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3 Ways to Engage an Audience When You’re Presenting about NUMBERS

by with No Comment Business DevelopmentCoachingFeatured BlogProductivity

Over the past year I’ve given a handful of presentations to fledgling nonprofits and entrepreneurs about finance. Managing and understanding the financials is such a foundational skill that can make or break a business, that it’s important to me to present the information in a way that these leaders can latch on to.

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One of my goals as a CFO is to encourage ownership of the financials by everyone in the organization. Everyone from top to bottom should understand the basics of the budget and financials, and the role of a CFO is to present the numbers in a way that tells a story.

Here are 3 ways to engage your audience when you’re presenting about numbers:

1. Identify the goal of the session and repeat it at least three times. Explain why it matters. This isn’t because your audience is stupid and didn’t get it the first time. In a session I did for a group of budding social entrepreneurs, I highlighted revenue, expenses, and cash flow, and explained why each was critical to understand. In addition to words on a slide, I showed them how to identify each element on the financial statements and referenced them multiple times.

2. Provide a clear action item for the audience and explain how to make it happen. Instead of reciting a bunch of bullet points and walking off the stage, I presented one action item for each of my three main areas. I asked the group to develop their revenue pipeline, create an expense budget, and figure out their cash flow.

3. Ask questions. I provided a worksheet which outlined my talk but left some elements blank. Participants were forced to really listen and fill in the blanks which I found left them entirely more engaged than if I was just speaking. Hearing + writing led to more questions and repetition breeds familiarity and success.

A BONUS way to engage your audience? Be interesting! Smile, make jokes, learn people’s names, make eye contact, tell stories. Nobody likes a starchy stiff presenter. Break that stuffy CFO stereotype!

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How to Write the Perfect Cold Email

by with No Comment Business DevelopmentFeatured BlogProductivity
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When I first started my business over a year ago, I had no idea how to get clients. I had a business model that I thought would work based on my experience in the field, so I had a basic website made to give myself a bit of credibility, and ordered a box of business cards. But how would I get people to actually look at my website and hold one of my business cards?

Maybe surprisingly, my first thought was not to tap my network! I was still working a 9-5 and was terrified that my day job would somehow intersect with my business and I’d be “found out”. I wasn’t doing anything against the rules, but I was almost scared for people to find my business – was I actually good enough to be a CFO consultant? Talk about major imposter syndrome!

So I got to thinking about my ideal client and figured the best way to reach them was to write a cold email. And you know what? It worked! My email response rate was well over 50% and within three months I had landed not just one, but FOUR clients for ongoing work.

Cold emails work when done right.

Here’s proven formula for landing clients using cold emails:

1. Identify your target market. And I mean REALLY get specific. Here’s how I identified my ideal clients:

Nonprofits.

Nonprofits without a CFO.

Nonprofits with small to medium-sized budgets were the most likely to be without a CFO.

Nonprofits whose causes I am personally passionate about (Cincinnati-based, education, international development).

See how specific that is?

Once I narrowed my target client profile, I harnessed the power of the internet using Google and Guidestar (a nonprofit database) and put together a list.

2. Do your research. Instead of just dropping a line to the info@company.com email, research the company, review their website, and figure out who the decision-maker is. Email that person directly.

3. Craft the perfect email. Here is the formula:

Address the person directly. Hi Sarah…

Tell them exactly why you’re interested in their company and working with them. The first sentence of my cold emails shares my genuine passion about their mission. Don’t fake it – you will sound sales-y and transparent!

Explain how you understand a problem they’re likely facing, then show them how you can help in one or two sentences.

Close with your website and ask for a brief chat. Would you be interested in a brief conversation? I’d love to chat about how we can work together at Company X!

So what do you think? This tried and true method works because it shows the client you’re approachable, concise, and genuine. You are someone they want to work with because you’re not sales-y.

I challenge you to give it a shot this week and let me know if you get a response! Want advice on a cold email draft? Send it my way and I’ll take a look, no strings attached!

Happy emailing!

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Hey entrepreneurs: Don’t make these 3 finance mistakes

by with No Comment Business DevelopmentFeatured BlogFinancial ManagementProductivity

Entrepreneurs are the BEST. We take an idea from scratch, put all of our brain power and hard work into it, and build that idea into a business for which people pay real money for our services and products. When you think about what goes into building a business, it’s pretty awesome that we can make this happen.

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However – you knew there was going to be a however, right? – there are some pitfalls that entrepreneurs often encounter that will truly make or break their success, and they’re related to the numbers.

I get it. We’re not all math people. But neglecting the numbers can land you in a scary place, so today we’re talking about a few mistakes you can avoid.

1. You fail to plan.

When you start your venture, it’s easy to just dive in headfirst and spend a little here and there, get your first sale, and go full steam ahead without thinking about what expenses lie ahead and what your revenue pipeline looks like. This could be a quick way to get into trouble if you don’t know what’s around the corner. Your plan doesn’t need to be super complicated.

Start with the expenses. Think about what you need to be successful, what investments you need to make in your business (computer, training?), what supplies you’ll need to create your products, any professional services (legal, accounting, etc) – then lay those out into a monthly spreadsheet so you know the timing of each expense.

Then tackle the revenue. What is the bottom line you need to cover expenses? Now think bigger: How much do you want to make? Plot out your revenue goal by month so you have clear targets to work towards.

I know it sounds like a lot, but this planning exercise will help you focus and give you clear insight into the financial health of your company or organization.

2. You get behind on tracking your numbers.

We, as entrepreneurs, are busy people. We’re constantly thinking about our businesses, serving our clients, putting out products, doing activities to help the businesses grow, so it can be very easy to let a few months go by without entering expenses into our accounting system, organizing receipts, or looking at a P&L. This is the danger zone! We have absolutely no knowledge of how our businesses are doing without staying up to date on our numbers.

So make sure that you set aside just one morning a month to make sure all revenue and expenses are entered into the books, your bank account is reconciled, and you take a look at your P&L. Maybe even forecast out the coming months so you can see where your business is headed. The most important thing is to stay on top of it – otherwise, you’ll likely be spending more money and calling in the experts come tax time or end of year. This strategic insight is going to help you make better decisions for your business and give you the insider info you need to grow!

3. You refuse to ask for help.

I know firsthand how hard it is to ask for help. I mean, you’re an entrepreneur for goodness sake! You built this business from nothing, so why shouldn’t you be able to do it all?! I ran into this in my own business. I am very stubborn and was determined to build my own website and create my own graphics from scratch. Hours and days later, I was frustrated with the end result, tired of Googling how to do every little thing, and annoyed I had wasted so much time with nothing to show for it. I was humbled into making that call to the graphic designer I had in my back pocket.

Same thing goes for the finances. If you’re not a finance expert, you probably won’t give the numbers they priority they need because it’s not a fun task for you, and you’ll likely spin your wheels for much longer than it would take an expert to get your financial house in order and analyze the numbers for you. Focus on your strengths and leave the numbers to the crazy math lovers.

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How to network like a boss

by with No Comment Business DevelopmentProductivity

Oftentimes, managers will get promoted into a department and inherit a team of diverse personalities and working styles. We learn about the group and do our best to lead them. Sometimes, we have the privilege of building our own team, either through organizational growth or turnover. This is my favorite!

One of my favorite teams I’ve ever worked with was comprised of one long-standing employee and three others I hired over the course of three years. In the interview process, I tried my best to gauge culture fit. How would these different people interact with the rest of the team? I assessed this by including the rest of the team in the interviews and then relying on gut instinct. In a couple cases, I took chances on people who weren’t the perfect candidate on paper but had the drive and culture fit I was looking for. They were two of the best hires I’ve ever made.

One way to build a solid team is to get to know people in the field so that when a job opens up, you immediately think of a couple people who could be a good fit. Time saved! Yes, I am referring to the dreaded networking.

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As a well-documented introvert (I’m an INTJ in Myers-Briggs), the work networking makes me break out in an instant sweat. Talking to strangers?! My worst nightmare. But as a newbie to the community, I was forced to get out there in order to build friendships, clients and business partners. Here’s how I did it:

  1. Start with one person. There’s got to be one person out there that you feel comfortable speaking with. Tell them your interests, learn theirs, maybe document it in Excel and ask if they know anyone else you could speak with. Living in Ohio/the Midwest for the first time, I was pleasantly surprised with how willing people were to chat.
  2. Send cold emails. Again, I’ve been pleasantly surprised with the responses from cold emails. Make it personal – share something about yourself and what interests you about them – and take a chance. What’s the worst that could happen? They don’t respond? I’ve had about a 40% response rate from cold emails sent to organizations I’m interested in working with. Not bad!
  3. Mine your LinkedIn network. Connect with those you speak with and if they don’t offer an introduction to someone you’re interested in, simply ask! People are so deeply connected they often forget who they’re connected to. LinkedIn is your BFF (and the app is great to surf while you’re mindlessly watching TV at night.)
  4. Don’t ask people to coffee to “pick their brain”. People are busy, and if the person you want to know is hugely successful and intelligent, they probably have better things to do than simply hand you their hard-earned knowledge. Bring something to the table! Maybe you want to volunteer for the nonprofit where they sit on the board or maybe you could offer their company your SEO services. Whatever it is, make it dually beneficial.
  5. Attend those dreaded networking events. A couple months ago I got invited to a women’s networking event. I pursuaded my friend to join me but after a hard day, she bailed, leaving me to walk into a room of women all alone. I stood awkwardly looking at my phone, face turning redder as more women entered and started chatting. I sent an emoji-filled text to my husband, then promptly put my phone away and marched over to a table and sat down with two women. I introduced myself and my business and lo and behold – we had a connection in common! Door: opened. This was SO outside my comfort zone – trust me – but I left that meeting with two dozen business cards, motivation, inspiration and confidence.
  6. Keep in touch. Don’t let your one Starbucks rendevous be the only time you connect. Drop them an email when you see a news article about their industry. Congratulate them if you see they’ve been promoted. Share job openings at your company.

Building a network isn’t easy. I’ve been in Cincinnati for two years and while there was a period where I set weekly networking goals (e.g. send emails to three new people, have coffee with one new person, find one event to attend), I’m constantly keeping my ears open for shared interests and commonalities. It’s a long-game, people. Go forth and meet!

Connect with me on LinkedIn!

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Focus in 2016

by with No Comment Business DevelopmentMindsetProductivity

Congratulations on surviving the first work week of 2016 and hopefully enjoying the first weekend-between-two-work-weeks as well.

Did you make resolutions this year? Or did you perhaps assign a word to your year instead?

This year I’m using both a word and resolutions to guide my year. I relish the opportunity to use my brand new notebook and pens and essentially write a plan or a guideline for my year. I’ve seen the statistic floating around that only 8% of people keep their resolutions but perhaps it’s the Futuristic in me that uses my resolutions to keep me motivated year-round. I’ve also been known to make a dozen resolutions, accepting nothing but perfection in each – thank you, Maximizer.

My 2016 word is FOCUS.

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Our world throws so much stimuli at us constantly that it takes a concerted effort to slow down and focus on one thing at a time. Have you ever found yourself starting an email, then opening your web browser to search for something, clicking over to a blog you’ve been meaning to check, writing another sentence on the original email, calling to schedule a doctor appointment, then checking your bank account balance and returning an hour later to finish that initial 3 sentence email?

If that’s not inefficient, I don’t know what is!

So instead of creating a list of fifteen different resolutions to “focus” on this year, I only have three and I plan on putting my all into making those the absolute best I can.

  1. Build this business. I’m working with some wonderful organizations and in conversations with others that I hope to add to my roster this year. I am grateful that I can provide my expertise to amazing nonprofits around the globe and want to expand capacity this year. I’m working on some speaking engagements to share what I’ve learned so far with other leaders and professionals which is a stretch beyond my comfort zone. But isn’t that where we create beautiful change?
  2. Gain more financial strength. Those student loans aren’t doing anyone any good (unless you’re the lender, of course).
  3. Practice yoga at least once a week. I’ve found a wonderful yoga teacher I truly connect with and that hour in a dark, warm room is therapeutic. I get to move my body while keeping my mind completely still. For someone with ideas swirling throughout my head constantly, this is a beautiful treat.

What’s your word this year?

(Check back next week for the scoop about audit prep! Audit season is quickly approaching for all of you December 31st year-enders and it’s never too early to start preparing.)