Written by Katie Chan
Also known as the ‘Cashflow Queen’, Australian online business coach and strategist Kylie Menz works with entrepreneurs to help them create a scaleable business so they can create a bigger impact. In this article, Kylie describes her journey from a corporate lifestyle to starting her own business, and how her experiences as an entrepreneur have enabled and inspired her to help others today.
As an Australian entrepreneur living and working in the UK, has this affected your career?
It has – I wasn’t an entrepreneur when I came to the UK and was very much in the corporate world. I think when you go and work in a different country or place, it creates a kind of time-limit thought process. You tend to take more risks – I took a few risks with my career, tried new things that I may not have done if I had been looking for my ‘be all end all’ career. It helped me to step out of that comfort zone. Having that can-do attitude gets you different opportunities, especially when you know you have a time limit. For example, I walked into an estate agency and said, ‘I want a sales job.’ I had never done that before! I got an interview straight away and progressed quickly through the ranks, from hard work as well obviously. I would say you look for skills for life rather than a job for life when you travel.
You previously had a corporate work lifestyle. How did you get into the online business coaching industry you are in today?
The biggest turning point was when I realised I didn’t want to be my previous boss in 5-10 years. He was bragging about getting his travel card to travel for free because he had hit the retirement age! I was tired of building someone else’s business and realised it was time to build my own.
When you are building a career, you are often working hard with your head down for long hours. You get tunnel vision and don’t even realise the opportunities that are out there. For me, I went to a couple of big events – one was the National Achievers Congress – where I was surrounded by people doing things so different from what I was doing. There was a whole life out there that I didn’t even know about! And that was how I got started online. I started selling other people’s products, doing affiliate marketing. Then I wanted to combine that skillset with my passion for work in business growth, which is how I got started doing business coaching online.
Honestly, I have to say the transition for me was quite hard. Coming from such a structured background to working for myself was very difficult to adjust to. Some things you have to do fast are accountability partners a building a social network. You can easily lose your social life and become lonely, going from this dynamic environment to sitting in your office by yourself. But despite it being tough, it’s definitely about the freedom of choice and flexibility. Having freedom and control of your life is the most powerful thing you can do.
As a business strategist, you work with a lot of different clients. What are some challenges that you face in your daily life as an entrepreneur?
Variety is what keeps me interested, so I love working with clients. It was easy to fall into the common trap for new entrepreneurs – creating another job for yourself. You get into the ‘income rollercoaster’ – you’re getting the client, working with them and delivering, but you’ve got no pipeline nor any time in between. Instead, you need to look at building assets fast and leveraging your time.
Since doing this my business has grown hugely. I always have a consistent flow of clients and income. Growing a business without having the income to grow, is one of the biggest challenges. Undercharging services means entrepreneurs don’t have enough money to expand because they’re not charging enough for the services they provide.
On your website, you mention that to be successful today’s business market you have to be “you, your whole you”. Can you explain the importance of this, and how it relates to an entrepreneur’s success?
For me, it was a realisation of my own business when I started to be the ‘real me’. I was taught to coach through a coach who tried to make me like her, and I felt like a fraud! It wasn’t until I embraced things about myself that I didn’t necessarily like that I was truly myself. For instance, I’m very straight forward – what you see is what you get. I am very direct and always about implementation. Today’s business market is very competitive and you have to be able to stand out. The only way you is to be yourself in your brand and business.
There are so many business coaches now, but they don’t do it the way I do. Look at any of the biggest players in the industry, like Apple. They have implemented the power of personal branding and growth, embracing social media and building up their profile. It’s not just about what you do; it’s who you are. They’re also not just showing the glossy stuff either – this is what I mean by the “whole you”. People want to see your challenges as well as successes. The more authentic you can be, the better you will stand out.
What is one piece of advice that you would give to women wanting to become entrepreneurs?
My piece of advice is a combination of three. Firstly, just do it, because obviously, the gift that you think you’re hiding is definitely within you. One thing I wish I did before I left work is building some sort of audience before you need it. If taking the time to build up an audience warm enough to buy from you is the biggest struggle then you’ve set yourself up for success. Secondly, charge what you’re worth! Don’t compare yourself to others, charge what you are worth. Lastly, invest in yourself. Mindset is the biggest block for women, especially women in business. There is this mentality present that we have to prove ourselves so much before we charge what we are worth. To invest in mindset work is the one that will break through your biggest growth, the quickest.
More information can be found at https://www.linkedin.com/in/kyliemenz/.
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