Featured Solopreneur Kelly Newsome: “Lessons Annihilate Regrets”

This is “Featured Solopreneur,” an ongoing series that gives all of us a glimpse at how other solopreneurs operate their small businesses. Click Here to read more Solopreneur Success Stories.

The purpose of “Featured Soloist” is to give all of us a glimpse at how other solopreneurs operate their small businesses. This week we meet Kelly Newsome, who owns a yoga business in Washington, D.C. If you would like to be the “Featured Solopreneur,” please send me an e-mail, .

Name of solopreneur:
Kelly Newsome

Name of business and locaton:
Higher Ground Yoga; Washington, D.C.

Web site:
http://highergroundyoga.com

Type of business:
Health + wellness/personal yoga sessions

When did you officially go into business ?
November 2009

Why did you start your own business?
After working as an attorney for an NGO [nongovernmental organization], I decided that I might like nonprofit program work. I found the job hunt a little overwhelming, though. I had a few yoga certifications under my belt—something I’d done as a hobby, out of pure, random interest—so I figured I’d start teaching yoga privately to make some money while I navigated the application process. Being a business lawyer, I wanted to really created a solid business, though, not just teach haphazardly…so I did. And it worked. And I fell in love.

What was the best thing you did when you were starting up your business?
Two things:

1. Writing the copy for my Web site. For me, that process helped me define my brand, my business plan and model, my niche, my ideas. I had to really think about the message I was trying to say, to sell. It was also great practice in humility, creativity, brainstorming, and making changes when necessary.

2. I created a tribe of supportive people—friends, family, acquaintances, even kick-ass authors and bloggers I didn’t know personally, but read often to keep me going. And by supportive, I don’t mean people who agree all the time, but instead people who give you juice. I sometimes call it my “Juice Army.”

What is a mistake that you made that you have learned from?
Not hiring a bookkeeper. You hear it time and time again, and I still thought, “Oh, I’ll figure it out. I’ve read financial statements.” But I wasn’t as careful about bookkeeping in the beginning, and it took me a little while—and a lot of wine—to stay sane while sorting it out. Even a couple of hours with a professional bookkeeper (or Quickbooks expert) in the beginning would’ve been pretty helpful. You’re so busy keeping things afloat and getting money in the door that recordkeeping can easily fall by the wayside, even with a small baby biz.

What is your biggest current challenge in the business and what are doing to try to solve it?
Evolving it in order to create additional revenue and reach. My business model (i.e., service for time) clearly isn’t a cash cow, unless you have a lot of employees. For the first year, I was more concerned about getting it up and running. Now, I can focus more on cool stuff like specialized speaking gigs on health and wellness, especially for busy women, especially professionals and/or moms. I also spend a lot of time on continuing education in my field, and I’m considering a second business that offers a little passive income, as well.

What are your goals for the next 12 months?
Health + wellness speaking gigs (about, for instance, yoga addiction) with awesome companies across legal and other industries. A more comprehensive yoga offering for clients, like therapeutic work. A couple insanely fun, passport-required private yoga retreats planned (an option for my clients and their guests).

Where do you want to be with the business in five years?
In five years, I expect my private client base to be limited to a small, carefully-selected number, allowing me to spend the rest of my time doing something. Something awesome. It’s about all I know right now, and I’m O.K. with that.

What are your main software programs?
Site hosting: WordPress; finances: Quickbooks online; e-mail marketing: Mailchimp; documents: Microsoft Word for Mac

What lifestyle choices have you had to make to stay in business?
I live very simply and started saving a couple of years before starting my business (I didn’t know what I was saving for, just “something else.”) I work at home (and coffee shops) to eliminate office-space rent. I make sure to meet friends for drinks during happy hour specials. I shop less, travel less. But I live more.

What are your strategies for staying competitive?
Incredible product. Defined brand. And a couple of proprietary secrets.

Do you need a second household income to support your lifestyle? (Is the business primary or supplemental to the household?)
It’s primary income, but a second income will be a great addition.

If your business should fail, what is your fallback position?
Legal consulting is an option; I’d look in the nonprofit sphere ideally, because I love service work. If that doesn’t fly, though, I’d figure it out. If you work hard, act professionally, write well, and stay open to opportunity, someone’ll usually hire you, and there are lots of options if you’re open. Bartending. Nannying. Retail. Pizza delivery. I’m a hustler.

If you could start your career all over again, what would you do differently? Why?
Educationally, I probably would’ve done a joint MBA/JD program, instead of just law school (mostly for the connections with other like-minded people). I would’ve also lived simply sooner—I wasted a lot of money on nonessentials in my early days. There are 273 more things I could’ve done differently, but that really is your education. For me, the lessons annihilate the regrets.

What’s your advice for aspiring solopreneurs?
In no order and without limitation:

1. Create a true, unconditional community/tribe of supporters.

2. Get daily goodness from blogs/books that keep you motivated (I like Jonathan Fields, Chris Guillebeau, Pam Slim, and Pema Chodron).

3. Trust your instincts.

4. Keep a notebook at all times for random ideas, thoughts, conversations, and inspiration.

5. Make lots of to-do lists, preferably in said notebook; focus on the “A” and “B” priority items.

6. Remember that you’ll want to quit. More than once. When that happens, follow steps 1-5 again.

Are you glad you became a solopreneur?
Yes. It’s been one of the biggest challenges I’ve ever undertaken, and one of the best confidence-builders. It reminds me of when I was traveling around the world: you’ve got this map and some directions that may or may not be appropriately translated into your language, and you’re just out there. You go forward, you walk, or you get lost. Sometimes both. And every time you make it to your destination, there’s this feeling of success, relief, purpose, freedom, energy. You’re exhausted, but you’re usually exhausted from doing fiercely cool stuff.