FOR IMMEDIATE RELEASE
The Entrepreneur Within You Movement Continues with the Release of Volume 2
Chicago IL July 9th, 2014Following up on the success of The Entrepreneur Within You and the subsequent following the first book helped garner, book creator Julie M. Holloway has directed another edition in the series.
The Entrepreneur Within You: Volume 2 (220 Publishing) is the second title in the series containing a collection of real-life stories from 18 living, breathing, inspiring entrepreneurs. The Entrepreneur Within You series is an inspirational business anthology that not only shares with the readers how their path to business ownership began, but, also includes diverse and encouraging personal stories of challenges conquered. The book is filled with tips and tools aspiring entrepreneurs can use to accomplish their goals despite facing their own obstacles. “The experiences that our writers share concerning how they have overcome things while pursuing their passions will motivate all who read it” quoted Holloway about the recent release. “We are fulfilling our destiny by allowing real entrepreneurs a platform to share their trials and their triumphs.”
Holloway left her 16-year career as an executive assistant at various fortune 500 companies to pursue her dreams becoming a creative designer. JMH Cre8ive Solutions, the brainchild of JMH “the artist” is operated by Julie and her husband Darnell, with assistance from her “kidpreneurs” Jasmine and DJ.
The official release celebration of The Entrepreneur Within You 2 will be held August 9th, 2014 at Bites Asian Tapas in Chicago. Attendees can RSVP through Eventbrite. For more information visit the web site at www.tewyou.com.
In 2012, an accounting error that went unnoticed for four years cost the Mohegan Sun casino $1.5 million dollars, the Hartford Business Journal reported. While the average small business accounting error won’t be that expensive, you gain more than peace of mind by keeping your books in order. Due to errors, you might might overpay expenses, as the Connecticut casino did. While Mohegan Sun is set to be reimbursed more than $360,000 by the State of Connecticut, it won’t be so easy to get overpayments back from clients. Hedge your bets by watching for these five accounting errors.
1. Not keeping invoices organized – If you need to look through stacks of paperwork to find out whether that contractor paid up, you’re not organized. An invoice tracking procedure ensures you quickly see who owes you money, how much they owe and when the invoice is due. This way, you can follow up on past due invoices faster and keep track of income and expenses. For a low-cost invoice management solution, try either a paper-based file system on your desktop, or the free Invoice Tracker template for Excel.
2. Waiting until tax time to reconcile the books – Many people put off reconciliation because it can be time consuming; however, if you wait until tax time to reconcile the books, you might make miscalculations and not have sufficient time to dig deep into what happened. Set aside a dedicated time each week to reconcile bank statements and check any tax obligations. Come tax season, most of your records will already be organized.
3. Miscalculating tax withholding – For salaried and hourly employees, mistakes in federal income tax, state income tax, Medicare or Social Security withholding can lead to inaccurate tax payments or IRS penalties. Save time and ensure consistent accuracy by using a paycheck calculator, suggests Intuit. Enter the hours worked and the rate (or salaried information) into the template, select the appropriate amount of withholding based on the employee’s tax forms and hit the “Calculate” button.
4. Not keeping business receipts – It’s easy to mistake a business receipt in your wallet for a personal receipt and toss it in the garbage can. However, this makes it challenging to reconcile books and report income and expenses on your taxes. Cultivate a habit of saving every single business receipt by keeping a separate envelope in your car and your bag. Each time you purchase something for business, put the receipt in the special envelope. Periodically clean out the envelope and file the receipts.
5. Misclassified expenses – When you’re in a hurry, it’s easy to quickly select a category for a given expense or skip classifying the expense altogether. However, this can lead to false reporting. If someone isn’t paying close attention to reported expenses, you can inaccurately forecast trends and make poor business decisions. Regularly look over expenses to see whether something looks amiss.
An excerpt from The Entrepreneur Within You (book) – chapter written by Julie M. Holloway (www.tewyou.com)
My 30-day review
Somewhere around Thanksgiving 2011, I hit my 30-day mark as a full-time entrepreneur. I remember thinking to myself, wow, remember when your boss would sit you down and recollect how you did in your first month? Normally, that would be an antsy and eager conversation – especially on a new job.
So, I thought to myself, let me sit down and rate myself. How am I doing thus far?
Here’s a snippet of my 30-day report card:
- Organization: D+
- Work/Life Balance: D-
- Creativity: A+
- Customer Service: B
- Finances: B
- Social Media: Addicted
- Marketing/Advertising: C
Let’s summarize for a moment.
After making the 30-day mark, I realized it was time to sit down with myself, “aka JMH” and have an honest conversation. I had just worked 30 days straight, not taking one day off. Weekends were a blur, as was every day of the week. Heck, I don’t think I even knew what day it was at certain points in time; thank goodness my son told me every day at breakfast. Although I was a former executive assistant, my organization skills from day to day were not so great. The days would melt together from the time I cracked open my first package of coffee to the time I cracked opened my nighttime red tea. I hardly took a moment to breathe, let alone see the sunshine. I was STILL a workaholic and that is the main thing I told myself I would never do! Yep, I wasn’t taking the requirement of work/life balance seriously; I had to make some immediate improvements there. Creativity was never an issue in the first 30 days, nor is it almost a year later. The only time it would ever creep up as a possible “situation” would be if I exhausted myself with not enough sleep or if I forgot to take my nutraceuticals. At those few points in time, I would realize my creativity was on a slow path. However, I learned how to quickly correct that.
The next rating on my report card was to deal with customer service or “lack thereof.” I learned very quickly that this is a very important part of a small business. It can be detrimental to your success if you do not treat these two words with the utmost importance. Unless, you are able to hire a customer care team from the start, you must learn to conquer the challenges of dealing with happy, sad, mad, cranky and unavoidably miserable clients. Sorry, but there are some of those out there. There are also some very awesome ones as well! Just be sure that you are equipped with a few bits of professionalism to deal with all types from the start!
On to finances – not my favorite subject. Finances make my head hurt and calculators that add up all the bills too quickly makes my tummy hurt. Need I say more? Now, what I can say is, in my first 30 days I worked so darn hard, I actually surpassed my goals by almost $1000! Now that was “not so” great –because every month afterwards that I didn’t make the goal, I was oohh a little sad. The lesson I learned here is that although you can celebrate the successful months, you are running a business. Businesses do have “slow months” and ups and downs. So what that means is you have to plan for the ups and downs in your pocket book!
If you are not prepared to handle the ups and downs, then you may need to seek a little bit of counseling, coaching, motivation and comforting when you start to let the tears flow. You can cry all the tears in the world, but whining and crying about the things you don’t have will not solve your problems. It will only bring on added stress, fear or anxiety. With that, when budgeting for your business, always try to ensure that you keep a light expectation in the back of your mind that some days, some months will be better than others. That way, when the “others” creep up on you, the blow is not as extensive as you seem to make it!
Somewhere in my first week, the freedom of sitting on Facebook all day seemed a little bit exciting. Now I know why our bosses don’t allow us to do this as much on the job. In some cases, it can truly hinder productivity if you get “stuck” on there for too long. In other cases, however, it is a great marketing and advertising tool. So, in order to talk myself into making the best of “social media” networking while a newly created self-made solopreneur, I decided to allow myself two to four hours a day (LOL). It might seem like a lot, but heck, I deserve it!
I really have tested social media strategy. I could go missing from Facebook for days at a time, and when I get back people are saying, “where did you go, where are you? Are you ok?” Of course, the answer is yes; however it’s very interesting to see that your clients are actually paying attention. Now, Facebook can be a little scary sometimes as well. I have had a client say that they “looked up where I live” and actually considered trying to come by to get me to finish their project “quicker!” Another client actually sort of threatened me by saying that I didn’t help their business as they thought that I could because we were in the same field; so there have been some interesting situations. For the most part, utilizing social media in our marketing strategy is crucial.
My goal is to try to offer one social media special per week to attract new clients and spark interest in my old clients. For the most part, it works. But even more so, my favorite part about social media is connecting with others, being able to share experiences, feelings and events, so that working from home for yourself is not as lonely as you can sometimes feel. It’s a big, big world out there, and there are a lot of great resources and colleagues that you can connect with on the ‘net.’
All in all, the thirty-day review that I conducted of myself was fairly successful. I agreed with myself that I would make some changes:
- Make more time for ME
- Make more time for my FAMILY
- Save some MONEY, if possible for ‘slow’ days
- Invest in a formal business CONTRACT document from a real LAWYER
- Drink “healthier coffee” and quit Starbucks because that stuff is expensive!
- Forge new business relationships weekly
- Ask for “help” when I need it
- Market one time per week at minimum
- Read a few books about customer service as a small-business owner
These are just suggestions, and most of them seemed to work for me. Find what you are lacking and set a few goals to make tomorrow brighter. Do not dwell on the past. Your current situation is nothing but a reflection of past experiences. Use every experience to make you stronger!
Entrepreneurship – my 60-day review
At sixty days, I took a good look back. I re-read my 30-day review goals and actually have followed them! I was happy to say that I finally think I can be “coached.” This time around, I really took some time to think about what I have changed since the first month. I believe what it was – and this was the most life changing – was that I learned how to open up and embrace my decision.
During the second month I really learned how to be more of “myself,” the artist that lies within. I also learned that people were watching me, praying for me, and secretly wondering how the hell I did this; how did JMH just walk off her job?
So it was around that time that I decided I might have to share this experience with the world. I was finally over the resentment, irritation and anger that I took with me when I quit my job. I was finally over the fact that owning a business was a piece of cake. I was also over the fact that some people seem to be in your corner, but then the more you get to know them, you realize you’re better off alone. I would say this was my ‘aha’ month, where things slowly started to settle in.
Now, don’t get me wrong, I still had a bit of growing up to do. My finances were still a little bit iffy and my customer service was on the mend, even though I still had a few run-ins with clients. What I did notice was that when obstacles hit me, I learned how to deal with them DEAD ON, rather than run away scared. When the enemy attacks, boy does it attack hard. However, one must train themselves to seek encouragement from within, and from others and to seek help when needed.
I dare you to seek truth from yourself. Be honest when you make a mistake, be courageous when you need to make a stand, be bold when you need to make an impression and be humble while surrounding yourself with people; you never know which ones will become your “angels” and which will become your “enemies.” If you follow these simple and faith-filled guidelines, you are sure to be protected when needed and be a blessing when others need you.
It was about this time when I started my greeting card line, “TEW,” because I knew that my experiences – although painful – were an inspiration to someone out there.
The 90-Day Review
Something happened at 90 days that I can hardly sum up in words. I hit a BRICK WALL like no other! Harder than the wall that I hit back when I “had” a job. For starters, I think I just forgot everything I taught myself in my 30 and 60-day reviews. Secondly, I think I forgot all of the lessons my dad taught me about business, and all of the confidence that my mom instilled in me as a child. I seemed to have lost track of my to-do list along with everything I was supposed to do every day for the family.
At this point in my brand new business I was starting to feel a bit suffocated. I received a call from a mentor not only looking for his designs, but also looking to see if I was “ok.” Basically, he told me, “JMH, do not forget these words … some of the most important words that you might hear in a while. DO NOT let growth kill you.”
Those words were like cream in my coffee. They were truly what I needed to hear because that is exactly what was happening to me. My business was growing exponentially, my clientele base was growing as well, and ultimately, my responsibilities were growing much larger than life.
I began to have some “growth” issues that only I could truly face and fix, and it had to be quick. During the few weeks prior, I had lost all sense of self and business control. I was harboring fear, I was masking a few painful experiences, and I was secretly stashing away all my confidence, because something was eating away at me.
I had to stop for a minute and really assess, process and digest what was going on. I was weeks behind on work, I was thousands behind on my “goal” for the month and I was eons behind on catching up with the family. I was BURIED ALIVE in my new business. This my friends, is what I called the ultimate “ENTREPRENEUR CRASH.” I would not wish this on anyone, and certainly would love to tell you how I got out of it (once I figure it out).
This crash was like nothing I have experienced before. I truly sum it up in my new website called: www.HelloiamAworkaholicTOOproudtoaskforhelpDOitallBymyselfbecauseIthinkIamsomekindofCrazySUPERWOMAN.com.
Well, that domain name was taken, so I couldn’t just design a website and throw it all out there on the live Internet. Instead, I had to sit, sulk, whine, cry, apply for jobs, drop clients, lose money and even more so, lose faith in myself and everything I had done thus far – until a few good peeps came and shook it out of me, or at least they tried real hard!
It was the next morning (Day 91) that the book, “The Entrepreneur Within” was birthed.
A book you ask? Well yes, I had to share this experience with someone real fast. I had to ensure that other entrepreneurs know that they are not alone! I had to encourage so many partners and friends around me because heck, they were there for me when I needed that boost. I had to create an outlet for others to freely share their journeys, whether happy, sad, rich, poor, humble, confident, scared or hopeless. I felt so many emotions as I stumbled upon this 90-day path that I could not hold it back any longer. It was then that I realized what I had to offer, someone else may need; or what I have to lose, someone else might replenish me. Perhaps, what I stand to WIN, someone else does too. In the end, an entrepreneur – or as many call us, solopreneurs – cannot go it alone.
You might be in your own business endeavor, but you cannot do it alone. Please stop people, look around you, embrace every last one of your biggest cheerleaders and thank them for riding out your journey with you. For clients that ever supported you, try to make them realize that you appreciate them because without them, you’d be back at the cube farm.
Surround yourself with greatness and create a resource out of yourself. You never know who may benefit from what you have to offer at any given moment.
Once I got over my CRASH, a few days later, I felt that I could face the world and conquer it. I felt that I could take my experiences and share them. I also felt that I was certainly not going to allow myself to harbor that same fear I’d harbored during the past month. Lastly, I felt that although 90 days is a long time, I would stand right back up and give myself another 90 days to make things right. What the hell was I thinking when I just applied for 12 JOBS?!
It was time to pick up and run like never before, but run faster, smarter and just a bit more strategically in the direction I had set out to run just 90 days prior.
That’s for sure!
* * * *
After working at seven different corporations during a 16-year span, Julie M. Holloway finally decided it was “time.” On October 28th, 2011 the Graphic Designer/Marketer, left her full time job to pursue her dream of running her own creative agency JMH Cre8ive Solutions. Holloway realized a strong need existed to help other entrepreneurs and those looking to pursue their entrepreneurial dreams. The book is a collection of inspirational and practical business advice from Julie Holloway and 16 contributing writers who each pen a chapter on a variety of business topics and personal reflection. Contributors; Rhonda E. Alexander, Steve Amella, GaLonda Chatman , Beth Doyle Adam Jackson, Tiffany Jasper, Corliss Johnson, Shaniqua Jones, Nicole Knox Merry Marwig, Dana “The Loctician and Barber” Moten, Glenn Murray , Patrice N. Perkins, Q. Scott Riley , Anthony Lamar Smith, Danielle Willis . Foreword by Dr. Bernada Nicole Baker.