Nicole Walters will be hosting a small group mentorship session and roundtable discussion at WrapWomen’s Power Women Summit, the largest annual gathering of women in media and entertainment. With the theme “Inclusion 360,” the event will take place virtually December 8-10. Register now at wrapwomen.com/power-women-summit.
Before filming and launching my consulting firm Inherit Learning Company, I worked in corporate for over a decade. Now, I’m fortunate that I get to work with small business owners and everyday entrepreneurs to help them design profitable and purposeful brands.
I’ve noticed that working in corporate and entertainment are way more similar than one would think. Both are highly competitive and require long hours. You never seem to have enough budget and are always figuring out how to do more with less. And no different than the detailed itineraries my team and I put together for business trainings, you live by the run of show.
Regardless of how much money comes in, the level of acclaim, or the industry you find yourself in, there are some critical actions that I believe every boss must make if they want to realize their full potential. Whether you’re constructing a business or TV empire, if you want to create a legacy that lasts for generations, these five moves will make all the difference.
Know Your Numbers
It sounds simple, but when you’re building a sustainable business, it’s so important to keep a close eye on your numbers. Data should drive your decision-making in your business. By keeping track of the details, you can make wise decisions that are rooted in facts, not feelings. As a CEO, you should clearly understand how you arrived at those numbers and decipher what’s working and not working.
Be Present Wherever You Are
This tip may be counterintuitive to all of the advice out there, but work-life balance is unrealistic. There, I said it. You can’t balance it all. I see it all the time, particularly with women bosses who are striving to be everything to everybody only to end up exhausted and defeated. This whole “balance” thing is a level of perfection that no one can reach and having that expectation is a setup. Here’s what you can do: You can be present. If you’re with family, you need to be 100% attentive to what’s happening at home. The same goes for the office. We all have limited time and energy to juggle work, family and self-care. Most days, you’ll drop the ball on at least one of those things. And that’s OK. Forgive yourself for the long nights and missed moments. Take time when you need it. And above all, embrace the imbalance as part of the journey.
Don’t Try to Go at it Alone
The old adage “it’s lonely at the top” doesn’t have to be true. You need people to not only get to the top but to start there. It may seem like it’s easier, cheaper or quicker to “just do it yourself,” but this is a huge mistake. No business can grow or scale without the magic of a well-formed team. The best CEO needs a top-notch executive assistant to play gatekeeper and a strong staff to execute her vision. By bringing in a team of diverse people who have the right expertise, you not only get to hone in on the big picture, but you can gain insight and learn from their perspective.
It’s also important to connect with professionals who understand the trials and triumphs of business. That’s how you learn about potential opportunities as well as pitfalls to avoid. By participating in events like the Power Women Summit, you get to see and hear others’ experiences firsthand and realize you’re not alone.
Produce a solid product
A great product is the foundation. I truly believe that your gift will make room for you and that your provision lies in your purpose. However, you’ve got to invest in making sure you’re selling what people want, and that it does what it says it will do. The rest is marketing and visibility, and there isn’t enough of that in the world to make up for a no-good product. It takes time, but testing and tweaking over and over again comes with the territory.
Fight off the imposter syndrome
Anybody who’s been an entrepreneur or in entertainment knows that it can be a risky business. With that, comes a lot of fear and anxiety. That feeling that you’re not good enough, that you don’t deserve success, or that you lucked up is always lurking. This is a big one, especially for my girlbosses, particularly in male-dominated fields. Research has shown that women are more likely to deal with imposter syndrome. If you’re not vigilant, this can become a major distraction. Practice navigating through the negative talk and self-doubt instead of allowing it to stop you.
Nicole Walters is the star of “She’s the Boss,” an upcoming, unscripted family sitcom on USA Network. As the CEO of Inherit Learning Company, she uses proven corporate strategies and business principles to catapult barely-surviving companies into thriving enterprises. Viral videos of her juggling family and fortune have racked up over 30 million views online. For more, visit www.nicolewalters.com.