Favorite Inspirational Quote

Ever wonder what motivates and inspires business leaders? This week, we look at inspirational quotes that motivate guest Nichole Dunn, the President and CEO of The Women’s Fund of Central Ohio, and host Mary McCarthy. Mary is the President and Co-Founder of Your Management Team, a small business consulting firm.

The Women’s Fund of Central Ohio is a non-profit organization that works to create equality and to empower all women and girls to reach their full potential. Its’ four priority areas are Gender Norms, Economic Self-Sufficiency for Women, Leadership for Women, and Life Skills for Girls.

What You Will Learn:

  • Quotes to inspire you every day
  • Nichole and Mary’s stories about what has motivated them in their work and personal lives
  • Nichole’s favorite way of introducing people in a warm and inviting way, that has nothing to do with their bio. It’s a great technique you can use too.

“How often do we go down paths that we didn’t necessarily mean to go down, because we were allowing the worry, or the ‘what if’, or the ‘fear of’, so we do things we know we really don’t want to do. Entrepreneurs are that a lot, especially in the first years.”  – Mary McCarthy

 

Associated Reading: 5 Quotes to Create a Positive Mindset During Negative Times

Nichole Dunn                                                                                                                        President and CEO                                                                                                                        The Women’s Fund of Central Ohio                            ndunn@womensfundcentralohio.org

About the Host:                                                                                                                                Mary McCarthy                                                                                                                               Host, The Successful Micropreneur Podcast                                                                           President of Your Management Team, Inc.                                                          Co-Founder of the Women’s Small Business Accelerator, Inc.

Determining the Value of Your Time

You charge money for your services, but do you really know the value of your time? It can be one of the hardest things for an entrepreneur to understand.

“As a microbusiness owner, we tend to not really think about what the value is of our time. We understand what we charge for our time. Whether it’s $50 an hour, $100 an hour, $200 an hour. That’s what we bill. But it’s not what the value of our time is.”

This week, host Mary McCarthy tackles this topic herself, and talks about 5 points to consider when putting a value on your time.  Mary is the President of Your Management Team, Inc., a small business consulting firm. She is also the Co-Founder of the Women’s Small Business Accelerator, Inc.

“The challenge of not understanding what the value of your time is, you don’t really know how to spend your time practically.  You’re the leader of your organization, you’re the driver. So if you don’t value your time and use it wisely, quite often as you start to grow, others are not valuing your time as well.”

Mary talks about two formulas for determining the value of your time:

Formula #1:

First, define what size business you want to be (the revenue you want to generate).

Take the amount of the revenue you want to generate divided by (The number of hours you want to work a week multiplied by the number of weeks you want to work a year) = The Value of your Time

Formula #2:

Determine the roles you serve in your business. What would those salaries be in a year? (Examples: Comptroller, Sales Manager, Visionary, etc. Mary values “Visionary” as a $500,000/year job.)

Add up all the roles and divide by 2080 (that’s 40 hours a week working x 52 weeks in a year)= $ /hour

What is the hourly rate you come up with? Mary’s rate was $425/hour.

Mary McCarthy                                                                                                                               Host, The Successful Micropreneur Podcast                                                                           President of Your Management Team, Inc.                                                          Co-Founder of the Women’s Small Business Accelerator, Inc.

 

How to Balance Being a Friend and a Boss

Navigating the line between friend and boss can be a tricky one, especially for a microbusiness owner. When you have 20 or fewer employees, you work closely and rely on them all. You want to create a working environment they want to come back to everyday, and a job where they feel engaged. But it’s a problem when “…the employee starts to drive policy, versus receiving the policy from the employer.”

Sharon DeLay is the President and Owner of GO-HR. She speaks to host Mary McCarthy about problems she sees her clients’ experience, and how to prevent them. There is a big difference between being the Employee Friend and a Friendly Employer.

“One of the things we always talk about with our employers is, ‘Can you scale this behavior up?’ Is the behavior you are allowing with one employee going to be okay if you have five employees? Seven employees? 10 employees? And if you can’t answer ‘yes’ without hesitation, then you know it’s not a good behavior.” – Sharon DeLay

What You Will Learn:

  • The difference between being the Employer Friend and a Friendly Employer
  • Mary and Sharon’s stories about relating to employees
  • Common issues where small business owners get into trouble, because they are treating the employee like a friend, and not an employee

Sharon DeLay
GO-HR
4889 Sinclair Road, Suite 103
Columbus, Ohio 43229
P (614) 473-0122
sharon.delay@go-hr.biz
http://www.go-hr.biz/

About the Host:                                                                                                                                Mary McCarthy                                                                                                                               Host, The Successful Micropreneur Podcast                                                                           President of Your Management Team, Inc.                                                          Co-Founder of the Women’s Small Business Accelerator, Inc.

 

Fun in the Workplace

Work. Results. Fun?

Do you think of your small business as fun? For Joelle Brock of Leading EDJE, a full service IT consulting firm, that means monthly social events with employees, a kegerator at work, bowling, and so much more!

This week, host Mary McCarthy talks to her about how she and her leadership team have incorporated fun into their workplace, and the results she’s seen in the company.

“What makes it all fun is that we’re all buddies, we’re all friends. When we get together it doesn’t even seem like work.”

What You Will Learn:

  • How Leading EDJE has fun in the workplace, and what it’s done for them
  • The obstacles that stop companies from creating this type of work environment, and how they can be overcome
  • Leading EDJE’s 5 Core Values that keep it fun in the workplace and get results for clients

Joelle Brock                                                                                                                              President & CEO                                                                                                                  Leading EDJE                                                                                                                              Contact Information

About the Host:                                                                                                                                Mary McCarthy                                                                                                                               Host, The Successful Micropreneur Podcast                                                                           President of Your Management Team, Inc.                                                          Co-Founder of the Women’s Small Business Accelerator, Inc.