Teresia's Blog

Being self employed there is no such thing as maternity leave, at least not paid maternity leave. Well….that is not entirely true, if you are savvy enough to set your business up to create passive income, you could have paid maternity leave.  When we decided to start a family I became very motivated to have a passive income stream.  As I prepare for taking two months off completely from my business to be fully present as a new mom, I am taking some time to review my financial situation.  I have not quite reached my passive financial goals, but what I have created makes a difference!

Is it time for you to focus on passive income? If you are self employed why not incorporate passive income into your business plan.  Let’s first look at what is Passive Income? Passive income is money that comes in after you have completed working to get it.  It is income from work you have already performed versus work you are currently doing. Therefore, a passive income stream is a continued flow of income from a completed task.

One obvious source of passive income that illustrates the idea behind a passive income stream is a savings account.  You open a savings account with a certain amount of money, and that money gains interest as it sits there.  You never have to deposit any more money in order for that initial amount to continue earning interest for you.  Obviously the more money you deposit into the account, the more money you will make on it.

With access to the World Wide Web it opens up many options of passive income streams you can include in your business model.

Here are a few.

1. Affiliate Programs – passive income is derived from setting up a web site that pre-sell companies’ products or having other companies sell your products.

2. Information Products – ebooks, CD’s, books, ecourse, etc

3. Advertising commissions – on your website, newsletters or ezines.

4. Pay Per Click Campaigns – you can make money instantly by setting up a Google AdWords campaign for your product or affiliate program.

5. Referrals – create a network of people that offer services or products related to your business, set up an alliance where you receive a commission every time you refer someone.

6. Create a membership site – if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your membership site. Because you are an expert in your field, you can also recommend other products and services to your members, from which you earn commissions.

7. Have associates – having a team of people working for your company that you receive a percentage of their service fee. If you are a coach or a self employed professionals check out our Creating your own coaching company ebook on how to incorporate associates as part of your business.

These are just some ideas of possible passive income streams.  Get together and brainstorm with your mastermind team (you have a mastermind team – right? If not read our blogs on the power of being part of a mastermind team) and decide which passive stream would best compliment your business and enjoy the benefits of this extra income.

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Last night I went to my good friend and colleague, Cheryl Cran‘s  book launch.  I met Cheryl when she and I first started our  businesses – 15 years ago.  During this time she has written 4 books! Her latest “101 Ways to Make Generations X, Y and Zoomers Happy at Work.” Cheryl’s business is keynote speaking.  Being the past President of the Canadian Association for Public Speakers, she has been a leader and a strong role model for up and coming speakers.  Over the years many of my clients and fellow colleagues have had the dream of becoming authors.  I have been intrigued of the process of writing, publishing and marketing a book as well.

I pulled the star of the night aside and asked “what would you recommend to new authors who are considering having a book launch?”

Here is what she said: do not expect your book launch to a profitable event, it is not about selling your books. A book launch is a time to celebrate the success of completing your book, your excitement of sharing the message with others, acknowledging your support team, and officially claiming that you are an expert in your field.  In addition, a book launch is a great time to invite and connect with some of your key centers of influence, individuals who will be great “raving fans” , potential clients and any media contacts you may have”.

I left the event inspired by Cheryl’s accomplishments and the great networking that took place.  I was happy to witness that even though Cheryl’s outcome was not to make a profit a lot books left in the hands of guests.

When your book is published – treat yourself,  throw a book launch and relish in the celebration of your accomplishment!

To purchase Cheryl book visit http://www.101waystomakegenerationsxyandzoomershappyatwork.com/

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I have the pleasure of writing for the Vancouver Province paper in the Business section once a month, where I have the opportunity to address some questions and concerns that entrepreneurs have.

Here is how I answered the question I received about what traits are necessary to become a successful entrepreneur.

 The question and answer appeared in my latest Vancouver Province  feature on May 2.

I would love to hear your feedback.

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I hope you had a chance to join us as I interviewed Cheryl Cran, CSP on the Top Ten Tips for a Fantastic Keynote Speech yesterday, but if you didn’t, I invite you to take the opportunity to listen in on what you missed.

For those of you who did make it on the call, we trust you walked away with new ideas and inspired action.

For your files here is the recording

To take your keynote career to the next level, sign up for Cheryl’s special event “The Keynote Queen Retreat” on May 6/7- the first 10 who register will also get a 30 minutes pre-event call with Cheryl.

Register online at http://www.thekeynotequeen.com or email Dale Clarke at dale@thekeynotequeen.com

This 2 day retreat will cover how to put your keynote or speech together, how to market yourself with your elevator speech, how to make money from your speaking and much more……

As a review click here for Cheryl’s Top 10 Tips for a Fantastic Keynote Speech.

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This month I have gifted myself with a half day session with a consultant who will be supporting me in gaining clarity on my business projects for the next year. In May I will be spending four days with my mastermind team, masterminding around our personal and professional goals.

I don’t know about you but I love these kind of sessions, taking the time to be creative, thinking outside of the box, dreaming, it fills me up and continues to pull me towards my ultimate vision for  my life, not to mention when running a business it is important to build the habit of regularly taking time to debrief, plan and strategize about your top priorities. 

 As I prepare for these strategizing sessions I realize how critical the act of debriefing is.

Debriefing is a systematic process that gives you the opportunity to reflect on your experiences, activities, and past results and identify lessons learned.  In turn this enables you to gain the knowledge and insight to make more effective decisions and gain clarity on what has to happen to create what you want in your business.

 I have just spent the afternoon debriefing my business and I invite you to do the same.

 Debriefing can be used in many different ways.  You can debrief an activity; for example, you may debrief a presentation you just did, or after a client completes you may decide to debrief the coaching relationship.  I encourage my clients to make debriefing a regular part of “working on their business”. Debriefing your business at the end of each month will set you up with clarity and new insight for the next month’s priority projects.  Or you can debrief your whole business, just as I did to maximize my planning days.

 Debriefing can be a simple and fun process.  There are 8 categories to explore.  

1. Brief summary of the facts (objective only, no evaluations yet)

2. Key accomplishments (what, for you has been a key

accomplishment – look for little accomplishments, not just the big ones)

3. What has worked, or is working (please be specific)

4. What didn’t work or isn’t working (be more specific here)

5. What is missing (be most specific here – keep asking “what is missing such that that is missing,” driving it down until you get to a commitment, a priority or a structure . . . something that you have access to correct)

6. What opportunities do you now see (either new ones or to re-assert the one that may have already been there)

7. Where to from here (next action steps)

8. Anything else to complete the picture

 You may choose to do this process alone, or invite your virtual assistant to be part of it, or perhaps your coach or maybe your mastermind team. The key is make it a regular part of your business so that you set yourself up to leverage, maximize and capitalize on all your efforts and enjoy the results you truly desire for you and your business.

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Here are Cheryl Cran’s Top Ten Tips for a Fantastic Keynote Speech:

1. Have a sexy and compelling title – one that promises something new and enlightening

2. Be clear on the main message and make sure all points and stories are in sync

3. Keep your stories short, concise and to the point- why are you telling the story?

4. Balance your keynote with content, stories and humor think of it as a 33/33/33 ratio

5. Be clear on the action you want your audience to take- sign up for your coaching?

6. Build current data into your keynote what’s on the news? pop culture? city scoop?

7. Focus on the audience as being highly intelligent and highly informed- honor them

8. If you use Power Point or Mac Keynote keep your slides simple with pictures and very little text

9. If you are using music or video in your keynote test and practice a lot to ensure less chance of glitches on the day of delivery

10. Know your keynote so intimately that if technology were to fail you could shrug it off and continue a killer keynote without any support

Join us April 19th as we dive further into these top ten tips and get the inside scoop on savvy marketing strategies. To register, please click here.

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I get asked quite often “Teresia how did you build your business so quickly?”

In addition to a strong vision, passion and the willingness to step outside of my comfort zone on a regular basis, speaking is what catapulted the immediate success of my business.

In the beginning of my career I would speak to anyone who would invite me. I will never forget my very first talk. I recruited a friend (I am still indebted to her), bless her heart she spent a weekend with me (yes, the whole weekend) helping me construct my speech – we talked for hours about the secrets to success.

I spent countless hours making sure I had the perfect speech. Back then I was really frightened to speak in front of a crowd and fell into the trap that many of us do when stretching out of our comfort zone of over preparing. I am happy to say the talk was a success and I was well on my way to sharing the power of coaching and building a successful coaching business.

Fast forward 14 years of being a coach, many life lessons under my belt, the opportunity to learn from thousands of clients and now I am excited to be embarking on the journey of taking my speaking career to a new level. Today speaking is not only a marketing vehicle and a powerful way I can touch more lives but is also becoming a strong revenue generator for my business.

Part of my inspiration to take the art and business of speaking to a new level comes from working closely with my friend and partner of the Triple M Mastermind, Cheryl Cran. Cheryl is an author of 3 books, a consultant, a coach and a highly sought after keynote speaker. Cheryl has been speaking for 15 years and now shares her trade secrets with others. Cheryl offers a program called Your Keynote Coach with a special Keynote Queen event on May 6 & 7, 2010.

You know I am a proponent for not reinventing the wheel – (learn from someone who is getting the results you want). If you want to be an impactful, successful speaker, Cheryl is the one to learn from! I am excited to share that Cheryl will be joining me on April 19th for a FREE call where I will be interviewing her on what it really takes to be a successful speaker.

If you are a coach, a solopreneur, an entrepreneur or are already speaking, this call will be a catalyst for you to take your speaking to the next level.

Join us on Monday, April 19th at 5:30pm PST/8:30pm EST

To register, please click here.

Whether you plan to speak for free or for a fee or both you MUST have a solid speech that doesn’t just allow you to be up in front of an audience but that strategically helps you build your database, your client base and your revenues.

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A few years ago I had the opportunity to meet the editor of the Mompreneur magazine, Kathryn Bechthold, and I was very inspired by her vision of having a resource for moms who run businesses. I immediately wanted to get involved, and for the last three years I have been a regular writer for the publication.  Watch for my next article in the latest issue, on the newstands now.

It is one of the magazines I receive that I cannot wait to grab my tea, snuggle up and read from cover to cover.

Are you a mom? Are you an entrepreneur? If yes, then this magazine is a must for your regular reading.

Visit http://www.themompreneur.com  to get your bimonthly subscription and tap into all the resources available.

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 Did you know we have a day that celebrates women?

March 8, 2010 is International Women’s Day – The 2010 Theme is Progress for All.

International Women’s Day has been observed since in the early 1900′s, a time of great expansion and turbulence in the industrialized world that saw booming population growth and the rise of radical ideologies.

In the last few years of being a coach I have naturally been drawn to coaching more and more women. You may have read in past articles where I have alluded to the growth of women, how their success and contributions to the world has dramatically increased in the last two decades. Recent media articles have talked about “womenomics” the concept that male dominance in the workplace is being replaced by the fact that women account for 80% of all purchasing decisions and that women, may soon be primary breadwinners. Did you know that Canada is the fastest growing country for self employed professional women and it has tripled in the last two decades? In Canada one in 10 executives is a woman, and in the US one in five executives is a woman.

I am truly inspired! As women, we are truly stepping up to do it all! And………….. it is not always easy. In the spirit of ‘women supporting women’ I have most recently teamed up with a long time friend and colleague Cheryl Cran and we have launched a unique program for women entrepreneurs and leaders called Triple M Mastermind: Mind Money and a Life of meaning. This ongoing program is unique in its format in that a group of 8 women form a high level mastermind to assist each other in leadership and help those who own their own businesses, grow them to the next level. We believe that the next progress for all women is related to women supporting women to achieve bigger results. Celebrating women and their achievements in a non-competitive environment is a huge factor in the Triple M Mastermind and for women to create progress for all.

I have personally experienced through my own mastermind team and teaming up with other like-minded women, that the ability to receive help, collaborate and be in an supportive, non competitive environment that not only encourages, but demands thinking big, is a critical factor in women achieving success without a personal cost.

Today, on International Women’s Day, I celebrate the relationship I have with my mother, the sacred women friendships I have in my life, the women who are part of my TLC team, the inspiring, supportive business partnership I have with Cheryl and the all the women that I have had the honour of partnering up with as their coach, to witness their courage and commitment to live their best life.

Mom and I

Celebrating with friends

When women come together to support women, what I know for sure is that you get more done with less effort and it is a lot more fun!

“After just two sessions working with Teresia and Cheryl my whole business has turned around. I knew I needed help, I have always been successful but I had lost my confidence, my attitude was failing me and my business was slowly deteriorating. When I started working with Teresia and Cheryl I was so ready to get help and help is what they gave me. Just one month later my confidence is way up, business is pouring in. I am stronger, more capable and I have cleared the path to regaining my success. The combination of Teresia and Cheryl is dynamic. “

Adri Miller-Heckman

Want to double your results in half the time? Cheryl and Teresia offer Team coaching. Teresia LaRocque MCC coach and Cheryl Cran CSP consultant are two highly successful entrepreneurs both in business for over fifteen years. Team coaching with Teresia and Cheryl is unlike any coaching out there- you get the one-two power of two highly successful business professionals AND you get double the results.

To find out more about Triple M Mastermind or Team coaching email us at mastermind@teresia.com

Visit our Triple M Mastermind and be sure to join our community and receive a free monthly newsletter and instant access to an audio on the power of masterminding and how it is different than coaching.

We were featured on the Fanny Kiefer Show!

Cheryl Cran and I were guests on the Fanny Kiefer show  in January talking about our Triple M Mastermind Program. Check it out and hear about what is impacting women’s success in 2010.

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“We see the connections among women are the most potentially transforming forces on the planet.”
Teresia LaRocque and Cheryl Cran 

All my professional life I have been intrigued by the Power of We.  Being a solo entrepreneur I intuitively knew to create the experiences my heart desired and make the level of difference I was committed to making I could not do it alone. Since the inception of my business, I have started and been part of many groups, a few that have really have transformed my life are : The Author Circle, Cloudnine Mastermind; The Family of Women and my TLC team. 

Shared experiences touch us on the deepest levels.

When a “we” space is created:

• The “we space” builds an identity
• The space is “contained” by the agreements created, and the team is defined
• Well-being and ecology as a whole become both desired and practical
• Individual strengths surface that support the “we” outcomes
• A common purpose emerges and mutual interest is experienced
• Achievement and Celebration become more meaningful

These experiences has been the catalyst for expanding my coaching practice from a 1-1 coaching model to incorporating environments of “we” space such as team coaching for the teams of my entrepreneur and executive clients, also a different form of team coaching, where two coaches work with a client to provide dual perspectives and facilitating mastermind and group programs.  

With the rampant movement of what the media is calling “womenomics” (the concept that male dominance in the workplace is being replaced by the fact that women account for 80% of all purchasing decisions and that women may soon be primary breadwinners; In addition Canada is the fastest growing country for self employed professional women and it has tripled in the last two decades and In Canada one in 10 executives is a woman, and in the US one in five executives is a woman)  it has been a natural next step to ensure that women had access to one of the most strategic business tools available: being part of an innovative, unprecedented “we” space.  

There is a shift and we can all feel it- 2009 was a year that had many of us recognize the need to move more towards a ‘me to we’ approach in both life and in business.

Evolutionaries, philosophers, marketers and researchers are earmarking 2010 as the year that there will be recognition in business and life of the value of feminine attributes such as collaboration, support and connection. It is these values that especially women are looking for in their work and in their lives.  However, most women have gained success through the lone ranger mentality, doing it alone, garnering success for self and resisting support and collaboration. There is a new way of gaining success where women can leverage their time, let go of the lone ranger mentality and get results with ease and effortlessness.  Women are looking to do things differently based on their values to leverage and embrace success in a new more collaborative way.

2010 is the year to  leverage and embrace success in a new more collaborative way: enter the power of the mastermind; the shift from “me” to “we”; letting go of the “lone ranger” mentality. How would your life be different if you were part of a group of like minded people who had a common purpose and was committed to sharing resources, ideas, insights in a noncompetive environment?  What I know for sure is that it transforms lives!

Join us for the Triple “M” Mastermind program is the first of its kind to be held in Vancouver, B.C., starting February 26th, 2010.  Facilitated by Teresia and Cheryl . 

For more information and to sign up for our free info call on Feb 10th 2010 5:30 PM  Click HERE

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