We were lucky to catch up with Stephanie Spence recently and have shared our conversation below.

Stephanie, thanks for taking the time to share your stories with us today We’d love to hear the backstory of how you established your own practice.

When I moved to a new city I knew I had the opportunity to reinvent myself. I went in a whole new direction. I decided to create a magazine publishing business in a market that I knew was slightly behind the city I was moving from. I knew all I had to do was stay ahead of the trend there and I’d be cutting edge. The good news was I was right. The challenging news was I knew nothing about publishing. First, let me establish that my company was incredibly successful, so much so that I was eventually given a “key to the city” by the mayor and governor of the state. I became a big fish in a small pond. If I can do it, anyone can.

What was my business plan? Make money, don’t lose money. No kidding. This was 25 years ago and although that might not seem relevant in a very different global marketplace, I would argue that determination, creativity, hard work, and NOT knowing what I was doing transcends all time. Let’s break it down:

Determination: I bought a computer (they were new at the time), I read the book, I taught myself how to work it. I found out that well-known big magazines were using a layout program called Quark: I took a class how to use it. I hired, very cheaply, an art director to do that for me.

Important to know: there was no “world wide web” when I started so research of any kind was very old school. Library, books, calling people on the phone, etc. This is a great big secret that many successful people will tell you: Most people have no clue what they’re doing. The look to people who have come before them, call and tell them you’re a fan of their work and ask for five minutes of their time for a couple of questions. Most really successful people will help you. Why? Because they were you at one point.

Creativity: Always embrace the uniqueness of you. I was simply me. One of the most succesful things I did was approach races (like Race For The Cure) and ask if I could (for free) post their race sign up info in my magazine. Not only was my logo on the top of every race t-shirt in town immediately by doing this service, but I felt good about helping people. The cool thing, too, was that all the other race sponsors saw my logo next to theirs. I became a great community partner immediately. I eventually approached each and every one of them to put an ad in my magazine and they all did. All of them.

Hard work: As an entrepreneur you must pick something you really love. I loved the wellness community. My magazine was called Health & Fitness. I surrounded myself with healthy, happy, people who were doing amazing things. My editorial focused on active participants. I didn’t cover major sports. There was TV for that. I was for the people, by the people. I ended up having 250 editorial contributors over 15 years and I only paid a cople of them. I wished I could have paid them all, but the value they received by being a contributor was huge – they got tons of business. Did I do advertorials – hell no. Everyone else did. It set me apart. I never promised an advertiser that I would do a “good story on them” if they advertised (unlike major newpapers, TV, etc.) – At the time I had no clue that 99% of the content you see in the world is paid for. Even the Forbes cover. Crazy, right? I worked every day of the week. Every day. When I went to races or events on the weekends I took my kids with me. In the beginning I even delivered magazines (till I could afford to hire someone) with the kids in car seats. It was simply a part of our life. In fact, at times, too much so – but I’m getting ahead of myself.

Not knowing what I was doing: It was awesome for the first ten years. When I first had a big agency call about a contract with Nike and ask for my media kit I said I would send it tomorrow. I hung up the phone and asked my art director what a media kit was. Looking back, it sounds rediculous – but not knowing allowed me to create things that were uniqe. There was always my upbeat, yet persistent, personality all over everything I did. That worked so well I eventually went statewide with the magazine, partnered with other regional magazines like myself and formed a national network, and co-created active.com. We bought all the Rock ‘n Roll Marathons, created many events, drove product launces in the market (hello in-line skating), and helped a lot of people with the over 30 charities I worked with statewide. I loved helping people, it filled me with such joy – and I needed that on the hard days (which there were many). Ultimately, you’ll have to remind yourself why you started in the first place.

I have tons of advice, but I believe that if you can embody an authentic, unique sense of understanding that if you are helping someone else somehow (like by reaching a unique audience, helping them solve a problem within their organization, and/or fill a need) then you’ll be successful. Did I mention that you need to be clear with yourself about your own unique definition of what success looks like? That’s huge. If you don’t know you’ll simply be driven by money and that’s always wrong. Why? Because I’ve made a ton of money (yes, had my own jet and multiple houses, chef, personal trainer, etc.) but money isn’t the thing that will make you happy. Yes, money brings choices to your life, but just more stuff won’t do it. The stuff is fun, but it won’t fill your soul with joy.

In the end I have millions of memories. Some of the bad: I had to get intellectual property lawyers to fight the two people who tried to steal my work. The good: I could pick up a phone and get an athlete a racing wheelchair. You have to figure out what drives you. You have to think big. You have to believe you have something that no one else does (you do, it’s you!). You have to exude confidence and calm through the many ups and downs. Try and remain humble. Help someone else: I continue to mentor people.

What would I have done differently? Only one thing. As a woman who’s husband (now ex-husband) did not participate in helping with our kids I would have hired more people to help me. At the time it seemed extravagant and I loved being the one to drive my kids to school, volunteer at their school, bring great opportunities to their life (like the time I had an astronaut and famous athlete come and speak at their school), but I should have built a strong network of support. As a female CEO I encourage you to keep your finances seperate and create anything you need to reach your full potential as a human. I set myself up for burnout big time. I thought I could do it all. It took a toll. I was emotionally and mentally exhausted towards the end. I should have built in time to rest and do whatever I need to fill myself up – without all the labels (mom, wife, daughter, friend, philanthropist, CEO, etc.) and just be me. We are human beings, not human doings. Just be you. If I can build a wildly successful business you can too. Just do it. You got this.

Since I sold my company: I traveled to over 60 countries, trekked to the top of Mount Kilimanjaro, became a published award-winning author, and am currently pursuing my Master’s Degree in Yoga Studies. I plan on going on and getting my doctorate. Life is short. Get to it. You are so much stronger than you know. To keep in touch go to stephaniespence.com.

Stephanie, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

Stephanie Spence has spent over 42 years practicing yoga and sharing her love of this ancient system of living through her writing, teaching, and public speaking. She’s known as a Yoga Scholar, Award-Winning Author, Former CEO, Activist, and Creative Leader. Her philosophy and approach to yoga is unique and powerful. Stephanie will convince you that yoga is for everyone and that anyone can do yoga. She’s happiest while helping others, traveling, practicing yoga in another language and spending time with her family at the beach near her home in Coronado, CA. Her book, “Yoga Wisdom: Warrior Tales Inspiring You On And Off Your Mat” is available on Amazon. She’s Stephanieyogini on most of the social media sites: currently, her favorite is TikTok. Connect with her on LinkedIn to stay in touch long term. Her goal is to speak before the United Nations and/or World Health Organization about access to yoga as a basic human right. You can also contact her through her website, stephaniespence.com. She’d love to hear what you’re passionate about and she loves knowing your story.

What’s been the most effective strategy for growing your clientele?

Help them solve a problem. Treat them as you wish to be treated. Use software tools to write down everything about them: for example I called everyone on their birthday. Not to offer anything, but just to say happy birthday. I can’t tell you how many people said, “Thank you so much, you’re the only person who remembered my birthday or the only person who called me today to say happy birthday!” I was what I was remembered for. Just be you. Be kind. Be your UNIQUE YOU.

How do you keep your team’s morale high?

I learned that I was awful at managing people. I was so exhausted from the hard stuff of running a business. Don’t make excuses, hire great people to do the things you’re awful at. If you take your ego out of it, you surround yourself with incredible people. It works! You all rise.

I maintained high morale by taking the whole staff white water rafting every year (or something fun like that), giving employees spa days, etc., and listening to what they needed – If they worked better from home, so what? If they needed time off to care for a loved one, of course! I made it work. I wanted happy, productive, REAL people in my organization. One time a deadbeat dad wasn’t paying his child support – I sent his ex-wife his check. Of course, he quit, but it set a standard. One employee couldn’t afford to repay his college loans: I did. I valued him. You have to decide what your values are. You have to decide what your ethos is. Your actions and behaviors have to match your words. Remember, some day your email box will be empty. You might have three or more different careers in your lifetime (since we’re all living so much longer) and time will march on. What do you want to be remembered for? I hope I’m remembered for helping a lot of people.

I spent a year of my life creating a benefit for a girlfriend of mine who had been murdered by her husband. We raised money and awareness about domestic violence. I got to call her mother and tell her we donated money in her daughter’s name. I figured out what was important. The “J O B” will be gone someday. How do you want to look back at your life? What do you want to remember about your time in business? Figure it out. I know you can. Good luck!

Contact Info:

• Website: stephaniespence.com
• Instagram: Stephanieyogini
• Facebook: I have four pages. Try searching stephaniespenceauthor.
• Linkedin: https://www.linkedin.com/in/stephanie-spence-30003110/
• Twitter: Stephanieyogini
• Youtube: N/A
• Yelp: N/A
• Other: TikTok: Stephanieyogini

Image Credits
Amy Goalen

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