Ep. 146 - Ask Me Anything with Ali Marks

She Talks Business

What To Focus On So Your Business Succeeds

Something new is starting for She Talks Business this week, and I'm excited to share it with you. I recently did a season with my niece, Mackenzie, and I had so much fun answering her questions about owning and running a business. So, I called out on Facebook and asked if anyone else would be interested in sitting in the host seat, picking my brain, and asking me anything.

Today's guest, Ali Marks, is the first to volunteer. Let me tell you a little bit about her. She is a vibrant force in Sarasota, Florida's real estate scene.

Ali is a dedicated realtor and a passionate small business owner of Loyd Robbins Co., a boutique brokerage specializing in residential, commercial, and business brokerage. Her work is deeply rooted in a rich tradition of honesty, integrity, dedication, loyalty, and customer service.

Business Results over Vanity Metrics

Social media engagement metrics, including likes, comments, and shares, can be easily inflated. The true measure of success is if your business is actually generating outcomes.

Focusing on vanity metrics like engagement can be misleading. The ultimate goal is growth; the most important indicator is whether your customers find your business through social media channels.

Companies should prioritize real-world outcomes over chasing social media engagement metrics.

Change in Entrepreneurship

"Pivoting" in business is nothing new. As an entrepreneur, you should understand it as a continuous process of growth and adaptation. The key is embracing change and experimentation and constantly seeking new and improved operating methods.

Don't be afraid to let go of things that no longer serve you, even your successful ventures, to avoid stagnation and maintain your creative spark.

Make responsible decisions, though, by considering the financial impact and potential consequences before making any drastic changes. Calculated pivots and calculated risks are critical for long-term success.

Encouragement for Young Entrepreneurs

The foundation of any successful business is generating profit. Your profit is what fuels your personal income, reinvestment, and growth.

The big mistake many entrepreneurs make is overspending, causing them financial stress and the pressure to constantly sell just to make ends meet.

Strategically playing with your numbers can clarify your pricing and financial goals. If you underestimate your costs and pricing solely, that hinders your profitability. Don't be afraid to use aggressive pricing strategies, like tripling your costs, to establish a healthy profit margin so that you have room for negotiation.

When Things Aren't Going How You Expect

You're going to have unexpected challenges as an entrepreneur. When this happens, try to step back and diagnose the situation, analyzing what's causing the issue.

Then, practice gratitude, focusing on the positive aspects and resources you possess. This helps to counter the negative self-talk that can amplify your problems.

Finally, invest in yourself through attending events, connecting with like-minded individuals, and building your professional network. This network is a valuable support system.

The fear of starting a business is universal, regardless of your age.

What’s In This Episode

• Focus on Actual Business Results

• Permission to Pursue Opportunities

• Financial Viability and Pricing for Profit

What To Do Next

Visit lisalarter.com/e146 for all resources from this episode.