Illumin Blog

Some Minor Changes

What would your business look like if you made even minor changes to how you think and do business so that you can grow your business? It's not how much you do in your day, it's what you do in that day that can make or break your business.

Growing your business can be broken down into easy, doable, bite sized activities. It's simply about focusing on what matters. Start by asking yourself...

What Would My Business Look Like If ...

I Had A Plan for Each Day?

Instead of waking up wondering what you had to do that day, how would it feel to wake up energized and empowered because you had clarity and confidence in knowing what the most important tasks for that day were and how they fit into your overall business strategy. By having a plan, uncertainty, procrastination and overwhelm are eliminated enabling you to reach goals faster.

I Had Only Three Hours a Day to Work?

Nothing helps you prioritize better than knowing you have a limited time in which to accomplish tasks. Will cleaning your desk--again--generate revenue or visibility for your business or will developing new products or pitching media do that? As the saying goes, "Time is a related thing. The more you have, the more your tasks expand." The key is not to fill up the time you have, but to maximize it. Chunk out the hours (by tasks) and use a timer to keep you mindful of time spent on those tasks.

My To Do List Consisted of Only 3 Items a Day?

"Not possible!" you say? Look through your To Do list now and cross off everything on that list that will not generate revenue, visibility or credibility for your business. This newsletter, for instance, is aimed at doing all three. Cleaning my house will do none of the that. It's going to have to wait until the weekend.

I Did Two Sales Activities a Day?

These include doing follow-up calls to recent or existing clients to cross or up-sell, sending note cards to past clients to touch base, asking friends or clients for referrals, reaching out to people you've recently met at networking activities, etc. If you figure most of us work 5 days a week for a total of 50 weeks a year (taking out a few weeks for holidays), that means you've made 500 sales pitches in a year. Trying to make 500 sales pitches is daunting, making two per day is doable

I Attended One Networking Event a Week?

Networking is a necessary tool for business growth. Especially in this economy, people are being more judicious in spending their money so they want to feel comfortable with what, or whom, they spend it on. Focus on events where "your people" (colleagues, potential clients & referral partners) congregate. If you attend just 1 networking event a week, 4 a month, that totals 50 a year!* Even doing just two a month means 25 events a year. Be targeted and attend frequently so you become known among those groups. Familiarity makes buying from you much easier.

I Took Even One Big Risk a Week?

Nervous about calling that editor, that new prospect, that uber successful business woman that you want as a mentor, pitching your new product to Oprah or licensing a service? Great! That means you're pushing the envelope, getting out of your comfort zone and growing your business. The more you challenge yourself, the more confident you become in selling yourself and your product or services. Bigger risks = bigger rewards. Playing small? Then why play at all?

I Acted With Discipline Daily?

What if you acted with discipline, daily, on the above recommendations? What if you honored your time, your priorities and your goals and focused only on what mattered--really mattered--so that your business became successful? So that you felt rewarded by your efforts? So that you could enjoy your success, your family and your friends, more?

I've allotted only an hour to writing this newsletter and that time is up. Now, I need to contact a nationwide association to pitch my Personal & Professional Mapping services and reach out to a few potential clients.

Now that you know my three priorities for the day, what are yours?

*Based on 50 work weeks a year.

Your Ideal Customer...in 100 Words.

I wish Mike Michalowicz's book, The Toilet Paper Entrepreneur, was around a few years ago when I started Illumin. It probably would have helped me identify my ideal customer that much quicker.

In Mike's illuminating subchapter, Who's Your Ideal Customer?, he references an exercise that helps business owners identify the ideal customer. By making a simple list of 100 words or phrases that identify your ideal client, you're able to build a business and brand that appeals to that client as well as better focus your resources (time, energy, money).

Tap Into Others to Identify Your Ideal Customer

Despite the fact that I use a similar method with my own clients, I must admit it took me a while to identify my ideal customer. In fact, the "ideal" Illumin customer was pointed out to me by  my own clients and my virtual assistant. Yes,even consultants need consultants and advisors to help us step out of our own way and uncover the hidden gems and opportunities in our business. (In fact, that "ideal customer" revelation is the catalyst to my website redesign slated to be up by end of September. Stay tuned!)

In addition to identifying characteristics like: smart, athletic, traveled, nurturing, adventurous, etc., dig deeper. Identify what "ideal" means to you and your business. This can include such criteria as clients who...

• willingly pay your premium prices
• buy in quantity  
• often refer you
• value your expertise
• get why you're "worth it"

You'll want to delve deeper into each of these criteria to uncover the characteristics of your ideal client. Be sure to capture words that identify clients whom you love to work with and who identify with your values. These qualities should be added to your 100 Word List.

The saying, "Nobody knows your business like you do" isn't necessarily true. It may take a strategic partner, customer, employee or consultant to point out the unique characteristics of your clients. Sometimes you're just too close to them. Whatever you do, take the time to tap into these people to help identify the client who...
 

• gets your value,  
• is willing to pay for it and  
• is a good referral resource 

When they give you their valuable feedback...act on it. Ignoring such valuable information can cost you in sales.

Are Blinders Keeping You From Your Ideal Customer?

Identifying your ideal customer can be harder than you think. It's not uncommon that new, or even existing, business owners misinterpret who their ideal customer is because we often work with blinders on (our own interpretation, myopathy and biases). This can doom a business as we spend invaluable resources pursuing clients who are not the ideal. Realize that, as your business evolves so, too, may your ideal customer.

Has Your Client Changed with the Economy?

This economy is producing many shifts and challenges for business owners. Consider re-evaluating your ideal client profile given our current economy. It may have changed.

A key to helping you do this is to see which of your products and services are selling, and which are not. Who seems to be buying from you now, and who is not? Now, dig deeper into the characteristics of that particular client. Therein lay the keys to your ideal customer.

Don't be afraid to let go of what's not working (this means products, services or even clients who no longer fit the "ideal).

A key to sustainability and growth is the ability to let go and flow with what your respective market is telling you to do.

Confidence is Your Birthright

Remember when you were a kid and thought you could do anything? You knew no boundaries, had no fears and felt you could conquer the world? Self confidence was your birthright and you knew how to use it to get what you wanted.

Then you grew up and that self confidence was eroded by life experiences, perceived or real limitations, negative relationships and, well, life.

The Role of Confidence in Business

When you started your business your self confidence was probably at it's peak or why else would you have started it? But, as you went along and experienced the day-to-day hurdles, your self-confidence began to wane. As the owner of your business, you owe it to yourself to invest in things that keep your self confidence high. No other asset can give you a greater return on investment than unwavering self confidence.

How Do We Get Confidence?

Step Back

First, take the time to step back and look at where you may be lacking self confidence. Understanding the origin of low or diminishing self confidence can help identify the appropriate course of action.

Take Action

It's no secret that taking action regularly keeps you inspired, motivated and feeling like a player. Take action every week, every day if possible, towards your goals.

Push the Envelope

Get out of your comfort zone...often. There is evidence that pushing the envelop (doing something challenging, scary or exciting) actually has a positive hormonal impact on your body.

Stop Comparing

Remember, you were put on this earth to accomplish your purpose, not someone else's. Every time you compare yourself to others, you strip away self confidence.

Set Goals

Set goals that are in service of your Purpose here on earth. Achieving just to achieve can still leave you lacking in self confidence. Set goals that are in honor of your life's Purpose. As you achieve them, your soul will be fed and so, too, your confidence.

Surround Yourself with Achievers

Move away from downers. Nothing zaps your energy, confidence and focus more than being with naysayers or people who accept their unsatisfying or crummy status quo. If you're intimidated, fake the confidence until you start to feel the confidence. Odds are there are other people in the room doing the same thing.

Honor Your Word

Whenever we don't live up to a commitment to ourselves, a loved one, a friend or client, our self-confidence erodes. Staying true to your word reinforces that you work with intention and integrity and that's good for confidence.

Honor Yourself

Above all, honor and respect yourself. Trust your intuition, dress with respect, exercise and take time out to refuel yourself. Be clear on, and respect, your own boundaries and needs so that others respect them.

This reinforces to yourself, and others, that "I'm worth it."

Knowledge Share

As your business' CEO, your role is to grow your business, be the face of your business and develop new products or services.

That means imparting your knowledge to your team so they can handle the day-to-day of your business without you. This is particularly hard as an entrepreneur since your business is "your baby". Remember, parents need to let go of their babies so they can grow. So, too, must you for your business to grow. That means giving your team the information they need to keep your business running smoothly whether or not you are there.

Schedule Knowledge "Download" Meetings

Schedule regular meetings or calls to keep your team informed of any new opportunities, customers changes,  project progress, products, or information that can impact their job or your business. This also means sharing information that is relevant to your industry or your competition. Informed and empowered employees allow the day-to-day of your business to carry on without you. It also makes employees feel like stakeholders in your company's success. And, as Martha Stewart says, "That's a good thing."
 

Create an Information Library

Creating an Information Library is a great way to knowledge share. It optimizes knowledge and assets and eliminates redundancy.

For instance, if you produce client presentations, marketing collateral, website content or processes, consider putting that information in a shared file like Google Docs or on your in-house server. Your employees can pull from these docs when creating new docs rather than starting from scratch which can be a huge waste of time and money.

Information Libraries also help build consistency in your communication and brand. Ideally, create templates that you use company-wide to reinforce that consistency. Again, by using templates that reflect your guidelines as the business leader,  you're sharing your vision and expectations with your team which create cohesion and quality assurance.

Create Processes

Processes allow organizations to flow fluidly and ensure quality control. They also often reveal opportunities to develop ancillary products and services which means more money.

Processes create roadmaps for your team so the guesswork is taken out of how you want--and expect--something to be done. Processes maximize time and ensures consistency within the organization, as well as the customer interface.

Encourage team input on processes as often your staff may have information that can impact the process flow. It's as important for your team to share their knowledge with you and their colleagues as it is for you to share your knowledge with them. Employees often have insight and information that those at the top don't so take the time to listen.

Make a Plan. Set Goals.

Many entrepreneurs "shoot from the hip". They deal with issues as they come up. While that's certainly understandable (especially for young start-ups), it's important to be as clear as possible on your long-term and short-term goals so that your team can align their efforts and assets with those goals.

Setting goals and clarifying the strategies needed to achieve those goals allows for optimal knowledge share. Why? Because when your team is clear about your goals, they can get clear on what is needed to help you achieve those goals. The key is to be clear and specific in your goal setting and to empower your team in helping you achieve those goals.

Create a open platform where you share your knowledge and goals for your business. Then, ask your team how they can help you achieve those goals.

You'll be surprised at the hidden assets, resources and knowledge your team reveals when you give them the opportunity to be a part of your company's success.

Small Business Owners Need to Retire, Too.

The reality is that retirement is becoming less and less realistic for entrepreneurs as well as traditional employees. So, even if you're starting up a new biz, continue to contribute to your retirement plan.

After all, you started your business to do what you wanted, how you wanted, right? Don't you want to do the same in your retirement?

Low Cost Option for Entrepreneurs

SEP-IRAs are a great way to go for entrepreneurs. A SEP (Simplified Employee Pension) plan allows business owners to contribute up to 25% of gross income to their own or their employee's plan and the cost is lower than traditional retirement plans. Shop around for pricing.

If you're wondering if a SEP is right for you, get in touch with a Financial Planner for guidance. Also, a good resource for finding out more about SEPs is the Department of Labor's website.

If you haven't taken the time to figure out how much you'll need for retirement, go online now to any number of free retirement calculators offered by financial services firms. Here are two that you can check out. New Retirement and Northwestern Mutual.  

Profit Sharing for Small Firms with Employees

 
According to 401K Specialist Sharee Tellerman of Plan Perfect, Inc., "Many small firms find Profit Sharing Plans attractive because they offer considerable flexibility and low administration costs. Plan contributions can be discretionary. Based on each year's results, the company can decide how much or how little to contribute to the plan.   
 
Profit Sharing Plans can allow you to make high contributions in good years and low contributions in bad years. Thus, in a profit sharing plan, the minimum contribution is zero.  The maximum contribution is 25% of eligible payroll.

In summary, Profit Sharing Plans offer greater flexibility, increased tax deductible contributions, and asset protection from creditors, compared to their SEP, SIMPLE or SIMPLE 401k counterparts."

TIP:  Owners can make disproportionate contributions to key people by taking Social Security into Account.
In this economy, you may be pressured to delay saving for your retirement, but don't.

Even saving a little each month can make a big difference in the end.

Precious Assets and Costly Mistakes

Most of us will spend a lot of time on such things as website design and content, newsletters or blogging to build our online presence, yet tend to ignore or overlook the critical safeguards that can protect all our hard work, Intellectual Property and business.

Internet and eCommerce attorneys, Natalie Sulimani, Esq. and Deena Burgess, Esq. can help you avoid costly mistakes and help you protect your precious assets.

Setting the Record Straight

Natalie Sulimani of Sulimani Law Firm focuses on eCommerce for small businesses. She sets us straight with myth vs. fact about content on the internet.
 
Myth: putting things on the internet automatically makes it public domain.
 
Myth Buster: IP law is a little bit more complex than that, so no, you're not giving it away, but you're not entirely protected either.
 
Here are the 4 actions you should take to protect yourself, your business, and your profits online:

• Sign a web development agreement with the person or company designing your site.  Make sure, legally, that if you leave your web developer, you are not leaving your website and code behind.
• Copyright your website, newsletter and blog.  It's a small investment (and I mean small) to protect your IP and prevent infringement.
• Trademark your logo and name.  Yes, you might be working with a common law trademark, but do you want to take a pause in your marketing to clear up any legal issues?
• Draft well thought out website policies specific to your business including Terms and Conditions, Privacy Policies, linking agreements and forwarding policies.

It's critical to continually monitor your IP.  There is software available that crawls the web to see if anyone has copied your material - the most basic choice is Google Alerts.  Every morning I get a listing of where my IP is around the web.  If something doesn't look right, call your IP attorney!"

Internet Ignorance Can Cost You

Deena Burgess, Esq. an Internet and IP attorney of the Law Offices of Deena B. Burgess tell us that, "Many companies believe that they can just throw together a website and are ready to go. It's just not that easy. Companies often overlook the variety of laws relating to websites and, in doing so, devalue one of their greatest assets.

Three of the most common mistakes that service oriented businesses make with their websites are:

          1. Collecting personally identifiable information without a privacy policy (or without an adequate privacy policy) - Many
           businesses put a form on their website to collect visitor information so they can send emails, newsletters, offers and other
           communications.  But did you know that, if you have anyone from California visit your website, you're legally required to have a
           privacy policy?  And if you're using a third party advertiser (like Google AdSense) on your site, they too have certain requirements
           that must be included in your privacy policy. 

          Another reason why you care is that if you ever intend to sell your business, your mailing list (particularly in a service business) is
          a HUGE asset.  If you collect personally identifiable information and you don't collect it under a privacy policy, that list is completely
          valueless.  

          2. Failing to adequately protect their trademarks - Although a common law trademark exists from the time you begin using your
          brand name "in commerce", that protection only exists in the narrow geographic location in which you currently use it.  If you want
          to protect your mark nationally, your best bet is to register it with the United States Patent and Trademark Office. Finally, there are
          rights that are available for federally registered trademarks that aren't available to common law marks. Make sure you know what
          they are.

          (For more information on why the heck you'd want to register your trademark, check out Deena's free e-book on the topic at
          http://www.why-the-heck.com.)

          3. Not having adequate disclaimers on their websites - Particularly in businesses that give specific information about financial
          and business results or testimonials from clients, it is vital to have appropriate legal disclaimers talking about that results are not
          typical and that you do not guarantee similar results."

As a business owner, you have only so much bandwidth in terms of time, energy, money or staff to grow your business.
One of the best ways to expand your capabilities, impact and reach is through strategic partners.

Partnerships provide collaboration and leverage while allowing you to optimize your respective assets and resources all with the goal of impacting your bottom line.

Why Partner?

The reasons for partnering are many.

• Increase market share
• Expand geographically
• Build mailing lists
• Enhance quality of service
• Reduce costs
• Break into a new market
• Improve corporate positioning
• Add prestige
• Leverage sweat equity
• Co-marketing
• Co-sponsorship
• Share assets
• Link to one another's sites
• Access to cash or capital

As a small or new business, partnerships give you another added advantage. You have a "partner" with whom you can share ideas and gain feedback for your business without the long-term commitment of a business partner.

Who Makes a Great Partner?

Great strategic partners can come from different industries as well as your own. Consider...

Complimentary businesses: Businesses that can enhance your existing service offer or position you as the "go to" resource for all your clients' needs thus enhancing the customer experience.

Completely different businesses: Think out of the box when looking to penetrate a new geographic area, niche or industry. In this economic climate, the opportunity is ripe for non-traditional partnerships.

Competition: I've never met a competitor who wasn't looking to grow their business, too. Explore how you create a noncompetitive partnership that can leverage one another's assets or resources to achieve your respective goals.

You Have What They Want

One thing I learned fairly early on was don't be afraid to approach the "bigger fish" as a prospective strategic partner.

A larger or more established firm may have market share, brand recognition or distribution power, but as a smaller or newer firm, you may have something they want, such as a new product, service or technology, for example.

The key is to own what you know and know what you own so you can present your positioning and assets confidently when you approach that company.

Protect Your Relationships

Protect your strategic partnership relationships by getting it in writing. It's easy to get caught up in the excitement and possibilities of a new partnership, but when it comes down to sharing responsibilities, expenses or revenue, for example, memory isn't always accurate and interpretation is often subjective.

According to Nina Kaufman, Esq., business attorney and owner of Ask The Business Lawyer, "Strategic partnership agreements are as much about protecting your a** as they are about protecting your assets.  Most relationships come to an end for one reason or another.  It may be uncomfortable, but think about why you might want (or need) the relationship to end.  Is its purpose project-specific -- once the project ends, does the relationship?  Or do you have specific goals, timeframes, or standards of conduct, which, if not met, would mean the relationship loses value?  Don't become so besotted with your new strategic partnership "beau" that you don't carefully evaluate whether the relationship makes good business sense."
 
Be sure, also, to review the partnership on a regular basis to ensure that both parties are still getting what they desire in the relationship and that customers are still getting what they want or need.

A great partnership is worth protecting legally and through open dialogue.

Protect your partnership as it can be one of your most valuable business assets. 

Your brand is your calling card and plays an important role in determining the type of clients you attract, the culture you create and positioning in your industry.

Your brand can precede you through reputation or association and because of this, it is considered one of your most leveragable and valuable assets.

Build a Strong Brand

A powerful brand emerges when you possess a strong understanding of your business's purpose and mission. It should reflect how you see yourself as well as how you want to be seen by others. A strong brand elicits emotion such as relief, happiness, spirituality, control, enlightenment, fun, security, comfort, confidence or a sense of belonging, for instance.

Brand is created through gaining a greater understanding of your Identity and Passion and how you, as the service provider, bring that to your business. Only by uncovering the essence of you as an individual (your internal drivers, motivations, passions) can you create a brand that reflects you and what you authentically represent to others.

Personal exploration is a critical part of foundation building for a business as it helps define your business culture and creates relatedness to your clients. This exploration (which are the first two pillars--Identity and Passion--of the Illumin Mapping process) are the building blocks for creating the personality, or the brand, of your business.

Brand Creates Corporate Identity

While brand is achieved through exploration of Identity and Passion, the 3rd and 4th pillars of Illumin Mapping--Vision and Design--put structure around your brand by creating your business platform (services, targeted niche, etc.). Once your platform is identified, you are well positioned to develop corporate identity that reflects you and appeals to your target audience.

"Your logo, business stationery, website and packaging are all important components in your brand message; they are the vehicle to convey your brand," commented Tonia Misvaer, Director of the visual identity agency 3SL Creative.  "The strongest, most effective visual identities are almost always created from a strong brand architecture.  Without that structure to draw upon, it is like trying to decorate a room before the house is designed.  Having a clear, brand strategy and vision before creating your visual identity not only saves time and money, it is in fact essential to creating an impactful identity."

Above All, Be Your Brand!

Brand dilution comes when there's lack of clarity about who you are, who you are targeting and what you stand for to your clients. It also comes from trying to be too much like the competition and not creating a presence that is unique and different.

A weak brand leaves prospects lukewarm and looking for alternatives. A strong brand may not appeal to everyone, but it will appeal to your ideal customer if you've done the exploratory work.

According to Misvaer, "The easiest way to define a "brand" is to identify what it isn't.  A brand isn't your logo, website, packaging, business card, etc.  A brand is that subjective, gut feeling a consumer or customer gets when thinking about your company.  A good brand is invaluable."

Once you've developed a brand that you feel passionately about, "be" that brand.

By honoring your own brand through consistency, integrity and authenticity, it can prove to be one of your most powerful business assets.  

Leveraging Sex Appeal in Your Business

Sex appeal permeates every aspect of your business. It's conveyed in...

• Your company branding
• Your personal branding
• Your energy
• Your voice
• Your conversations
• Your office or home environment
•  ...and more

Sex appeal is a beautiful combination of energy and sensuality. It is juicy and powerful and it is an asset that can be leveraged in any business regardless of your field or whether you run a multimillion dollar business or are a solopracticioner.

Embrace Your Sex Appeal

Sex appeal is an asset often ignored by women business owners because they feel they won't be taken seriously if they use it in their business.My recommendation is to think again!

Sex appeal can be subtle, elegant, sophisticated, fun, flirtatious, alluring, klutzy, silly, powerful and enticing. It does not have to be overt, raunchy or improper. Sex appeal can come from the tone of your voice, your signature perfume, or how you convey your passion about something you love. From the clothes you wear to the colors you paint your walls!
The goal of using sex appeal in your business is to help clients remember you, your company and your brand so they are inspired and excited about doing business with you.

Sex appeal is another form of energy and energy attracts.The key is to own it and leverage it so that it reinforces who and what you represent to your clients.

Sex Appeal is "Self Appeal"

 
Where does sex appeal come from? In my line of work I find that the more self-accepting a client is, the more she takes ownership of her power and assets, the more she lives her life passionately and in accordance with her desires and dreams, and the more she accepts her self-perceived flaws, the more sex appeal she exudes. Self love and acceptance makes women luminous. And that is sexy.

Sex appeal is "self-appeal," that is, being comfortable in your own skin while accepting the "flaws" that make you exquisitely beautiful.

Mixing Pleasure and Business

Being comfortable in your own skin means honoring your emotional and physical desires and your sensuality. Doing so empowers you.

According to Lori Sutherland, better known as Dame Lori, a pleasure and prosperity coach,
"When a woman embraces and practices self love and has ownership over her sensuality- that embodiment of power communicates a confidence that allows her company and her clients to be nurtured and encouraged through her being--she is a walking celebration of life for she has caused pleasure to prosperously permeate through her body on a cellular level."

Clinical psychologist, Judith Steinhart states, "Of course, sexual self-esteem impacts a woman's work and career. She feels empowered, capable, in charge, prepared, and willing to face the unknown, with confidence.  Yes, sexual self esteem and business effectiveness are related. Sexual self esteem provides the WOW factor"!  

I love Dame Lori's line, "When a woman can say 'I am thrilled to be in the same company as myself!'" you know she's probably got great sex appeal.

That's the kind of woman who attracts others into her life--and into her business. And that's good for the bottom line. 

Energy Inspires

Energy is contagious. Think about it. Don't you just love working with people who have a lot of energy? Isn't it worth your time and money to do business with someone who not only provides a solution to your needs, but does so with enthusiasm, inspiration, joy, excitement and confidence--even if it costs more?

Ensuring that you maintain high levels of energy inspires clients, colleagues, partners and employees. Others derive energy from your energy and this makes for good business.

Optimize Your Energy

Develop energy saving habits and leverage energy saving tools to optimize the "fuel" in your tank. One of the best ways to do this is to start each day with a plan. Eliminating the anxiety, overwhelm and stress that result from beginning each day from scratch depletes your energy reservoir. To do this...

• Be purpose driven: Get clear about where you're going and why. Create a plan. Own it and share it with employees, partners and supporters so they can help you succeed.
• Leverage available resources: This includes your corporate collective knowledge bank, best practices, technology, industry experts and those in your networking groups.  
• Refuel often: Schedule exercise, leisure and downtime into your week to recharge and allow space for creativity and problem solving to flourish. Reward accomplishments often.
• Create routine or rituals: Eliminate chaos. Rewriting each day, reinventing the wheel and always "winging it" is draining. Routine optimizes energy resources.
• Build capacity: Get out of your comfort zone. Set goals that grow capabilities and mental capacity. Go back to school, exercise 15 minutes longer, make a speech--stretch it!  

Energy Thieves

Energy can be easily depleted or turn negative. What can be a powerful asset in your business can also have a negative impact on your business and your bottom line. Energy thieves include...

• Poor eating habits
• Environmental drains
• Not being challenged
• Negative, low achieving or non-supporting people
• Living in chaos

For example, constantly working in a state of chaos or confusion depletes energy. According to Dr. Sharon Melnick, "How business owners 'pour their TEA' (Time, Energy and Attention) into their business can help determine their success." By identifying the biggest time wasters and energy drainers, entrepreneurs free up to several hours a week." These are hours that can be used for promoting their business, networking, refueling, leisure, ideation, capacity building, and more. (Read more at Chaos to Control).

Environmental Energy Flow

Environmental factors are also a cause of energy depletion. Business luminaries like Oprah, Trump and Tiger Woods and industry leaders like Coca-Cola and Proctor & Gamble leverage Feng Shui to harness energy in their businesses.

According to Feng Shui expert Ann Bingley Gallops of Open Spaces Feng Shui,"Your office or workspace is your place of power in relation to the world, where you manifest your purpose and achieve your livelihood. Feng Shui has the ability to detect where "chi", or life force energy, is stuck in your office or business, and identify specific aspects of it that could be working better.  When the channels are opened up that allow chi to flow freely, it enhances your ability to achieve your goals -- and ultimately your bottom line."

Define Your Purpose. Harness Your Energy.

In The Power of Full Engagement, authors Loehr and Schwartz write about clients whose energy has been depleted by external demands and loss of personal purpose. Identifying the purpose of your business, how it aligns with your values and making a plan to fulfill that purpose, not only increases your energy, but expands it.

And, that makes for good business.