Going out to the pointy end.

Image by Robin Hutton via Flickr

It’s no news that we all in our own way, stay within comfort zones of our lives. And for the most part this is necessary. I for one, would gladly stay in Perugia if someone said to me, that will be your comfort zone. Bring it on!

However, the internal barriers that get set up, can be concreted in such a way that new behaviours or beliefs that need to be embraced, don’t, simply because it’s not familiar to us. And more so becuase they freak us out. Do what? Feel the fear of the unknown? No way!!! Take a leap of faith when I’e otherwise been in control? Crazy stuff. But now and then our “comfort zone” plays lip service to the internal cheerleading voice that says but never does.

I found this to be true (and have read it time and time again) when it comes to where people automatcially  cut back when they are in fear. I recently experienced fear of not having enough, and found myself putting up with poor work and pay. Being able to walk away and say “no thank you” is going out there and saying, “Well I know it will be okay. I can’t see it, but I won’t put up with this to appease my fear.”

Where was I? Ah yes…how is this relative to my experience in taking leaps in my working life. I remember precisely the moment I had to do this. Every ounce of my body was saying, “This is mad. Do you know what you’re doing? This Amercian consultant is talking well…Amerecian (short for loud and brash) but he seems to know his business. And what in the hell am I going to do??? “

I was encouranged to buy more stock, to spend on adverstising (expensive, very expensive), spend on printing and signage, more staff costs and not to mention his fee! And ofcourse having never had heard of such a plan before, I had no way of knowing if in fact it was going to work here in Australia. Closing Down a business by spendng more! Everything about that stank.  Of Fear.

I would describe this internal state of “out at the pointy end” as a feeling of going completely against the grain of rationale that said “don’t do this” to trusting something or someone else with my life and business. (At this stage they were pretty much one). I was terrified but taking a leap and saying “I’m not going to be afraid, the pain of ending this badly is worse than the pain of taking this leap.” I think that’s the pointy end.

They say the most succesful people make sure they feel this at least once daily. Daily! Did you stretch out today?

Plan to close down? What plan?

Know how to hold up your own exit

When I read or wrote my own business plan…nowhere did I come across a plan that included two fundamental categories.

1. what my “stop-loss” figures looked like and

2. what my exit strategy would be

No one in their right entrepreneurial mind wants to think about this when they’re signing a lease, organising stock, marketing etc etc. Or even at some point during the business. Usually it’s not thought of at all, until the figures are pretty miserable. ie it’s been at least 6 months since that sinking feeling in their stomach. Then they borrowed some more, re-mortgaged the house, let off some staff and hoped the next promotion or whizz bang marketing idea would get things rocking again.

A friend of mine has been in both situations. He stayed too long in one place that lost him money (he thought it would turn and it did not) and hung on to one that did turn around. The risk is always there and it’s incredibly personal as well as practical, when one must walk. Identifying this early on is critical, because it doesn’t matter who you talk to, they’ll have their own idea and their risk level is different. It’s yours that matters.

In any case  clearly thinking about it, and putting in the plan doesn’t mean you’re planning to fail. It means you’re realistic and anything might happen. Waiting to sell a business when times are tough or when the figures are not so sellable, or simply packing up and going out just like that is NOT a strategy. It’s giving up.

So I highly recommend, if you’re starting out or re-evaluating things, to look at an exit strategy. Better still, research what kinds of postivie exit strategies exist out there. I found that there weren’t many.

An oxymoron ( I love that word). A positive ending to a business? Yes. Call it a paradox in kind. But the feeling is surreal. And most people can’t even imagine it possible. Because they don’t know how, and they don’t PLAN for it. So I say plan for the rainy day, just don’t walk around talking about the weather all the time.

Staying safe? The effects of trauma and moving through it.

Initially this blog was supposed to be about building a new business. Contracting myself out to retailers who have made the decision, or are thinking about closing down their store and who want to take on a consultant who can help them liquidate their stock. In the way I did. With great success.

Although that’s still my goal, part of getting to THAT, it turns out, is sharing about what’s happened since then so I can actually get to that goal. And so, I just go with it. And I’m learning about understanding how others may be feeling in similar circumstances. This will only aid my ability to help them. I hope.

For anyone following this blog…yes I’ve been grieving. Well funny how we can’t just open one box called “grieve about this or that” without somehow opening Pandora’s box of other matters that also have been sitting there or are due to come up. I could’ve sworn I didn’t order this. But it arrived anyway.

Last week was like that. A Pandora’s box of grief and fear making me pull back and stay small. Hence I’ve been away from this space. Uninspired and avoiding myself. But in any case, I would have come up with very little. And that’s okay.

I’m particularly blessed with people who constantly weave in and out of my life, creating, what I think, is a technicolor mural of ideas, support and vision that aligns with whatever is going for me.

For example, I recently was talking and listening to some like- minded individuals and heard a women talk about having “brain freeze”. She, like me, recently experienced herself unable to think or do basic self-care. And it was around, in this instance, money.  And how her perception of “failing” in something in the past was now scaring her to bits and she was in some sort of trauma. Sandy Thomas was able to articulate this clearly because it’s what she’s an expert in. Healing trauma through her coaching work. She understands that in a lot of cases, it’s the trauma that holds us back from reaching our desires. I’ve been inspired to add her details below because it’s work that I believe is valuable and necessary for anyone who’s “stuck” in this place.

I was intrigued. I figured that since I was unable to remember what groceries I had to buy at the shops, or where I’d actually put the milk, this was something I wanted to understand and move through as quickly as possible.  Since my last post, I was contacted by others who had gone through something similar. I was touched by a friend who called to tell me how long HE had experience the grief of closing his business too. 3 years! He said, “It’s like a life you’ve brought into the world that’s gone.” Well that’s put it into perspective.

I guess “grief” or the traumatic effects certain experiences have on us, leave us bewildered and unless we have some idea of what’s happening, we get stuck in the that cycle for too long. Self-sabotage then becomes our new friend and in an effort to avoid the pain, we also avoid the very grief that’s required for us to thaw out and move on. Knowing we are NOT the same person and can do things differently, is waiting on the other side if we’re willing.

Since I’ve taken to this sabbatical, I’m pretty clear the space has been provided for me to work on this stuff. But there’s been signs of clear and present danger. Acting and achieving way below my means and ability. Staying safe. I think not.

So in a gentle manner I have moved slowly this week in hope that I can come out of my own grief and trauma and get on to the next chapter. It turns out, that chapter relates to many areas in my life…funny that.

By the way, here are some of the techniques I used to move myself gently out of the trauma to reconnection with self and my life.

I guess firstly identify the natural ways you connect in your life when you’re not in trauma. So for me this looked like:

1. Stayed connected with my “clan” or group of friends, or friend who is able to hear me or support me. Community helps us feel that we belong. And a strong friendship means we matter to someone AND they matter to us.

2. Get connected with your body. Massage? Walk? Dance?  I found this difficult to start with, but I just forced myself out the door. To move into my body and get in touch with my body and feelings was paramount to moving through this process. Get present so you connect with your senses too. Smell, taste, feel. etc

3. Gently turn towards, and reconnect with that which I was avoiding or had shut out.

4. Pray-some find this useful or it’s not in their repertoire. It’s about spiritual connection which may also entail meditation or walking along the beach. Or getting in touch with your HP-Higher Power, something bigger than ourselves. This comes in different formats for everyone. Some sort of thread that connects us to life and people.

5. Be conscious of any environment that you know (gut) might be too overwhelming or demanding right now. Keep it simple.

6.Journal your thoughts. For some, this is useful already. So keep at it.

7. Get in touch with nature or art. Personally music just does it for me. Or the observation of art works as well.

About Sandy Thomas …

Sandy Thomas is a highly qualified Life, Career and Business Coach.  She is a Peak Performance Expert, NLP Practitioner and Social Ecologist who specializes in helping individuals to break through the “glass ceiling”, remove blockages reach their potential.

For a limited time Sandy is offering you an opportunity to try one of her Performance Breakthrough Strategy Sessions and she guarantees within 2 hours you will achieve these breakthroughs…

·        Identify what you want to achieve

·        Discover the #1 thing stopping you from achieving your goals

·        Create clarity and a clear path to achieving those goals

·        Completethe session with a sense of knowing EXACTLY what to do next to achieve your goals.

To break your glass ceiling and move forward call Sandy Thomas now 0410 580 062 begin to arrange YOUR breakthrough consultation.  Introductory Special offer 2 hours for the price of 1.  Valid till 20/12/11.  Limit 1 per person

Sandy Thomas 0410 580 062

Delayed grief. It really is over.

Image by Anders Ljungberg via Flickr

Yesterday it became apparent to me, that I had forgotten (or was unable) to grieve about this loss. Even as I write this, I find it weird and uncomfortable. Eckhart Tolle, Caroline Myss and Wayne Dyer, to name a few, all talk about this through their work and experience. I’ve seen dis-ease take away loved ones. Their body unable to hold the awful truth anymore.

So whilst fighting an off-again-on-again virus, I just knew something else was up. Perhaps the inability to sit still, with myself let alone with others, led to me to a different conclusion. I believe in any case that our body talks to us. If we listen.

Over a chat with a friend, and sharing some of my daily experiences around “getting on with it”, she said in response …”it sound like you’re heart-broken.”

Heart broken? Tears welled up and then it hit me. Well yes. Something I had built from the ground up, a dream, a vision  buried. And the decision had to be made quickly and I was the one had to pull the plug.

The shop wasn’t just a business opportunity. It was an expression of self. To a degree they all are. Parts of what we believe, what we want, what we want to share and what we want to become or have put off for some time.

To be honest the pain has disabled parts of that self. And I have sat frustrated wondering where at the very least, that women has gone. I have convinced myself…to some degree that playing SMALL is safe. For now anyway. But it seems apparent to me that no matter what, no matter how painful the experience, our essence cannot disappear. It sits in waiting for us to grieve the loss, so it can “get on with being”. And when we don’t, it manifests in disease.

So grieve I will.

Recession talk. For God’s sake it’s okay to talk about it!

Image by DaDooDa via Flickr

At a kid’s party recently I caught up with a mum who runs her own translating business. She asked me about what had happened to my shoe shop, and as I hit the bit about the recession’s impact, she remarked that people don’t want to talk about it. Still. I was stunned. Really? Still?

This is not the first time I’ve heard this from business owners. In fact my first encounter (back in 2010) came from a neighbouring restaurant owner who was incredulous by a similar experience. As she put her finger to her lips in a hush motion…she whispered to me, “Niki no-one is talking.”  Of course she spent quite a bit of time on my couch (okay it was a ottoman for my customers, but hey it worked miraculously for these debriefing sessions).

There’s those who DO talk about it, want to talk about it (perhaps it’s those who now know it’s hit them too). Not because they want to “blame” something for what’s happening to the business but because it REALLY is happening to their business. Could our pride/shame and attachment to success be the reason some shy away from it or stay in denial? That could be a “Yes!”

One might argue of course that it’s no one’s business. And that’s true too. But what happens for newcomers out there, or even business’ who have survived the last recession but are crumbling under this one?

But here’s  the thing.  One of the steps I took and would recommend is to talk to others. I mean get out there, talk to your neighbouring businesses, friends in business etc. bypass the papers, (well read them but hit the average Jo running the clothing store down the road).  I found if I was open, honest and vulnerable (it never felt good, but I did it anyway), then others wanted to connect and tell me about how they were not sleeping at night as well. What they were implementing (or not), what their fears were. Not to mention how their customers were behaving.

I didn’t stop there. I spoke to my suppliers too. Some were suggesting all was well. One in every ten. So the other nine could not be wrong. Their honesty was palpable because it really meant I was not alone and felt instantly connected to a whole host of other retailers via this one supplier. And that gave me more to work with, (negotiating-like asking about consignment stock). It also helped me with my decision-making in the end.

Closing down the store was now founded on fact. It took me out of “It must be something I’m doing” to “It’s certainly not everything I’m doing”. There’s a another force to be dealt with here. To accept. To acknowledge. And to surrender to. The one, that no matter what I tried to do (and I did), couldn’t rattle the impact it was having on my customers. That was a huge relief.

Today I believe, more people are coming out with it. I don’t know if they’re talking to each other, (as retailers) but they’re talking none-the-less. It seems the closer one gets to making THAT decision about whether to liquidate or not, the more one expresses their truth.  We need more of that.

Related articles

• To small business owners, it’s a recession (csmonitor.com)

Lease or release me?

Image via Wikipedia

I recently heard that more tears get shed from prayers being answered than those that do not. I was moved by this awareness and truth. Do we really believe it will get answered and when it does are we able to contain and/or accept its delivery?

My prayer to get me “unstuck” came in a most peculiar way. I doubt there’s anyone who would argue that carefully considering a renewal option in  a lease is critical. Except I forgot to renew mine. For those who don’t know, the “option to renew” is the basic the right the tenant has at the end of an agreed period, to take on the lease further. For me that meant signing up for another 3 years.  When the shift in sales occurred, the idea of another three years scared me so much, that it was then that I realised the renewal was up. My next thought was, “Oh God, now I’m in for another 3 years!” But for those who don’t know, it means that you’re basically month-to-month. ie. you can give 30 days notice and so can they. My prayer was answered by default. Forget it to renew…and you’re “unstuck”.

The relief that came with that was tremendous and since I hadn’t heard a peep from the agent or landlord, I figured they were happy (strangely enough) with this situation. Odd very odd. But for me it meant I could work on the next 6 months keeping my eye on the recession pulse before I make a decision. It was about the 6 month period, that I found why I hadn’t heard a word.

The plan was (unbeknown to me) to sell the building, giving the landlord greater options and price for the sale. Aha, it was now coming together. The new landlord paid a hefty price for the commercial property and I was  faced with the new rent increase. At least another $20k on top per year! Really it was a no brainer. And to be honest, had I signed the renewal, I probably would’ve nailed a reasonable rental period, and reasonable increase in rent. But given what was happening…most retailers suggested I was lucky to be “unstuck”.

Having said that, when it comes to the lease renewal period in this climate,  I would consider carefully the following decision-making factors:

• do you have enough cash flow and or, back-up money to get you through the next lease period?
• what’s happening around you, talk to other retailers in your area who are stuck…what are they saying? A
• what about your plan to keep building your business during the period? What’s the plan?
• is there room to negotiate down? Some landlords can be reasonable albeit realistic and know it’s best to lower the rent over a tough period so avoid the risk of chasing money etc
• would you consider moving if the rent went up? What’s the cost of that?

I still wonder though, how much of this was because of my deep desire to get out of what I could see on the horizon. The prayer and subsequently, the answer. I will never know what would’ve happened if I had a lease.  I know one thing…I wouldv’e needed some more internal strength than perhaps I knew I really  had to keep going. In any case, it’s worth considering all options, external or otherwise in these turbulent times.

How to get out of business? The best was yet to come.

I’ve always wished for a crystal ball? Anyone else? Really? You too hah?

Once I made the decision to get out of business…I had a visual. I strong desire (since I was now completely over it) to walk away with as little as possible. The idea of finding storage for the fixtures, and stock and everything else was so incredibly overwhelming that I just kept seeing myself literally just walk out with nothing. It was a strong desire. And it was now the driving force behind all my decisions.

In the meantime I was wondering how in the hell I was going to move this stock in 30 days (crazy stuff) since the new landlord was not interested in giving me an extension.  I began to ask friends and suppliers in the industry about tips on how to do this. Surely though, I thought, there had to be a strategy designed by someone, somewhere, that was all about closing down and getting rid of everything in a way that minimised losses.

I began to search here in Australia. Nada. Nothing. Nil. I was alarmed, but determined. Surely I thought, surely, someone has done this, wanted this, created this, worked it! ?

I was also aware that I could quite easily over discount, or under discount the stock. There is a fine line between discounting too  much too soon( and as a result lose some profit that I could have made), and not enough so that I’m stuck with stock. But what stock to discount and by how much, and when?

My search was on, and I finally came across an American company called Retail Sales Pro. They spoke my language. I couldn’t believe it. I responded to their inquiry page with some scepticism (they were American after all) and waited to hear back. Admittedly they asked for some detailed information about the position of the business which instantly made me realise that they were the real deal. And that they chose carefully who they helped.

I’m glad to say I took them on. I will go into some detail in other posts about what I learnt in this process but quite honestly, I could never have done what these guys did on my own. I was now hanging on to every dollar I had so I could pay back my suppliers. RSP encouraged me to spend so that I got as much as possible out of those 30 days. They had a “proven” marketing formula.

You know this decision was like getting into a relationship. To see if it’s worth it, you can’t sit on the sidelines. You gotta get in there 100%. So that’s what I did.

I walked away, with 1 fixture (which is now my dresser at home) and 2 boxes of shoes. I had over $60k worth of stock to start with! Everything sold. All my fixtures, stock, and office equipment. I even sold the alarm, the shelves, the props and the light box.

I learnt so much from this experience that my desire now is to do the same here in Australia for other retailers who find themselves in similar circumstances.

And I’m proud to have worked with and be a part of Retail Sales Pro.

Closing down well should be as good as the excitement of your first day. And as succesful. Besides I know all the sweat and commtiment that goes into running a  business, so this was a great way to end it. And it still feels good today.

 

Superwoman has left the building.

Image via Wikipedia

In truth, writing this blog, and the honesty I try to bring to it has not been easy. I don’t always want to look at this chapter. I’m terrible at accepting what doesn’t work out. Although Seth Godin wrote a whole book just on this, called The Dip. “ The Dip will inspire you to hang tough. If not, it will help you find the courage to quit-so you can be number one at something else.” And in the end, I think that’s what makes a great business person.

But more about Superwoman…

I bought the idea, along with the Manolo Blahniks, that I could and would have it all. I was a mum when I first opened the shop. My son was 4 at the time. Not to mention I was now co-sharing his upbringing with his dad.  A euphemism for separated.

In my Spartan approach to life, I was Superwoman or was it “Spartanwoman? I was going to run this business, find great staff, make great windows, deal with my divorce, go out, look good, stay healthy, and be a great mum. And that was just in the first year!

And under this delusion, I began to notice the consistent feeling of guilt taking over my existence as I switched the many hats that I began to wear. I could not keep up with the status of my son’s schooling activities. Book week? New lunch menu? Homework? Nits? What to cook? Is he happy? Is he ok? When did he learn to this or that?

When that guilt took over, I poured energy into being present with him (not easily done, when you’ve just looked at 400 shoes to pick from for the following season). Once I moved into THAT zone, new guilt emerged about my business. Marketing? Am I here enough? Am I focusing on sales enough? What about the staff? Stock? Newsletters? Feedback? Etc etc

Not to mention the piggy in the middle. Me. Exactly where was I? And how was I travelling?

Here’s the fallacy that finally also led to me wanting to close down the business. I was exhausted. I could NOT do it all anymore and something, or someone would always suffer if I tried. Primarily the relationship with myself. Somewhere along the line, I only wished I had a partner to share the shop with. But my rational thinking was opposed to partnerships so that was out.

Burnout. One of the many reasons why making the call to close the business came about. I finally had to gather every ounce of strength I had to progress to the final stage. Going out with a bang. And Superwoman had one last episode to run. For her I am grateful.

A gripe about Sydney window displays.

I’m sorry but there’s no point being polite here. I’m forever amused and disappointed by the non-creative aka boring, window displays I come across in Sydney. A mannequin here, a shoe there, sometimes the window will make me stop but that doesn’t happen often enough.

What ever happened to engaging a customer? Big department stores have done it for eons but little stores still fail to give an edge to their window display. And it’s not that hard. Last time I was in Milan, I spent a day on one street just window shopping. Why? Each shop did their damndest to make sure their display was better than the shop next door. How did they make that pair of pants out of paper? Ok, we are talking major budgets but I know first hand that being a little resourceful can reap benefits.

We all have ideas and if we don’t, then find someone who does. Guaranteed a friend, staff member or a visit to a prop shop should open up the mind. Even a Reverse Garbage  centre will have heaps to work with and they don’t cost much at all.

One of the greatest pleasures and successes of Niki Shoes was the monthly display.  And what I got in return was a plethora of wonderful comments from customers, kids, passers-by. After three years in business, customers would still come in and talk about some of my earliest windows. Their face lighting up as some part of their own inner kid was alive and well just by noticing the window.

It really didn’t cost much to do. Maybe $200 a month.  Sometimes a bit more, sometimes less. But it was all worth it.

I also used some of the props again and again. eg. The shoe tree. Mark Privett whipped up two tress that had detachable leaves and on there sat the shoes. And then there was the ferris wheel. Again a design in my head brought to life by Mark. This wheel not only turned but was sizeable to hold a shoe on each carriage. It stopped traffic. Literally.

In times like this, where most small retailers are cutting back on expenses, this one is to be kept up, if not turned up. And I’m happy to help. But in the meantime enjoy some of the window dressing I put together for Niki Shoes.

In the beginning…I didn’t listen.

One of my fondest memories and greatest regrets (although who was it again that said “If we knew better, we would do better?”) was a visit from my ex-boss when I first opened my shop.

I worked for this man and his shoe business in 1994. And as great stories go, he took me in and taught me a lot about retail, shoes and the front line of running of shoe store. Fifteen years later , he walked in to congratulate me. It was a big deal. He loved it and wished me the best. All that nice stuff.

But I also distinctly remember feeling a sense of concern, seriousness, like dad had come in with a cautionary note. He said, “whatever you do, don’t pay yourself in the first year. Pay your bills, your rent, your suppliers and then put the rest away.”

I can’t tell you how many times I’ve revisited that day. I, of course and my young business mind, was revelling in the way the store was already going. Marvelously. Customers buying up the shoes and loving the shop. I knew nothing of what he was saying. What did he know anyway? He was in business for how long? 20 years! But just like a teenager, I scoffed at his advice and paid myself way too much. That was the beginning of “my part”.

If I had THOSE funds, here’s how it would have impacted my business in the long run:

•  have the money to ride the wave of the GFC
• spend the money on effective marketing to bring more business into the store
• continue to pay myself (one the GFC hit, I cut back on my personal weekly salary)
• pay back the loss that had been acquired before I decided to get out of business. The sale itself was an amazing success but I was still left with the pre-sale loss which I then had to cover after the closing of the store.
• use the funds to move to another location-the landlord increased the rent at the worst time (why does that happen????) and I was too nervous to make that move during the economic crisis so I just shut shop.
• Set up an online store. I have no way of knowing what sales this would have generated. And I was to tired, scared, annoyed and unsure to make that leap.

The list goes on and on. And it’s done. It’s funny how putting a bit of money away as a safety net, never occurred to me when it came to this business venture. I realised that the principles in life, stretch over everything.