In Conversation with Business Strategy Consultant Frenchie Ferenczi
Describe your business in a few words?
My business helps entrepreneurs find more time, money, and freedom by arming them with killer strategies that they can execute in the time they have. In other words, I help business owners get sh*t done, and reach their goals as a result.
What made you take the leap to start your own business?
I’ve been wanting to start my own business for as long as I can remember, but I always felt like it wasn’t the right time, or that I didn’t have the right idea. When COVID hit, my job situation changed, and the idea I had been waiting for finally presented itself. I saw the impact that the pandemic was having on mothers, and I realized that I could help moms build and scale their businesses. The cool part was that when it all clicked, I suddenly felt unstoppable. It no longer felt like a dream I was chasing after, it felt like a purpose.
What was your background prior to starting your own business?
Over the course of a decade-long career as a strategy and operations leader in high-growth startups, I opened ten properties, onboarded 10,000+ members, and launched an app. My career started in restaurants and then transitioned to coworking and membership spaces (with a brief stint in a hotel). I was always (over)committed to my job, and thanks to that I was able to do big things, and learn a lot along the way.
Did you always know you wanted to be an entrepreneur?
Yes! I was always pretty sure that I would be a business owner, but I had a lot that held me back. I was always scared and unsure of whether I could actually make it happen. I had a hard time coming up with “the perfect” idea, or I was coming up with very expensive hard-to-scale ideas.
Take us back to when you first launched your business, what was your marketing strategy to get the word out and did it go as planned?
My launch strategy was to use Instagram and e-mail to build an audience who got tangible value from each interaction. Although I focused on my existing network to help amplify my message, I knew that to meaningfully grow my business I needed (and wanted) to engage an entirely new audience. Overall, it did go as planned, because I managed my expectations–I knew that it would be a long journey that would build, slowly. I feel proud that I have worked hard to earn each and every person on my list.
How has your business or industry been impacted by the COVID-19 pandemic?
Some people, especially moms, have less time than they ever have and the idea of starting their own business may seem even further away. The truth is that it is possible, and I have seen so many folks build impressive online businesses in the past year. It’s a challenging time, but it’s also full of potential.
What’s next for your business? What can we expect to see over the next few years?
I’m currently building out a game-changing course, which I’ll be launching soon (check out my website for details). Essentially, this course will help you create a killer strategy to scale your business in the time you have. Then once you’ve defined your awesome, effective strategy, you’ll be guided through building a roadmap so that you can actually reach the outcomes you want.
What is the biggest lesson you have learned in 2020?
I loathe being a beginner, so I tend to stick to what I’m good at. Which is all well and good, until a global pandemic comes along, and you realize that sometimes being a beginner is a good thing, because who the heck wants to be a not-beginner at that!? So I’ve really focused on having a growth mindset, and it’s unlocked a lot for me.
What do you know now that you wish you knew when you were first starting your business?
Build your feedback loop. Personally, I need to get feedback (explicit or implicit) to stay motivated, so when I work on my business (and when I work with clients), it’s essential for me to bake feedback moments and small wins into the roadmap.
How have you managed to stay grounded this year?
I haven’t stayed grounded at all this year! Being a first time mom, starting my own business, and spending a lot of time cooped up, combined with everything that 2020 threw at us, is not a recipe for staying grounded. I’ve tried to focus on the many things I am grateful for, and given myself permission to be where I am.
Do you believe in work/life balance? What are some of your best tips?
I don’t believe in work/life balance, I believe in working to live. The best way to do that is to define what living a full life means to you, and then building a strategy to get there. (Yes, it always comes back to your strategy and your plan to execute it).
What’s something our audience would be surprised to learn about you?
Before I started, I promised myself that I would never be the type of person who “talks to herself” on Instagram stories. If you follow me on Instagram, you know that I show my face on stories…a lot. Thanks to an amazing social coach (Hi Bree!) I completely changed my perspective and realized how much I could unlock for my business and audience by showing up.
What are your top 3 tips to stay productive each day?
- Plan your week out. Know your key outcomes for the week, and slot them into your calendar.
- Focus on outcomes not to-dos.
- Don’t confuse working hard with working all the time.
What does being an Entreprenista mean to you?
Freedom is the most precious thing, and for me being an Entreprenista is my path to more freedom. I am so grateful for that, and I do the work that I do so that more people can experience that. Don’t let self-doubt or uncertainty be the reason you don’t build or scale your business. If you need help figuring out how you’ll get it done, I can help.