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A recent study from Jane Out of the Box, an authority on female entrepreneurs, r eveals there are five distinct types of women in business. Based on professional market research of more than 1,000 women in business, this study shows that eac h type of business owner has a unique approach to running a business and therefo re each one has a unique combination of needs. This article outlines three of th e five types and provides tips for managing their time more effectively for the greater success of the company and for the overall well-being of the business ow ner. Merry Jane. This entrepreneur is usually building a part-time or "flexible time" business which gives her a creative outlet (whether she s an ad agency consulta nt or she makes beautiful artwork) that she can manage within specific constrain ts around her schedule. She may have a day-job, or need to be fully present for family or other pursuits. She realizes she could make more money by working long er hours, but she s happy with the tradeoff she has made because her business gi ves her tremendous freedom to work how and when she wants, around her other comm itments. A multi-faceted woman, Merry Jane is adept at multi-tasking and has a true desir e to meet every one of her obligations well and with care. Overall, the Merry Ja ne entrepreneurs we’ve spoken with feel satisfied with the balance they’ve found between their work and personal lives, and would like to increase their busines s’ income without putting in significantly more time. Of the five types of entre preneurs, Merry Jane is least in need of time management advice – however, follo wing are some tips she may consider to increase her profitability without giving up her precious time freedom. Discipline and systems are key in all aspects of Merry Jane’s life – and she can further implement those assets to maintain her s atisfaction while increasing her business’ bottom line. • Marketing. Efficiency is the most crucial element of Merry Jane’s market ing systems. They need to be effective without requiring a large time investment on Merry Jane’s part. To ensure marketing efficiency, Merry Jane must identify her target market and create a clear marketing message (a quick and easy way to identify her target market is to ask existing customers what they like most abou t working with her). Marketing systems that do not require significant time inve stments include social networking and referral/affiliate marketing. • Hiring. Merry Jane enjoys that her business allows her to bring her tale nts and creativity to bear in serving her customers. Once her new marketing syst ems increase her workload (and therefore her income), she may find it practical to hire a helper or two to take care of the business tasks she finds less desira ble, such as bookkeeping or errand-running. Doing so will allow Merry Jane to de lve into her creativity and maintain the time freedom she wants and needs in ord er to meet all her obligations (including her own well-being). Accidental Jane is a successful, confident business owner who never actually set out to start a business. Instead, she may have decided to start a business due to frustration with her job or a layoff and then she decided to use her business and personal contacts to strike out on her own. Or, she may have started making something that served her own unmet needs and found other customers with the sa me need, giving birth to a business. Although Accidental Jane may sometimes stru ggle with prioritizing what she needs to do next in her business, she enjoys wha t she does and is making good money. About 18% of all women business owners fit the Accidental Jane profile.



While many Accidental Jane business owners run their businesses successfully for years, striking the careful balance of enough, but not too much work, others ar en’t as certain of what they want. This makes sense, since many Accidental Janes did not set out to start a business, and they often simply respond to the marke t’s demand for services. For these women, the future may present some tough choi ces – and how she deals with these choices will determine whether she remains an Accidental Jane or develops into another type of business owner. She is so good at what she does that the demand for her services will likely increase over tim e. So how can she maintain the time-freedom lifestyle she so enjoys? • Filter. If her workload becomes overwhelming, Accidental Jane will have to begin saying, “no” to at least some new projects or clients. To decide which projects or clients to take on, and which to pass on, she can create a “non-nego tiables” filter to determine whether a project or client meets the criteria she develops. For example, if it’s important for her to enjoy working with her clien ts, she may pass on a new client with whom she doesn’t click. If it’s important to her to stretch her creative muscles, she may take on only projects that deman d that of her. In this way, Accidental Jane can ensure she’s working only on pro jects she enjoys, while acquiring only the amount of work she wants. Similarly, Accidental Jane can create a list of personal tasks she really enjoys and tasks she doesn’t care for. If possible, she can hire someone to take on the tasks she doesn’t care for, leaving her more time to work on what she enjoys. • Pricing. It’s great to be in demand! If Accidental Jane begins to feel o verwhelmed, she may consider examining her pricing and raising her rates. Whethe r she started her business with intentionally low rates and then never raised th em, or she resisted raising her rates because she didn’t want clients to questio n her value, if the demand for her services has increased beyond what’s comforta ble for her, Accidental Jane likely has room for increases now. To determine whe re her prices fit within her industry, she can research published prices or ask trusted customers how her competitors’ prices compare. Tenacity Jane is an entrepreneur with an undeniable passion for her business, an d one who tends to be struggling with cash flow. As a result, she s working long er hours, and making less money than she d like to be. Nevertheless, Tenacity Ja ne is bound and determined to make her business a success. At 31% of women in bu siness, Tenacity Janes are the largest group of female entrepreneurs. Of the Tenacity Jane business owners interviewed, 90 percent reported dissatisfa ction with cash flow, and the majority said they were unhappy with revenue, busi ness costs or personal income from their business. Despite these financial marke rs, most Tenacity Jane business owners work longer hours than they’d like to and frequently feel frustrated or stressed. It is possible to shift this balance so the hard work and long hours pay off. • Focus. Our research revealed that many Tenacity Jane business owners wer e running in several directions at once. Their ultimate vision included multiple streams of income, and these entrepreneurs were often trying to activate all th ose streams at the same time. To ensure that her time is well-spent and to get h er business on more solid financial footing, Tenacity Jane must find a focus. A thorough examination of her business concept and model (what, exactly, is her bu siness offering customers, and is it possible to make enough money with the curr ent business model?) can help her determine whether she needs to make any change s. She can focus on creating a “point of entry” for the business – what does it do? – and then develop 1 to 3 benefits (what does the customer get from what the business does?) to go with it. Not only can Tenacity Jane use these ideas for m arketing, they will also help her develop a true focus so she can work more effi ciently. • Set Goals. For Tenacity Jane, who is often exhausted by her ongoing fina ncial struggles, even developing goals may seem overwhelming – because actually reaching them may seem improbable. Once she’s determined her business’ direction



, though, setting and achieving goals will keep her focused and efficient so the time she does spend on her business is effective. The key is to start making st eady progress, one step at a time. For starters, she can choose 1 moderate, or u p to 3 small goals to work toward during a one month or 6 month interval. focusi ng on the goals that will have the biggest impact on her business and life. With practice, goal-setting (and achieving!) will become life’s paradigm. While strong time management skills can streamline a business’ systems and incre ase its profitability, they also can improve an entrepreneur’s work-life balance and create overall satisfaction. Every type of business owner can improve her t ime management abilities – and therefore her level of happiness in her work and her life. Interested in learning more about the five Jane types and which Jane you are? Ch eck out www.janeoutofthebox.com Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessmen t at Jane out of the Box. Offering networking and marketing opportunities, key r esources and mentorship from successful women in business, Jane Out of the Box i s online at www.janeoutofthebox.com

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