Business leader showcase
This East Coast gal is stuck on West Coast time, and once dreamed of being called the Honorable Abayomi-Paul. Tinu Abayomi-Paul is the Owner of Leveraged Promotions, established in 1998, and today spends time telling AG readers what her days look like, what keeps her up at night, and things that only people very close to her would know.
We often revere leaders, but often for their current work, without knowing where they came from, but by knowing what makes people tick, we can not only better connect with one another, but we stand to gain by being able to identify with traits shared with various leaders as a means of inspiring our own leadership paths.
Below is an unedited interview with Abayomi-Paul, in her own words:
Tell us about yourself and your work.
There arel all kinds of fancy words and phrases used to describe what I do but it boils down to this: I help businesses get more customers via the web, which includes mobile.
I’ve been doing this since 1998, at first working just with friends’ sites or organizations that weren’t pursuing a profit. At one point I owned the third most popular poetry site in the world, after poetry.com and Def Poetry Jam. It was called Fireseek, then later Urban Poetic. We had a partnership with About.com which included advertising. At the time I had a full time job, and that advertising got me the equivalent of an extra paycheck after I shared it with my partner.
Due to some health concerns and losing my job, I started thinking about how great it would be to help other people do what I did with the poetry site. At first it started out as helping other people get an extra paycheck a month. Then in 2004, I made more in one day than I did in a month at my temp job. The place I was working for went back on a promise to give me time off for my sister’s wedding. I quit and never looked back. I taught myself everything I could about promoting a business via the web – while promoting my business via the web. I tested things, then sold the knowledge or did the same for other companies.
Walk us through a typical day in your life.
My days living in Las Vegas, where I started my business, have spoiled me – my body won’t switch back from West coast time no matter what I do. I typically get up around 9 am East coast time unless I have something pressing to do. I start the day with research – what has happened with Google, social media, marketing, or PR since I went to bed? Have my colleagues written anything that would inspire me to debate or creation?
Then I share what I’ve discovered, do some commenting. Then I write. Articles, blog posts, work on books I’m writing, ghostwriting sometimes. About once a week I incorporate the creation of audio and video content – new habit I’m forming. By this time it’s midday.
At this point I check in with all my teams to make sure all the client projects are going well. Then I double-check my email, text, social media and phone messages to make sure I haven’t missed any fires that need to be put out.
After lunch is when I have the majority of my meetings. I find myself mentally sharper as the day goes on, even though I tend to get physically tired faster if I don’t pace myself.
I try to wrap it up by 6 pm, but I fail about 40% of the time, so my day often ends around 8, much as it pains me to admit.
What did you do before your current career?
I was in IT, mostly Help Desk. My last long-term job was with the MGM Mirage. They have this cool command center wall – you know how in the movies, NASA has this wall full of screens with lots of different information? It was like that. Before I moved to Vegas, I worked on the Help Desk at the IMF. I was working the swing shift with the Mission Travelers. People would go to remote areas where sometimes there was only dial-up access, so we couldn’t connect to a person’s computer like we could if they were in the building. Nor could we have come drop off their computers. So we would have to visualize the problem and give them oral instructions for how to fix things.
It was ideal for me because I have a kind of photographic memory. It’s not like on TV – it’s more like if I’ve seen something recently and enough times, I can remember something I’ve seen like I’m still looking at it. Like I can be in the supermarket, and look at the last time I saw the refrigerator to know if we have something.
What is something unique that you do to balance work and life?
I meditate and read affirmations. It reduces stress and helps me focus. I used to do it daily, and that what when I was most successful with the least effort. Working my way back to that.
What keeps you up at night?
I don’t have payroll, because I hire other companies instead of other people. It’s cleaner until I need permanent people. But making sure I have enough work to keep working with the same teams keeps me up at night. I am also almost at the point where I need a permanent assistant. So I worry about finding room for that in the budget on a consistent basis, someone trainable but who already has the basic skills I need. I was burned once by someone who was a sharp self-starter, but turned out to be untrustworthy.
If you could spend one day in the life of another industry leader, who would it be?
Toni Morrison. She was an editor for a long time, then started writing at 45. She later won a Pulitzer Price and a Nobel Peace Price. At heart, I’m a writer, I think what we read fuels who we are. So I’d love to see how her mind works from the inside.
What tools can you not live without?
I’d throw my phone in a lake if I could. I hate texting, and I want my phone to do less, not more. answer calls consistently and stfu. But my work and my life need to be mobile. Not to mention the fact that I’m addicted to mobile apps.
So I’d have to say my iPad. A very close second would be Jungle Disk – a product by Rackspace that, in conjunction with Amazon s3, gives my company network drives. I also adore LastPass. I kill PC laptops in six months on average, so instead of constantly losing everything, I just save it all to the cloud. I back stuff up to a brick too but with a network drive you don’t have to go through the restore process.
If you could start your current career over, what would you do differently?
I would have skipped directly to owning a company that builds useful or fun software, and focused on creating content for the people who liked the software my company built. I thought I had to be able to code and all that. And I had a serious problem, which I’m currently still getting over, with thinking I had to do everything 1- myself and 2- perfectly. Now i know it’s more important to be timely, and that I can correct as I go. The grammar police and the haters will find something wrong with what you’re doing no matter what.
I’d be making mobile apps and web apps for business now. I still will but it would have been nice to have been doing this from the beginning.
At age 15, what did you want to be when you grew up?
As my mother constantly reminds me, I wanted to get a PhD like my father, and also be a judge. I fantasized about being called the Honorable Dr. Abayomi-Paul. I will likely still get a doctorate, but I eventually realized that my dream was to go to law school, not to be a lawyer. And I decided I’d wait until I could afford to go without getting deeper into school loan debt, and if I still wanted to do it, I would.
Tell us something about you that people wouldn’t believe unless they knew you.
I’m much quieter in person than my long, rambly writing would have you believe. MUCH.
What inspirational quote has stuck with you the longest?
I’m paraphrasing what I was told is Emerson, but I can’t remember what essay this quote is in, nor have I had much luck Googling it.
“Your attitude towards a given situation is more important than the facts that actually prevail.”
I’ve found that to be universally true. Most of think our thoughts and emotions are just electrical impulses that happen to us, that we’re enslaved to them. In life I’ve learned that your thoughts are a choice that you can make conscious, and that we can control a great deal of our emotions. Some of my early close friends think it odd the way I often deal with conflict, because they grew up with me being confrontational, even when the situation didn’t necessarily call for it.
But around college, I began to realize that if my TRUE goal is to resolve a conflict, and not just to win an argument or stress myself, then what’s the point of arguing over stupid things? It’s not like your anger can Do anything. It’s not like worry makes things better. It’s not as if your tears have curative powers. I’m not dead inside or anything – I still have so-called negative emotions. But now, instead of something bothering me for weeks or months, I have learned to shift my focus so it only affects me for minutes or hours.
Most incredibly, it’s what frees up my energy for achieving what I want to in life. Drop as much of your baggage as you can – no one helps you carry it.
Lenders need to see these 3 things to get your LLC off the ground
(ENTREPRENEUR) Securing a small business loan is tedious, but there is a shortlist of requirements you should be aware of before getting info from lenders.
If you are reading this, you probably have an LLC for your small business already, or money talk gets you going. If it is the former, let me say CONGRATULATIONS, and insist you pat yourself on the back in honor of your small business’s progression. Your arrival at a point where expansion is necessary is no small feat given half of small businesses fail in the first year. So, kudos to you.
Now, back to the money talk…
For LLC businesses looking to expand, please don’t fret about all of the information you’ve seen on the web. Yes, securing a small business loan of any kind is tedious and depends on varying lending organizations and business needs, but there is a list of general requirements small businesses should be aware of before getting knee-deep in conflicting information about lenders.
After some extensive research posing as the owner of imaginary businesses and annoying every loan officer who’d take my call, I’ve found three general lending requirements. I also provide a collection of the tangible information banks will likely review to meet those requirements. Take a gander:
Small businesses must have necessary assets: steady cash flow, financial reserves, personal collateral to support a variety of business fluctuations (i.e. unexpected employee loss), and a realistic payoff plan. These assets and financial safety nets are necessary for any lending organization to be confident in your business’s ability to support employee expansion in lieu of current expenses.
Proof of past
Just as you will come to expect from your soon-to-be employees, lenders want proof of the past and how you’ve managed past loans to align with your business goals. Historical evidence will further determine if your expansion is feasible, but also if it is worthy for the company to accept the lending risk.
Finally, be prepared to provide your small business’s explicit expansion plan, including how you arrived at your suggested loan amount and how you intend to divvy out the funds. It is important that you are as specific as possible in your projected numbers, seeing as one employee could make a $60,000 difference, and largely affect your expansion plan and financial need.
Before you go…
Now that you’re equipped with the magic three, you’re probably feeling empowered to walk into your nearest bank and demand your small business loan. Let’s first be sure you have all of the necessary information on hand and ready to produce.
Lenders that look for the magic three before investing arrive at their conclusion after collecting data from the following pertinent information:
– Proof of collateral
– Business plan and expansion plan
– Financial details
– Current and past loan info
– Debts incurred
– Bank statements
– Tax ID
– Contact info
– Accounts receivable information
– Sales and payment history
– Accounts payable information
– Credit references
– Financial statements
– Balance sheet
– Profit and loss history
– Copies of past tax returns
– Social Security Numbers
– Assets and liabilities details
Now, my friend, do I release you as proud as a parent unto your nearest bank to secure your small business loan and begin growing your staff the way you’ve dreamed. I’m confident you will find the aforementioned information helpful in the said quest and would like to wish one last time (because it’s impossible to over-congratulate) a sincere CONGRATULATIONS on your business’s growth.
What to consider when relocating your business near the holidays
(ENTREPRENEUR) When can you pack everything up without disrupting operations, going offline, and sinking your sales? The answer may surprise you.
If your business has outgrown its current space, it may feel like there’s never a good time to think about relocating. When can you pack everything up without disrupting operations, going offline, and sinking your sales? The answer may be during that post-holiday slump.
Though the holiday season is marked by increased shopping and general economic activity during the run-up, once the holiday season actually begins, we tend to see a slowdown that leads to low first-quarter profits. Decreased profits during this period don’t mean we’re looking at an overall economic slump, but rather that everyone is recuperating from holiday spending sprees, while companies assess and prepare to launch their start-of-year marketing strategies. It’s a time of renewal and reconsideration, from an economic perspective.
If you’re thinking about relocating your business this holiday season, you’re on track for decreased business disruptions, but that doesn’t mean you have an easy road ahead of you. Here’s what you need to know to execute the move smoothly.
Have a loose timeline
One of the most challenging things about relocating is that it can be hard to predict how long it will take to properly execute your move. That means, even if you tell your customers you’re relocating, you shouldn’t expect to give them a hard re-opening date. Rather, the length of time it takes to move tends to hinge on a number of factors, including distance, size of your business, infrastructure issues, and regulatory concerns, not all of which are easily predictable.
You’ll also want to leave some buffer time when planning your move because you can’t predict problems that might arise with the moving company. Bad weather or a broken-down truck can delay a move, especially if you’re working with a small company. Moving companies may also offer you a lower rate if you’re flexible with your move dates.
Consider your employees
Another question you’ll want to ask before moving is, “Where are my employees in all this?” Some companies firmly believe in giving employees holidays off, even if it means closing a profitable business like a restaurant during an otherwise profitable time. Other companies, however, typically assume employees will be in the office during or immediately after major holidays.
Regardless of your usual philosophy, you need to determine what role your employees will play in your move.
While they shouldn’t be responsible for the physical process of moving, do you expect them to participate in packing and setting up the new location? You should be clear about your expectations while recognizing that moving is outside the scope of typical job duties. You also will need to budget to pay your employees during this downtime while also financing the move, even though you won’t be bringing in a profit.
Mind the locals
If you’re primarily an online business, you may not have to worry about how relocating will impact customers – other than some downtime, these individuals will be minimally affected. However, for businesses that run a brick-and-mortar storefront, changing locations can have implications for your community relationships.
If you move outside your original area, for example, you may lose customer goodwill or even sacrifice some of your customer base altogether. Depending on the service you provide, they may come back, or they may find another option closer to home.
The holidays are a busy time in general, but they’re an unusual time for businesses since economically it’s the pre-holiday period that’s actually the most hectic. Take advantage of this imbalance to move your business with the least fuss during the last few days of the year or at the start of the first quarter. You’ll be pleased to find how smoothly a company move goes when customers are otherwise occupied.
Choose your startup business partner wisely
(ENTREPRENEUR) Creating a startup business with a friend sounds amazing, but consider carefully if you may be better off as friends.
So, you want to be your own boss? Maybe get out and into a new career to crawl out from under the corporate drone motif? What better way to do it than to go into a startup business for yourself?
Hundreds of Americans have ideas that could turn into a new career. But not as many have the support structure, either financial or social, to make these dreams become a reality. A few of these people might look for someone to go into business with to help with the financial burden.
Can you think of a better way to start off a new business than with your best friend by your side? I sure as hell can.
My best friend and I get along great in our personal time. We’re both zombie horror nerds. He’s straight, I’m gay. He’s a cop, I’m an out-of-work geophysicist/bartender/writer – the jokes don’t quit with us. Our typical nights together include drinking at bars and smacking the other one upside the head as deemed necessary. We’re both slightly better than Neanderthals some days. And most importantly, neither of us should be trusted to work together.
Now of course that’s probably more specific to my situation, but let’s just realize that finding two people who can be the closest of friends and business partners is pretty rare.
There are a few people who have figured it out though and you can find a number of pointers online for new/established startup companies. A few of these tips include lots of structure to try and keep the fun at home and the business in the office, clearly defining roles, honest open communication, and strictly defining fiscal expectations.
So basically, it’s like committing to another marriage, which is what another set of people do for their startup business as well. Numerous married couples have put together careers and their relationships, and a great many of them are very successful.
So, if you have someone who you can commit to another potentially lifelong relationship with, and you trust to follow all of these rules, then go for it.
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