If we were having coffee together today (well, tea for me!), I’d tell you that I’m training to run a marathon right now. It’s my first road race of any sort in nearly a decade – I completed 7 marathons in my 20s and replaced running with multiple IVF treatments, 2 pregnancies, 2 births, raising two little girls, and building a business
When I was in second grade, I memorized all fifty states, in alphabetical order in a day, thanks to the catchy song, Fifty Nifty United States. #iykyk
Because I was an 8-year-old overachiever, I boasted to my teacher that I would also memorize all (at that time) 41 presidents in order and that I would recite them to her the next day, giving me roughly 18 hours to accomplish my self-imposed challenge
I used to think that most things existed in an either/or spectrum. I can either have a fulfilling and lucrative career OR I can be present for my children. I can either support nonprofits and do meaningful work OR I can earn a decent living.
But learning about cultivating an abundance mindset has helped shift my thinking from either/or to both/and. By removing the barriers of limitation I had unconsciously placed in my mind, I’ve opened myself up to opportunities and possibilities I didn’t know existed.
I learned about this in my personal and professional development journey as an entrepreneur and it’s something I’ve always been passionate about bringing to the nonprofit sector too. It’s exhausting to continue to be stressed out that there’s not enough money, funding is running out, we can’t afford to hire help, etc, etc, etc!
Here’s what I know:
Of course these mindsets exist on a spectrum, and we all exhibit characteristics of both mindsets in different situations. However, understanding when you’re stuck in a scarcity mindset and knowing how to unleash your superpower of an abundance mindset can open you up to brand new possibilities.
Here’s an example of this shift related to funding:
A nonprofit leader with a scarcity mindset might constantly worry about the lack of funding and resources. They may be hesitant to invest in new initiatives or programs due to fear of running out of resources.
Nonprofit leaders with an abundance mindset believe in the potential for attracting diverse funding sources. They focus on developing creative fundraising strategies, exploring partnerships, and leveraging existing resources to maximize impact. (Kailee talks about this on the podcast!)
Donor relationships:
With a scarcity mindset, a nonprofit leader may feel a sense of desperation when engaging with donors (Kailee talks about this on the show too). They may focus solely on immediate fundraising needs and have difficulty building long-term relationships based on trust and shared values.
Leaders with an abundance mindset approach donor relationships as partnerships. They emphasize transparency, communication, and demonstrating the value of their organization’s work. They seek to create a sense of shared purpose and engage donors beyond financial contributions.
Other organizations in your space:
They may view other nonprofits working in the same space as direct competitors, seeing them as a threat to limited funding and donor support. They might be reluctant to collaborate or share resources with others.
They view other nonprofits as potential partners, recognizing that collaboration can lead to collective impact and greater outcomes. They are open to sharing resources, knowledge, and expertise to address shared goals.
See the difference? Imagine how much more you could get done – not only in your day-to-day work, but on a larger scale – if we stopped limiting ourselves, talking ourselves down, and playing small.
Time to play big, my friends, and just see what you can do!
(Want to go deeper? Listen to our podcast interview with Kailee Scales, CEO of Pencils of Promise, for more innovative, collaborative, and sustainable approaches to accomplish your work!)
I get asked this question a lot… “Stephanie, how do you make good money habits stick?”
The truth is, our brain cannot differentiate a good habit from a bad one, and this is why it’s hard to break long-standing habits.
For example, if you’ve been so used to NOT doing your books until the last minute, then chances are you’re going to keep repeating this same pattern.
But this is not to say that we have to stay stuck in this cycle and put up with habits that no longer serve us!
As with anything you want to change, the first step is to acknowledge your patterns, and understand where they come from. Once you understand the root of your pattern, you can start shifting to something else that works better for you.
So if you’re someone who’s not a huge fan of math or numbers, think about when did this feeling first show up? What created it? And then let that guide you to create a new money mindset for yourself.
Something that is difficult to achieve rarely sticks. The best way to create a habit? Decide how you want to feel and take steps towards getting there, little by little. It doesn’t have to be a huge lifestyle overhaul.
Everything doesn’t need to get done immediately. Focus on ease and start with one, manageable step at a time, like just coding your transactions in QuickBooks once a week. Even the smallest of good habits will make you feel good when it’s done!
Rewards are awesome for reinforcing new habits! Try giving yourself a small reward for your efforts each day – maybe take yourself out for a nice meal after crushing your to-do list, or give yourself an hour to read in the evening when you’ve finished your day’s work.
Make that reward enticing enough to get you through the initial hard work – like including that course you’ve been eyeing in your financial plan for the year!
The secret to achieving goals is assimilating them into your routine, that way it’s easier to break down that big goal into little steps, and you can create momentum more sustainably.
For example:
The best way to reinforce good habits is by surrounding yourself with other people who will hold you accountable for your new behaviors. This means people who likely already emulate the behavior you are trying to form. (Ahem, we have just the solution for you in the Purpose & Profit Collective!)
You see, our brains are not thrilled when we suddenly change things – it’s the same with the people around you. If they are not ready or not fully supportive of the change you’re making, they may inadvertently sabotage your attempts at sticking to your new habit.
So, surrounding yourself with a supportive circle of colleagues, friends, coaches, and mentors will help a lot!
We’re visual creatures and we like to see our progress. This is why we tend to only see the end result and not acknowledge how far we’ve come. Track your progress so you can see your achievements, even if they seem small right now.
My favorite way to track progress is in our Profit Playbook – you enter your forecast for the year, then your actuals each month so you can easily compare how you did to what you planned.
Trying to create good money habits when we’re not even clear on what we value and prioritize is like starting work on a project without any understanding of the objectives.
Start by getting clear on your values, priorities and your ideal business and lifestyle. Then you can build your financial plan and habits to suit them. What are some common pitfalls that get in the way of you achieving what you want?
Let’s be honest, even the most well-meaning plans tend to go awry. When you do slip up – like getting behind on your bookkeeping or not using your forecast every month – don’t beat yourself up over it. Make a slight course correction and get right back on track.
It will take some time for your new habits to feel natural, but don’t give up before you’ve given yourself the chance to make them stick!
Change can be scary and will likely cause some sort of internal resistance – that’s totally normal!
After all, your brain is programmed for survival which translates into always trying to stay on top of things.
This is why “you should always do what you are afraid of” doesn’t work. Our minds are quick to notice when things are out of the ordinary, so doing something new will immediately trigger stress or discomfort.
So instead, start small and gain your confidence before tackling bigger things.
Building good money habits that stick requires you to be thoughtful and intentional about what new behaviors you want to develop.
Identify your goals, set up a plan to track and monitor your progress and form supportive relationships with like-minded individuals. When you do slip up or it feels like an uphill battle, remember – slow and steady wins the race!
Is it too late to talk about power words a.k.a your Word(s) of The Year? I want us to talk about this for a hot minute… and if you haven’t picked your power word for the year yet, maybe this can even help you with that!
Now, I don’t know about you, but I love picking out my power words because they act as special reminders that help us become more focused on what we need to power up for the year.
For example, my word(s) of the year are Intentional Ease.
That’s because, as much as I love taking action and doing #allthethings, I am also well-aware that I need to be intentional about what needs to be done, and do so in a way that does not cause unnecessary stress for me, my team, and our clients.
So, not only do my power words help me narrow my focus and get more strategic about the tasks that I want to tackle, but it also allows me to be more present in how I live my life and run my business.
“But I haven’t quite picked my Word/s of The Year yet, Stephanie! How do I even choose when there are sooo many things I want to manifest in 2022?”
Worry not, my friend!
I’m not asking you to identify an action step or a word that is meant to be achieved completely this year. It doesn’t have to sound cool or poetic either. Rather, it’s about a word or an intention that you want to weave into your life over the next 12 months.
For example, mine is Intentional Ease and I want to bring ease into every area of my life – be it in mindset, health, relationships and business!
Having power words doesn’t mean that they will play out exactly how you imagined. So, in order to prevent power words from draining your energy, it’s best to use power words that play into what I like to call “power moods.”
There are tons of power moods out there! Here’s a few examples to give you some perspective: ambitious, happy, relaxed, unfazed, and unapologetic.
You can even make a list of words that have unique meanings to you!
If there’s something great that went on in the previous year that you want to bring into the next, then there’s no harm in choosing words associated with the power word you chose in the previous year.
For example, in 2019, my power word was BUILD. Then in 2020, my power word was EXPANSION.
The magic of your power word(s) lies in its ability to act as a daily reminder of what you want to become and how you want your year to go.
One way to keep your power word top of mind is by creating a vision board with your power word written somewhere on big, bold letters! I personally like to use Post-its and my journal as a tangible and visual reminder, but as with anything, you should go for what works for you.
So, whether it’s a poster, a visionboard, or even a journal – just make it tangible and easy to access!
I hope you give power words a try and let’s power up together!
I had this little idea in the back of my mind.
Sometimes when I’d be in the car alone, I’d practice an intro. “Hi, I’m Stephanie! Welcome to my podcast!”
I’d dream of how I’d interview guests. “Tell me the story of your business journey.”
Then one day, late last year, I decided now is the time and it all came together. Equipment, production, marketing, content – let’s just say it was a learning curve.
I am so thrilled to let you know that…
100 Degrees of Entrepreneurship Podcast
Launches on March 1st!
The show is a mix of solo and interview episodes where I chat with inspiring business owners to share their journey and experiences where they pushed outside their comfort zones to create impact on the world.
The first three episodes will drop on March 1st and you’ll be able to listen on iTunes, Spotify, and Google.
Stay tuned for an email on March 1st to let you know it’s live!
New Podcast Episodes Drop Each Week.
Okay, friend.
I’m going to share a time when I had hit a wall.
I was trying to schedule an important meeting and the only time that was free was in the evenings after my girls were in bed. I ended every single day with a longer to-do list than when I started and I dreaded clicking that Zoom link yet again.
Intentionally working “after hours” was never part of my business plan.
My schedule had become filled with things that I didn’t like doing and that I wasn’t good at, and I knew something had to change.
Instead of metaphorically burning the whole business down (although I threatened it!), I decided to track my time for a few weeks and see where it was going!
Here’s the thing:
Time is an input to results.
We all want results, like hitting a certain revenue goal or serving a certain number of people. There are things we can do to help those results along, and spending our time is one input to our results.
So I looked back at my calendar for the previous five months to categorize and assess exactly where my time was going.
The results?
I spent about 2.5 days a week on calls! I got instant clarity on why I was feeling crunched.
Are you feeling the calendar crunch too? I suggest you do a time study!
Just like analyzing your finances is worthless unless you’re going to use the information to make smart decisions, the time study was pointless unless I actually did something about it.
I started batching calls, blocking time for no-meeting days, and adding rest and creative work time into my schedule so my weeks were more conducive to achieving my goals.
Are you investing your time in what activities will get you closest to your goals?
PS – Your weekly schedule should be a direct reflection of your biggest goals, so make sure that your time is spent on your goals!
Follow along on Instagram to see how my weeks look >>> @stephanie.skry
It’s funny looking back on our 2020 goals because the world was so incredibly different just 11 short months ago.
Travel was a big priority for my family and me, I had at least half a dozen conferences in cities around the country planned, plus exciting trips to work in-person with clients. I also wanted to grow my team and bring them together at a beautiful AirBnb overlooking the ocean somewhere.
None of that happened in exactly the way I’d planned, but in some ways, it was better. I haven’t been on an airplane in over a year but our family discovered our new favorite road trip destination – coastal Maine. I presented at virtual conferences in front of thousands more people than would’ve been there in person. I grew my team beyond my wildest dreams and brought them together for a virtual retreat instead.
I shared the live updates on social media during our team retreat week but wanted to share more behind the scenes in a full blog post. So here’s how we planned our virtual team retreat.
What questions do you have? Have you ever hosted a virtual team retreat?
One small action can make an impact.
Tomorrow is Election Day in the United States and millions of voters have already cast their ballots because of exactly that.
We know that our vote matters. Even though we are one in millions, our vote matters, this year more than ever before.
It got me thinking about how one small action I took, five years ago, has made an impact on my life and the lives of many, many others in a big way.
I took small, imperfect action, and sent emails to a carefully researched list of nonprofit leaders around the globe to see if they needed help with their financial management.
I’m pretty sure I had The Office on in the background and I’m definitely sure I asked my husband three hundred times Should I send it? Should I send it? Should I send it?
Spoiler alert: I took the small action. I sent the emails.
People responded.
I got one client, then four clients, and I had a business.
I’ll be the first to admit that if I could, I’d constantly be working on my business. I love the challenge of improving our client experience, the creativity of building and trying new things, and the freedom to do exactly what I want.
But sometimes it’s HARD. Launches have flopped. Clients have been unhappy. I’ve had to do things and have conversations that make me sick to my stomach. I’ve wanted to give up. I’ve wanted to turn and hibernate under a blanket and delete all of my emails.
Even though one small action can make an impact, it’s not always perfect. Here are my five biggest lessons from the past year:
Thank you, for being a part of this amazing community of purpose-driven leaders. Your positive attitude, selflessness in service, and dedication of your life and work to helping other people is inspiring and humbling to me.
I’d love to know the biggest lesson you’ve learned as a leader this year! Comment below and let me know.
You need an assistant!
Hire for your weaknesses!
You shouldn’t be doing any tasks that aren’t revenue-generating!
Have you heard this before?
I know I have.
Oftentimes entrepreneurs rush out to hire a Virtual Assistant (VA), a Facebook Ads Manager, an Online Business Manager (OBM) without actually knowing what they should be doing.
There are tons of job postings online so we Frankenstein a job description together, post it on Indeed, bring someone on, and guess what?
Since creating this business five years ago, I have learned this lesson firsthand and figured out the solution.
You must know how to do something yourself before you can hand it off.
Facebook Ads has been the bain of my existence for years now. Since the beginning of my business, I have been drawn in by the siren song of Facebook ads, thinking to myself, if I could just master Facebook ads, maybe I could build my email list, sell a new digital product, grow my membership faster.
So I played around with Facebook ads several years back, got frustrated with it after about five minutes, and decided immediately to hire out.
It’s not my expertise, I’m not interested in learning, so I’ll just find someone to do it for me. I literally thought it was like a switch to flip – and if you knew the special way to flip the switch, the revenue would just come pouring in.
Oh, how wrong I was!
I hired a Facebook ads “expert”, paid them, and got no results. Not a single email address added to my list, no sales, nothing. You’d think I learned my lesson, but I did the same thing two more times!
But I realized that all of these attempts were missing one key thing: I didn’t understand Facebook ads at all, so I didn’t articulate what I was looking for. The people I hired made empty promises and I couldn’t see it because I didn’t understand what I really needed either.
Lesson learned!
I recently decided I wanted to dabble in Facebook ads again to help grow our membership but instead of running out and hiring someone, I decided to learn it myself, so I am more educated if and when I do decide to hire someone.
I (lightly!) invested in a couple courses and instead of whizzing through it, I took my time, created a strategy, and tested a couple ads for myself.
Now, I didn’t flip the switch and watch the sales come pouring in (bummer!), but now that I know how it works, I know exactly what I need and what questions to ask if and when I do hire someone.
I won’t get burned again!
What about your finances?
Many entrepreneurs immediately hire a bookkeeper or a CFO because they hate numbers and don’t even want to touch them.
But, as a CFO, I think it’s important for every beginning entrepreneur to do your own bookkeeping in the beginning. You will get an intimate knowledge of what’s coming in and going out of your business. You will understand on a deeper level what your numbers mean rather than just filing away the Excel reports your bookkeeper sends you.
You absolutely don’t need to become an expert in Quickbooks or accounting or taxes – that’s what the professionals are for, after all! And you don’t need to manage your numbers forever. As things get more complicated, it’s vitally important to bring on the right support.
But once you gain that foundational understanding and knowledge, you will know exactly what and who you need to support you.
If you’re at the beginning stages of your entrepreneurial journey and are handling your finances yourself, The Entrepreneur’s CFO Corner gives you the tools and the resources you need to do it yourself, but you also have a CFO in your back pocket to check your work and ask questions.
How has doing something yourself before you hire, helped you clarify what and who you need?
