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Lindsay’s In Business: PART 80. Shiny new avenues

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What happens when you realise your path is entrepreneurship rather than employment? Lindsay takes up the challenge and shares an account of her journey as it unfolds…

It’s 6.45am. I’m trying to meditate but my upset head keeps butting in. Normally I tune in to my senses after a yoga stretch and focus for 10 slow breaths. No thoughts. Just observing senses. Today I can’t get beyond 3. My anxious mind keeps trying to solve the discomfort that’s been creeping in over the past few days. Small things that people have said have brought doubts to the surface:

• In discussion about what kind of company will want to buy Mirror Mirror: “But how many companies are prepared to truly empower their people? Not that many.”

• As I look at the new reports coming out of our new software system I recall: “It’s only the very brave line managers who will want to look under the carpet to see what’s actually going on.”

• As I look at the website of someone competing in the same space and see their global footprint, the output of their well-funded marketing machines, a voice in my own head says: “What happens if Mirror Mirror starts getting a lot of business? What makes you think YOU’VE got the abilities to take it forward?”

It’s now 8.30am and the girls have just left for school. I’m feeling insecure and at my desk making a call to a friend who is happy to be a sounding board now and again. He used to work for McKinsey and now works for an investment firm. Very high- quality sounding board… “You need to get data,” he says. “Focus on what the buyers like – they’re your early adopter market. Just like how the lean feedback loops work, you need to ask your customers and facilitators key questions. How did Mirror Mirror help you? What would make it more helpful.” I take the advice. Gratefully of course, it’s fantastic input. I capture and diarise doing that – while knowing the numbers of people we’re talking about is small, that so much has changed about Mirror Mirror that the reference point keeps changing. But it’s still a great, objective reality check – ironically. But I’m still upset NOW, more conscious that the massive elephant on my desk has a big sign on it that reads ‘WHERE ARE ALL THE CLIENTS?’ God, after all this time – where is my faith I the potential of Mirror Mirror coming from. My biggest fear – being deluded – sits red hot by my side.

9.30 am and I call Anja. You know – Femflections founder Anja. She offers balanced, supportive and constructive coaching from a place of real experience. I’m having a coffee while talking with her, hearing the reassuring viewpoint that Mirror Mirror is just going to be a long journey because it’s such a new product. That what I’m experiencing is the journey of an entrepreneur and no, I’m not mad. As usual, she makes a link to more of her contacts. With these two helplines, I’m ok to take my next call.

It’s 10.00 and the call is scheduled with Mr Doe, let’s call him. He’s a long-time communications expert in the public sector, very well connected, exactly my target market. Maybe I should reschedule that call to when I’m on top form, but no. Having had a couple of very good conversations in the past, let’s hear what he has to say. Summarised, this was his response: “I’ve been thinking about Mirror Mirror. It’s exactly the kind of tool we need to plug a gap in the offerings to clients. Let’s pitch this to the executive board and run some trials with our clients. Give me a draft pitch pack and we’ll work on it together beforehand.” We spoke for an hour. What a fan.

And now … what do you think? YES! I’m up again!!! The upset has disappeared. Those doubts are a silly memory and I’m all fired up. Not because I think this guy is a silver bullet – and it may not happen with his agency of course – but his kind of reaction and the other reactions I get like that make sense. Get the offer right and Mirror Mirror has huge potential.

It’s 1.30pm and I’m on the phone to a good friend / business contact in Germany. It’s an advice call I set up in my state of unease the day before – not knowing who would be available to talk and when. Now I’m a bit worried I might be taking up her time unnecessarily. She’s in the US but insists we go ahead. We speak for 30 minutes. She helps me see things in context – ironically. Here’s the context: For the past 4 months I have focused on getting the business ready: software, positioning and strategy. I consciously let go of business development and now that we’re nearly ready to go, I am returning to the pipeline and staring in dismay at the lack of activity. So, of course, there’s no activity! We’re just starting on a revised strategy. I know why the last strategy didn’t get us the sales we were looking for. I’ve adapted the business model and here we are. She also said, “Sit with it. Sit with the doubts. Don’t fear them, they’re telling you something – and in this case it’s that you need to focus back on business development.” Wow – how profound – don’t push away a feeling because you are scared of it. It’s just a feeling. I am so privileged to be able to call up experienced, top class advisors for free at short notice. I spend the afternoon regrouping and getting on with it, ticking stuff off my list. This business model is so much clearer and more focused. The motivation and flow returns.

It’s 3.40 and the girls are back from school. It’s time to take a break see what’s for dinner. While doing that, I can’t help but reflect on all the other avenues I’ve been down that started out looking shiny but only led to brick walls:

• The agency in London right at the beginning that were going to partner up but didn’t want to sell – I don’t blame them now!

• Approaching the BIG Four and other such players, thinking they’d lap up an idea like this – but getting no response

• Targeting agile – only to find Mirror Mirror is a great complimentary offering but isn’t yet something that agile coaches see as being in scope for them and their work

• Seeing Mirror Mirror could be offered as a training programme, and getting on the portfolio of a huge training provider, but not getting much interest (yet) – perhaps because they’ve priced it out of the market?

• Targeting merger and acquisitions – only to learn that the decision makers in these deals don’t care about alignment – they don’t spend on this stuff

• And the countless other clients / consultancies who have promised shiny door openings – I can think of 5 immediately – and you get part way down the path and then they just don’t return calls or mails.

I don’t regret going after those avenues because of all the learnings they provided. Yet I hope this current track isn’t another false start. Again, I check the logic. Yes, this direction makes sense. I’m still in the game. Then a friend of mine sends me a newsletter from James Clear. He writes weekly with 3 ideas, 2 messages and one question. The first idea is this: To improve, compare little things. -marketing strategies -exercise technique -writing tactics To be miserable, compare big things. -career path -marriage -net worth Comparison is the thief of joy when applied broadly, but the teacher of skills when applied narrowly. Hail all generous advisors! Thank you!

Mirror Mirror is a tool that identifies, measures and addresses the alignment gaps that drag down performance.

Your story, our platform: If you’ve got a story and would like to share it with other Femflectors, please let us know. Femflection is all about transferring learnings to help others, be they big or subtle. We want to connect with your feelings, your learnings, your reflections or your hopes for the future – in blog or interview format. Express yourself here. Get in touch with us via anja.uitdehaag@femflection.com

For more content visit our website http://www.femflection.com

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Lindsay’s In Business: PART 72: General update

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What happens when you realise your path is entrepreneurship rather than employment? Lindsay takes up the challenge and shares an account of her journey as it unfolds…

YESTERDAY: You know what?  Sometimes I think the western working world has turned into much more of a cut-throat, unethical, selfish place to operate than it was before.  People promising contracts to keep their options open. People – with whom you have invested in establishing good and respectful working relationships – just blanking you: not bothering to return calls or emails if they don’t need you.

Maybe it’s always been like that and I know it’s much worse in other places.  I say this because the oil and gas company that we spent 4 months and 3 proposals courting; the one that sent an email accepting the proposal and saying they’d just get the written formalities sorted out; the one that I’ve been telling everyone about and banking on the revenue of – is now not in communication.  We can’t reach them.  They haven’t cancelled – but will this evaporate?  What’s going on?!

Here’s the email we got from the BIG potential client 6 weeks ago:

Many thanks for our discussion today.

To confirm, it is our intention to proceed on the basis of the proposal (attached) and as such we will look to raise the Service Order next week for the initial amount in order to secure your services ahead of the kick-off meeting.

We will look to have the kick-off meeting soon (April/May) with the bulk of the work occurring in a few months time as more technical aspects of the project take shape.

I look forward to working together on this aspect of the project.

Best regards,

Nothing since and it’s now mid-May.  We think they could just be busy and will get back to us next week to set up the delivery time frame. I’m going to actually cry if it falls through.

Meantime, thankfully, this ‘gap’ has been overshadowed by enthusiasm from an even bigger opportunity.  It’s with a training company via Mr.P (I mentioned him a couple of blogs ago).  This is where Mirror Mirror turns into a team effectiveness TRAINING for teams.  The company has gazillions of contacts from past clients, which gives us a very high chance of an in.  We met yesterday and here’s the first sentence from a note we just received:

            “Great seeing you and Lindsay today and we are looking forward to working with you both in the future. We are happy with the revised offer so I think we can start to get the ball rolling.”

AND THAT’S WHAT WE’RE LOOKING FOR.  Just those one or two companies who will try it, run it, spread it, repeat it….   This is fantastic! I’m on the train back from London right now – along with my mini bottle of prosecco and salt and vinegar crisps – lovely – musing that even though this blog is humbly entitled ‘General Update’ – maybe we have cracked it!  Maybe that email is the break that will finally get the ball rolling. We have agreement on commercial terms and everything is good to go.  Maybe we’ve silently sailed into a new sea.

I also met with a guy yesterday who works a lot with start-ups and Private Equity companies.  It was all a bit speculative – the appointment time changed 3 times during the course of the day, so I’ve been scrambling a lot.  But he likes the product.

He gets that teams in post-M&A environments could use it and explained to me that Private Equity companies buy businesses, turn them around in 3 years and sell them.  They need great team integration.  This could be a way in to that market because I hear that once M&A contracts are signed, there’s very often no budget to run team optimisation exercises.  Seems crazy – seeing as presumably, those involved would want to ensure the M&A works,  but apparently not.   Back to that cut-throat, selfish culture I described: people want to make their cash and don’t give a shit about the bigger picture. No wonder the banking crash in 2008 happened.

Anyway – this guy is super-well connected and so I won’t get too hopeful but it does look good.  There are individual angels out there who fly down occasionally and help when it’s needed 😊

I have several other companies interested / proposals in hand so it feels good. Meantime I plan to train 5 – 10 of my potential delivery partners in June and July up so they can feel comfortable delivering or talking about Mirror Mirror.

The reporting tool is coming on well.  I’m going to be so pleased when we’re happy and fluent with that – should be finished around June or July.

Looks like we’ll be raring to go in August / September.  Lots of reasons to keep the faith!

And I’m still focused on getting the nuances right:

Before: ‘get Mirror Mirror established as an agile intervention’

After: Get Mirror Mirror established alongside agile interventions – subtle but crucial difference

Before: lots of potential markets – scattergun approach

After: M&A as THE area to focus on proactively and find a way in, via

  • internal buyers
  • acquisition support consultancies
  • private equity companies

And another realisation.  I have some money in the bank.  Now is the time to use that to grow the business!  I decided to spend it on a few hours of professional market research (via Upwork) so that I can fast track to talk to the right people in my target M&A market.  Right?! No point in wasting time and having 250 Euro sitting in the bank when it could be working for me.

TODAY – email from the BIG potential client:

Hi all,

 Apologies for not being in contact recently.

 This is due to workload – we have had a number of organizations through our pre-qualification tendering process and we are now in the process of having our strategy, tendering process and other internal alignment signed off.

 We go out for full tender on 12th.  Ot is hard to get a minute sometimes.

 The good news is that the need for the work with you has be reaffirmed each time we meet internally and with the supply chain.

 Hopefully I will be able to get back to you properly in a few weeks.

 My apologies again.

Wow. What a rollercoaster. I’m so grateful! It’s been nearly 3 years and I feel like we’re out of getting this off the ground and now in a new phase – stablise and scale up.

Mirror MirrorWe identify and close alignment gaps between people in organizations to improve engagement and performance.

Your story, our platform: If you’ve got a story and would like to share it with other Femflectors, please let us know. Femflection is all about transferring learnings to help others, be they big or subtle. We want to connect with your feelings, your learnings, your reflections or your hopes for the future – in blog or interview format. Express yourself here. Get in touch with us via anja.uitdehaag@femflection.com

For more content visit our website http://www.femflection.com

Lindsay’s In Business: PART 69: Crucial subtletiesDEFINITELY GOING AHEAD!!

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What happens when you realise your path is entrepreneurship rather than employment? Lindsay takes up the challenge and shares an account of her journey as it unfolds…

HEADLINE– We have confirmation that the multi-team contract to support a merger with our oil and gas client – IS DEFINITELY GOING AHEAD!!  Just 4 days after hearing that, I’m already in a new normal 🙂  Of course I’m very happy – and now I’m looking ahead again.

Remember me writing about my target market areas and investigating which would be the best to focus on? I had 6 areas that I was looking at based on the thinking that Mirror Mirror is best for

  1. a) teams in complex situations, where misalignment is rife, and / or
  2. b) in companies where the value of employee alignment is very high.

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