Building confidence in entrepreneurs
DENISHA McKNIGHT | 1/9/2017, 9:05 a.m.
The Dallas Examiner
Aside from the usual business planning and content creating, most businesses would not be here today if entrepreneurs were without one significant quality – confidence.
There are so many great potential businesses that are stuck in an idea phase because people are scared to encounter the failures that normally come with owning a business.
The spokesperson for this everyday struggle would be MoneyMovers International CEO Allyson Byrd. Her life has been an inspirational rags-to-riches story in which she turned her failures into a money-making success.
During Be the Answer, an entrepreneurial event for woman, the self-proclaimed profit accelerator and best-selling author coached audience members on how to create an effective money blueprint and become more confident despite their flaws.
“I want to change your association with what you perceive failure to be,” she said.
Byrd started her presentation with an introduction about her upbringing and the obstacles she faced.
At the age of 15, she was a high school dropout who was unclear about what her future held. Afterward, she experienced many failures within her career that left her feeling unsure about herself around others and led to her being fired from certain jobs and living off government assistance.
“Some of you haven’t yet embarked on your deepest sense of breakthrough because your confidence factor is in deficit,” Byrd said as she related the audience’s struggle to her own.
In 2009, the CEO decided to change her narrative and overcome these odds by working with other business owners to increase their revenue numbers with a profit strategy she created based on her situations. She said she wasn’t able to obtain this drive without discovering her passion and learning to become comfortable with herself.
“When your inhibitions hold you hostage, we can’t train that,” Byrd expressed to the audience. “That’s an inside job.”
In 17 months, she was able to go from having a $40 account deficit to having $480,000 in the bank. However, her net profit was $117,000 in the negative, which landed her back at square one.
While the net profit scare bothered her, it didn’t stop her from trying again. After re-assessing her business strategy and trying new ways to sustain her profit, Byrd was able to create a model that helped clients counter net profits.
“You don’t always win when you bet,” she said. “Feedback is the breakfast of champions.”
After sharing her story, Byrd showed attendees how to create money blueprints for their business in 2017. She said all entrepreneurs need a model, a message, a movement and a methodology in order to accrue revenue. If you don’t have a plan and a message to give to others, you won’t have supporters to back you up or a method to follow in order to get the money you want and deserve.
Audience members wrote down their gross income goal for the following year and multiplied the figure by 10 and again by 25 percent. The purpose of this was to ensure that they don’t dream too big or aim too low with their 2017 profit goals and create realistic figures, Byrd said.
After their goals were set, she told the audience to effectively put their ideal gross into action by setting up what products they have coming up next year, their price and percentage of sales. She said this will help them see what exactly needs to happen in order for them to gain profit.
Before the event came to a close, Byrd stressed to the audience that they should always strive to turn their failures into income and not be ashamed of the emotions they’ll feel during their journey.
“You are starving the world and yourself of being you,” she said. “It doesn’t mean you’re weak because you are unsure, and it doesn’t mean you’re unnecessary because you are exhausted.”