Best Business Advice / Meeting Notes February 2021
Location: Virtual
Attendees: Janet, Salma, Cathy, Carolina, Janice
Announcements
Meeting Notes
It seems that not many members are logging into the website to read and comment on the Meeting Notes. Going forward I’m going to send the full meeting notes by email to all active members, separate from the monthly newsletter with upcoming events and recent blog posts. I’m hoping this will make it easier for everyone to be on top of things and stay engaged with the group.
On that note, I encourage you to go back and read January’s meeting notes as there were a lot of announcements you should know about.
Upcoming Meetings
March 15 – Dealing with Difficult Clients – Website link | Facebook link
April 20 – Organizing Strategies – Website link | Facebook link
May 18 – Business and Self-Improvement Books – Website link | Facebook link
In the comments, please let us know what topics you’d like to learn about, explore, or present on in the future.
Discussion: Best Business Advice
We talked about the best business advice we’ve ever received, including who gave it to us or where we read it, how we applied it, and what difference it has made in our businesses. Due to the small group, some of us were able to share more than one piece of advice.
“Create recurring revenue”
Janet was aware of the concept for many years but didn’t feel it was right for her business or her clients. A couple of years ago she took the WP Elevation Blueprint course which included a bonus course on Website Care Plans. Developing her own Care Plans had such a positive impact on her business that her income for 2020 matched that of the year before, despite having very few website design projects.
“Every time you get a deposit from sales, take a predetermined percentage of that money as profit”
Carolina adapted the Profit First model developed by Mike Michalowicz and it has helped her with cash management even when she was unable to work for health reasons. Janet also uses this system, and wrote about it in a recent newsletter.
“Figure out your entrepreneurial style and strengths”
Following this advice from a business coach, Cathy can now capitalize on her strengths when working and communicating with her clients.
“Don’t put all your eggs in one basket”
Applying the wisdom from this old proverb, Salma diversified her services to include virtual assistance, computer instruction, and minute-taking for condo boards. This has allowed her to enjoy a regular income and a variety of work.
“You know they need you, don’t you?”
Janice heard this from Donna Toothaker, coach to virtual assistants. It helped her to realize that she is an expert and that her clients don’t know what she knows. Understanding this allows her to be more confident.
“If you don’t think your business is worth investing in, why would a client?”
Janet was asked this question when, as a brand new professional organizer, she told the President of Professional Organizers in Canada of her reluctance to join the association and attend the annual conference before she had money coming in. She did both, and although she later transitioned to virtual assistance and then web design, she still benefits from the contacts she made and the experience she gained during her five years with POC.
“Put shoes on when you’re working at home.”
Cathy heard this from FlyLady, who claims that wearing shoes or not affects the way you speak to people.
If you were unable to attend, please share the best business advice YOU’ve ever received in the comments.