Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Denise Murtha Bachmann, Founder of Success with AI, located in Hockley, TX, USA.
What's your business, and who are your customers?
I help my clients, who are mid-size businesses, use all the data they are already collecting to cultivate culture, adopt and adapt artificially intelligent solutions, and improve selling techniques in this ever-changing digital age so they can differentiate themselves from their competition.
Tell us about yourself
I started my business for three reasons:
I truly want to create a movement to ensure that we are better educated about how to live successfully in this world of AI. There are many definitions and different ways that AI is impacting industries, but how do we apply all of that to our business? Businesses should be more successful in implementing their AI strategies than they are, and it comes down to practical use and education.
I have been selling in the technology space for over 20 years, with 15 or so of that in machine learning (ML) and AI. It is a space that is no longer in the future but is here. And there is so much more opportunity and exciting technologies that are going to change the way we live, and I love it. I am a nerdy new gadget kind of girl, so it excites me. And lastly,
I am truly good at building cultures, helping or mentoring people, and being an agent for change. I am passionate about it. So just opening my business and offering the services truly does make me happy every single day. I coach, consult, and speak, and I love getting in front of people.
What's your biggest accomplishment as a business owner?
What is my biggest accomplishment as a business owner? This may sound corny, but it isn't the clients or a KPI (key performance indicator), but rather that I have allowed doors to open for me, and I have been walking through them. Over the years, I have had so many doors that may have opened (meaning that I may not have been in a place or mindset to even see that they were doors open or open for me), and I didn't walk through them.
Maybe it was my mindset. Maybe the timing is off. Who knows. But I now have faith, being brave, and have changed my mindset to be open to them, see them more often, and actually walk through them. That is my biggest accomplishment. Seeing and walking through open doors have really paved the way for my success.
What's one of the hardest things that come with being a business owner?
The hardest thing that comes with being a business owner is there aren't enough lines available for me to even type that many out. Ha!! I'm just kidding. Most people would say that. But the reality for me is that I have been walking through so many doors that I have to stop now and think about whether the opposition is serving a purpose.
Does it make sense to me? I actually now have control over the opportunities that I take or don't take. The hardest thing for me is just trusting my gut. Coming from one extreme to the other, I have to find that middle ground.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
3 Important Tips that I think solo and entrepreneurs forget are...
- Make sure you know what your client wants. You may have them at x, y, and z, and because you are amazing at delivering all three of those, your potential client may only want x, and y; z doesn't mean anything to them. So why would they pay a premium price? Or why would you take them if they don't want the full package? You have to make that call. But make sure the value they are getting matches the price you are charging.
- If you realize that your pricing is actually too low (you are giving more time than you are getting paid for) or too high (not enough people are signing up), before you determine whether the price is truly too high or too low, review what you are offering for that price. In the case that no one is biting on the package because the price is too high, maybe that means you just offer a portion of the value so that you can turn it into a specific package for a specific value and charge accordingly. So, for example, using the scenario above, you realize that more and more people don't want to buy your package that includes x, y, and z because they only want x, so you break that off into a separate package and price it that way. Then you aren't really viewing it as the price is too low or too high, but you are evaluating and offering the price that matches a value.
- Be agile and continuously innovative. Innovating is defined as making changes to something established, especially by introducing new methods, ideas, or products. To stay ahead of your competition, innovate quickly by adapting to your client's needs, offering new products and services, and thinking outside the box, if necessary, on the fly.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.