Vulnerability Equals Profitability by Lisa H. Thomas
The latest catchphrase making the rounds in my circle of friends is “ain’t nobody got time for blowing bubbles.” It’s a fun yet sometimes sarcastic way of saying “crying or any form of vulnerability is for the birds.”
Hiding our feminine softer side or apologizing for it seems to show up when women reach a level of success.
We don’t want anyone to know we’re afraid or less confident than we say we are. We believe that showing sensitivity or vulnerability can have an adverse effect on the business if we display too much emotion. Of course, the truth is we all fall short of having all the answers. In the many roles we play, we do crumble at times. We do cry and end up vulnerable. The moment it happens however, we don’t think about how much power we have. The key lies in how we access power and turn vulnerability into an asset.
Recently, I had a client approach me for coaching on how to deal with “mommy guilt”—being a business owner had its demands and left little time for her child and being a good mom.
She had a business partner but had relinquished too much of her own vision in her efforts to be a good partner. The passion that she once felt for her wealth practice was dying. She knew that she had a bigger vision and greater purpose as a leader of her own business but had become comfortable and complacent. She also knew that if she were to strike out on her own, she’d have to get off her “assets”, break a sweat and really make it happen.
The fear of losing clients, a few staff, buying him out and being forced to work from a smaller officer were at the core of her concerns. Recognizing her feelings of guilt and fear was one thing but taking responsibility for herself and taking action to conquer them was quite another. She cried a lot at night about the thought of breaking away from a partner with whom she had a long-standing relationship, the guilt she felt about her lack of time spent with her son and fear of actually building a practice solo.
When you are as powerful as she is, being honest about your feelings takes courage. No one really wants to admit some hidden softer side.
So, I asked her “what’s the worst that could happen?”
She replied, “I could have the practice that I’m envisioning.”
Working together, we came up with a plan of how to address her issues of fear, being less confident and working through a transition period. I knew if we could work through the emotions behind her hidden vulnerabilities and create a strategic plan for success, she would not only experience bliss in everyday life but could also increase profitability.
So here’s where we began:
Admittance – The first step was admitting the fear of losing something: clients, reputation, revenue, or personal relationships.
Acceptance – Accepting that those things could occur.
Responsibility – Owning the outcome of whatever happened. I had the client repeat the phrase "I am responsible for my life, my business and my success or lack thereof and no one else is."
A New Vision – Together, we determined the vision for what she really wanted.
Strategic Plan – We wrote a plan and actionable steps to get her where she wanted to be.
As a business strategist, my job is to coach in critical thinking and consult to produce results. So, I challenged her current perspective to bring more clarity to what she wanted and how she could have it. We forged ahead each week by following the plan and holding her accountable to execute.
Her vision and passion drove these results home. She’s now the owner of a wealth management boutique with a bold vision to engage, educate and empower people to have meaningful financial success. Her new office is twice the size of the office she shared with a business partner. She added two more staff members, mentored college students during the summer and built a strong brand.
In less than 9 months she has a $24 million increase in Assets Under Management, a nearly 30% increase in reoccurring revenue and a new line of business that generated $400,000 in revenue.
She’s more innovative in her approach. She stands a bit taller when communicating the vision, mission, and core values of the company.
And yes, she spends more time with her child, enjoying movies, games and play-dates together. They’re both happier than ever.
I’m proud of what she’s accomplished. She’s a force to be reckoned with and is blazing a trail in the next phase of her career.
If she had not been vulnerable to share her concerns and her vision, she may still be stuck with a partner, but she chose differently. Vulnerability was and still is one of her greatest assets that she can tap into at any time. Afterall, it impacted her life and her bottom line.
Ha! Blowing bubbles ain’t such a bad idea!!!!
Lisa H. Thomas
CEO & Founder