"From Employee to Entrepreneur: Mistakes Made, Lessons Learned" – Session Created for ProductCampAustin #12 by Vicki McCullough + Mary Anne Connolly, AT+T Conference Center, University of Texas at Austin, TX, February 15, 2014
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Two former marketing and communications experts and employees from the corporate and small business worlds share strategies, specific steps and advice on how to take the leap from employee to solo/entrepreneurship in any industry. We’ll share how to turn the B2B experience into E2E (employee-to-entrepreneur)! Interactive, informal discussion w/aid of a few slides, handouts, sharing lessons learned, real-life examples, humor and personal observations/opinions on making a successful leap, despite the many bumps and bruises gained along the way. Mary Anne Connolly, Founder + Chief Creative Officer of M.A.Communications, has over 20 years experience in both national TV (ABC + FOX News) and regional magazine journalism and PR. She now advises and creates content for individuals, companies, corporations and nonprofits in both traditional and new media, internal and external storytelling, as well as the changing face of PR and media technologies. Vicki McCullough, Founder + President of Sequitur Marketing, has over 20 years experience in marketing, sales and communications for a variety of corporations such as American College Testing, National Computer Systems, Hart InterCivic and Business Ink. Sequitur Marketing now focuses on helping small-to-midsize businesses define and achieve success thru effective marketing planning and management.
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"From Employee to Entrepreneur: Mistakes Made, Lessons Learned" – Session Created for ProductCampAustin #12 by Vicki McCullough + Mary Anne Connolly, AT+T Conference Center, University of Texas at Austin, TX, February 15, 2014
- 3. Ready to take the leap?
- 4. Mary Anne Connolly M.A.Communications @MaryAnneComm Vicki R. McCullough Sequitur Marketing, LLC @sosequitur
- 5. Hours and hours of hard work...
- 6. Ready…
- 8. Set a personal budget/financial plan
- 9. Manage what you can… first, you…
- 11. … …Set
- 12. Do research
- 13. Offer help, ask for help
- 14. Take care of business basics
- 15. Imagine your perfect workspace
- 16. Where and how will you work?
- 18. …Go!
- 21. Budget resources
- 22. Offer help
- 23. Thank you! Presentation available at www.slideshare.net/sosequitur and www.slideshare.net/maryanneconnolly
Notas do Editor
- ProductCamp Austin #12February 15, 2014Session title: “From Employee to Entrepreneur: Mistakes Made, Lessons Learned”Session category: PM CareersTarget audience: PM for Entrepreneurs
- Thanks to our sponsors, without whom we wouldn’t be here!
- Vicki McCullough, Founder and President of Sequitur Marketing, has more than 20 years’ experience in marketing, sales, and communications for a wide array of businesses. Vicki’s corporate experience includes working for American College Testing, National Computer Systems, Hart InterCivic, and Business Ink. Recent Sequitur Marketing clients include Marc Miller and Career Pivot, Mike O’Krent and LifeStories Alive, and Robin Herzkowitz of RH2 Consulting.She firmly believes in the value of a strong marketing function as a foundation for business success. Based on this belief, she established Sequitur Marketing to help small-to-mid-size businesses define and achieve success through effective marketing planning and management. Vicki also established Sequitur Marketing in early 2013 for the opportunity to help other businesses be successful, manage her own business, invigorate her brain, and be creative.Mary Anne Connolly, Founder and Chief Creative Officer of M.A.Communications, is a former journalist, content creator, publicist and expert in both traditional and new media, as well as strategic communications. She works with individuals, small businesses, corporations and nonprofits to help them navigate the ever-changing media landscape, improve their bottom line, enhance their reputations or just plain communicate more effectively.Mary Anne founded M.A. Communications in 2002 while working as a freelance producer in New York City just after 9/11 when the media market hit a low. She continued working as an independent contractor upon her move to Austin in 2003, even when one client in particular (Austin Woman) monopolized most of her time for 6 years. Though it was a peak point in her journalism career, it also made her feel like an employee, chained to a desk again, so she decided to quit and recalibrate her working life and creative product.
- It takes lots of thinking…and daydreaming…;->
- Ready…Do some serious, reflective thinking. Have a heart-to-heart with yourself.What is it exactly you want to do? Why? What changes will you need to make in your life in order to do this? Who else (family, etc.) will be affected?
- Ready…Do some personal budget/financial planning. Think about:How are you going to pay your rent/mortgage, buy groceries, cover health insurance? Or not? What do you need for financial security? What funds or plan do you need to live onto support yourself for a minimum of 6 months? Consider:Writing out a stringent but realistic budget.Setting targets or limits re: use of personal savings, personal debt/loans, credit cards, etc. Getting a part-time job. This not only assures a little cash flow but gives you specific work to focus on.So, be a planner, have a worst-case scenario, and know your tolerance level. In other words, set financial parameters that you can live with.
- Ready…You can manage…..you. Anticipate and roll with your ups and downs, including: mental, physical, emotional, and financial.Stay focused on productive activities, get a plan and work it, don’t overlook health and wellness (diet, exercise), and maintain positive social contacts.Also important: Keep Your Sense of Humor! At every stage of your business.
- Ready…As you transition and even as you become more established, the world is not going to be completely in balance. You are not in control of the cosmos! However, you are in control of your decisions and actions.
- …Set…
- …Set…Do research. Invest time and energy in learning and getting smart. Or smarter. Make use of the many, many resources available. Some favorites are websites, books, professional journals, and countless Meet-Ups and networking groups.You should also consider organizations such as Austin’s Small Business Development Center, BIGAustin, the Small Business Administration, incubators like TechRanch, and events such as RISE (and ProductCamp of course!) There are many, many learning opportunities available ... use them! And my apologies to all the great options not listed here; there are so many!
- …Set…Offer help, ask for help. Ask others for help. Get help and support from family, friends and business acquaintances. Ask for insights on industries, ask for knowledge on biz accounts. As Marc Miller of Career Pivot says, “Ask for AIR: advice, insights and recommendations.” Most people truly want to help and are glad to share. You get good info and it strengthens your network. Plus, people take you seriously when they see you are humble enough to ask for help and are ready to learn and grow.
- …Set…Do some practical planning for your business. First, there are the physical basics: you need a good work space and maybe a desk, working computer, software, phone line. Understand your options for legal structure. For example, should you set up as an LLC, a DBA or a corporation? , DBA. Will you have a business partner and how might that actually work? How will you manage finances? Will you have checking and savings business accounts? Will you get a business credit card (those AmEx cards look so cool!) What are some of the advantages from the SBA and more to explore? Assess whether you need an attorney and/or a CPA. Talk to some of these professionals to understand what services they offer, what you need, and what the charges will be. Get your list of questions ready ahead of time.
- It’s important you love WHERE you work, as much as when and how!
- …Set…Create a business plan …sooner is better than later. Even if it is really broad and brief or just the first steps.For example, start by determining a quarterly goal for income, clients and projects. If you don’t know where to start or the task seems overwhelming, go to some of the information resources we’ve mentioned.Refer back to your plan and revise it regularly. Use it as a guide and reality check. The City of Austin Small Business Center and Texas State are great, free resources that help you with tools and assistance for every step of the way. Adjust your plan as your business grows and as you learn more.
- …Go!
- …Go!Do it! At some point, you must decide. COMMIT ... JUST DO IT!
- …Go!Ask for referrals. Especially when you really need them!Not everyone will remember you are starting a new business or trying to build a clientele. Sometimes folks just assume if you look relatively clean, well-fed and your car is in working order, that you are doing just fine! But, if you remind trusted colleagues and friends that you are looking to add more work, projects and/or new clients, you will then move to top of their lists when they are personally swamped, discover a wrong fit and/or they hear of someone needing someone like you or your services. You still own the responsibility. People really do want to help. Especially if they know you are sincere in your path to success and not lazy!
- …Go!Budget your time and income to carry you thru slow periods. Be grateful for busy periods, but don't expect them to last ... ever! (integrate with balance point)There are some weeks where you will work an ungodly amount of hours and other weeks that are quiet – too quiet.Spend your downtime or slow months on marketing, professional development, training, or strategic planning. Update/revise your business plan.Create a new website or social media plan. Explore partnerships and possible creative products or services that can create revenue down the line.Also, be sure to rest, pursue personal projects/travel/take vacations and enjoy yourself a bit (integrate with balance point).More about budgeting/balancing income, finances…
- …Go!As important as asking for help is to offer help … offer AIR, as appropriate. Find ways to contribute. Volunteer, mentor, consult pro bono. These activities are not a replacement for paid work (unless you are retired and not interested in having a profitable business) but they give you an opportunity to exercise your skills while contributing. This kind of work also can increase your exposure in different markets and with different potential clients.Appreciate opportunities to share with other business owners. Note … share. Give and receive. Yes, you must have paid work. But find a way to share.
- Thank you!