Author: Kelli Richards

Know When to Hold ‘Em, Fold ‘Em, and Walk Away in a Business Deal

Kelli Richards February 19, 2015

When you first hit the Las Vegas Strip, the flashing lights and fast pace are overwhelming. With adrenaline coursing through your veins, you’re ready to try it all. But if you’re going to win, you need to take control and work on developing your poker face.

When new opportunities come along in business, you might feel just like you did on that trip to Vegas. But if you want to make the best decisions, you can’t let the excitement get to you. If you get emotional, the logical part of your brain will shut down, and you’ll be at the mercy of other people’s agendas.

Here are four tips to help you weigh your options, stay calm, and show the other players that you’re in control:

1. Don’t reveal your hand.

The principle of least interest, a term coined by sociologist Willard Waller, states that the person who appears to have the least interest in a relationship holds all the cards when forming a business deal or partnership.

In negotiations, always keep your cards close to your chest. You’ll maintain an advantage if you don’t reveal how you feel about an opportunity right away.

2. Consider the stakes.

Avoid getting swept up in the excitement of the game. Consider the hand you’ve been dealt as a whole. Does it serve your long-term business needs? Do you have good rapport with the other party? Will you be able to maintain a productive relationship?

If all–or most–of your business goal boxes are checked, then you’ll probably want to stay at the table.

3. Don’t go all in–yet.

If it’s your turn to bet, make sure you’re confident in your hand before pushing all your chips into the pot. Before making any business decision, you should have all the information you need. Clarify the facts, gather input from advisors you trust, and straighten out any inconsistencies in the agreement.

I once signed an agreement without first showing it to my lawyer. The other party wanted to close the deal quickly, so I signed because I didn’t want to miss out on what seemed like a significant revenue opportunity. It turned out to be a move I later regretted making. I’ve learned the importance of slowing down and getting the crucial input I need before taking action, particularly when the stakes are high.

Do a gut check before diving into any big decision. The deal could look promising–and you may have a good relationship or good rapport with the other party–but you may need to wait until you get some advice from an expert or a trusted advisor. If you feel yourself being pressured one way or another, step back and give yourself some breathing room and space. Never let someone else push you into taking an action you’re uncomfortable with or one that doesn’t feel right to you for whatever reason.

4. Know when to fold.

There will be times when folding and walking away from a deal may be your wisest move. If you evaluate the opportunity in front of you and find that the terms don’t work or the other parties involved are disingenuous, disrespectful, or otherwise unwilling to compromise and work with you to create a win-win, then it may be a sign to move on to the next opportunity.

Remember: Relationships are key, but business is business. Everyone is sitting at the table to make money. While giving in to the excitement and throwing down chips may be fun, making bad bets can cost you in the long run. The only way to come out on top is to pay attention to what’s on the table, bide your time, and play smart.

This article was previously published in Inc.

To your best success,

 

Kelli Richards, CEO of the All Access Group, LLC

 

PS: Subscribe to my FREE All Access Group Newsletter https://bit.ly/AAGNewletter

 

PSS: Listen to an entire library of intimate discussions with industry visionaries https://bit.ly/AllAccessPodcastSeries (Priceless)

 

 

How Writing a Book Can Advance Your Career

Kelli Richards February 12, 2015

A book can be a powerful tool for advancing your career and establishing yourself as a brand and as an industry leader.

When you think about promoting your brand, your mind leaps to speaking at industry conferences, sitting on relevant topic panels, contributing to online forums, and networking at events. But more and more professionals are also considering writing a book to boost their careers. And it makes sense: The market is ripe with literary opportunities, and the U.S. leads the way in self-published books each year, with 391,000 published in 2012.

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FreeDigitalPhotos.com

What’s more, writing a book is a great way to establish you as a credible industry expert. You can create a brand platform for yourself, increase your market value, differentiate yourself from competitors, and discover new ways to grow your authority in your field. But before you can add the title “published author” to your resume, you need to invest some time and energy in planning, crafting, and publishing your unique message–and understanding how the publishing world really works.

The Path to Becoming a Credible Published Author

The good thing about writing a book is that anyone can do it; there’s no licensing or training required. However, there’s more to writing and publishing a book than just powering up your computer. You have to plan and research to make your book–and, subsequently, your career–a success. Here are eight steps to create an effective writing and publishing process:

  1. Write what you know. Reflect on the topics you know best and are most passionate about. They will inspire you and make the entire writing process more fulfilling and enjoyable. As an expert in your field, it’s your experiences, insights, successes, authenticity, and–yes –failures that will set your message apart from all the others to convey authority and impact.
  2. Find your niche. Look around to see what relevant books are being published on your topic of choice; you may notice holes that you could fill within your target niche. Don’t be discouraged if your desired topic has already been written about. You can find a unique slant or approach that will differentiate you and your ideas.
  3. Write for your audience. Understanding what your audience wants and needs is incredibly important. Most of today’s readers are on the go, so they want to read content that gets straight to the point, solves real-world problems, and helps them learn new things quickly. Keep your topics focused, and format your book to appeal to your target audience.
  4. Brand yourself and your ideas. Consider creating a brand platform–with the book as the anchor and you as the authority–that drives home your message and leaves the door open for building upon it in the future. For example, a strong title will not only help you sell books, but it could also potentially galvanize an entire movement (e.g., “The 4-Hour Workweek”). I’ve always chosen very catchy titles for my books that still convey what the book is about, including “Taking the Crowd to the Cloud: Social Media for the Music Industry,” “The Art of Digital Music,” and “The Magic & Moxie of Apple: An Insider’s View.”
  5. Create a memorable presentation. Not surprisingly, the title and the back cover of a book are often the two most powerful things to consider before releasing your masterpiece to the world. They catch prospective readers’ attention and make them want to dive deeper.

I was very aware of this when designing the books, so the titles and subtitles are both catchy. In the case of “The Art of Digital Music,” the back cover was also carefully orchestrated–testimonials from credible third parties who will be recognized as relevant authorities or influencers in your field are very helpful in establishing an effective and immediate presentation and connection.

  1. Decide on your publishing path. Traditional commercial publishing might mean multiple inquiries and months of waiting, but that route is still considered more credible for some. However, given the promotional requirements put upon the author once a book is released, more authors are self-publishing with the help of distributors like BookBaby and Smashwords.
  2. Work with the best. Writing and promoting a book requires a lot of talent and fortitude, so work with a well-rounded team to get the best results. Ghostwriters and editors can ensure that your message and voice are polished and solid, and distributors and promoters can help you build and reach the perfect audience.
  3. Promote, promote, promote! Promoting your book and spreading your message is vital to both your literary success and your potential opportunities. If you put as much energy into marketing and promoting your book as you do toward writing and publishing it, you will discover many new ways to expand your authority and reach. Be aware that the author is always responsible for promoting the book, whether she’s distributing it herself or working with a commercial publisher.

Creating a campaign before the book is released is critical to having a successful launch. From promoting the book’s title and release date in your email footer weeks or months before it comes out to ensuring it’s available in all relevant outlets, the process can be taxing but rewarding. By encouraging colleagues and affiliates to promote it to their audiences and considering releasing it in multiple formats, you can connect with an even wider audience.

A book can be a powerful tool for advancing your career and establishing yourself as a brand and as an industry leader. For your endeavors to be successful, you must put careful thought and energy into the planning, writing, publishing, and promotional processes. In the end, your efforts could boost your reputation and unlock innumerable opportunities for the future.

This article was previously published in Inc.com magazine

To your best success,

Kelli Richards, CEO of the All Access Group, LLC

PS: Subscribe to my FREE All Access Group Newsletter https://bit.ly/AAGNewletter

PSS: Listen to an entire library of intimate discussions with industry visionaries https://bit.ly/AllAccessPodcastSeries (Priceless)

5 Ways The Cloud Can Make Your Business & Personal Life Easier

Kelli Richards February 3, 2015

How can you use the Cloud to be more productive at work, to enjoy and share music and video, and to stay in touch with family and friends? Here are 5 ways the cloud will make both your business and personal life easier:

  1. ID-100126965The cloud allows you to store data remotely, rather than on your home computer, giving you easy access to your files from anywhere. This can keep you productive when you’re either in or out of the office, and also allows you to collaborate with others on documents, spreadsheets and presentations. The cloud really benefits small businesses because it allows for such great flexibility. You can access your data from anywhere, on any of your devices. Because you can update and share these documents on the go, cloud-based apps enable you to brainstorm with business colleagues as well as personal connections no matter where they are.
  1. There are cloud services that offer easy ways to keep track of your appointments, schedule meetings, take notes and help you to organize your day. To-do lists can help ensure that daily tasks are not forgotten. This certainly ups your productivity in business, and can keep your personal schedule running smoothly. No more missed anniversaries!
  1. You could say that web-based email was the original cloud. Instead of downloading electronic messages to your computer, cloud email lets you log in and view them from anywhere. As far as social media, when you like, retweet or pin something, and whenever you use a messaging app, you are doing it in the cloud.
  1. For entertainment purposes, streaming music and video on demand from the cloud affords you access to millions of files, as opposed to relying on what you could store locally on a specific computer. Gone are the days of burning cd’s or placing large amounts of media on your hard drive. You can host your own files to share pictures or home movies with family and friends, no matter where they are.
  1. Many data experts remotely recommend backing up those precious memories and important business documents and using a private cloud is a great way for individuals and businesses to securely store files.  No more worrying that hard disk failure or computer theft will mean the loss of your important files. When you make use of online storage and syncing services like Dropbox, you have been involved with cloud computing. The cloud also offers a disaster recovery solution in the event of an outage.

The cloud is becoming a bigger part of our everyday lives. Use it to enhance your business and personal life, increase productivity, and to give you peace of mind when you store and back up your most important files.

Until next time,
Kelli Richards
CEO of The All Access Group, LLC

PS: Always remember that your goals are possible to achieve. Believe in yourself and your ideas. Your intuition got you this far, so trust it. Don’t ignore your own excitement. Keep the passion burning and your vision front and center at all times. It’s the perfect fuel for your dreams. Visit: https://allaccessgroup.com

Cloud InfoGraph

 

5 Simple Steps to Schedule Your Week for Business and Personal Success

Kelli Richards January 26, 2015

Early in my career, I struggled with striking a balance between my work and my personal life. I quickly found that being a workaholic was a recipe for disaster, so I took steps to create a schedule that allowed me to optimize my time and energy and focus on the things that mattered most to me.

Photo Credit: freedigitalphotos
Photo Credit: freedigitalphotos

I know how easily entrepreneurs can get sucked into unhealthy work habits and schedules. After all, the climb to success is more demanding than ever. But being a one-dimensional workaholic who doesn’t have a life outside the office can take a tremendous physical and emotional toll on you. The success you achieve this way isn’t worth as much if you’re alone, unhealthy, and/or unhappy.

That’s why establishing a schedule that really works for you–that creates balance among work, life, and play–is critical to becoming a well-rounded, happy, fulfilled person and a successful businessperson.

Scheduling Your Week for Success

My typical week consists of work from 9 to 5 on Monday through Thursday and during the mornings on Friday. I reserve Friday afternoons for “think work,” like coming up with new projects or solving business problems. On evenings and weekends, I focus on myself, my interests, my friends and family, and relaxation. And if something comes up–like business travel or networking events–I have the flexibility to weave those into my routine.

This schedule works for me because it creates balance in my hectic life. I get to do the work I love while still taking care of myself. But this schedule may not be possible–or desirable–for everyone, which is why you need to work out a routine that fits your unique life.

Here are some tips for creating your own balanced schedule:

1. Identify your priorities. Make a list of what’s most important in your life–your family, friends, fitness, mental clarity, overall well-being, faith, and/or hobbies–so you can clearly see the things you need or want to work into your daily schedule.

2. Fit work into your lifestyle, not vice versa. If you often log long hours or work seven days a week, elevate the time you need for yourself and your priorities outside of work. See if you can structure a schedule to fit your work around your lifestyle instead of trying to build a life around your work schedule.

3. Set and communicate your boundaries. Once you’ve worked out a schedule, stick to your time boundaries. Avoid working during personal time or letting your personal time interfere with business as much as you can. Communicate these boundaries to the people in your life so they can help you commit to them.

4. Look for ways to conserve time. Try to eliminate activities that waste your time every week. For example, if you sit in traffic for hours during your commute, try working from home one or more days a week. Or you could schedule several infrequent appointments (such as doctor or dental visits, car maintenance, etc.) in one day to optimize your productivity.

5. Work when you’re at your best. Schedule business tasks like meetings and conference calls for days or times when you have the most energy and focus. If you get burnt out by Friday, stack your work duties earlier in the week. If you’re not a morning person, schedule important meetings for later in the day.

As an entrepreneur, attending to your work is essential for building your business. But creating a balanced life is the key to sustained success in the office and at home. Aim to structure your time so you can meet both personal and professional obligations, then establish, communicate, and maintain healthy boundaries so you can actually live the lifestyle you desire. It’s doable!

Until next time, 

Kelli Richards

CEO of The All Access Group, LLC

This article was originally posted on the Inc.

PS: The right mentor should have the right CONNECTIONS to move you forward. Be sure to ask who they think they can bring to the table around advisorship, possible collaboration and even funding. Visit: https://allaccessgroup.com

 

COPING WITH FAILURE The Ultimate Entrepreneur Pep Talk: 4 Important Affirmations for Any Innovator

Kelli Richards January 19, 2015

You were prepared for the uncertainty that comes with entrepreneurship. You braced yourself for the long workdays–and for your first business failure. You were ready for just about everything–except the inner strength it takes to be your own biggest motivator.

Sure, it would be great to have your own personal coach wake you up every morning with breakfast in bed and a hearty “Go get ’em, tiger!” But that’s not likely to happen.

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Photo Credit: freedigitalphotos

Nobody is waiting at the finish line to give you a medal for getting your business off the ground. Nobody is as invested in your idea as you are. You need to learn how to be your own coach, and it starts with giving yourself a killer pep talk (daily if necessary, then rinse and repeat).

If you’ve seen “Jessica’s Daily Affirmation,” you know how infectious personal motivation can be. Boosting your self-esteem won’t just add power to your day; it’s also likely to give your whole team a boost.

You don’t need to climb into your sink like Jessica to psych yourself up (though it obviously does help), but you do need a mantra. Here are four of my personal favorites:

1. “The journey is the reward.” As an entrepreneur, the work you love doing is often overshadowed by revenue goals and other targets you put in place to gauge success. But as one of my most trusted mentors, Alan Cohen, says, “Do not be fooled by waiting for the ending. Sometimes the middle is more important.” Rather than looking ahead and feeling dissatisfied because you aren’t where you thought you’d be (or “should” be) yet, stay present to take in the experiences around you and appreciate where you are now.

2. “Plan A is overrated.” If Plan A doesn’t work, there are 25 other letters in the alphabet. Perfectionism can motivate you, but it can also be limiting–especially in the startup world, where markets, trends, and resources are always in flux. Often, the very best idea is the second, third, or eighteenth one that you try.

3. “No naysayers allowed.” If you are passionate about your project and your intuition tells you that it could be successful, don’t pay too much attention to doubters. Instead, find the people who share your vision and will root for you and stand beside you when things get tough. These are the people who can help you by offering fresh ideas and perspectives–and a hearty dose of motivation. Good things happen when you work with people who believe in you and complement your strengths.

4. “Every failure is a step closer to success.” In business, you can often learn a lot more from your failures than your successes. You learn how to adapt, identify your strengths and weaknesses, and gain new insights into your industry.

More importantly, you learn what you’re made of. You failed, yet the sun still came up in the morning. You’re still standing. And you’re probably a little wiser for the wear. When you dust yourself off and try the next idea, you’ll be better prepared and much more likely to succeed.

Having a list of mantras that you can pull out of your toolkit in any situation will prepare you to turn challenges into successes. If all else fails, a simple “You can do it!” can give you that boost you need to keep going. Remind yourself that you’ve done it before and will do it again.

Until next time, 

Kelli Richards

CEO of The All Access Group, LLC

This article was originally posted on the Inc.

PS: Always remember that your goals are possible to achieve. Believe in yourself and your ideas. Your intuition got you this far, so trust it. Don’t ignore your own excitement. Keep the passion burning and your vision front and center at all times. It’s the perfect fuel for your dreams. Visit: https://allaccessgroup.com

 

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