Kizzy Parks – Who Benefits From the Advice You Get?

BIO: Kizzy Parks helps service-based small business owners learn how to win profitable federal government contracts using her powerful CTC technique.STORY: Kizzy learned of a $40 million opportunity to provide training and curriculum development across the federal government. She put everything else on hold and focused on preparing her business to win the project. She spent $600,000 on various business resources because she was sure she would win the project. The government didn’t put the project up for bidding to her disappointment, so she never got it and was left in debt.LEARNING: First, sell your product, then build it. Understand your advisor’s motivation and always think through and question advice given before you apply it. “You have to think about the intent behind the people who are cheering you along. What are they getting out of it?”Kizzy Parks Guest profileAs a kid, Kizzy Parks would clean golf balls in an alley behind her friend’s house and resell them through a fence to the nearby golfers and use the money to buy snacks.She always knew she’d become an entrepreneur and earn an advanced degree in psychology. Her entrepreneurial spirit meshed well with her inquisitive nature as an adopted child who always wanted to meet her birth family, which she eventually did. She started K. Parks Consulting over a decade ago and during that time earned a Ph.D. in psychology.Today, she owns and operates multiple businesses, and she has won more than $50 million in government contract awards. Through her business, GovCon Winners, she helps service-based small business owners learn HOW to win profitable federal government contracts using her powerful CTC technique.Worst investment everKizzy came across a $40 million opportunity to provide training and curriculum development across the federal government. At that time, Kizzy’s company provided work to the incumbent. But the word on the street was that they wanted to work with somebody else, but her mentors and advisors told her to go for it.Making sure she was ready for the winKizzy spent money on all types of resources on business development so that she could win this work. She even hired a business developer who kept pushing her on to go for the bid. Kizzy put everything else on hold and concentrated on winning this project.Kizzy started looking for facilitators and curriculum developers, and it was just piles upon piles of cash being spent toward this $40 million opportunity because she thought, well, why not? What is $600,000 compared to 40 million?Kizzy believed that she could do this because she was already doing the work. She was ready to take over the job from the incumbent.The disappointing outcomeAfter all the work she’d done and all the money she had spent building her business readiness for this government project, Kizzy found out that the federal government decided to go a different route. They weren’t going to put up the opportunity for competition.Kizzy ended up with team members that she didn’t need and $600,000 in debt.Lessons learnedDo not build before you sellIt may seem like the right thing to do is to build the perfect product first before you start selling. However, if you want to succeed, sell before you build. This allows you to test the market before you create the complete product.Understand your advisor’s motivationWhen someone is advising you, know what their motivation is. This will help you adjust what you’re hearing from that person. Think about the intent behind the people cheering you along or encouraging you to take that leap or get involved in that opportunity. What are they getting out of it? Some may just be advising you because they will get compensated for convincing you to take action. Others may simply be wanting to help you succeed.Andrew’s takeawaysThink for yourself even when receiving adviceJust because you have mentors, advisors, or coaches, you still have to stop, think, and question decisions. Don’t just take every piece of advice that you get and act on it. Think about it first, then decide. A good mentor, advisor, or coach will encourage you to think and not just push you along a line.Actionable adviceDo not put all your eggs in one basket. Make sure you have multiple revenue streams.No. 1 goal for the next 12 monthsKizzy’s number one goal for the next 12 months is to win another Guinness World Record. She recently set a record for the most skips of a rope while wearing flip flops in 60 seconds. She jumped 182 times. Her next goal is to throw a football 60 yards, and she just hired a throwing coach who was a quarterback for Notre Dame to help her set this record.Parting words “Everything is possible regardless of where you are in life.”Kizzy Parks [spp-transcript] Connect with Kizzy ParksLinkedInTwitterFacebookYouTubePodcastWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast