Category Archive Business

Frida Owinga ByFrida Owinga

Confessions of a Broke Business Breakthrough Coach

 The other day I was invited for an interview at NTV AM Live, one of the leading media channels in East Africa, and  The Interviewer, Ken Mijungu remarked, you sound like you have this money thing down, Frida and I laughed because I remembered how I have been on a journey to ensure my company makes a profit for a couple of years now!You see, for a long time, we made money from corporate training which was great but a little like having a business and side hustle. We had a few contracts that were sufficient to meet our obligations. The money was great but my purpose and passion is supporting people to create a life and work they love by turning their passion into profit. The problem was the people I served were not always able to pay or so I thought. During the last couple of years, I have been on a path to discover why small businesses are often cash strapped including myself.

It has been a time of discovery, prayer and learning. I stepped back to really find out what was going on and I discovered we were cash strapped because of:

  1. Inconsistent lead generation. We relied on referrals which were inconsistent and unpredictable. Lack of inconsistent leads means lack of paying clients and eventually cash constraints. Nothing happens until a sale is made and no sales means no cash.
  2. Inadequate conversions. For a long time subscribed to the philosophy that new clients come from word of mouth and referrals. And indeed they do, however, you never know when the next word of mouth or referral will come and eventually turn into a paying client. So I discovered, referrals are great but are unpredictable and can not generate adequate cash flow.
  3. Inadequate Transactions. Transactions from individuals who wanted to turn their passion into profit were not adequate to generate the cash flow required, hence the side hustle of corporate training. I was spending more time figuring out a paying model from doing what I love and enjoy then actually doing it. I remember telling God, if my passion can’t turn into profit then we need to change the name of my company and move. I remember asking God for wisdom and reminding Him of Isa 48:17 which says He will lead me in the way to go and teach me how to profit! The rest is history…..but before the history, here are two more reasons why we were cash strapped!
  4. Poor Pricing. For a long time it has been difficult to peg a suitable price for our services. When we did events, the price people were willing to pay could barely pay for the event. When we did classes, there were cheaper classes than us with very similar content. So I invested in a sales coach and a marketing coach! And that is when the light bulb went on. Sales is totally separate from marketing and how you market affects the sales you will get. I realized we have been selling all these years with little or no marketing. In marketing I discovered, we had no market dominating position. Hence the discounting nightmare.Now we have 4 pricing strategies that ensure we are competitive and profitable.
  5. Inappropriate Business Model. Our business model was not sustainable because it had many pieces that required cash and the target audience was not able to afford the final product. Defining our market dominating position was the game changer! Many business owners do not have a focus and as a result make little or no profit. And the way they fix it is starting another business. I am glad, God stopped me on my track.

And this is how the 5 Step Profit Formula (5SPF) came about. it is designed to activate our profit and yours. Join the Founders Conversation on December 21st, 2018 for an opportunity to discover how you too can ACTIVATE YOUR PROFIT IN 2019. You will listen to some case studies and make an informed decision to activate your 2019 profit. You also get a chance to see how the 5SPF works. I still have a few Barclays Bank scholarship for 3 months to help you ACTIVATE YOUR PROFIT in 2019 and Beyond and it might just be your lucky day!

Join the conversation on Friday 21st December at Barclays Bank Premier Center and Activate your 2019 Profit!

EVENT IS FREE BUT REGISTRATION IS REQUIRED VIA THIS LINK.

Join me and let us ACTIVATE 2019 PROFIT NOW!

Frida Owinga ByFrida Owinga

How Bad do you want It?

How bad do you want it?  

IT could be more clients, more cash, more profits,  a new car, a new house any aspiration you desire to achieve in the future but seems distant and difficult to reach …we all have something we want to achieve BADLY, and there is nothing wrong with that. Human beings are created WANTERS. We are created to desire more, aspire for more and that is why the good book says the path of the just is like a shining light that shines brighter and brighter…..so you were created to aspire for more, for better, for greater and when you do, count yourself NORMAL!

The problem is sometimes we squelch that desire for WANTING MORE because we have been conditioned to think if you want more you are greedy and you are bad person. So lets straighten that out right now, what do you want more of and why? There is nothing wrong with desiring to achieve more especially if it is for your benefit and that of others. So go ahead, aspire for more and achieve more so that we can change the world together.

Founder Mary (not her real name) recently visited our offices with a desire to make money consistently and profit for her 7 year old corporate training business. She loves and enjoys training but her problem was corporate training generates good revenue but the requests are inconsistent and the clients take 90-120 days to pay causing cash flow constraints. In short she was experiencing feast and famine and wanted to thrive. She took a Profit Accelerator Assessment and scored below 3 out of 10 meaning her marketing strategy was inconsistent with her profit projections. Using our Conversion Equation Evaluator we used a combination of 3 out of 8 marketing interventions from our Profit Accelerator toolkit and designed an online training for her to give her additional income. From that one intervention in two weeks Mary got 421 clients each paying 2k and has sold the same online training program 2 more times to live audiences and continue to enjoy PROFIT!!. Did I tell you Mary had never gotten more than 35 clients paying 2-3k before from her open programs? This is just one example of how the Profit Accelerator Mentorship can help any business to kick start their profits no matter how long they have been in running their business. The only requirement is A DESIRE TO GENERATE MORE INCOME TO GROW YOUR BUSINESS. With the Profit Accelerator Assessment you are able to see what is not working in your business and get a prescription of what you need to do to generate cash flow and start enjoying profits!

Join the Founders Conversation this month and discover how the Profit Accelerator can help your business generate cash flow and increase your profits in 2019 and Beyond!

WHEN: December 13th, 2018 at 8:30am-10:00am

WHERE: Barclays Bank Premier Center, Westlands Office Park, 1st Floor, Baobab House, Next To Safaricom on Wayaki Way.

ENTRY IS ABSOLUTELY FREE AND REGISTRATION IS REQUIRED. CLICK HERE & RESERVE YOUR SEAT AS SPACE IS LIMITED. IF YOU ARE OUTSIDE NAIROBI REGISTER USING THIS LINK TO ACCESS VIA VIDEO CONFERENCE.

Here’s to More Customers & More Profits in 2019 & Beyond!

Frida Owinga ByFrida Owinga

Welcome to September!

When growing up there was a song…. “do you remember…. 21st of September”  …. ok it depends when you grew up.  And by the way that 21st is what I heard, not sure if it is what they sang!

It doesn’t matter where I am in the world or what is going on around me, every time we get to September, I set an intention to have a memorable month. Actually I set an intention for every month.  It helps me set a focus for the organization, our communities and my life. So what needs to happen for you to make September 2018  a memorable month?

Here at PassionProfit we have been working hard to leverage technology to reach more people at the same time in less time and we are set for a memorable month as we serve you and others across the globe to create a life and work that you absolutely love and enjoy.

Technology is a non negotiable for any Founder who wants to enjoy his or her business as well as life. Founders can now join us online at 8:30am  every Thursday at Founders Day for insights and strategies to create a life and work they love and enjoy from anywhere in the world.  I too can join in from anywhere in the world saving us on traveling costs, considering how traffic can be in Kenya.  It also saves you time because you can log in from anywhere, it is free for you as there is no meeting fees.  Just a small investment to have wi-fi on your device and you can sit in a restaurant for an hour and plug on your earphones and join in.

How will September be memorable for you? Please share and do not forget to join us at Founders Day, sign up here.  This month its all about Money Making Dynamics, join in and discover what could be sabotaging your financial dreams and what you need for financial success!

To a Memorable September

Frida Owinga

 

Frida Owinga ByFrida Owinga

Why you need Partnerships

Being a Founder has its share of challenges and celebrations and you have no business walking alone, that is why we started Founders Day, a day where you can join a conversation with other Founders for insights and strategies to create the life and work you absolutely enjoy!

Listen in to Founders Day –  August 30th, 2018 for 10 REASONS WHY YOU NEED PARTNERSHIPS. (NB: This is a full recording of Founders Day Live at our office, be patient with us as we straighten the kinks!)

A partner is a friend, family member, colleague or peer who is willing to support your dream no strings attached.  O yeah there is that partner investor type person, but as a Founder we invite you to open your mind and think out of the box and enjoy creating a life and work you enjoy.  When we talk about WORK at PassionProfit it is whatever you do to generate an income to fund the lifestyle you enjoy.

Have fun and remember to join us on Thursdays at 8:30am-9:30am EAT from the comfort of your device! EVENT IS FREE AND YOU CAN REGISTER HERE

 

 

Frida Owinga ByFrida Owinga

Profitable Partnerships

We are privileged to partner with Barclays Bank Business Club to provide mentoring and coaching services to their members. How timely that it came in our month of Profitable Partnerships.

As a Founder walking with others is not an option if you desire MEGA success.  Walking with the “right” others can catapult you into your dreams and desires faster and more comfortably.

A partner is someone or an institution that shares your values and complements your mission.  Partnerships are very much like marriages where one  articulates what they are looking for to support their success and aligns with another who has complementing qualities.

As an organization that seeks to provide access to capital to its community, we partner with financial institutions that are able to complete that piece of the puzzle on our behalf and we are able to provide capacity building for their communities and thus profitable partnerships are formed.

To be a profitable partner, you need to articulate your vision, values and mission so that you can find people and institutions that complement yours. Manage your expectations by expressing what you want and ask questions instead of making assumptions.  Consistent communication is critical for the success of any partnership.

Willingness to adapt and adjust as the two partners get to know each other and experience working together is also crucial.  Both parties should be willing to make it work for the partnership to work.  No part should bully another because of resources or size as each party is important in the success of the entire partnership and delivery of services.

Perfect partners do not exist, perfect conditions exist for a limited time in which partnerships express themselves best. — Wayne Rooney

Frida Owinga ByFrida Owinga

Is your Networking Yielding Results?

Happy Monday!

When I speak on networking, one question I am always asked is “when will I get results?”

I find it an interesting question because the answer can be determined by various factors controlled by YOU! Here are some…

  1. Why do you network? When you have no target it will be difficult to measure results.
  2. Are you a member of a network group that is aligned with your networking objectives? You have to know the make up of your networking groups. Are they Consumers, Reporters or Investors. This will help you craft your pitch appropriately. (Refer to last week’s Digest for definitions on the 3)
  3. Do you participate consistently at the groups you are a member in? No matter how good your excuse is for missing a meeting, it can never make up for results. Create time to participate and ensure your prioritize your network meetings. It is part of your marketing strategy. You do not show up, do not expect results!
  4. Do you add value to the members in your networking groups? What goes round, comes around. Expecting something for nothing is a sure recipe for failure.
  5. What is your LQ? (Likablity Quotient) As in do you go out of your way to meet the members one on one? Staying in your comfort zone with people like you is a stealer of greatness. Take the initiative to meet every one in your group and you will enjoy amazing results.

Networking is a process and its activities should be part of your daily routine because your actions will determine your results. When you put in 50% effort and 50% excuses, do not expect a 100% results. Networking success is dependent on you!

To your success and for God’s glory!
Frida

Frida Owinga ByFrida Owinga

Is the Elevator Pitch Overrated?

Even though I have not heard of any success stories of elevator pitching, I agree there is no harm in having a succinct message for when an opportunity arises.

In Nairobi, the elevators I get into are normally so crowded, that I can’t even imagine pitching to someone in one. Anyway, there are some key pointers on how to pitch so that it is not only natural but also appealing to the person you are pitching to.

This Saturday at Thrive November Edition, I will be speaking on How to Pitch for Profit. What are the main considerations – the Place, the Person, the Purpose, the Pitch and then the Profit. Join me and the Trailblazers Chapter of Profit Network as we share on this very important topic.

See flier below for details or contact us directly.

You can exhibit your products or services too. Join us for an engaging and enlightening time on Saturday 5th, November 2016 at 9am at the Hotel Intercontinental, Nairobi.

To Your Thriving!

Frida Owinga

thrive november 2016