A Catch Up with Danica Murphy
We sat down with Danica Murphy, Prism's founder and leader, to ask her a few questions about entrepreneurship and her journey so far. Danica is an internationally recognised expert in the areas of High-Performance Team Development, Executive Coaching, Training Design and Facilitation & Strategic Development. Danica specialises in facilitating executives and teams to bring business plans to life by engaging, coaching and developing the people who deliver them and has done so since she founded Prism in 2001.
Why did you decide to start your own business?
I have always been really energised by the “business buzz” and even as a child, I was always starting business endeavours. I had a newspaper route from the time I was 12 which was like running your own little business – you had to collect money, build relationships with your customers, buy the papers weekly from your distributor and keep track of all of that. I even ran monthly puppet shows in the neighbourhood for $1.00 a ticket. I like throwing my energy into building and growing things so starting a business was not really a big decision but a natural progression.
What advice would you give to someone just starting their own business?
I have had amazing mentors and leaders who encouraged me to think and act very autonomously. They gave me honest, straight feedback – especially when I messed up. My advice to anyone starting their own business is to make sure you have a “Board of Mentors” – people from across your network of life who can impart advice, challenge you and call you out when it is needed. I think it’s also important not to take it all too seriously… energy and fun are critical ingredients so make sure there is room them in your day, your plan and your business.
“I think it’s also important not to take it all too seriously… energy and fun are critical ingredients so make sure there is room them in your day, your plan and your business”
How does your business look different now versus when you first started?
I started as a “one-woman-band” and so my earning ceiling was determined by the number of hours I could work. Today, my business is scaling and depends on an amazing team who I trust to make the right decisions for our clients and our business.
What are the biggest challenges to being an entrepreneur?
Being really honest about what you don’t know and having a network of people who you can ask to point you in the right direction. Making sure to always prioritise relationship with clients, team members, competitors because it is through relationships that entrepreneurs learn and access new thinking.
How do you manage a work-life balance?
I don’t look at it this way… we get ONE life and I don’t want to chop it into pieces or halves. I see my work as component of my life – some days it is the biggest component, some days smaller. I am privileged to have the opportunities I have and to be able to do something I really enjoy so while some days may be better than others, every day I feel grateful for all the components of my life – that feels like balance to me.
“We get one life and I don’t want to chop it into pieces or halves. I see my work as component of my life - some days it is the biggest component, some days smaller”
How do you manage a team effectively?
I think managing starts with alignment- knowing who we are as a team, what we aim to do, and how we do that (who we are being as we are doing) sets the stage for high performance. Hiring people with curiosity and honesty to fuel frequent, constructive, candid conversations on how we can deliver on that stage better, what we have learned and how we own our mistakes are critical practices for me to model and live. And I also believe in generosity as a principle - so I don’t sweat the small stuff and believe that if I have set the stage correctly, hired a team smarter and better than me, then my role is to give the team what they need and get out of the way!
Danica is a licensed facilitator and coach and regularly speaks at conferences on organisational culture and change. If you would like to get in touch with Danica about her services please email info@prismlcc.com
