Highlights from the FeMBA

The strongest takeaway from the FeMBA, for me, was learning how to see my business as art, not just as a transaction or series of transactions but more of a social movement; making connections, inspiring and engaging in conversations and, being intentional in the every day of it. I needed to reconnect with the art or "core" of the business to direct the next iteration and not be afraid of getting messy! I like the idea of going deep inside and then way outside to really experience what the business is and how it impacts. The business has a life that's bigger than mine.

The courage and a sense of community I gained, knowing there are 15 other business people out there pushing the edge and leaning into their fears. This gives me support to continue...even when I'm tired.

The most powerful lesson I gained was a new awareness of my own capabilities. That there are huge opportunities now for those who are brave enough to grab them and make them happen. I can make an enormous impact if I decide to - I just have to do it! In practice this means starting and completing important projects that might seem too daunting, difficult, or likely to face opposition from others. I realise that 'shipping' such projects takes 'emotional labour'. It doesn't matter if the outcome isn't perfect, or even fails the first time, it only matters that I make an educated decision about the right actions and am brave enough to get them done. As result of the FeMBA I have now re-prioritised projects and committed to deliver the most complicated, but hopefully, the most rewarding one.

A business mistake I learned from is to make sure you own all the IP in your business from day one, and that many of the most costly mistakes are made in the early stages of your business. A simple rule of thumb - if anyone is contributing to your business have a written, signed agreement that you own the output.

One of the most important lessons I took away is that Selling is not a bad word! It is a skill you can learn, and "No" is just part of the process. That you're going to have to rack up 100 No's before you get to a Yes, so count them! That I should find a way to learn from each one, because every "No" gets you closer to a yes and helps you refine your pitch. I realized It was essential for me to become the best sales person for my business.

I also realized that almost every breakthrough I've had has come only after moments of deep discouragement. Whether I'm creating a new radio show or a writing a book chapter, just before "shipping" I experience real fear that what I'm doing won't matter or won't communicate. The next day, I usually find a new way of approaching the problem and figure out how to make the work stronger, and then I send it out. It doesn't work to pretend that anxiety doesn't exist or try to push it away - it is an essential, uncomfortable, part of the process of making something new.

The biggest take away for me was answering the questions "what do I want?" and "what's standing in my way of getting it?" They seem like simple questions, but they're not. Over the course of the three days, I broke down the walls around these questions and accessed some very authentic truths; not just about my business, but about my core beliefs and untapped potential. It was a really difficult process but one that probably transformed into the biggest gift. I realized that there are no magical answers when you're running your own business, which is why it is so crucial to get to know your own personal story around "what do I want" and "what's standing in my way."

I also realized that my greatest mistake since launching my business was coming up with excuses that stopped me from doing the work that needed to get done. It's easy to become paralyzed by the unknown, by the fear of being judged, from feeling overwhelmed, unsure, or from taking an uncharted course. The fact is, if we pay attention to this noise in our heads then nothing will ever get done. There is progress in imperfection and inspiration in the exploration. It's our responsibility to keep moving forward, and it's a great motivator to realize this and then do the work to get past it.

I learned so much from the FeMBA program. One of the most powerful insights is that we, as business leaders, need to move past the hope or expectation that we must be "chosen" for something in order to validate our ideas or our business. This mentality has plagued me throughout the journey of bringing my business to life. When I first had the idea for Avana, I began applying for several grants and contests which facilitate growth in the social business sector to seed the business. When I didn't win those first few contests, I worried that I should interpret the losses as the business itself not being worthy -I even briefly considered walking away from the idea. I realized the folly of that mentality - that by thinking we need to be picked by others to succeed, we are effectively saying that we are powerless to control our own success. This lesson gave me clarity that I don't need any one "win" to bring my business to the next level, but rather need to continue to push it forward one idea, one partnership, and one day at a time.

Before attending the program, I felt pretty isolated on my entrepreneurial island and overwhelmed by the massive uncertainty of my day to day endeavors. I now see a wealth of resources available to people like me and many amazing connections to be made with others who are experiencing many of the same struggles as me, and as a result I now feel far more capable of meeting these challenges.

One of the main lessons from the FeMBA program for me was that being generous does not (necessarily) equal giving away things for free. Sharing electronic content in order to further the spread of ideas is smart. And pricing my services accordingly is smart. Not asking for what I deserve with regards to pricing is not so smart. Understanding what I want, and then identifying what will best serve the path to achieving that is the first step. So if what I want is to build a network of individuals who care deeply about what I am doing, then sharing information (i.e. giving them my book for free), and being extremely generous with my thoughts and views through any medium possible makes a lot of sense, so that we can determine if we are aligned and have a foundation of beliefs on which to build our tribe. If my end goal is to BE a best-selling author, then giving away my book may not make sense, for that IS my end-product.

The other piece about pricing that wasn't necessarily a new concept but was confirmed at our session was that you must price according to the world-view that you are trying to appeal to. Understanding who is buying and what story you are telling them (and they are telling themselves) is more important in pricing than probably anything else. Someone who wants a high-end executive coach wants to PAY MORE for a high-end executive coach, because it supports the story that they are getting the best.

I learned that if you are in an interactive business, don't just focus on building your website. Focus on building community offline first. Sometimes the work that goes into building a website or setting up a company can take your focus away from important (but arguably harder) tasks like getting to know your customers and making strategic decisions. It's easy to hide behind product decisions and call them business decisions. Talk to your users all the time, every day. Spend time communicating your vision for the future and see what comes back to you.

Perhaps the biggest takeaway - which was both encouraging and scary - was that as business owners we share many of the same fears. The group was diverse in practically every way: industry, age, geography, and business maturity (from 0-21+ years!); yet the resistance caused by our fears is strikingly similar. Fear of selling. Fear of firing someone. Fear of criticism. Fear of running out of money. Fear of making mistakes that impact others. The resistance is a distraction from productively addressing these fears. We do things we feel comfortable doing (that should be delegated) precisely because they feel comfortable. We make ourselves too busy to "find the time" to make tough decisions. We don't ask for the sale because we're "pretty sure" once we update the features it will be an easier sale. I'm much more aware of the resistance at work every day. I am naming it and attempting to address it in a more direct way, though it is still hard. Having an awareness is half the battle!

My biggest takeaway from the FeMBA was to stop being scared. Prior to the seminar I would constantly worry about "What if" and worst case scenarios that would drive me crazy! Walking away knowing that you need to stop being scared and just ship gave me the mental strength to believe and live that philosophy.

One of the things that I really took away from the program was that it was ok to get rid of "non-believers." I am so passionate about spreading the message and mission of my business, while also making it accessible, that the idea of not catering to everyone is hard. But ultimately, it is so much more powerful to have a smaller band of believers who are totally sold out than a mass who isn't. If they won't miss you, you need to find the people who will or add more/different value to the tribe you already have. It is easy for me to feel isolated because there are very few companies that occupy the exact space we do, but the reality is, there is so much in common and so much to learn from anyone trying to do anything worthwhile. We all face similar fears, hesitations and challenges, although they manifest differently.

One of the many insights the program drove home is the importance and power of just trying something. You never know what's going to work until you try it, and we get so hung up on trying to figure out all of the variables that we delay action (and sometimes never get there). The process of making iterative mistakes is scary, but a great way to get things done, learn from experience, and revise as needed.

The FeMBA was a unique experience. It's unusual to find opportunities in business for truly open, unguarded conversations. Sometimes letting ourselves be vulnerable is the best way to be challenged and to grow - as entrepreneurs, and as people. That kind of vulnerability is terrifying, and part of what was amazing about FeMBA was that a supportive community of entrepreneurs took shape immediately and will continue long after.

A few of the most important lessons I'm taking away from the FeMBA are that being authentic, confident and believing in myself are super important. There's always risk when you're questioning yourself, because it will either show via your authentic self, or you stop being authentic.
I also realized that mastering my fears and self-anxiety to have a deep confidence in myself is the best path forward. Taking action is much more valuable than having a tight-knit solution that never ships, and even those have their own types of risk associated with them.

I've realized from the FeMBA program that far more important than the notebook full of notes I took is the change in mindset that I have. For a long time, I waited for someone to give me the magic recipe that would guide me step by step through the process of starting something. And while the wisdom from the small FeMBA group alone is astounding, I realize that nothing can replace that act of me taking the first step. Now that I'm moving, I feel the power of 15 amazing women behind me helping to push me along.

The most important takeaway for me is the sense of urgency to launch my projects rather than mulling over them for too long. In fact, after the program ended I immediately set to work and launched a project I've stalled on for the past year! I also realize that failure is a key part of success, and that I should take more risks in order to reach my minimum quota of failing at least once every 90 days!

I also realized the importance of not rushing to take in investors. Bootstrap your business as long as you can. As wonderful and supportive as my investors were, business and expectations change completely once money is taken from others.

Just deciding to apply to the FeMBA program marked a shift for me: to see myself as an entrepreneur instead of self-employed with a bunch of employees. The three days shifted my vision enough to show me the art in what I'm doing, which gave me new respect for the way the daily detail work and the inspiration involved in guiding the business support each other. I feel permission to strengthen both, to act as an artist in following my gut and to be rigorous about my business craft as the means of letting the art flourish. This was the overarching lesson that I took away.

I also realize that I didn't bootstrap enough at the beginning, and I didn't hire a bookkeeper soon enough! I didn't acknowledge my own limits soon enough, or tailor my job description to my own strengths. I think I needed to learn some of this as I went along, but some of it I knew from the start and either wanted to believe I'd overcome, or didn't value highly enough to free myself to focus on it.

After I got back from the FeMBA, I felt really emotionally empowered. I had a pretty big "aha" moment about the way I looked at my business and how much I tied it to my ego. I realized that fear of failure was truly keeping me from achieving, and it was hurting my relationship with my business partner. I needed that wake-up call to know that when something goes wrong with my business, it's not because I'm failing. And no matter what happens with partners or investors, a rejection of my business is not a rejection of me.

The other big lesson for me was about speeding up when no one is in front of you. It's easy to go whatever pace you want when you're not trying to catch up with someone, but if you're the leader in your industry, you need to keep that lead and continue to challenge yourself.