5 Business Lessons I Learned Running My Last 5K!

I recently ran (okay, mostly ran) a neighborhood 5K after many months since my last event. I’m a very experienced back-of-the-pack half-marathoner, but I tend to only run during the fall racing season, so this was my chance to get off my rear end for the first event of the year.

To keep my mind occupied on something more pleasant than the two-mile uphill climb I was trekking at the time, I started thinking about how recreational racing is similar to starting and growing a business. So after pulling over to re-tie my shoes for the second time (trying not to make it obvious that I needed a break), I brilliantly extended my resting period by noting five business lessons inspired by my 5K march.

Let's see if they can help you along your journey too.

 

1. Know the Course Before the Race

Before signing up for a race, the first thing I always do is review the course. I want to be mentally ready for the steep hill climbs, the fast down slopes and the monotonous flats.

The same principle applies to growing your business. When you look ahead to the next 90 days or 12 months, what do you see? A big sales push? A new product launch? Or just staying the course with the strategy already in place?

When you take the time to envision your business a little down the road (but not too far in advance, because it’s usually hard to see around the bend), you can be thoughtful and proactive about how you spend your time and your money, as well as what you can expect the results to be. When you have a clear vision of the road ahead, you’ll be more likely to cross the finish line with an amazing sense of accomplishment.

 

2. Start Out Fast, Then Settle Into Your Own Pace

If you have ever run an organized race, then you know that the entire pack starts out really fast: fast enough to worry about getting trampled. When I first started racing, I used to resist the flow by staying in the “slow lane” on the right while the speedsters zoomed past me and the other slowpokes.

But now that I’ve run over 25 races, I know that it’s actually much better to start off fast for the entire first mile before settling into my own rhythm.

This same idea applies to growing your business.

Start out fast and strong every new quarter by kicking off a new marketing campaign or launching a service or product. In essence, generate massive results at least four times a year—yes, push yourself past your comfort zone—and then settle into your natural pace with all of that momentum carrying you forward.

 

3. Forget About Passing That Girl in Lulu Everything

Yes, she looks amazing when she speeds by in her adorable outfit, but that’s her race, not yours.
In business, your competitors are running their own races, so don’t confuse yours with theirs. Determine how your brand and its offerings are unique, and use that uniqueness to target customers who will be delighted with your products and services.

When you find yourself overly dissecting other companies' branding and marketing strategies, you can lose focus on your own path. Getting inspired by the success stories in front of you is fantastic, but feeling threatened by them or, worse, trying to copy them is a recipe for disaster.
Besides, they may be ahead now, but it’s who makes it to the finish line first that counts!

 

4. When Approaching a Big Hill, Take Smaller Steps

Surprisingly enough, I actually love running hills. Not for the entire course, but I do love the powerful feeling that comes from making it to the top. A running coach once told me that, whenever I want to tackle a steep hill, I should stay focused on the road ahead and take small but steady steps.

This advice has helped me grow my business time and time again.

When you have a big project or goal with many moving parts and pressing deadlines, start by breaking it down into easier-to-manage micro-projects. It’s much easier to finish 10 small things than to make an exaggerated leap to the end. And as an added bonus, the small achievements along the way will give you a big boost of energy to finish strong.

 

5. Run as Fast as You Can When the Wind Is Finally Behind Your Back

So after running uphill for two miles, and since I was familiar with the course because I reviewed it in advance, I was completely ready for the last half of my race, where I could breeze downhill with a new medal in my sights.

While on your entrepreneurial journey, there will be times when everything you do feels easy and is actually fun. These are your downhill moments. This is your time to go as fast as you can to maximize the opportunities put in front of you and to accelerate towards your goals as quickly as the momentum will take you.

These exciting times can be few and far between, but when it's your time, run like the wind and grab every medal along the way!

 

Pace Yourself for Success

These five lessons started out as a way for me to discreetly catch my breath, as both runners and entrepreneurs sometimes need to do. But the unintended benefit was a great reminder that the best way to win with your business is to run it with intention and do it your way. Remember that it's mostly a marathon, but sometimes you absolutely have to sprint.

{Video} We're Talking Tactics! 5 Fabulous "Fs" for Women Entrepreneurs in 2015!

Welcome to a new year and a new chance to make your entrepreneurial dreams come true! As you step up and into your 2015 fresh start, consider these 5 ideas as a road map to accelerate you towards your best year yet... And because I know you have them, be sure to share YOUR success strategies for 2015 in the comments below! Cheers and HNY!! xoxo, j.
           
P.S. Only 72 hours left to save $50 on your SYMPOSIA :: 2015 ticket! Get inspired, save money, and make money because networking with the women in the room is priceless! Click below to meet the speakers!

We're Talking Tactics! Important Question for You

I had the pleasure of being the featured speaker for NAWBO (National Association of Women Business Owners) Las Vegas and NAWBO Agoura Hills in Los Angeles last week.  When I give a talk, I always like to begin with a provocative question, so to get you thinking too, here it is...

So what was your answer - "Yes", "Maybe" or "No Thanks!"? Post it below and let's start a conversation around how to turn the maybe's and no thanks into yeses!  Comment now and I'll reply back right away.

Until then, Be Profitable & Be WELL! XO, jgw.

Are you an Owner, President or CEO?

Today we celebrate Presidents' Day, and it reminded me of a question I get asked by women entrepreneurs about what title they should call themselves.  

In today's world, I think titles are less about posturing and more about positioning. 

When I say posturing, I mean making yourself look bigger than you are to impress others which is so 80's, and so not now! (I know because I lived through the 80's "fake it till you make it" mentality, big shoulder pads, and even bigger hair...ugh!).

When I talk about positioning, I'm not referring to marketing in this situation, I'm referring to your entrepreneurial mindset. I think choosing a title is actually more for your benefit than the person who is reading your bio or business card.  Here's what I mean:

Owner
If you title yourself as the owner, you are a sole proprietor telling yourself and the world that you are courageous, independent and willing to accept responsibility for the good AND the bad. Further, you are taking the road less traveled and forging ahead to become economically independent and self-sufficient... Hear me roar!

President
If you title yourself as President, not only are you serving the world with your unique gifts and talents, you know that your growth path to success includes a team.  Presidents are leaders and by declaring, "I am the President", you are positioning your business to grow bigger, more profitable, and beyond what you can do on your own. Hail to the Chief!

CEO
If you title yourself as CEO or Chief Executive Officer, you have established your business as a corporation, you have a group of advisors or a board of directors (formal or informal), and you know that in addition to a team, you will need access to capital to grow a multimillion dollar business.  You may step into your CEO stilettos right out of the gate or after being on your entrepreneurial journey for many years. There's no right or wrong time to establish yourself as the CEO, so don't compare yourself to others, just step in and step up when "WAY bigger" feels best to you. 

For me, because my boutique M&A firm is a professional practice and a corporation, I titled myself "Principal & CEO". As a practice organized as a corporation with 10 team members and a vision of multi millions in transactions, the title seemed fitting. And now that most of my time is spent in pursuit of training millions of women entrepreneurs to grow bigger, more profitable and sellable seven-figure businesses, guess what my title is? CEO, of course - it's the only way I roll! 

So to wrap this up, my bottom line message is to choose your title thoughtfully.  It's more about creating a personal mindset to grow the business of your dreams than telling the world who you are, so choose your title carefully and then own it as a vehicle to manifest your vision. Who knew titles were so powerful?!

So what do you call yourself? 
Do you think your title represents your vision (current and future)? 

I would love to know your thoughts on titles and hear your story, so please comment below!

XO, jgw.

P.S. If growing a bigger, more profitable and someday sellable business is your manifest destiny, click to learn about our accelerator program - it's a proven road map with a personal guide to get you there!