Idea Cafe Small Business Grant Report from Laura Koehne, of www.ThriveAgainstTheGrain.com, Takoma Park, MD, USA

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Idea Cafe's Small Business Grant Winner's Reports

Report from Laura Koehne
of www.ThriveAgainstTheGrain.com
of Takoma Park, MD,
Winner of Idea Cafe's Al Marks Inventive Mind Grant

Laura coaches people who have a change or decision that they want to make that others think is crazy. She will use Idea Cafe's $1,000 grant to develop an audio product called "Postcards from the Road Less Traveled" which will feature a series of interviews with people who have made daring changes in their career and/or lives.

We've asked Laura to report monthly on on her accomplishments, lessons learned and challenges so you can follow her progress and get tips you can apply in your own business.

Laura's Reports:
Scroll down to get insights from Laura's reports from the beginning (right after she won the grant) through each month after...
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Here's Laura's first report for September, 2007:

Top Business-related Accomplishments for the Past Month:

Hooray! Welcome to the first installment of "What's up with Laura and the Grant!" I am still stunned about winning this money. I bounce between being overjoyed and being petrified because now I actually have to walk my talk!

My accomplishments this month have mainly to do with getting my head around the next steps. I am energized and have been collecting references of good audio people. My web designer is finalizing a new site (sans ecommerce portion for now until I get the products ready to put up) and I've been working with Francie on how to celebrate and promote the grant with a bang in mid-September.

So stay tuned! We'll have lots to chew on next month!

Business Lessons Learned or Problems Encountered:

During the grant contest process I realized the amazing base of support I have for this project. Even in the semifinals I decided that I would go forward with the project regardless of whether I won because I received such an outpouring of encouragement -- even from people I don't know personally. But the grant just makes it so much easier to do it! Thank you all!

Another important lesson was the reminder that our relationships -- personal and professional -- are an invaluable asset. Don't wait until you need something to cultivate meaningful relationships. Base relationships on your genuine interest in how you can support others and get to know your business contacts as people and they will care about you as a person. These relationships will comeback to help you in spades.

(If you are interested in this concept of networking I recommend Keith Ferrazzi's book, Never Eat Alone. Great reminder that business relationship are just relationships, period, and good strategies for managing your relationships.)

Top Business Goals for the Next Month

This month I will:

Celebrate this win!
Schedule at least 2 additional interview subjects for the Postcards product and start promoting (Can't wait to share who it will be!)
Figure out the audio production piece -- see I can't even define it well. Start by outlining in greater detail what has to happen to develop this audio product!

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Laura's report for October, 2007:

Top Business-related Accomplishments for the Past Month:

"Life is what happens when you are busy making plans" It's a cliche, I know, but it has been one of those months! I've been productive and hyper busy but did little of what I had originally planned.

The good news is that I've been collecting the building blocks for my Postcards audio project. I'm seeing that the audio part of this isn't as daunting as I had assumed.

Here are some of the accomplishments on the Postcards project:

I contacted several people that I find inspiring to interview and tentatively scheduled one in a couple of months. When we get things firmed up, I'll tell you all about her...an amazing, interesting woman with a very unique niche in the arts. (Want to hear more? sign up for my monthly eZine and get the announcements! www.ThriveAgainstTheGrain.com)
I am currently speaking with audio engineers who can help me get my mastered CD together. Let me know if you have a referral to someone in this space!
I've got a contract to use with my interview subject
I've found a print-on-demand fulfillment house to use.

Business Lessons Learned or Problems Encountered:

My big issue this month was that my domain name registrar let my web domain registration lapse (instead of auto renewing as they have in the past.) So suddenly my website and email were completely shut down. My communication life line was gone!

I'd had credit card disputes with this company over the past year, and had even reported them to the BBB, so they really had me in a pickle.

The short story is that I did get my domain back after two weeks down time. I won't name the company here, but highly rec commend anyone who is looking for domain registration/web hosting/ecommerce systems to DO YOUR HOMEWORK! Get referrals and research the web for complaints. Had I done this I would have found the many complaints about the company at the Canadian BBB other web forums.

My other learning: Keep your own calendar. When you sign up for an annual renewal or other subscribed service, note the expiration date on your calendar right away. If it's important to your business there's no harm in having two reminders! This would have saved me a lot of frustration and risk.

Top Business Goals for the Next Month

This month I will:

Launch my new website
Schedule a Postcard interview for Dec 2007
Start promoting the Dec event
Enjoy the process!

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Laura's report for November, 2007:

Top Business-related Accomplishments for the Past Month:

Wow! So much can change in one month! Here's the big news: I started a full-time job this past week. It has been a bittersweet, but necessary, decision and a very good one. Sometimes the right thing to do is to take a job to give stability while you rethink your business plans. I count this as a business accomplishment!

I am doubly blessed that my new position relates to workplace learning and draws upon the coaching, training and professional development work I do. So far, so good. I'm very excited about the impact I can have.

So what does this mean for THRIVE against the grain? I'm not "closing shop" rather focusing on a different business model. I need a business that can scale and provide more "passive" income without consuming every waking moment.

As a sole proprietor in a service business, there are only so many hours that one person can deliver service. You are limited by your time (and remember there's overhead like marketing, admin, etc. -- that also needs to be done.) If you don't find a way to leverage your time you will hit a ceiling. If you see this coming, it's probably time to rethink the business model.

So that's what I'm doing. It's actually GREAT for my "Postcards from the Road Less Traveled" project because my focus will be on information products where I create content that then gets used in a variety of ways. These past months I haven't been able to put much time toward Postcards, and I'm looking forward to it.

Top Business Goals for the Next Month

Find my balance between full time employment and my business, THRIVE against the grain.

Announce the Postcards from a Road Less Traveled interview schedule to start in January 2008. I have 2 people tentative scheduled, I'd like to announce the first 3.

THRIVE! And enjoy the holidays! I have a lot to give thanks for. How about you?

PS: Speaking of content, here's something new from THRIVE against the grain: A special report, "10 Strategies for Radical Career Change -- Without Leaving Your Desk!" f you are frustrated in your job, or in your business, don't assume you need to jump ship. Sometimes what needs to change is YOU. Check it out here:

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Laura's report for December, 2007:

Top Business-related Accomplishments for the Past Month:

Most exciting news! Miriam Feder, a truly inspiring, creative and infectious person, has agreed to be interviewed by me -- in January -- for the Postcards from the Road Less Traveled audio series.

Miriam Feder is a writer, performer and passionate storyteller who weaves, "...words and emotions into pieces that help us remember who we are and where we come from." AND she is well versed in taking the road less traveled! Listen to Miriam's audio-story-vignettes to hear how this "recovering lawyer" has examined her life, tried tons of different things and bucked convention in her search for self. Just like so many of us.

DO NOT MISS MIRIAM! She's funny. She's observant. She cuts right to the heart of the matter. She's going to give us tips for living to the fullest on the road less traveled!

In the next couple weeks, I'll send personal invitations for my teleconference with Miriam Feder. Sign up for my newsletter to be sure to get the all the details.

Business Lessons Learned or Problems Encountered:

It's been a good month: I've continued my coaching practice while settling into an interesting and challenging new full time job. I've had lots of great feedback from clients, prospects, potential joint venture partners, and my new bosses.

Without a doubt, the way I use my time has shifted. And that sometimes frustrates me. I used to sit down to dinner with my daughter and husband every evening - a ritual I cherished - but my work-commute doesn't permit that now. So, instead of losing that connection time, my new strategy is to sit down with my family for breakfast.

One lesson learned is that work-life balance is largely about your perspective on things. It's a rare person who literally finds balance in any lasting way, because it's not a static situation. What is balance anyway? "Work" or "Life" - it's ALL life. If you are happy doing what you do in your hours and still connect regularly with people you love, then perhaps you've found something akin to balance.

Top Business Goals for the Next Month

Just two...

Continue to enjoy what I do everyday, stay present and connected with my husband and daughter, and be open to the fascinating people I run into every week.
Promote the interview with Miriam Feder and announce the February interview as well.

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Laura's report for January, 2008:

Top Business-related Accomplishments for the Past Month:

December was a month of reflection as I spent time carefully choosing priorities as they relate to my business and the balance between family, personal and professional activities. As you may remember, I'm juggling a full time job with my own enterprise. Working out a business model that enables me to do both things well has been my work this past month.

Business Lessons Learned or Problems Encountered:

Here's something I did as part of my reflection this month:

For insight AND a way to lighten up the gravity of business planning, try envisioning your life or business in 2008 from different perspectives. Walk through at least 4 different ways of looking at your situation. The twist: use vegetables to set the perspectives you use!

When I did this my imagination encompassed my life, which seems very much in flux right now, from the perspective of an eggplant (yes, this exercise is crazy and silly and creative - isn't that wonderful!?) I have always admired the beautiful purple form of eggplants but have been completely at a loss with what to do with them. Good eggplant is delicious but my few attempts at cooking them have been dismal. So looking at my life in 2008 from the perspective of an eggplant had a quality of yearning for the beauty of what is coming with fear that I don't know how to do what needs to be done.

Carrots remind me of my childhood when I ate a lot of the carrots we took to the barn for the horses. These vegetables are sweet and crunchy and addictive. I can be mindless when eating carrots because they are healthy (no worries about calories or fat) and I just crunch, crunch, crunch right through them. From this perspective, my life in 2008 can be sweet and easy but almost mechanical. The texture is lovely but there's not much variety or pizzazz.

Now onions! I really enjoy cooked onions but slicing them is hell. My eyes are very sensitive to onion and stinging tears start flowing almost immediately. The few minutes of discomfort is almost always worth it, and is necessary in order to cook many delicious dishes. This view of 2008 shows my life to require some sacrifice and discomfort in order to get the results I want.

I won't bore you with my forth veggie - I think you get the picture. The final step in the exercise is to review your perspectives and choose the one, or combination, that resonates most with you. Which is the most exciting to you? What feels the most motivating? Use these perspectives to choose how you want to think about your life/business in the coming year.

In my case, I choose to view my life in 2008 as a combination of eggplant and onions. It's gorgeous and seductive AND I have no idea how to prepare it. Yet, with a recipe (aka plan), and possibly a little discomfort in my efforts, I will create something delicious.

I hold this "big picture" for 2008. And challenge you to create your own glorious dish with your own perspectives exercise.

Top Business Goal for the Next Month

Launch my new website. (Maybe I'll add a photo of an eggplant to the site. Only you and I will know what THAT means! *wink*)

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Laura's report for February, 2008:

Top Business-related Accomplishments for the Past Month:

Wow! Thank you Francie Ward and Idea Cafe for the support and opportunity you give to entrepreneurs! You are a treasure.

What a 6 months I've had since winning the Al Marks Inventive Mind award! At the heart of it, I have not created the business I had set my sights on and I am not at all where I'd expected to be when I applied for this grant nearly a year ago. In fact, life circumstances required that I return to working full time for someone else. My business is not lost, but significantly scaled down, and a large part of my focus in this past six months has been balancing work and family plus inching along in my now part-time business.

Thing is, with U.S. Bureau of Labor Statistics showing that 6 in 10 businesses shut down within the first 4 years, I know that my story is not unique. With that thought in mind, here are a few lessons learned that I hope will provide both caution and comfort to you as you start your business.

Business Lessons Learned or Problems Encountered:

Tip #1 -- Get clear, REALLY clear, about your finances.
Filled with passion and optimism and ready to go, I was not terribly realistic about what I needed to have in the bank to start my business. It isn’t that my solo practice has much overhead, but the dip in income that my household experienced was terribly stressful. I’ve heard this time and again…it’s common for entrepreneurs to underestimate the capital they need, AND the time it will take to generate cash flow. A business starves from lack of cash. When the owner can’t afford to bridge the gap, a promising start up shuts down prematurely. Be conservative and work with a professional to create a realistic financial plan that will cover sunk start up costs and carry you through until your business is cash flow positive.

Tip #2 -- Get clear with your family about the role of the business in your lives.
In addition to money, another critically limited resource for an entrepreneur is time. Sometimes people say they want to start a business so they won’t have to work as much. No siree! If you are taking your business seriously, the early stage is likely to require a great deal of your time. You’ll be wearing a lot of hats and doing a most of the work yourself. It’s essential that your family members understand your commitment to the business and how that impacts them. Have these conversations before you start to avoid frustration and the additional stress that comes from negotiating this territory while trying to run a business.

Tip #3 – If it doesn’t work, don’t despair!
OK, sometimes the business doesn’t make it. But, life is about the journey, not the destination and the wisdom you gain in starting a business (whether it works or not) is invaluable. Your knowledge will help you with whatever you decide to do next. Maybe you start another business with a lot more clarity of what you want to do and how to accomplish it. Or maybe you parlay your experience into a very satisfying position within another company.

In my case, the clarity I gained about what I love as a coach to do helped me focus a job search in those areas. I landed a job doing training and development work that I really enjoy, for a company that values a “thrive against the grain” mentality. My experience as coach and entrepreneur helps me to be more successful and independent within the structure of the organization, and the organizational work gives me an even richer experience to bring to my coaching clients. For me it’s a win-win experience.

If your business doesn’t make it, parlay what you learn into a powerful next step for yourself. Don’t think in terms of failure, think in terms of journey! For additional thoughts on how to re-frame the concept of failure, here’s an article that will be of interest: Debunking the Myth of Failure.

So with that, I bid you adieu and wish you tremendous success in your business. Set expectations early and continue forward powerfully as an entrepreneur on the road less traveled. I'll see you there!

PS: Some may wonder, "What did you do with the grant money?" The answer is "nothing yet." Every penny is in my account and waiting to support development of the project I described. I pledge that I will create what I had intended -- a business, however small, that provides support to the cause I believe in. It will happen sometime in the year, although it may not look exactly as I'd originally envisioned it!

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Read why Idea Cafe chose Laura to receive this grant

Also, check out Laura's Business Profile here at Idea Cafe.

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To see more grants: government grants, SBA, corporate, more private grants, enter Idea Cafe's Free Grant Center for Small Biz -- a privilege for registered Idea Cafe Regulars only. GO!

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