Welcome to a new update from Kathy Ennis of Kathy Ennis: Your Brand is You, business mentor and brand consultant. I first interviewed Kathy back in May 2012 and updated her story in July 2013. At that point, this is where she wanted to be in a year’s time (i.e. now):
- “I want to continue the increase in turnover (40%)
- I want to have finished the current book and have the second ‘on the go’
- I want to increase the number of group mentees I work with
- I want to finally get to grips with webinars
- I want more training and speaking engagements
- I want to have a bit more spare time – I really need to get to the gym more often
- I want my clients to grow and develop brilliant businesses”
Hi, Kathy, so, are you where you thought you’d be when you looked forward a year ago?
Yes, and more so. This past year has been really good. Still more development needed (isn’t there always?), but I am really happy with progress over 2013/14.
- Turnover is up by 40% (maybe a bit more but you catch me just before I finalise some end of year figures)
- My book has just been published and I am working on a series of e-books
- Didn’t go down the webinar route but I am doing some training on Google+ and using that as a tool (particularly for video)
- Training bookings were up on the previous year (hurrah!)
- One of my clients owns The fat Girls Guide to Running (www.thefatgirlsguidetorunning.com – official launch was on 14th July) and she is inspiring me to get fit / into running
- I have had the opportunity to work with some wonderful people this past year and I am looking forward to all of the other lovely people I will have the opportunity to assist in gaining secure, repeat, profitable income in the next 12 months.
What has changed and what has stayed the same?
I made two big decisions. Firstly, to move away completely from groups / organising my own training and development courses (I only do these now when booked by external organisations). Secondly, to stop offering ‘by the hour’; now people work with me for either full or half days.
What have you learned? What do you wish you’d known a year ago?
My biggest learning has been really getting to grips with knowing, understanding and working with the numbers in my business. Knowing (and owning) my own value, as well as keeping a firm hold on costs, is having a significant impact on my bottom line.
Any more hints and tips for people?
1. The numbers don’t lie! Many of the business owners I work with blinker themselves to the numbers in their business (I know, because I was one) – but they are so crucial and they don’t lie. You need t know precisely how much it costs to run your business in order to understand how much you need to charge. Simple? Yes. But often ignored
2. Get a mentor who is interested and involved. My business is mentoring / consulting but I still have a mentor who acts as a sounding board as well as source of inspiration, ideas and a spare pair of hands.
And … where do you see yourself and your business in a(nother) year’s time?
Bigger, better, bolder!
Some good points from Kathy there – I’m always amazed when I watch those Dragon’s Den type programmes and people don’t know their own numbers. It’s only sensible to keep your records up to date and keep an eye on the income and outgoings, especially if your business incurs the type of expenses that need to be watched. It’s great that Kathy’s finding time to keep her fitness up, too – I’d add “faster” to her plans for the upcoming year!
If you’ve enjoyed this interview, please see more small business chat, the index to all the interviewees, and information on how you can have your business featured (I have a full roster of interviewees now so am only taking on a very few new ones). If you’re considering setting up a new business or have recently done so, why not take a look at my books, all available now, in print and e-book formats, from a variety of sources.