of purchasing power for a currency. It takes more currency units to buy the same goods and services.

Simply put, your money doesn’t go as far. You can’t buy as many groceries or essentials for the same amount as you did previously.

Many consumers associate inflation with the rise of a few key goods or services, such as oil or the real estate industry. but inflation is only present when the overall price of goods and services is increasing across the board.

When inflation increases faster than wages, it leads to a decrease in purchasing power that causes people to put up more money to buy necessities, but getting less for it. For the average consumer, this can create financial strain and reduced discretionary spending.

The problem here is that many people don’t understand what inflation really is. They believe the prices are increasing, when that’s not what’s happening. The value of each dollar is declining.

Why the distinction? If people believe that it’s prices, not dollars, donors may unknowingly reduce the value of their donations because they don’t regard inflation as the reduced value of money.

They’re not deliberately giving less – they’re accidentally giving less because they’re failing to recognize the diminished purchasing power of their donations.

Even if inflation were to return to its previous levels, it would take time before we see the effects of that. With the end of the year approaching quickly, fundraisers need to take a proactive approach to combat the effects.

Plan Ahead in Thinking, Giving, and Strategy

Donors want to make a difference – that’s why they donate. They’re not trying to decrease their gift, but they just don’t appreciate that it doesn’t have the same purchasing power.

We can’t expect them to know this on their own, however. They can be politely reminded that inflation affects nonprofits, too, and the cost of staffing, supplies, services, and more. It also impacts the lives nonprofits serve – if it’s this difficult for the people who can pay, imagine what it does for those who can’t?

Bottom line – we need more money to make the same impact. We need to ensure donors understand the need for the work and how the dynamics of the world impact it. Donors want to hear stories about those served by their donations, and how, so highlight some of your top stories.

If possible, show metrics of how donations allow impact. Whether the nonprofit is focused on food security, education, literacy, clean water, or support for families, showing the metrics ensures that donors know the impact of their investment – and why it matters if money doesn’t go as far.

How Can We Help?

External pressures like inflation can be a big catalyst for creativity and collaboration. How can we, as community leaders, partners, and corporations, plan ahead and be proactive in our efforts?

The simple solution is to increase the gift to account for inflation and ensure that nonprofits have equivalent purchasing power. But writing a check isn’t the only thing we can do.

Inflation not only decreases what can be done with the donations, but increases the costs for the nonprofits. Volunteering helps nonprofits do more with less, reducing the burden and ensuring that help goes where it’s needed.

Finally, there’s advocacy. You can spread the word about the efforts of nonprofits and encourage others to get involved. Whether they offer monetary gifts, volunteer their time, or spread the word themselves, it all makes a difference. 

Let’s Talk About It!

I’ve had wonderful conversations with innovative leaders ready to grow their community and “put their back in it.” I’d love to talk to other leaders and business owners who feel the same. Schedule a 15-Minute Discovery with me and let’s get started!

Why You Should Always Look For New Clients

Why You Should Always Look For New Clients

If you’re in the middle of a successful season in your business, you may find yourself coasting along and neglecting prospecting for new clients. After all, it’s only natural that you don’t feel the need to look for future customers when you have plenty of work. It simply doesn’t feel necessary when you’re up to your ears at work!

In reality, you should always be on the lookout for new clients even when you’re busy and your books are full. Why? Because finding and nurturing clients requires time and proven methods so by the time you’re needing them, it’s too late to start if you’re behind the ball.  

You may be busy right now but you can also bet there are people out there, right now, who need and want the services you offer and are a perfect match for your business. Now is the time to connect with people online and start interacting with them. 

Another reason to always be on the lookout for clients is the likelihood that, at some point, you’re going to lose a client that you depend on. What would happen to your business if you lost one of your biggest clients? Would you be able to manage the gap in income? Do you have prospects to pursue if you need to bring in more revenue?

So, how do you maintain your current business while always looking for more? The key is being organized. Here are three easy tips you can use right away: 

  • – Come up with a strategy for finding new clients and then systematize it so you don’t have to think about it.

  • – Create regular content to post on other people’s blogs as well as your own. 

  • – Search regularly for new people to connect with on social media.

Take these tips or choose a few simple strategies of your own for finding new clients that you can do on an ongoing basis while still performing work for your current clients. Then, spend a bit of time each day on client acquisitions using your chosen strategies. By investing even just a half-hour into this goal daily, you’ll be on your way to stockpiling your leads for a rainy day.