Latest / WOC and Allies: Business and Career Realtalk with Elaine Lou Cartas / 90: How to Start Your Business and Get Your First Paying Clients

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90: How to Start Your Business and Get Your First Paying Clients · WOC and Allies: Business and Career Realtalk with Elaine Lou Cartas

• 0:00
  SPEAKER_00: I can't believe summer is already here almost when I'm recording this.
• 0:05
  SPEAKER_00: And so often people think summertime is when people are out having fun and they're just so done with work and life.
• 0:12
  SPEAKER_00: And yes, to all of it.
• 0:15
  SPEAKER_00: I love summer.
• 0:16
  SPEAKER_00: I'm getting ready to take a full week to do a road trip from LA to Napa.
• 0:22
  SPEAKER_00: I can't wait.
• 0:23
  SPEAKER_00: I can't wait to be in nature to not be working at all.
• 0:28
  SPEAKER_00: And at the same time, when we are playing, a lot of us are also questioning and asking hard questions of like, do I even like what I'm doing now?
• 0:41
  SPEAKER_00: I think I want to start a business and wanting to do some risque things.
• 0:47
  SPEAKER_00: And I say that because in the past couple of weeks, and I'm recording this early June, I've been getting more sales calls with people wanting to start a business.
• 0:57
  SPEAKER_00: I'm also in my almost seven years in business as a coach.
• 1:02
  SPEAKER_00: I'm finishing up my professional certified coach credential through the International Coaching Federation.
• 1:08
  SPEAKER_00: And I'm part of the Center for Executive Coaching.
• 1:12
  SPEAKER_00: There's numerous schools you could choose from.
• 1:13
  SPEAKER_00: I'm so grateful to be part of this school.
• 1:16
  SPEAKER_00: The people in there are incredible.
• 1:18
  SPEAKER_00: Cancer survivors, part of the military, Navy, successful former and current Fortune 500 executives.
• 1:27
  SPEAKER_00: And they have been hitting up my DMs on LinkedIn asking me, how did you start your business?
• 1:34
  SPEAKER_00: How did you get your first paying clients?
• 1:38
  SPEAKER_00: So I figured, you know what?
• 1:40
  SPEAKER_00: How about I serve all the people that I've been connecting with doing a podcast episode?
• 1:45
  SPEAKER_00: Yes, I am giving the goods.
• 1:46
  SPEAKER_00: I'm giving the same goods that I would with paying clients.
• 1:51
  SPEAKER_00: The only difference with this podcast episode is obviously it's more general.
• 1:55
  SPEAKER_00: And working with clients, I more individualize and we come up with an individual plan as well as goals for them to get accountability and get results faster.
• 2:06
  SPEAKER_00: So you are going to want to take out a pen and paper for this podcast episode because I'm sharing all the dates.
• 2:14
  SPEAKER_00: I am not gatekeeping in this one.
• 2:17
  SPEAKER_00: And why do I want to give all the goods?
• 2:19
  SPEAKER_00: Well, I created this podcast to provide free and accessible information.
• 2:25
  SPEAKER_00: So do me a favor, if you love this podcast episode, please leave a rating and review.
• 2:31
  SPEAKER_00: And then two, share this with someone else that might find a benefit with this episode.
• 2:36
  SPEAKER_00: All right, I keep talking too much, but then again, it is a podcast.
• 2:40
  SPEAKER_00: So let's drop the beat.
• 2:43
  SPEAKER_00: Hey, I'm Elaine Lu Cartas.
• 2:45
  SPEAKER_00: I'm a business and career coach for women of color and allies.
• 2:49
  SPEAKER_00: Elaine Weekly awarded me the number one thought leader, and Apple News named me one of the top five business coaches.
• 2:57
  SPEAKER_00: Done doing the most as a woman of color or ally, and you want to create your own definition of success and happiness?
• 3:06
  SPEAKER_00: Well, grab your coffee tea or boba and let's do some business and career real talk.
• 3:15
  SPEAKER_00: Before we talk about how to get your first paying client to start your business in five simple steps, I want to share with you why I'm qualified.
• 3:26
  SPEAKER_00: First, is I'm almost at seven years in business and I've generated seven figures in revenue.
• 3:33
  SPEAKER_00: I've served about 3,500 plus clients in 58 different countries.
• 3:38
  SPEAKER_00: And I got my first paying client, who happened to be my first client, the first day I started my business.
• 3:47
  SPEAKER_00: I didn't do the whole like, let me do this for free.
• 3:50
  SPEAKER_00: No, I actually got my first paying client when I claimed I was going to start my coaching business.
• 3:57
  SPEAKER_00: It has a lot to do with my experience prior to starting my business and executive career coaching business that you see now.
• 4:06
  SPEAKER_00: You see, this coaching business is actually my second business.
• 4:10
  SPEAKER_00: Before this business, I was a former fundraising consultant for political campaigns and nonprofits throughout the country, specifically the United States, where I raised millions.
• 4:23
  SPEAKER_00: So I worked on local statewide campaigns in California, Montana, New Mexico, Iowa, and Massachusetts.
• 4:31
  SPEAKER_00: And I started the campaigns from scratch, which means no money, no donations.
• 4:37
  SPEAKER_00: And I had to learn how to raise millions from zero to six months, a year, two years, depending on how long I was in the campaign.
• 4:44
  SPEAKER_00: I knew how to create the right messaging, target the right list of donors, and how to message and do an ask to get a donation.
• 4:55
  SPEAKER_00: And let's talk about these two specific industries I worked in.
• 4:59
  SPEAKER_00: It will just give you a better idea of why I've been successful at starting and scaling my business and how I got my first paying clients and how it will resonate to you.
• 5:09
  SPEAKER_00: So I promise sharing my story will help you understand how to start your business because we learn so much in storytelling.
• 5:16
  SPEAKER_00: Also, I want to share, I didn't get it perfect.
• 5:18
  SPEAKER_00: I failed.
• 5:19
  SPEAKER_00: I have been in debt.
• 5:21
  SPEAKER_00: I have cried like a starfish on my floor.
• 5:26
  SPEAKER_00: So I've definitely have gone through the strides and I will continue to do so because we are human.
• 5:32
  SPEAKER_00: So in political campaigns, before we even asked for donations, we had to do target market research, which meant understanding and meeting with community leaders and stakeholders to see what issues were important to them.
• 5:48
  SPEAKER_00: So each congressional district or statewide Senate district, it's going to be unique and different for whatever their challenges are.
• 5:56
  SPEAKER_00: So, for example, I live in Los Angeles right now.
• 6:00
  SPEAKER_00: So rent is really huge, for example, or even living in California, having taxes for roads or earthquake.
• 6:09
  SPEAKER_00: Like those are issues that are going to be unique for our state compared to others.
• 6:13
  SPEAKER_00: And seeing what is important for voters and donors when sending messaging, right?
• 6:20
  SPEAKER_00: For example, one congressional candidate I worked with, we were using messaging on green solar energy, and that helped her win.
• 6:28
  SPEAKER_00: And then in the nonprofit sector, so for any of you that have worked in the nonprofit sector, when you want to raise money in capital, you need to work with your board members, look at the Rolodex, and strategize on how to raise money for whatever the cause was.
• 6:42
  SPEAKER_00: So I worked for a nonprofit, we're raising money for community college students, scholarship money.
• 6:47
  SPEAKER_00: And before we went through their contacts, the board members' contacts to ask for donations, we did something similar to what I did in political campaigns, which is target market research, but the nonprofit sector, it's called feasibility studies, where we met with community leaders and potential donors to ask for feedback.
• 7:06
  SPEAKER_00: So I had all this background of how to raise money, how to figure out messaging.
• 7:12
  SPEAKER_00: And here's what I want you to hear from all of those past experiences.
• 7:16
  SPEAKER_00: I wasn't clear in terms of, okay, this is the candidate, this is what they're for.
• 7:21
  SPEAKER_00: I mean, we did have a general sense, but we also tested the messaging with the audience.
• 7:26
  SPEAKER_00: So we knew how to ask for donations and we knew how to have elected officials win, or we knew how to raise money for a specific cause when I was working in the nonprofit sector.
• 7:39
  SPEAKER_00: So when it came to my business and starting it, I knew I had to do target market research.
• 7:44
  SPEAKER_00: I knew I had to have a better understanding of who I wanted to serve, what was the messaging, and how I could best serve and support them by asking for feedback, which is what target market research is.
• 7:55
  SPEAKER_00: So in this episode, I'll share what I did.
• 7:59
  SPEAKER_00: And we will individualize what you can do to start your business, start getting your first paying clients.
• 8:06
  SPEAKER_00: And in doing so, I'll share with you my stories.
• 8:09
  SPEAKER_00: Also, this is action-packed.
• 8:11
  SPEAKER_00: So you will have five assignments in this podcast episode.
• 8:14
  SPEAKER_00: You are welcome.
• 8:16
  SPEAKER_00: And I'm excited to give you the strategy step and steps on how I did it.
• 8:21
  SPEAKER_00: So, first step, I want you to think about what do you want to create?
• 8:27
  SPEAKER_00: Maybe you aren't clear of what kind of service or product you want to create, and you probably feel ashamed because you aren't clear.
• 8:37
  SPEAKER_00: And that is completely okay.
• 8:39
  SPEAKER_00: At least you know you want to create something.
• 8:41
  SPEAKER_00: So write it pen to paper when creating a business of what you think you want to do.
• 8:47
  SPEAKER_00: Also, side note, when creating a business, it's it's hard because you're going in status quo.
• 8:56
  SPEAKER_00: You are creating a business that's different from what school and society taught us.
• 9:02
  SPEAKER_00: For example, you think you're supposed to figure out what you want to do in your life and you want to be a doctor.
• 9:07
  SPEAKER_00: And to become a doctor, you know the steps.
• 9:09
  SPEAKER_00: Go to med school, residency, figure out your specialty, and then become a doctor.
• 9:14
  SPEAKER_00: You'll be in a ton of debt, but then you'll start making a lot of money and then pay off that debt and become a successful doctor.
• 9:20
  SPEAKER_00: Now, mind you, there is nothing wrong with that route.
• 9:23
  SPEAKER_00: I want the best doctor to operate on me.
• 9:26
  SPEAKER_00: I don't want them to try.
• 9:27
  SPEAKER_00: But in some businesses, like for example, coaching, it's different because you don't know exactly, okay, this is exactly the end result I want to create.
• 9:36
  SPEAKER_00: Instead, you get more clarity as you have more experience.
• 9:40
  SPEAKER_00: And back in 2017, around June, I've shared this story before in other podcast episodes.
• 9:48
  SPEAKER_00: So I apologize if I'm sharing it to you again.
• 9:50
  SPEAKER_00: But I graduated from my master's in leadership and management with intention to be an executive director for a nonprofit.
• 9:57
  SPEAKER_00: The day I graduated, I realized, ugh, I don't want to do this anymore.
• 10:02
  SPEAKER_00: I want to start my own thing.
• 10:04
  SPEAKER_00: I realized I was listening to everyone else's voice and not my own, which I feel like every woman or every human goes through.
• 10:11
  SPEAKER_00: You kind of get that epiphany.
• 10:12
  SPEAKER_00: And I'm not blaming anyone I know, my parents, my ex-boss, all the people around me had their best interests at heart.
• 10:19
  SPEAKER_00: I just had a problem in listening and trusting my voice.
• 10:25
  SPEAKER_00: And for the first time, I heard my voice that I want to start my own business.
• 10:31
  SPEAKER_00: And I knew I was coaching just because I have I was able to go through coaching myself when I was in my early 20s, navigating being a director, how to be assertive, how to create boundaries, how to ask for a raise, how to change careers, which I was able to do.
• 10:47
  SPEAKER_00: I got a coach not with the intention of becoming one, but it just helped me so much.
• 10:53
  SPEAKER_00: And I'm so grateful for my first coach.
• 10:56
  SPEAKER_00: At the same time, when I was interviewing coaches, there wasn't women of color diversity that I experienced.
• 11:02
  SPEAKER_00: So when I graduated on my master's, I knew I wanted to do coaching, but I wasn't sure what kind.
• 11:07
  SPEAKER_00: I knew it was probably life coaching, mindset coaching, career coaching, health coaching.
• 11:12
  SPEAKER_00: So going back to that first question I asked of what do you think you want to create?
• 11:15
  SPEAKER_00: Those were the things I wanted to create.
• 11:17
  SPEAKER_00: Now, my first assignment I want to give you, feel free to pause after I give this assignment to you on this episode.
• 11:23
  SPEAKER_00: Put a list of ideas you want pen to paper and go ahead and pause.
• 11:27
  SPEAKER_00: Maybe play like two songs you really love.
• 11:30
  SPEAKER_00: You know, that if you're a Taylor So fan, feel free to put whatever two songs you're into or Beyonce, it doesn't matter, or maybe Bridgerton because Bridgerton part two is about to come out.
• 11:40
  SPEAKER_00: I think it's coming out like the day this goes live.
• 11:42
  SPEAKER_00: Anyways, put a list of ideas, pen to paper.
• 11:46
  SPEAKER_00: All right.
• 11:47
  SPEAKER_00: Hopefully you did pause the episode and we're going to the second step.
• 11:52
  SPEAKER_00: Similar to what I did when I was a fundraiser to do target market research.
• 11:56
  SPEAKER_00: And if you've watched YouTube, done research on how to start your own business on Google, you'll know that target market research is important.
• 12:04
  SPEAKER_00: And if you don't know what target market research is, I'll explain it here.
• 12:09
  SPEAKER_00: It's gathering data, qualitative data, information from potential customers so that you can start getting clarity on marketing, pricing, services, and business development.
• 12:25
  SPEAKER_00: For example, when I worked in political campaigns, we did polls similar to target market research, where we had a list of questions and we had a targeted list of voters that we were going to ask them feedback for on the messaging.
• 12:40
  SPEAKER_00: So we knew what would work in the district I was working in.
• 12:44
  SPEAKER_00: This allowed us to make decisions on messaging to put in mailers, messaging to do when we'd called voters to remind them to vote, and messaging on how to get donations so we could win the election.
• 12:58
  SPEAKER_00: I mean, we think about local campaigns and the words people use in the past, regardless of where you're at politically and your beliefs, like there's reasons why certain catchphrases really worked well for their target market specifically.
• 13:14
  SPEAKER_00: And then when I worked in the nonprofit sector, we did feasibility studies where we met with community leaders, asked specific questions like what top initiatives were important to prioritize and tackle.
• 13:27
  SPEAKER_00: And in doing so, there was one nonprofit I worked with, and in six months we raised a million dollars for 300 plus student scholarships because we were so intentional of meeting our community leaders, asking for feedback, and they just wanted to donate because we knew what issues were important.
• 13:49
  SPEAKER_00: So in my business, I knew I wanted to coach.
• 13:52
  SPEAKER_00: Those were the topics I gave earlier.
• 13:54
  SPEAKER_00: It was like life coaching, mindset coaching, career coaching, health coaching.
• 13:57
  SPEAKER_00: And I thought I at the time I was like, okay, I think I want to work with first generation millennial women, but I didn't know what type of coaching I want to do.
• 14:08
  SPEAKER_00: So I went through my contacts, Gmail, LinkedIn, Facebook.
• 14:12
  SPEAKER_00: Facebook was really huge back then.
• 14:14
  SPEAKER_00: And I went A through Z.
• 14:16
  SPEAKER_00: And I put two groups of people from that list, A through Z.
• 14:20
  SPEAKER_00: A group of people who met the criteria, first and millennial, and second, second group of conductors.
• 14:26
  SPEAKER_00: So maybe they were my target market, but they knew everybody.
• 14:31
  SPEAKER_00: So they were like the president of an association or organization.
• 14:34
  SPEAKER_00: So your second assignment is I want you to put a list of people that kind of meet that target market demographic.
• 14:43
  SPEAKER_00: Go through your contacts.
• 14:44
  SPEAKER_00: It's okay if they're not in one centralized place and write them down, their names and why you would want to connect with them.
• 14:51
  SPEAKER_00: You're like, Elaine, I don't know anybody.
• 14:54
  SPEAKER_00: I got paid a ton of money to sit down with elected officials and board members to roll a dex and go through their contacts.
• 15:02
  SPEAKER_00: Your network is your net worth.
• 15:04
  SPEAKER_00: So going through your contacts, so you can ask for feedback.
• 15:07
  SPEAKER_00: The goal is not to get clients from it, the goal is to gather information, gather data, test it before you go out there, right?
• 15:17
  SPEAKER_00: So put that list together.
• 15:19
  SPEAKER_00: To make it fun, play music in the background.
• 15:22
  SPEAKER_00: If you need help with a playlist, I created a Spotify playlist with 1990s and 2000s hip hop and RB.
• 15:29
  SPEAKER_00: It's called Mr.
• 15:31
  SPEAKER_00: Bear's Budget Bangers and Spotify.
• 15:34
  SPEAKER_00: And once again, like I said, put a list of people who meet the criteria of your target market into the second group of connectors.
• 15:41
  SPEAKER_00: And also make sure that people in this list are people you like.
• 15:45
  SPEAKER_00: For example, you don't want to put the bully from high school or your old job, but people that you actually like.
• 15:51
  SPEAKER_00: And some of you might ask, wait, why do I have to put this list and why do I need to do a phone call?
• 15:56
  SPEAKER_00: Okay, just do a survey with random people.
• 15:59
  SPEAKER_00: Here's the thing because when doing phone calls, you get to hear qualitative data and words that they are using.
• 16:06
  SPEAKER_00: When connecting with people you know, they know you so well that they could be transparent and honest with you.
• 16:11
  SPEAKER_00: You could also follow up with questions.
• 16:14
  SPEAKER_00: And in phone calls, I got to hear patterns I started hearing.
• 16:19
  SPEAKER_00: I'm just gonna be direct with all of you.
• 16:22
  SPEAKER_00: I find since post-pandemic world, people have such anxiety to connect with people, not just with strangers, but even people we know.
• 16:31
  SPEAKER_00: I want to remind you heal and community.
• 16:35
  SPEAKER_00: And yes, you are going to get rejected.
• 16:37
  SPEAKER_00: Yes, there will be people that won't respond to you.
• 16:40
  SPEAKER_00: And by the way, if you keep sticking around to listening to this episode, I will share with you a script on how you can connect with people.
• 16:46
  SPEAKER_00: It happens, but it is part of being human.
• 16:50
  SPEAKER_00: And I am actually really grateful that I worked.
• 16:53
  SPEAKER_00: I mean, thank God I don't do it anymore that I worked in American politics because I had that experience.
• 16:58
  SPEAKER_00: I did 300 calls a day, recruiting volunteers, hangups, rejections.
• 17:05
  SPEAKER_00: I asked money, millions of it, and raised millions, and I got rejected so many times.
• 17:10
  SPEAKER_00: But the few yeses went up to millions, made impact, got elected officials.
• 17:16
  SPEAKER_00: So I believed in in office.
• 17:18
  SPEAKER_00: And even though I don't do that, I'm not in that industry anymore.
• 17:21
  SPEAKER_00: I still do my due diligence, which means I vote and it's election year.
• 17:24
  SPEAKER_00: So I vote now.
• 17:26
  SPEAKER_00: So I have to, I hate to break it to you, but if you want to create a business, you need to be willing to be okay with rejection, be okay to getting out there and connecting.
• 17:37
  SPEAKER_00: And if it's like, oh, I'm feeling so uncomfortable right now, what is your why?
• 17:41
  SPEAKER_00: Why is this important to you?
• 17:42
  SPEAKER_00: When I think about why I created my coaching business, it's because when I needed help in my career, I didn't see anyone that looked like me or understood the experiences I went through, which is why when I first started, I wanted to work with first generation millennial women.
• 17:59
  SPEAKER_00: Now it's expanded to women of color.
• 18:01
  SPEAKER_00: That's my why.
• 18:02
  SPEAKER_00: And I felt like if I didn't do this, I would have been really selfish because I was so scared and I had fear because I didn't want to show up.
• 18:10
  SPEAKER_00: But showing up allowed me to remind fellow women of color that they could show up for themselves as well.
• 18:16
  SPEAKER_00: And I don't mean show up in terms of being visible, but even showing up and learning how to say no to family members when you don't want to go to a family party because you just had a long week or you don't want to deal with a crazy family member.
• 18:27
  SPEAKER_00: All right.
• 18:27
  SPEAKER_00: I am absolutely digressing.
• 18:30
  SPEAKER_00: It's just, I meet so many people and they're like, this is this is what you did.
• 18:33
  SPEAKER_00: This is how you started your business.
• 18:35
  SPEAKER_00: Yes, I connect with people.
• 18:37
  SPEAKER_00: I thought I needed a website, I thought I needed name cards.
• 18:40
  SPEAKER_00: I I thought I needed to look the part.
• 18:42
  SPEAKER_00: I call it the superhero cape syndrome where people think they need to look the part to become a business owner.
• 18:49
  SPEAKER_00: I'm like, look, consumers are getting smarter.
• 18:52
  SPEAKER_00: People put see-through bullshit.
• 18:54
  SPEAKER_00: I give so much away when people schedule an introductory coaching call with me to see if it's a good fit.
• 19:00
  SPEAKER_00: I treat it like a coaching call.
• 19:03
  SPEAKER_00: I don't even try to like be salesy, like, okay, I'm gonna gatekeep it, not tell you.
• 19:07
  SPEAKER_00: And the reason I do that is because just given this economy, it's an election year, all the worst happening in the world, there is a lack of trust.
• 19:16
  SPEAKER_00: I mean, the general surgeon of America shared that America's the loneliest right now, or humans are the loneliest, that if I want to gain trust, I need to be willing to be out there and give.
• 19:28
  SPEAKER_00: Give so much that even it's okay if I'm gonna get no's, which is why I created this podcast.
• 19:33
  SPEAKER_00: I mean, I know not all of you are gonna want to work with me or don't have the ability to, and that's completely okay.
• 19:40
  SPEAKER_00: But this podcast is my love language to give back.
• 19:44
  SPEAKER_00: Okay, I am absolutely digressing.
• 19:46
  SPEAKER_00: I apologize if you can't tell.
• 19:47
  SPEAKER_00: I am so passionate about this, but I also have been in your shoes as well where the doubts and the fears crept up.
• 19:57
  SPEAKER_00: So make that list of people.
• 20:01
  SPEAKER_00: Legacy leader.
• 20:02
  SPEAKER_00: I know what you're thinking.
• 20:04
  SPEAKER_00: Elaine, you have such good stuff here.
• 20:06
  SPEAKER_00: I want more.
• 20:07
  SPEAKER_00: So if you want more tips and advice for your business career in life, sign up for my gifts and gifts newsletter at elaneloo.com forward slash join.
• 20:19
  SPEAKER_00: That's J-O-I-N.
• 20:21
  SPEAKER_00: And here's three things you'll get when you join, because I'm like Santa Claus.
• 20:25
  SPEAKER_00: I love giving.
• 20:26
  SPEAKER_00: Number one, funny gifts.
• 20:28
  SPEAKER_00: Cause who doesn't love memes and pop culture references?
• 20:33
  SPEAKER_00: This newsletter is so fetched.
• 20:35
  SPEAKER_00: Number two, receive actionable gifts.
• 20:38
  SPEAKER_00: That's business, career, and life tips that you can start doing today.
• 20:42
  SPEAKER_00: Third, the gift of me.
• 20:45
  SPEAKER_00: Not only do you get my wins, but also my failures, my reflections.
• 20:50
  SPEAKER_00: My gifts and gifts newsletter is like an up-to-date diary.
• 20:53
  SPEAKER_00: Think Zenga or Life Journal for my fellow millennials, where I share vulnerable stories, relatable mistakes, and important life tips like what to watch on Netflix.
• 21:05
  SPEAKER_00: Like when's the next Bridgerton season?
• 21:07
  SPEAKER_00: So if you're ready for those fun gifts and actionable gifts to create a more sustainable life, then join my newsletter at elaneloo.com forward slash join.
• 21:18
  SPEAKER_00: That's J O I N.
• 21:20
  SPEAKER_00: All right, let's get back to the episode.
• 21:27
  SPEAKER_00: The third step from that list of people after you're listening to some mute fun music, like my Mr.
• 21:32
  SPEAKER_00: Bear's budget bangers or whatever music you're into right now, whatever era you're in, is identify three to five people that you feel comfortable with doing the target market research first and sending a message.
• 21:45
  SPEAKER_00: And here's a draft message you can use.
• 21:48
  SPEAKER_00: So you're gonna want pen to paper, take notes.
• 21:50
  SPEAKER_00: First name, hey Sam.
• 21:52
  SPEAKER_00: Is there something personal?
• 21:53
  SPEAKER_00: How are things going with your dog?
• 21:56
  SPEAKER_00: How's your trip to Hawaii?
• 21:58
  SPEAKER_00: I've been wanting to create a And certain type of business.
• 22:02
  SPEAKER_00: And since you are part of your target market niche, I would love to connect with you for 20 minutes.
• 22:07
  SPEAKER_00: I'm free this Monday one through three or next Tuesday, four to six.
• 22:12
  SPEAKER_00: What date or time works best for you?
• 22:14
  SPEAKER_00: A couple of little pointers.
• 22:16
  SPEAKER_00: Make sure you provide dates and times you are free based on their time zone.
• 22:19
  SPEAKER_00: You wanted to make an easy decision for them.
• 22:22
  SPEAKER_00: Two, when you do connect with them, share why you want to connect with them.
• 22:25
  SPEAKER_00: And three, send these messages 15 minutes before they start work, ideally Monday through Wednesday.
• 22:32
  SPEAKER_00: For example, I'm recording this podcast during summertime.
• 22:36
  SPEAKER_00: Summer Fridays are a thing.
• 22:37
  SPEAKER_00: Nobody checks emails on Fridays.
• 22:39
  SPEAKER_00: You want to do it 15 minutes before they start work.
• 22:41
  SPEAKER_00: So there's a high probability of them sending message.
• 22:43
  SPEAKER_00: A little fundraising tip.
• 22:45
  SPEAKER_00: I always set messages, emails or texts 15 minutes before they start work.
• 22:49
  SPEAKER_00: So if you're a Pacific girly like me and you have a contact in the East Coast, so yes, you had to send or schedule that message at 5 45 a.m., which is 8 45 East Coast time for someone you might know in the East Coast.
• 23:04
  SPEAKER_00: And if you're like Elaine, I already sent a message, or what if they don't respond?
• 23:08
  SPEAKER_00: I mean, it's summertime or it's just life.
• 23:10
  SPEAKER_00: We are human.
• 23:12
  SPEAKER_00: I would say wait a week to follow up again one more time and then maximum do two follow-ups.
• 23:17
  SPEAKER_00: At least you reached out.
• 23:18
  SPEAKER_00: So my third assignment is put in your calendar 30 minutes when you can draft those texts or emails.
• 23:25
  SPEAKER_00: And you get to decide if it's going to be an email or text.
• 23:27
  SPEAKER_00: If they're like your best friend, text them.
• 23:30
  SPEAKER_00: If so, if it's more professional, email them.
• 23:32
  SPEAKER_00: If you don't have their email and you have their LinkedIn, then message them on LinkedIn, Instagram, whatever social media.
• 23:38
  SPEAKER_00: And so draft those messages and then send them 15 minutes before they start work, anytime between Monday to Wednesday.
• 23:46
  SPEAKER_00: Fourth step, do the target market research with them and ask questions.
• 23:52
  SPEAKER_00: So when you finally schedule a time to connect, start the conversation.
• 23:55
  SPEAKER_00: Personally, obviously ask how they're doing.
• 23:58
  SPEAKER_00: How was their trip?
• 24:00
  SPEAKER_00: How's their family?
• 24:03
  SPEAKER_00: Anything new happening?
• 24:04
  SPEAKER_00: Have they caught up with so and so?
• 24:06
  SPEAKER_00: Share with them why you reached out to them personally and your vision of your business and why you chose to connect with them.
• 24:13
  SPEAKER_00: And then next, yes, I am giving you the whole shebang.
• 24:17
  SPEAKER_00: Here are some questions to ask.
• 24:18
  SPEAKER_00: Hey, so what are your three challenges when it comes to insert the problem you solve?
• 24:23
  SPEAKER_00: What did you try to do to fix the challenge?
• 24:25
  SPEAKER_00: What hasn't worked?
• 24:26
  SPEAKER_00: What has worked?
• 24:28
  SPEAKER_00: Why would you possibly trust me to fix that problem if I had this service or product?
• 24:33
  SPEAKER_00: I want to get your feedback on what I plan to create.
• 24:35
  SPEAKER_00: And then this is the question where you get to jump around of like, hey, these are my thoughts and ideas.
• 24:40
  SPEAKER_00: What do you think of?
• 24:41
  SPEAKER_00: So you're asking direct feedback of the product or service you want to create.
• 24:44
  SPEAKER_00: Seventh, do you know one or two people you can connect me with?
• 24:48
  SPEAKER_00: That is a game-changing question because you never know.
• 24:51
  SPEAKER_00: That question actually led me to get one of my first paying clients, which was like somebody did target market research and her cousin needed help with their career.
• 24:58
  SPEAKER_00: And then eighth question is what's your mailing address so I could send you a thank you card?
• 25:02
  SPEAKER_00: Then write ahead, write in thank you card with a$5 Starbucks card.
• 25:06
  SPEAKER_00: And like I said earlier, that's how I doing target market research is actually how I got my first two paying clients.
• 25:12
  SPEAKER_00: And my first clients were referrals.
• 25:14
  SPEAKER_00: Even to this date, almost seven years in business, majority of my clients are referrals and renewals.
• 25:20
  SPEAKER_00: So, how it happened when I did target market research, someone I put in the list was someone who I met at a conference.
• 25:27
  SPEAKER_00: They became a first client who I helped become more assertive at their job and they got their first six-figure salary.
• 25:34
  SPEAKER_00: My second client I got from doing doing target market research, I asked that question Do you know one or two people you could connect me with?
• 25:42
  SPEAKER_00: And she's like, actually, my I need you to do something to my cousin.
• 25:45
  SPEAKER_00: So I did target market research.
• 25:46
  SPEAKER_00: I was like, I need to work with you.
• 25:48
  SPEAKER_00: How much is it?
• 25:49
  SPEAKER_00: And and it just happened that way because I want to gather information.
• 25:54
  SPEAKER_00: Here's the thing: people think when they want to start a business, they need to be so clear on the end result and every single step.
• 26:02
  SPEAKER_00: And here's the hard part when you're starting a business it's unlearning that, it's planning with a margin of magic, where you start doing baby steps of things and you gain more clarity.
• 26:16
  SPEAKER_00: And target market research is basically basically data, it's qualitative data that you can use on your website, on social media, on marketing materials so you know how to market yourself and get clients.
• 26:30
  SPEAKER_00: So goes to my fourth assignment, make a note of patterns you're hearing from the target market research.
• 26:37
  SPEAKER_00: You'll probably hear data of, okay, these are the patterns I hear.
• 26:44
  SPEAKER_00: So when I did my target market research, I was a crazy Asian, interviewed 73 people.
• 26:48
  SPEAKER_00: You don't have to do 73, start with three to five for now.
• 26:52
  SPEAKER_00: And the three patterns I heard when I interviewed 73 people was number one for first generation immigrants, number one, parents' dream versus American dream versus my dream.
• 27:01
  SPEAKER_00: There's this guilt of like, my parents sacrificed so much for me to be where I'm at.
• 27:08
  SPEAKER_00: And I just need to suck it up because they gave me everything.
• 27:12
  SPEAKER_00: The second pattern I heard was lack of support and resources.
• 27:16
  SPEAKER_00: You know, when discussing our career, parents often say, do what you want.
• 27:19
  SPEAKER_00: What do you like?
• 27:20
  SPEAKER_00: You need to become a doctor, nurse, or engineer.
• 27:22
  SPEAKER_00: Like, not understanding the steps for it.
• 27:25
  SPEAKER_00: And the third is cultural differences.
• 27:28
  SPEAKER_00: That was the third pattern.
• 27:29
  SPEAKER_00: For example, I remember when I went to ask for a salary increase, I asked for my parents for advice.
• 27:34
  SPEAKER_00: And they just said, you should be grateful for what you have.
• 27:36
  SPEAKER_00: You'll eventually get it.
• 27:37
  SPEAKER_00: Like, uh, that's not how this country works.
• 27:40
  SPEAKER_00: Or difficulty balancing family life and work life.
• 27:43
  SPEAKER_00: Oh, because you're too independent, you're you can't have a relationship, or get married, don't work too hard.
• 27:49
  SPEAKER_00: At your age, I had three kids by now, just those passive aggressive comments.
• 27:54
  SPEAKER_00: But those are patterns that I heard.
• 27:56
  SPEAKER_00: And then from the patterns I heard, I knew exactly how to update my website and write content online.
• 28:04
  SPEAKER_00: So after you do a couple, like three or five, see what patterns you're noticing from your target market research.
• 28:11
  SPEAKER_00: And the fifth step to starting your business is to reflect and gather your conclusions.
• 28:19
  SPEAKER_00: Remember, you created a business to follow your own voice, not to do what other people want you to do.
• 28:25
  SPEAKER_00: Like I said earlier, I was doing really well my career.
• 28:28
  SPEAKER_00: I got my master's leadership in management, so I could be an executive director, but I realized that was other people's hopes and dreams for me.
• 28:34
  SPEAKER_00: Not saying that I was upset with that.
• 28:36
  SPEAKER_00: I just didn't know how to honor my voice.
• 28:38
  SPEAKER_00: I was, I was people pleasing too much, that I didn't know how to please what I wanted.
• 28:44
  SPEAKER_00: And when I was doing target market research, there's two patterns.
• 28:48
  SPEAKER_00: I heard a pattern of like, oh my gosh, I would love for you to be a career coach and help me.
• 28:52
  SPEAKER_00: I was like, okay, that resonates.
• 28:53
  SPEAKER_00: There was another one, which is doing like health coaching because I lost 20 pounds.
• 28:58
  SPEAKER_00: And even I had to reflect on that.
• 29:00
  SPEAKER_00: Do I want to be like a personal trainer or health coach?
• 29:02
  SPEAKER_00: And I told myself, no, I mean, I love being healthy, just don't really want to teach people on that.
• 29:08
  SPEAKER_00: So I just want to make sure when you're creating your business, doing the target market research, basing off your messaging and marketing and how you're going to do sales, it's not just based off of what people are saying, but it's actually something you want to do.
• 29:22
  SPEAKER_00: And this is not target market research, isn't just something to do when you start your business.
• 29:28
  SPEAKER_00: In my almost seven years in business, I do target market research at least once a year.
• 29:34
  SPEAKER_00: I am constantly improving my messaging and services based on feedback.
• 29:40
  SPEAKER_00: For example, I noticed after my first year in business, like, yes, I wanted to work with first generation millennial women, but I noticed from my data, I was attracting more women of color instead of first-gen immigrants.
• 29:53
  SPEAKER_00: So I shifted my niche to make it a little more broader.
• 29:55
  SPEAKER_00: I also had some allies message me saying if they wanted to work with me, which is why I put my messaging woman of color and allies, business and executive care coach.
• 30:07
  SPEAKER_00: Another reason why I put that as my title, I put women of color and allies, is because I literally I would ask people who had sales calls who were not a referral, what made you want to work with me or how'd you find me?
• 30:18
  SPEAKER_00: Oh, I was looking for a woman of color coach.
• 30:20
  SPEAKER_00: Like, oh, okay.
• 30:22
  SPEAKER_00: So then I should update that on all my social media and my emails.
• 30:26
  SPEAKER_00: I should update that on my website.
• 30:27
  SPEAKER_00: Like if you look up WC Business Coach or WOC Career Coach, I am number one on Google after the ads.
• 30:34
  SPEAKER_00: I made that intention because I was hearing data from people.
• 30:37
  SPEAKER_00: So when people tell me something, like, oh, I need to update that.
• 30:40
  SPEAKER_00: And I also want to share, I know people say, I mean, look, you're gonna get advice from me, advice from other people or other coaches, but I'm just gonna tell you, you do not have to do services for free to get started.
• 30:53
  SPEAKER_00: I did not.
• 30:54
  SPEAKER_00: When I claimed I wanted to do my business, I went to the Secretary of State.
• 30:58
  SPEAKER_00: I took the day off to register my business.
• 31:00
  SPEAKER_00: I also took that day to take my grandma to an eye doctor's appointment.
• 31:04
  SPEAKER_00: I got my first paying client because I did target market research for them.
• 31:08
  SPEAKER_00: You don't need a fancy website or social media in the beginning.
• 31:12
  SPEAKER_00: I remember I wanted to have a website so badly in the beginning, even though I didn't have data.
• 31:17
  SPEAKER_00: But what I realized is I wasn't having confidence.
• 31:20
  SPEAKER_00: Like I was saying earlier, it's that superhero cape syndrome.
• 31:24
  SPEAKER_00: Felt like I had to look the part, but I had to understand my target market.
• 31:29
  SPEAKER_00: But now I will say my website is important and my website has evolved.
• 31:34
  SPEAKER_00: I remember having that pink, girly, gold, and white feminine color.
• 31:40
  SPEAKER_00: Now it's red, blue, and yellow.
• 31:44
  SPEAKER_00: It mimics the Philippines flag, by the way, to honor my ancestors.
• 31:49
  SPEAKER_00: But there's videos and pictures of me and my with my clients because community is so important to me.
• 31:54
  SPEAKER_00: And the feedback I've gotten doing target market research over the years is I love that I see it's you with your clients and they're so diverse.
• 32:01
  SPEAKER_00: They're not just Asian or Filipino.
• 32:04
  SPEAKER_00: It's like the United Nations up in there.
• 32:06
  SPEAKER_00: I focus on having a newsletter.
• 32:08
  SPEAKER_00: If you want to join my newsletter, go to ElaineLu.com forward slash join.
• 32:12
  SPEAKER_00: Because majority of my clients are millennials like me who love reading them.
• 32:17
  SPEAKER_00: It's like Xenga in Live Journal.
• 32:20
  SPEAKER_00: I have this podcast because I have successful clients and successful people in the audience where they're they don't have time to like scroll through on social media.
• 32:30
  SPEAKER_00: So they're listening to this podcast as they're washing dishes, folding clothes, working out.
• 32:36
  SPEAKER_00: And they want to actually get in-depth information and data to help them in their life and their business or career.
• 32:43
  SPEAKER_00: That's why I created this podcast.
• 32:45
  SPEAKER_00: You're welcome.
• 32:46
  SPEAKER_00: Also, if you love it, leave a rating and review.
• 32:48
  SPEAKER_00: So here's my final safe assignment for you on doing target market research.
• 32:54
  SPEAKER_00: After each conversation, ask yourself, what did I like about what that person had to say?
• 32:59
  SPEAKER_00: What resonated, what didn't?
• 33:01
  SPEAKER_00: Make sure to make reflections of what you liked and didn't, and how you can make sure you're honoring your voice in this business.
• 33:08
  SPEAKER_00: And fun surprises.
• 33:10
  SPEAKER_00: Don't be surprised if you get your first paying clients or your target market research.
• 33:13
  SPEAKER_00: That's okay.
• 33:15
  SPEAKER_00: That's how I got mine.
• 33:16
  SPEAKER_00: And if you didn't, or if you don't get your first paying clients, now you have data to create your website and your social media.
• 33:25
  SPEAKER_00: And if you're like, Elaine, I actually just need scripts on how to sell, then I actually have a freebie for you.
• 33:30
  SPEAKER_00: And you're gifted this because you stayed towards the end of the podcast episode.
• 33:34
  SPEAKER_00: Go to ElaineLew.com forward slash scripts.
• 33:38
  SPEAKER_00: That's E-L-A-I-N-E-L-L-U.com forward slash scripts.
• 33:43
  SPEAKER_00: So here's my reflective question for you.
• 33:46
  SPEAKER_00: Number one, why do you want to start your business?
• 33:51
  SPEAKER_00: And I say that because I said earlier, business is so tough.
• 33:54
  SPEAKER_00: So I want you to reflect on why do you want to start this?
• 33:57
  SPEAKER_00: Are you wanting to leave or end chapter in your life and start this?
• 34:00
  SPEAKER_00: My action items for you.
• 34:02
  SPEAKER_00: I'm going to basically summarize the five assignments I gave you in this podcast episode.
• 34:06
  SPEAKER_00: One is put a list of your business ideas you want to do.
• 34:10
  SPEAKER_00: Two, put a list of people in your possible target market or connectors.
• 34:16
  SPEAKER_00: Go A through Z from your contacts, whether they're on your phone, Gmail, LinkedIn, wherever they may be.
• 34:21
  SPEAKER_00: Let's make this assignment fun.
• 34:23
  SPEAKER_00: Play music in the background.
• 34:25
  SPEAKER_00: You could check out my Spotify playlist, Mr.
• 34:27
  SPEAKER_00: Bear's Budget Bangers, which is 1990s and 2000s hip hop.
• 34:31
  SPEAKER_00: Three, reach out to low-hanging fruit, three to five people.
• 34:35
  SPEAKER_00: You're probably gonna have to listen or go back and replay if you want to hear the exact messaging to do for that.
• 34:41
  SPEAKER_00: And then fourth, make a note of patterns you're hearing from those target market research.
• 34:46
  SPEAKER_00: And then fifth, reflect on what resonates and doesn't resonate from each of those conversations.
• 34:51
  SPEAKER_00: Remember, plan with a margin of magic.
• 34:54
  SPEAKER_00: Target market research is here for you to gather qualitative data so you know how your business is gonna look like and you gain more clarity from it.
• 35:04
  SPEAKER_00: And if you're like, Elaine, I don't know, this seems way too easy.
• 35:08
  SPEAKER_00: Like, actually, yes, the steps seems easy, but you know what's gonna get in your way is the itty bitty shetty committee, aka your head of like, don't start it.
• 35:17
  SPEAKER_00: You need this, this, and this.
• 35:18
  SPEAKER_00: I want to go back to like, why do you want to start this business in the first place?
• 35:22
  SPEAKER_00: And if you need further support, feel free to schedule an introductory business coaching review call with me.
• 35:32
  SPEAKER_00: It's free for 30 minutes at ElaineLu.com forward slash call.
• 35:37
  SPEAKER_00: That's E-L A I N E L O U.com forward slash call.
• 35:41
  SPEAKER_00: And in that call, we'll discuss what you need support in.
• 35:45
  SPEAKER_00: I'll give you at least three action items by the end of the call.
• 35:48
  SPEAKER_00: If it's a great fit to work together, great.
• 35:50
  SPEAKER_00: I'll share with you how it may look like to work together.
• 35:53
  SPEAKER_00: And if by the end of the call it's not a great fit, great.
• 35:56
  SPEAKER_00: I'll refer you to other people and resources.
• 35:58
  SPEAKER_00: So it's a win-win for you.
• 36:00
  SPEAKER_00: But really wanted to create this podcast episode to be action-packed.
• 36:05
  SPEAKER_00: So you can start your business, get your first paying clients.
• 36:08
  SPEAKER_00: And it's kind of like a pre-celebration before my seven-year business anniversary.
• 36:14
  SPEAKER_00: But if I was able to start a business during the summer, you can too.
• 36:18
  SPEAKER_00: And if you need further support, just go to elaneloo.com forward slash call.
• 36:25
  SPEAKER_00: I hope you are pumped.
• 36:27
  SPEAKER_00: And I really hope you start creating aligned action.
• 36:32
  SPEAKER_00: Because you know it's possible to start your business and actually get paid and get your first paying clients after this episode.
• 36:40
  SPEAKER_00: If you found this episode helpful, here are four things you can do if you feel called to do them.
• 36:47
  SPEAKER_00: Number one, if you could leave a five-star rating in review, that would mean so much to me and my team.
• 36:55
  SPEAKER_00: We created this podcast for accessible education for women of color and allies.
• 37:00
  SPEAKER_00: Each episode takes about four hours to create.
• 37:03
  SPEAKER_00: Takes me one hour to prep, another 30 minutes to one hour to record.
• 37:07
  SPEAKER_00: Then my team spends another two hours to edit and market.
• 37:11
  SPEAKER_00: Number two, because my team and I care about accessible education, share this podcast episode with a friend who is wanting to start a business.
• 37:22
  SPEAKER_00: Send them this podcast link and your personal message on how this podcast episode can help them.
• 37:31
  SPEAKER_00: Number three, don't forget to hit that follow and subscribe button because when you do, it allows the streaming platform you are listening to know how important this podcast is to fellow women of color and allies like you.
• 37:49
  SPEAKER_00: And number four, if you need support in your career or business and you're interested in working with me, then schedule an introductory legacy business and career review call with me.
• 38:02
  SPEAKER_00: I only bring in two to four new clients each month to ensure client service and experience.
• 38:09
  SPEAKER_00: And we work with 24 clients maximum at one time because we care so much about our client results.
• 38:17
  SPEAKER_00: You can schedule that complimentary legacy business and career review call at elenelu.com forward slash call.
• 38:25
  SPEAKER_00: That's e-l-a-in-e-lo.com forward slash call.