Boost1 – Business Boutique with Christy Wright

For a boost, Rachel brings on fellow business powerhouse Christy Wright to talk about the top tips to get to a successful peak in business.  These applicable tips combined with a business boost tool, Business Boutique, will help you get your business moving on the right plan.

 https://rachelbrenke.com/boost1

Featured Guest & Resource

Both entertaining and inspiring, Christy Wright presents messages that educate and give hope to audiences nationwide.

 

As the creator of Business Boutique and through her podcast and sellout live events, Wright has equipped thousands of women to successfully run and grow a business so they can make money doing what they love. Wright is a Certified Business Coach and Ramsey Personality.

 

Since joining Ramsey Solutions in 2009, she has spoken to audiences across the country at women’s conferences, national business conferences and Fortune 500 companies. Her new book, Business Boutique, released April 2017.

You can see all of Christy’s amazing resources at http://christywright.com/ 

See Christy’s Book here

Rachel Brenke:Rachel Brenke here from the Business Bites Podcast. I have something really special for you guys today. It’s a little bit of a departure from the usual 10-15 minute bite that you guys get. I wanted to start a series called Business Boost, where I highlight some of my favorite resources and tools that are available to help you guys with your business.

 

It’s funny. I’m getting ready to talk a little bit to Christy. She has a new book coming out, and I almost feel like, reading her introduction and biology, she’s my sister from another mister. We have the exact same mission in life. We just want everyone to know that you can grab ahold and do business. Her book and the information that we just wanted to boost to you guys today hopefully will help you move forward a little bit in your business. Christy, thanks for coming.

 

Christy Wright:Absolutely. Thanks so much for taking some time with me today.

 

Rachel Brenke:Of course. Before we jump into, really, the bulk of everything, I just want to get to know you a little bit. Where are you from, and how did you get to be so awesome? Guys, she’s on the home page of daveramsey.com right now. How incredible is that?

 

Christy Wright:It’s been a crazy journey, but I think some of the best stories are those that have twists and turns that you didn’t see coming. That’s certainly true for me. For my entire childhood I was raised by a woman that started a little bakery to raise and support me as a single mom, and my mom and I were kind of in the business together. Then, as I got older, I realized, “You know, I have that entrepreneurial spirit. I have that kind of in my DNA,” and so I pursued a degree in business in college, and went on to start a couple of side businesses in addition to my full-time job, and even became a certified business coach. So, the combination of all these different things kind of matched up perfectly with where I am now, working for Dave.

 

I was a speaker for many years before I became an official Ramsey personality, and we really just want to help this market. We want to help women make money doing what they love, whether those are the dreamers that don’t even have an idea all the way through women that are running successful small business. I think my background, combined with Dave’s passion with small business … We just want to go out there and help these women do what they need to do to win.

 

Rachel Brenke:I told you guys that she was very similar to me. That’s a lot of what we talk about on the Business Bites. I cater primarily to women. As a mom myself, I really feel like I speak even more to them, to know that this is doable. I feel like no matter what industry you’re in, what lifestyle you came from, what privileges or lack of privileges, it really comes down to making the plan and getting to where you want to go, which sounds so cliché, but I can’t even impress how much that mindset really, really can drive you to get to your success.

 

Christy Wright:Absolutely.

 

Rachel Brenke:I guess my next question for you is, what are some top tips that you have for someone who’s trying to make the jump from 9 to 5 to entrepreneurship? In my audience I have a lot of these moms, or just women in general, and they come from one or two camps. They’re either the 9 to 5 and wanting to quit, which we’re going to address, or the other one of they knew they always wanted to be a small business entrepreneur and they’ve always done it that way. Let’s address first the 9 to 5 job.

 

Christy Wright:Sure. Well, if you’re interested in building up a business, and you’re currently working 9 to 5, then I just encourage people to make sure that you building up your side business and you’re getting that to a good point before you ever make that jump, because people ask me often, “When is it time to make the jump?” I really don’t want it to be a jump. I want it to be a step. The best way to do that is to build up your side business, where the revenue is there; the personal income is there; the demand is there. Then it’s not a jump. It’s the next logical step, and it doesn’t feel so risky.

 

If you’re not careful, if you just quit your day job, and you have that Jerry Maguire money, and you’re like, “I’m out of here. Show me the money,” then your business becomes a burden, and it should be a blessing. So, I just encourage people, “You may have a crazy season, where you’re building up that business on the side, but that’s going to be a season where you’re building it up and building it up. You feel like you’re working two full-time jobs, because you are; but, then, when you’re ready to take that step, it’s not a terrifying leap. It’s the next logical step to do your passion full time.

 

Rachel Brenke:From a financial standpoint, obviously we’re both Dave Ramsey fans, and I’ve talked about Dave Ramsey in length. I have an episode on the Business Bites that goes into budget areas, and I touch a little bit on building a debt-free business. Even although a majority of what he teaches is for personal stuff, I have used it in my business. I used it so that, when I came out of law school, that I was able to 100% be on my own. I didn’t have to go work for somebody else. So, I kind of had other luxury, but I call it a ‘luxury,’ because I worked for that luxury, but I was able to institute a few little steps. Just like you said, there’s not so much of a risk. It’s not a jump; it’s a step, and it’s a logical step.

 

I think this is especially important for those who have families that are dependent upon them or to someone that’s in a life circumstance that you may have maybe a lot of student loan debt and you’re just trying to make ends meet. I’m very conservative in my legal recommendations, my financial, and as well as this 9-to-5 step as well.

 

Christy Wright:Absolutely. Well, one of the biggest myths I see, especially around small business finances is there’s this idea that small business loans or business debt is somehow good debt, or it’s somehow different than personal debt. It’s like, “Oh, well, that’s not my debt. It’s the business’ debt.” No. You know what? That’s your debt, because at the end of the day someone has to pay those bills and that someone is you. Business debt or personal debt, it’s all risk, and it’s all a bad idea.

 

We definitely recommend that you can start your business on the side. You can start small. You can grow slow. Then, when you do, when you grow slow and you reinvest cash back into the business as you’re able, then what’s so great is you keep all of the control, and you keep all of the power, and you keep all of the money as you go. You’re not owing along the way.

 

Rachel Brenke:I also feel like it reduces stress.

 

Christy Wright:Absolutely.

 

Rachel Brenke:Business ownership is very stressful, anyways. I mean, you’re wearing a million hats. There’s a lot of pressure on you. It can start to affect your relationships in your life, just the stress and the burden. For me, my recommendations are to be conservative, to take steps that are logical, one after the other, because really, at the end of the day, if that stress is going to be so big that I’ve brought upon myself … If it’s going to be so big that it negatively impacts my personal relationships, there’s really no point in me … Honestly, this is me personally. I believe there’s no point in me being a small business entrepreneur if I’m not going to have anybody to share it with at the end of the day.

 

Christy Wright:Right, and it just sucks the fun out of it. You got into business probably because you wanted to do something that you love. When it sucks the fun out of it, then the very reason you got into business is gone. So, just keep that completely under your control. I love your advice of being very intentional. You manage your cash, you control the options, and then you’re going to be a lot happier at the end of the day.

 

Rachel Brenke:For sure. A lot of us as small business owners are Type A, so I think that is a double-edged sword in the sense that we want the control, but then we can’t get out of our own way sometimes. It’s definitely good to surround yourself with like-minded people that are also willing to be like, “Hey, you need to get out of your own way, back up for a bit, and just take it a step at a time.” I know I have.

 

Some of my team members are like that. That’s one reason that I was attracted to them in the first place. They were willing to be a part of the culture that I built. They were willing to go hard for me, but also to be able to have an open door, and they had no problem walking through that door and telling me, “Hey, you know, this is affecting you, it’s affecting us, and it’s not good for everyone.” I think it’s really important to develop that culture.

 

Christy Wright:Absolutely.

 

Rachel Brenke:Shifting just real quick, what are some tips just you have for someone that may already be in this entrepreneurship? I mean, I’m sure there’s a lot of people that are listening that already feel stagnant, or they’re drowning, and they just don’t know how to get to that next step. They’re hearing us say, “Take step, step, step,” but they are just so overwhelmed they don’t know where to go.

 

Christy Wright:Sure. I would say the first thing you need to think about is, remember why you’re doing it. In fact, that’s one of the first chapters in my book, Business Boutique. It’s one of the first steps in the plan that I teach women at our events. Most business plans that you’ll develop or find online don’t have this element. They don’t ask you to think through your ‘why’; but, in my opinion, why you do it is one of the most important aspects of building a business, because why you do it affects how you do it. I love how Simon Sinek says … He says, “People don’t buy want you do. They buy why you do it.”

 

So, you better know why you do it. It has so many different important implications in your business. If you’re feeling stuck and you’re feeling stagnant, I would just encourage you to kind of get above the business, get out of the weeds, and think about why you’re doing it. What is your purpose? Why does this business matter to you? When you refocus on your ‘why,’ a lot of times that’s just the extra push you need to get refocused and keep going.

 

One of the other things that’s important to keep in mind is, everything you’re doing in business, especially further down the line, is probably not important. It may be urgent, but it may not be important. As you scale and grow … I love how you said you have team members … you’re going to need to surround yourself with help and resources. Whether that’s team members or you’re going to need to automate things, there’s going to be a way for you to take some stuff off your plate, because as you scale and grow, you can’t continue to do everything.

 

So many business owners get stuck in the weeds. They’re putting out fires every single day, and they can’t ever get above the business to work on it, because they’re just trying to survive in it. So, I remind people again and again, “What are the things that only you can do? What are the things that are actually important for you to do, not just urgent [crosstalk 00:10:08]?

 

Rachel Brenke:Somebody said to me once, “You can’t be the queen bee and the worker bee at the same time.”

 

Christy Wright:Good.

 

Rachel Brenke:In order to be in that CEO mentality, which is very difficult when you’re a sole entrepreneur building it from the bottom up, and it’s very easy to confuse busyness with business.

 

Christy Wright:Right. Oh, absolutely.

 

Rachel Brenke:I fall into this all the time. I didn’t start out the gate with a team. I’ve had to build one over the last decade or so. Some days I’ll feel like I’ll have a lighter load than others, and I’ll go, “Man, I feel like I’m not doing anything. I need to go start fixing something on the website.” I have to stop myself and go, “No, there’s probably more important things you need to do. That just feels busy, so you feel like you need to do it.” So, I tell myself, “Queen bee, not worker bee.”

 

Christy Wright:Sounds good. That’s a good example.

 

Rachel Brenke:One thing I do kind of like to visualize for the audience: When you guys are feeling like you’re drowning … They know that I’m a competitive triathlete. I do open-water swimming. I don’t like swimming in anything I can’t see the bottom of. I have seen too many episodes of Criminal Minds. I’ve seen Jaws, and it freaks me out.

 

Even though I’ve been a swimmer my whole life, when I’ll get into the middle of a race, all of a sudden I start freaking out, and the one thing that centers me is to lift my head and look and see where the shore … Where am I going? What is my endpoint? How many people are between me and there? Then I make it a game. “Okay. I’m going to get past that next first swim cap and then the next one and then the next one.” Before I know it, I’m done.

 

I visualize business the same way. If you’re drowning, quit looking so much and concentrating on how you can’t breathe or you can’t do things. Focus on, “All right, what can I do to get to that first next point and then the next?” by keeping your eyes vigilant and your head up to where the end shore is going to be.

 

Christy Wright:Now, the real question is, what do you do when people are grabbing your butt and your legs and pushing your head under? I’ve done triathlon, too, and you know they do that.

 

Rachel Brenke:That’s when you start throwing elbows. No, I’m kidding. I’m kidding, but that’s one of the things. That’s a strategic decision. If I see an entire group of people ahead of me, I have to decide, “Is it worth my energy and strength to go through that group, or do I need to take and add a little yardage and go around them?” In business I make these kind of decisions all the time, and sometimes there’s a big payoff when you’re in the middle of a pack. Other times you just exhaust yourself and you regret it later.

 

I know in the beginning of my business … You know my story. My husband was deployed. I had kids. I was going to school. I was also working full-time. It was like something you said earlier. It was, “You just need to know what are the tasks that you need to do.” You’re going to learn a more efficient way, even in those moments where you feel like you’re drowning.

 

I think there’s beauty and growth in those moments, so don’t stress out. Just look for the shore, but realize you’re going to learn a lot of lessons during that time. If you feel like you’re not, talk to someone else that’s objective and can kind of point out your strengths and weaknesses and help guide you around the packs, where you can finish the race. That’s the only way I can visualize to explain to people when they feel like they’re drowning, they feel like they’re under water. The good thing is, there is a lot of tools and resources, which is why I brought Christy on.

 

I, of course, want to wrap up this episode talking a little bit about her book, Business Boutique. I’m super-excited. Do you want to tell them a little bit more about it?

 

Christy Wright:Sure. Absolutely. We’ve been doing events all over the country for the last couple of years to help women start their business or grow their business to the next level, and it was really just time for a book. It’s based on years of research and certainly years of experience coaching others and my years in business myself. It really is a step-by-step plan to give women what they need to start, run, or grow a business, and so cover-to-cover it’s designed like a plan. At the end of every chapter we have action items, where you actually fill it out. As you fill it out, you are building your business plan.

 

I really want it to be a resource that sits on their desk, and it’s something you can refer back to based on what topic you need help with and as your business changes and evolves. I definitely don’t want it to be something you read, and put on the shelf, and forget about. I hope it’s a guide. I hope it’s a resource for them every step of the journey.

 

Rachel Brenke:My recommendation with that is to write in pencil so that you can erase and amend it-

 

Christy Wright:Yes.

 

Rachel Brenke:… because your business plan can be an ever-changing, and breathing, living document.

 

Christy Wright:Absolutely.

 

Rachel Brenke:How funny. Well, let’s wrap up and let them know where you can get your book. Then I will send you along your way, because you’ve got lots of other fun stuff going on.

 

Christy Wright:Oh, sure thing. It’s christywright.com or businessboutique.com. Of course, you can also buy the book at many of the major retailers where books are sold.

 

Rachel Brenke:Fabulous. Well, Christy, thank you for coming on today for this episode of Business Boost. I am going to link all of the information … That includes Christy’s bio, head shot, if you want to put a face to the voice. You guys can check that out. Let me know in the comments. If you have any feedback for Christy, or if you just wanted to let me know anything else that you would like to see in future episodes. Have a good one.