Elizabeth Gordon has written the Sex and the City version of your basic business book with The Chic Entrepreneur. She shows you how to "put your business in higher heels" with sound advice and practical tips.
What I like most about this book is the way she contrasts different styles by using well-known businesses. For instance, do you want to be the Payless or Nordstrom business model? Both are viable business options, but they have very different markets. Same goes for grocery shopping at Wal-Mart versus Whole Foods. See where I'm going?
With easy-to-follow examples like this, you will be amazed at how fast you can pick up and apply the lessons she teaches.
Elizabeth was kind enough to answer some questions for Success Blog:
Betsy: In the somewhat casual Pacific Northwest, where we all love fleece and most people wear practical shoes, why should we aim for being chic in our businesses instead of comfortable?
Elizabeth: In business, your appearance is part of the message that you deliver to the marketplace telling the story of you. Appearances are more than just what you wear; they are about how you present yourself as a package deal. Whether they mean to or not people form impressions based on what they see.
The visual component of everything that your customers and employees see will influence how they perceive you as a vendor and as an employer, which will in turn directly affect profits and productivity, two key metrics in your business’ success. I advise people to ‘look chic’ so that they can be “comfortable” one day, as in enjoying the cash flow the business throws off without having to do all the work themselves.
If you build a business right and you create a powerful personal brand for yourself as the business owner, you’ve created leverage that you can then use to create an entity that runs without you.
The image you want to create is one that people can trust, respect and admire. To do that you have to dress and act that part of a leader in your field. Of course, you should look chic relative to your industry norms, which may allow for more fleece and clogs and fewer suits and stilettos, but it’s always important to remember that appearance does count.
You have to look good to get a good reputation. That said, once you’ve had a chance to really shine and have developed a solid reputation and reached a certain pinnacle of success; you have earned the right to do as you please to a certain extent. So once you’ve earned it, and really built up enough residual respect from the people you mingle with, show up to business meetings in a bathrobe, if you want.
Building a Business is all about putting in something now and ultimately getting something of greater value out at the other end. In the early days when you are still crafting a reputation for yourself, you do have to pay your dues but eventually you earn the right to dress down as comfortably as you like.
I had a client with a struggling software company. A mutual business acquaintance of ours once told me that this client looked like the IT technician and not the President of the company. The client thought that because her industry was software she could get away with polo shirts and rumpled jeans, but it was actually affecting how other people perceived her.
Betsy: Out of all the topics you’ve discussed in your book, which one seems to resonate most with your readers and why?
Elizabeth: The idea of building a business that ultimately runs without you has been brought up to me repeatedly by entrepreneurs that have read my book. Many of them have told me that they are doing all the work for their business and bought the book because they want a strategy for restructuring their strategy so that they can take themselves out of the workhorse role. Creating true freedom both economically and personally is why most people start a business, however, many, the vast majority, in fact, fall short of this objective. Luckily, it’s a problem that can be fixed by applying our flourishing business methodology as outlined in the book.
Betsy: Which chapter was hardest for you to write and why?
Elizabeth: Honestly, I wrote The Chic Entrepreneur in two months. I wrote it on such a tight timeline that I didn’t have the luxury to get ‘writers block,’ so ‘a loss for words’ was not really an option. People are continually amazed that I wrote it so quickly, but when you’re passionate about what you’re writing it just flows out of you.
It’s quite an interesting process when you really get in the zone of writing a book. It’s a real mix of creative and the linear thinking, which is why I believe it intrigues and challenges so many people.
I used my Flourishing Business Methodology (mentioned in the conclusion of the book) as the roadmap to address what I see as the fundamental challenge that many women and men entrepreneurs face. So I knew my beginning, my middle and my end.
With all the experience I’ve had working with women small business owners, I had so many stories to tell, it was easy to create tales that illustrated the themes in a way that women could relate. The tips came to be as little light bulbs of practical wisdom to pepper in throughout. And the How Chic Are You? Questions are there to help keep people committed to bringing out the best in themselves. Actually, it was hard to stop writing.
I kept thinking of new little tidbits I wanted to add in the final editing stages – one sentence here, a tip there. I finally knew it was time to stop when after reading one section, I thought of something I wanted to add and typed it. Then I read the next sentence in the manuscript and realized I had just written exactly what was already there. Then I knew I had said it all. And of course I have to thank my wonderful co-author, Leanna Adams. Our motto was “agree to agree” and because of that prearranged decision, we could crank that book out.
Betsy: The news keeps talking about layoffs, and I’ve noticed a steady increase of women who turn that into an opportunity to start a new business. Do you have any special advice for a woman “forced” into entrepreneurship?
Elizabeth: Even though you might be “forced” into entrepreneurship, you still have the freedom to choose what kind of business to build and there are right and wrong ways to start a business. My advice is to choose something you’re passionate about because the zeal you have for a business is what gets you through the tough spots (and there are plenty in entrepreneurship). And take care to have a focused strategy and a plan that includes all your financials - the money you have and the money you need to spend. It is quite common for things to take longer than you expect to really get of the ground, so making sure you have enough in savings to last you through the lean times will assure that you will have the staying power to play the game long enough in order to start enjoying some big wins.
Betsy: How does a married woman entrepreneur establish herself as a businesswoman apart from her husband? I often hear women say they cannot make a financial business decision without consulting the husband, even though he is not an active part of the business. Who should control the purse strings? And what kind of message does this send?
Elizabeth: Having a trusted partner whether it is a mate or just a good friend is great to use as a sounding board for advice. However, ultimately if you are The Chic Entrepreneur captaining this ship, you need to assert yourself as a leader and take charge. This means you take on the responsibility of making decisions for yourself and for your business.
I talk to many women who let fear of the unknown or fear of making a mistake paralyze them into indecision, and that is unfortunate. Because the true riches, the true success and satisfaction, all lie on the other side of fear, and can only be found and experienced when we wrap ourselves in courage and forge boldly forward toward what we believe to be right. More often than not I see the women in husband and wife teams holding the purse strings and managing the financial side of the business, however, there is no one right way.
Just as in forming any kind of business team, responsibilities should be divvied up based on skill and ability not gender. But there does need to be a clear leader on that team. Co – CEOs do not work. Women are just as capable as playing the leadership role as men, so if they are the better suited, they should sit in the driver’s seat. If the female partner is indeed the leader of the company, she needs to embrace the responsibilities that come with that owning that role. That means you understand your business, your market, your strategy and your numbers such that given a scenario, you can both ask for the feedback and advice of others, and make the final decision. Asserting yourself in this way may feel uncomfortable at first but with each time you do it, you’ll develop more confidence in yourself and in your decision-making ability. Soon when it comes time you for you to make the final decisions you’ll be able to easily lead the way and trust your gut – whether it’s girly or not.
If you want to become a Chic Entrepreneur, you can buy a copy of Elizabeth's book for about $10. Who knew the road to Chic was so cheap? Many thanks to Elizabeth for taking the time for our interview.
"I have never known a really chic woman whose appearance was not, in large part, an outward reflection of her inner self."
~ Mainbocher
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