Episode Transcript
[00:00:07] You gotta be bold. This story gotta be told Own your fierceness gon and glow. This is Sonja Empowers show. Stay on go like a lion who on the prowl Sonja Sells help you get it. We doing it and doing it now.
[00:00:28] Hey Empowered disruptors. Welcome back to the Sonja Empowers show where I ignite your online business and help you own your fierceness, embrace your unique beauty, talents and strengths, rise above fear and step into your destiny as you build empires and shatter expectations together.
[00:00:54] Today, we're diving deep into a topic that can make even the most seasoned entrepreneur break a sweat risk.
[00:01:04] But we're not talking about reckless gambles. We're talking about strategic risk. The kind of calculated gamble that separates stagnant growth from explosive success.
[00:01:16] So I'm going to hit you with a hard hitting question right off the bat. Are you planning to safe in your business? Are you so cozy in your routine that you've forgotten the thrill of stretching, growing and pushing your boundaries?
[00:01:31] We hear quote unquote, play it safe and it sounds so appealing, right?
[00:01:36] Comfortable, predictable, secure. But I'm here to tell you comfortable and safe is a lie.
[00:01:45] It's a risk in disguise. It lulls you into this false sense of security until bam, your market shifts, a competitor, you know, your advanced colleagues innovates or your customer base starts to dwindle.
[00:02:04] Suddenly you're facing a much bigger risk. The risk of your entire business crumbling. And you're scrambling because you haven't began, been proactively adapting and growing. Think about it.
[00:02:20] Even a seemingly safe job can vanish overnight due to downsizing a company restructure or even a change in management.
[00:02:33] Where's the safety then?
[00:02:35] As entrepreneurs, we control our destiny. And that means embracing strategic risk.
[00:02:42] Okay, so I want to tell you a personal story. Now, every one in the world was somehow affected by Covid, okay?
[00:02:53] And it hit so many left field. Now, I have been working from home since 2017 and so it didn't affect me as far as like shifting from, you know, traditional work forced to working from home. I had to help just individuals that I knew to adjust to working from home.
[00:03:17] What I noticed was a lot of companies were not prepared. They didn't have a disaster plan in place concerning shifting an entire workforce to working from home. So it was a lot of stress and tension on some of these jobs that were not equipped to handle that.
[00:03:37] And so since I was already working from home, it really didn't affect me in that way. But clientele was slow for me. I self educated like I heavily self educated in 2020, the first part of 2020.
[00:03:51] And then summer, I was coaching clients and then out of the blue, an ex colleague was like, hey, you know, are you still doing executive assistant work? I'm working for this new company and this person needs an executive assistant. I've already highly recommended you. They're just waiting to talk to you.
[00:04:15] And I was like, I thought I was through with executive assistance, so of course I seek the Lord, you know, and it was, I was like nudged to move forward, you know, so I'm like, okay, thank you so much for recommending me. And I emailed this person, you know, like this ex colleague gave us an introduction and I was proactive and emailed him. And I was like, hey, thank you so much for reaching out, you know, like thinking of me. And I just like submitted my resume. I just kind of threw it out there, you know, since the ex colleague was so gracious enough to highly recommend me. And so after that, me and this potential, you know, I didn't know whether it was like a job. I didn't know whether it was a client. I really didn't know. I mean, I just didn't know. And so we began to talk back and forth, and he was like, hey, I'm not a waster of time. You've already came highly recommended. You have worked with quite a few people in the same arena that I work in. And he was like, when can you start? And I was like, okay.
[00:05:32] And I was like, well, you know, I'm wrapping up a project so I'm able to start. And I gave him a start date. And he was like, I said I could start then. And I was like, well, I'm in my head, I'm thinking we hadn't even discussed pay. And so he was like, what is your salary requirement? So when he says salary requirement, I was like, oh, this is a joke. But I was like, you know what?
[00:05:56] It can be, you know, an income that can pretty much, you know, serve to help me out with other business ventures, you know, business projects. I was like, okay, let's just see where this is going. So I was like, is he for real? So I just kind of threw a number out there, right? And this number was shy of making a six figure salary a year. He was like, oh my gosh, this is perfect. And there was. We did the paperwork and everything and I signed, I signed the job offer. Well, I quickly realized that I didn't want to be an employee. So I was like, you know, I had started, we was early in the game, and I was like, hey, can I switch? Switch to just being a 1099 contractor? And he was like, of course, not a problem. So whenever we had our one on one, he asked me, he said, you know, am I doing anything wrong? This and that? And I'm like, no, you're not doing anything wrong.
[00:07:01] My mindset is already that of an entrepreneur. You know, I've been an entrepreneur since 2017 outside of like one client that became a strategic employer so that I could purchase my first home. But outside of that, I was like, I'm an entrepreneur, you know. He was like, oh, I totally get it because I'm entrepreneur too. I haven't worked for anybody. And he just went telling his story and he became my dream client. He did not micromanage me. I got to set my own hours. You know, he was very teachable. It, it was, it was an amazing experience. I just felt like it was such a blessing. And then probably like since week three, I noticed that I was doing a lot of the work of an operations manager. Long story short, I end up being promoted to his operation manager. You know, the company loved me. I love the company. I was like, oh, my gosh. And then I began to work on a four day work week. So I was like, this is just too good to be true. And so with me being promoted to operations manager, I requested a salary increase and I threw out a number. So it was like a low six figure year salary. Now, mind you, I am not a low six figure salary concerning being an employee. This is me being like self employed. So I was like, oh my gosh, I found the golden ticket. He has no. You know, we've talked, we've talked about our professional goals over the next three years, which would have come with another promotion of being promoted to his coo, helping him, you know, keep an eye on one of his labs in Texas. It was because he worked in another state. It was like, this is it. Like, this is it. This is happening for me. And so I had the strategy to create multiple streams of income. Okay. And before I could really, like, the first thing I started doing was like, literally paying off debt. Like paying off debt. Because I'm like, well, I have a low six figure salary a year, so I was making really good money. I don't have any children, you know, and everything. It was just good. Life was not good. Life was great.
[00:09:19] But. And this was in 2021, so I didn't get affected by like covet in 2020 like that, but in 2021, unfortunately, it wasn't long after I got that promotion, right, have all my eggs in one basket with this client, because I felt like I had the golden ticket. And unfortunately, he had to either furlough or lay off all of his workers in his company.
[00:09:48] And because I was self employed, I had to be lay off, laid off. And it was a temporary layoff. And not only that, but he wasn't able to pay us, you know, like our last paycheck, like when we supposed to got paid that. That particular Friday.
[00:10:08] And so I was like, okay. And I'm telling y'all, it became so real for me. It was like business ventures that I had, projects that I had lined up. I wasn't able to do those. I had to back out of those. I had to cut business expenses, you know, and everything.
[00:10:24] I quickly began to run through my savings, you know, and everything, and it was devastating. I went through depression.
[00:10:36] I lost material things. I had. I ended up, over the course of like a year and a half or so, I maxed out every credit card. My credit score tanked. I mean, everything. And I'm sitting up here and I'm like, oh, wow. And then once, and I was ashamed. I was ashamed. I was embarrassed and everything. And I remember just praying to God, like, I'm being very vulnerable right now because I know this is going to help someone. And I began to really pray to God, you know, Jesus Christ, father, to help me make it through it.
[00:11:12] My now husband at that time, we were courting, you know, he kept encouraging me and supporting me as much as he could and everything. But I was a big girl, you know, I had stepped into a big role. I was. I was like doing that thing, you know, And I just kept asking God, like, lord, please don't let me lose my home. Which I didn't lose my home. And I bless God, but the material things, you know, my. My good credit score, you know, I had a nice vehicle, all of that, you know, I had to start making hard choices. Okay, do like, am I going to buy groceries or am I going to do this? You know, so before I knew it, all that nice material stuff was gone. You know, car, repo, credit score tanked. You know, I'm sitting up here applying for regular jobs. I'm too qualified, you know, I'm too. I'm like overly qualified for jobs.
[00:12:09] Remember, I come from like a small country town, maybe about 7,000 people.
[00:12:15] And so most jobs around here is like fast food, you know, maybe working at a local Walmart. I couldn't qualify for those types of Jobs. So I'm trying to, you know, apply for, you know, going back to what I knew, how I got started, which was as a virtual assistant.
[00:12:37] I started applying for all types of virtual assistant jobs. No one was hiring me. Like, nobody was. I wasn't getting interviews or nothing. It was crazy. And so during that time, it. It allowed me to do soul searching, and it allowed me to.
[00:12:52] During that time, I had a great support network, spiritually, emotionally, financially at times. And I remember telling myself that now I got to start over at the bottom. And it was devastating for me because I'm very humble. I'm not a flashy person. If you met me, you would have never known that I was making money like that. I was just living an humble life in that small town and helping people as the Lord led me. And I got hit, and it was a shock. And then I had to hear, you know, people that were close to me, once they found out, you know, it was like, oh, that's scary. You know, that's why I don't see how people can be in business, you know? You know, that's why, you know, people just need to get a job where security. I'm like, there's no job security out there. If you think sitting, you know, in a cubicle, working your 8 to 5 or. Or whatever, even in the medical field, because that's what I was told. Oh, job security. Medical field is job, you know, working for law enforcement. If you really think job security really exists like that, I hope that Covid taught all of us that it doesn't. There were people who had careers and everything, but they had different views about things, and they lost their job. They got fired. You know, I was hearing story after story, and I was like, you know what? There's no job security. And so I wasn't going to allow people to put fear in me with this minor setback to keep me from jumping back in the game in due season.
[00:14:35] And so that was a 2021, and then I would say about 2022, that's when I contracted my services with a virtual assistant company. And boom, I'm right back in the game, rebuilding. But during that time where I was on pause and I lost everything, I'm telling almost everything, it put things into perspective for me. And I remember telling myself that there will never be another time in my life where I spend more time working on someone else dream than my own. I was like, there's too much in me to not take a risk on my dreams, on my vision, okay?
[00:15:23] And I was Like, I don't care how long it takes, I am going to birth out my businesses again in greatness and I'm going to own that fierceness and I'm going to come on the scene as a disruptor and I am going to help disrupt this thought pattern that people have that's keeping them stagnant, that's keeping them from moving forward, that's keeping them from ever having the courage to go after their dreams. Okay? I'd rather be a courageous person that go after my dreams and they fail than be a coward and never pursue them.
[00:16:04] So with that being said, with some hard work diving deep, whenever it came for me to shift and change my business model, not only, you know, did I shift from doing 100% service based work, but I changed my business model to where I do 80% leverage income. Leverage income such as coming from digital products like affirmation cards, workbooks, planners, digital products of that nature. And that's where Chocolate Drop Inspired was birthed out. But I also came back and launched bigger than ever.
[00:16:49] Sonja Sells enterprises to where it's an entrepreneurial training company, to where we really desire to help emerging entrepreneurs increase their, their impact and their influence. And I took that time to start creating, you know, courses and training products. A lot of them I hadn't even came out with yet. And then, not only that, one of my dreams for years had been to start a podcast. And I finally just got the courage and here it is, I have a podcast and people are loving it. And then I took on the stage as an empowerment speaker.
[00:17:28] And from 2022, like I said, 2022, 2023, I really just did just service based work, you know, and then I was like, okay, 2024, I have to change up the game because I made a promise to myself that I would not just depend on one stream of income, you know, I desire. I decided to take a strategic risk, okay, and launch two businesses at one time. So I birthed out twins, y'all.
[00:18:05] And I'm telling you all, I just took that leap of faith and launched two businesses at one time in that was November.
[00:18:17] And then two weeks later, I think it was almost two weeks later, I launched the podcast. And so that was all in the fourth quarter of 2024. And already people are taking notice. You know, I'm literally having to sift through opportunities that come my way. And it's like, I'm not trying to just jump on all opportunities, but I'm being strategic with the risk that I'm taking. You know, concerning These collaborative partnerships that are coming my way.
[00:18:50] So with that being said, I really hope me taking that extra time to share my journey like so many people. Wait, like five years from now, 10 years from now, 20 years from now. Kid you not then they want to tell you their story and this and that once they hit millionaire status. No, I want you to know and I want you to feel what it's really like, this entrepreneurial journey. It is not at the. It's not for the faint at heart.
[00:19:19] You're going to put your whole heart, your whole soul, your whole mind, all your energy into birthing out that greatness. Okay, so embrace the setbacks, but also embrace strategic risk. Okay, so how does taking strategic risk catapult your business? Okay, so let's break it down. 1. Fueling innovation. Comfort zones kill creativity.
[00:19:52] They breed complacency. Okay, you've just created a self made prison. Let's be real.
[00:20:01] Calculated risks allow you to explore uncharted territory, experiment with new ideas and discover groundbreaking solutions that set you apart from the competition. You know, advanced colleagues. Think about the entrepreneurs who revolutionized their entire industry. Steve Jobs, Sarah Blakely, Elon Musk. Whether you love them or hate them, the point being is they separated themselves from what who they perceive were their competition.
[00:20:34] They didn't get there by playing it safe. They took calculated risk on their vision, their products and their strategies. They dare to be. That's something different.
[00:20:45] 2. Accelerated growth. Incremental improvements are good, but sometimes you need a bold move to truly scale. This might involve launching a new product line, expanding into a new market, investing in cutting edge technology, or even acquiring another business. Yep, that is an option. You don't always have to build a business from scratch. Sometimes you can acquire a business.
[00:21:10] These moves carry risk, yes, but the potential rewards are exponential. Imagine the potential of tripling your revenue in a year versus incrementally.
[00:21:23] Excuse me, increasing it by just 5%.
[00:21:26] That's the power of strategic risk.
[00:21:29] 3. Building resilience. Every risk you take, whether it pays off or not, teaches you something invaluable. You learn from your setbacks, you adapt to challenges and you become unbreakable.
[00:21:44] This resilience is absolutely essential for long term entrepreneurial success.
[00:21:51] Think of it like building muscle. You have to stress the muscle to make it stronger, right?
[00:21:57] The same applies to your business.
[00:22:00] 4.
[00:22:02] Attracting opportunities. When you're willing to take calculated risks, you radiate confidence, vision and a bring it on attitude. This attracts investors, partners and customers who are drawn to your dynamic energy and forward thinking approach. They see you as a leader. Someone who's not afraid to take chances and push boundaries. This magnetism can open doors you never even imagined.
[00:22:36] 5. Dominating your market. By being proactive and innovative, you become a leader, not a follower. You're not just reacting to market trends, you're creating them. This allows you to capture a larger market share and build an unshakable competitive edge. You become the go to brand, the one everyone else is trying to emulate.
[00:23:05] Now, I'm not saying throw caution to the wind and gamble everything on a whim.
[00:23:10] Strategic risk is calculated risk. It's about carefully assessing the potential rewards and downsides, weighing your options and making informed decisions. It's about minimizing the downside while maximizing the upside. Is about doing your due diligence, researching your market and understanding your numbers. It's about having a plan B and even a plan C.
[00:23:38] All right y'all, I know this episode is jam packed, but you already know what time it is. Yep, it is time for your fab assignment. Your fierce action breakthrough assignment. Here we go. 1. Identify your quote unquote safe zone trap. Really dig deep here. Pinpoint one area in your business where you've been planted to safe. Is it your marketing strategy? Your pricing?
[00:24:11] That's a biggie. That's a big one. I see your product development.
[00:24:16] Be honest with yourself. What's that one thing you've been wanting to try?
[00:24:22] Maybe a new social media platform? Hey, I just jumped on a YouTube bandwagon.
[00:24:29] A higher price point, A completely new product line but have been hesitant to do.
[00:24:37] 2. Risk versus reward reality check.
[00:24:42] This is where you put on your analytical hat.
[00:24:47] Analyze the potential risk and rewards of this move. Be brutally honest. What's the absolute worst that can happen? Could you lose money? Could your reputation be damaged? And then flip the coin. What's the best? Could you significantly increase your revenue? Could you reach a new target audience? Could you establish yourself as a thought leader?
[00:25:14] Quantify these potential outcomes as much as possible.
[00:25:21] 3.
[00:25:22] Craft your conquer plan.
[00:25:26] Develop a detailed plan of action. Break the risk into smaller, manageable steps. Don't try to do everything at once. Set, clear, measurable, achievable, relevant and time bound. Yes, you got it. Smart goals and unwavering deadlines. Who do you need to help you? What resources do you need?
[00:25:48] What research do you need to conduct?
[00:25:52] 4. Mitigate and manage.
[00:25:55] How can you minimize the potential downsides? Can you get feedback from trusted advisors? Can you start small and test the waters before going all in? Can you create a contingency plan in case things don't go as expected.
[00:26:12] And finally, number five, take the leap fearlessly. This is the most challenging part, but it's also the most important.
[00:26:24] Don't let fear paralyze you. Remember, the biggest risk of all is not taking any risks. Embrace the discomfort, the uncertainty, and the possibility of failure. Because on the other side of that fear lies incredible growth and opportunity.
[00:26:46] That's it for today's episode of the Sonja Empowers Show. I hope this fires you up to embrace strategic risk and propel your business to the stratosphere. Remember, the path to extraordinary success isn't paved with comfort and safety. It's the bold moves, the calculated risks that unlock the greatest rewards. I'm telling you, it is not a cliche. Your setbacks can help propel you for your greatest comeback.
[00:27:22] Now go out there and take some smart risks. Empowered Disruptors yes, you. Thank you for tuning in to this episode of the Sonja Empowers Show. I love to hear your feedback. Leave a review on your favorite podcast platform. Connect with me on social media @ Sonja Sells. If you enjoyed this episode, please like share and subscribe. Let's spread the empowerment, y'all.
[00:27:50] For more business empowerment resources, visit SonjaSells.com and for additional resources on personal growth and Inspiration, visit chakeletdrapinspired.com until next time, Empowered Disruptors Break free. Be fierce.
