In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. In each one-hour session, women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.
One key to navigating entrepreneurship is preventing burnout. We asked Kelly Knight how she solves the challenge of burnout in her company:
Burnout is rife but also very preventable. There has been a rise in burnout, especially during the pandemic. When the coronavirus kicked in, and the world turned topsy-turvy, many of us went from seeing team members in person to only seeing them on a screen. Since then, we have had fits and starts of returning to the workplace, but the deeper issue of burnout remains unsolved. Why are organizations struggling to address burnout effectively? Because it requires hard work to get to the root of the problem.
We have to be honest about what’s happening in our companies, taking stock of what things look like today and how people’s roles have shifted. Some businesses have seen record growth, which means higher workloads for employees—and more stress. It’s important to right-size your organization to ensure team members have manageable capacities that don’t lead to more burnout.
Just as we visit the doctor for annual checkups, it’s essential to reassess your team’s capacity, structure, and processes at least once a year. My company does it during our yearly planning session, for instance, to ensure we aren’t unintentionally putting more stress on our team.
Here’s how to start:
1. Open Communication
Communicate with team members and other stakeholders regularly via one-on-ones or other meetings, and encourage them to be open about any struggles they’re facing that are leading to burnout. Listen to them, and acknowledge their feelings. That alone can help relieve some burnout. When times are hard and we feel overworked or stressed about capacity, the small things—like feeling valued, appreciated, and seen—sometimes get us through those moments.
2. Emotional Honesty
Model honesty yourself to help your team feel comfortable. There can be a lot of shame in admitting that you can’t handle your workload because it feels like admitting you’re a weak contributor. Let your team know that’s not the case by being open about your own struggles with burnout. In fostering this kind of open environment, you can more successfully get to the root of the issue that’s leading to burnout and better address it companywide.
3. Reassure Fears
Too often, organizations operate in fear-based environments where people think there will be some kind of retribution if they tell hard truths. We must move away from fear-based to gratitude-based environments that praise people for being honest, knowing that it will make the whole organization a better place to work.
The past few years have brought rapid changes to the workplace. Although some of the changes have undoubtedly been good, they have also led to intense burnout. To get to the underlying cause, slow down, take stock of your organization, and seek your team’s input. With some hard work, you can help burnout become a thing of the past.
Contributed to EO by Kelly Knight, who is an expert builder of teams. She is hard-wired to find and grow other talented people, guiding them to reach their maximum potential. After 20 years managing and leading dynamic organizations in the financial services industry, Kelly has been serving as an EOS Worldwide Integrator since 2016. Named to the 2022 Inc. 5000 list of America’s fastest-growing companies, as well as to the 2022 Inaugural Inc. Power Partner list, EOS Worldwide has helped thousands of entrepreneurs all over the globe get everything they want from their businesses.
For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.
Contributed to EO by Abeer Qumsieh, a seven-year EO Jordan member who is the founder of Better Business, the leading organization for management consulting and human capital development in Jordan, and Khibraty, an intelligent digital matchmaking marketplace for expertise seekers and providers. She is also a partner in MakanE, an e-commerce enabler in the Middle East.
In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. In each one-hour session, women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.
As an Arab woman entrepreneur from the Middle East, I’ve faced numerous challenges while launching and growing my businesses. However, rather than deter me, these challenges have been a driving force behind my success, inspiring me to shatter many glass ceilings in male-dominated industries. Unfortunately, gender bias has made it difficult for women entrepreneurs like me to secure funding, build professional networks, and balance various day-to-day responsibilities. Despite these hurdles, I have achieved success and continue to find ways to grow my business while founding several other successful businesses.
Develop a Clear Vision
Multiple factors contributed to my success, among them was knowing my mission, what I wanted to accomplish, and how I planned to achieve it. This clear vision guided my actions and decision-making processes throughout the years, keeping me focused on my goals. That being said, committing to lifelong learning and pushing myself beyond my comfort zone—to the extent of joining a climb to Everest base camp—contributed to giving me an edge by improving my skills and empowering me to make bold and informed decisions, to innovate, and to remain ahead of the game in my industry.
Embrace Technology
Along the way and early enough, I discovered that innovation goes hand-in-hand with technology, which is a crucial tool for business growth and success. Though not within my main skill set, I embraced technology and rode the wave of digital transformation across different sectors in my industries. For example, after nearly two decades of providing programmes through my company, Better Business, the Covid-19 pandemic forced us to pivot—fast. Within three days, we embraced a complete on-line set up, and as a result were able to expand our client base to companies in Asia and Europe. Technology has enabled me to grow and differentiate my businesses, a key practice for ongoing success. It also inspired me to take a leap by partnering in a tech company, MakanE.
Prioritize Self-Care
As a woman business owner with children, I often find myself juggling multiple responsibilities, which can lead to burnout and stress. Prioritizing self-care is critical for me in maintaining a healthy life balance while remaining productive and focused on my business goals. I intentionally set aside time for my favorite activities, which include playing badminton quite often, and investing time to share with my family and friends.
Build a Strong Network
One of the most significant factors that contributed to my success was building a strong network. We all know it gets lonely at the top—my network provided me with many opportunities to connect with other business leaders and learn about the latest business and personal trends. Joining professional organizations including EO has qualified me to participate in inspiring moments that shifted the way I think and operate.
Personally, I believe that finding like-minded people beyond your regular network will provide you with new and invaluable experiences that will benefit you in various times of your professional or personal life by supporting your mental journey. The relationships that I’ve built over the years within EO are still very precious to me and very much present in my life today.
Extend Your Hand to the Next Generation
Before I close, I will leave you with one last piece that impacted my journey. Over the years, giving back, volunteering my time and resources to other entrepreneurs—to women, to youth, to my community and beyond—has been extremely rewarding. As an added bonus, it has further solidified the extensive network I’ve built. That same network supported me back and increased my power to allow me to make the difference I set out to make, and that I aspire to continue making in the future.
Don’t miss EO’s 2023 EmpowHER virtual series on 7, 14 and 21 March (the first three Tuesdays of the month). EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Randi Zuckerberg, founder and CEO of Zuckerberg Media and former head of marketing at Facebook; Aanchal Bhatia, founder of Sydenham Clinic; Hannah Vasicek, founder of Francesca; and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!
On 7 March, entrepreneur Randi Zuckerberg will share insights she has gained from being a three-dimensional woman of many titles. This seminar is free and open to anyone, upon registration. Sign up here to EmpowHER today.
The 17,000+ members of the Entrepreneurs’ Organization (EO) share a passion for entrepreneurship and maximizing their individual potential to move the world forward, together. In doing so, members forge a strong bond of support and shared experience.
In observance of Random Acts of Kindness Day on February 17, we asked members to share a Random Act of Kindness they received from another EO member and how it impacted them. Here’s what seven EO members shared:
Creating a brighter future
I met Carolina Lopez (EO Nicaragua) through EO. Our shared passion for helping children through education and empowerment helped us become great friends and colleagues.
In 2022, I founded a non-profit organization, High Tide Global, with my life partner, Elbert, to provide underprivileged children around the world with access to education, infrastructure, and motivational classes. We believe that education is the key to breaking the cycle of poverty and empowering children to create a better future for themselves.
Carolina has been an invaluable partner in our mission. She has invested US$1 million to create a unique educational and empowerment program for children, the Superhero Program. It teaches children how to tap into their inner strength, empowering them to become strong, confident, and resilient individuals who can make a positive impact on their communities. Carolina generously donated the Superhero program to High Tide Global—allowing us to further our mission of lifting the tide for 1 billion people by 2032. Her act of kindness is a gift that will keep on giving for generations and throughout the globe.
While we were in Accelerator together, Brennen Bliss (EO Austin) helped me out of a bind during our overnight group retreat. My company’s website got hacked. I knew nothing about websites, security or hosting. But Brennen, founder of Propellic, came to my rescue: He migrated my company’s website to WP Engine over breakfast! That’s not even his business, but he is a technical guru. It would have taken us weeks to find a trusted resource and get it done.
It was a random act of kindness that improved my business, reduced my stress level and made Brennen a trusted fellow EOer for life!
— Carolyn Lowe, EO Austin, founder and CEO, ROI Swift
A thoughtful personal touch
GLC provides opportunities to connect with EO members from all over the world. At the 2019 GLC in Macau, China, my wife and I had the pleasure of meeting Saurabh Kakkar, former president of EO Jaipur, who truly embodies the spirit of EO and the meaning of connection. Eventually, my family planned a trip to India, including a visit to Jaipur.
Saurabh graciously arranged for us to have dinner together and even sent a car to pick us up. But that’s not where the story ends. When one of our flights got cancelled, we had to take an eight-hour train to Udaipur. Saurabh and his wife, Vinnie, went above and beyond by preparing a take-along food bag for us, complete with individually wrapped meals, condiments, snacks, after-dinner refreshments, drinks, vitamins, medicines, and even a deck of playing cards! Their thoughtful act had a profound impact on our trip; they taught me a valuable lesson about incorporating a personal touch in my business relationships.
Whenever a new member joins EO anywhere around the world, Ashtan Moore (EO DC) shares his direct contact on Slack and invites them to meet with him so he can welcome them and share any advice he may know about EO or business. When I met with him online, he gave me a tour and explained to me how a sales tool worked, even sent me templates and scripts he personally uses in his business. He is very active within the EO community, generous, and makes time for not just me, but everyone at EO.
Russ Hassmann, the first founding member of EO Connecticut, owns National Sign Corp. His company makes signs and branding for well-known companies including Maserati, Ferrari and Barnes & Noble. I am honored to call Russ a Forum mate for my 14 years in EO (24 years for him). My company recently moved to a new space where we could (finally!) have a sign above our entrance. Russ offered guidance and insight around the process of ordering and permitting a sign. As my team got the necessary approvals, to my great surprise, Russ had his team make and deliver us a new sign. It was a huge gift both personally and professionally, and I am reminded of our tremendous friendship and bond every day I walk into my office. It’s a symbol of all the learning, growing and friendships I have from joining EO and a reminder of giving back to this awesome EO global community.
During the height of the Covid pandemic, my then-wife’s sister contracted Covid and passed away. We live in New York City; she lived in Florida. My wife needed to go to Florida to bury her sister. As Covid was raging and vaccines weren’t yet available to us, traveling by plane didn’t feel safe. I posted on EO NY Google Groups, requesting ideas on how to get her from New York to Florida safely.
One EO member offered to fly her to Atlanta by private jet to meet her niece who could drive her to Florida. Another EO member offered up his RV so she could drive there comfortably. Other members offered access to high-end safety equipment. An international member worked her network to find a charter plane. I remain grateful for the many resources and ideas our generous community offered during that difficult time.
On separate occasions during a very tough time in my life, Trixie Whyte and Leah Caringal, both EO Philippines members, reached out to me to say they were thinking about me, asked how I was doing, and made sure I knew that they were there in case I needed anything.
Time, for me, is the most precious gift. For two incredibly busy women to stop whatever they were doing to check in on a fellow woman entrepreneur is an act of kindness that I will never forget. Knowing that I had friends in EO who were tuned in to me and who cared enough to let me know that I was not alone made me feel more confident and brave. I truly have a tribe!
Entrepreneurship is a blend of many skills. Undeniably, the ability to deliver a message efficiently, eloquently, and effectively is one of them. For some, the goal is to capture attention from a TED stage; for others, the stage is our boardroom. Regardless of our audience or the stage we aspire to dominate, EO has created a programme that turns EOers into exceptional presenters.
Global Speakers Academy (GSA) was launched in 2019 with the goal of bringing together members from across the globe and world-class speaker coaches for an intense and immersive 4.5-day classroom training programme on public speaking. Since then, the programme has graduated and certified inspiring high-impact talks delivered by members on every continent.
Applications are open (until 31 July 2023) for another high-impact Global Speakers Academy training in Riviera Pacifica, Panama from 23-27 October 2023. As you ponder whether now is the time to 10x your public speaking skills, hear from four GSA graduates about the transformational experience the programme had on their journeys:
What was your level of comfort with public speaking prior to attending Global Speakers Academy?
Michèle Hecken (EO Canada Bridge): I was comfortable, but I was not confident. Prior to completing GSA, I did not have the tools that I have now, which allow me to comfortably—and confidently—stand in front of hundreds of people and deliver a talk.
Stephanie Camarillo (EO Idaho): I was a novice with a passion and a desire to get my story out!
I had experience teaching university classes, some presenting for work, but it was giving an EO talk that inspired me to want more. I must admit: the self-doubt during my GSA experience was strong; I was comparing myself to others in the EO cohort. I remember walking into the room one morning and fellow attendee Robyn Rosenberger, founder of Tiny Superheroes, said she believed in me and told me to keep going. I did. And it’s been an amazing journey since.
Joe Frost (EO Nebraska): I had spoken in small group facilitations, in front of a classroom of students, and as guest at community events. I was fairly comfortable being in front of an audience but did not feel comfortable at all being considered a “keynote” speaker. That is why I attended.
Andrea Heuston (EO US West Bridge): I was a confident speaker when I signed up for GSA. On a scale from 1-10, I was about a 7. I’d been speaker-coaching for nearly 20 years, but I loved being behind the scenes more than on the stage.
What was your main motivation for attending Global Speakers Academy?
Michèle Hecken: I had sold my business and was writing a book, which made me curious about public speaking. First and foremost, I wanted to see if speaking was even something that I would enjoy. To me, the only way to answer that question was to go through proper training and find out.
Stephanie Camarillo: I wanted to amplify my voice, get world-class training, and get feedback and support from my peers. It turns out that the relationships built from that group have been the best takeaway and life-changing. We have all stayed in contact, frequently collaborate, ask questions, and support one another. It built my network exponentially, and I’m astounded by how valuable the experience has been.
Joe Frost: I’d been talking about becoming a keynote speaker for years, and finally decided to take a step towards doing it. I wasn’t sure of the formula for success, nor what topic I should present. I wanted GSA to give me a framework for a signature talk and help me understand what topic and how best to present on it. It did exactly that!
Andrea Heuston: Learning! I am a quintessential EOer with a true love for learning, always looking to add more arrows to my quiver.
In what way was the experience transformational for you?
Michèle Hecken: In so many ways! My biggest takeaway was to learn how to craft a talk that is not only informative, but also engaging, all the while presenting my value proposition. I was also impressed to learn the process that can be applied to crafting a five-minute talk equally as much as to creating a four-hour workshop. Lastly, I am grateful to GSA for the incredible community of fellow EOers I met and remain in contact with.
Stephanie Camarillo: GSA helped me gain the confidence and tools to speak publicly and tell my story. It helped me begin to build out other platforms. In inspired me to start building my personal brand. I just co-authored my first book, Lead Like a Woman: Audacity (with a fellow GSA graduate), I’ve written a second talk and am expanding my audience and social media following. I have also developed a women’s leadership retreat in Tuscany, Italy. Seriously, GSA opened a new chapter in my life. I am having so much fun!
Joe Frost: The GSA experience was impactful in three key ways. First, interacting with fellow EO members from around the world is priceless. Second, learning a proven system for developing a signature talk and the takeaway value from applying that system to multiple topics. And third, being able to work on my talk with professionals and peers during the week, improving every day.
Andrea Heuston: GSA is the single most impactful event I’ve attended in all my years with EO. I even wrote an article about it sharing the three reasons the programme was truly transformational to me.
Thanks to GSA, I became more comfortable telling my stories on stage. I also met and cultivated friendships with the most amazing people in EO!
What is the coolest outcome (speaking gig) you got as a result of attending GSA?
Michèle Hecken: I’ve had quite a few, from a five-minute Ignite talk at EO One Canada Conference to a four-hour workshop for a group of female entrepreneurs. Since GSA, I’ve given a keynote in Vegas, a talk at EO’s Global Leadership Conference, and have spoken to so many amazing chapters. My next talk is for EO Malaysia, and I am really looking forward to it!
Stephanie Camarillo: I loved delivering a talk to an audience in Seattle from a little village in Tuscany where we have an apartment. I’m applying to speak to global audiences now and that’s exciting. But in all truth, the coolest outcome is when someone attends my talk and writes about the impact. One EO member said: “I couldn’t let today go by without sending you a note to tell you how inspiring and courageous your message was last night … you were the topic of conversation today in the office, everybody was so touched and motivated by your story.” Impacting people like that gives me a sense of deep purpose.
Joe Frost: I am much more confident in my ability to deliver keynotes, but honestly the coolest outcomes were the relationships I made with other EO members. I’ve worked with many, shared the stage with a couple, and referred several others.
Andrea Heuston: I have had so many incredible speaking opportunities since attending GSA—more than I can count! Right now, I am finalizing an online course for aspiring speakers and presenters in the fitness industry, available to over 100,000 people for continuing education credits!
What is the title of your keynote, what is it about, and who is it best suited for?
Michèle Hecken: The title of my talk is “The Art of Offboarding,” and I love speaking to very different types of groups, but I am biased in favor of fellow EOers. When I speak to EO chapters or at EO events, not only do I get to bring tangible value, but I also get to meet fellow members and grow my incredible community.
Stephanie Camarillo: The title of my talk is “Three Secrets Successful Entrepreneurs Use to Find and Keep the Best Talent.” It illuminates a strategy of how to gain freedom and empowerment by lifting the dreams of the people you employ. Every entrepreneur deserves the opportunity to take a radically honest look at our innermost hopes and dreams—and reshape our business culture accordingly. A self-styled “freedompreneur,” my message is that ultimate freedom is the ability to choose your own journey in the face of any consequence.
I love delivering my talk to entrepreneurs, their spouses, employees, and key stakeholders to help align their company around a shared purpose empowering all to drive results.
Joe Frost: The title of my talk is “The Future is Fractional—Reinvent, Re-engineer, and Reimagine your leadership team with Fractional Professionals.” It’s about learning what a fractional profession is (and is not), why you should take advantage of the talent emerging in this space, and how to find the right fractional for you. It’s best-suited for business owners, which is why I have been delivering it to EO groups nationally and internationally. My favorite audience!
Andrea Heuston: I don’t just have a singular keynote—I have developed a portfolio of them! Some of the most recent are: Five Reasons Why Women Make Outstanding Leaders, Three Tactics to Create Deep Connection with Your Audience, and Finding Joy and Confidence in Public Speaking.
Are you ready to apply to Global Speakers Academy?
Inspiring, right? As your member host for the spring 2023 GSA cohort and a fellow GSA graduate, I consider GSA to be one of the best programmes ever created by EO. I am eager and excited to meet you as you, too, undergo this fully transformational experience.
Contributed to EO by Natalie Kaminski, an EO New York member and co-founder and CEO of JetRockets. In observance of the United Nations’ International Day of Women and Girls in Science on 11 February, we asked Natalie to share her view on women in STEM careers, and specifically in her field of computer science. Here’s what she shared:
I immigrated to the US from Israel at the age of 18 with US$500 in my pocket. It was 1998. Between the dotcom boom and Y2K nearly upon us, there were many jobs available in the IT industry. Not having many tech skills, I opted for a role as a Junior QA Tester, and I immediately fell in love with the work! I found it absolutely fascinating that computer programs could solve real problems and make life so much easier and more convenient.
I was unknowingly following in the footsteps of Grace Hopper, Evelyn Boyd Granville, and Margaret Hamilton — female computing pioneers of the 1950s and 60s.
Fast forward two-plus decades, and I’m now the CEO and co-founder of JetRockets, where we develop high-performing web and mobile app solutions that help our clients transform their businesses and grow.
But while many of the industry’s earliest pioneers in electronic computing were women, today the picture looks very different. Although more women than men graduate from college, and the computing world has boomed for decades, only a small fraction of computer programmers are women.
While it’s difficult to pinpoint exactly what percentage of software developers are female, all data point to a stark gender gap between men and women. Studies specifically focused on software developers suggest that as few as 8-10% of all software developers are female.
Why are so few women in tech and specifically software development? There is no single answer, but the main reasons include:
1. A drop in women earning computer science degrees
While it is not always necessary to have a degree to get a job as a computer programmer, a computer science degree is one of the most common pathways into the tech field. Fewer women obtaining CS degrees means fewer women becoming software developers.
According to the National Science Foundation, women earned only 19% of computer science degrees in 2016. That’s a significant drop from 1985, when 34% of CS degrees were earned by women. It’s frustrating that this decrease comes at a time when more women overall are graduating college—in fact, more women than men graduate from college in the United States each year now.
One positive development, however, is that more women are seeking graduate degrees in CS than before. In 2016, 31% of CS masters degrees were granted to women, up from 28% in 1997.
2. Lower job retention
Only 38% of women who majored in computer science are currently working in tech, further compounding the gender gap due to fewer degrees. By comparison, 53% of men who majored in computer science are currently working in tech.
While it is not uncommon to see CS graduates wind up in management or consulting, that’s probably not the full story. Women may feel unsupported in their process of moving into a career where so much career advice is geared toward men.
3. Problems with workplace culture
A major obstacle facing many women in tech is an unfriendly, male-dominated culture. While it is difficult to quantify culture, several pieces of information point to common problems that women experience.
A 2017 Pew Research poll found that 50% of women reported gender discrimination at work, compared with 19% of men. This effect was more pronounced for women holding postgraduate degrees, 62% of whom reported some form of gender discrimination. Additionally, 36% of women said that sexual harassment was a problem in their workplace.
Unwelcome cultural environments create situations where women may feel compelled to leave. Often, they may feel they are unfairly passed over for promotion, or assigned work that doesn’t fit their skillsets. Unsurprisingly, many women switch careers after just a few years.
It is important to keep in mind that these are generalities. Not every company has a chauvinistic, male-dominated culture. But those that do may tend to lose their female employees, making it even harder for women to establish a presence there in the future.
4. Lack of representation
Female representation in company culture is crucial in many ways:
It creates role models for women who may be on the fence about pursuing the industry.
It provides opportunities for mentorship.
It gives women a voice in organizational decision-making.
The fact that there are not enough women in tech, therefore, makes it more difficult to increase the number of women in tech. A lack of strong female representation creates a vicious circle that maintains the status quo.
An employment gap now means an employment gap later. Although women make up 47% of the US workforce, in 2015, they held only 25% of computing jobs — in a time when tech is booming and has been for decades.
What we can do about it
As a mother of two girls ages 16 and 9, I make a point that they know and understand that there is nothing intrinsically masculine about writing code. I often share with them that there are many strong reasons for women to consider a career in the science, technology, economic or math (STEM) fields. I encourage you to do the same.
Here are five reasons to consider a STEM career that I share with my daughters and other young women:
Job security. There’s high demand for STEM jobs and they usually come with good salaries, so you’ll have financial stability and independence.
Brain power. STEM careers are all about solving problems and being creative. You’ll have the chance to make a real impact and change the world for the better.
Career progression. The world of STEM is constantly changing, so you’ll always have opportunities to learn and grow in your career. You could even pursue a leadership role.
Something for everyone. STEM covers a lot of different fields, so no matter what you’re interested in, there’s something for you.
Making a difference. You’ll get to work on projects that improve people’s lives and make a positive impact on the world. It doesn’t get much better than that!
As a woman in a STEM career and leadership role, I strongly encourage you to promote STEM learning and exploration among the young women in your community. It’s up to us to reverse the vicious cycle of gender underrepresentation in STEM fields into a positive cycle of representation, gender diversity and inclusion.
Portions of this post originally appeared on the JetRockets blog and are reprinted here with permission.
For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.
Don’t miss EO’s 2023 EmpowHER virtual series on 7, 14 and 21 March (the first three Tuesdays of the month). EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Brian Smith, founder of UGG Australia; Aanchal Bhatia, founder of Sydenham Clinic, Hannah Vasicek, founder of Francesca, and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!
Contributed by Brooke Lively, an Entrepreneurs’ Organization (EO) member in Fort Worth. Brooke is founder and president of Cathedral Capital, which provides strategic financial advice to drive profit by creating customized teams of financial professionals to analyze data trends and guide entrepreneurs through their numbers so they can predictably scale and grow their businesses. Brooke recently shared 4 Timely Business Lessons to Improve Your Company’s Future Profitability on EO on Inc.
I love what we at my company call the “quiet period”. That time between Christmas and New Year’s when we don’t schedule client calls or meetings with colleagues. The week that we use to catch up and think. And it’s the thinking that I find most valuable.
What worked this year? And the reverse of that same coin: What didn’t work? What will we continue to do, and what do we need to delegate, automate or simply eliminate?
Note what didn’t work
Let’s start with what didn’t work, because that is where everybody always focuses. Take a step back and look at this year’s initiatives. Which ones didn’t work and why? And don’t just settle on the first why—really dig. Was it the wrong time of year, or did it not have the full support of a really well-thought-out marketing campaign?
Where are the bottlenecks in your company? These are always great places to find efficiencies and therefore leaking profit. My caution to you here is, again, don’t settle for the surface problem. Keep asking what we call the AWE question, “And What Else?” And what else could be causing that? And what causes that? And what causes that? Keep asking until you actually get to the root cause of the bottleneck or problem. Stop treating the symptoms in your business and start treating the actual problems.
Don’t overlook goals achieved
But it’s the things that did work this year that I want you to think about the most. Dan Sullivan wrote a book called The Gap and the Gain after discovering that entrepreneurs suffered from a high level of depression and dissatisfaction. They felt like they were always reaching for, but never achieving their goals—even when they were really successful. Can you guess why? Because every time they got close to a goal, they moved the finish line.
I remember trying so hard and for so long to hit that elusive US$1 million mark in revenue. I scratched and clawed my way toward it with incremental progress. I felt like I would never get there.
And then one night I was at an EO event, and somebody asked me when I would graduate from EO Accelerator and join EO. “As soon as I hit US$1 million in revenue, of course,” was my response. They asked how close I was. Close, I thought.
So I pulled up QuickBooks on my phone, and it turns out I had annualized US$1 million in revenue a couple of months earlier. And I had missed it. Why? Because I had already recorded several months over $85K, so I had moved my monthly goal to $100K.
I moved my goal from US$1 million to US$1.2 million so fast that I never noticed I had hit my original goal. I didn’t stop and celebrate. When you do this, goals become like the horizon—no matter how fast you run, how much you sell, or how hard you grind, you will never reach it. And that is demoralizing.
Celebrate your successes
So take the quiet period this year and look back. What were the milestones you skipped over almost without noticing? What projects went well? What parts of your business are running like a well-oiled machine? Pick those out. Celebrate them! Then dissect them, because they hold the secret to your profitability.
By Dr. Carrie Santos, CEO of Entrepreneurs’ Organization
2017 feels like a very long time ago. The world has changed significantly. A global pandemic. A brutal war. A stressful squeeze on global supply chains. A surge in extreme weather disasters. The rise of ‘fake news’. It is a time that has tested many of us.
Yet, as I mark five years leading the Entrepreneurs’ Organization (EO) as its CEO, it’s a good time to reflect on five key insights gained from such a remarkable community of business founders. These are lessons I have learned, thanks to all of you.
EO’s members are builders, founders, owners and leaders in their own right. Each possesses the unique traits of entrepreneurship. When I took over as CEO, I quickly realized the challenges ahead: how to best serve, unite and lead other leaders. Which of my experiences could have the greatest impact on an already successful group of people? How can I help them grow as individuals, and help us grow as a community?
I have learned so much from EO in these last five years. Let me share five of my takeaways, gained by learning together with such extraordinary people. Some might be helpful for you, too.
1. Actively listen to find the gold
Learning is a full-time job: 24/7, 365 days a year. We must always be primed to learn, because we never know where or when someone might share something we didn’t know we needed to hear.
At EO, we are lucky to have such a wide range of experience and expertise across our membership that the moments of real insight are everywhere. We are offered in conversation with each other what I describe as little golden nuggets of wisdom. But we need to be present and listen, or we will miss them. In the moment, on the job, experiential learning can happen, so long as we are always open to insight. It can be how to handle a customer complaint, how to stay calm when your teenager is exasperating, or how to deal with a parent’s dementia. When you believe you can learn from each person’s wisdom, you will find it.
2. Look for the global context in local business conversations (and vice versa)
With members in more than 70 countries, EO is truly global, but that does not mean that our members around the world share the same culture, views or experiences. Local context is so important, and is vital for shaping a person’s worldview. We start to see the commonalities that connect us. Those shared concerns and dreams.
I have been privileged to travel extensively over the last five years and I have gained new perspectives on issues that I thought I well understood. Different countries have different mixes of industries, and within them, different challenges, but also unique successes. Entrepreneurs everywhere are wired similarly, even as they work in varying environments. Again and again, I get to watch members from different continents connect as they realize they appreciate the same business guru, fitness coach or author.
3. Know and practice our failure narrative
This should be second nature to a community of big-thinking and bold-acting founders who are well-versed in picking themselves up, dusting themselves off, and starting again when things did not work out the first, second, or even third time: know your failure narrative. It was new to me after arriving at EO to learn that I did not have to keep on my armor of perfection and infallibility, and there was much more to learn by being vulnerable about my weaknesses and disappointments.
Without being honest with ourselves about why our strategies went awry, we cannot improve. The most successful entrepreneurs do not get wrapped up in the blame game, and instead say, “hey, what can we learn from this?”
The same holds true in the stories we tell each other. We know when listening to someone who insists their life is one success after another, we tune out because they are not being honest with us or honest with themselves. But when we look inside to those tough lessons that shaped us, and we share our full narrative, others can also see themselves. That support we get when we show ourselves not at our best—and realize we are accepted even more—makes it possible to transform and to move forward. Stepping back and seeing a mishap as a learning opportunity is like entrepreneurial magic.
4. Thank people who challenge us
This is so simple once you realize it. If we do not thank people for challenging our thinking, for stress-testing our ideas, or for pushing back on our instructions, then they will never do it again.
Diversity of thought is so key to progress, and we must do everything in our power to encourage that. It starts with thanking those who stand up to us. Give yourself a moment if you need to, put down your defenses. Say thank you. And be sure you mean it.
5. Be ready to let go – even when trying to build a consensus
Even the smartest person in the room’s idea will be improved by a fresh point of view. I know plenty of people who pay lip service to generating consensus, but then dismiss new ideas because they are already set on what they want. Instead of listening for what is good in someone else’s idea, they are running through in their head how to win more people to their side and push harder.
If we took the energy we spend on defending our approaches and focused instead on putting the elements of different ideas together, we would get a much better outcome.
Creativity should not be an individual sport we try to win for having the best idea. It takes much deeper creativity to combine what is best from multiple points of view and design a shared outcome. Learning this is a team sport that is one of the most challenging leadership skills to master. Partnerships must be equal and genuine. If we are only focused on what we want when we enter a dialogue, then we have missed an opportunity to build a real relationship with our peers. The bonding and buy-in we get when everyone knows the outcome is truly a collective effort is unparalleled.
Truly, my most rewarding and memorable experiences at EO these past five years were spent in collective problem-solving. You start the day with your preferred solutions and approaches, and by the end of the day, the group’s accomplishments far surpass anything you might have imagined on your own. Imagine how constructive it would be if we all practiced this not just in our businesses, but in our countries, communities and families! Imagine how we could unlock our full potential to move the world forward.
Who knows what challenges and learnings the next five years ahead may hold? With these takeaways from my first five years at EO, and skills in listening, honesty and collaboration, it’s clear that the future is limited only by our imagination. Whatever may come, I feel a deep sense of gratitude and respect for the thousands of amazing entrepreneurs and business leaders across EO and our partner organizations who have helped shape and strengthen me and our team along the way. Leading EO is an honor and an education.
Happy Global Entrepreneurship Week!
For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.
Contributed by Kate Holden, an entrepreneur, philanthropist and business leader who is currently president of EO Winnipeg and serves on the EO Canada Board as Canada’s Member Products Director. Kate is the founder of The Pourium, a fast-growing retail/e-commerce wine business.
In EO, we often talk about the Four Quadrants—business, family, community and self. We also talk about the Four Capacities—physical, intellectual, emotional and spiritual.
After years of Forum, leadership training and learning events, I realized: Entrepreneurs tend to be the least comfortable in the “self” and “soul” areas (myself included).
You may relate to how I once felt about those areas.
I spent the majority of my life aligned with the classic entrepreneurial archetype. You know: The entrepreneur who believes “fast” is too slow and “tomorrow” might as well be next century. I’ve always prioritized growth and acceleration. So, thinking about “the soul” felt slow, intangible and far-removed from my business goals. It felt difficult to wrap my brain (and time) around.
I’m a dreamer, but I’m also pragmatic. I’m a do-er, a happen-maker. Working on my “soul” didn’t seem to fit.
When a fellow entrepreneur introduced me to a Spiritual Coach, I was hesitant—to say the least! But, after nine months of working with my Spiritual Coach, my perspective shifted—and I began to find value in spiritual growth in a way that didn’t feel too “out there.”
When it came time to design a theme for EO’s 2022 Canadian Regional Leadership Summit, I knew I wanted it to focus on the soul.
We spent four days in Toronto listening to presentations, engaging in workshops, and being guided by four women experts. Topics included tarot readings, manifestation and visualization, energy and chakra alignment.
Here are the three biggest learnings my brain (and my soul) took away from the Summit.
1. Spiritual Work = Showing Up As our Best Self
One of the biggest misconceptions about spiritual work is one I shared until recently: That it brings no tangible value or ROI to our companies.
What I learned is that the biggest ROI of spiritual work comes down to the way we show up as leaders.
I hadn’t thought of it as a practice of the soul. Yet, much of what the world’s top leadership thinkers talk about comes down to perspectives, soft skills, mindsets, emotional intelligence (EQ), values, intentionality—all things that are less connected to the brain and more connected to the heart (or soul).
We can learn habits and hacks to help us become better leaders, but we can’t “right-brain” our way into being empathetic, visionary, strategic and connected. The soul helps us fill the large gaps the brain can’t fill on its own.
2. Energy is Everything
I’ve known that energy management is important: Studies confirm that up to 63 percent of entrepreneurs are dealing with or have experienced burnout. It’s a real phenomenon. Leaders struggle to manage wellness in the face of long hours and escalating pressures.
During the Leadership Summit, I learned that energy is not just causally connected to our circumstances; the energy within us is often carried forward. The past is entrenched within today’s energy and affects us, whether we realize it or not.
I hadn’t thought of energy as something that gathers experiences and lives within us. But energy is dynamic—literally!—and our energy fields, or quantum fields, need to be “unblocked” on occasion to clear out that previous build-up of past energy.
Other people can also have a significant effect on our energy. It’s rarely malicious or toxic, but from employees to family members to friends, people tap into our energy because they need it. After interacting with them, you may feel exhausted. Those relationships feel depleting.
“Unblocking” or “resetting”— whatever you want to call it— is a practice which helps recalibrate our energy and ensure we’re accessing the best versions of ourselves.
3. Explore Your Belief Systems
Perhaps the most powerful outcome of spiritual work is the opening, dismantling and resetting of belief systems that underpin everything we do.
The four brilliant women at the Leadership Summit all spoke about belief systems (or “vortexes”) as thoughts and behaviors which keep us locked into certain patterns. Sometimes these are harmless, smaller belief systems we established as kids; sometimes these are fundamental, big-picture belief systems that affect who we are, how we run our companies, and how we engage with our communities.
This process can be an emotional one. I’ve learned, for example, that I have a tendency to source validation in my work output. As a result, I say “yes” way more than “no” when it comes to a new project, leadership role, or professional responsibility.
As a result, I end up taking on more than I can handle. I tie my identity to the things I accomplish, and I deplete my energy on projects that do not always bring me joy.
We rarely realize it consciously, but our belief systems govern everything from decision-making to our ability to dream to our leadership styles. We all have ingrained belief systems. They frame our lives—and sometimes they have lenses or tints to them. Shouldn’t we check in on them every so often?
Spending four days at the 2022 Canadian Regional Leadership Summit talking about the soul was enriching for me (yes, the person who wouldn’t have ever seen herself as a “soul person”).
It doesn’t matter whether you believe in past lives, energy shifts, souls, chakras and auras. I’ve learned that spiritual work is a little like reading a book from an entirely different part of the bookshelf. You may not align fully with the author’s perspective, but you unquestionably learn something new—and it can change you on a deep level.
Looking back, it amazes me: Our remarkable group of seasoned entrepreneurs showed up to such a foreign and, at times, uncomfortable topic with open hearts and open minds. It wasn’t about the specifics of the material; it was about exploring another angle to elevate their leadership capabilities, connect with others and understand themselves.
I left the Leadership Summit with my quantum energy fields bouncing with positive energy. Thank you to everyone who attended!
Contributed to EO by Eden Gillott, who is president of Gillott Communications, a strategic communications and crisis PR firm. She’s the author of A Business Owner’s Guide to Crisis PR: Protecting You & Your Business’ Reputation, an EO Los Angeles member, and that chapter’s Accelerator co-chair.
We asked Eden about the similarities between entrepreneurship and crisis public relations. Here’s what she shared:
1. You’re a small percentage of the population.
As an EO member and entrepreneur, it’s easy to forget that most people don’t own businesses. According to Verne Harnish in Scaling Up, “There are roughly 28 million firms in the US, of which only 4 percent ever reach more than US$1 million in revenue.” It’s why the EO Accelerator programme trainers always remind EO members and Accelerator participants in the room that we’re breathing rare air. Similarly, Crisis PR is highly specialized in the world of public relations.
Recently, I went to a going-away party for a Fortune 10 company employee. The group was complaining about their various bosses, an upcoming reorg they felt was handled poorly, and the breakdown in how company expectations for their departments were being communicated.
The discussions at that going-away party are the type of things that I, as a crisis manager, strive never to have happen in the first place. I work to minimize brand damage when disgruntled employees stir the pot. It’s all about managing perceptions. If employees are unhappy about how things are handled or communicated, it’s on us as company leaders and crisis managers to fix it.
2. You don’t shy away from risk.
As an entrepreneur, you step up to do things most people won’t.
And sometimes, running your business can feel like you’re managing a new crisis daily. Or, like many entrepreneurs in EO, you own multiple companies, which means your life feels like organized chaos.
Crisis PR isn’t about playing it safe. It’s about doing the things most people are uncomfortable doing. Crisis managers live for the adrenaline rush of charging full speed ahead into a crisis.
3. You’re a team player.
We didn’t get our businesses to where they are by working alone. Our team sizes vary from a few employees and partners in the same city to thousands spread across the globe. We know we’re better together.
Even the statements you see during a crisis are a team effort. The communications that come out are not created in a vacuum. Paragraphs are blended, quotes and commentary are incorporated, and legal is always consulted before anything is uttered or published.
4. You’re great at spotting trends.
While you’re excellent at spotting trends, you also know that what worked in one situation may not necessarily work in another.
Each situation is unique, which is why you’ll hear me say, “This sounds very similar to other clients we’ve worked with.” But I’ll never describe it as “exactly,” “identical,” or “just like” anything I’ve handled in the past. You learn from experience, but only so much.
5. You fight to guard your time.
“Hold on. I need to go handle something.”
You slip out of your seat at dinner to take an important phone call. You peel away from a party to send an email (even if it’s to delegate the crisis to someone else).
Crises are no respecters of time. They don’t care if it’s a weekend or if you’re at a special event. For both entrepreneurs and Crisis PR managers, time boundaries are often blurred or nonexistent.
6. You take knowledge and apply it.
As entrepreneurs, we’re constantly learning and figuratively downloading into our brains the new trends and principles to apply to our businesses. We know there’s a difference between the iconic scene in The Matrix when Neo confidently says, “I know kung fu,” and applying what he learned to win against Morpheus. Neo still needed the hands-on experience (no pun intended).
Similarly, seasoned crisis managers have what feels like a terabyte of scenarios and playbooks stored in their heads. The compounding effects from the never-ending parade of possible variables empower us to tackle a crisis head-on and make it look easy.
For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.
Is seeing the world-famous Southern Lights phenomenon on your bucket list? The Aurora Australis—also called the Southern Lights—is the southern cousin of the Northern Lights. To witness this breathtaking spectacle, you would need to go as far south as Tasmania—but even then, the chance of seeing the Southern Lights is spotty at best, with only a 1-2% chance on any given night.
For those who want to ensure that they’ll see the Aurora’s spectacular light show, Rachel Williams of EO New Zealand has the solution. Rachel and her company, Viva Expeditions, created a service called Southern Lights by Flight. It flies guests from Christchurch, New Zealand down toward Antarctica and through the Auroral zone and back—all in one unforgettable night!
We asked Rachel about Southern Lights by Flight. Here’s what she shared:
Is it true that Southern Lights by Flight was your Covid pivot?
Yes. Pre-Covid, we specialised exclusively in travel to Latin America and Antarctica. The pandemic was a terrible time as all business ceased, followed by repatriation, refunds, redundancies and pretty much every cost-cutting thing we could do other than complete hibernation. We needed to do something to generate revenue until international travel resumed and Southern Lights by Flight was our solution. Not only have we filled the gap, we have also created a quality sustainable product that will continue into the future.
Is your company the only one offering this unique opportunity?
We created the service and are the only ones running it in New Zealand. I reached out to an astronomer who I knew had organised a similar experience for his friends and followers but it had never been commercialised. I asked him to help me, and he agreed. So we went to the airline, chartered the plane, and brought our own astronomy team onboard to assist the pilots with navigation.
Our business partners in Australia subsequently launched similar flights. However ours is different in that:
New Zealand is further south than Australia, so it takes us less time to reach the active Auroral zone, and we can stay there much longer. We have an exclusive contract with Air New Zealand, so replication is not possible at this time.
The International Antarctic Centre is located next to the airport in Christchurch. We have enhanced our guests’ experience by including an inspiring pre-flight mission where people learn from astronomers and NASA educators about the Aurora and can join photography sessions prior to the flight. (See our guests’ in-flight photos in our Facebook Group.)
What challenges did you overcome around organizing flights to see the Aurora?
We coordinated with Greenpeace—they worried about unnecessary burning of carbon—so we have a thorough carbon offsetting programme in place.
We had some upset families of the Erabus disaster (when a plane full of New Zealanders crashed into Mt. Erabus in Antarctica 43 years ago). We don’t go to Antarctica but there was still a lot of push back.
We have dealt with aircraft availability restrictions, rescheduling flights due to Covid lockdowns, and navigating constantly changing rules about gathering sizes, vaccination status, etc.
We had to reschedule eight flights due to Covid lockdowns and have managed to get three away, with lots of people still waiting for upcoming flights.
We have done it all with a team of four (we were 14 pre-Covid)
Though there are no safety issues around flying through the Aurora, we also manage things like:
All cabin lights are turned off when in the Auroral zone, so we provide everyone with a red light torch that allows them to see without impacting their night vision.
We have special permission to turn off the plane’s outside safety lights (wingtips and roof lights), but this is done on the basis that there are no other planes within 3,000km of us at the time of flying.
How are you increasing environmental awareness?
At our pre-flight mission at the Antarctic Centre, we do a great presentation about the environment and how important Antarctica is in environmental protection and the work being done by aerospace experts in the field. We find that people who have a passion for Antarctica are more likely to help protect it, so we aim to transform our guests into Antarctic ambassadors.
What does the total experience entail?
The flights itself is 10 hours, departing Christchurch at 7pm and returning to Christchurch at 5am. So basically it’s:
3pm – International Antarctic Centre pre-flight mission experience
5pm – Check-in and welcome drinks
7pm – Boarding
Dinner on the plane before all lights are turned off and Aurora viewing begins
Lots of fun throughout the night, approximately 6 hours of Aurora viewing
3am – The lights come on for breakfast
5am – The plane lands and everyone disembarks feeling tired but completely thrilled
What entrepreneurial lessons have you learned from this experience?
To think outside the box.
How to market with a zero dollar marketing budget.
How important it is to look after yourself in order to run a successful business.
How important relationships are, and why working collaboratively is often a better approach than straight out competition.
What’s next for you?
I’m going to Antarctica in November, so I released a MyEO trip to see who wanted to join me. I now have 66 EO members coming onboard—which is fabulous.
We have just launched a 2023 Epic Antarctica MyEO Event and will have two very special guests joining us: Professor Mike Stroud OBE, the first man to walk unsupported across Antarctica and the Right Honourable Sir John Key, former New Zealand prime minister and businessman.