{"id":7124,"date":"2018-10-28T11:58:31","date_gmt":"2018-10-28T15:58:31","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=7124"},"modified":"2018-10-28T11:58:31","modified_gmt":"2018-10-28T15:58:31","slug":"how-entrepreneurs-can-leapfrog-to-success","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=7124","title":{"rendered":"How Entrepreneurs Can Leapfrog to Success"},"content":{"rendered":"
<\/header>\n
\n
\n

\"\"<\/a>Leapfrog\u00a0<\/em>is the title of a clever, helpful new book for women entrepreneurs by Nathalie Molina Ni\u00f1o, CEO and founder of\u00a0BRAVA Investments<\/a>. Molina Ni\u00f1o\u2019s company invests in startups and supports businesses that can prove \u201cthey are creating a measurable economic benefit that puts more money in the wallets of women.\u201d<\/p>\n<\/div>\n

\n

Her version of leapfrog, though, is quite a jump from the simple children\u2019s game where someone effortlessly vaults over another.\u00a0 Molina Ni\u00f1o\u2019s leapfrogging is done by following her 50 \u201chacks,\u201d each a succinct chapter helping women business owners and wanna-bes leapfrog over hurdles and thrive. Her advice is thoughtful, not playful, and a little irreverent, which makes for both a fun read and a reason to implement the tips.<\/p>\n

\u201cHacks aren\u2019t so much about cutting in line, as identifying gaps to fill and taking our shots, rather than waiting for them to be offered,\u201d she writes. \u201cPlaying by the rules and waiting to be rewarded for doing so is how we get stuck playing small \u2014 in lower-paying jobs and in a headspace where we lack the audacity to leapfrog into entrepreneurship.\u201d<\/p>\n

Read on Forbes<\/a><\/strong><\/p>\n

The \u2018Leapfrog\u2019 Mission<\/h3>\n

Molina Ni\u00f1o is on a mission to champion and grow female-owned businesses; in fact, the full title of her book is\u00a0Leapfrog: The New Revolution for Women Entrepreneurs<\/a><\/em>. A skillful and successful serial entrepreneur, she\u2019s especially fond of women risk takers with a vision. \u201cLeapfrog, shortcut, hack \u2014 let\u2019s just call it what women need to do in order to get their fair shot, and get it now,\u201d she writes. Successful leapfroggers, she adds, \u201cturn anger into energy. When things go sideways, that energy becomes fuel for their creativity and drive.\u201d<\/p>\n

Her book covers a sweeping landscape of topics from how to raise capital through smart\u00a0crowdfunding<\/a>\u00a0to trying to avoid saying \u201cI\u2019m sorry.\u201d After reading\u00a0Leapfrog<\/em>, I interviewed Molina Ni\u00f1o to hear more; below you\u2019ll see my six favorite hacks.<\/p>\n

I was glad to learn that she doesn\u2019t think launching a business is only for millennials. \u201cDespite what you see on covers of magazines and case studies of Harvard Business School, the actuarial data is very clear; women over 50 are twice as likely to be successful as other entrepreneurs,\u201d she says. \u201cIf the business world actually made decisions based on what is statistically likely to yield on investment, we would only be investing in women over the age of 50.\u201d<\/p>\n

\"\"<\/a>
Nathalie Molina Ni\u00f1o, CEO and founder of BRAVA Investments<\/figcaption><\/figure>\n

Molina Ni\u00f1o says these women know that if they lack necessary skills for their business, they\u2019ll find a partner who has them. I wholeheartedly agree. Women are born collaborators, and this can help them leapfrog when launching.<\/p>\n

As promised, here are my favorite six tips from\u00a0Leapfrog<\/em>:<\/p>\n

1. Become a Walking Sandwich Board.<\/strong>\u00a0\u201cSo you have a burning idea or a young business,\u201d Molina Ni\u00f1o writes. \u201cNow: Who have you told?\u201d The answer should be: everyone. Otherwise, you\u2019re missing out on one of the easiest, cheapest, most effective hacks around.<\/p>\n

As Molina Ni\u00f1o explained to me: \u201cWomen have really good reason to be reticent to unveil things before they are fully baked. because the level of scrutiny that we are under is measurably more significant [than for men]. Perfection is what is expected of us.\u201d<\/p>\n

Her advice? \u201cStart putting things out there and allow the collective to evolve your thinking. Don\u2019t rob yourself of the community think that helps your idea get better.\u201d<\/p>\n

In her book, Molina Ni\u00f1o says that getting feedback \u2014 positive and negative \u2014 is how your business idea gets baked. \u201cSo stop worrying and start finding the people who can help. The upside of spreading the word far outweighs the risks.\u201d<\/p>\n

2. Hack Your Inner \u201cPeer\u201d Circle<\/strong>. Start a diverse \u201cMastermind\u201d group with six to eight women, she says. This is more than networking. \u201cIt\u2019s connecting. There is a trick to it. You need to make a commitment,\u201d Molina Ni\u00f1o told me. And you may need to add a person or two along the way to get the best results.<\/p><\/blockquote>\n

For her Mastermind group, she made a nine-month commitment to one special dinner with the other women each month.<\/p>\n

\u201cWe had diversity in terms of ethnicity and industries. But as I was getting ready to curate, I realized that although the six women I brought together were radically different, they had one thing in common: They were all very polite and borderline soft-spoken,\u201d she explained. \u201cI knew I had to mix it up, so I brought a loudmouth into the mix, and she was the glue to the group.\u201d Go outside your comfort zone for who you bring into the group, she says.<\/p>\n

Be sure you have an agenda for these dinners, advises Molina Ni\u00f1o. At her dinners, \u201cit is not loosey- goosey,\u201d she told me. \u201cWe go around the table, and we each have a moment to talk about how we did with our previous goals. We are meant to come up with two or three concrete things we are going to do each month. These are not big, like \u2018improve sales,\u2019 but instead, \u2018add three new customers\u2019 or some measurable goal. Then the first thing you say is how did you do.\u201d<\/p>\n

Periodically, members need to push back. \u201cIf something didn\u2019t work, we ask each other: \u2018What are you going to do that\u2019s different?\u2019 So you have that accountability,\u201d says Molina Ni\u00f1o.<\/p>\n

Accountability is imperative in the initial stages of entrepreneurship because that\u2019s a period full of unknowns, self-doubt, and in many unfortunate cases, loneliness, according to Molina Ni\u00f1o.<\/p>\n

When choosing the members of your Peer Circle, writes Molina Ni\u00f1o, \u201cyou can\u2019t rely on serendipity to bring you a network or assume your lifelong best friend will know how to support you. Use every tool available: Facebook, LinkedIn, your school, your mosque, your neighborhood bulletin boards, your chamber of commerce \u2014 these are all places to recruit.\u201d<\/p>\n

You might also get help from an organization or business that connects and supports women entrepreneurs. Three of Molina Ni\u00f1o\u2019s favorites:\u00a0Dreamers\/\/Doers<\/a>,\u00a0SheWorx<\/a>\u00a0and\u00a0Black Female Founders<\/a>\u00a0(#BFF).<\/p>\n

3. Steal Paper Clips.<\/strong>\u00a0Don\u2019t actually\u00a0steal<\/em>, Molina Ni\u00f1o writes, \u201cbut look for honest perks. Chances are you\u2019re starting your business as a side hustle. What resources are available at your day job? Is it a source of contacts, training, support or clientele? Can you use it to build influence and reputation that pave the way to your new business?\u201d<\/p>\n

If your new business complements, rather than competes with, your employer\u2019s, the customers and contacts you\u2019ve dealt with could be a natural marketing or distribution partner down the road.<\/p>\n

4. Raise Prices. Stat.<\/strong>\u00a0\u201cIt\u2019s jarring to me the damage you do to your own psychological well-being when you undervalue yourself,\u201d Molina Ni\u00f1o told me. \u201cWhen you price yourself and your product and service in a way that values your time and contribution, there is this huge upside \u2014 more than to your bottom line, but a gain in your\u00a0quality of life<\/em>.\u201d<\/p>\n

Just as in salary negotiation, however, women routinely ask for less from customers and clients than men, she pointed out. There are plenty of reasons women can fall into this trap, MolinaNi\u00f1o says. For example, you worry you won\u2019t find customers who can afford you or that your existing customers will leave.<\/p>\n

\u201cWhen you take a stand for your product or service by raising prices and get the\u00a0yes<\/em>\u00a0nod from the market, the emotional benefit is off the charts,\u201d she writes.<\/p><\/blockquote>\n

5. Cash In on Your Women Card.<\/strong>\u00a0\u201cMany corporations and government agencies have a mandate to prioritize diversity when they seek vendors, suppliers and partners, but most of us don\u2019t have any idea these programs exist,\u201d she writes. \u201cSo scout the internet for opportunities, contests and programs that are specially for women and underrepresented groups.\u201d<\/p>\n

As I wrote in this Next Avenue\u00a0column<\/a>, the effort to get certified as a woman-owned business, while difficult, has the prospective to pay you back in spades.<\/p>\n

\u201cThe pros are increased visibility,\u201d said Donna M. De Carolis, dean of the Charles D. Close School of Entrepreneurship at Drexel University and a member of the editorial board of EIX, the Entrepreneurial and Innovation Exchange, a social media learning platform funded by the Schulze Family Foundation. \u201cMost public corporations as well as local, state, and federal government purchasing agencies have programs for allotting a certain percentage of business to women-owned companies.\u201d<\/p>\n

The U.S. government intentionally looks for women-owned businesses to award specially-designated government contracts.<\/p>\n

6. Take Daily Vacations.<\/strong>\u00a0\u201cThere is no two-week vacation when you\u2019re an entrepreneur,\u201d Molina Ni\u00f1o says matter-of-factly. \u201cThere are no weekends.\u201d<\/p>\n

For Molina Ni\u00f1o, one way to stay sane as an entrepreneur s to create daily rituals. \u201cFinding five minutes to meditate or breathe deeply in a bathroom once things are falling apart isn\u2019t what I\u2019m talking about,\u201d she writes. \u201cI\u2019m talking about a practice that happens every single day, including the days where you feel such inner peace (or such a lack of time) that you think you might skip it.\u201d<\/p>\n

A Personal Four-Legged Hack<\/h3>\n

Finally, one personal note from me: If you\u2019ve read other articles or books I\u2019ve written, you may know that my Labrador retriever, Zena, is my road manager. In fact, in my book\u00a0Love Your Job<\/a><\/em>, I noted that everything I learned about loving my job I learned from her. So when I read the following\u00a0Leapfrog<\/em>\u00a0words, I became an even bigger fan of Molina Ni\u00f1o\u2019s:<\/p>\n

\u201cThere\u2019s one thing in my life that keeps me from pushing it too far: my dog, Lila. If it were just me, I probably wouldn\u2019t protect those few moments of quiet that I need every day. But she\u2019s another stakeholder, and I\u2019m never going to fail her. She\u2019s got to have her leisurely morning walk \u2014 preferably somewhere beautiful. And so I\u2019ll always have that time to recharge my batteries.\u201d<\/em><\/p>\n

\u00a0<\/em>\u201cI need my Chow Chow,\u201d Molina Ni\u00f1o writes. That\u2019s a hack I heartily endorse.<\/p>\n

\n
\n
\"\"<\/div>\n

By\u00a0Kerry Hannon<\/a><\/span><\/p>\n

\u00a0Entrepreneurship and Personal Finance Expert<\/span><\/div>\n
<\/div>\n
Kerry Hannon has covered personal finance, retirement and careers for The New York Times, Forbes, Money, U.S. News & World Report and USA Today, among other publications. She is the author of a dozen books including\u00a0Money Confidence: Really Smart Financial Moves for Newly Single Women<\/em><\/a>,\u00a0\u00a0Great Jobs for Everyone 50+: Finding Work That Keeps You Happy<\/em>\u00a0and Healthy…and Pays the Bills<\/em><\/a>,\u00a0Getting the Job You Want After 50<\/a>,<\/em>\u00a0Love Your Job: The New Rules for Career Happiness\u00a0<\/a><\/em>and\u00a0What’s Next? Finding Your Passion and Your Dream Job in Your Forties, Fifties and Beyond<\/em><\/a>. Her website is\u00a0kerryhannon.com<\/a>. Follow her on Twitter\u00a0@kerryhannon<\/a>.<\/div>\n<\/div>\n<\/div>\n

Next Avenue Editors Also Recommend:<\/h2>\n