We recently interviewed Beth Shaw, Founder and President of YogaFit Training Systems, the leader in Mind Body Education and largest training school for yoga instructors in North America.  An innovative educator, author and entrepreneur, Beth Shaw has more than 30 DVD’s and CD’s on the market, is internationally recognized as the premiere yoga trainer in the fitness industry and most recently has launched YogaFlair, a couture inspired line of eco-friendly, US manufactured fitness apparel.  Ms. Shaw is also known for her dedication to community service, which includes extensive animal rights advocacy and founding of the nonprofit organization Visionary Women in Fitness, which awards grants and scholarships to women in need.

Below is her show in archive.  Thanks Beth and Happy Passioneering!

As I’ve been interviewing nearly 100 passionate entrepreneurs (aka “passioneers”) over the past two months, I’ve heard many great ideas and suggestions for dream leaping. So I invite anyone who is feeling scared or discouraged about their own leap to consider the ten tips below from these passioneers, so you can move forward. If you have your own ideas or suggestions, please send them our way.

Tips for Leaping into Your Passions Fully

1. Don’t leave your day job, and have at least one year’s savings before you make the leap into your passions!
2. Take baby steps. A strong recommendation to make the leap by taking many little steps.
3. Face the fear…and do it anyway.  Every one of our guests has felt some fears around making their leap.  Their suggestion?  Don’t succumb and keep moving.
4. Surround yourself with positive people.  Ditch those who aren’t supportive or negative.  Fill your life with folks who respect and honor your path.
5. Vision your future.  Get very clear on what you want in your life and take the focus off of what you don’t want.
6. Prosperity is much more than material wealth.  It means friends, health, free time, and being your own boss!
7. Persevere regardless.  The road will get rocky, so when it does, take a deep breath and put one foot in front of the other.
8. Get used to the mystery.  You aren’t going to always know where you’re headed.  So best to release control and enjoy the ride!
9. Don’t go it alone.  Real success is achieved through other people, so learn to build community around you.
10. Go with the flow.  Following your passions can be tough, AND if you keep hitting a wall, perhaps it’s time to take another route. 

You can also reach us by contacting our website:  www.lifesparks-coaching.com or our radio show at http://www.blogtalkradio.com/passionsandpossibilities.  Thanks so much!!

What is your definition of prosperity? Is it based upon the size of your paycheck, your bank account, or your house? I have interviewed nearly 100 bold talented individuals who made the big leap successfully into their dreams (aka Passioneers (sm)) and have investigated their views on prosperity. Our Passioneers included entrepreneurs, artists, performers, writers, and athletes. Bottom line? Regardless of their prior jobs, incomes, or social status, these Passioneers unanimously indicated that their prosperity is much greater now than before their leap. Most importantly, their definition of prosperity expanded beyond materiality to encompass the five quality of life factors shown below.

1) “Prosperity = Having More Time for Me.” All of the interviewed Passioneers stated that they now have more time for themselves and others after making their leap. While some old-school entrepreneurs still believe in the myth of struggle, strife, and 70-hour work weeks, true Passioneers know that balance is critical, so they tend to be healthier and happier than their workaholic counterparts. Why? Because they spend more time in play, relaxation, working out, and self-care.

2) “Prosperity = More Time for Family and Friends.” In addition to making time for themselves, Passioneers make more time for their families, friends, and social activities. The most important reason for doing so is to “feel connected.” As one man put it, “That’s why we’re here.”

3) “Prosperity = Being My Own Boss.” Passioneers love being their own boss, which is a big impetus for many of them to leave their regular day jobs. Studies have shown that who you report to is one of the major factors in job satisfaction. Passioneers also recognize that there’s no such thing as a secure job anymore, regardless of how big your company is. Having been laid off twice from Corporate America, I can personally attest to the lack of job security, and the joy of being my own boss.

4) “Prosperity = Creating My Own Work Environment.” Passioneers adore being able to create their own work environments, wherever that may be. Passioneer Ken shares how much he loves hearing his 3-year old son wake up in the morning and the pitter-patter of his slippers as he wanders into this father’s office to kiss him good morning. Ken left a successful graphic arts career with a leading firm to become a solopreneur, and hasn’t looked back since.

5) “Prosperity = Making a Difference in the World MY WAY.” The real reason behind our Passioneers’ increased feeling of prosperity is their opportunity to express their passions in the world on their own terms. “A Passion is doing what you love every day,” said one Passioneer, adding, “It’s following your purpose and serving in your own unique way”. Another Passioneer, Shonika Proctor (http://www.teenentrepreneurblog.com/) describes a passion as being “what is good for you…it fulfills you, fascinates you, and intrigues you.”

So even if you end up making less income as you make the leap into your passions, the benefits are huge from doing what you love, having more time for yourself and others, and creating the work environment of your dreams. What are you waiting for?

Even during a recession, there are many opportunities to take your new ideas to market quickly and profitably.  Most entrepreneurs are overflowing with great ideas for new products and services.  So how do you screen these ideas so that they generate big profits in a relatively short time?  …Get started by answering these 5 questions.

1)  Who are my target customers, and what are their biggest needs? 

As you consider your new offering, do a brain dump on your target market, including demographics (e.g., age, income) and psychographics (e.g., attitudes, behaviors). Also consider the size of your target market, its growth rate, and current trends.  Fill in any big holes by conducting research online (e.g., FactFinder) at your local library’s business center, or by surveying current and potential customers.  You can deliver a short, user-friendly survey in person, by phone, or by using an online survey tool such as Survey Monkey.

2)  What benefits does my offering provide that meets these needs? 

There’s a big difference between “features” and “benefits”. A benefit is what your customers value about your offering and how it meets their needs.  In contrast, a feature is a fact-based aspect of your offering or what it does.  For example, you might provide the feature of 24/7 technical support for your new product.  However, the real benefit or WIIFM (What’s in it for me?) to your customers is comfort and convenience.  Make a list of your offering’s possible benefits and get feedback on it from a formal or informal group of customers. (See Entrepreneur.com’s distinction between features and benefits:  http://tinyurl.com/6k5w22 .)

3)  Who are my competitors and how do their offerings compare?

Take the time to assess your key competitors and any viable substitutes/alternatives to your offering.  Study their strengths, weaknesses, and how they meet the needs of your target market.  Try mystery shopping at your competitors’ websites, stores, phone lines, and by purchasing some of their offerings.  Obtaining customer feedback on your competition, via surveys or user groups, is essential.  Check out Wikipedia’s simple, powerful competitor framework. 

4)  What are my initial and ongoing costs?

Take into account what your new offering will cost from development through launch (i.e., your start-up costs), including research, development, testing, supplies, marketing & advertising, inventory, office/warehouse space, and training. Then consider your annual costs for ongoing sales and servicing.  Write these costs down, and discuss them with your business advisors, area experts, or colleagues to better understand your investment. 

5)  What are my expected annual sales? 

Write down your estimated annual sales from your new offering, including best, worst, and most-likely scenarios.  For example, if your estimated Year 1 sales are $25,000, you might add 50% for a best case scenario and subtract 50% for a worst case scenario.  Then, for a rough break-even analysis, calculate the number of product units or service hours to cover your start-up costs. You can also calculate the annual sales required to cover ongoing distribution, marketing, servicing and other costs.

A few tips:
*  Answering these questions may seem daunting, yet if you carve out focused time, you could do it in 1-2 weeks.  You’ll avoid costly mistakes and greatly increase your chances of a successful, profitable launch.

*  Write down the questions, answers, and your assumptions, as you work through them.  Documentation makes them more tangible and holds you accountable for follow-through.

* Create a dialogue with others about these questions.  Invite input and different perspectives, because the more open are your eyes, the less likely that you’ll be blindsided.

* Be trusting and smart with your new ideas. Carefully select with whom you’ll share them.  When in doubt, use confidentiality agreements.  Better safe than sorry!

* Try a mastermind group or other forum where you can share your new ideas and receive support, and accountability.  Look for our monthly Putting Passions into Action groups in Seattle (second Mondays of the month).

Happy Passioneering!