Profit Is A Choice: Recent Episodes
Michele Williams | Business Coach | Podcaster |Speaker
Owning every choice in your business is not for the faint of heart. Each Monday, join Michele Williams, strategic profitability coach for the interior design industry as she interviews guests who are taking control of their business one decision at a time to increase their profits. If you are an entrepreneur who wants to make money while working in your passion, this is the podcast for you.
287: The Hidden Costs of Winging It in Your Design Business In this episode, we unpack the hidden costs of winging it in your design business. Michele shares why flying by the seat of your pants can lead to burnout, missed opportunities, and financial messes. She dives into the power of intentional planning, strategic hiring, and clear marketing—all rooted in a strong, future-focused vision. If you're ready to stop guessing and start growing, this one's for you.
Topics Mentioned: * Missed Opportunities * Peace * Process * Being Intentional
Key Thoughts: * When I was winging it, I realized there was a huge cost to me, to my peace, to my time, and certainly to my money. Michele Williams * We're working on the wrong initiatives, the wrong plans, and things that might support us in the short term, but not in the long term. Michele Williams * I would like to work with an intentionality on where I'm going, what I'm doing, who I'm doing with, and how I'm going to show up in the world, because that brings me peace. Michele Williams * The goal here is to really be able to have an intentionality in what we are doing so that as we do it, we know that we are checking off those tasks and those goals that are moving us closer to the business that we want to become. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * CFO2Go * Metrique Solutions * How to Build, Manage, and Execute on a Business Strategy course beginning August 2025 sign up now! * FREEStep-by-Step Guide to Mapping Your Business Growth
286: Profitability of Working with a Family Member On today’s episode, we’re joined by Beth Meyer and Abby McLane of Beth Meyer Design, a mother-daughter team specializing in luxury residential interiors. Featured in Southern Home and LUXE, they’ve built a trusted brand through elegant design and smart business growth. We’ll explore how they started working together, their approach to profitability, and the benefits of running a family-based interior design business. If you're looking for real strategies to grow your design firm, this one’s for you.
Topics Mentioned: * Strategy * Organization * Technology
Key Thoughts: * That was the whole reason I started the coaching practice as having come from burnout myself. When I get those calls, my heart feels for that, because I've been there, and I know what that feels like. The exhaustion and the mental load and the emotional turmoil, it's real and it's heavy. Michele Williams * I went back to the strategic plan where we are in structuring the company and roles and SOPs. You're giving them the tools they need to do their job well. You're not just giving them expectations that they really can’t meet. Beth Meyer * There is something about your daughter or your mom in the business having your back in a different way that gives you the courage to continually push forward. So not only does iron sharpen iron to keep each other accountable and focused and better and growing and all the things, but there is something about the courage that one person lends to another person to move forward. Michele Williams * Our goals are the same and we have done a deep dive into our missions, our values, and all the things. When we are both pushing each other, it's built-in accountability to reach those goals. Abby McLane
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Beth and Abby: * Email: abby@bethmeyerdesign.com * Facebook: @bethmeyerdesign * Instagram: @bethmeyerdesign * Website: https://bethmeyerdesign.com/ * You Tube: Beth Meyer Design
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * CFO2Go * Metrique Solutions * How to Build, Manage, and Execute on a Business Strategy course beginning August 2025 sign up now!
Click here to read the transcript for this episode.
285: The Top 5 Profit Drains in Your Interior Design Business Welcome to the podcast! Today, we’re diving into the five biggest profit drains that can silently sabotage your interior design business. If you’ve ever wondered where your money is going or why your profit margins aren’t where they should be, this episode is for you. Grab a pen and paper—because you’ll want to take notes on how to boost profitability and take control of your money management starting today.
Topics Mentioned: * Pricing
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Financials
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Ideal Client
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Managing Cash Flow Effectively
Key Thoughts: * You cannot sell more of something at a really bad price and continue to make money, a bad price is a bad price. Michele Williams * An ideal client is somebody who has the same value statements that we are coming in with as the company and there's a value continuance between us and that client. Michele Williams * The more we're fighting people, processes, or not knowing what the numbers are, the more it's going to cost us the profits and the money, but also the profitability of peace in our lives. Michele Williams * Know how money comes in, know how revenues are recognized, know how profit is recognized, and know when you need those funds. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * CFO2Go * Metrique Solutions * Metrique Solutions - Free Month Promo Code * How to Build, Manage, and Execute on a Business Strategy course beginning August 2025 sign up now! * Profit First by Mike Michalowicz
284: The Hidden Costs of Employment s Joining me is Jessica Harling, founder of Behind the Design. Jessica is a seasoned expert in employee and process development, specializing in recruitment, training, and change management for design organizations. Her work helps businesses streamline costs, increase productivity, and develop high-performing teams. In this episode, we'll discuss practical business strategies for interior designers for effective hiring, onboarding, and retention to ensure your team thrives. Enjoy the conversation!
Topics Mentioned: * Employment * Strategy * Accountability * Employee Training
Key Thoughts: * Fears are normal. How we analyze them and deal with them is determinate based on the strategy that we have for our business. Michele Williams * You still need, as the manager, the owner, to be able to either prepare or have an oversight over that plan and not just delegate or dump it to another person and not know what they are covering. Jessca Harling * We're not executing with success. We're executing within the moments of the day, and what feels good today, but today's feel good might not line up with tomorrow's plan and goal. Michele Williams * Look at the strategy of the process, the finances and things like that before you make a reactive decision to jump and add someone on. Jessica Harling
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jessica: * Email: jessica@gobehindthedesign.com * Facebook: @BehindtheDesign * Instagram: @GoBehindtheDesign * Website: GoBehindTheDesign.com * LinkedIn: @BehindTheDesign
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * CFO2Go
283: Implementing Profit First with Success Welcome to the podcast! Today, we’re talking about Profit First—a powerful money management system that is proven to boost interior design business profit. If you're making money but never seem to keep it, or constantly juggling funds, you're not alone.
We’ll show you how Profit First helps you separate money with purpose, avoid the “robbing Peter to pay Paul” cycle, and make smarter financial decisions. Whether you're just launching or scaling your design business, this episode is packed with strategies to help you pay yourself first and grow a more profitable interior design business.
Topics Mentioned: * Profit First * Money Management * Sustainability * Financial Strategy
Key Thoughts: * What Profit First is really trying to do is put you in the mindset that we want the business to live within the means of what the business can afford to live in, so that we're not spending money that the business truly doesn't have. Michele Williams * It is being able to separate out your money into bank accounts where it can then be looked at in smaller chunks with a purpose in mind, so that we're not overspending on the wrong things. Michele Williams * The more that we can plan for profit and be very clear on where the money is coming in and going out, the more that we have the power to actually use those numbers to move us forward. Michele Williams * The very first thing is to truly understand how money flows in and out of your business, and that means the amount, the timing, and the revenue recognition. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * Master Your Profit course * Profit First by Mike Michalowicz * Profit is a Choice episode 248: All Roads Can Lead to Profit * Profit is a Choice episode 189: Reviewing Your Profit First Strategy * Profit is a Choice episode 092: How to Start Profit First with No Profit in Your Design Business * A Well-Designed Business-The Power Talk Friday Experts by LuAnn Nigara
282: Design Mentorship for Beginners Welcome to today's episode. I’m thrilled to have Rebecca Ward with me. Rebecca is an award-winning interior designer based out of Sacramento, California, and she’s truly dedicated to nurturing emerging talent in the design industry. Not only does she host the Design Curious podcast, but she also runs a mentorship program called My Design Mentor. Rebecca focuses on answering those essential early questions for anyone looking to build their business in interior design. In this episode, we’ll discuss the many paths people take into the industry and the common questions new designers face as they start their careers. Tune in for valuable insights on how to kickstart your journey and make smarter business decisions in interior design. I hope you enjoy our conversation!
Topics Mentioned: * Mentorship
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Community
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Sharing information
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Support
Key Thoughts: * Those hard lessons sometimes are the best lessons that are getting our attention. They're sometimes painful along the way. Michele Williams * I see mentorship as this is something that I'm still actively doing. I'm still learning in my business. I'm still learning the best way to do things, and as I do it, I adjust, and I share that information. Rebecca Ward * I think when you really love people, it's easier to be willing to want to help and to give than to say, well, I fell, so it's normal you fall. Michele Williams * There are a lot of hard things and I want to make sure people are aware of going in with their eyes wide open before they get into the career, but I also talk about the great parts of it, but I want them to have a realistic view. Rebecca Ward
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Rebecca: * Email: rebecca@rwarddesign.com * Instagram: @rwarddesign * Facebook: @rebeccawarddesign * Website: https://rwarddesign.com/ * LinkedIn: rwarddesign * Pinterest: rwarddesign * X/Twitter: rwarddesign * You Tube: @rwarddesign
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * CFO2GO * Design Curious Podcast * E-Myth Revisited by Michael E Gerber
281: Creating an SEO Strategy with Pinterest On the podcast today is Julia Bocchese, an SEO and Pinterest consultant for small businesses in the creative industry. We’re discussing business strategy for interior designers, covering essential strategies for your website, Pinterest direction, and SEO. Julia shares some simple, actionable reminders that will help position your business to be found online. If you're an interior designer looking to improve your digital presence, this episode is packed with expert tips to enhance your strategy and grow your business. Tune in to learn how to effectively optimize your online strategy!
Topics Mentioned: * SEO strategy * Social Media Management * Google Business Profile * Website Content
Key Thoughts: * Knowing who you are, what you do, who you serve, how you serve them, and being very clear with that on the website is important. Michele Williams * Whatever blog posts, portfolio photos, or things like that that you have, that's going to dictate your strategy on Pinterest. Julia Bocchese * What we're really trying to do is create this big communication and feedback loop, that runs through all of our Instagram, Facebook, LinkedIn, and all the different socials that we're using trying to keep everything connected in this little ecosystem so that people are staying within your ecosystem. Michele Williams * In terms of the type of content, I do recommend thinking about what your ideal client would be searching for, and what would be beneficial to them. Julia Bocchese
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Julia: * Email: julia@juliareneeconsulting.com * Instagram: @uliareneeconsulting * Website: https://juliareneeconsulting.com/ * LinkedIn: julia-bocchese
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * Financial Courses at Scarlet Thread Consulting * CFO2GO * Julia’s SEO Freebie
280: What Does it Mean to Know Your Numbers I am so excited to have you join us on the podcast today! I’m going to be joined by Courtney Bramlett, who is the director of marketing and operations here at Scarlet Thread Consulting. She also owns her own company, The Good Sower, and today, we’re diving into an incredibly important topic: financial planning for interior designers. Maybe you've heard the buzzword over and over—know your numbers, know your financials—and it sounds great, but it has almost become an irritant, and you’re still not sure what it means. Today, we’re going to break down what it really means to understand the financials that are affecting your business strategy for interior designers and how these numbers impact your growth. We’ll talk about how you can create a solid financial plan for interior designers that will help you grow your company in the way you envision. So, stick around—I’m thrilled to have you here!
Topics Mentioned: * Financial understanding * Profitability * Cash Management * Strategic Planning
Key Thoughts: * I think it is important for owners of companies to understand how money is made, how money flows through their company, and how they can determine the money that is left over after everything has been paid for. Michele Williams * If you don't truly know what each type of profits is, you don't really know how much money you actually get to take home at the end of the day. Courtney Bramlett * The reason that I focus on gross profit so much is because that is the number one indicator that tells me if I'm selling it at the right price and paying the right amount in cost of goods, but it's also the number that is telling me do I have enough to run the company and do what I need it to do as the owner? Michele Williams * Profitability is tied to just raising your prices, and of course, that's a piece of it, but there's still a lot more that goes into being profitable. Courtney Bramlett
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * The Designers' Inner Circle - Become a Member Today * Understand Your Business Financials in Less than 8 Weeks / New Group Coaching * Financial Courses at Scarlet Thread Consulting * Profit First by Mike Michalowicz
279: Good Management Leads to Profitability Joining me on the podcast today is Courtney Bramlett, director of marketing and operations for Scarlet Thread Consulting. We are going to talk about values, how they lead to setting expectations, and having accountability in our firms. It's not every day that we have everything set up so perfectly that everybody comes in and does what they do without questions or confusion about their job. We will talk through some of the things that you can do establish practices that will help your employees or contractors all move forward in the same direction and towards the same goal. So, enjoy and listen in.
Topics Mentioned: * Values * Vision * Expectations * Accountability
Key Thoughts: * If we hire the right players, and we can draw the vision for them, they hopefully know what they're getting into, and they're coming in excited and with ideas. Michele Williams * As you said, when you can get vulnerable as a business owner with this stuff, I think you get more help and you don't feel alone. Courtney Bramlett * The more that people get constructive, positive feedback, the more they can keep going. Michele Williams * The only person who suffers when you cannot hold someone accountable or get out of your comfort zone to hold someone accountable, the only one who suffers is you. Courtney Bramlett
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions The Five Dysfunctions of a Team * The Designers' Inner Circle - Become a Member Today * CFO2Go * The Five Dysfunctions of a Team by Patrick Lencioni * It's Okay to Be the Boss by Bruce Tulgan * Who by Geoff Smart and Randy Street * Who Not How by Dan Sullivan and Dr. Benjamin Hardy
Click here to read the transcript for this episode.
278: Creating Productivity in Your Workday Today, I'm joined by Leslie Shreve, a workload and productivity expert, and the founder of Productive Day. She’s also the author and creator of Taskology, a comprehensive system designed to help manage tasks, time, email, and information. In our conversation, we’ll explore the distinction between organization and productivity, uncover where time might be slipping away in your workday, and dive into much more.
Topics Mentioned: * Organization * Productivity * Task Management * Methodology
Key Thoughts: * Any process is only as good as the way that we apply it and stay consistent with it. It's the inconsistencies that usually catch us. It's not the lack of the process itself in most cases. Michele Williams * I quickly dispensed with the whole notion of getting organized because that's not it. That's not even the first step. That's not even a step. It's a byproduct. Because when you learn how to become more efficient, effective, and productive, automatically you're going to be more organized. Leslie Shreve * A system or a methodology is only as good as we follow it and stay, on top of it. Michele Williams * The three places where time and productivity are hiding are in your task management process, your information management process, and your email management process. Leslie Shreve
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Leslie: * Email: leslie@productiveday.com * Facebook: @ProductiveDayLeslieShreve * Instagram: @productivedayleslieshreve * Website: https://productiveday.com/ * LinkedIn: @LeslieShreve * You Tube: @LeslieShreve
References and Resources: * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * CFO2Go * Taskology: How to Unleash the Power of Your Most Productive Workday by Leslie Shreve * What’s Your #1 Productivity Blind Spot on Productive Day * Productive Day Smart Steps free gift
277: Demystifying Inventory in Your Business Joining me today is Ciara Stockeland. She is a fractional CFO focusing on inventory-based businesses. She has a podcast called Inventory Genius along with a book by the same name. She also has a new book called Profit Genius that is out soon. Today we're going to demystify inventory. All about inventory, how it works in your financials, why it's so important to find resources and people who understand it and how you can strategize around it.
Topics Mentioned: * Inventory * Resiliency * Profitability * Financials
Key Thoughts: * Because every decision, every choice, everything that's sitting on that strategic plan, every product line that we bring in, it is all tied at some point in multiple places all the way down the chain. Michele Williams * It's a hard skill, but learning how to edit in your business, how to slow down, that all comes from really understanding what the numbers mean so that you know what you should be focusing on. Ciara Stockeland * I think that was a lesson for us too, that you can do it all right, and have things go wrong. There's not a direct cause and effect between right and wrong. But what could we have done differently? Michele Williams * Every mess can be cleaned up, every problem can be solved. So even if they feel like it's all out of control, like, we can fix it, it might take some time and some money, but it can be fixed. Ciara Stockeland
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ciara: * Email: hello@ciarastockeland.com * Instagram: https://www.instagram.com/inventorygenius/ * Instagram: @ciarastockeland * Website: www.ciaraastockeland.com * LinkedIn: @ciarastockeland
References and Resources: * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Understanding Your Financials course * Inventory Genius podcast * Inventory Genius by Ciara Stockeland * Profit Genius by Ciara Stockeland * Scarlet Thread Origin Story podcast
277: Demystifying Inventory in Your Business Joining me today is Ciara Stockeland. She is a fractional CFO focusing on inventory-based businesses. She has a podcast called Inventory Genius along with a book by the same name. She also has a new book called Profit Genius that is out soon. Today we're going to demystify inventory. All about inventory, how it works in your financials, why it's so important to find resources and people who understand it and how you can strategize around it.
Topics Mentioned: * Inventory * Resiliency * Profitability * Financials
Key Thoughts: * Because every decision, every choice, everything that's sitting on that strategic plan, every product line that we bring in, it is all tied at some point in multiple places all the way down the chain. Michele Williams * It's a hard skill, but learning how to edit in your business, how to slow down, that all comes from really understanding what the numbers mean so that you know what you should be focusing on. Ciara Stockeland * I think that was a lesson for us too, that you can do it all right, and have things go wrong. There's not a direct cause and effect between right and wrong. But what could we have done differently? Michele Williams * Every mess can be cleaned up, every problem can be solved. So even if they feel like it's all out of control, like, we can fix it, it might take some time and some money, but it can be fixed. Ciara Stockeland
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ciara: * Email: hello@ciarastockeland.com * Instagram: https://www.instagram.com/inventorygenius/ * Instagram: @ciarastockeland * Website: www.ciaraastockeland.com * LinkedIn: @ciarastockeland
References and Resources: * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Understanding Your Financials course * Inventory Genius podcast * Inventory Genius by Ciara Stockeland * Profit Genius by Ciara Stockeland * Scarlet Thread Origin Story podcast
276: Strategy is Key for Longterm Success I am so excited about our podcast today. With me is Courtney Bramlett. She is the director of marketing and operations here at Scarlet Thread Consulting and she's also the owner of her own company, The Good Sower. Courtney and I are going to have an in-depth conversation about strategy, why we need to have it, roadblocks that we see when people don't have a strategy, and we will share a little bit about the programs that we have coming this year that are available to help you all with strategy. I hope if nothing else, by the end of our podcast today that you will have a deeper understanding of why strategy is important to the overall long-term success of your company. Enjoy the podcast.
Topics Mentioned: * Strategy * Intentionality * Goal Setting * Prioritization
Key Thoughts: * The true strategy is much, much deeper and more granular. When it's understood and done well, then your day-to-day becomes easy. Courtney Bramlett * A strategic plan is meant to be over multiple years in most cases. It certainly is going to be the most detailed in the year that you're working in. Michele Williams * Business owners get in this rut of feeling like they're never hitting these objectives and goals that they have because they're trying to run in a thousand different paths at one time. So, I think strategic planning helps them with burnout, reducing burnout and decision fatigue too. Courtney Bramlett * Two words that I see a lot of people run from and I think again, it goes back to education. They run from the word strategy, and they run from the word budget. They run from those because they think they lock them down. What I would say is they actually free you up. Because what a strategy is and what a budget is are decisions that you're making in advance. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Pricing Without Emotion course * Financial Health Check Up * 12 Week Year by Brian P Moran * The Gap and the Gain by Benjamin Hardy and Dan Sullivan * Traction by Gino Wickman * Fix This Next by Mike Michalowicz
My New 8-week Group Coaching Program Kicks Off in January! Join the waitlist for my newest group coaching program, How to Build, Manage, and Execute on a Business Strategy. Over 8 weeks, you'll learn how to create a business strategy, set key results to track its success, and leverage a decision-making process to ensure every choice drives you toward your ideal future.
Register now to know when registration opens
275: Cheers to 2024! Every year Ceil DiGuglielmo and I sit down and chat about the prior year. We talk about the books we've read, some of the things that have happened in our lives, and how those experiences have shaped us to be the business owners that we are and that we are becoming. I am excited to, once again, invite you to listen in as Ceil and I discuss the year 2024.
Topics Mentioned: * Strategy * Intentionality * Planning * MIndset
Key Thoughts: * Especially as women, we spend a lot of time waiting because our job is to manage our families and our households and everything else as opposed to being happy in this moment. Ceil DiGuglielmo * What I kept seeing is we kind of have an epidemic of we're all doing our jobs, we're working, we're satisfying the client, but we don't have a guide or a path of where we want our business to go. Michele Williams * It's almost like we're running this race and we're handed the baton to the next person and I'm looking for that person just like everybody else, who can I hand this baton to that's going to love the industry and who's going to love people? Michele Williams * There have been enough generous people who have the knowledge and are willing to share it, that we can pull those people up behind us. I think if there's a legacy to be had, something to look towards, is what can I leave behind that will make life easier for other people so they don't have to have those hard knocks? Ceil DiGuglielmo
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ceil: * Website: The Sew Much More Podcast * Website: The Curtains and Soft Furnishings Resource Library * Facebook: The Sew Much More Podcast * Facebook: The Curtains and Soft Furnishings Resource Library * Instagram: @ceildi * Instagram: @csf_resource_library * Email: ceilwdi@gmail.com
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Pricing Without Emotion course * It's Okay to be The Boss by Bruce Tulgan * Price Your Work with Confidence by Kitty Stein * The Recipe For Empowered Leadership: 25 Ingredients For Creating Value & Empowering Others by Doug Meyer-Cuno * She Thinks Big by Andrea Liebross * Atomic Habits by James Clear * Your Next Five Moves: Master the Art of Business Strategy by Patrick Bet-David
My New 8-week Group Coaching Program Kicks Off in January! Join the waitlist for my newest group coaching program, How to Build, Manage, and Execute on a Business Strategy. Over 8 weeks, you'll learn how to create a business strategy, set key results to track its success, and leverage a decision-making process to ensure every choice drives you toward your ideal future.
Register now to know when registration opens
274: Business Inspiration for Your Design Firm Joining me today is Colleen Bennett of CBB design firm and Mimosa Home. Colleen has had a varied career in design working worldwide, and today she's going to share some of her story and how she's created a unique experience for her clients maintaining profitability in the process.
Topics Mentioned: * Travel * Profit * Debt * Intention
Key Thoughts: * You control the sale with finishes. Because once you get into the finished department and the design department, you control every single aspect from there. Colleen Bute Bennett * The beautiful thing is they're levers and we know what we need to make. So, you can go up and down, you can have a higher rate and a lower markup. Michele Williams * We have now created this one-stop shop for our clients. So instead of you running around to every single place, you're in one location, and we get your house done in four to six hours. Colleen Bute Bennett * I love the idea that design can show up in so many different ways. You can reinvent certain things and it just feels like we're not as boxed in sometimes. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Colleen: * Email: georgina@publicityforgood.com * Facebook: @DesignbyColleenBennett * Instagram: @cbbdesignfirm * Facebook: @mimosahomenc/ * Facebook: @butecouture
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Pricing Without Emotion course
My New 8-week Group Coaching Program Kicks Off in January! Join the waitlist for my newest group coaching program, How to Build, Manage, and Execute on a Business Strategy. Over 8 weeks, you'll learn how to create a business strategy, set key results to track its success, and leverage a decision-making process to ensure every choice drives you toward your ideal future.
Register now to know when registration opens
273: Construction Management is Profitable Welcome to the podcast! Today, I’m joined by the talented Renee Biery, a luxury interior designer, construction expert, and the host of the Only Girl on the Jobsite podcast. We’re diving into an incredible conversation about expanding your design services to include construction management. Whether you’re already doing this or thinking about it, we’ll cover some of the common challenges—pricing, pitfalls, and the essential things to keep an eye on. Renee is an expert in navigating these areas, and we’re excited to share her insights with you. We hope you enjoy the conversation!
Topics Mentioned: * Project Management * Pricing * Confidence * Team Work
Key Thoughts: * I think that's where designers can trip themselves up unintentionally. They see themselves as the outsider, as the only girl on the job site, and it's very easy to just stay in that role. Renee Biery * What's interesting is when we show up in a space, already personally aware that we deserve to be in the space, we don't feel like we have something to prove. Michele Williams * Even those who know what they should be charging, or they already are charging, they aren't charging what they believe they are worth because they're uncertain of their worth. Renee Biery * We're looking for this fast track, and the truth of the matter is, we don't need to fast track our pricing. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Renee: * Email: renee@devignierdesign.com * Facebook: @devignierdesign * Instagram: @devignierdesign * Website: www.deVignierdesign.com * LinkedIn: Renee Biery
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * The Interior Designer's Guide to Construction Management * Only Girl on the Jobsite podcast
Unlocking Financial Freedom with CFO2GO: A Journey Through One-on-One Coaching One-on-one coaching is my main line of work, and for a good reason. I dive headfirst into my client's business, helping them become strategic with their finances and decision making to be able to lead profitable companies. My ultimate goal and reward is connecting with and helping incredible business owners in the interior design industry. So, I get very excited when my clients come back on my podcast to share their stories so they can, in turn, help others in the design industry.
With CFO2GO you can take your business strategy to the next level with our 4 step process that will help you know your numbers, understand your business position, create a path forward unique to your design experience, skill set, and dream life - plus help you grow your design firm. Click below to find out more!
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272: Ending the Year Well for Your Design Business Have you ever wondered how to end the year well? You'll hear us talk about this in multiple places all around, how do we end our year well? In this podcast, we will discuss how to define what ending the year well for you and your company looks like, how to plan in advance, how to be intentional, and how to create some time to rest and reset. It is so interesting that the fourth quarter of our year is spent not only making sure that we can wrap up the needs of the current year but also doing a lot of planning and heavy lifting so that we can start the next year off well. The way to start in a power position in the new year is to end this year in a power position. Listen in today and determine what that might look like for you and your company.
Topics Mentioned: * Strategic Planning * Business Metrics * Processes * Intentionality
Key Thoughts: * Finishing well means to be proud of the effort that was put into these critical items knowing that they set us up for a better future. Michele Williams * Take stock of where the company is right now and where you anticipate it being at the end of the year with regard to your financials. Michele Williams * Ending well also takes advanced thought and planning. Michele Williams * Don't overdo it and go into the new year exhausted. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today
271: Buying a Commercial Space for Your Business Joining me today on the podcast is Paul Neal. He's a financial strategist and author dedicated to transforming the way entrepreneurs view commercial property. He has a book called Un-Lease Your Business: Unlock Wealth, Autonomy and Control by Buying Your Building and Firing Your Landlord and it is a very informative book. He is an amazing speaker who is going to help us understand more about the commercial buying process for our businesses. Enjoy the podcast.
Topics Mentioned: * Purchasing commercial real estate * Process * Financials
Key Thoughts: * You don't have to be a world-conquering type of person, but you have to have stability. Paul Neal * You cannot make decisions without your financials in order, or you're making it on a gut feeling and that doesn't always support us. Michele Williams * We always suggest to get in with the least amount of down payment that makes sense, because then you've got your money that you're not putting into the brick and mortar you can use for other things. Paul Neal * The goal here is that we have to be profitable with what we have, and then provide ourselves as a stable business, meaning stable sales, and stable profitability. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Paul: * Website: https://www.ownyourbuildingnow.com/ * Email: paul@vpc.capital * LinkedIn: @paul-neal-tea * YouTube: @theEntrepreneurialAgent * Facebook: @theentrepreneurialagent * Instagram: @theentrepreneurialagentpodcast
References and Resources: * Un-Lease Your Business: Unlock Wealth, Autonomy and Control by Buying Your Building and Firing Your Landlord by Paul Neal * CFO2GO * Work with Me
270: 4 Year-End Steps to Prepare Your Interior Design Business Join us as we revisit an insightful episode focused on empowering interior designers through creating a strategic business plan. This re-showing of our previous podcast, "Four Year-End Steps to Prepare Your Interior Design Business," is perfect for anyone looking to enhance their business strategy.
In this episode, we dive deep into effective strategies tailored specifically for the interior design industry. As an interior design business coach, I’m thrilled to share the exact processes I'm implementing in my own business right now. Whether you're a seasoned designer or just starting out, these actionable steps will help you set a strong foundation for the coming year.
Topics Mentioned: * Planning * SWOT analysis * Setting goals * Energy
Key Thoughts: * Taking an in depth look and SWOT analysis at each element in our business really provides us with information and helps shine a spotlight in an area we haven't looked at before. Michele Williams * By creating quarterly goals which are more streamlined and individually focused, we have the ability to get four really big goals completed in a year with attention placed on each one. Michele Williams * Think about what energizes you and what drains you. Michele Williams * Make sure that the majority, if not all, of your products and services and processes are done in a way that moves your company forward with energy instead of draining it. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * The Designers' Inner Circle - Become a Member Today * Who's in Your Room: The Secret to Creating Your Best Life by Ivan Misner, Ph.D., Stewart Emery L.H.D., Rick Sapio * 12-Week Year - by Brian P. Moran and Michael Lennington
Unlocking Financial Freedom with CFO2GO: A Journey Through One-on-One Coaching One-on-one coaching is my main line of work, and for a good reason. I dive headfirst into my client's business, helping them become strategic with their finances and decision making to be able to lead profitable companies. My ultimate goal and reward is connecting with and helping incredible business owners in the interior design industry. So, I get very excited when my clients come back on my podcast to share their stories so they can, in turn, help others in the design industry.
With CFO2GO you can take your business strategy to the next level with our 4 step process that will help you know your numbers, understand your business position, create a path forward unique to your design experience, skill set, and dream life - plus help you grow your design firm. Click below to find out more!
Learn more
269: Delegating Begins with Hiring Joining the podcast today is Selina Johnson. Selina is a team operations strategist and go-to expert for reclaiming your time and embracing an enriched, peaceful life. Her mission is to empower CEOs to build efficient teams that don’t rely on them 24/7. We will talk about where delegating really begins and the best practices to get the outcomes you want with teams you enjoy working with.
Topics Mentioned: * Hiring * Trust in a team * Big picture * Preparedness
Key Thoughts: * It's really important to determine what's your core focus in your role and, what could you start delegating every morning, even if it's a small task, to somebody else in your team. Selina Johnson * Delegation really starts with the building of your team and having the right people in the right positions to do the job that you need to delegate to them because even if they understand it and even if they acknowledge it if they can't do it, it does you no good to delegate it to them. Michele Williams * I feel that is detrimental to the business when you don't give all the key information when you're delegating. Selina Johnson * It is important that we can help them understand how they fit in and that the job matters. It matters if it gets done. It matters if it doesn't get done. And it matters if it gets done well. Because if they think that it doesn't matter, then you're going to get, it doesn't matter work. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Selina: * Website: www.selinajohnson.com * Email: selina@selinajohnson.com * LinkedIn: @selinajohnson-teambuilding * You Tube: @ilovemyteam
References and Resources: * Aim With Intent Coaching * CFO2GO * Work with Me * Metrique Solutions * Selina’s Ultimate Hiring Blueprint
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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268: Pricing Your Work Without Emotion On today's podcast we're going to hear a pre-recorded podcast that I did with Ceil DiGuglielmo of the podcast "Sew Much More". Ceil interviewed me and spoke with me about the Pricing Without Emotion course that I have been teaching since 2010. I am so excited for you to hear this as we are getting ready to launch our Pricing Without Emotion course on September 5, 2024. As Ceil says in her intro, even if you are not looking to buy the course or participate in it, there is a lot you can learn from listening to this podcast. So, I invite you to sit back, to think about your pricing, your journey, and your relationship with money while you listen and enjoy.
Topics Mentioned: * Pricing * Strategy * Profit * Value
Key Thoughts: * Let's price without emotion. Let's work with the emotion. Let's work with passion, but we don't have to price with it. We can price with more the logic brain, and then we can work with that feeling and emotion brain so that we pour that into it. So, it's not that we're separating it. We're just kind of putting it into place. Michele Williams * The first time I took it, it was a question of, can I get the money together to take this course. I knew it was worth it, but did I have the money for it? I made sure I did. And the second time, like, okay, I'm ready. I am putting this money out because I will get it back quickly. Ceil DiGuglielmo * If I can get to the point of understanding it, then I can get to the point of ownership. When I can get to the point of ownership, then I have a power. And that means I have the power to make decisions with information. Michele Williams * The best time to take this is early on. The next best time is now. Ceil DiGuglielmo
Join our Pricing Without Emotion, Group Coaching Program Understanding your pricing is crucial for business success. Pricing isn't just about numbers—it's a balance of math, time, expertise, and value.
Beginning September 5, 2024, this 8-week course teaches you how to confidently set prices that align with your revenue goals and reflect the true worth of your products or services. You'll learn to remove emotion from pricing decisions, establish a scalable structure, and effectively communicate your value to avoid bargain-seeking clients.
The goal is to master the financial aspects of your business and price with confidence.
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions * Pricing Without Emotion Coaching Program * Price Your Work with Confidence by Kitty Stein * Profit First by Mike Michalowicz * Fix This Next by Mike Michalowicz
267: The Role of Tech in Your Business On the podcast today is Jen McFarland founder of Marit Digital. Jen partners with small businesses and teams as they plan, assess, and improve the digital solutions that help them succeed. She helps with implementing AI to setting up web hosting and digital experience design. Today’s topic is all about tech.
Topics Mentioned: * Technology * Audit * AI
Key Thoughts: * It's the same with your tech. You have to reevaluate that from time to time. You have to make changes, you have to assess, go back and look and see what's working. Jen McFarland * All of us are running technology businesses; it's just what product or service you're using technology to sell. Michele Williams * It's already past time where when you're talking about investment in tech and budgeting for tech, AI needs to be a line item, and it needs to be something that you're thinking about bringing into your stack. Jen McFarland * ... I think there is something to being able to engage with the technology in a way that actually makes you feel empowered. I think that is super important when we're looking at tech is it empowering us to do the next things. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jen: * Website: https://maritdigital.com/ * Email: hq@podcastally.com * LinkedIn: https://www.linkedin.com/in/ncsumarit/ * You Tube: https://www.youtube.com/@maritdigital
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * AI Cafe on LinkedIn
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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266: The Sales Process Doesn't Have to End Dr. Nadia Brown is the founder of the Doyenne Agency, a global sales and training agency dedicated to educating and equipping women business leaders to pursue their passion, own their power and increase their profits. She is the host of the “Straight Talk About Sales” podcast and is the author of Leading Like a Lady: How to Shatter Your Inner Glass Ceiling and Sell Like a Lady: How to Master Sales with Dignity, Class and Grace. Today we will discuss selling with integrity, how the entire company is involved in the sales cycle, and how not to be a bully in the process.
Topics Mentioned: * Sales Process * Integrity * Team
Key Thoughts: * Sales is a learnable skill, and everyone on the team should understand their role in supporting the sales process. Dr. Nadia Brown * Whether the founder or the CEO is the one that's still doing the majority of closing of the sales, it's still important that everyone on the team understands sales, how it works, and their role in supporting that process. Michele Williams * Sometimes we only think of sales in that financial exchange when you get to that stage, but you're selling all the way to that stage and you're continuing to sell even after that person becomes a client. Dr. Nadia Brown * Even if the product's great, it's the sales system that's not great. It's not about the product. It's not about the person. Nine times out of ten, I like the person. But the process starts to make me feel like I've lost my own agency in it. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Dr. Nadia: * Website: https://www.thedoyenneagency.com * Email: nadia@thedoyenneagency.com * LinkedIn: https://www.linkedin.com/in/drnadia/ * Instagram: @IamDrNadia
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Michele’s 3 courses: Pricing Without Emotion, Understanding Your Financials, and Master Your Profit * Leading Like a Lady: How to Shatter Your Inner Glass Ceiling by Dr. Nadia Brown * Sell Like a Lady: How to Master Sales with Dignity, Class and Grace by Dr. Nadia Brown * “Straight Talk About Sales” podcast
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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265: Managing Your Team Effectively Today's podcast is a conversation with Shelly Warren. Shelly is a women's leadership advisor, and she's the host of the “Stacking Your Team” podcast. Her expertise is in helping small business owners develop and nurture a leadership team so that they can take over the day-to-day operations, giving you, the owner, more time for growth, conversations, and decision-making. I hope you enjoy the podcast.
Topics Mentioned: * Career path * Management * Team building
Key Thoughts: * Defer to your experts, ask them for their point of view, and then you can take that one step further by making sure that you showcase that individual to your clients and your customers. Shelli Warren * The company could be terrible, and the manager could be great. We're going to stay because we are somewhat tethered to that manager. They're watching out for us, they're caring for us, they're leading us, they're growing us, but they're acting like a coach for us, and they're moving us around. Michele Williams * A players want to work with other A players, and they want to work alongside an A player leader. Shelli Warren * The team that got you here may not be the team that will get you there. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Shelli: * Website: www.stackingyourteam.com/ * Email: shelli@stackyourteam.com * LinkedIn: https://www.linkedin.com/in/shelliwarren2/ * Instagram: @StackingYourTeam * Facebook: @Shelli Warren * YouTube: @StackingYourTeam
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Michele’s 3 courses: Pricing Without Emotion, Understanding Your Financials, and Master Your Profit * It's Okay to be The Boss by Bruce Tulgan * Necessary Endings by Dr Henry Cloud
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
264: The Role of Storytelling in Your Email Marketing With me today is Kamala Nair. Kamala is a meticulous copywriter, a brand voice expert, and a published novelist with more than 20 years of professional writing experience. Our focus today will be on email messaging surrounding your conversion and nurture campaigns. Listen in as we talk about the importance of storytelling in your messaging.
Topics Mentioned: * Email Marketing * Storytelling * Conversion Campaigns * Vulnerability In Business
Key Thoughts: * Humans are wired for story. It’s how we make sense of the world. Kamala Nair * People need the words. They need to sit with the words. They need to chew on the words. They need to absorb them and digest them before they make a move. Michele Williams * Email is a much more intimate and direct form of communication than something like social media. Kamala Nair * There is a happy medium between no CTA and beating them over the head with a CTA and the Ginsu knife thing. There's something in the middle. And I think each of us has to find where that middle ground is for us and for our leaders. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Kamala: * Website: www.kamalanairinc.com/ * Email: kamala@kamalanairinc.com * LinkedIn: @KamalaNair * Instagram: @KamalaNair
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Michele’s 3 courses: Pricing Without Emotion, Understanding Your Financials, and Master Your Profit
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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263: Your Financial Personality Impacts Your Decisions Joining me today is Gary Arblaster of Arblaster Consulting. Gary is a finance expert, and he is on a journey to help us recognize our mindset around money and communications. He has created an assessment called the 41 Financial Personality Assessment, which is a tool that links personality traits to financial choices. We're going to talk about money, individual wiring, and how that affects our decision-making and communication around money today on the podcast.
Topics Mentioned: * Financial Personality * Communication * Uniqueness * Leadership
Key Thoughts: * I've said it a thousand times, money is amoral. It's what we do with money. Michele Williams * We make decisions based on two things, to fulfill an inner need or to protect us from what we fear most. Gary Arblaster * If we think about it, the DISC personality test is really saying, here are some of your personality traits that show up in how you work and communicate and everything else. And money is no different in that regard. Michele Williams * When fears come out and fears start to set in, that's when we shift. So that's when our mindset needs to be the strongest because those who maintain the strongest mindset make it through the hardest challenges. Gary Arblaster
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Gary: * Website: http://www.arblasterconsulting.com * Email: team@that1agency.com * LinkedIn: gary-arblaster-jr
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Making Millions and Going Broke by Gary Arblaster * Find You Why by Simon Sinek * Gary’s 41 Financial Assessment * Michele’s 3 courses: Pricing Without Emotion, Understanding Your Financials, and Master Your Profit
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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262: Big Thinking Big Results On the podcast today is Andrea Liebross. She's a business and life coach who works with high-achieving women entrepreneurs. She's the host of the podcast “Time to Level Up”, and just published a fantastic book called She Thinks Big. We're going to be talking about intention, integration, priorities, and agency in our business journey in our conversation with Andrea. I'm excited to have you join us.
Topics Mentioned: * Strategy * Fear * Integration * Intention * Committed versus Interested
Key Thoughts: * We have to be intentional about having that necessary ending so that we can have a new beginning, so that we can track a new path and create a new course forward. It takes intention. Michele Williams * If you think about a teeter-totter at a playground, that balancing, it's only balanced for a split second before one side goes up and one side goes down. I don't love balance. I really love this thought of how things can be integrated. Andrea Liebross * What you own, you can change. I own the decision; therefore, I can change the decision. I own my choice. I could change the choice, but I own it. Which puts me in the power position of, this is my decision to make or my choice to make, and I'm not going to feel like it's happening to me. I'm going to feel like I'm participating in this process. A mental shift of power. Michele Williams * You've already created your glass ceiling. We don't need to have that. Let's think beyond. Let's embrace the thought that you are a business owner that in every season your business is equal. There's no downside. So that's big thinking. And if you can make big decisions, it makes these choices easier, which are going to support, ultimately, the big thinking. Andrea Liebross
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Andrea: * Website: AndreaLiebross.com * Instagram: @AndreaLiebrossCoaching * Email: andrea@andrealiebross.com * YouTube: @AndreaLiebrossCoaching * Facebook: Andrea Liebross Coaching * LinkedIn: Andrea Liebross * X (Twitter): Andrea Liebross
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Andrea’s Podcast “Time to Level Up” * She Thinks Big by Andrea Liebross * Necessary Endings by Dr. Henry Cloud * Seven Primal Questions: Take Control Of The Hidden Forces That Drive You by Mike Foster * Your Next Five Moves: Master the Art of Business Strategy by Patrick Bet-David * It's Okay to be The Boss by Bruce Tulgan
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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261: Podcasting as a Revenue Stream With me on the podcast today is Traci DeForge. Traci has over three decades of experience in broadcast media, executive management, and consulting for Fortune 500 businesses. She is the founder of Produce Your Podcast, and she's going to be sharing with us today how creating and having your own podcast can lead to profitable results in your life and in your business.
Topics Mentioned: * Marketing * Authenticity * Leverage
Key Thoughts: * I think people just have to really understand when you make the decision to start a podcast, the fundamental thing that you want to think about is your why. Traci DeForge * Podcasts, truthfully, don't have to be ginormous and huge and reach the entire world. It just has to reach your ideal client for whatever purpose you have for that podcast. Michele Williams * If you change that person's perspective with one thought and you make a difference to that one person, that could change their life. Traci DeForge * I have met some of the most amazing people by hosting them on my podcast and talking to them. I've hired many of the people that I have talked to on my podcast because I'm usually interviewing somebody because I'm interested in what they're doing. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Traci: * Website: Produce Your Podcast * Facebook: @tracideforge * Instagram: @produceyourpodcast * Email: traci@produceyourpodcast.com * YouTube: @produceyourpodcast * LinkedIn: @tracilongdeforge
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Journey to There podcast
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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260: CFO2GO Success Story With me today is Kate Wood of Worth Preserving. Kate partners with property owners, designers, architects, trades, and others to rescue, rehabilitate, and determine what is worth preserving in historic homes and buildings. Recently, Kate completed my CFO2GO program, and the results that she has had in just a few short months have been astounding. In this episode, we're going to talk to Kate to understand a little of her journey to reclaim the love she has for her work, to be able to make money doing it, and to have the ability to make magic as she works with her clients every day.
Topics Mentioned: * Loss Leaders * Financial Planning * Shifted Orientation * Practice of Financials
Key Thoughts: * It is the merging, that intersection between the strategy and the plan and who I am and what I'm trying to do and how I'm going to price it and how I'm going to manage the money and how I'm going to run it through my company. That intersection is where the magic happens for the business owner and for the business as a whole. Michele Williams * I go back to my final report and I am in Metrique every month putting in my numbers and making adjustments. Kate Wood * Thinking about our financials as a practice gives us the ability to continually practice getting them and keeping them in alignment with all the things that we're doing. Michele Williams * It is a constant tweaking and evolution and I'm just excited about the business now because I do think of it as a business that has value and not just to me, but to other people. Kate Wood
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Kate: * Website: Worth Preserving * Instagram: @worthpreserving * Email: kate@worthpreserving.com * YouTube: @KateWoodWorthPreserving
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Worth Preserving: Weekly Newsletter and Free Download for Interior Designer
Unfiltered Wisdom: Free Coaching from Michele’s Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success.
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259: The Power of Feasibility Robyn Thomas is joining us today on the podcast. Robyn has an architecture degree from Auburn, and she has merged that education with her love of design to provide a one-stop architecture offer specializing in design completion and optimization. She calls it the master of done. I love that so much. Today we're going to delve into feasibility, what it is, why it's needed, and when is the right time for the conversation around it. Enjoy the podcast.
Topics Mentioned: * Metrics * Processes * Project Management * Teamwork
Key Thoughts: * We sometimes get so enamored with the result that we don't look at the result and then backpedal our way through it to get to the beginning Robyn Thomas * I'm all about feasibility... It's really saying, what are the resources available and how can we best use them? Michele Williams * There are indicators and metrics that we can pull into our discovery call, or consultation process that we want to introduce early, way before we get into what color are the walls. Robyn Thomas * I think that in feasibility, sometimes people again have the idea that they're fighting against you to get something done, even though it's not you, it's what you're bringing up, the budget, the timeline. You're the representation of those things. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Robyn: * Website: www.robynstudios.com * Facebook: rs.homeguidestudio * Instagram: @rs.homeguidestudio * Email: robyn@robynstudios.com * Pinterest: robynstudiosga/
References and Resources: * CFO2GO * Work with Me * Metrique Solutions
258: 4 Strategies to Stop Being Underpaid I am so excited to be talking to you today. I'm actually so excited that I didn't wait and get all dolled up to be on the video part of the podcast. I decided in the middle of my work session just to stop and go ahead and share this message. So, I hope you are excited as I am, because we are going to talk about four strategies that will stop you from being underpaid. Do you know what it means to be underpaid? It means a high tolerance for low pay. I think that it is a problem, especially for creatives and certainly in the interior design industry. Now, some of you may be listening to this podcast and you may be thinking, hey, no problem here, I get paid all the time. But my question would be, do you take the money out of the company with ease, without feeling stressed? Some of you may be listening to the podcast and thinking, oh yeah, I have a high tolerance for low pay. Instead, I'm a people pleaser and I want to do great things for other people. Stay tuned because we're going to talk about the four strategies that will help you not be underpaid, but to be paid fairly and to be able to have a profitable company - at the same time
Topics Mentioned: * Value * Worth * Pricing strategy * Career path
Key Thoughts: * People are paying you for what you know, or they're paying you for what you have the ability to learn and to know. Michele Williams * People are willing to pay you for what you know. Michele Williams * Time is a currency that we spend in our calendar, and people will pay us for the time that we have available to devote to their project. Michele Williams * We're all looking at what we can hand off to somebody else's task list. Stress relief is a big deal. Michele Williams * Understanding pricing and understanding your attitude around it is really going to allow you to move forward with confidence and not cockiness. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions
257: Design the Life You Want Nicole Comis is a life and mindset coach, and she's passionate about helping driven professionals achieve their career goals without sacrificing their personal lives. She's certified by the International Coaching Federation and she's also a neurolinguistics programming master coach. Nicole's goal is for those that she works with to recognize that success comes from living a happy, healthy, and balanced life, whatever that might look like for them. If you're feeling tired or overwhelmed or not sure what to do next, this is the podcast for you.
Topics Mentioned: * Health * Success * Balance * Mindset
Key Thoughts: * The reason why we burn ourselves out and the reason why we work our butts off is because it's our programming. Whether it's a fear or a limiting belief or that's what dad did, that's what mom did. We are programmed to think that that's what we need to do, whether it's, I need to prove myself, I need to prove I'm worthy or not, that's just what is done, or you've got to work your butt off to make money. Nicole Comis * That makes me think of what grace has been bestowed upon me and upon my life and upon those I love or those I'm watching. Seeing the grace that we get every day, that is what makes me joyful. Michele Williams * The more that you can identify your fears and your limiting beliefs and understand where those come from, the more aligned you feel, and I do tell my clients, too, to really practice making decisions based on your vision and your values. Nicole Comis * When other people's ideas and influence get like that, we have to turn it off, and then we've got to be intentional about the influences of the people that we let speak into us. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Nicole: * Website: https://www.nicolecomis.com * Facebook: NicoleComisCoaching * Instagram: @nicolecomis * Email: nicole@nicolecomis.com * LinkedIn: nicolecomis
Tic Tock:@nicolecomis
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Necessary Endings by Dr. Henry Cloud * Life Fulfillment Exercise * Sew Much More Podcast * Podcast with Jennifer Looney: Creating a Board of Directors that Support You
256: One Size Does Not Fit All One size does not fit all. Okay, I just said it. I know that's going to be hard for some of you. But in our haste to get things done, to keep moving, to provide a service, often we're looking for that shortcut to success. We're looking to ride the elevator to the top instead of taking the stairs. Today, we will explore how to choose the right offer for our company and ultimately, for our customers.
Topics Mentioned: * Templates * Metrics * Problem Solving * Business Solutions
Key Thoughts: * I've used templates. I have templates. I think they're awesome, but they're only as good as they know how to be used and how to be tweaked. Michele Williams * Simply purchasing a template without a complete understanding of the problem that it's solving is just going to create more busy work for your team, leave you lacking in the outcome desired, and it's honestly going to cause frustration. Michele Williams * Our goal here is to help you truly understand the challenge that you have and the problem that you're solving. Michele Williams * What we are dedicated to is empowering you to know how to read the signs, know how to determine what's needed, and knowing how to adjust your systems, whether they're purchased systems or created systems so that they can grow with your company. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions
255: Ignite Your Passion in Your Business With me on the podcast today is Jacqueline Green of Behind the Design company. Jacqueline is a coach, and she helps people move from a hobby into the business that they want that can be profitable. We're going to have a very robust conversation today on how to identify areas that we're passionate about and how to give ourselves the freedom to move from one direction to another, not to stay stuck. I hope you enjoy the podcast.
Topics Mentioned: * Passion * Pivot, * Growth * Mindset
Key Thoughts: * As you build wisdom, as you build your knowledge base, what was important to me in my 20s versus what's important to me in my 50s is completely different. That's what's so unique and fun, is really seeing what could this really be. And getting out of whatever mindset that we were kind of stuck in from our past. Jacqueline Green * Giving ourselves the freedom to even go through that discovery process, I think is really what you're inviting us to here, is to not feel that we have to be stuck, no matter how far we're in business, no matter where we are. Michele Williams * It's giving yourself permission to put yourself first on occasion to really look at what you really want in life and how you are going to get there. Jaqueline Green * I see one thousand opportunities within this industry to build a business, doing the parts that we always have, parts we don't love, but focusing on what you love. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jaqueline: * Website: www.behindthedesignco.com * Facebook: behindthedesignco * Instagram: @behindthedesignco/ * Email: jgreen@behindthedesignco.com * LinkedIn: behind-the-design/
LinkedIn: jacquelinereed/
References and Resources: * CFO2GO * Work with Me * Metrique Solutions * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion” * Growth Mindset by Carol Dweck * Necessary Endings by Dr. Henry Cloud
254: CFO2GO for Your Business On the podcast today, we're going to consider the work of a CFO or a chief financial officer. Given that most of our businesses are too small to hire this as a full-time position, we've begun to see the rise of fractional offerings in this space. Today, we're going to talk about what a CFO does, and if you need one.
Topics Mentioned: * Financial Planning * Budgets * CFO * Metrics
Key Thoughts: * What does it mean to hire fractional? It means to share time. So that's really all that we're saying is you're sharing time with another company to have someone come in and perform those services. Michele Williams * But as we know, all CFO services are not the same, just like all design services are not the same. Michele Williams * Why would we name it CFO2GO? Because our goal is to help you understand how to do this work and then let you go do it, not to hold you tied into some long-term engagement. Michele Williams * There's nothing worse than either not knowing how to pay yourself, having the money in the account, not knowing if you can take it out, not knowing what it's meant to do, and not having a plan. We can help you solve every bit of that. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions * Profit First by Mike Michalowicz
253: Removing Fear from Video in Your Business Joining me today is Jasmin Bryant with Fear No Video. Jasmin has had a very varied background. She has worked in television, as an actress, and in the news. She is going to share with us today how we can show up on video without fear. One of the things that Jasmin and I are going to focus on is how to remove some of the self-talk that we have before we ever do it, how to get ourselves ready to go on video, and how to make sure that the message is something that we want to share. So, I invite you to listen in.
Topics Mentioned: * Fear * Messaging * Confidence * Critique
Key Thoughts: * One of my mentors said something that blew my mind, which was, perfectionism is a first cousin to procrastination. Trying to get everything perfect just leads us to putting it off and putting it off until we don't do it. Jasmin Bryant * I don't think it's possible for us to criticize other people at a really high level without turning that focus and criticism on ourselves in an extremely negative, hurtful, hold us back kind of way. I just don't see that being positive. Michele Williams * For anyone who's watching, anyone who's listening, you take those breaths, and you'll feel calmer. Your message will be clearer, and you'll be surprised at how much better your video is. Jasmin Bryant * I memorize the points in order so that I know this is kind of the route that I'd like to take as I'm sharing and then you just speak from the heart. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jasmin: * Website: Rock That Video * Facebook: Fear No Video * Instagram: @fearnovideo * Email: jasminlbryant@gmail.com * YouTube: Fear No Video * LinkedIn: Jasmin Bryant
References and Resources: * “Five Keys to Beat Camera Shyness” free e-book * CFO2GO * Work with Me * Metrique Solutions * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”
252: The Intersection of your Financial and Strategic Plans On the podcast today, we're going to be talking about the intersection of your financial plan and your strategic plan. It's not enough to have one or the other. We really need them in combination to make our business as healthy as possible. So, listen in as we talk about that overlap between the two.
Topics Mentioned: * Cost to everything * Ability to evaluate and prioritize * Budgets and financial systems support * Strategy first
Key Thoughts: * I would always start with strategy first, especially in a planning phase, and then look to what it's going to cost and then back up. Michele * A company could have goals that are even bigger than what the current strategic plan is. Michele * This intersection of the finances and the strategy is once you have the financials set to your strategy, it gives you something to measure. It allows you to set KPIs, or key performance indicators, the things that you want to measure. Michele. * Metrique Solutions allows us to pull in that financial data from our financial accounting software, and then it allows us to do things like manage the data, analyze the data, model the data where we don't have other tools to do that. Michele
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions
251: Year End Wrap Up Joining me on the podcast today is Ceil DiGuglielmo. You probably recognize Ceil as she has been with me multiple times since 2018. She is the owner of the Curtains and Soft Furnishings Library and the host of the Sew Much More podcast. Every year, Ceil and I get together to talk about what has happened over the last year. We share our business and life experiences, our highs, our lows, what we're most proud of, and what we're looking forward to the next year. We hope that this authentic conversation that you can listen in on between the two of us will spark an interest in you to have that special someone that you can share some of your business highs, lows, and what's happening with as well. Enjoy the podcast.
Topics Mentioned: * Work life balance * Definition of success * For Now
Key Thoughts: * When life has struggles in it, you do need a little decompression from that, too. As high performers, I think we just keep going. We just keep going. Ceil DiGuglielmo * It's been a year of recognizing the exhaustion from those things and learning how to set those things down. Michele Williams * I love that the mindset has changed, and I love that people are dropping statements like, yeah, cash flow is a big problem for me and that's because I just did this or just did that. Ceil DiGuglielmo * When we are in business and the impostor syndrome kind of rears up, we need to stop and say to ourselves, wait a minute, I was never tasked with knowing everything. I was tasked with having a company that would do research and development to find the answer. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ceil: * Website: The Sew Much More Podcast * Website: The Curtains and Soft Furnishings Resource Library * Facebook: The Sew Much More Podcast * Facebook: The Curtains and Soft Furnishings Resource Library * Instagram: @ceildi * Instagram: @csf_resource_library * Email: ceilwdi@gmail.com
References and Resources: * “The Gap and the Gain” by Benjamin Hardy and Dan Sullivan * “How to Grow Your Small Business” by Donald Miller * “Unreasonable Hospitality” by Will Guidara * “Getting Things Done” by David Allan * “Buy Back Your Time” by Dan Martell * “Strong Like Water” by Aundi Kobler * “Try Softer” by Aundi Kobler * CFO2GO * Work with Me * Metrique Solutions * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”
250: Financials are the Foundation to Work Life Balance Joining me on the podcast today is Val Duvick. She is the owner of Val Marlene Creative. She is a Profit First coach and a business coach for those in creative industries. We're going to have so many awesome things to talk about today including Profit First, what it is like to be a creative, how to balance the energy between our left logical side and right creative side, as well as how to get to a happy, medium place where our financials are easy to look at and simple to maintain. I invite you to listen in.
Topics Mentioned: * Work life balance * Definition of success * For Now
Key Thoughts: * I tell people I'm allergic to numbers because it feels so intense that my brain just does not want to understand them, but I realized I had to if I wanted to have the type of business and work-life balance that I wanted. Val Duvick * The power of the numbers is what gives us the freedom to build the fence and to build the boundaries around our lives and our business. Michele Williams * We need to know the minimum, and we also need to know where you're headed. Once we have that in mind, we can fill in the rest, and it makes it more attainable. Val Duvick * I think part of success is recognizing those blessings so that we're not so always caught up on how much more we have to do and build and grow, but being thankful for how much more we already have. Michele Williams
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Val: * Website: www.valmarlene.com * Email: val@valmarlene.com * Instagram: @val_marlene_creative
References and Resources: * The Gain and the Gap by Benjamin Hardy and Dan Sullivan * CFO2Go * Work with Me * Metrique Solutions * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”
249: 5 Financial Mistakes Made at Year End On the podcast today, we're going to be talking about the five mistakes that business owners make at the end of the year. I want you to listen in and see if you are finding yourself falling into any of these traps so that you still have time to do something different.
Topics Mentioned: * Cash flow * Budgets * Debt
Key Thoughts: * I would say nine times out of ten, we're more likely to overspend a budget than to underspend a budget if we're not watching it and being accountable to that budget. Michele * If you find yourself in a cash flow negative situation, remember, that you always have to get cash flow neutral before you can go cash flow positive. Michele * Lifestyle creep is where every time you make a little more money, your lifestyle raises, and then you need more money, and then your lifestyle raises versus keeping your lifestyle where it is and letting the money be made and then letting it be saved. Michele * Businesses that get themselves in trouble don't manage that money properly, which means that they don't have a strong cash reserve. Michele
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * CFO2Go * Metrique Solutions * Episode 179: Setting and Revising Your Financial Goals * Episode 189: Reviewing Your Profit First Strategy * Episode 209: Metrique Solutions is Your Financial Partner in Business * Episode 234: How to Manage My Money in My Firm * Episode 243: Managing to a Budget in Your Design Firm * Episode 247: Using Debt Strategically in Your Business
248: All Roads Can Lead to Profit Today, I am excited to offer you a replay of an episode that I did back in 2018 with Mike Michaelowicz. You may know Mike, he is the author of a large number of books from Profit First to Clockwork to Surge, The Toilet Paper Entrepreneur , and The Pumpkin Plan. Mike and I had a really awesome conversation about how all roads can lead to profit if you set the correct coordinates. I really thought that as we're wrapping up this year, things have been shifting, they're a little bit different, we've been through a pandemic, and we've watched buying patterns change over the years and I think this is a great time to be reminded of the fact that we have agency and choice in our business and that those choices that we're making either lead us closer towards profit or further away from profit. With that being said, I want to introduce to you Mike Michaelowicz.
Topics Mentioned: * Profit * Real revenue * Sustainability and Responsibility * Ideal Clients and Target Markets
Thoughts from Mike: * Profit means that I continue to deliver what I intend to for my community.
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Clients want to know that your business is sustainable and sustainability is profitability.
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It is important to have a realignment of pride in profits.
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In The Toilet Paper Entrepreneur we learn that lack is our biggest advantage. Lack brings about innovative thinking and challenges us.
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In Pumpkin Plan we learn how to grow organically and healthily and to identify our best clients.
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Once we have clarity on a purpose, the journey becomes very rewarding.
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Surge teaches how to know your industry and to see what the next big thing is.
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Clockwork teaches that our business can be sustainable and not reliant just on us.
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Mike: * Website: https://mikemichalowicz.com/ * Twitter: https://twitter.com/MikeMichalowicz * Facebook: https://MikeMichalowiczFanPage/
References and Resources: * The Toilet Paper Entrepreneur by Mike Michaelowicz * The Pumpkin Plan by Mike Michaelowicz * Profit First by Mike Michaelowicz * Surge by Mike Michaelowicz * Clockwork by Mike Michaelowicz * E-Myth Revisited by Michael Gerber * CFO2Go * Work with Me * Metrique Solutions * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”
Joining me on the podcast today is Danielle Hendon. She is the owner of Four Corners CFO. Danielle loves to take big business ideas and break them down to support small businesses to reach that next goal, to grow and scale, or to just wrap their arms around their business. We're going to have a really great conversation today focusing on debt, such as good debt versus bad debt.
Topics Mentioned: * Debt * Intentionality * Understanding your financials
Key Thoughts: * Honestly, the difference between good and bad debt is the intention behind it. If you're going into debt, because you didn't do something, and it's a last resort, it's generally not the best type of debt to have. Danielle 11:37 * It's the fixing of the process because that's part of that intentionality, I teach an aim with intent methodology. It starts off by having a solid foundation and then creating intention, intentional budgets, intentional KPIs, and intentional spending patterns. Michele 15:28 * Every business, we've all got to start somewhere, and I tell people all the time that debt is such a loaded word, and it carries such a burden to us mentally, and money in general. Cash makes or breaks a business. Danielle 20:06 * It's really being aware of what's happening. Otherwise, everything is reactionary as opposed to being proactive with our money. Michele 34:53
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Danielle: * Email: danielle@4cornerscfo.com * Website: https://4cornerscfo.com * LinkedIn: @Danielle Hendon * Instagram: @4cornerscfo * Facebook: @4CornersCFO
References and Resources: * CFO2Go * Work with Me * Metrique Solutions * Episode 194 Understanding Your Financials with Melanie Lockert * Financial Courses with Michele Williams including “Understanding Your Financials”, “Master Your Profit”, and “Pricing Without Emotion”
246: Creating Good Financial Systems Joining me today is Kelcee Sparks with Elite Ops, and we are going to be talking about financials. This is always one of my favorite topics to talk about, and so I'm excited to see and to hear the questions that she has for me.
Topics Mentioned: * Basic financial concepts * Understanding your financials * Strategic planning * Profit First
Key Thoughts:
- The first is I think every business owner should understand their major anchor points, especially from a P&L. What does that mean? It means I think they need to understand revenue, and how money comes into their business. Michele
- Knowing our financials gives us the ability to know when we are going to do a task, how much more it's going to cost us or save us, and then it also gives us the ability to know if I say yes over here, then I need to say no over here. Michele
- One I would say really is about creating some type some type of Profit First strategy, which means, first and foremost, watching the money, looking at the money, knowing when the money comes in, knowing how much we need to pay out every month kind of tells me how much I need to be bringing in every month to satisfy that particular need of the company. Michele
It's about having a good accounting system, having a time tracking system, and then having a system like Metrique that pulls it all together to be able to look at it. Michele
Contact Michele:
Email: Team@ScarletThreadConsulting.com
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL
Website: ScarletThreadConsulting.com
LinkedIn: Michele Williams
References and Resources:
Work with Me
CFO to Go
Metrique Solutions
Profit First by Mike Michalowicz
245: Investing in Yourself to Build Your Business Joining me on the podcast today is Amanda Scotto, principal designer and owner of AMA Designs and Interiors in New Jersey. Amanda is a client of mine, and she is going to be sharing her journey starting with where she began, some of her early successes and pivots that she's had in her business, and challenges that she's encountered. She is very transparent, and freely shares with us, giving us an opportunity to learn about resilience, planning, and raising our hand when we need help. It was an awesome conversation and I invite you to listen in.
Topics Mentioned: * Cash flow * Investment * Growth * Pivots in business
Key Thoughts: * I was always inspired by design and architecture and construction from a very young age. My father and grandfather owned a construction business. I basically grew up on the sites, my mom would drive me to visit, and I would have lunch in the trailer with my dad and grandpa. It was at that point where my grandpa sat me on his lap, and he taught me how to read the blueprints and then he showed me how the sketches became the framework, and the framework became the building. Amanda 2:09 * Everybody has to start somewhere. I want to invite you as we take a moment to look back at where you started, let's look back with grace. Let's look back with appreciation. Let's look back without embarrassment. I mean, we all start somewhere. If anybody listening to this podcast hears anything, I want them to not be afraid of their own origin story or embarrassed of their own or even when it takes twists and turns, knocks you down and skins your knees. It's your story and it is part of what has you in the wonderful position that you are in today. Michele 8:24 * That is when I started working with you and we've corrected the problem. I made it through. I'm doing so much better than before and now I have the confidence in my numbers. I am a totally different person than I was a year ago. I'm pulling reports. I'm analyzing my numbers. I'm sitting down with my accountant. we're having these educated conversations on making decisions based on numbers, margins, percentages, like all these things that I did not have the competence, or the knowingness and I can actually happily say that I'm getting my new office space soon. Amanda 43:28 * I think that's what a lot of people miss is the net profit. They look at net profit and think that's profit, I can take it home or look in the bank account and think is there I've paid everything I can take it home instead of saying but what does that bucket of money need to do in the future and have I set it up to do that? And that's a big question to ask. What is the job responsibility of your net profit? Michele 44:41
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Amanda: * Email: byamadesigns@gmail.com * Website: www.byamadesigns.com * Instagram: @amadesignsinteriors * Facebook: @byamadesigns
References and Resources: * Work with Me * Metrique Solutions
244: Get Uncomfortable by Choice in Your Design Firm Joining me on the podcast today are Joann Kandrac and Kelly Kole of Kandrac & Kole Interior Designs based here in the Atlanta area. Kelly and Joann have been together for about 18 years, and they do something every year that has just really been inspiring to me. They go on a mission trip to Guatemala to help others in need. On the podcast today, Kelly and Joann are going to share about the process of how they came together as business owners, how they implemented and embraced this mission trip, and how they look forward to it every year. There is truly profit in giving to others and you're going to experience that on the podcast today.
Topics Mentioned: * Philanthropy * Perspective * Gap and gain
Key Thoughts: * But for ourselves to stay safe sane, and to have a good attitude all the time, that is kind of where we come from that we have our heads on straight. I have to say giving back and going to Guatemala and all those things have helped us to maintain that, so we don't get too wrapped up in ourselves and stupid stuff. Kelly 14:58 * Yes, I think perspective is a really big deal. Because you need to be reminded, you get kind of on that wheel and if you don't remind yourself, you can get carried away. So, I feel like we do have a really good perspective, we don't work ourselves to the grind. Joann 17:17 * So, I think for us working in luxury environments, because it is such a big difference in some cases. Honestly, the longer we stay in our luxury ways and luxury businesses, the more we become accustomed to that, and it's important, I'm not saying any of it's wrong, it's just a very different view. The beauty that I think you have, in your perspective, is you've seen both. Michele 33:30 * Get uncomfortable, put yourself in that place, and go help somebody. Let them be a blessing to you because it'll change the way you deal with other people, the way you approach your business, the way you calm your anxieties, and how you are always chasing that gap that ideal that you'll never get and cause you to relax. It'll help you. Kelly 34:29 * You know, to look back at that house, it's almost like when we're there, you're kind of on autopilot. You're not sitting here thinking about, oh, I'm hungry, you're just doing it. You're with the group and everybody's doing it and it just kind of happens. It's really amazing. It really is, and I urge people to try to do it. Joann 38:30 * I say that because sometimes for people who have never done this, this feels so big and so overwhelming, and like there needs to be so much that happens to be ready. That it really is about creating it the same way as if it is a personal vacation. It gets put on the calendar, you plan up to it, you work around it, and you keep going. Michele 44:48
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Joann and Kelly: * Email: joann@kandrac-kole.com * Website: https://www.kandrac-kole.com * Instagram: @kandarckole * Facebook: @kandracandkole * LinkedIn: Kandrac and Kole * Pinterest: @KandracKole * Twitter: @KandracKole
References and Resources: * Work with Me * Gap and the Gain * Dwell with Dignity * Catalyst Resources International * Sunshine on a Ranney Day * Partly Sunny * No Longer Bound * Dwell With Dignity * Kandrac and Kole podcast
242: Dressing With Confidence in Your Business Joining me on the podcast today is Angela Foster. She is a style coach who is going to help us focus on how to be confident in what we're wearing no matter where we're going, and no matter what our sizes. We can all dress to accentuate our best features. Listen in and learn how.
Topics Mentioned: * Confidence in dressing for any occasion * Tools to shop with confidence * Accentuating and minimizing with confidence
Key Thoughts: * We're starting our day with our own internal mind chatter that is not setting us up for confidence and success and joy and all those things that we need to be who we need to be in our day-to-day job.” Michele 8:58 * There are also the colors that look best on your skin tone, so we nail those down. This may not be the sexiest part of it, but the thing that makes it so powerful is that when 80% of your closet is in a certain color palette, it makes mixing and matching so much easier. Angela 14:37 * Think about it this way, as designers, we would never go in and start specking furniture for a room that we didn't know the sizes of, we would never do that. We would go in, we would know the sizes of the walls, we would know where the doors are, we would know what we wanted to accentuate and what we wanted to minimize, and we would know where we wanted the focal point of that room to be. We would take those measurements, we would create a floor plan, and then start buying furniture pieces of the size and proportion that fit into that plan. That's how we do it. Why do we not do that in our own clothing, I don't even know my current sizes. Michele 40:14 * Make a list. Be specific. Know your numbers, know how the brand fits you and I can help with that. Have a list and stick to your list. Angela 44:20
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Angela: * Email: hello@angelastylecoach.com * Website: https://angelastylecoach.com * Instagram: @angelastylecoach * Facebook: @AngelaFosterStyleCoach * LinkedIn: @angelapetitestylecoach * Pinterest: https://www.pinterest.com/5047055232cfd4923bc1db5efe6095/
References and Resources: * Work with Me * Growth Mindset by Carol Dweck * Angela’s free workbook
241: Creating Space for Your Business to Grow Joining me today is Rasheeda Gray of Gray Space Interiors. Rasheeda started her business 7 years ago as part time and then evolved into full time business ownership. In this episode we will discuss the journey to growing a business and leading a team. Rasheeda shares her lessons learned and you don’t want to miss them.
Topics Mentioned: * Life Vision * Goals with connection * Process * New beginnings
Key Thoughts: * Everything happens for a reason and so I think my marketing degree, my business sense, and I have an MBA as well, those sorts of experiences and education have sort of prepared me for where I am today. Rasheeda 8:06 * We're all on this journey, this life journey, and where we start doesn't have to be where we end. As a matter of fact, I hope that it's not unless it is perfect when we start. But we have the ability to move through it and to try different things. Michele 9:42 * It was as simple as profit and loss, and realizing our P&L statement isn’t the only part of the story, you also need to look at the balance sheet. That's when I realized, oh, this is where we aren't doing so well. Rasheeda 36:09 * It was powerful information and now you can use that information to get what you want on the other side. You can affect change. That's why my tagline is what you own, you can change. Michele 39:50
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Rasheeda: * Email: rasheeda@grayspaceinteriors.com * Instagram: @grayspaceinteriors * Facebook: @grayspaceinteriordesign * Website: https://grayspaceinteriors.com/
References and Resources: * Work with Me * Metrique Solutions * Atomic Habits by James Clear * E-Myth by Michael E Gerber * Clock Work by Mike Michalowicz * Good to Great by Jim Collins * House Beautiful Whole Home 2023
Joining me on the podcast today is Kelcee Sparks with Elite Ops. She has been with us on previous podcasts where we are answering the questions that you all have sent in and today, we're focusing on processes. We are going to answer questions on how to get started, how to organize and structure your process, where to put your processes, who will help write the processes, and even discuss the importance and the mindset behind a process. Today’s podcast has lots of good information and we thank you for joining.
Topics Mentioned: * Process Creation * Mindset * KPIs
Key Thoughts: * One of the things that I love is to have whoever is already in a job, let them document what they do, or their part of the process and then somebody else read it and see if they can do it. Michele 8:10 * That's why creating those standard processes is so important because when there is an error, you can go back through your process and understand it and fix it for next time. Kelcee 13:54 * The other thing that I would say is to find the processes that matter the most to the success of your company because those are the ones that we really want to try to document as quickly as possible. Michele 24:32 * One of the things that I brought into my business from my industrial engineering background was a continuous process improvement mentality. Kelcee 31:16 * Until we realize that processes are important to the success of our business, we will not give them time. Michele 36:14
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Kelcee: * Facebook: Elite Ops Support * Instagram: @EliteOpsSupport
References and Resources: * Work with Me * E-Myth Revisited * The Miracle Morning
239: Creating a Vision for Your Life and Business With me on the podcast today is Kathy Geffen of Kathy Geffen Designs and Fine Tune Coaching. Kathy has had an amazing 25-year career in corporate America doing all types of organizational management, started a drapery workroom in 2015, and has recently launched Fine Tune Coaching. We’re going to have a great conversation about what it's like to overlap with different areas of business, what makes it so important to be connected to your goals, and to be able to organize them in a way that they can be achieved. There is really great information in this podcast, and I hope you enjoy it. .
Topics Mentioned: * Life Vision * Goals with connection * Process * New beginnings
Key Thoughts: * But it was the first time in my life, I could say that I have a goal that I want, and I understand how I have control to get to that goal. Kathy 10:12
- In other words, the goal is not just the end result, it's the process of growing and taking baby steps to get there so that if I'm thrown off a little here a little there, say I fall a little short of the goal, I'm not like beating myself up that I didn't meet the goal. Michele 13:17
- I want to help the business owner understand how to make their day and their business achieve their goals. Kathy 31:21
- When you help that business owner, even create a Kanban Board, and understand the concept behind it, yes, it took some of your time, even if it was 10 minutes, and you didn't even recognize the impact, sometimes those are the biggest impacts when we don't even recognize it. Michele 36:19
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Kathy: * Email: kathygeffendesign@gmail.com
- Instagram: @finetunecoaching
- Instagram: @kathygeffendesign
- Website: www.kathygeffendesign.com
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Website: www.finetunecoaching.com
References and Resources: * Work with Me * Beyond Booked Solid by Michael Port * Metrique Solutions
238: Diversifying Your Business With us today is Anastasia Harrison of AHD&CO as well as with AHD Trade. Anastasia is a licensed architect and an interior designer with a primary location in New Jersey. Her business has grown and changed since she first started and we're going to be talking about how it has diversified with a trade-only showroom. Join us and listen in. I hope there are some great takeaways for you.
Topics Mentioned: * Different Income Streams * Internal Growth * Coaching Employees * Leveraging Relationships
* don't want an employee for two to three years; I want an employee for life. Anastasia 22:12
- From my standpoint and working with you on this, this has been a thought-out process it's been well over a year in the creation. Michele 24:46
- We took the time that we were building this space out to have strategic meetings with all of our vendors. Anastasia 27:17
- What I hear you saying is when you place the order, we want to carry some of that mental load so that you don't have to carry it. We're going to update you so that you don't have to chase us to get the answer. Michele 33:57
- The person building a brand new house, the woman buying a sofa for her client, they're all the same to me. They're all clients, and they deserve the same mission, vision, and values that we have as a firm. Anastasia 34:13
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Anastasia: * Email: anastasia@ahdandco.com
- Facebook: ahddesigncenter
- Facebook: ahdandcodesignstudio
- Instagram: @ahdandco
- Instagram: @ahddesigncenter
- Website: www.ahdandco.com
References and Resources: * Work with Me- Fix This by Mike Michalowicz
237: What Goes in a Strategic Plan Joining me on the podcast today is Kelcee with Elite Ops. She has been with us before and we are going to be doing question and answer time focused on strategic planning. We look forward to your questions so please continue to send those in to us at team@ScarletthreadConsulting.com.
Topics Mentioned: * Strategy * Planning * Metrics
Key Thoughts: * Anything that we're close to, we see more clearly than things that are far off like that. If we can just hold that image for a minute, and then think about planning, anything that is really close to us, we can see more clearly anything that's further out takes longer. Michele 3:54 * The thing about a strategic plan is you want to plan it so that it's detailed enough to be a path to move you closer to where you want to get but not so tightly that you can't move and that you can't adjust or be fluid with the needs of your company at that time. Michele 7:19 * I don't think that it's possible to create a detailed plan without some idea of how to market. Michele 20:34 * I prefer in a strategic plan to have high-level key performance indicators, that these are the things that I'm going to measure to see if I got there. Michele 23:22 * The more we set up a plan for success, the more likely we are to succeed. Without a plan at all, the more likely we are to fail. Michele 31:06
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me
236: How to Work with a Tax Strategist with Shauna Wekherlien On the podcast today is Shauna Wekherlien, lovingly known as the Tax Goddess. Shauna is in the top 1% of tax strategists in the nation. Her clients employ the tax strategies she recommends and her firm has an average of 6.9% tax rate. We are going to have a great discussion about taxes, how CPAs and strategists work together, and about the IRS Dirty Dozen.
Topics Mentioned: * IRS Dirty Dozen * Captive Insurance * Write your dog off on your taxes * Augusta Rule or Masters Exemption * Aggression Scale
Key Thoughts: * I am all about making profit, but I'm also all about you keeping it, for whatever reason you want to use it. 9:56 Shauna * I usually tell my clients, my goal is to take you as close to the edge of what the tax laws say, without pushing you over. 10:45 Michele * Every strategy has a good version of a strategy and a bad version of the strategy. 17:06 Shauna * When we make some of these decisions with our tax strategist, we also need to realize that some of these decisions are not one-year decisions, they are decisions that have a longer-term implication. 27:20 Michele * You have to be surrounded by a team that matches who you are because you are you, you are the client, you are the center of the focus of the world, from that standpoint of the team that is focused on you. 47:26 Shauna * I think that's so important because sometimes when we're talking finances and taxes, it feels hairy and scary and nasty and there are parts of it that really are not going to diminish that, but it also is something that we can get our arms around if we have the right people in our team. 51:19 Michele
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Shauna: * Email: shauna@taxgoddess.com * Websites: https://taxgoddess.com/ * LinkedIn: https://www.linkedin.com/in/taxgoddess/ * Facebook: https://www.facebook.com/thetaxgoddess * Instagram: https://www.instagram.com/thetaxgoddess/ * Twitter: https://twitter.com/TaxGoddess * Youtube: @TaxGoddess
References and Resources: * Work with Me * Profit First by Mike Michalowicz
235: How to be Eternally Optimistic about Your Finances with Matt Drinkhahn Joining me today is Matt Drinkhahn of the Eternal Optimist Podcast and Pro Coach Advisors. Matt is full of information, enthusiasm, and excitement about understanding our numbers, especially surrounding financial literacy. Matt is going to share about his journey including some of his embarrassment at not knowing his numbers and then harnessing the power behind those numbers to scale and grow businesses. This is a fun enjoyable conversation, and I invite you to listen in and take notes.
Topics Mentioned: * Financial Ownership * Overcoming Shame * Financial Literacy * Optimism
Key Thoughts: * I think sometimes we're so used to learning by only getting it right and not a lot of learning comes from failure. The older I get, the more I'm embracing failure as a learning tool. 10:18 Michele
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The question is what am I going to do today that my future self will thank me for? 13:40 Matt
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Now you have a lot of women who are in companies that are making multiple millions of dollars, and they don't even have the background, because they've just never been taught that. 19:53 Michele
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I just want my story to be a testimony for others that it may feel like a dark place and maybe a stressor, you can get over that you can make it through one step at a time. 22:55 Matt
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My whole theory behind the podcast is profitability is about more than money. It's profitability of communication, the profitability of time, of energy, and of the whole thing. 31:41 Michele
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One of the biggest challenges that I see in recovering perfectionists and highly functioning workaholics is they don't know how to let go and they don't know how to delegate effectively. 43:07 Matt
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Matt: * Email: matt@proadvisorcoach.com * Websites: www.proadvisorcoach.com and www.eternaloptimistpodcast.com * LinkedIn: Matt Drinkhahn * Facebook: Eternal Optimist Podcast * Instagram: @EternalOptimist Podcast and @CoachDrink * Twitter: @PodcastOptimist and @MDrinkhahn * Youtube: Eternal Optimist Podcast
References and Resources: * Work with Me * Metrique Solutions * Failing Forward by John C. Maxwell * Profit First by Mike Michalowicz * Michele’s 3 Financial Courses * Simple Numbers, Straight Talk, Big Profit
234: How to Manage My Money in My Firm Joining me on the podcast today is Kelcee with Elite Ops. She has been with us before and we are going to dig into some questions all around the financial aspects, kind of the manage your money, and my program. Thank you for sending in your questions and please continue to do that as we continue working through this series.
Topics Mentioned:
- Pricing
- Cash Flow
- Billing
- Strategic Plan
Thoughts from Michele: * We can’t measure everything all the time and need KPIs for measuring what is most important. * KPIs can be determined by knowing the goals your firm has for each quarter and measuring to the goals consistently. * Build SOPs to support your measuring goals. * Charging to grow allows for growth and reinvestment in your firm. * Having a strategic plan is crucial to grow your business. * Create a plan then build your time and money based on that plan for profitability. * If you don't know where every dollar goes, you don't know how that time is going to be spent then you need to halt and think about what you're doing. * Know your process. * Look at your business in cash and accrual. * See the 360 view of your business. * To protect what you are building, you need three to six months of a cushion to carry operating expenses. * Change allows us to get something different.
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Profit First by Mike Michalowicz * Click here to send questions for Michele * Metrique 1-month free code: 1mofree
233: How to Remove Summer Stress Every year around this time when my kids were young, I would be thinking about how we would handle our summer plans. Which camps were they going to and when? How could I have a more relaxed schedule at work while moving projects along but also being mom? Maybe you don’t have kids, but do want a more relaxed summer schedule – no matter what, listen in to this episode originally recorded in 2019. The lessons in time management and project expectations still apply.
Topics Mentioned:
- Delegation
- Fractional Support
- Accidental Business Owner
- Systems
Thoughts from Michele: * Our industry is heavily saturated with women.
- We cannot do it all at the same time. Something has to give.
- You have to be upfront with your clients with what your summer plans are.
- We have to have realistic expectations.
- We do not want to make a decision in a vacuum.
- There are always trade-offs with whatever decision you make.
- Try to be as creative as you can.
- You do not have to do it the way I did it. Do what works for you.
- Anytime you stop marketing your business, it can take us 3 to 6 months to gain back your footing.
- Make a plan based on choices and decisions.
- Commit to the plan. Work the plan.
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * PIAC EP. 05 - Shame - Listen Today * Master Your Profit™ - Enroll Today * The Designers' Inner Circle - Become a Member Today!
Joining us today is Shayna Rose of Shayna Rose Interiors and 4DBiz. Shayna turned a tragic event into a new business model that changes how interior designers run their business. Listen in as we discuss the hallmarks of overwhelm and how to get the help you need to run your business and reclaim your time.
Topics Mentioned: * Delegation * Fractional Support * Accidental Business Owner * Systems
Key Thoughts: * I always like to say my success has failed upwards. Everything has been created around a failure and it's the best thing you can go through when you hit that problem, whether it's working with a client, whether it's integrating an E-commerce, whether it's trying to build new avenues of business, or a team, you have to learn some way. Shayna Rose (11:37) * Because the payoff is the only way to reclaim time. This delegation is super important because that's how we reclaim our time to do what we can do best. Michele (29:26) * What's your retirement plan? Hopefully, it's the sale of that business. Hopefully, you have operations outlined, a system of procedures outlined, how you're obtaining clients, and how you're controlling those clients. Shayna Rose (36:01) * We can be our worst enemy and we're the ones that get in our own way. I want to encourage you to recognize that and ask for help. It doesn't have to be that way. Michele (45:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Shayna: * Email: shayna@4dbiz.com * Facebook: 4Dbiz * Website: 4Dbiz.com * LinkedIn: 4Dbiz * YouTube: @4dbiz761
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Profit First by Mike Michalowicz * Clockwork: Design Your Business to Run Itself by Mike Michalowicz * Toilet Paper Entrepreneur by Mike Michalowicz * The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E Gerber * Failing Forward: Turning Mistakes into Stepping Stones for Success by John C. Maxwell
231: Q & A with Michele Today I have with me Kelcee Sparks, who is with Elite Ops Support. She has a team of people that support designers and other industries with operational support, VA support, and she also provides operations support for me personally. She's going to ask me some questions today so that we can share a little bit more information on some of the questions that you all have been sending in and have asked. Enjoy the podcast.
If people want to send in business questions please continue to send them in, we'll answer them. The majority of the podcasts that we are putting out are because people have asked questions and either we answer them in my solo podcast, or we go find somebody who can talk about it. If there are topics and ideas that people want to share, I'd love to hear them.
Topics Mentioned: * Build a solid foundation * Allow for growth * Work on being centered not balanced * Ask for help
Key Thoughts: * Know your own why, know your own values, and give yourself space to evolve and grow in your life and your business. Michele 15:10
- We can do it all, I just don't think we can do it all at once or without help. Michele 18:53
- I'm all about delegating, and not dumping, but how can I push the work to a different level in my company where it can be done well and support the brand. It doesn't always have to be the owner. Michele 25:57
- Know who you are, know what you want to do, know where your deal breakers are, know what you won’t do, and then just build a business that you love, and then get help doing it. Michele 36:12
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Clockwork: Design Your Business to Run Itself by Mike Michalowicz * Who’s In Your Room by Misner, Emery and Sapio
230: Become Your Own Banker to Control Your Finances with Mark Willis Joining me on the podcast today is Mark Willis. He's the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Mark is going to lead us on the journey of understanding our financials better. We're going to be looking at how to be the bank for our company, what it means to take back ownership, money, and lending instead of being a slave to the banks or to somebody else holding a note over our head or having so much debt that we don't know how to get out from under it.
Mark will share stories and give us methodologies and mindset changes so that we too can be in full control of our finances.
Topics Mentioned: * Cost of Debt * Building Wealth * Money Mindset * Generational Wealth
Key Thoughts: + That became my mantra, I want to be better than debt free. And so, as a financial planner, now, I help people become better than debt free. I have since paid off my debts. But more than that, I bought them back by becoming my own banker, paying the student loan snakes off, and actually collecting that money from myself to get a profit off the debt that I once paid to somebody else. Mark Willis (6:03) + It's kind of the Profit First dilemma that we see all the money sitting in the bank account, and they just start taking it. What they've done in essence, is they rob the company coffers to live a lavish lifestyle, to go on trips to fix up their house, to do whatever, to pay a medical bill. I don't care what it is. But they took it from the business prior to when it should have been taken. And now the business is running lean, and they're struggling. And it was the entire lifeblood to build their life and they just destroyed the lifeblood. Michele (23:23) + When you have the bank, you control the whole card table. Imagine how this would work in almost every business. Mark Willis (42:07) + Today has been all about taking back control. And I want to encourage you to do that. Because if you own it, you can change it. And that's the beautiful thing about profit. We're building it. Michele (50:09) Contact Michele: + Email: Team@ScarletThreadConsulting.com + Facebook: Scarlet Thread Consulting + Instagram: @ScarletThreadATL + Website: ScarletThreadConsulting.com + LinkedIn: Michele Williams Contact Mark: + Email: mark@lakegrowth.com + Website: https://lakegrowth.com/ + Instagram: https://www.instagram.com/notyouraveragefinancial/ + Facebook: https://www.facebook.com/lakegrowth + LinkedIn: https://www.linkedin.com/in/marklakegrowth/ + Twitter: https://twitter.com/LakeGrowth References and Resources: + Work with Me + Metrique Solutions + Scarlet Thread Consulting + Debt for the First 5000 Years by David Graeber + Profit First by Mike Michalowicz
229: The Journey of Buying a Business with Julie Murphy With us on the podcast today is Julie Murphy. Julie is the Owner of Designer Draperies of Boston, a full service to the trade workroom. She began as a home-based business in 2006. In 2014 she purchased Designer Draperies of Boston and merged the 2 businesses. She has tripled the size of her team as well as sales since transfer of ownership. She attributes her growth and continued success on 3 things: Quality, Effective Communication and Exemplary Customer Service.
Today we will focus on her journey to make a business acquisition – the highs and the lows.
Topics Mentioned: * Purchase type * Policies and Procedures * Employee retention * Support Teams
Thank you for joining us today. If you have questions about purchasing a workroom, feel free to reach out to Julie. And if you want to get your business pulled together – not just to sell – but to enjoy the benefits of a well-run business for yourself, sign up for a discovery call at scarletthreadconsulting.com. Choose to be organized which leads to profitability – because profit doesn’t happen by accident.
Key Thoughts: + I wished I had reached out to somebody, at some point, and waved my white flag, and said, I need help in figuring out how to deal with business growth. Julie Murphy (45:59) + I still talk to clients and people all the time that are using pen and paper and I get it or they're using Excel to run all of their financials. I get it. I did it too, for a couple of years, until I realized that as you said, I could not get reports. I could not see where I was, I couldn't understand the impact or the cash flow or any of those things, what was happening truly happening at a glance, even if I was keeping up with those details to hand off to my accountant in a year. They were not helping me manage the day-to-day of what I was doing. I mean, that's the whole reason that we've even built Metrique is to take all of that data and to be able to put it in one place to look at it because there is knowledge and power in looking at those things. Michele Williams (48:38) + I would say really look into what the business has for documented procedures. The other thing that I'm running into too, is what's in place for your staff, human resource-wise. As a small business, we don't have to have certain things. Even if you have three employees, I think it's important to make sure that you are doing everything that you're supposed to be doing. Julie Murphy (54:00) + The more you document, the more you keep up with your financials, and the more you show that you're able to be paid and then the beautiful thing is if you can show that growth, that continual growth year over year over year, even at 10%. Michele Williams (57:54) Contact Michele: + Email: Team@ScarletThreadConsulting.com + Facebook: Scarlet Thread Consulting + Instagram: @ScarletThreadATL + Website: ScarletThreadConsulting.com + LinkedIn: Michele Williams Contact Ericka: + Email: julie@designerdraperiesofboston.com + Website: http://www.designerdraperiesofboston.com + Instagram: @designerdraperiesofboston + Facebook: @designerdraperiesboston References and Resources: + Work with Me + Metrique Solutions + Scarlet Thread Consulting
228: Why Attending Industry Events is Profitable with Michele Williams How many of you go to an industry conference at least once a year? On our podcast today, I am just returning from the International Window Coverings Expo. And I'm going to share with you 10 things that really stood out to me while I was there.
Topics Mentioned: * Industry Events * Learning * Travel
Key Thoughts: * Not everyone is looking for the same thing. * Authentic connection requires you to block out the noise in the room to ask questions and listen. * Real business decisions are made. * Energy and excitement for the possibilities is create and restored. * Not everyone thinks alike – you will find some like you and some very different. * Laughter in the course of doing business is good medicine. * Friendships that are made at these events can be very real. * Vendors want to help us. * There is as much education over dinner or drinks as there is in a classroom or on the vendor floor. * These are important events to attend.
Scarlet Thread exists to support business owners in closing the literacy gap in their business. We accomplish this through this podcast, our blogs, educational resources, coaching and Metrique Solutions. If you want to talk about your business and your goals – sign up for a discovery call at scarletthreadconsulting.com. Choose to be profitable – because profit doesn’t happen by accident.
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting
227: Using Your Past to Create Your Story with Ericka Saurit Joining me on the podcast today is Ericka Saurit. She is the founder of Saurit Creative, which is a boutique brand marketing agency. This is really going to be such a fun discussion. We’re going to talk about story, leaning into your story and inviting people in. Ericka has such an honest and curious approach. I love that. I really think you're going to learn a lot not only about your brand and marketing, but about being able to invite people in to share your story and to feel a part of it, and to use words and emotions to do that. Enjoy the podcast.
Topics Mentioned: * Brand mindset * Emotional connection * Curiosity * Business values
Key Thoughts: * Even the best ideas, even the very best interior design will not matter if you can't present it, if you can't sell it to your client, if you can't sell the right story. Ericka Saurit (12:46) * I'm happy that we can make use of our varied experiences, to live out what's in our heart and the joy that it brings us in doing what we do. It is something that has been able to carry forward. Pulling all of the things together, the love of numbers, the way you tell stories with words, I can tell stories with numbers, I can look at them, I can see what they're showing you. I can tell you where it's going to go, I can tell you how it's going to play out, I can tell you the changes we need to make to change the story. It doesn't have to stay that static story; I can tell you how to immerse yourself into the financials. Michele (22:14) * Creativity doesn't have to manifest itself as like an artist or musician or writer, like, I think some of I mean, you'll, you know, this, like some of the most brilliant minds, in finance and in math, and in physics, and in any kind of, like, any industry, creativity is essential to innovation. Ericka Saurit (25:53) * Whether we're making a marketing decision, a hiring decision, a process decision or a financial decision, it must be in alignment with why you're here and what you're trying to do. Michele (39:29)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ericka: * Email: ericka@sauritcreative.com * Website: Saurit Creative * Instagram: @sauritcreative * LinkedIn: Ericka Saurit
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting
226: Using Strategy to Inform Your Marketing with Brooke Chapman Joining me today is Brooke Chapman. She's the executive director of Three by 3 and Nine Boxes. Brooke has a proven track record in helping small businesses really create a strategy around their marketing. Today we're going to be talking about strategy versus tactics in your business with regard to marketing. Brooke uses a phrase that made me laugh, she calls it random acts of marketing. That's when we're just doing tactical work instead of strategy work. So listen today and see if there are some changes that you can make to your business to be more strategic.
Topics Mentioned: * Strategy vs. tactics * Market position * Clarity in messaging * Buying triggers
Key Thoughts: * When we think about marketing tactics, it's channels, it's your website is, you know, the suite of brochures that you're handing to clients. It's your social media pages, it's the campaigns that you run through Google. But if we think about what strategy is, it's really about understanding your market position and your differentiation from your customers. Brooke Chapman (5:31) * It is so difficult for me or any of my team to guide clients to move forward to even find the right marketing strategist to work with if we don't know who they are. That foundation serves as the backbone for everything, not just to build your business strategy. Michele (7:06) * Can you afford not to be in the market and be in business today without clarity? Because if you're not clear, your customers are not going to be clear. Brooke Chapman (8:22) * I think that's what's so interesting about strategy versus tactics. With everything shifting and changing, if we don't have a view of the overall strategy, we can sometimes get twisted up with those tactics, then we're spending money where we shouldn't. Michele (32:54)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Brooke: * Email: bchapman@threeby3.com * Website: Three by 3 * Instagram: @designer.elite.co * LinkedIn: Brooke Chapman
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Get Your Score
225: How to Determine When to Raise Rates and When to Absorb Costs WITH MICHELE WILLIAMS As a business owner, one of the biggest challenges you face is managing your pricing strategy in response to fluctuating costs. Pricing is a crucial element that can determine the success or failure of a company. On the podcast today we will explore how to manage this in your business.
Topics Mentioned: * Cost management * Brand promise * Pricing structure * Strategy
Key Thoughts: * Setting the right price for products or services is essential to ensure profitability, but sometimes external factors can lead to higher costs that may require a company to make tough decisions. Michele (1:03) * When you begin to incur higher costs as a business owner, one viable option is to adjust pricing accordingly. Increasing the price of products or services can help offset the additional expenses. Michele (1:59) * When facing higher costs, you have the option to absorb the additional expenses and reduce profitability. This can be a difficult decision, as it may lead to short-term losses, but can lead to long-term benefits. Michele (3:59) * There is a sweet spot for every business which might mean a minimal increase in pricing along with internal expense reduction strategies to mitigate loss of profitability. Michele (5:25)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Scarlet Thread Consulting * Metrique Solutions * Sign up for a Discovery Call
224: Delegating to Free Your Time with Dominique Deraiche Joining me today on the podcast is Dominique Deraiche, with Designer Elite. She is a co-founder of Designer Elite, which provides Operations and Support for interior designers. Dom and I are going to have an awesome conversation on how to get help, how to determine when we're in overwhelm, and how to ask for support and delegate without dumping. Enjoy.
Topics Mentioned: * Delegate * Virtual assistant * Overwhelm
Key Thoughts: * It's very hard to say that we're process driven because everything's so custom, and it is custom. But having a process to work within then allows us the freedom to be so creative. Michele (4:32) * Some of the ways you could determine that you really need to reach out for help is if you have a huge to-do list. There are pieces of your business that are slipping through the cracks, you're pushing out projects because you're just so overwhelmed. Maybe you're completely turning away projects. These are all key indications that you should be reaching out for help and delegating some. Dominique Deraiche (9:25) * One of the ways that I suggest preparing to make it work with a virtual assistant is having an idea of what it is we think we need. Michele (17:22) * I always set the expectation, that we need to hire the right amount of people who are going to be specialists in these various areas. It's really rare to find one person who can mold themselves into all aspects of your business. Dominique Deraiche (23:16)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Dominique: * Email: dom@eliteopssupport.com * Website: http://www.eliteopssupport.com/ * Instagram: @designer.elite.co * LinkedIn: https://www.linkedin.com/in/dom-deraiche-65aa09240/
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Ep 135 How Successful Interior Designers Delegate to Their Team with Michele Williams
223: Functional Fitness for the Health of your Body and Business with Barbi Burris Joining us on the podcast today is Barbi Burris. Barbi is the owner of Full Well fitness and has a signature program the Well Stretched Life. She is a Christ follower, a flight attendant, a certified fitness instructor - she does all the things. She knows what it's like to have a very busy life and to try to work in being fit at the same time. And you know, that's the life that many of us have, we're really, really busy. We need to take care of ourselves. Our conversation today is going to be centered on how we can take fitness and put it into our life in doable doses and why that's so important. Welcome to the podcast.
Topics Mentioned: * Holistic fitness * Strength and Stretch * Doable Dose * New Habits
Key Thoughts: * Whether you're sitting or you're standing, we all have jobs or lifestyle factors that we're doing repeated movements. Barbi Burris (7:23) * I want to go and not have to think about it. The truth of the matter is, I'm still thinking, and that's what Pilates and you have taught me is that I'm not going to make you think Michele in this moment about the movement, but I want you to be reconnected to your body, I want you to think about your body. Michele (15:23) * In order to get to where you want to go, you have to be able to change in the moment, what you're doing to meet that angle. And they change as we get older because our bodies change. It's that awareness factor. And I do teach that and I call it ABCs. Awareness before change. It is that connecting brain and body and being aware so that you can get to that profit line that you need, so that you can do more of what you love. Barbi Burris (17:17) * Awareness of what's happening around us awareness of how we feel awareness of our team, right just that awareness. And then gives us such information and input to make the next decision. Michele (29:51)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Barbi: * Email: barbi@fullwellfitness.com * Website: Full Well Fitness * Facebook: Barbi Burris * Instagram: @barbiburris
References and Resources: * Work with Me * Metrique Solutions * Scarlet Thread Consulting * Rise and Shine Guide - Barbi Burris * Ep 40: A Strong Core for Body and Business with Kolleen Losch
222: Quiet Quitting in the Workplace WITH MICHELE WILLIAMS Have you heard of quiet quitting? Maybe you have seen or felt it in your business or when speaking with a colleague. Quiet quitting is defined as an emotional quitting instead of physically doing so. On the podcast today we are exploring quiet quitting. What it is, how it occurs, how to spot it and hopefully stop it before it escalates.
Topics Mentioned: * Disengaged * Lack of motivation * Employee health * Connected workplace
Key Thoughts: * Quiet quitting is a thing! And we are seeing it more and more in the workplace. It is defined as emotionally quitting – tapping out, all while physically still coming in and doing the job. Michele (1:13) * Every person on the team should know the high level of what the business does, why it does it, who it serves and how their job fits in. Michele (1:58) * Quiet quitting, when hitting its peak, can show that expectations are out of control and that team members are demanding a realignment. Michele (6:37) * One of the best ways to reduce quiet quitting is to have one meaningful conversation each week with each employee lasting 15-30 minutes. Michele (7:30)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Scarlet Thread Consulting * Metrique Solutions * Sign up for a Discovery Call
221: Niching in Your Design Business From the Start with Kaitlin Brophy Joining me on the podcast today is Kaitlin Brophy with Brook and Elm. What I love about the conversation that we're about to have is that it's going to be focused on creating a niche company from the very beginning, using skill sets from a prior career, and also just building a business with intentionality. So I hope you enjoy the podcast.
Topics Mentioned: * Niche * Outdoor design * intentionality * Building in a season
Key Thoughts: * I learned from listening to a podcast that there is a real benefit and importance to niching in your business for setting yourself apart. Kaitlin Brophy (6:03) * I wanted to be able to be kind of a whole person in that I needed to have some type of outlet to express my creativity and my desires. But I also wanted to be that mom and I wanted to be a wife and I wanted to be able to go pick them up at preschool or do whatever I needed to do. Michele (9:35) * One of the things that was easy for me to translate into the businesses that I've created are those operations and procedures all the way back from building software. Michele (14:07) * I think the pandemic taught everyone how important is to have outdoor spaces that they want to spend time in and really make fun and functional. Kaitlin Brophy (22:47)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Kaitlin: * Email: kaitlin@brookandelm.com * Website: Brook and Elm * Instagram: @brookandelm
References and Resources: * Work with Me * Metrique Solutions * Profit First by Mike Michalowicz * E-Myth by Michael Gerber
220: Selling Authentically in Your Design Business with Nikki Rausch Joining me on the podcast today is Nikki Rausch. She is a sales coach and trainer and author and a speaker. And she talks about authentically moving people through a sales process. I'm so excited to have her on. She has her own podcast, The Sales Maven. So make sure you check that out and welcome to the podcast.
Topics Mentioned: * Creating a sales progression * Create curiosity * Closing the loop * Power of silence in the sales process
Key Thoughts: * The goal in sales is to match a need with an offer. Then if we have the solution, we offer it. Michele (3:13) * Sales is actually something you do with people. It's a collaborative experience. Does this person have a need? And if they have a need, do I have permission to put a matching offer in front of them so that they can make a decision as the adult that they are, whether or not it's the right next step for them. Nikki Rausch (4:26) * The more transparency and the more relationship you build in the sales process that carries forward into the actual work with that particular person. Michele (29:04) * When you don't issue that close language that is involved with the proposal, if you say, I'm going to send you the proposal, why don't you take a look at it, and then let me know what questions you have. Then we can circle back later, you have essentially just said to this person, add me to your to do list. When you add yourself to somebody's to-do list, the chance of you ever making it to the top is slim to none. Because they have decision fatigue. Nikki Rausch (35:53)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Nikki: * Email: yoursalesmaven.com@gmail.com * Website: Your Sales Maven * LinkedIn: Nicole Rausch * Facebook: Your Sales Maven * Instagram: @nicolerausch
References and Resources: * Work with Me * Metrique Solutions * How Strategy Informs Your Decision Making - Sales Maven Podcast with Nikki Rausch and guest Michele Williams * Closing the Sale Ebook by Nikki Rausch
219: Benchmarks for the Interior Design Industry WITH MICHELE WILLIAMS Here is a question I get repeatedly when someone shows me their financials, “Is this good?” While many may be good judges of great design – being a judge of great financials can be a bit more difficult if you don’t know what you are looking at or how to compare the numbers you are seeing. In this podcast I will share some benchmarks for financials in the Interior Design industry – and in healthy businesses in general.
Topics Mentioned: * Benchmarks * Financial markers * Trends
Key Thoughts: * Remember that the numbers are just that – indicators. If we don’t like them – then we need to change the decisions that created them. Michele (2:15) * Cash flow is hitting a hiccup due to delays and problems in the installations. Learning to manage the flow of cash in and out of the company will be most important for this upcoming year. Knowing your monthly “nut” and preparing the work to cover that financial nut is imperative. Michele (8:37) * It is important to recognize that these are healthy percentages for companies and to be used as a starting point for comparing your company. Perhaps you have made other decisions to move your money in another direction. At a minimum, know what your tradeoff is. Michele (11:46)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Scarlet Thread Consulting * Metrique Solutions * Profit First by Mike Michalowicz * Understanding Your Financials® * Profit is A Choice® podcast with Michele Williams * Financial Health Check Up * Metrique Solutions™ * Sign up for a Discovery Call
218: Strategies for Hiring Well in Your Interior Design Firm with Jamie Van Cuyk Today we have Jamie Van Cuyk. Jamie is a hiring strategist, a podcast host, and a speaker. And today we are going to dive into all things hiring. I know that hiring a team has been very difficult for many of you, you've probably had some starts and stops along the way. You're wondering what the next right hire is, how to make sure you're choosing the right person. And that's the conversation that we're going to dig into. So welcome to Jamie Van Cuyk.
Topics Mentioned: * Interviewing Skills * Strategy to Hire * Choosing a Candidate
Key Thoughts: * I've beI learned how to really identify who you need for that position, versus who works well for this title. Jamie Van Cuyk (2:54) * When I am looking at hiring somebody, I care more about a couple of things. After you get past where you fit into the culture and into the values match, I'm really looking for things like, your critical thinking abilities and I want to understand your ability to prioritize work. Because if you can think critically, and you can prioritize work, and you fit within the value structure, I can usually work with you. Michele (15:55) * When I first started interviewing one of the mistakes I was making that now I coach all my clients on before they go into that first interview is I would ask the question, and then I would keep talking. Almost like, let me guide you exactly to what I want to hear. And then I realized that I was doing that because I thought the candidates needed that in order to feel comfortable answering my question. Then I learned, ask the question and shut your mouth. Do not say anything else. Jamie Van Cuyk (24:17) * It really is true that we need to hire slowly and fire quickly. Michele (35:59) * There are four signs that to look for in your business to see if you really need to hire and I encourage you to look at the signs, or look for the signs about once a quarter, because it's so easy to get overwhelmed. The first is, you're saying no to your ideal customer. The second is you're losing customers due to poor customer service. The third one is you can't expand your time, you just have to focus on what you're currently doing in your business. And then the fourth one is that you don't have a certain skill or expertise needed. Jamie Van Cuyk (42:22)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jamie: * Website: Growing Your Team * LinkedIn: Jamie Van Cuyk * Facebook: Growing Your Team * Instagram: @growingyourteam * Pinterest: Jamie Van Cuyk * Email: Jamie@growingyourteam.com
References and Resources: * Work with Me * Metrique Solutions
217: Aligning Your Values with Your Daily Actions with Sandra Halling Today we're going to be talking with Sandra Halling. And Sandra describes herself as a recovering corporate consultant turned anti-hustle, pro-equity, productivity coach. We're going to be discussing all about listening to ourselves, having an awareness, and then creating some opportunities to protect ourselves while we're also building our firms. And so it was just such an awesome fun conversation, but also one that helps you think deeply about caring for yourself and caring for your business so that you can care for your clients. So enjoy the podcast, and I'm excited to have Sandra with us.
Topics Mentioned: * Future Identity * Worthiness * Intention * Professional Balance
Key Thoughts: * I've been working through a process of understanding what it really looks like in a regulated mindset. To be strong and kind. At the same time. Michele (4:26) * The thing that I like to offer as a practical aspect of buffer time is that I think it comes in different flavors. If there's the buffer that we're talking about, which is space before and after vacation, that's one version of it. Another version of buffer is the space between meetings. For example, with podcast interviews, I always put 30 minutes of buffer before, so that I have plenty of time to just get myself settled, make a cup of herbal tea, grab a notebook and just be really ready and centered when the interview starts. Sandra Halling (12:53) * I think one of the big things that we've actually been talking about or talking around without naming exactly, is being intentional with ourselves, right, because we first have to be intentional with ourselves to be intentional with our business. Michele (21:35) * Goals, to me, are outcomes. They're metrics, they're clear, they're specific, you know when you've got them. Whereas a state is an emotional state. It could be something like I am brave or I am conscientious. Sandra Halling (24:23) * The other piece that you mentioned, connecting from the head to the heart is, I believe that worthiness, enoughness, and empowerment are inside jobs. Nobody can give that to you. You have to give it to yourself. Sandra Halling (29:09)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Sandra: * Website: Feel More Productive * LinkedIn: Sandra Halling * Email: sandra@thedatamavens.com
References and Resources: * Work with Me * Metrique Solutions * Atomic Habits by James Clear * Begin With The End in Mind for Your Design Business EP 110 with Michele Williams
216: Starting the Year Well with Michele Williams Usually, we talk about ending a year well. What could it look like to start the year well? Hang with me as we consider what could make our year begin well.
Topics Mentioned: * Intention * Ease * Profitable
Key Thoughts: * To be honest, sometimes I really get caught in the tension of wanting to start the new year, but at the same time, not really wanting it to come, usually, because I'm looking ahead, and I'm taking it all in. And all I can think about is all the things that I need to do, the big goals that I want to achieve, the strategy that I've set. I'm excited, and I am almost afraid or fearful of the time it's going to take, the effort it's going to take, and what's going to happen. Michele (0:58) * I am trying to get into a really good habit that if I add something new, I take something away. Michele (2:45) * Number three is to focus on one quarter at a time, again, not on the entire year, but on a small subset. Michele (3:44) * The seventh thing that I'm going to try to do this year is to really be easy on myself, as an owner of a firm, we carry a lot of weight, a lot of responsibility, we're making a lot of decisions. And so that just carries such a weight that we almost feel like we can't make a mistake or a misstep. Michele (8:12)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Scarlet Thread Consulting * Metrique Solutions * Traction by Gino Wickman * 12-Week Year by Brian P. Moran and Michael Lennington
215: Hardship is a Great Teacher in Your Business with Ceil DiGuglielmo On the podcast for our yearly review and process session is Ceil DiGuglielmo of the Sew Much More podcast. This is a joint podcast that we love and look forward to each year. This year we seemed to really look at our personal lives and how they intermixed with our business lives a bit more. Also, listen in to hear the one thing that we both struggled with this year that we have enjoyed so much in the past.
Topics Mentioned: * Proud moments * Reading * Lessons Learned * Rest
Key Thoughts: * It also made us realize what's most important in our life. And in our family. It's just always that reset button. Then it also made me thankful for the business that I've built, and the processes that I have, so I could take a step away for a week or so. Michele (7:34) * My job is not my whole life. Most of us started our businesses for that reason, we wanted to work it around our lives. So where did we lose our way that the business is controlling our life? Ceil DiGuglielmo (14:30) * I had to and still am having to learn how to navigate that with joy, and with calm and even when it doesn't feel calm. And how to be curious, and how to be kind and soft, not hard hearted, and irritated and angry and frustrated when my plans keep getting disrupted. Michele (17:27) * There are also a lot of us who are the parents of adult children, and there are times we have to stop everything, being a teachable moment because our children have become adults. But I also think that our children learn from us when they see us in difficult circumstances. Ceil DiGuglielmo (23:55)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ceil: * Website: The Sew Much More Podcast * Website: The Curtains and Soft Furnishings Resource Library * Facebook: The Sew Much More Podcast * Facebook: The Curtains and Soft Furnishings Resource Library * Instagram: @ceildi * Instagram: @csf_resource_library * Email: ceilwdi@gmail.com
References and Resources: * Work with Me * Metrique Solutions
214: How to Easily Create a Strategic Plan for Your Design Firm with Michele Williams This week we're rerunning episode 131 of the Profit Is A Choice podcast, “How to easily create a strategic plan for your design firm.” This is an awesome topic that we processed through a couple of years ago. And I will say to you, it is still relevant and it's something that we work on and focus on in Scarlet Thread Consulting all the time. I want to encourage you as you wrap up this year, and get ready for next, that you take the time to consider your strategic plan, what it might look like, and how you can improve upon it from moving forward.
Topics Mentioned: * Vision * SWOTT * Milestones * Goals
Key Thoughts: * A strategic plan, simply put, is a document that tells where a company or organization is going. Consider it your road map for traveling into the future with your business. Michele (4:54) * Part of the beauty of creating a plan is having an idea of where you are going so you can plan in advance. Michele (10:24) * Every company has a limited supply of resources. These resources can be time, money, and people. Knowing how to spend each of these gives us an advantage. Michele (15:40)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Traction by Gino Wickman * 12-Week Year by Brian P. Moran and Michael Lennington * 6 Pre-Planning Tips for Your Design Year - EP 116 with Michele Williams * 4 Year-End Steps to Prepare Your Interior Design Business - EP 118 with Michele Williams * Year End Planning for HR, Marketing and Finances for your Design Firm - EP 121 with Michele Williams * 5 Reasons Successful Interior Designers Use a Strategic Plan - EP 129 with Michele Williams
213: Is Your Workplace Toxic? with Michele Williams Do you know how to define a toxic workplace? Are you the one bringing the discord into the office or is someone else? Maybe you are looking for a job and want to know what to steer clear from. Today, we are going to talk about what makes a workplace feel yuk – and how to spot areas for improvement.
Topics Mentioned: * Bullying * Belittling * Anxiety * Fear
Key Thoughts: * It is possible for even the healthiest of companies to have some dysfunction, just like any family or group of people. However, a toxic environment is even more than generalized dysfunction – it is harmful. Michele (1:11) * Toxic work environments can be created by the owners and managers or by the employees. What is most important is that these attitudes and actions are recognized and stopped immediately. Michele (3:31) * Creating a company that others want to be a part of takes intention. That is what we focus on so much on this podcast – profitability by intention. Michele (6:34) * Just because your environment is toxic now doesn’t mean it must stay that way. And just because it is safe doesn’t mean it won’t become toxic. Michele (8:15)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * The Five Dysfunctions of a Team by Patrick Lencioni
Tax Deferral and Risk Management for your Company with Ed Bryan It is not often that I get to dive into a topic that is totally foreign to me when we start the podcast. Usually, I have heard something about the topic and have a little knowledge. The 831(b) plan was a new thing – and Ed Bryan joins me to help us understand this tax deferral and risk management opportunity.
Topics Mentioned: * Insurance * Tax deferral * Risk management * Plan
Key Thoughts: * It's like traditional insurance. But what you're doing is building up this money, we always say with the 831B plans, they're not worth anything when we set them up. There are no funds, and there are no assets in there initially, but after two, three, four, or five years, these things have the potential to be worth millions of dollars. Ed Bryan (15:42) * I think that would be important to know how you are taxed in order to determine how much you're trying to put into an 831B plan, whether you're really trying to use it for long-term savings in some ways, or if you're really using it to mitigate risk. Michele (27:22) * We've seen a significant upswing in the last three to five years in business owners looking for real cybersecurity insurance that covers things like phishing, social engineering, and those types of things. And we're seeing a lot of pressure there, because unfortunately, people that are attacking, especially those, those hackers and cybersecurity criminals, they know that small to midsize business doesn't necessarily have the awareness in the cybersecurity that a fortune 500 company does. Ed Bryan (31:55) * Even in my coaching and consulting practice I work with my clients, I'm talking to their accountants with them, I'm talking to their bookkeepers, their financial analysts like we're working together, because everybody has a piece of the puzzle. Michele (35:47)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Instagram: @MetriqueSolutions * Website: ScarletThreadConsulting.com * Website: MetriqueSolutions.com * LinkedIn: Michele Williams
Contact Ed: * Website: 831b.com * Instagram: @SRA_831b * Facebook: SRA831b * LinkedIn Ed: Edward Bryan * LinkedIn SRA: SRA 831(b) * YouTube: SRA 831(b) * Vimeo: 831(b)
References and Resources: * MetriqueSolutions.com * Work with Me
Creating an Accounting Foundation for your Design Business with Erin McGhee Today I am welcoming Erin McGhee to the podcast. Erin describes herself as an Accounting Manager for service-based businesses. Her big goal – to put you in charge of your money. As you can tell, we have a lot in common. Listen in as we discuss what is needed to have you in the driver’s seat of your business vehicle and what it takes to keep you there.
Topics Mentioned: * Organize * Implement * Maintain * Financial Process
Key Thoughts: * My process and any service that I offer my clients, we follow the organize, implement, and maintain framework, and that organizes the first piece with any client where we truly dive into those foundations. Erin McGhee (8:55) * Your chart of accounts needs to be detailed enough that you can look at them and analyze and make decisions for your business, it doesn't mean you won't have to dig down further here and there, but you should be able to look at it and make decisions. Michele (9:55) * My goal is simple. It's to put owners in charge of their money. Erin McGhee (16:21) * I do not ever want the owner of a company to feel like they don't own their books, you own them, period. Michele (18:03)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Instagram: @MetriqueSolutions * Website: ScarletThreadConsulting.com * Website: MetriqueSolutions.com * LinkedIn: Michele Williams
Contact Erin: * Website: ErinMcGhee.com * Instagram: @erinmcgheellc * Email: erin@erinmcghee.com
References and Resources: * MetriqueSolutions.com * Work with Me * Recommended Chart of Accounts from Erin McGhee * A Strong Core for Body and Business Ep 040 with Kolleen Losch * E-Myth Revisited by Michael Gerber
Building a Community of Support with Michele Williams Lately I have been thinking about the value in building a community of support for your business. We really are not in business alone. In this podcast I am going to share some of my community, how I chose it, how it supports me – and how you can do the same.
Topics Mentioned: * Community * Needs * Alignment
Key Thoughts: * Early on in my career, and probably life, I thought that I had to find the one best friend or the one resource, or the one online tool to solve my problems or meet my need. Instead, what I found was that each community and person I meet can fill a different role or need in my life or business. Michele (4:28) * We probably need more than one to meet the current and future needs of our business. Michele (5:26) * I aim to create communities that are safe for everyone. Communities that hear a wide range of voices and respond in kindness. Communities that welcome others and when the room gets too full, we get another room and build a bigger table. Michele (7:14)
Socials: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Instagram: @MetriqueSolutions * Website: ScarletThreadConsulting.com * Website: MetriqueSolutions.com * LinkedIn: Michele Williams
References and Resources: * Work with Me * Metrique Solutions
209: Metrique Solutions is Your Financial Partner in Business with Jack Tompkins Joining me again on the podcast today is Jack Tompkins of Pineapple Consulting. Jack and I, along with a whole team of people, work on Metrique Solutions, a financial dashboard developed to support creative entrepreneurs – like you! Today we are talking about how Metrique Solutions is a financial partner in your business. It is not a replacement for your accounting or project management software, but an adjunct.
Topics Mentioned: * Financial partnership * Financial translator * Visual financials * Metrics
Key Thoughts: * Metrique Solutions is going to be an addition to your tech stack if you choose to use it, but it is solving a problem that neither the project management tools out there or the financial tools currently out there solve. And that's why it's a great partner to them. Michele (4:49) * This is the audiobook to go along with the visual or in this case, it's the visual to go along with the audio. Here's what happened when QuickBooks did your invoicing. Here's another way to interpret it. Jack Tompkins (10:50) * What I hear a lot, especially in the design community, is all this information in my project management system and I've got this information in my financial management system. I don't know how to make them work together. Michele (16:52) * It's a great comparison and sort of analogy to Metrique as well, much like the football analogy, you get to see where you're ranked over time. Jack Tompkins (20:30)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Instagram: @MetriqueSolutions * Website: ScarletThreadConsulting.com * Website: MetriqueSolutions.com * LinkedIn: Michele Williams
Contact Jack: * Website: pineapplecf.com * YouTube: Jack Tompkins YouTube * LinkedIn: Jack Tompkins * Email: jack@pineapplecf.com
References and Resources: * MetriqueSolutions.com * How to Easily Understand Your Interior Design Business Financials Ep 136 with Jack Tompkins * Seeing is Believing in Your Design Firm Ep 206 with Jack Tompkins
208: How to Use Niching and Systems to Grow Your Business with Carolyn Boldt Today on the podcast we have Carolyn Boldt. Carolyn is passionate about holistic health and wellness and has crafted a business that focuses on designing in these industries. There are so many good takeaways in this podcast and Carolyn really has a heart to share and teach. Listen in as she shares the journey to focus on a niche that she loved and how it has prompted a different way to scale.
Topics Mentioned: * Niche * System * Strategy * Space
Key Thoughts: * We could say we ran a business, but we just owned our job. Carolyn Boldt (13:22) * You can't be all you have to graduate up. Which is why a lot of us talk about now and scaling, having the CEO somebody to do operations in management and then the technicians to execute. Michele (14:23) * Residential design is very much about the human being in the space. How do I want to feel in the space? How do I want to represent myself to my friends, etc. In business, it has to be about the return on investment. Carolyn Boldt (23:15) * We began to see the elements that we needed to scale. We needed to create a system of the design process, which all the design processes go through and then create a system, so that our deliverables basically are the same. The designs are different, but the process is the same. Carolyn Boldt (30:01) * The one thing that I would recommend is when we're looking to hire, the question is do you have time to train and to give this person the opportunity to ramp up? If you do not have that you do better to hire more experience to get it done. Michele (42:07)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Carolyn: * Website: chiropracticofficedesign.com * Facebook: CrossFields * Pinterest: @CrossFields * Instagram: @crossfields_chiro_design * Twitter: @chirofficedesign * LinkedIn: CrossFields-Inc * Email: cboldt@crossfieldsinc.com
References and Resources: * Work with Me * E-Myth Revisited by Michael Graber * Megabundle Offer For Profit Is A Choice Podcast With Michele Williams
207: Developing Perseverance in Your Firm WITH MICHELE WILLIAMS Can we just talk about perseverance? Perseverance is defined as doing something despite the difficulty or delay in achieving success. With all the things happening in our world and industry over the last two years, I would say that most of us are living in this space right now. Listen in to today’s episode where we discuss how we can keep going, even when the road seems long ahead of us.
Topics Mentioned: * Failure * Risk * Goals * Continual Improvement
Key Thoughts: * Now, more than ever, it is important to make sure you are working with your ideal client. Michele (2:35) * Don’t be afraid to fail. Failure and success are so very close to each other. Failing forward, as John C. Maxwell describes in his book is what builds perseverance. Michele (3:13) * When I have clear goals, it is so much easier to attain them as compared to when I am not really sure what is expected of me. Michele (5:54) * Perseverance doesn’t happen by accident, and it doesn’t happen without focus. Staying focused on your goals, your why, the journey and improvement strategies keeps you in the game. Michele (7:25)
Socials: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Work with Me * 212 The Extra Degree by Sam Parker and Mac Anderson * Failing Forward by John Maxwell * Metrique Solutions
Joining me on the podcast today is Jack Tompkins of Pineapple Consulting. Jack and I met back in 2020. And we shared the love of numbers and metrics instantly. Jack and I began working together early in 2021 to bring visuals to my clients and now we have joined forces to create Metrique Solutions, a software application for business owners, and to give you the ability to see your KPIs in a quick visual dashboard. And so today on this show, we are going to talk specifically about the power of seeing your financials in one place and at one time.
On the podcast with me today is Jill Palleschi of Jula Paper Co. Jill created Jula Paper Co out of a passion for design and a love of celebrations, both big and small. Jill believes that branding should be accessible to everyone and she supports business owners at all levels as they create brands representative of their business. Listen in as we discuss the story of our brand, how to not be trendy but to create a long-lasting brand, and what to do if you cannot afford a custom brand when first starting your business.
And just like that we are beginning year 5 of the podcast. Thank you to everyone who has listened, contributed, provided feedback and been part of this podcasting journey in any way. Cheers to wrapping up year 4 and to beginning year 5. The best gift you could give me would be to leave a review of the podcast on your favorite listening platform. Now, let’s recap a year of learning!
203: Grow Your Design Firm with Podcasting WITH Andrew Allemann
With me on the podcast today is Andrew Allemann. Andrew is a podcasting expert and founder of PodcastGuests.com. This is a service used by over 30,000 people to find guests for podcasts and for experts to get booked on podcasts. Today we will talk about the profitability of other people’s traffic which is increased by being on a podcast.
Topics Mentioned: * One-sheet * Education * Connection * Preparation
Key Thoughts: * I wanted to bring people together to talk about what makes what makes profit in the company and profit being so much more than just money like profitability of recognition profitability of getting your voice heard. Michele (04:23) * You can really build a lot of relationships through podcasting, and grow your audience like you do through both this show, and being a guest on other shows. It's a great way to grow your audience as well. Andrew Allemann (5:44) * Podcasting gave me an opportunity to get up there and talk about myself and my products and services. But also, to broaden the horizon of the people that were coming in to my realm of influence. Michele (11:14) * If you provide good education to that audience, if you entertain or educate them, that's going to naturally get them interested in learning more about you. Andrew Allemann (24:10)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Andrew: * Email: andrew@podcastguests.com * Website: podcastguests.com * Facebook: Podcast Guests * Twitter: @podcastguests
Resources and References: * Work with Me * PodcastGuests.com Guide
202: Tax Strategies for Your Design Business WITH Wendy Barlin
Wendy Barlin is on the podcast with me today. Wendy has worked with business owners for over 25 years to guide them with business development, tax and cash flow strategies. Her direct and clear communication style, helps business owners understand a topic that often brings much fear and trepidation. So – let's talk taxes.
Topics Mentioned: * Keep your receipts * Risk management * Ordinary and necessary * Reasonable salary
Key Thoughts: * Most accountants don't want to teach; they don't have the patience, they don't have the personality, they don't enjoy it. I love to teach. And I enjoy it. Wendy Barlin (07:42) * At some point, we've got to keep something that proves the legitimacy of the purchase, especially for meals. And I think that's probably more than anything else. Michele (17:08) * We don't have to be afraid of paying taxes, like part of paying taxes is saying that you're a profitable company in the first place. So, we need to make peace with that. Michele (20:13) * Tax law is very gray. And so, for everybody, we need to look in the mirror and say, I am a big risk taker, and I am willing to roll the dice to save money on taxes. And other people will say to me, Wendy, I never want to get a letter. I don't care if I overpay, Wendy Barlin (21:29)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Wendy: * Email: wendy@wendybarlin.com * Website: WendyBarlin.com * Facebook: About Profit * LinkedIn:Wendy Barlin * Instagram: @wendybarlincpa
Resources and References: * Work with Me
201: How to Rethink Your Business WITH MICHELE WILLIAMS Today we are airing an episode that we launched in 2020. Many of us are seeing changes in buying patterns, budgets, and selections. While the details are different from where we were in early 2020, the rethinking our business part is the same. In this podcast we will examine how to dissect our businesses so that we can analyze them and perhaps put them back together again in a different way. Really knowing the pieces and parts, as well as what we're great at, or core competency, helps us to determine the best ways that we can show up and then serve our ideal client. Let’s focus on how to be nimble in an ever-changing world. How to grow and scale while maintaining our flexibility, which is not always easy. That will allow us to maneuver through any change. I hope you enjoy.
Topics Mentioned: * Building blocks * New picture * WHY * Pivot
Key Thoughts: * Many of us have discovered things about our business that maybe we didn't recognize before; we have new insights now. - Michele (02:08) * We can't just always do business as usual. - Michele (10:30) * Your why, values. mission, vision…All of those are building blocks and we're putting them together in a multitude of ways. - Michele (13:01) * There is no reason that we should be building businesses that we're not 100% in love with. - Michele (19:52) * The goal here is to reclaim our time and maximize our money while providing the best product and service out there. - Michele (24:36)
Socials: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Profit First by Mike Michalowicz * Work with Me
200: Problem Solving as a Sales Process WITH Jeremy Miner
With us on the podcast today is Jeremy Miner. Jeremy is the Chairman of 7th Level, a Global Sales Training company. Jeremy shares that “The single most effective way to sell anything to anyone in 2022, is to be a problem finder and a problem solver... NOT a product pusher.” We will discuss this and why the old ways of selling no longer work well.
Topics Mentioned: * Emotion vs logic * Selling is change * Change is uncomfortable
Key Thoughts: * If you want to be great at persuasion, at selling, you have to start looking and viewing your business or sales as collaborative; it's you working with the prospect to help them find problems they didn't even know they had. Jeremy Miner (3:10) * Michael Port in his book, Book Solid, makes the comment that sales isn't about coercion or twisting somebody's arm, it's about meeting them where they are. Michele (11:06) * You're not selling them the thing. It's not the sofa, you're not selling them the bar down in the basement, you're not selling them the new kitchen stuff, that's not what you're selling. You're selling them the results of what that's going to do for them. Really what you're selling is you're helping them solve any emotional need. Jeremy Miner (29:25) * Part of sales as well is I believe, is telling them I understand that this change is going to cause uncomfortableness and unsettledness. And I've walked this before and I've helped other people manage this change. We're here to help you manage the change. Michele (33:15)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Jeremy: * Email: jeremy@7thlevelcommunications.com * Website: 7thlevelhq.com * Facebook: Jeremy Lee Miner * LinkedIn: Jeremy Lee Minor * Instagram: @jeremyleeminer
Resources and References: * Work with Me * SalesRevolution.pro
199: SEO and Messaging for Your Design Business WITH Erin Ollila
With me today is Erin Ollila. Erin is a copy coach and conversion copyrighter and so much more. Erin believes in the power of words and how a message can inform – and even transform – its intended audience. Today we will be talking about the intersection of SEO, messaging and copyrighting for your marketing materials. Get ready to take notes!
Topics Mentioned: * Messaging * Customer Journey * Audience * Voice of Customer Research
Key Thoughts: * I speak in words and not numbers. But when we look at how we approach our marketing for our business, even though it's copy related, there's so many ways that numbers actually play like such a valuable role in decision making. Erin Ollila (1:28) * Sometimes we tend to think in silos, let's do our copywriting. Now, let's do our messaging or do our messaging and then do our copywriting. Now let's do our marketing, as opposed to really thinking about holistically and strategically how all of these places intersect. Michele (29:45) * It's not a once and done, it's a once and then monitor, because I know that my copy has shifted and changed over the years, with the times with what I offer with what I do with what my client needs. Michele (35:18) * We don't need to start from scratch, some business owners might find that their message has completely changed. And some might just need to do some tweaking to make things clearer. But what this comes down to is knowing our audience. Erin Ollila (39:09)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Erin: * Email: erin@erinollila.com * Website: erinollila.com * Facebook: Erin Ollila Creative * LinkedIn: Erin Ollila
Resources and References: * Work with Me * Talk Copy to Me Podcast with Erin Ollila
198: Rest, Recharge and Reset You and Your Business with Michele Williams Let’s talk more about burnout. Last month we looked at being burned out and looking for inspiration in different ways. But this month, I want to talk about being exhausted – in all the ways: mentally, physically, emotionally, and even spiritually. And – what we can do about it. Enjoy the podcast.
Topics Mentioned: * Exhaustion * Sleep * Rest
Key Thoughts: * Exhaustion can happen even when we are doing what we love. Michele (1:48) * First, recognize that you're tired, like, I know, sometimes I'll say it, I just push, push, push, push. Michele (5:33) * Please give yourself grace. Many of my clients have shared lately how busy their teams have been. We all tried to adjust to the influx of requests by working harder, longer, hiring more people to meet demand. Michele (8:47) * Running a business is hard work. It just is. I am speaking to you as much as I am myself. Build in time to rest. To relax. To reset. When you do this on an ongoing basis, you will feel better and lead more effectively, and your business will move forward with more peace. Michele (9:30)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work With Me
197: Creating Systems that Work for Your Design Business WITH Adi Klevit
Adi Klevit, Founder and CEO of Business Success Consulting Group is with me today sharing from her twenty-five years of knowledge and experience as a trained Industrial Engineer, management consultant and business executive to bring order and efficiency to organizations. We will discuss how processes improve efficiency and performance. Listen in for insight on bringing order to the chaos in your life and business.
Topics Mentioned: * Systems * Why behind the process * Flexibility * Client journey
Key Thoughts: * I think that it's a matter of creating processes that are flexible enough in order to give a framework but also allow you to be creative. Adi Klevit (13:19) * The more that I document the process, the more I realized there are other people that I can hire. I mean, truly, I think that is one of the things that keeps us from hiring is because nothing's documented. Michele (17:27) * I would challenge our listeners to think about what you do for business development and try to figure out how you do it and if there is a common denominator, and that common denominator is a process. Adi Klevit (25:21) * The goal is to create processes that are as easy and as streamlined as possible to get the outcome that we desire, within the timeframe that we desire not to make us feel important, because we have a 15-page dossier on something that we could have captured in, you know, three or four sentences. Michele (30:54) * The first thing that needs to happen is a change of mind. It has to have agreement from the leadership team from the top, from the owner. Adi Klevit (35:05) * Every single thing in my business is still not 100% documented, because my business is constantly growing and changing. However, we try to write as much as we can, while we're changing. We have things set up in Asana, we've got, a document set up and Airtable and processes there. We've got them in different places that make sense for each activity that we're doing. But it is a constant ongoing, and part of the company that we just have to do. Michele (46:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Adi: * Email: adi@bizsuccesscg.com * Website: https://bizsuccesscg.com/ * Facebook: Biz Success CG * Twitter: @bizsuccesscg * LinkedIn: Business Success Consulting Group
Resources and References: * Work with Me * How to Get Your Processes Implemented and Followed by the Team in Five Steps by Adi Klevit
196: Creating and Documenting the Procedures in your Design Firm WITH Owen McGab Enaohwo
With me on the podcast today is Owen McNab Enaohwo. Owen is the CEO and Co-founder of SweetProcess, an easy-to-use software that enables company executives and their employees to collaborate together to quickly document and/or improve their standard operating procedures, processes, and policies. We will dig in to where to start, how to monitor and improve processes and how to engage your team in the collaboration.
Topics Mentioned: * Recurring tasks * Continuous improvement * Minimum viable procedure * Collaborative approach
Key Thoughts: * Because we're at home, I think companies are even more open to the idea to outsource and to work collaboratively. Or even if you're not outsourcing, we're not necessarily beside each other anymore in the same way. So, we have to find some way to get that information. Michele (8:17) * People think that you have to have all the instructions and everything. I'll say, get rid of that thought, because the most important thing is to have the mindset that it is going to be a continuous improvement thing. You're going to collaborate with your employees, or your staff, or your contractors who are working with you to build this. Owen McGab Enaohwo (11:06) * I have documented the minimum viable procedure or version 1.0 of this task. Now let’s go ahead and collaborate to fill out the details. With software like Sweet Process, we enable that collaboration back and forth. What happens is you can have your employees passively go into the software and start adding to the process. Owen McGab Enaohwo (12:34) * If we think about it, in all of our businesses that do design, what is the minimum design that we need to do to meet the need of the client? Everything else is a layering process. Michele (17:19) * Whomever you hand that process off to, will become the owner of that work, and hopefully, improve that process and change that process, which means that the process that I handed off might not be the process I get back in two or three years, it's going to be much improved. But I am trying to reduce my brain space so that I can work on something else. Michele (21:36)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Owen: * Email: owen@sweetprocess.com * Website: sweetprocess.com * LinkedIn: Owen McGab Enaohwo
Resources and References: * Work with Me * The 4-Hour Workweek by Timothy Ferriss * 5 Barriers to Scaling Your Interior Design Business Ep 105 with Michele Williams * 52 Standard Operating Procedure Templates
195: Looking for Inspiration for Your Creative Business with Michele Williams Today, we are going to just put it on the table. Burnout, frustration, lack of inspiration, need of support. Do these words and phrases resonate at all? If so, hang around as each of these elements are discussed on the podcast today.
Topics Mentioned: * Inspiration * Excitement * Color * Joy
Key Thoughts: * We all go through times of feeling like we are working in and with the mundane. But often joy and inspiration can come in the smallest and quietest of moments. Michele (3:00) * What if we could be inspired by a single flower? What if we could be inspired to use a prior used item in a different way? What if we tried a new color palette? What if we found a way to make use of more with less? Michele (4:34) * What matters is our attitude and mind. Michele (5:14) * Inspiration is all around us. It is in a baby’s smile or giggle, sunrise, sunset, flowers blooming, rocks forming, water running. It is in our child’s art project, in best friends chatting on the back porch. It is in a soccer game or a movie. We just need to be open to looking for it and not expecting it to show up like it always has. Michele (9:47)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work With Me
194: Break Up With Debt WITH Melanie Lockert
Joining me today is Melanie Lockert. Melanie is the author of the book, Dear Debt, based on her long-standing blog. She is also the podcast host of Mental Health and Wealth. Melanie was successful in paying off $81,000 in student loan debt and she has chronicled her journey on her blog and in her book. Today our focus will be all about debt and how to manage it.
Topics Mentioned: * Stages of debt * Money mindset * Self-worth vs. Net-worth * Spending triggers
Key Thoughts: * Suddenly, I felt basically like a broke college student all over again. The blog was really me trying to take back control over my life, because I felt out of control in the way that it affected my mental health. Melanie Lockert (3:45) * I realized that I had given up my own control of my money, for the payoff of pleasing other people are doing what was expected. Michele (7:19) * It's so interesting what happens when you put a crazy goal like that online. Soon I had these supporters cheering me on and then I realized six months to a year later that I can turn my blogging skills into freelance opportunities as a writer for other blogs and for other finance companies. Melanie Lockert (17:02) * Profit First is creating a rhythm of creating and managing profit within the company, so that the company can be sustainable. Michele (41:24)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Melanie: * Email: deardebt@gmail.com * Website: www.mentalhealthandwealth.com * Website: www.lolaretreat.com * Website: www.deardebt.com * Website: www.melanielockert.com * Instagram: @melanielockert * Twitter: @melanielockert
Resources and References: * Work with Me * Dear Debt by Melanie Lockert * Mental Health and Wealth Podcast hosted by Melanie Lockert
193: Leveraging Your Network to Build Your Design Firm WITH Pamela Durkin
Joining me today is Pamela Durkin. Pamela has spent over 30 years in the high-end design business serving both residential and commercial clients. She continues to practice design and also teaches other designers how to be magnetic and attract the best clients through her In Demand Designer Program. We are talking today about networking, ideal clients, and how to make an impression from the beginning.
Topics Mentioned: * Process building * Magnetic Marketing * Profitability * Networking
Key Thoughts: * After having my first child went back to work for about a year. And to be honest with you, it was heart-wrenching and exhausting, and unfulfilling to the 100th degree. And that's that was the moment that I decided, you know, something here's got to change, and I've got to go out on my own. Pamela Durkin (8:26) * It's super important for us to realize to really find the part of our career that makes our hearts sing. Michele (9:33) * The goal here is for each person to understand how they're made, what their strengths are their values, what they love to do, what they enjoy doing, what their team is specialized in, and then be able to take that and serve their clients, which then ultimately serves them. Michele (11:49) * I want to continue on my own and ultimately decided to just go ahead and stay on my own and really started to get involved with organizations in the area. Pamela Durkin (23:27) * What I love is that you're showing the clients, how they're going to be treated before they're hired before they hire you. And that's a hard thing to do. Pamela Durkin (39:42) * Time is definitely a currency. And it's not one that we get back. We do get our money back, but we don't get our time back. Michele (49:34)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Pamela: * Email: pam@pamela-durkin.com * Website: www.pamela-durkin.com * Instagram: @pameladurkin * Facebook: Pamela Durkin Designs
Resources and References: * Work with Me * The Big Leap by Gay Hendricks * Elevate by Pamela Durkin
192: Cultivating Leadership in Your Design Firm with Michele Williams Today we are going to talk about leadership. As many of us are growing our teams, we should consider how our role, and perhaps that of some of our team, is shifting into more of a leadership focus and not simply executing details.
Topics Mentioned: * Leadership * Influence * Intention
Key Thoughts: * We all have the ability to influence someone–but what makes great leadership great is the ability to influence others for good. Michele (2:41) * Imagine if we all considered who we are influencing daily. We are leading based on our character, our abilities or competence, our actions, and our connections–who we know and what we know. Michele (3:44) * As leaders, our teammates need to believe in us, next the goal is for them to believe in the goals we are trying to accomplish. They must know that we will do our best to lead them well. Michele (5:44) * Creating the vision is great–but holding to it and seeing it come to fruition is key. Moving forward with intention towards the larger goal and influencing your team to come with you–even when they cannot see what you see–but their trust is in YOUR ability to see. Michele (10:12)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * Work With Me * The Go-Giver by Bob Burg and John David Mann * The Go-Giver Leader by Bob Burg and John David Mann * Developing the Leader within You by John C. Maxwell * How Successful People Lead by John C. Maxwell
191: Seeing What is Possible in Your Design Business WITH Katie Menon
Joining me today is Katie Menon of Stephenson House in Edmonton, Canada. Katie has had impressive growth and has been willing to take some risks to do things, perhaps, before their time. Listen in as she shares her business trajectory.
Topics Mentioned: * Risk * Growth * Team * Business Journey
Key Thoughts: * It's more common nowadays that people are coming to career paths in multiple ways. Starting a business later in life or not following in your family footsteps and inheriting a family business but starting your own instead. Katie Menon (6:49) * What's also interesting is the idea of triage, which is what happens in the ER, you're looking at all these things happening at one time; what's most important now? What's the next right thing to do? How do you keep calm when everything around you is going out ahead? There are so many lessons to learn. When you walk into a job site or a construction site where things are happening, and lots is going on, and you've got to immediately take all that information and parse it out and kind of form a plan of action or calm down somebody on the other side. Michele (9:23) * I think the concept of going into another winter, as the fall was, approaching was still so much uncertainty around COVID. People not being able to get away to Hawaii or Mexico or Florida. They were saying, let's go, this is the perfect opportunity to, not stare at that living room wall any longer. Katie Menon (20:23) * There's something really exciting about bringing on team members. But there's also something really weighty about bringing on team members. Michele (25:10) * Once you catch sight of what's possible, wow, that's where the dreaming really starts to happen. Michele (31:25)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Katie: * Email: katie@stephensonhouse.co * Website: www.stephensonhouse.co * Instagram: @stephenson.house
Resources and References: * Work with Me * How to Build a Design Business that Fits Your Strengths - Ep 184 with Carol Lang
190: 5 Website Essentials for Interior Designers WITH Katie O’Brien
On the podcast today is Katie O’Brien. Katie is a brand and website designer for the interior design industry. We are going to talk about the 5 website essentials that are needed, how to tell if you have outgrown your website, and the most common portfolio mistakes that people make. Enjoy!
Topics Mentioned: * Strategy * Flow * Ease * Photography
Key Thoughts: * I love Katie, how you created the life that you want. The life you and your husband talked about creating, and then built your business around that life. Michele (6:32) * I had a mindset problem in the beginning because I thought, who would pay me and when I looked up website designers and developers their businesses had beautiful websites. I had that imposter syndrome thinking that could never be me; I could never have that business. Katie O’Brien (10:52) * Finally, during a call with my coach I made the decision. I'm going to rebrand, I'm going to change all my copy, all my marketing, and I'm not going to take any new clients. I'm going to focus on interior design websites and projects only. Katie O’Brien (14:09) * One of my favorites to see on a website is what design problem did you solve. Michele (37:23)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Katie: * Email: ko@katieobrien.com * Website: katieobrien.com * Instagram: @katieobrienwebdesign * Facebook: Katie O'Brien Web Design * Pinterest: Katie O’Brien Web Design
Resources and References: * Work with Me
Have you created a Profit First strategy and implemented it – then left it alone? Are you still confident in the percentages you have allocated? Is your system and process growing with the evolving financials and needs of your company? If you are not sure, then this is the podcast for you. Let’s talk about how to review your profit first strategy and how to tweak it to make it work for your business today.
188: Building Heroism in Business WITH Scott BeeBe Scott Beebe is the founder and head coach of My Business on Purpose and he's the host of the My Business on Purpose podcast. He loves to liberate small business owners from the chaos of working in their business and helps to get their lives back by assisting them in articulating and implementing intentional vision mission values, systems and processes.
Topics Mentioned: * Preparation * Vision * Direction
Key Thoughts: * Monday is my favorite day of the week, we literally wake up every day with one ambition. And that is to take these heroic small business owners that we have the distinct honor of being able to influence and liberate them from their chaos. Scott BeeBe (3:25) * My big push in the interior design industry and in the creative industries is for people to understand that they can understand their financials, and they can manage their financials and that they can have their financials and their company work for them instead of them working for the company. Michele (5:11) * What's unique to you, write those things down, because that's how we make a solid decision and consistent decision every single time. Scott BeeBe (18:36) * If I would say anything about what this entire podcast says to me, and the discussion that we're having, is that this is about intentionality and ownership, owning the mission, owning the vision, owning the forecasting, owning the budget, owning the hiring process, and being very intentional with all of it. Michele (42:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com
- Facebook: Scarlet Thread Consulting
- Instagram: @ScarletThreadATL
- Website: ScarletThreadConsulting.com
- LinkedIn: Michele Williams
Contact Scott: * Website: www.mybusinessonpurpose.com * Website: www.letyourbusinessburn.com * Facebook: My Business on Purpose
Resources and References: * Vision Story Template - Download Now! * PIAC EP. 009 - Listen Now! * Profit First by Mike Michalowicz * Business Done Differently by Jesse Cole * Finding Your Yellow Tux by Jesse Cole * Let Your Business Burn by Scott Beebe * Correct Your Cash Flow - Download Now! * Master Your Profit™ - Enroll Now!
For years I have been asked to write a book. And while I have co-authored a book and enjoyed that process, I felt like there was something else I was supposed to put out into the world. Today I want to introduce you to Metrique Solutions. A software application that will help you make financial decisions in your business in just minutes a month. On this episode I will share with you the origin of Metrique Solutions along with the problems it solves. I am excited – so let’s get to it.
As owners, we build and build and work and work on our business. But what happens when we need to step away for a time? Can the business move on without us? What if we are out for a hot minute and someone needs to step in on our behalf, have we established a company that they can move into? On the podcast today, we will look at the areas we need to consider for continuity of service if we, the owner, need to take a sabbatical.
185: Backwards Financials for the Win with Tracie Tayl0r Today I'm bringing you a replay of a podcast that we launched in the first few months of our podcast back in 2018. This particular podcast was in response to a question that Tracy Taylor emailed and asked me about how she could figure out her financials backwards. I work with my clients to create a top-down and a bottom-up model of their financials. And on this episode, you will hear Tracy and I work through her numbers, I want you to really listen in for some actionable takeaways so that you can look at your business financials backwards.
Topics Mentioned: * Strategy * Intention * Process * Plan
Key Thoughts: * The biggest challenge to my business has been rebuilding and learning how to market myself in a new environment. Tracie Taylor (04:37) * The missing pieces I needed in order for me to grow were finding a business coach to work with and creating and organizing the financial systems. Tracie Taylor (10:00) * Pricing plays into marketing and we need to ask ourselves who is our ideal client and what are the services and packages we offer? Michele (11:20) * Success happens by making sure the financials and marketing are working together. Michele (12:07) * Where the company is, where you live and the clients you serve can be different things. It is that personal conversation that needs to be had to understand what is fair and reasonable when pricing and charging for your ideal client. Michele (55:34)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * Understanding Your Financials™ Course
184: How to Build a Design Business that Fits Your Strengths with Carol Lang I am so excited to have Carol Lang, of Carol Lang Interiors in NJ, on the podcast with me today. Carol is an excellent designer who has really learned to create her own path forward in this industry. We will be sharing her journey of discovery to clarify what she wants out of her business, and how that work is iterative and ongoing. I hope you enjoy!
Topics Mentioned: * Strategy * Flexibility * Decision criteria * Intentional growth
Key Thoughts: * I thought this is big. I'm doing this by myself and I could use an expert to help guide me. You gave the analogy, you know, it's a lot harder to turn a cruise ship than it is a little speedboat and I thought oh, I'm a speedboat. Carol Lang (4:21) * The staffing decisions that I make are to be made so that I don't need somebody sitting next to me all the time. And that if I can build a team of people, anywhere on the East Coast, that's a great thing. Why not take advantage of resources that are out there that I might not have available in my, little neck of the woods here in New Jersey. Carol Lang (10:44) * One of the most clarifying moments for me came when I did the strategy work that you've done, and I said, what do I want to do? What is your why? What is your mission? What is your vision? Michele (19:20) * I chose to wait to really blossom, if you will into the fullness of what I wanted to do without regard for I've got to be home at four o'clock and have dinner on the table and what's in the crock pot and what's in the airfryer. Michele (32:02) * If you really sit back and ask yourself, why you aren't doing what you think you want to do, or know you want to do. It's because we're either afraid of the outcome or afraid of what's going to happen. (Michele 40:36) * It's been really fun to be able to build on all of these little pieces of my life and history and make sure that it can come together in a in a way that is unique and different than what other people are offering. Carol Lang (43:26)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Carol: * Email: carol@carollang.com * Website: http://carollang.com * Instagram: @CarolLangInteriors * Pinterest: @CarolLangInteriors * Facebook: Carol Lang Interiors
References and Resources: * AIM Masterclass - Watch now * Managing Business Growth Expectations for Interior Designers Ep 115 with Jeremy and Chandler Quarles * How to Create an Interior Design Business to Sell Ep 171 with John Warrillow
183: Preparing for an OPs Resource in Your Design Firm with Kelcee Sparks On the podcast today with me, again is Kelcee Sparks. And she is the Director of Operations and Success for Scarlet Thread Consulting. You might remember that Kelcee and I did Episode 168, together on how to hire an operations person for your design firm. And in that episode, if you haven't listened you may want to go check it out. We discussed operations, building trust, working within your zone of genius and process, we really focused on what an operations person did and why you might need one. Today, we're going to go a little bit deeper. And we're going to really focus on the details of being ready, creating the first steps to move in the direction of hiring an operations person, we're going to talk 30-60-90 day plans. And we're also going to talk about creating a hybrid, so that sometimes the person may be in the office, and sometimes they may be working remotely. And so I hope that you gather a lot from this and are able to put it into practice.
Topics Mentioned: * Client Experience * Team Management * SOPs * Communication
Key Thoughts: * Having either an additional resource that can work remotely that can do those tasks, or allowing your boots on the ground in office person time to be able to focus on those tasks could really benefit the company to have some very dedicated and focused time to accomplish the task before them. Michele (7:57) * That's where your clients see the biggest benefit from our operations support that we provide them in the program is because they do have to stop and focus on the bigger picture. Kelcee Sparks (8:44) * The five areas that we focus on are the client experience, team management, project management, vision, and clarity. From that, you develop a plan for our clients that says, here's where we need to start. Michele (14:53) * As operations people, our expertise is breaking those big goals down and realistically setting expectations for you and for us. Kelcee Sparks (16:36)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * How to Hire an Ops Person for Your Design Firm Ep 168 with Michele Williams * How Successful Interior Designers Delegate to Their Team Ep 135 with Michele Williams * The 12 Week Year: Get More Done in 12 Weeks than Others Do in 12 Months by Brian P. Moran
182: Managing to a Budget in Your Design Firm with Michele Williams Do you currently create a budget for your new year and then manage to it? If so, you are going to enjoy this podcast. If not, I ask that you listen with an open mind and perhaps are swayed to begin this process of financial management. Either way – let’s talk about budgets and how to manage to them effectively in your firm.
Topics Mentioned: * Create a budget * Anchor points * Review * Plan
Key Thoughts: * Creating a budget can be a very detailed, arduous task, or it can be an opportunity to create a financial pathway to success. Michele (2:31) * The first step is to create a budget. I love to create mine simply by going into my QuickBooks Profit and Loss statement for the prior year and downloading it into Excel. The beauty of this is that it allows my budgeting to match line by line to my accounting software. Michele (3:01) * Creating a plan for the income that you expect is crucial to your ability to manage your finances with reduced stress. Michele (7:28) * That is the beauty of a budget. It is a blueprint for spending. It is like creating your meal plan or packing list for a trip and then going a bit on auto pilot knowing everything will work together. Michele (10:57)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * How to Easily Set Reachable Money Goals in Your Design Firm Ep 138 with Michele Williams * How to Easily Manage the Money Goals In Your Design Firm Ep 140 with Michele Williams
181: Working With a Recruiting Agency for Your Design Firm with Paige Risley and Beth Moffatt Joining me on the podcast today are Paige Risley and Beth Moffatt of We Recruit Well, both of these women have worked in the online space, both in positions of being virtual assistants. And now they have pulled together their resources and created a company, We Recruit Well, where they help place online resources for your company. And so we're going to talk today about what that process looks like, how to be prepared for hiring, and how to make sure that you are matched with the correct person.
Topics Mentioned: * Online Assistance * Hiring * Preparation * Interviews
Key Thoughts: * We're looking specifically for somebody that can fit and work with that specific business owner and within their industry. Paige Risley (10:19) * I think many businesses have learned over the last two years, that there is an opportunity to find candidates with higher skill sets and the pandemic has shown us that remote works. I can imagine the virtual world has exploded over the last two years because people are realizing you don't have to be beside me. Michele (20:28) * We can help you talk through all the different areas where you see gaps, and help you figure out how many hours a week you may need. But I will tell you, I don't think we've ever had anyone start out at 5 or 10 hours a week that didn't immediately grow to 20, 30, even up to full time. Beth Moffatt (22:25) * We want to see someone who really wants to serve, it just really lights their fire to serve other people. Beth Moffatt (33:46) * I think that trust is a big piece of it. I know that all the people on my team helping me, are here to try to help me do all the other things so I can go do the work I do best. Michele (36:26) * A personal indicator that I need help is I am not sleeping at night, I don't want to get out and go on my run, I am exhausted and my brain doesn't shut down. That's an indication I'm doing too much and I need help. I need to start off-boarding things. You don't want to get there. The joy of that virtual assistant is if you bring somebody in at 5 or 10 hours a week, they have plenty of room to grow with you. Paige Risley (46:13) * When a company itself works well internally, and the overflow of that, to the companies that have the ability to work with them in some capacity, it's heightened and noticeable. Michele (50:05)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Paige and Beth: * Email: hello@werecruitwell.com * Website: WeRecruitWell.com * LinkedIn: We Recruit Well * Facebook: We Recruit Well * Instagram: @werecruitwell * Pinterest: @werecruitwell
References and Resources: * AIM Masterclass - Watch now * EP 134: How to Hire the Best Assistant for Your Interior Design Business with Laura Licursi * EP 135: How Successful Interior Designers Delegate to Their Team with Michele Williams * EP 168: How to Hire an Ops Person for Your Design Firm with Michele Williams
180: Financial Management and Oversight in Your Design Firm with Peter Lang Joining me on the podcast today is Peter Lang, owner of the designer CPA, Peter and I both have a heart for supporting this industry with good financial practices and understanding. And today we're going to talk about what we see as kind of the lifecycle, if you will, of bookkeeping and bookkeeping needs and the overwhelming hole and desire in the industry to have better bookkeeping practices. So I hope you enjoy the podcast and are able to see where you fit in the bookkeeping trajectory.
Topics Mentioned: * Bookkeeping * Accounting * Hiring * Internal processes
Key Thoughts: * When all the work comes, whether it's the accounting, the bookkeeping, or the financials, you're going to start seeing fracture points in a business; when the weight comes in, you're going to see the weak links. Michele (3:19) * The longer you wait to start, the longer it's going to take to fix and then it's just like a snowball and you just don't want to get there. So, starting off on the right foot and making sure that you find the right person for your business. Peter Lang (24:36) * Don't forget that you can charge admin fees. So, if you increase your rates to include some administrative costs, or to really have a true understanding of what it takes to run your business, you can build into your fees to have the support for somebody to do the billing and the reconciliation. Michele (25:50) * Our job and our role is to support what is best for that client to give them information, to help them understand so that our clients can make the best decision for where they want to go in the business and what they want to do. Michele (46:23) * Just because you have a great situation today doesn't mean it's going to be a great situation in three months from now or next year. Peter Lang (52:16)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Peter: * Website: TheDesignerCPA.com * Facebook:TheDesignerCPA * Instagram: @thedesignercpa * Twitter: TheDesignerCPA * Email: peter@thedesignercpa.com
References and Resources: * AIM Masterclass - Watch now
179: Setting and Revising Your Financial Goals with Michele Williams Each year we go through a process of setting our financial goals for the following year, or at least we should. And I don’t use the “should” word without consideration. Many of us hate to be told what to do, so my hope is that in this podcast you understand the why behind it and you decide for yourself that you ‘should’ create financial goals.
Topics Mentioned: * Metrics * Financial goals * Top-down * Bottom-up
Key Thoughts: * Taking the time to really understand my financials was a life and business saver for me – and it can be for you. Michele (2:27) * Top-down financials allows you to begin with the total sales or revenue you want to bring in. When we use this method, often we are comparing it to the prior year and choosing either a number or a percentage increase. Michele (3:03) * Bottom up starts with defining out the net profit and how it will be used. Many start by creating their salary first, then taxes and company profit, bonuses, etc. and adding all that up. Michele (4:56) * Creating this high-level financial set of goals will allow you to do other financial tasks to truly take control of your numbers. Michele (7:45)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * A Well-Designed Business by Luann Niagara & Friends * Backwards Financials For the Win Ep 11 with Tracie Taylor * Understanding Your Financials™ Course
178: Creating a Niche, Authority and Visibility Strategy for Your Design Firm with Rachael Bozsik With me today is Rachael Bozsik, an international speaker and the “go-to” elite personal branding coach for high achieving interior designers. Rachael has been featured in Forbes, Glamour, at Harvard Business School, Oprah’s Leadership Academy and more. Our conversation today will focus on building out your niche, your authority and your visibility to attract your ideal client and keep your pipeline full.Topics Mentioned:
- People pay more for a specialist
- Confidence is a muscle to be flexed
- Create leveraged trust
- Have a velvet rope policy
Key Thoughts: * What I recognized was, it's an issue in personal branding. They needed to identify who they are and how to market themselves. Rachael Bozsik (7:03) * If we focus on the not yet, it leads to anxiety, because all we can see is we haven't made it, it's on the horizon. But if we stop and look backwards, and balance that out, we can see what we have accomplished that has prepared us to be where we are and for what we're going to do. Michele (15:17) * It's usually a disconnect between understanding the value and quality of what you're already putting out there and being able to capitalize on that, and the velvet rope policy. Michele (32:35) * If you want to be solid, you cannot be positioning yourself as a general expert. Rachael Bozsik (33:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Rachael: * Website: RachaelBozsik.com * Instagram: @rachaelbozsik * Email: rachael@rachaelbozsik.com
References and Resources: * AIM Masterclass - Watch now * EP 027: Referrals Without Asking For A Full Pipeline with Stacey Brown Randall * 142: 3 Reasons to Take Your Design Business on Vacation with Michele Williams * EP: 150: 6 Layers of Referral Strategy for Your Interior Design Business with Stacey Brown Randall
177: Measuring What Matters in Your Design Firm with Michele Williams Welcome to 2022! This year we are going to focus on metrics in our companies. Identifying what metrics are, what we need, and how to go about monitoring them. Last year it was all about strategy – and this year all about how to make the strategy work. Listen in for tips and tricks that will help you determine if you are still on task or not.
Topics Mentioned: * Metrics * Focus * Analysis * Standards
Key Thoughts: * One of the most important sections in a strategic plan is where you create metrics to aim for as you grow in your business. And while creating these measurements needs to be done, what is most important is actually measuring to a measuring stick. Michele (2:03) * We need to determine what we are going to measure, when we are going to measure it, how we are going to do that, and when are we going to review what we have measured. Michele (4:11) * It is so very important to create time budgets for projects and then measure to them with time tracking, both in the amount of time the tasks took as well as measuring to a completion date. Keeping up with your hourly tracking can provide a wealth of knowledge as you analyze what is working and not working in your firm. Michele (5:16) * Each person on your team should have something that they are measuring within their job description, and they should know how that action or activity will generate profits for the company. Everyone impacts profits. Michele (7:21)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now
176: Building a Mindset of Resilience in Your Business with Ceil DiGuglielmo I am so excited to welcome Ceil DiGuglielmo of the Sew Much More podcast back to share the podcast with me continuing a 4-year tradition of reviewing our year and preparing for the next. Ceil is the owner of the custom drapery workroom, Sew Much More, a podcast by the same name, the owner of the Curtains and Soft Furnishings Resource Library, and the publisher of the Drapery & Design Digital Digest. Enjoy listening to us dig into the challenges and shifts that happened in 2021 and find out what books are on our holiday reading list.
Topics Mentioned: * Resiliency * Change * Favorite book of the year * Year review
Key Thoughts: * I do love that about so many of the people in our industry, we just keep going. We got handed a curveball. Now let's pivot and let's figure something else out. Ceil DiGuglielmo (3:55) * I think having the perseverance, the resilience, the tenacity, to hold on and to work through it. It is about making sure that that we are owning everything and that we're being intentional so that you don't get blindsided. Michele (5:04) * I think that when we move back to more US based manufacturing, and we are really looking at the quality of what these craftspeople are creating, and the price that we're paying for it, I think it could shift us back to quality pieces that have longevity in the home versus such a throwaway mentality. Michele (13:31) * I think there are so many wonderful things that came out of the pandemic that taught us how to be resilient and how to pivot. Ceil DiGuglielmo (19:25)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ceil: * Website: The Sew Much More Podcast * Website: The Curtains and Soft Furnishings Resource Library * Facebook: The Sew Much More Podcast * Facebook: The Curtains and Soft Furnishings Resource Library * Instagram: @ceildi * Instagram: @csf_resource_library * Email: ceilwdi@gmail.com
References and Resources: * AIM Masterclass - Watch now * The 4 Disciplines of Execution by Chris McChesney * Free to Focus by Michael Hyatt * The Vision Driven Leader by Michael Hyatt * Everyone Deserves a Great Manager by Scott Miller * Get Different by Mike Michalowicz * Atomic Habits by James Clear * Getting Things Done by David Allen
175: Ending the Year Well for Your Design Business with Michele Williams Can we just talk for a few minutes about what it means to end the year well? Does it mean to have every job go our way? Does it mean to make more money than ever? Does it mean to barely get through it but still be standing? On today’s podcast we are going to chat about ending the year well – defining that – and using the little time we have left to do it.
Topics Mentioned: * Define well for your company * Plan in advance * Be intentional
Key Thoughts: * Finishing well means to complete the critical items in the best way my team and I know how. Never sloppy. Never half done. Fully done, and fully done in a way that makes us all proud. Michele (2:06) * It is always a great time to dial in your marketing strategy – meaning: Messaging, Branding, Channel – are you saying what your ideal client needs to hear and are you saying it in a way they understand and that resonates with them – and are you saying it where they are reading it? Michele (6:00) * Stay steady. Sometimes the hardest part is that - staying steady. Michele (7:02) * Know what is most important to you – and preserve it. Michele (8:49)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now
174: Importance of Finance Management for Interior Designers with Damari Gold With us today is Damari Gold, owner of The Gold Standard Accounting & Tax firm. Damari is passionate about helping small business owners understand their money. So you can easily see why I am excited to have her on the podcast.
We will be talking about the yes and no items for tax deductions, the importance of CFO days in your firm, and why we need a tax plan. Enjoy the conversation!
Topics Mentioned: * Define your industry * Create a tax plan * Have CFO days * Consistency is key
Key Thoughts: * I don't know if you've experienced this, you go into tax offices, they're all gloomy and gray and just not fun. So, I set out to be different and set myself apart from that. Damari Gold (04:26) * One of the things that I always tell my clients when they come to me, and I guess one of the very first things I do when we start working together, just look at their financials. Simply because as long as the numbers are being input correctly, they don't lie. Michele (6:24) * If you don't like the story that the numbers are telling, we need to change the decisions, the inputs, and the choices, so that we can create a new story, and then we can tell them what to do, where to go, and how to get there. Michele (7:09) * It is always better to do the preparation during the year as opposed to doing it at the end of the year, or trying to piece it together at a time when you're getting audited. Damari Gold (11:54) * Being able to handle the taxes of both the business and the family, the earlier we do it, the better off we're going to be. Michele (31:05)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Damari Gold: * Website: DamariGold.com * Facebook: DamariGold * Instagram: @damarigold * Email: damari@tgsaccounting.com
References and Resources: * AIM Masterclass - Watch now * Profit First by Mike Michalowicz * Pricing Without Emotion® * Understanding Your Financials™ * Master Your Profit®
173: How to Cope When Being the Boss Sucks with Michele Williams Today’s podcast is a request by more than one client of mine. You see, owning a business is not all roses and profits – it means owning the hard and sometimes yukky parts, too. Let’s dig in to learn some coping mechanisms and strategies for dealing with the parts of business that suck.
Topics Mentioned: * 5 E-Strategy * Communication * Intention * Leadership
Key Thoughts: * The biggest area of difficulty as businesses grow is not just the financial burden and monitoring – but the people management. Michele (3:10) * Educate on the job and tasks needed. Equip your employee with all they need to get the job done well. Set clear expectations so they know what to do, when, how, and in what format you want the deliverables. Empower them to get the job done, and encourage them along the way. Michele (4:10) * Another area around the people part of the company to consider- and most of you have heard this statement, “Hire slowly, fire fast.” This is truth. Michele (6:34) * When we think about other difficulties outside of the teams we are building and working with, the other problems that arise seem to be focused on marketing and sales, finances, and operations. This is exactly why we work through being intentional about everything and creating repeatable processes to reduce stress in my coaching practice. Michele (9:08)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * Pricing Without Emotion® * Understanding Your Financials™ * Master Your Profit® * One Minute Manager by Ken Blanchard * Management Would Be Easy…If it Weren’t for the People by Patricia Addesso * HR Assistance: Bambee
172: 4 Areas to Build Processes in Your Design Firm with Debra Scarpa and Ashley Blaesing Joining me on the podcast today are Debra Scarpa and Ashley Blaesing of Home Designer Marketing. We are going to talk systems and processes which you all know by now is a favorite topic of mine. We will look at the benefits of having systems, which areas of the company we need to create them in, and go over an idea of the types of systems that will make our work more efficient. Enjoy the podcast.
Topics Mentioned: * Systems * Processes * Profitability
Key Thoughts: * There's one thing about being design-oriented. There's another thing about being into beauty, but I think that systems and processes are left-brain logical, but there is beautiful creativity in that process. Michele (8:34) * I am such a strong visionary, that as you know, if you're a really strong visionary, you need to have a super-strong integrator in order to be able to, like push back and stand up. Debra Scarpa (12:17) * Anytime we can't find a point of agreement, that's when things start to fall apart. But if we can at least agree on what the end result needs to be or look like or feel like, then we're all at least moving in the same direction. Michele (18:52) * How much time can we save you by setting up a template for you where maybe you just change one sentence? Ashley Blaesing (23:35) * I think having a system to analyze data because it's not enough to create all these systems that we have talked about today if we're not analyzing what's coming out of it. Michele (59:48)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Debra and Ashley: * Website: HomeDesignerMarketing.com * Facebook: Home Designer Marketing * Instagram: @homedesignermarketing * Pinterest: Home Designer Marketing * YouTube: Home Designer Marketing * LinkedIn: Home Designer Marketing * Email: debra@homedesignermarketing.com
References and Resources: * AIM Masterclass - Watch now * Begin with the End in Mind EP 110 with Michele Williams * Traction by Gino Wickman * Profit First by Mike Michalowicz
171: How to Create an Interior Design Business to Sell with John Warrillow John Warrillow is the founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide. He is the author of Built to Sell: Creating a Business That Can Thrive Without You, The Automatic Customer: Creating a Subscription Business in Any Industry, and The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top. John also hosts the popular podcast, Built to Sell Radio. Today, we are talking about how to create a business to sell, the difference between a job and a business, and who needs to be on your team.
Topics Mentioned: * Niche * Recurring Revenue * Product Offering * Time
Key Thoughts: * If you're doing the selling and you're still supervising the work, your company is worthless. John Warrillow (4:33) * It is not very easy, in my estimation to sit down on the day that you decide you want to sell and sell if you haven't prepared in advance to be able to do that. Michele Williams (20:03) * Giving away your time for less than your worth is a symptom of this larger problem, which is wanting to be appreciated, wanting to be loved and needed and, being acknowledged for what you do, makes people squeamish about charging for what they do. John Warrillow (33:05) * It's hard because it's almost like watching somebody come in and totally retool everything that you've done that you thought worked so well that got you to where you are and then you have to sit and support it and rah, rah, ree, and cheer right behind it. Michele Williams (40:24)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact John: * Website: BuiltToSell.com * Facebook: Built To Sell * Twitter: @JohnWarrillow * LinkedIn: John Warrillow * Email: John@valuebuilder.com
References and Resources: * AIM Masterclass - Watch now * Built to Sell, Automatic Customer, and Art of Selling your Business by John Warrillow * Built to Sell Radio - Podcast * BuilttoSell.com/profit - Downloadable on the 9 Subscription Model
170: The Scarlet Thread Origin Story with Michele Williams On the podcast today I’m going to share my origin story. Some of you have reached out to me and asked me to share more and that you want to hear more. And so I thought it would be a great thing to just put my story out there beginning to end. That's what I'm going to do today. I hope that there's something that you can take away from it and that it inspires you.
Topics Mentioned: * Your Why * Strengths * Experiences * Uniqueness
Key Thoughts: * I started this business because I had been in the business for a while and had really started to see the effects of a lack of profitability, a high tolerance for low pay, not understanding the numbers and what they meant in the business. Michele (1:08) * I started going home to home, making everybody's window treatments and helping them with paint colors and the small accessories and pulling the rooms together. That's how my business started up in upstairs and the sitting room of our bedroom. Michele (9:51) * I have always focused on helping people understand money and numbers in their business because I'm definitely a more left-brain logical person, right-brained creative; so, when I think about a problem I think first logically, what do we do, and then try to get creative in my problem-solving. Michele (22:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now
170: The Scarlet Thread Origin Story with Michele Williams On the podcast today I’m going to share my origin story. Some of you have reached out to me and asked me to share more and that you want to hear more. And so I thought it would be a great thing to just put my story out there beginning to end. That's what I'm going to do today. I hope that there's something that you can take away from it and that it inspires you.
Topics Mentioned: * Your Why * Strengths * Experiences * Uniqueness
Key Thoughts: * I started this business because I had been in the business for a while and had really started to see the effects of a lack of profitability, a high tolerance for low pay, not understanding the numbers and what they meant in the business. Michele (1:08) * I started going home to home, making everybody's window treatments and helping them with paint colors and the small accessories and pulling the rooms together. That's how my business started up in upstairs and the sitting room of our bedroom. Michele (9:51) * I have always focused on helping people understand money and numbers in their business because I'm definitely a more left-brain logical person, right-brained creative; so, when I think about a problem I think first logically, what do we do, and then try to get creative in my problem-solving. Michele (22:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now
169: Growing Your Design Business With Your Spouse with Ben and Jenny Slingerland Joining me on the podcast today are Jenny and Ben Slingerland of Black Ink Interiors. Jenny and Ben are clients of mine who have had tremendous growth over the last year. Today they are going to share their story of how they began working together in the company, how their business has morphed over the years, and how they each have their area of specialty that makes it all work.
Topics Mentioned: * Husband and wife team * Business growth * Scaling * Visionary and Integrator
Key Thoughts: * The idea of being in total control of your, your life, lifestyle, schedule. That's probably the biggest motivating factor. We control our destiny, and we can control our lives and how we schedule things and that's a big motivating factor. Ben Slingerland (14:28)
- I think before you were to make a jump into a situation of working with your spouse, it would literally be asking yourself if other than the six hours you're sleeping at night, can you stand to be with that person every day and to get feedback when needed? Jenny Slingerland (21:28)
- Everybody knows there's got to be somebody driving hard in front, and somebody standing there manipulating behind the scenes and making everything work. That is the beauty of what two of you have created together. Michele Williams (23:22)
- Some of the things that I teach around financials and hiring are lessons that if learned, it's not just an investment or the ROI within that first year, it's the ROI of every single year after that, where you now know that you have the knowledge, you have the skill set, you have the tools to do something. It is now a return on investment year over year over year over year, because you've learned that idea or that skill. Michele Williams (27:05)
- You gave us tools to help us look at things differently to see the key performance indicators, to break things down in a way, to analyze the financials in a different way, so that we could take insights from them, and then also to look beyond just a year right. Ben Slingerland (30:16)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ben and Jenny: * Website: www.blackinkinteriors.com * Instagram: @black.ink.interiors * Facebook: BlackInkInteriorsAZ * Pinterest: Black Ink Interior * Twitter: Black Ink Interiors * LinkedIn: Black Ink Interiors * Houzz: Black Ink Interiors * Email: orders@blackinkinteriors.com
References and Resources: * AIM Masterclass - Watch now * E-Myth Revisited by Michael E. Gerber * Traction by Gino Wickman
169: Growing Your Design Business With Your Spouse with Ben and Jenny Slingerland Joining me on the podcast today are Jenny and Ben Slingerland of Black Ink Interiors. Jenny and Ben are clients of mine who have had tremendous growth over the last year. Today they are going to share their story of how they began working together in the company, how their business has morphed over the years, and how they each have their area of specialty that makes it all work.
Topics Mentioned: * Husband and wife team * Business growth * Scaling * Visionary and Integrator
Key Thoughts: * The idea of being in total control of your, your life, lifestyle, schedule. That's probably the biggest motivating factor. We control our destiny, and we can control our lives and how we schedule things and that's a big motivating factor. Ben Slingerland (14:28)
- I think before you were to make a jump into a situation of working with your spouse, it would literally be asking yourself if other than the six hours you're sleeping at night, can you stand to be with that person every day and to get feedback when needed? Jenny Slingerland (21:28)
- Everybody knows there's got to be somebody driving hard in front, and somebody standing there manipulating behind the scenes and making everything work. That is the beauty of what two of you have created together. Michele Williams (23:22)
- Some of the things that I teach around financials and hiring are lessons that if learned, it's not just an investment or the ROI within that first year, it's the ROI of every single year after that, where you now know that you have the knowledge, you have the skill set, you have the tools to do something. It is now a return on investment year over year over year over year, because you've learned that idea or that skill. Michele Williams (27:05)
- You gave us tools to help us look at things differently to see the key performance indicators, to break things down in a way, to analyze the financials in a different way, so that we could take insights from them, and then also to look beyond just a year right. Ben Slingerland (30:16)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Ben and Jenny: * Website: www.blackinkinteriors.com * Instagram: @black.ink.interiors * Facebook: BlackInkInteriorsAZ * Pinterest: Black Ink Interior * Twitter: Black Ink Interiors * LinkedIn: Black Ink Interiors * Houzz: Black Ink Interiors * Email: orders@blackinkinteriors.com
References and Resources: * AIM Masterclass - Watch now * E-Myth Revisited by Michael E. Gerber * Traction by Gino Wickman
168: How to Hire an Ops Person for Your Design Firm with Michele Williams and Kelcee Sparks Joining me today on the podcast is Kelcee Sparks. Kelcee is the Director of Operations and Success for my company, and we've been together for almost a year. We're going to talk about what it's like to hire an operations person, why you need one, and actually how to hand off the work that sometimes can be very difficult to let go of. I hope you enjoy our conversation.
Topics Mentioned: * Operations * Build Trust * Zone of Genius * Process
Key Thoughts: * I think what's always cool about these ops positions is that it's different for everyone, because you're truly coming in to complement the genius of the CEO that you're working for. Kelcee Sparks (5:52) * On the back end, there are a lot of people on my team, making things work from automation workflows, to really making sure that we support our clients. Michele (6:58) * I know I'm saving you time; I know I'm helping you create a more efficient business. I know I'm helping you provide your clients, better customer service and better information. And that's what really sets my soul on fire. Kelcee Sparks (10:22) * One of the things that I also was looking for in the person I hired was somebody who could not just take direction, but who could equally give input and be part of a forward strategy. I didn't just want a “Yes man”. Michele (20:59)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * Traction by Gino Wickman * E-Myth Revisited by Michael E. Gerber * Clockwork by Mike Michalowicz
167: How to Build Trust In Marketing Your Design Firm with Andy Seely Joining us today is Andy Seeley, CEO and Co-Founder of Creatively Disruptive, a digital marketing agency built by a team of professional nerds that work together as the Small Business Champions. Andy is a Small Business Marketing Expert and he is committed to helping businesses keep up with all the latest algorithms to make sure they are getting their money’s worth for their online advertising.
Topics Mentioned: * Email-marketing * Retargeting * Trust * Results
Key Thoughts: * It's about actually crafting your business with the right client base on your demand. Andy Seely (17:24) * If all of my designers are listening here, we talk about all the time, we're selling feelings, not things. Michele (20:55) * The power of email is that it doesn't cost you anything once you've got it. It costs you some effort and it costs you sharing some of your knowledge, but you're not paying 50 cents a click. Andy Seely (23:26) * I had heard one time you can tell somebody what to do all day long, but the difference is, do they have the time and the ability to do it. And that's why I know when I talk about when people are hiring us, they're not just hiring us for what we know, they're hiring us for the expertise to implement it. Michele (28:05) * We are sharing you; we are showing that you trust your clients as much as you want your clients to trust you. Andy Seely (32:47)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Andy: * Website: creativelydisruptive.com * Twitter: @AndyDisruption * LinkedIn: Andy Seely
References and Resources: * AIM Masterclass - Watch now
165: Why Relationships are Key to Scaling Your Design Firm with Sarah Walker With me today on the podcast is Sarah Walker of Nuance Interiors in Washington State. Sarah has just opened high end showroom in the Pacific Northwest catering to builders and other designers. We are going to discuss her journey in design, how she chose to step out of the comfortable and take a risk, and what she would do differently next time.
Topics Mentioned: * Pre-planning * Relationship building * Luxury experience
Key Thoughts: * I think every designer needs some level of business class. It's understanding what it takes for that firm or your own firm to stay in business. Michele (08:35) * I would say a lot of my successes as a designer is who I know and who I'm connected with, and really supporting my vendors as they support me. Sarah Walker (15:48) * I also partnered with a Profit First accountant, and we actually review costs quarterly. I can categorize my expenses on a weekly basis so I'm really aware of what's going out, cost wise right now. Sarah Walker (30:28) * Another point is to look at the SBA loans like you did. Do you buy the building? Do you rent the building? There's a lot that goes into those conversations. Michele (34:10)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Sarah: * Website: nuanceinteriors.com * Instagram: @nuanceinteriors * Facebook: nuanceinteriors * Pinterest: nuanceinteriors * Email: sarah@nuanceinteriors.com
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * Book Yourself Solid by Michael Port
164: How to Prepare for a Deep Dive Strategy Session with Michele Williams There comes a time for every business owner where they know a cursory glance over their business is not enough. They must do a deep dive into the company to check for workflows, profitability, products, services and more. And this deep dive can be overwhelming if not done methodically – because there are rabbit trails that quickly show up! On today’s podcast I am going to share with you my recent deep dive strategies, how they worked, and what could be improved. Enjoy!
Topics Mentioned: * Strategy session * Agenda * Document * Prioritize
Key Thoughts: * Step one in preparing for a deep dive session is to create an agenda. Michele (2:11) * Step two was to leave room on the agenda for new items to emerge and for the scope to morph. Michele (2:54) * Step three is to create a plan to take notes and capture outcomes. Michele (5:05) * Creating time to step back from the day to day and to revisit workflows, processes and documents can be difficult – but the investment is amazing. Michele (10:29)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * ReMarkable 2 Tablet
163: How to Leverage Leadership in Scaling Your Design Firm with Jenni Egger With me today on the podcast is Jenni Egger of Jenni Egger Designs. Jenni is one of my coaching clients and she has built a wonderful business in Indiana. Jenni had a career prior to her design firm working with the Estee Lauder Corporation. We are going to discuss what she learned from that company that gave her a specific insight into building and scaling her current firm.
Topics Mentioned: * Managing for results * Talent management * Family
Key Thoughts: * We don't want to cram people into a position, we want to align the position with the talent so that people are working in their zone of genius in an area, they love doing the things that they're well suited for, and have a skill set. Michele (6:42) * Identifying the talent and then fitting them in the right job times investment equaled growth. Jenni Egger (7:04) * If you take care of your staff and your team members, they will take care of your clients. Michele (15:28) * Something I believe in is you look at what you already own, what you already have what you already possess, that you can just make better. Jenni Egger (28:39)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Jenni: * Website: JenniEggerDesigns.com * Instagram: @jennieggerdesigns * Facebook: jennieggerdesigns * Email: jenni@jennieggerdesigns.com
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * The Company I Keep by Leonard A. Lauder * Ways to Make Your Interior Design Business More Fun - EP 149 with Michele Williams
162: 3 Strategies to Fit Your Design Business Into Your Life with Michele Williams If you are following along with my newsletter challenges, then you are working to determine what is critical for you and your team to complete this year. (By the way, if you don’t get my newsletter, go to www.scarletthreadconsulting.com and sign up or download any of my free offerings.) And as you are focusing on what is really critical you may be looking at a task list that is longer than your calendar has months left in the year.
Today we are going to talk about fitting your business into your life instead of fitting your life into your business. I hope you find some great take-aways to lighten the load.
Topics Mentioned: * Calendar * Create boundaries * Identify What You Want
Key Thoughts: * We start our business to live the life that we desire, but quickly, we find that we are always working and not living. So how do we keep the tension between these two areas in a safe place? . Michele (2:00) * At the beginning of each year, I go to my work calendar (or actually a personal Google calendar that is linked to my work calendar), and I mark off every day I want to take off – for any reason. Michele (3:44) * I had not created the space in my own life to have joy, love, kindness, and peace show up as a natural byproduct. Michele (6:42) * I learned to create boundaries around work and life. My life was scheduled, and then I scheduled my work. This allowed me to fit in work – not fit in my life. Michele (9:51)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * 3 Reasons to Take Your Design Business on Vacation - EP 142 with Michele Williams * Dynamics of an Entrepreneurial Family - EP 77 with Brantley and Harrison Williams
161: How to View Your Relationship with Money in Your Design Firm with Aimee LaLiberti With us on the podcast today is Aimee LaLiberte. Aimee is the owner of My Virtual CFO and is also a life and money coach. We are chatting about having a relationship with money – the good and the bad. Listen in as we talk about money being neutral and amoral. Afterward, leave yourself some time to reflect on how money was viewed by your family during your childhood and how that influences the type of business you run today.
Topics Mentioned: * Beliefs * Money mindset * Comparison * Resistance
Key Thoughts: * Money doesn't have a morality. It's what we do with it and how we handle it. It's our choices that that are morally inclined, but money is just an object. Michele (10:51) * I think sometimes breaking apart the constructs that we've held, can really kind of shake us when we realized that they were never true. Michele (17:22) * What I found every time I've grown my business, it has been when I've let go of this pre-determined agenda that I've had about myself, that you need to work really hard in order to get ahead. As soon as I dropped that and said, I believe in myself, it's always unfolded. Amy LaLiberte (19:40) * Price it properly and serve them and the rest is going to take care of itself as far as the ability to make money. Michele (22:14) * When I really started to examine my work hard attitude and work life balance, I realized this is not what I preach to my clients. Why is it that I would never want to hear my clients doing this, and yet it's acceptable to me? It was really that moment where I had to take a step back and say, okay, something's got to give, what do I need to do? Amy LaLiberte (23:30)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Aimee: * Website: My Virtual CFO * Instagram: @MyVirtualCFO * Facebook: MyVirtualCFO * LinkedIn: Aimee LaLiberte * Email: aimee@myvirtualcfo.co
References and Resources: * AIM Masterclass - Watch now * Toilet Paper Entrepreneur, Fix This Next, Profit First, Pumpkin Plan by Mike Michalowicz * Pricing Without Emotion® * Understanding Your Financials™ * Master Your Profit®
160: Building Profitability Into Your Design Business with Michele Williams When I started my podcast journey in September of 2018, I knew I would only do it if I could have the time and resources to do it well and consistently. I have now wrapped up 3 full years of podcasting and this is the start of year 4. Thank you all for continuing to be willing to listen, share, and talk about the choices that make our businesses and lives profitable. I would love for you to leave a review of the podcast on your favorite listening device. I believe there is more to be done and uncovered – so cheers to the beginning of year 4 of Profit Is A Choice.
Topics Mentioned: * Review * Profitability * Strategic Plan
Key Thoughts: * In episode 112 I shared 6 ways to remove overwhelm in your business. Two of my favorites are to stop and breathe, then focus on the next ONE thing. The other four ideas aren’t too shabby either. Michele (3:24) * Strategic plans are the conversation of the year for me. In episode 129 I share with you why you need one. Actually – I share 5 reasons you need one. Michele (8:48) * Reviewing a year like this really reminds me of the varied experiences in our industry and it allows me to think bigger than I might sometimes think on my own. It can do the same for you. Michele (19:46)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7-Figure Case Study * Play to Your Strengths - EP 35 with Darren Virassammy * Who Should I Hire First: Admin Assistance or Junior Designer? by Michele Williams * StrengthsFinder Assessment
159: How to Create Profit in your Design Firm with SideDoor with Chad Smith Joining me today is Chad Smith of SideDoor. Chad is an entrepreneur with a long background in the design industry. On today’s podcast we are discussing how to monetize and streamline the ordering and procurement process by using an online tool that has digitized the order process. SideDoor can be used in a multitude of ways in your business, and I hope you are as excited about learning and considering the opportunities as I am.
Topics Mentioned: * Purchasing product * Ease of process * Digital ordering and catalog
Key Thoughts: * We're all trying different things, in shifting our business practices and industries around us are shifting. But we learned from each one of those endeavors, and then take that into the next one. Michele (3:03) * That's what's so helpful for programs like yours, teachings like yours podcast like this, because the reality is, what drives success for the business owner is, frankly, the repetition of like some of the boring basics, if you will, those are the things that make the difference. Chad Smith (11:11) * I can assure you, in my experience, people aren't going to solve your problem. They may help once you have those processes in place you help your firm grow. Chad Smith (15:05) * In this whole microcosm of design, SideDoor gives an opportunity for vendors, even smaller vendors, the opportunity to get in front of designers, to sell their product. Michele (31:35)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Chad: * Website: On SideDoor * Instagram: @onsidedoor * Email: chad@onsidedoor.com
References and Resources: * AIM Masterclass - Watch now * 7-Figure Case Study - Download here
158: How to Get Unstuck in Your Interior Design Business with Misty Molloy Joining me on the podcast today is Misty Molloy of CoCreative Interiors. Misty began her design business a little over a year ago and has had rapid growth both in the development of her business and in her designs. After working through her financials, Misty experienced some overwhelm which lead to her getting stuck with how to move forward. Listen in as we dissect her challenge, remove obstacles, and make a path forward for her.
Topics Mentioned: * Growth * Plan * Action * Overwhelm
Key Thoughts: * I started my business with the foundation in mind because I recognized how important the business principles and the foundation are to the success of a business. Misty Molloy (6:38) * How do I recognize and achieve the challenge of a business plan, and accomplish it without exhausting and killing myself? Michele (15:10) * The more that you know, and recognize what you are perfectly poised to do, the more you're going to recognize it when it hits your desk and you get to talk to the client about it. Michele (25:58) * One of the things that are interesting is this idea of balancing what you want and what the market wants. That's part of where I get stuck - just because you build it doesn't mean they will come. Misty Molloy (28:06) * I think that in our businesses, we can hit that same wall, like I've made so many decisions, I just don't want to make the next one. And then whatever comes up, we put a block up against it. Michele (35:56) * I think that's the ultimate value of coaching is having someone who can help identify the roadblocks and create that framework for busting through those roadblocks. Misty Molloy (53:46)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Misty: * Website: CoCreative Interiors * Instagram: @cocreativeinteriors * Facebook: CoCreative Interiors * Email: misty@cocreativeinteriors.com
References and Resources: * AIM Masterclass - Watch now * 7-Figure Case Study - Download here
157: How to Hire for the Weaknesses in Your Design Firm At some point we all need to consider hiring. But have you considered hiring for the weaknesses in your firm? In this episode we will look at how to identify the weaknesses of your firm, how to use the StrengthsFinder 2.0 assessment tool to gain clarity on what is missing, and how to choose between two weak areas to determine which position to hire for first.
Topics Mentioned: * Hiring * StrengthsFinder * Decision making
Key Thoughts: * The more stress put on an object, the more the weak areas present. And the same holds true in business. Michele (1:48) * Knowing my weaknesses, has really helped me in hiring people who had a natural ability that I did not, and then create processes and systems to assist me in meeting the needs of my clients and my business for the areas that do not come as naturally to me. Michele (5:49) * Hiring when you're overwhelmed where you can't fully train or onboard could lead to disaster. Make sure that you have a training plan created in advance before bringing on your next team member. Michele (9:44)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7-Figure Case Study * Play to Your Strengths - EP 35 with Darren Virassammy * Who Should I Hire First: Admin Assistance or Junior Designer? by Michele Williams * StrengthsFinder Assessment
156: How to Have a Successful Brand Photo Shoot for Your Design Firm with Catrina Maxwell Catrina Maxwell from Cat Max Photography is joining me on the podcast today to talk all about how to create a successful brand and lifestyle photo shoot. Cat and I recently worked together to create my new photos and her process was top-notch. I loved crafting the story lines, then taking the pictures to tell the story. Listen in as Cat shares her journey in photography and how we can take photos that allow us to make human connections.
Topics Mentioned: * Story * Pre-planning * Human connection * Joy
Key Thoughts: * Sometimes those yeses that seem a little bit off the beaten path can sometimes become the path later. Michele (10:38) * Highlighting women entrepreneurs and helping them to be successful in telling their story through those editorial pieces, just kind of lit a fire in me. Catrina Maxwell (11:59) * It's not just your interiors, you have a headshot, you have lifestyle, you have behind the scenes, you have personality that's going to go with all of this. And it tells your whole story. Catrina Maxwell (13:57) * Sometimes, some things that we do, we almost take for granted that either everybody knows we do it, or that it maybe doesn't hold the level of importance. Michele (45:11) * I think it's amazing how God doesn't waste anything. Michele (1:01:02)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Cat: * Website: Cat Max Photography * Instagram: @catmaxphoto * Facebook: CatMaxPhotography * LinkedIn: Cat Max Photography * Email: catmax@catmaxphotography.com
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here
155: 3 Ways to Protect Your CEO Position in Your Design Firm Each firm needs a CEO. A Chief Executive Officer. Perhaps, the position does not use that label – but the work of the CEO is still needed. On the podcast today we are going to look at the role of the CEO, why it is needed, and how to protect it no matter the size of your firm.
Topics Mentioned: * CEO * Job responsibilities * Ownership
Key Thoughts: * We need to recognize that the role and the position of CEO in your company exists. Michele (4:53)
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You need to set aside time to consider the future, work on guiding your firm and your team and building up your leadership skill set. Most of this work starts with how you think and the mindset you have towards leadership. Michele (5:18)
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We want to identify the responsibilities of CEO in your firm, we may not all do it the same. Michele (6:05)
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It takes more than doing the work of the day to day to be successful. It takes oversight, management, planning and making a path forward for everyone. Michele (7:44)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * The E Myth Revisited by Michael Gerber * Traction by Gino Wickman * Clockwork by Mike Michalowicz * The Great Game of Business by Jack Stack * 3 Reasons to Take Your Business on Vacation - EP 142 with Michele Williams
154: How to Restart Your Interior Design Firm with Lesley Myrick With me today is Lesley Myrick of Lesley Myrick Interiors. Lesley is fun and has a super cool style. She is going to share with us on today the challenges of moving 3 times in 5 years and constantly restarting her business. There are some lessons learned and insight gained from these moves that can assist us all, no matter where we are in business. Listen in as Lesley shares how simplifying her offerings has been freeing and more profitable in her business, and as she shares the one big thing that helped launch her business in a new state.
Topics Mentioned: * Vulnerability and putting yourself out there * Moving to a new state * Simplifying your offerings * Coaching
Key Thoughts: * We talk about profitability in more than one way. Meaning we're not looking at just money, but the profitability of doing what we love and the profitability of relationships and the profitability of communication and all the other aspects of business and life where profitability matters. Michele (2:22) * I recommend to any designer who is new in the city or just trying to get more local exposure is reach out to your local magazines, they're always looking for content if you can come to them with great projects to photograph or photos, and a story idea. Lesley Myrick (11:18) * I want to encourage all of us the profitability of taking the step even when you're afraid like there is sometimes doesn't always work out. Michele (19:30) * When I have been open to adventure when I have been open to what God has next for us what opportunities come up, it has been way more fun. It's been terrifying, and horrible and awful and difficult too. Don't get me wrong. But it has been way more exciting and gratifying. Lesley Myrick (26:36)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Lesley: * Website: LesleyMyrick.com * Instagram: @lesleymyrick * Facebook: Lesley Myrick Interior Design * YouTube: Lesley Myrick * Email: lesley@lesleymyrick.com
References and Resources: * AIM Masterclass - Watch now
153: 3 Reasons to Set New Goals For Your Design Business Every July Here we are, midway through the year. And the question becomes, are you on track to meet your goals? I believe that July is a great time to renew your energy and also to renew your goals with a goal setting session. Listen in as we chat about the 3 reasons to set new goals in July.
Topics Mentioned: * New information * Monitoring * Energize your team * Goal setting
Key Thoughts: * When we are creating strategic plans and doing our best to manage to them over time, what we really uncover is that the closer we get to the end point we are measuring to – the more we know. Michele (1:38)
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Review the prior goal setting exercise you did. Regardless of whether you did it in November of the past year or January or March of this year. Pull it out and look at it. Michele (2:35)
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New information brings new decisions. Hopefully if you have been monitoring to the goals you set before, you can see the changes that are now coming about with intentionality. Michele (4:29)
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When we set goals at the beginning of the year, and then never look at them until December they can almost become meaningless to the team. By doing quarterly check-ins and opening up our goal setting in July for any necessary revisions, we are indicating to our team that we are serious about creating a roadmap for our success. Michele (7:56)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * 5 Reasons Successful Interior Designers Use a Strategic Plan - EP 129 with Michele Williams * How to Easily Create a Strategic Plan for Your Design Firm - EP 131 with Michele Williams * Reasons to Take Your Design Business on Vacation - EP 142 with Michele Williams
- Ways to Make Your Interior Design Business More Fun- EP 149 with Michele Williams
152: How to Choose the Best Insurance for Your Design Firm with Michelle O’Connor With me today is Michelle O’Connor of O’Connor Insurance Associates located in Charlotte, NC. Michelle and I are going to talk about what insurance is, and why we need it, discuss the different types of insurance available, when to get insurance, and when to make a claim against it. There are so many different types of insurance and knowing what serves our company best will allow us to make the best decisions to protect the business we are building.
Topics Mentioned: * Liability * Workers’ Compensation * Auto * Employer Practices Liability
Key Thoughts: * The more that your company grows, almost the more it's really about taking care of your people, and your people will take care of your clients. Michele (04:50) * The goal of insurance is to make you whole again, specifically when you had a covered insurance claim, which is the magic word there, is that it has to be something that is covered. Michelle O’Connor (12:24) * You do have to know your state guidelines when it comes to workers comp, but I will tell you, regardless of what your state guidelines are, when you hire the first employee, you really need workers compensation. Michelle O’Connor (34:49) * It takes a second, I mean if anybody's ever had a toddler you know, it takes a second for anything to happen with them. Same thing in your business. Michele (39:01) * Flood policies are separate policies. So they are not built into your business owner policy. They're not built into your homeowners’ policy. They are separate policies. So unless you have purchased and paid a premium for a flood policy, you don't have it. Michelle O’Connor (41:32) * The cost of having the insurance is negligible compared to the cost of the claim. Michele (46:44)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Michelle O’Connor: * Website: oianc.com
* LinkedIn: O'Connor Insurance Associates, Inc.
* Michelle LinkedIn: Michelle O’Connor
* Instagram: @oconnorinsuranceassociates
* Facebook: O’Connor Insurance
* Twitter: O’Connor Insurance
* YouTube: O'Connor Insurance
Pinterest: O'Connor Insurance
* Email: michelle@oianc.com
References and Resources: * AIM Masterclass - Watch now * E-Myth Revisited by Michael E. Gerber
152: How to Choose the Best Insurance for Your Design Firm with Michelle O’Connor With me today is Michelle O’Connor of O’Connor Insurance Associates located in Charlotte, NC. Michelle and I are going to talk about what insurance is, and why we need it, discuss the different types of insurance available, when to get insurance, and when to make a claim against it. There are so many different types of insurance and knowing what serves our company best will allow us to make the best decisions to protect the business we are building.
Topics Mentioned: * Liability * Workers’ Compensation * Auto * Employer Practices Liability
Key Thoughts: * The more that your company grows, almost the more it's really about taking care of your people, and your people will take care of your clients. Michele (04:50) * The goal of insurance is to make you whole again, specifically when you had a covered insurance claim, which is the magic word there, is that it has to be something that is covered. Michelle O’Connor (12:24) * You do have to know your state guidelines when it comes to workers comp, but I will tell you, regardless of what your state guidelines are, when you hire the first employee, you really need workers compensation. Michelle O’Connor (34:49) * It takes a second, I mean if anybody's ever had a toddler you know, it takes a second for anything to happen with them. Same thing in your business. Michele (39:01) * Flood policies are separate policies. So they are not built into your business owner policy. They're not built into your homeowners’ policy. They are separate policies. So unless you have purchased and paid a premium for a flood policy, you don't have it. Michelle O’Connor (41:32) * The cost of having the insurance is negligible compared to the cost of the claim. Michele (46:44)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Michelle O’Connor: * Website: oianc.com
* LinkedIn: O'Connor Insurance Associates, Inc.
* Michelle LinkedIn: Michelle O’Connor
* Instagram: @oconnorinsuranceassociates
* Facebook: O’Connor Insurance
* Twitter: O’Connor Insurance
* YouTube: O'Connor Insurance
Pinterest: O'Connor Insurance
* Email: michelle@oianc.com
References and Resources: * AIM Masterclass - Watch now * E-Myth Revisited by Michael E. Gerber
151: How to Conduct a Midyear Employee Check Up for Your Design Team with Michele Williams Years ago, employee reviews were done yearly, and they were so very formal that most people entered with some form of fear. Even those who were high performers. Why? Because you never knew how they were going to go – and the sentiment was that the reviews were always done in favor of the company.
Listen in as I break down how to do a mid-year review with each of your team members, why this is important, and how to balance the scales between what the company needs and what the employee needs.
Topics Mentioned: * Plan * Ask questions * Actively listen * Close feedback loop
Key Thoughts: * As we dive into doing reviews of any type, whether mid-year or end of year, let’s do it with the focus of coaching, leading and educating our employees so that they grow and thrive which ultimately benefits our clients. This focus will create great advantage for the company as a whole. Michele (0:50) * Be clear with yourself and your team on the importance and role of the mid-year review. Michele (1:58) * Create questions to gather the information you need and send to the employee in advance so that they can give it their time and attention. Michele (3:15) * Actively listen. I know that each of us form opinions of people and processes and situations. We are made to do that. But when you come into these meetings, try to put yourself in the shoes of your employee and see things from their position. Michele (5:28) * Create an action plan from the meeting. If goals need to be reset, reset them. If processes are broken, create a timeline and an action item to dissect the problem and correct it. Michele (7:26)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * 7 Figure Case Study - Download here * 4 Year-End Steps to Prepare Your Interior Design Business - EP 118 with Michele Williams
150: 6 Layers of Referral Strategy for Your Interior Design Business with Stacey Brown Randall With me on the podcast, today is Stacey Brown Randall. Stacey is an award-winning author of Generating Referrals Without Asking, which we talked about on episode 27 of my podcast back in 2019, and she is the host of the popular podcast, Roadmap to Grow Your Business.
Stacey and I met when we were both working together as co-authors of the book, “The Things I Learned From A Well-Designed Business – The Power Talk Friday Experts” Volume 1.
Today, Stacey and I are going to look at our referral strategy through a layering approach. There are 6 layers, and after today you will think of planting referral seeds for your business with intention. Topics Mentioned:
- Transfer of trust
- Relationship
- Referral Seeds
- Plan
Key Thoughts: * Referrals are definitely the holy grail of how people should be focused on growing their business. Stacey Brown Randall ((04:44) * When we are looking at a referral strategy through this layering lens, we're talking about a referral as we've defined it, which means there's a personal connection and a need has been identified. Michele (12:08) * Create a plan with the right language and the right kind of consistency. Stacey Brown Randall (14:37) * One aspect of that, that I just want to kind of draw a line under and maybe put a little virtual highlight on, is we don't want to do this with just any of our clients, we want to do those, do this with our clients or with those people where we want to repeat it. And we know that the leads, and the referrals are quality, and that they fit our ideal client. Michele (26:31) * We always need to be cultivating that relationship with our existing referral sources, or potential referral sources. Stacey Brown Randall (30:53) * We need to make sure that we can easily articulate who our ideal client is, or the ideal business that or need that we have. Michele (50:01)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Stacey: * Website: StaceyBrownRandall.com * LinkedIn: StaceyBRandall * Instagram: @staceybrownrandall * Email: stacey@staceybrandall.com
References and Resources: * AIM Masterclass - Watch now * A Well-Designed Business - The Power Talk Friday Experts Vol. 1 by LuAnn Nigara * Referrals Without Asking For A Full Pipeline- EP: 27 with Stacey Brown Randall
149: Ways to Make Your Interior Design Business More Fun with Michele Williams The last year and a half have been taxing for businesses, and for business owners. The time we used to take to create a great team culture and to do things together was changed to how do we all do things apart from each other. On today’s podcast we are going to dig in to why it is important to have fun in the workplace and how to do that in a multitude of ways. I hope you can take away a few new ideas for your team to build fun again.
Topics Mentioned: * Fun * Celebrations * Outings * Appreciation in the workplace
Key Thoughts: * I really want to encourage you to take a step back and look critically at your teams and ask yourself, even though they may be great at what they do, are they loving their job? Do they want to come to work every day? Michele (3:19) * Evaluate your environment, do you feel free to laugh and to smile and greet one another and to encourage your teammates. Even if you're still meeting by Zoom or online, make sure to take a moment to connect with people before diving into the serious part. Michele (5:35) * Another thing that you might want to consider is how your team members feel individually about being appreciated. Michele (13:10) * It’s never too late to begin. You don't have to wait until the New Year. Just make sure whatever you put into practice that you are consistent in the application. Michele (14:16)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * The 5 Languages of Appreciation in the Workplace: Empowering Organizations by Encouraging People by Gary Chapman
148: How to Create a Laser-Focused, Profitable Interior Design Firm with Desi Creswell With me today on the podcast is Desi Creswell. Desi is a coach focused on helping Interior Designers get out of the overwhelm and learning to live with more freedom and fulfillment. Desi is a co-author in the second edition of The Power Talk Friday Experts book produced by LuAnn Nigara and A Well-Designed Business.
Desi and I will be talking about finding focus in your business, not only in the day to day, but in the longer term as well. Stay tuned for a great conversation.
Topics Mentioned: * Focus * Ease * Constraint * Distraction
Key Thoughts: * Although I was busy, I didn't necessarily feel focused on where I was headed and also felt like I wasn't as effective as I could have been both personally and professionally. Desi Creswell (2:44) * When I started looking at the cost of some of my add ons, I started realizing, truthfully, I could do it. But did I want to pay the price to get it? Michele (5:29) * I think part of the problem that we run into as women and mothers is that we don't define what have it all actually means to us. Desi Creswell (6:43) * I can't live my life on the Peloton in business. Because at some point, I'm tired, and I've got to get off, I've got to have rest, I've got to give my body my mind. Michele (16:12) * What I teach really is a process for kind of reining in and collecting those ideas, breaking them down into really small, doable tasks, so that you're really going to see that project or initiative, or system that you're putting in place through to completion. Desi Creswell (20:28) * I just want to encourage our listeners, just start with asking yourself what you want and what you need in your home and in your family. Michele (38:28)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Desi: * Website: desicreswell.com * Daily Planner: DesiCresswell.com/daily planner * Instagram: @desicreswell * Email: desi@desiid.com
References and Resources: * AIM Masterclass - Watch now * Atomic Habits by James Clear * Miracle Morning by Hal Elrod * Procrastinate on Purpose by Rory Vaden * A Well-Designed Business - The Power Talk Friday Experts Vol. 1 by LuAnn Nigara * A Well-Designed Business - The Power Talk Friday Experts Vol. 2 by LuAnn Nigara * Managing Business Growth Expectations for Interior Designers - EP: 115 with Jeremy and Chandler Quarles * Married to an Entrepreneur - EP 64 with Michele and Joel Williams
147: How to Upscale Your Design Firm with Your Mindset with Michele Williams Everything we do begins in our minds. Yes, you heard that right. Our work is based on our thoughts about what we can and cannot accomplish. In today’s podcast we will discuss the mindset that allows us to upscale our design firm. Enjoy!
Topics Mentioned: * Fear * Success * Intentionality * Action Oriented
Key Thoughts: * I've shared in the podcast before that I was greatly impacted by the book Atomic Habits by James Clear, my big takeaway from this book was the simple fact that our actions are predicated on how we see our identity. Michele (0:58) * Part of the work to get this whole business thing back on track, was for me to stop identifying as a hobbyist and to start identifying as a business owner. And when I changed what I believed about who I was, and what I was doing, everything else changed. Michele (1:54) * Everybody feels fear. If somebody tells you they feel absolutely no fear, you need to be afraid to them. Michele (2:12) * Once we make a choice, you hear me make a choice to learn about our financials, and to manage them, some of the fears subsides and it actually becomes replaced with confidence and excitement. Michele (4:34) * As we progress in our businesses, we're going to continue to not know everything. That's what growth is all about. Michele (5:27)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now * Atomic Habits by James Clear * Pricing without Emotion® * Understanding Your Financials™ * Master Your Profit® Course
146: How to Accelerate Your Design Business with Critical Thinking with Lane McNab Joining me on the podcast today is Lane McNab of Lane McNab Interiors based in Berkeley, California. Lane had a very interesting start to her design business and some immediate success right out of the gate. In this podcast we talk about moving forward without knowing everything in advance, managing fear and risk, critical thinking, and how these elements allowed her to move forward with creating her own furniture lines. Such a great conversation and I know you will be encouraged as you listen.
Topics Mentioned: * Fear * Risk * Critical Thinking * Strengths
Key Thoughts: * One of my mantras, an internal one that I just came up with is, do something before you know too much about it to be afraid to do it. Lane McNab (13:04) * I don't necessarily have the skillset, I'm not equipped, and I don't have the grace for six miles down the road, but I have it for that next moment. Michele (14:48) * We can't focus attention and energy and effort on everything. Michele (15:56) * I think there's so much talk, in society these days of being okay with failure. I know, it's a big tech principle, you have to fail to get better. Lane McNab (18:19) * I created three principles that were our guiding lights for decision-making. So the first was the highest quality. The second was sustainability and environmental stewardship. And the third was customization. Lane McNab (40:55) * I think it's a good reminder to know our risk tolerance and our failure tolerance and, and our strengths, how far can we go or the strength of those around us, the team that we've built. Michele (52:52)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Lane: * Website: lanemcnab.com * Shop Website: lanemcnab.com/shop * Instagram: @lanemcnabinteriors * Email: lane@lanemcnab.com
References and Resources: * AIM Masterclass - Watch now * StrengthsFinder 2.0 - by Tom Rath
145: Insider Secrets of a Serial Interior Design Entrepreneur with Morgan Motsinger Joining me on the podcast today is Morgan Mostinger of Lot35 Homes. Together, Morgan and her husband, Ryan, own 5 businesses. Morgan and I have coached together for a year, and in that time we discovered her superpower – starting businesses. In this episode, Morgan will share how she made peace with being a starter and how conquering fear allowed her to have more experiences in her personal and professional growth. I hope you enjoy the podcast.
Topics Mentioned: * Entrepreneurship * Fear * Strengths Finder * Implementor
Key Thoughts: * The thing that was surprising to me too was how much joy and confidence and sureness about my own abilities came with the building of the business. Morgan Motsinger (09:06) * People with a growth mindset don't think that you've hit a certain age and you've learned all you can learn. They look at it as if every day is a learning opportunity. Michele (11:37) * Just because it's scary right now, doesn't mean that it's not going to be scary in a little while or that it's going to be less scary in a little while. Morgan Motsinger (13:56) * Make your goals or dreams as big as you want them to because, in 50 years, they're still not going to be big enough. Michele (14:39)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
Contact Morgan: * Website: lot35homes.com * Website: OregonBeachBox * Instagram: @lot35homes * Instagram: @oregonbeachbox * Facebook: Lot35 Homes * Email: morganm@lot35homes.com
References and Resources: * AIM Masterclass - Watch now * EP 35: Play to Your Strengths - with Darren Virassammy * Growth Mindset - by Carol Dweck
144: How to Quickly Stress Test Your Interior Design Firm with Michele Williams I have seen it before. We go through a goal setting process and then move forward without continually checking to see if the goal is truly attainable and realistic. Maybe you have heard of SMART goals: specific, measurable, attainable, realistic and time bound. Today we are going to talk about stress testing our goals to check for attainable and realistic.
Topics Mentioned: * SMART goals * Stress test * Attainable * Realistic
Key Thoughts: * Create a SMART goal. Start with the goal you want to achieve. Write it down and make sure you have mentioned all 5 parts. Michele (02:20) * If we don’t ask the hard, tough questions early on, we will stumble later in putting the goal into practice. Michele (06:22) * When we are thinking about resources, one of the challenges is that we create a goal as if all the resources are already in place. Michele (06:47) * We must be focused on the commitment to do what it takes – and willing to actually do what it takes to get the outcome we desire. Michele (08:38)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams
References and Resources: * The Designers' Inner Circle - Become a Member Today
143: How to Grow an Influential Interior Design Business with Diane Diaz Joining me on the podcast today is Diane Diaz, the Lead Speaking Coach and Personal Brand Strategist with Speaking Your Brand. She works with women entrepreneurs to help them create their signature talk so they can speak with clarity, conviction, and confidence. Today we are going to talk about creating your voice, ways to use it in your marketing and personal sales cycle, as well as how to use it as a thought leader creating influence in your industry.
Topics Mentioned: * Brand Voice * Framework * Thought Leader * Influence
Key Thoughts: * Your voice is kind of a combination of things. It's your personality and sort of the way you come across, but also wrapped into that are your values, what you believe in, what you stand for. Diane Diaz (04:11) * I think a pitfall of not having a voice, not defining it, is not knowing who we are. Not having a direction for our company, our brand, our packages, our pricing or decisions. Michele (08:24) * Once you modify your messaging, and your voice actually does come through authentically, as who you are, it will push some of the people you don’t want to work with away. Those are not the people you were meant to work with. So, it's okay. Diane Diaz (12:36) * When we craft this voice, right, this brand voice, and this message for our firm, it should spark joy. Michele (14:29) * It is very simple to make money, you sell the right product and service to the right person at the right price, and then you manage the heck out of it. Michele (16:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting.com * LinkedIn: Michele Williams * Contact Diane: * Website: speakingyourbrand.com * LinkedIn: Diane Diaz * Instagram: @dianediazspeaker * Facebook: Behind the Design * Email: diane@speakingyourbrand.com
References and Resources: * AIM Masterclass - Watch now * speakingyourbrand.com/welcome/michele - Free workbook to develop your Thought Leadership
142: 3 Reasons to Take Your Design Business on Vacation with Michele Williams So, I did a thing. I took my business on vacation. We had such a wonderful time together. Just me and Scarlet Thread Consulting. I had been thinking of this and wanting to do this trip for a while, but the timing was not working. On this podcast, I am going to share the 3 benefits of taking your company on a vacation.
Topics Mentioned: * Rest * Reflection * Reset
Key Thoughts: * I wanted to have no schedule, no guilt about what I was or was not doing, no divided attention. Michele (02:59) * My biggest goal on my trip was to have some time to think, process and dream. While I took a list of things I wanted to accomplish, I gave myself permission to come home with none of it done if that was what was best for me while on my trip. Michele (05:07)
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I rededicated myself to the business I am building and the clients I am serving. Michele (06:36)
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Taking a dedicated time to reset helped me gain more clarity on how I wanted to create margin, or space in my calendar. Michele (08:39)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL * Website: ScarletThreadConsulting..com * LinkedIn: Michele Williams
References and Resources: * AIM Masterclass - Watch now
141: 5 Ways to Attract & Keep Good Interior Design Employees with Jessica Harling With me today is Jessica Harling of Behind the Design. Jessica loves to work with organizations to create training and operational systems to inspire their employees, streamline costs and develop a Rockstar culture. On the podcast today we are going to tackle the topic of client retention. What are the 5 big tips to creating an environment where our employees want to hang around and work for the success of all? Enjoy the podcast.
Topics Mentioned: * Training * Tools * Reviews * Rewards * Trust
Key Thoughts: * People leave bad managers, they don't leave bad companies, we can put up with a lot from a company, but you don't put up with as much from your manager. And so that one person who is in front of you can make a huge difference. Michele (06:46) * If we want to retain an employee, one of the first ways to retain them is to put them in the right position and onboard them. If we don't on board, you don't even have a chance to keep them past the 30 days. Michele (08:48) * You have to establish you know what you need, what you want, and how they're going to interact in your environment. Jessica (14:52) * Today, employees like to feel like they're making a difference in the company, and part of that is having interaction with their leadership on a regular basis so that they can feel like they're giving input. Jessica (31:50) * We can change what we have ownership over. It starts with us. Michele (49:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Jessica: * Website: GoBehindtheDesign.com * LinkedIn: Behind the Design * Instagram: @GoBehindtheDesign * Facebook: Behind the Design * Email: jessica@gobehindthedesign.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * The 5 Languages of Appreciation in the Workplace - by Gary Chapman * A Carrot a Day by Adrian Gostick and Chester Elton
140: How to Easily Manage the Money Goals In Your Design Firm with Michele Williams I am so excited to speak with you today regarding managing the money goals in your business. On our last podcast together, episode 138, we discussed the 5 main money goals that needed to be established in your firm. Now we are going to talk about how and when to manage to them. This time grab your pen, paper and a calendar and let’s get to it.
Topics Mentioned: * Profit and Loss * Calendaring * Measurements * SMART goals
Key Thoughts: * We must make the management of our goals as simple as possible if we want to stay on top of them. Michele (02:03) * This is what it means to manage. We must look at the area we are measuring. Michele (04:41) * Another principle of good management is creating a time to do it. Michele (06:23) * Every goal I set needs to be managed which means checking the outcome against the metric and timeline to achieve it. Michele (08:47) * Gross profit is a number that will show you what the company is really worth. Michele (11:11)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * How to Easily Set Reachable Money Goals in Your Design Firm - Ep 138 with Michele Williams * Pricing without Emotion® * Understanding Your Financials™ * Master Your Profit® Course
139: Top Reasons Your Design Firm Needs a Spanx Strategy with Crista Grasso With me today is Crista Grasso, creator of the Lean Out Method and the 90 Day Lean Out Planner. Crista helps growing businesses achieve more by doing less through a combination of strategic planning and lean business practices.
Today we are going to talk about what that looks like for the design industry. There are many actionable activities in this podcast, so get ready to lean out your business.
Topics Mentioned: * Specialization and Personalization * Innovation * Lean Process * Review
Key Thoughts: * You may select a different fabric, you may select a different piece of furniture or art. But you still go through a design process, you still go through a fact-finding process, you still go through an ordering process, and then a fabrication process and an install process. Michele (14:18) * Your process is what allows you to give a really consistent and really high-quality customer experience, make sure you don't miss anything that's important. Crista (15:26) * I have a process that I developed that I work with people on, it's called Chuck. It's called hold, change, keep. And it's really pretty simple. But it's something I tell people to do every single 30 days is every 30 days, you should be going in and just looking across your business, look at the activities that you're doing. Crista (22:07) * Sometimes we just get so clouded with who the person is, and we love the person that we're trying to cram our business around the person instead of saying what does the business need, and then hiring for that position. Michele (24:34) * If we're not always moving forward, you're moving behind, you're moving backwards. Michele (49:26)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Crista: * Website: leanoutmethod.com * Podcast: www.leanoutmethod.com/podcast * LinkedIn: Crista Grasso * Instagram: @cristagrasso * Facebook: Lean Out Circle * Email: crista@criscara.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Building a Profitable Team for the Win - Ep 16 with Jeanelle Dech * Top Reasons Every Designer Should Know Her Why - Ep 125 with Michele Williams * How to Easily Understand Your Interior Design Businesses’ Finances - Ep 136 with Jack Tomkins * The E-Myth Revisited - by Michael E. Gerber * Start with Why by Simon Sinek * Profit First and Fix This Next by Mike Michalowicz * Who's in Your Room: The Secret to Creating Your Best Life by Ivan Misner, Ph.D., Stewart Emery L.H.D., Rick Sapio
138: How to Easily Set Reachable Money Goals in Your Design Firm with Michele Williams Are you feeling overwhelmed with work? Many businesses are right now due to the massive desire our clients are having to control where and how they live since we are spending more time at home. On this podcast, we are going to discuss how to delegate work without dumping it. There is a difference, and you might be surprised to know many of us thought we were delegating work when really, we were just dumping it off on our teammates. Let’s break this down together.
Topics Mentioned: * Key Performance Indicators (KPIs) * Gross profit * Expenses * Net Profit
Key Thoughts: * You have heard it said before that you get what you inspect, not what you expect. Michele (01:15) * Having a number that you are reaching for allows you to break it down into daily, weekly, monthly, or quarterly goals. Michele (03:54) * You have heard it many times on this podcast and in my training, our aim, if product is a large portion of our sales strategy, is for COGS to be 40-60% of total income. Michele (06:16) * These are starting percentages, and they are attained by being very clear in your decision making about where money will be spent in your business. Michele (10:25) * Before we can even manage to these numbers, we need to know what they are, if they are attainable, and have clear decision making in our firms that allow us to know what to do and how to do it to get what we need. Management comes after that. Michele (14:17)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Pricing without Emotion® * Understanding Your Financials™ * Master Your Profit® Course
137: 5 Mistakes to Avoid when Scaling Your Interior Design Firm with Courtney DeRonde With me on the podcast today is Courtney DeRonde. Courtney is a CPA and Managing Partner of TDT CPAs and Advisors in Iowa. Courtney and her team provide boutique advisory services for small businesses that are in a growth mode. Today, she shares with us the 5 blindspots of a growing and scaling company. If we ignore these blindspots issues can certainly arise. Courtney offers actionable ways we can recognize the blindspots and do something about them in advance. Enjoy the podcast.
Topics Mentioned: * Scenario planning * Stress testing * Financial data * Blindspots
Key Thoughts: * One of the things that we found when we started to really focus more on being proactive, is that a foundation of being proactive is having accurate, timely financial information. Courtney (03:25) * I really love the idea of teaching and creating frameworks, because we can pick them up and move them around to solve other problems. Michele (21:02) * It is not just accurate and timely, that's foundational, but it also needs to be relevant. Courtney (31:45) * As a coach that focuses on financials, what I do is use those financials, to determine what decision making has been happening. Michele (33:55) * If we like the numbers, keep making the same decisions. If those are not the numbers that we want, or that we need, or that are going to carry us forward, we have to go back and determine which activities need to change. Michele (34:20) * Cash flow problems are just a symptom, they're not the underlying problem. Courtney (37:18)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Courtney: * Website: tdtpc.com * LinkedIn: Courtney DeRonde * LinkedIn: TDT CPAs and Advisors * Facebook: TDT CPAs and Advisors * Email: courtneydr@tdtpc.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * 5 Keys to Success that Exceptional Leaders do that Spur Growth and Profitability - Ep 27 with Eileen Hahn * How to Easily Understand Your Interior Design Businesses’ Finances - Ep 136 with Jack Tomkins * The E-Myth Revisited - by Michael E. Gerber * 5 Blind Spots as Companies Grow & Scale E-Book by Courtney DeRonde * Text “blindspot” to 33777 - to the free E-Book via text message
136: How to Easily Understand Your Interior Design Business Finances with Jack Tomkins Joining me on the podcast today is Jack Tompkins of Pineapple Consulting Firm. Jack began his career in the insurance world where he focused on analytics, financials, and building relationships. Now, he works with business owners to turn their flat data into beautiful visual representations to make analyzing and understanding the data so much easier. This was a really fun conversation to have and it seriously inspired me with the possibilities. Listen in for ideas on how to turn that flat data into something more.
Topics Mentioned: * Data analysis * Visual representation * Power of numbers * Dashboard
Key Thoughts: * The truth of the matter is, we needed to know the numbers when the pandemic hit, but we needed to know the numbers well before then. Michele (04:12) * The people, who knew their numbers, were able to quickly pivot their business and to make decisions, sound decisions. Michele (05:31) * My little tagline for it is combining the art of the gut instinct and the science of data. Both are totally necessary. Jack (08:57) * A pretty picture is great. But if you don't know what it's telling you, that's a whole other issue. Jack (23:48) * We can then actually look at and analyze the data, which is where your solution comes in to help us take that data, pull it off the page, and create it in a visual, beautiful, branded way. Michele (52:11)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Jack: * Website: pineapplecf.com * YouTube: Jack Tomkins YouTube * LinkedIn: Jack Tomkins * Email: jack@pineapplecf.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Referral Without Asking For A Full Pipeline - Ep 27 with Stacey Brown Randall * Hindsight Brings Clarity to Your Business - Ep 124 with Ceil DiGuglielmo * Correct Your Cash Flow - Worksheet
135: How Successful Interior Designers Delegate to Their Team WITH MICHELE WILLIAMS Are you feeling overwhelmed with work? Many businesses are right now due to the massive desire our clients are having to control where and how they live since we are spending more time at home. On this podcast we are going to discuss how to delegate work without dumping it. There is a difference, and you might be surprised to know many of us thought we were delegating work when really, we were just dumping it off on our teammates. Let’s break this down together.
Topics Mentioned: * Educate * Equip * Expectations * Empower * Encourage
Key Thoughts: * To educate means to give information that someone needs to do the job. We can accomplish this by having standard operating procedures. Michele (04:49) * When we equip our team members, we are now giving them the tools they need to accompany the education we have provided. Michele (05:21) * This is a good time to do active listening to ensure you both agree on what needs to be done and the boundaries and expectations around it. Michele (07:12) * Simply stated, get out of the way. Let your team member do the work. Michele (07:56) * When we actively, with intention, delegate something to someone – we need to be their cheerleader. Michele (09:15)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today
134: How to Hire the Best Assistant for Your Interior Design Business with Laura Licursi Laura Licursi is the founder and owner of Elite Virtual Assistants, a virtual staffing agency that helps busy professionals, like all of us listening, go from busy and overwhelmed to productive by helping them delegate work that is keeping them IN their business so that they can work ON their business.
In our time together today, Laura and I will hit some of the following topics surrounding hiring a VA. First, we will talk about what a VA is, how it is different to an OBM – I know, lots of acronyms, but I promise we will make sense of them. We will chat about hiring from an agency vs. straight freelance when to know if the timing is right, and what you need to have in place to do it well.
I have many VA’s and they help support me to run my business. Listen in to see when might be the right time for you to bring on help in this area.
Topics Mentioned: * Virtual Assistant * Online Business Manager * Agency vs. Freelance * Readiness
Key Thoughts: * The virtual assistant world has exploded and changed, all of these things have shifted and changed. Michele (05:05) * It's almost like we both have an advocate between us that adds value, and keeps me from having to manage some of the details of the VAs that I would have to manage in a freelance environment. Michele (10:00) * People ask me when is the right time, and I can tell you the wrong time is when you're in over your head. The best time is the very beginning. You cannot grow any bigger than the time that you have to dedicate. Laura (18:39) * The way I'm going to start delegating is to look around and say, if I never have to do that, again, would I be okay with that? If so, write it over here on the list and start delegating it to a VA. Michele (20:46) * It does take time on the client-side, to make sure that you dedicate time in the beginning, to onboard the VA properly, to make sure that they know what your expectations are, and that you have a communication plan in place. Laura (23:00) * If you are financially prepared to hire the VA, you are going to be so much further ahead of the game than if you're scrambling every month to try to come up with the money to pay somebody, that's just going to cause undue stress on all parties. Laura (37:44)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Laura: * Website: elitevirtualassist.com/ * VA HUB Website: elitevahub.com * Elite VA Match Website: elitevamatch.com * Facebook: Elite Virtual Assist * Twitter: @evassit * Instagram: @elite_assist * LinkedIn: Laura Licursi * Email: laura@elitevirtualassist.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Traction by Gino Wickman * E-Myth Revisited by Michael E. Gerber * Who Moved My Cheese by Spencer Johnson
133: How to Build the Best Team for Your Interior Design Business WITH MICHELE WILLIAMS How often do you consider the idea of a team in your business? Perhaps you are a solopreneur and think you work alone. Or maybe you have a huge group of employees and sub-contractors. Either way, and everywhere in between – we work as teams to get things done. On today’s podcast, we will look at the 5 areas to focus on for our teams to be strong.
Topics Mentioned: * Role * Expectations * Team Characteristics * Communication * Feedback Loop
Key Thoughts: * When we are looking at the idea of team, we are only as strong as our weakest link. Michele (02:28) * Don’t keep trying to fit the round peg into the square hole. It will only cause frustration and will lead to a loss in income and sleep. Michele (04:34) * Not only do the roles need to be defined for a team, but the expectations for the work to be produced needs to be clearly defined. Michele (06:13) * The hardest part of team is not knowing where we are at all times. Communication is the key to solving this issue. Michele (07:49)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * The Belief That Could Be Killing Your Design Business - EP 127 with Michele Williams
132: The Top Skill Set That Can Explode Your Interior Design Firm with Rose Zefferino Rose Zefferino is the owner of Z Domus Designs, a builder’s interior design firm, located in Pennsylvania. Rose began her career in homebuilding as a project manager right out of college then moved over the years into more of a design position focusing on selections and assisting other builders in creating a smooth-running process. This process serves both the clients buying and building the home as well as the builders responsible for the construction.
In this episode, Rose shares with us how her design and selection management process has been honed based on her beginning in construction. We discuss the differences in custom builds and community management, as well as hiring for these different but similar support positions.
This episode also helps continue the conversation that there are many facets to design and finding your area of expertise and doubling down on that can be profitable.
Topics Mentioned: * Construction Management * Selection Management * Systems and Processes
Key Thoughts: * I managed the building process from foundation through the windows being cleaned. It was everything in between. While I wasn't actually swinging a hammer, I managed all of the phases that were involved in building the house. Rose (03:22) * I think that is the one of the bigger pieces. Understanding the timing of building projects from construction all the way through design. Michele (18:48) * I want to create the Z Domus process, so that it is consistent across the board. While the products are different, and the offerings are different, the process is the same so that my designers are not having to reinvent themselves with every new builder that we have. Rose (32:21) * I want to talk about the differences between the designers that work on specialty builds because there is a difference. The way that we would approach trying to get 50 houses done in a timeframe versus three houses done in the same timeframe. Michele (46:04) * Whereas in the community side, many of the design decisions have already been made, there may be tweaks, but it's quicker, faster, you know, and more limited. Michele (55:18)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Rose: * Website: zdomusdesigns.com * Facebook: Z Domus Designs * Instagram: @zdomus * Email: rose@zdomusdesigns.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Hiring Exceptional People - Episode 50 with Eileen Hahn
131: How to Easily Create a Strategic Plan for Your Design Firm WITH MICHELE WILLIAMS Creating a strategic plan does not have to be difficult or overwhelming. If you followed along in my year end planning podcasts, you have a lot of the inputs to this strategy. If not no worries, you can do it now. Let’s build a strategic plan!
Topics Mentioned: * Vision * SWOTT * Milestones * Goals
Key Thoughts: * A strategic plan, simply put, is a document that tells where a company or organization is going. Consider it your road map for traveling into the future with your business. Michele (4:54) * Part of the beauty of creating a plan is having an idea of where you are going so you can plan in advance. Michele (10:24) * Every company has a limited supply of resources. These resources can be time, money, and people. Knowing how to spend each of these gives us an advantage. Michele (15:40)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Traction by Gino Wickman * 12-Week Year by Brian P. Moran and Michael Lennington * 6 Pre-Planning Tips for Your Design Year - EP 116 with Michele Williams * 4 Year-End Steps to Prepare Your Interior Design Business - EP 118 with Michele Williams * Year-End Planning for HR, Marketing and Finances for your Design Firm - EP 121 with Michele Williams * 5 Reasons Successful Interior Designers Use a Strategic Plan - EP 129 with Michele Williams
130: How to Build a Drapery Workroom from Day One with Julia Hash Julia Hash of JSH Designs in Raleigh, NC joins us today. Julia owns a full-service boutique drapery fabrication and design studio. She shares with us how her dream started in her attic, moved down to the main living space, then outside of her home. Listen in to the journey of entrepreneurship that Julia has taken, and continues to take to grow the business in a way that accentuates what she and her team do best.
Topics Mentioned: * Growth * Hiring * Expansion * Processes
Key Thoughts: * I had gathered what I could gather, and I felt like I needed more; I needed community, I needed to talk to somebody, I needed to work through some things. Michele (5:47) * I knew it was the right thing. I was just scared to do it. Julia (13:55) * It's finding somebody who has those skills, that have the work ethic, that wants to come in and get the job done. Julia (29:23) * Sometimes we underestimate how we solve problems for ourselves, and then others see it and want to use it too. Michele (40:42)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Julia: * Website: jshdesigns.com * Facebook: JSH Designs * Instagram: @jshdesignsraleigh * Email: julia@jshdesigns.com
References and Resources: * The Designers' Inner Circle - Become a Member Today
129: 5 Reasons Successful Interior Designers Use a Strategic Plan WITH MICHELE WILLIAMS When I started my first business, I was just doing the work that was in front of me. I had no real plan for where I wanted the business to go and no real plan for the financial success and long-term sustainability of my company. Each year setting goals felt like I was just choosing what felt right or what I was hearing from others at the time without any real basis at all. And you know what, the goals I set did not matter very much as the difficulty of the year progressed. Just like those fitness goals set in January with good intentions, they fell by the wayside. But there is a better way.
Topics Mentioned: * Strategy * Planning * Clarity * Communication
Key Thoughts: * A strategic plan, simply put, is a document that tells where a company or organization is going. Consider it your road map for traveling into the future with your business. Michele (4:54) * Part of the beauty of creating a plan is having an idea of where you are going so you can plan in advance. Michele (10:24) * Every company has a limited supply of resources. These resources can be time, money, and people. Knowing how to spend each of these gives us an advantage. Michele (15:40)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today
128: How to Grow Your Interior Design Business via Collaborations with Lori May Lori May of Lori May Interiors is with me today on the podcast. Lori started her business by blogging which led to rapid growth, an opportunity to be on HGTV, and now running a full-service design business with a team. Lori’s passion to make the ordinary – extraordinary comes through in our conversation. She focuses on building trust with her clients and vendors and enjoys the collaboration aspect of design the most. Listen in as she shares her story.
Topics Mentioned: * Profitability * Vulnerability * Trust * Collaboration
Key Thoughts: * I do remember you being very clear on having that clear separation of, this is my family and my family is private. Michele (09:44) * How do you separate so that the client’s work does not encroach on your girls and what they need? Michele (25:05) * We have a handful of builders who we work with repetitively because they subscribe to the same sort of ideals and working environment that we do. Lori (38:51) * Growth doesn't have to mean more dollars, more clients. Lori May (53:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Lori: * Website: lorimayinteriors.com * Facebook: Lori May Interiors * Instagram: @lorimayinteriors * Email: lori@lorimayinteriors.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Who's in Your Room: The Secret to Creating Your Best Life by Ivan Misner, Ph.D., Stewart Emery L.H.D., Rick Sapio * Pricing without Emotion® * Understanding Your Financials™ * Master Your Profit® Course
127: The Belief That Could Be Killing Your Design Business WITH MICHELE WILLIAMS Today on the podcast, we are going to talk about the saying, “You Are Enough”. Just to be clear, I think that is a lie stated like that. And it is a lie that keeps us down, trapped, feeling less than and encouraging the imposter syndrome to grow larger in our minds. Listen in as I tell you why I believe this to be a lie, and I balance it with some truth.
Topics Mentioned: * Need * Team * Accountability * Community
Key Thoughts: * I do a review of the people I work with. Michele (04:58) * Now let’s talk about finances. Michele (11:29) * Own the decisions and the choices that you make. Michele (17:49)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Create a Board of Directors that Supports You - Ep 58 with Jennifer Smith
126: Top Ways to Define Your Interior Design Brand Beyond Your Style with Katie Saunders With me today is Katie Saunders of Pop and Grey. Katie is a brand strategist and website designer who partners with interior designers to elevate their strategic brand design and messaging so that their brand presence reflects their style and story in every unique detail. Katie is a southern girl, so get ready for the double southern accents between the two of us.
We are going to discuss why our style is not our brand, how we start to define a brand, and why it matters. Enjoy the podcast.
Topics Mentioned: * Style * Brand * Niche * Logo
Listen to the Episode Key Thoughts: * As your business has grown over the last 9 or 10 years, what are one or two things that have been the most instrumental in helping you be more profitable? Michele (7:52) * It’s important to realize your brand can grow with you. Katie (19:40) * Digging into her ideal client you might discover the ones you love to work with are more philanthropic in nature. Michele ( 30:57) * One of the things that stop people from moving forward is fear, but the other one is ignorance. It's the belief that it's always been that way. Michele (42:39)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Katie: * Website: popandgrey.com * Facebook: Pop and Grey * Instagram: @popandgrey * Pinterest: Pop and Grey * Email: katie@popandgrey.com
References and Resources: * The Designers' Inner Circle - Become a Member Today
125: Top Reasons Every Interior Designer Should Know Her Why WITH MICHELE WILLIAMS Why is Why So Important?
Jack Canfield wrote the book, “The Success Principles” in 2005. I remember reading the book and just being blown away by the title of the first chapter, which was “Take 100% Responsibility for Your Life.” I will just let that one sit with us for a minute.
Topics Mentioned: * Why * Values * Alignment * Decision Making
Key Thoughts: * I do a review of the people I work with. Michele (04:58) * Now let’s talk about finances. Michele (11:29) * Own the decisions and the choices that you make. Michele (17:49)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * The Success Principles - by Jack Canfield * Who's in Your Room: The Secret to Creating Your Best Life by Ivan Misner, Ph.D., Stewart Emery L.H.D., Rick Sapio * Start with Why by Simon Sinek * Millionaire Success Habits by Dean Graziosi
124: Hindsight Brings Clarity to Your Business with Ceil DiGuglielmo For the third year, Ceil DiGuglielmo, of the Sew Much More podcast is joining me to review the year we have just had, what made it different, how we approached moving forward, and lessons learned. Make sure to go back and listen to the last two-year end recaps, they all have something to teach. I hope you enjoy!
Topics Mentioned: * Gift * Clarity * Pride * Focus
Key Thoughts: * I need you to have an 8, 10, 12-week plan. Michele (07:12)) * The gift of 2020. Michele (16:55) * I'm trying to help other people get through it Ceil (31:44) * It's been interesting to me to watch people in our industry make changes in their businesses Ceil (46:20) * Seek first to understand then to be understood. Michele (1:01:58)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Ceil: * Website: The Sew Much More Podcast * Website: The Curtains and Soft Furnishings Resource Library * Facebook: The Sew Much More Podcast * Facebook: The Curtains and Soft Furnishings Resource Library * Instagram: @ceildi * Instagram: @csf_resource_library * Email: ceilwdi@gmail.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * E-Myth Revisited - by Michael Gerber * The High Cost of Fear in a Creative Business - PIAC EP 001 with Ceil DiGuglielmo * Year in Review with a Look Forward - PIAC Ep 020 with Ceil Diguglielmo * Committed to the Pursuit - EP 072 with Ceil Diguglielmo
123: Merging Architecture and Interior Design in Business with Anastasia Harrison With me today is Anastasia Harrison, Principal Architect of AHD and Co. Through her extensive experience in complete home design, Anastasia has created a unique niche for her design firm incorporating architecture and interior design together. Her team strives to help clients live beautifully through outstanding design and to provide complete custom spaces that set a mood throughout the entire home.
In addition to running AHD & Co, Anastasia heads up the New Jersey chapter of Savvy Giving by Design, creating safe and cheerful environments for medically fragile children to heal.
Our conversation is going to focus on how she created a firm that mixes architecture and interior design as well as the steps she is taking to grow her firm with intention. Enjoy the podcast.
Topics Mentioned: * Architecture * Interior Design * Linear Process * Team Building
Key Thoughts: * We have to think about how we present ourselves. Anastasia (10:24) * You're taking pieces and putting them together into something that is new. Michele (21:15) * Start to think about time as a currency and money as a currency. Michele (30:02) * All the planning in the world sometimes doesn't give you what you need. Anastasia (42:03)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Anastasia: * Website: www.ahdandco.com * Facebook: AHD and Co Design Studio * Instagram: @ahdandco * Twitter: @AHDandCo * Pinterest: AHD & Co * Houzz: AHD & Co * Email: anastasia@ahdandco.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * E-Myth Revisited - by Michael Gerber
122: Scaling a Drapery Workroom with Tracie Bresnahan Joining me on the podcast today is Tracie Bresnahan of Custom Creations. Tracie owns a full service, turn-key, to-the-trade workroom supporting designers. Tracie is the President of the Window Coverings Association of America (WCAA) and she is sharing with us today some of her challenges in scaling a workroom. As you all know, these are the same challenges in many cases that we have no matter the business type. Listen in as we discuss changing locations, hiring, adding project management solutions, and the timing of it all.
Topics Mentioned: * Hiring * Location * Project Management * Timing
Key Thoughts: * It forced me to get to know people. People that I knew would help my business. Tracie (08:05) * Volunteering makes you determine what's really important, and only do that and do it better. Michele (10:51) * Nice to know what you are evaluating against. Michele (31:23) * Having the right butt in the right seat doing the right work. Michele (40:49) * Go through a research phase of what technology works. Michele (59:51) * Writing down and tweaking the things that you want to do better. Michele (01:15:08)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Tracie: * Website: mycustomcreations.com * Facebook: Custom Creations * Instagram: @custom_creationstb * Email: tracie@mycustomcreations.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * E-Myth Revisited - by Michael Gerber * HIVE - Project Management Resource
121: Year End Planning for HR, Marketing and Finances for your Design Firm WITH MICHELE WILLIAMS This is the third episode I am dedicating to going through a year-end review. I believe this process is instrumental in creating a business plan that we desire and doing it with intention. Today we will focus on some of the review process necessary in the areas of human resources, marketing, and financials.
Topics Mentioned: * Human Resources * Marketing * Financials
Key Thoughts: * I do a review of the people I work with. Michele (04:58) * Now let’s talk about finances. Michele (11:29) * Own the decisions and the choices that you make. Michele (17:49)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Backwards Financials for the Win - Episode 11 with Tracie Taylor * 6 Pre-Planning Tips for Your New Design Year - Episode 116 with Michele Williams * 4 Year-End Steps to Prepare Your Interior Design Business - Episode 118 with Michele Williams * Aim With Intent Methodology * Pricing without Emotion® * Understanding Your Financials™ * Master Your Profit® Course
120: How to Determine Which Project to Take for Your Design Firm WITH KRISSY PETERSON Joining me on the podcast today is Krissy Peterson of K. Peterson Design located in Seattle, Washington. Krissy offers full-service design to her clients and today we are going to tackle a business challenge she is having. My guess is that each of us has had a similar question at some point, and this one has a very detailed answer. Take notes, because there is a lot to untangle.
Topics Mentioned: * Profitability * Analysis * Time * Net Profit
Key Thoughts: * Never lose the excitement of somebody calling to say they want to work with your company. Michele (8:59) * Backwards financials help you walk through your financials. Michele (20:47) * Then we look at your expenses to get the gross profit. Michele (30:10) * It's been really helpful and valuable to break down all of those things to be able to actually see what those numbers are. Krissy (44:02) * It is helpful to think through some of these other things, be able to go back now and look at some of these other projects. Krissy (51:11)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Krissy: * Website: kpetersondesign.com * Facebook: K. Peterson Design * Instagram: @kpetersondesign
References and Resources: * The Designers' Inner Circle - Become a Member Today * Backwards Financials for the Win - Episode 11 with Tracie Taylor
119: Building a Leadership Focus for Your Design Firm WITH KRIS PLACHY On the podcast today is Kris Plachy of Kris Plachy Coaching. Kris’s focus is to guide leaders through the tricky path of learning to lead a team. We talk about her Five-Step Management System on the podcast as well as many other aspects of leading, coaching, and managing a team. This is such a great topic because many of you are growing your teams and focusing on this aspect of your business. Kris and I think alike on these topics so it was fun to dig in.
Topics Mentioned: * Leadership * Accountability * Assessments * Feedback
118: 4 Year-End Steps to Prepare Your Interior Design Business WITH MICHELE WILLIAMS This podcast is part of a series to assist you in planning for the new year in your business. We are going to jump in and talk about a SWOTT analysis, goal planning, how to preserve our energy, and how to say no.
Topics Mentioned: * Planning * SWOTT analysis * Goals * Energy
Key Thoughts: * The first thing that I would have you do, is start with a SWOTT analysis. Michele (01:35) * Choose one big goal each quarter, make it SMART. Michele (06:14) * Go back and think about what energizes you and what drains you. Michele (10:12)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Who's in Your Room: The Secret to Creating Your Best Life by Ivan Misner, Ph.D., Stewart Emery L.H.D., Rick Sapio * 12-Week Year - by Brian P. Moran and Michael Lennington * Setting Goals that Matter - Episode 20 with Jennifer Dawn * Committed to the Pursuit - Episode 72 with Ceil DiGuglielmo * 6 Pre-Planning Tips for Your New Design Year - Episode 116 with Michele Williams
117: Job Costing for Interior Design Firms WITH SHANNA QUINN Joining me today is Shanna Quinn of East Orlando Bookkeeping. Shanna is Profit First certified and she works with many contractors and sub-contractors, builders and designers. Today we are going to discuss job costing; what it is and why it could be instrumental in helping you determine the true profit in your company.
Topics Mentioned: * Cost code * Estimating * Analysis * Job cost
Key Thoughts: * Job costing is what we're going to focus on, that it is a good way for us to really understand what it costs to get the job done. Michele (10:38) * It's important to always try all of that specific stuff, right to the job. Shanna (17:13) * It is super important for the purchasers to have the business to have that level of information. Shanna (31:04) * Be very detailed, because that's the only way they really know what it costs them. and truly execute the plan as they put it out there. Michele (40:38)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Shanna: * Website: East Orlando Bookkeeping * Website: Bookkeeping 4 Contractors * Facebook: East Orlando Bookkeeping * Email: squinn@eobookkeeping.com
References and Resources: * The Designers' Inner Circle - Become a Member Today
116: 6 Pre-Planning Tips for Your New Design Year WITH MICHELE WILLIAMS Each year around this time, November, I begin the planning process for my business the next year. In the next few solo podcasts, I am going to share with you the steps I use to make sure that on January 1, I can move forward with confidence. Enjoy the podcast.
Topics Mentioned: * Planning * Review * Time * Dreaming
Key Thoughts: * Begin with a big chunk of time and do a deep dive. Michele (01:13) * Create space to really review the past year. Michele (04:37) * The more you try to please everybody you please nobody. Michele (14:10) * Identify what will create a balanced life. Michele (17:55)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Setting Goals that Matter - Episode 20 with Jennifer Dawn * Committed to the Pursuit - Episode 72 with Ceil DiGuglielmo * How to Stop Worrying About Your Interior Design Business - Episode 98 with Katie Baldwin
On the podcast today are Chandler and Jeremy Quarles of Peach and Pine Interiors. They were on the podcast back in episode 80 where we talked about them building a business together that integrated their family life and business life. Today we are going to look at a business challenge they are facing. And this is a challenge that many face – the messy middle. What do we mean by this? This is the place where you are not where you were – but also not where you ultimately want to be. The messy middle. And why do I call it that? Because this is the place that we are in the most, and that takes perseverance to get through. This is the dash between when your business starts and when it is done. This is where your business life is lived. Listen in as we look at this place, create a new perspective, and actually celebrate this climbing up the staircase to our business mastery.
114: Creating Barriers to Entry for Your Design Business WITH MICHELE WILLIAMS If you have ever read the book, Book Yourself Solid, by Michael Port, you may be familiar with his velvet rope policy. This policy is created to establish boundaries for working with your ideal client. You identify your client and give them access to cross the velvet rope to work with you. In this podcast, we are going to dig into creating barriers and then removing barriers for entry to working with your company.
Topics Mentioned: * Barriers * Ideal Client * Messaging * Profitability
Key Thoughts: * The seven habits are: be proactive, begin with the end in mind, put first things first, think win-win, seek first to understand then be understood, synergize, and sharpen the saw. Michele (2:03) * Here are some of those possible questions that move you forward that you may think about when you're building your business. Michele (10:11) * We now have a strategy to use to inform our decision making. Michele (18:51)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Book Yourself Solid by Michael Port
113: How a Financial Advisor Can Support Interior Designers WITH BRAD CLINARD With me on the podcast today is Brad Clinard of High Point Financial Design located in, you guessed it, High Point, NC. Brad’s firm supports interior designers in the journey to financial independence. We will talk more about what financial independence means, the building blocks to creating this, and how Brad’s firm differs from others. You will easily see the connection as well as the overlap between your business financials and family financials. Lot’s to consider with this topic. Enjoy!
Topics Mentioned: * Financial Independence * Intentionality * Communication Style * Trusted Relationship
Key Thoughts: * How would you define financial independence? Michele (08:09) * A roadblock for designers not being willing to work with a financial planner Brad (17:50) * What do you need in your home? What do you need to bring in for lifestyle congruent? Michele (28:38) * It's good to stay on top of those things and to have an advisor who reminds you Michele (36:12) * So in business, we ask what is your why? What are your values? Now let's look at the finances
Michele (50:40)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Brandi: * Website: HPFinancialDesign.com * Instagram: @brad.clinard * Email: Brad.Clinard@HPfinancialdesign.com
References and Resources: * The Designers' Inner Circle - Become a Member Today
112: 6 Ways to Remove Overwhelm in Your Design Business WITH MICHELE WILLIAMS Have you ever been in a place where you were getting all the jobs you wanted and dreamed of? All you have been working for. And the challenge is that it all came in at once – and now you are completely overwhelmed. Maybe you can feel your heart rate speeding up and a light sweat breaking out even as I say these words. Well, if so – this is the podcast for you. We are going to talk about how to manage and overcome the overwhelm in your business.
Topics Mentioned: * To-do List * Priority * Delegation * Boundaries
Key Thoughts: * The seven habits are: be proactive, begin with the end in mind, put first things first, think win-win, seek first to understand then be understood, synergize, and sharpen the saw. Michele (2:03) * Here are some of those possible questions that move you forward that you may think about when you're building your business. Michele (10:11) * We now have a strategy to use to inform our decision making. Michele (18:51)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today
111: Creating Social Media Ads for Your Interior Design Business WITH TRACI REUTER Joining me today is Traci Reuter of Divine Social. Her firm supports businesses in growing their brands through authentic, meaningful social advertising. We are going to discuss Facebook and Instagram ads. We will be looking at the difference between organic posts, boosted posts and paid advertising. Listen in if you think your company is ready or might be soon for digital paid advertising.
Topics Mentioned: * Digital advertising * Audience building * Engagement * Conversion
Key Thoughts: * What was happening that made you think, there needs to be a better money management system such as profit first? Michele (4:22) * What is the difference between a general post, a boosted post, and an ad? Michele (14:49) * You really need to have a long term mindset for this. Traci Reuter (30:12) * How do we know that we are poised and positioned and ready to take the next step? Michele (40:41) * The strategy’s got to be done well, and done with a lot of forethought. Michele (50:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Traci: * Website: divinesocial.com and divinesocial.com/profit * Facebook: TraciReuterSocial * LinkedIn: tracireuter * Instagram: @tracireuter * YouTube: Traci's YouTube Channel
References and Resources: * The Designers' Inner Circle - Become a Member Today * Profit First and Fix This Next by Mike Michalowicz * Seven Habits of Highly Effective People by Stephen R. Covey
110: Begin With The End in Mind for Your Design Business with Michele Williams In Steven Covey’s book, 7 Habits of Highly Effective People, the second habit is this; begin with the end in mind. We are going to talk about this habit and see how it applies to the business we are building not only at the strategic level but at the tactical level. Enjoy the podcast.
Topics Mentioned: * Habits * Strategy * Plan * Intention
Key Thoughts: * The seven habits are: be proactive, begin with the end in mind, put first things first, think win-win, seek first to understand then be understood, synergize, and sharpen the saw. Michele (2:03) * Here are some of those possible questions that move you forward that you may think about when you're building your business. Michele (10:11) * We now have a strategy to use to inform our decision making. Michele (18:51)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Seven Habits of Highly Effective People by Stephen R. Covey * How to Rethink Your Business for Maximum Success, Episode 90 with Michele Williams * Strengths Finder 2.0 by Gallup Press
109: Updating Your Digital Strategy for Interior Designers WITH BRANDI BERNOSKIE With me, today on the podcast is Brandi Bernoskie of Alchemy and Aim. Brandi is a digital strategist, web developer, and tech expert. Our conversation is focused on updating your digital strategy. Many of us have a plan to show up online, but how often do we refine it, and what prompts us to do so? These are the questions we will be digging into.
Topics Mentioned: * Relationship to money * Digital experience * Business evolution * Sunday Reflection
Key Thoughts: * We are living in such an online world now, we really have to think about the consistency of the whole experience we created digitally. Brandie Bernoskie (11:23) * You can revisit [your brand] because you and your business are evolving. Brandie Bernoskie (18:09) * Keep a note of where something may have felt off, or something that didn't work. Brandie Bernoskie (28:16) * Number one is learning to recognize when your business starts to get out of alignment. Michele (39:23) * As a business coach, I won’t be on the front cover of an Interior Design magazine. My job is to help my clients get that position, not for me to take that position. Michele (49:08)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Brandi: * Website: alchemyandaim.com * Instagram: @alchemyandaim * Instagram: @brandibernoskie
References and Resources: * The Designers' Inner Circle - Become a Member Today * Profit First and Fix This Next by Mike Michalowicz * Storybrand by Donald Miller * How to Rethink Your Business for Maximum Success, Episode 090 with Michele Williams
108: 50 Lessons Learned for Interior Designers WITH MICHELE WILLIAMS Today marks the beginning of year 3 of podcasting and the wrap up of year 2. This has been such a fun time, and it is difficult to believe that two years is behind us. Each year I love to stop and reflect on all that I have learned from hosting this podcast. Each person and topic have a teachable moment and almost always more than one. My continued hope is that each of you listening has had your life and business enriched in countless ways from this podcast. I ask you to review this podcast wherever you listen. I have not asked for reviews in more than a year – but it helps others find us. So, if you could take a minute to do that, I would be very thankful.
Topics Mentioned: * Scaling * Intentional decision making * Financials * Business Hierarchy of Needs
Key Thoughts: * Discussing client service strategies on Episode 57 with Ashley Uhl. Michele (3:46) * Sherry Wilson discusses Detailed Bookkeeping for Designers on Episode 67. Michele (8:29) * Learn about the Dynamics of an Entrepreneurial Family with Harrison and Brantley Williams on Episode 77. Michele (13:13) * Veronica Solomon discussed Consistency in Business on Episode 87. Michele (18:58) * Discover all about How to Build Supportive Relationships Within Your Design Business with Kara Cox on Episode 97. Michele (22:20) * In Episode 107, learn about how Alex and Michelle Gage encourage others to use Business Measurements for Your Interior Design Business. Michele (25:00)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today
Joining me on the podcast today are Michelle and Alex Gage of Michelle Gage Interiors and Business Measurements. We are focusing our attention on the need for business financial measurements that allow a business to know where it is and use the data to make decisions on where it is going.
If you have been listening to my podcast for any time, you know how much I focus on profitability – hence the name of the podcast, as well as, the importance of not only knowing your numbers but knowing what they are telling you. The story of your numbers if you will. What Michelle and Alex have created is a dashboard that will help you know your numbers at a glance whenever you want. And knowledge is empowering.
No matter where you are with your financials, listen in today. And don’t forget to go to my website and check out the Understanding Your Financials course and Master Your Profit course to really understand what all the numbers are telling you.
Topics Mentioned: * Financials * Reports * Data * Analysis
Key Thoughts: * The benefit of recording is to keep you accountable. Michelle Gage (09:00) * Everything got just really too much for me to manage in Excel by myself. Michelle Gage (17:15) * QuickBooks is accurate for what it was updated to, but we couldn’t combine information. Alex Gage (30:04) * I want to be in the position to make business decisions that make sense for me right now because I know where I stand financially. Michelle Gage (40:33) * Business Management gives you the information you need to know in a quick glance. Alex Gage (44:08)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Michelle and Alex: * Website: michellegage.co * Facebook: Measure Your Business * Instagram: @michellecgage
References and Resources: * The Designers' Inner Circle - Become a Member Today * Manage Your Projects with Ease, Episode 014 with Sarah Daniele * Understanding Your Financials and Master Your Profit * Financial Health Checkup
106: 5 Keys to Success that Exceptional Leaders do that Spur Growth and Profitability WITH EILEEN HAHN Joining me on the podcast today is Eileen Hahn. Eileen is a leadership consultant who partners with organizations to assist them in hiring and leading exceptional people. Today we will be exploring the 5 keys to success that exceptional leaders employ. Eileen joined us on episode 50 where we talked about hiring exceptional people. See the connection? Eileen is all about working in and with the exceptional. Grab a pen and paper and get ready for a great conversation.
Topics Mentioned: * Vision * Strategic Plan * Key Performance Indicators * Team
Key Thoughts: * Creating a big bold vision of who are you and where do you want to go, not just stay in business but stay in business and what? Eileen (07:13) * Once you have your big bold vision, step two is to have clear, measurable goals that increase every year in a manner to enable you to reach your vision. Eileen (15:51) * The KPIs are the factors that are critical to the success of your business. Eileen (21:12) * Your next point was strategic planning every year, talk to us about strategic planning. Michele (36:02) * Set aside one day to talk about what data and information we want to gather and talk about in our two-day strategic planning. Eileen (41:50)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Eileen: * Website: eileenhahn.com * Welcome Page: Divinesocial.com * LinkedIn: Eileen Hahn * Instagram: @eileen_hahn
References and Resources: * The Designers' Inner Circle - Become a Member Today * Hiring Exceptional People to be Profitable, Episode 50 with Eileen Hahn
105: 5 Barriers to Scaling Your Interior Design Business WITH MICHELE WILLIAMS Scaling is the topic of this podcast. We know that scaling simply means growing in some capacity. When we set out to scale our business there are usually barriers and we will dig into 5 of them in this episode. Listen in and see what might need to shift in your business to allow it to grow.
Topics Mentioned: * Growth * Mindset * Infrastructure * Delegation * Systems
Key Thoughts: * You need to build your business Infrastructure. Michele (1:52) * You need to begin delegating your tasks. Michele (5:56) * Invest in yourself in learning how to manage and lead. Michele (13:13) * Market to not just your potential customers but also your potential team members. Michele (18:58) * You need to know your numbers and financials. Michele (20:46)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * E-Myth Revisited by Michael E. Gerber * Tractionby Gino Wickman * Profit First by Mike Michalowicz
104: Why Building Credit for Your Interior Design Business is Necessary WITH KEITH KNAPP On the podcast today is Keith Knapp. Keith is a nationally recognized speaker and educator in business, marketing, and credit. We are going to focus our conversation on business credit. We will be defining what it is, why you need it, how to get it – and how to keep it. This is a very interesting and timely discussion. Hope you enjoy!
Topics Mentioned: * Business Credit * Funding * Credit Store * Business Entity
Key Thoughts: * How does a business get business credit? Michele (12:10) * There are 4 tiers of business credit. Michele (23:03) * Set up your business correctly, using specific entity structures that are best for your situation. Michele (28:50) * Who is looking through our credit? Keith (33:06) * How do you prepare for business credit. Keith (39:36) * How to qualify for business credit. Keith (45:13)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Keith: * Facebook: Keith Knapp * Website: Creditsuite.com
References and Resources: * The Designers' Inner Circle - Become a Member Today
103: 5 Attributes of Legacy in Your Interior Design Business WITH MICHELE WILLIAMS We all leave a legacy of some type. We may think of it as an inheritance or heritage. But have you ever considered the legacy of your business?
In this podcast episode, I am going to share with you five attributes of legacy in your design firm. Let's work to build intentional legacy in our business. Enjoy the podcast.
Topics Mentioned: * Community Continuance * Leadership * Heart-based * Planning
Key Thoughts: * Create community continuance. Michele (4:06) * Create an intentional leadership turn. Michele (6:48) * Create heart-based promoters. Michele (9:20) * Complete quarterly planning. Michele (11:44) * Embrace ongoing adaption. Michele (13:33)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Signs Your Interior Design Sales Process is Working, Episode 094 with Michele Williams * 5 Indicators Your Interior Design Firm Profit is on Target, Episode 096 with Michele Williams * 5 Hallmarks of Order in Your Interior Design Business, Episode 099 with Michele Williams * 5 Features of Impact in Your Interior Design Business, Episode 101 with Michele Williams * Measure What Matters, by John Doerr. * Tractionby Gino Wickman * The 12 Week Yearby Brian P. Moran and Michael Lennington
102: How to Build a Testimonial Strategy for your Design Business WITH MADELEINE POTEAT On the podcast today is Maddie Poteat, the founding partner, and lead marketing strategist at MP Consulting based in Nashville, Tennessee. Maddie and I are going to jump into a conversation about testimonials. We're going to talk a little bit about the difference between just asking for feedback from your client and really having those social proof testimonials. We're also going to look at how to create the questions, how to collect that information, where to put it online, and why we need to do it. We're going to discuss the benefits, and then even what not to do, or what's not really the best way to go about gathering testimonials. Testimonials, as many offer to us, are a free way to have a large marketing impact, so we don't want to overlook how to get, use, and manage them properly in our business. So I hope you'll walk away with a couple of ideas of the testimonials you need to get, how to add that into your process, and where you want it to show up.
Topics Mentioned: * Testimonials * Feedback * Negative Reviews * Analytics
Key Thoughts: * The benefit of asking for and receiving testimonials is that they help your business build trust and credibility. - Maddie (06:58) * When do we ask for reviews and testimonials? Build it into the sales process where it makes most sense. Maddie (14:47) * Make sure you have a process document on how you solve problems. Michele (25:43) * Ask for reviews on Google, FB, Yelp, Houzz, LinkedIn, Angie’s List, Bing, then decide how you want your ads to show up. Maddie (33:47) * Ask specific questions when requesting a testimonial or review. Michele (38:41) * To get past being braggy you need to be very professional about how you ask for your reviews. Maddie (44:37)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Maddie: * Website: mpconsultingfirm.com * LinkedIn: MP Consulting * Facebook: MP Consulting
References and Resources: * The Designers' Inner Circle - Become a Member Today
101: 5 Features of Impact in Your Interior Design Business with Michele Williams Impact refers to transformation – not just information. When we can move our business relationships and outcomes past the transaction stage, that is where the real change occurs. In this podcast episode we are going to review the five features of impact in an interior design business and see how after “getting” we can “give.” Enjoy the podcast.
Topics Mentioned: * Transformation * Feedback * Motivation * Network
Key Thoughts: * You have a transformation orientation. Michele (2:58) * You have mission motivation. Michele (8:52) * Profitability You have dream alignment. Michele (11:39) * You have feedback integrity. Michele (13:45) * You have a complimentary network. Michele (16:19)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Aim with Intent Methodology * Secret Service by John Dijulius * Fix This Next, by Mike Michalowicz * Start with Why by Simon Senek * 5 Signs Your Interior Design Sales Process is Working, Episode 94 with Michele Williams * 5 Indicators Your Interior Design Firm Profit is on Target, Episode 096 with Michele Williams * 5 Hallmarks of Order in Your Interior Design Business, Episode 099 with Michele Williams
100: How to Integrate Faith in your Design Business WITH ERIKA WARD AND VERONICA SOLOMON On the podcast today are Erika Ward from Erika Ward Interiors and Veronica Solomon of Casa Vilora Interiors. Both of these women have a very strong faith. They are living it out in their day to day transactions including how they respond to people. They are very transparent with what they believe, and how it drives their lives and their businesses.
I invited them on the podcast to talk about how they integrate faith and business. Whether this is what you believe, or what you don't believe, I want to invite you to listen with an open heart. Then maybe ask yourself, "What do you believe, and how does that fit into how you live your life and run your business?" Again, we can all respect each other, and we can believe different things, but it is interesting to listen and to understand. As I love to say, seek first to understand and then be understood. I hope you find today's podcast different and interesting, but also enlightening. I also hope that it gives you food for thought for your own business. Enjoy the podcast.
Topics Mentioned: * Faith * Love * Hope * Fear
Key Thoughts: * It was important to me to let people know on my website that this is my worldview. You don't have to have the same one, but you need to know mine if you're going to work with me. . - Michele (10:50) * Be careful of what you put in your heart and mind. When we're saturating ourselves with things that are of God, then that's what comes out. - Michele (17:08) * Late last year, I found a book that called Atomic Habits. The book really talked about what you do; your action is based on your identity, which is based on your belief system. - Michele (29:02) * Honestly, that is it for me. When I'm overwhelmed or I find that fear like you mentioned, we all are feeling some level of what's going on, I pour it in out in writing instead of bottling it up inside. - Veronica (37:38) * He's giving us the greatest gift of time. Erika (45:18) * I keep feeling that I'm getting a new gift of perspective. - Michele (45:39)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Erika and Veronica: * Website: Erika Ward - erikaward.com Veronica Solomon - veronicasolomon.com * Instagram: Erika Ward - @mrserikaward Veronica Solomon - @casavilora * Facebook: Erika Ward - MrsErikaWard Veronica Solomon - CasaViloraInteriors
References and Resources: * The Designers' Inner Circle - Become a Member Today * Atomic Habits by James Clear * Your Identity in Christ by Matthew Robert Payne * These Final Days - Ryan Speakman
099: 5 Hallmarks of Order in Your Interior Design Business WITH MICHELE WILLIAMS Order in a company allows for repeatability, efficiency, and expected outcomes. We create some order when we begin, but focusing on order, at the appropriate time, allows us to fine-tune the work being done and the product being delivered.
In this podcast episode, I am going to share with you five hallmarks of order in your design firm. Order becomes the focus after we have a solid sales and profitability plan in place.
Topics Mentioned: * Wasted Effort * Reputation * Team * Redundancy
Key Thoughts: * The first hallmark: Minimize wasted effort. Michele (3:26) * Second hallmark: Reputation. Michele (07:49) * Third hallmark: Team engagement. Michele (12:02) * Fourth hallmark: Role alignment. Michele (15:48) * Fifth hallmark: Linchpin redundancy. Michele (17:20)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * 5 Signs Your Interior Design Sales Process is Working, Episode 094 with Michele Williams * 5 Indicators Your Interior Design Firm Profit is on Target, Episode 096 with Michele Williams
098: How to Stop Worrying About Your Interior Design Business with Katie Baldwin On the podcast today is Katie Baldwin, the founder of Katie Baldwin Designs out of Lakeville, Connecticut. Katie is an awesome designer who has started shifting her business just a little bit to focus on some of the areas that she really loves, instead of doing what she thought she had to do. She's following her heart, her strengths, and skill set and finding that her joy has been increased. In addition, this focus has brought great opportunities for collaborations with other professionals.
I hope that you enjoy listening today. Maybe consider taking a step back and looking at your own life and your own business. Ask yourself where you're doing what you think you have to do, and maybe where you have an opportunity to do what you want to do.
Topics Mentioned: * FOMO * Strengths * Clarifying Questions * Project Management
Key Thoughts: * Apologizing about and around the business, especially when it’s different from the rest of the industry. Michele (10:47) * How the reaction around you contributed to your apologizing. Michele (18:19) * Setting up a system to move through different types of business disruption. Katie (23:28) * Looking at what education or experiences do you need. Michele (33:34) * Doing a financial analysis for you to reach your business goal. Michele (42:33) * Putting a system in business is an iterative process. Michele (51:35)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Katie: * Facebook: Katie Baldwin Designs * Instagram: @katiebaldwindesigns * Website: www.katiebaldwindesigns.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * How to Build Supportive Relationships Within Your Design Business, Episode 097 with Kara Cox * Bookkeeping for Success, Episode 053with Emily Moore
097: How to Build Supportive Relationships Within Your Design Business WITH KARA COX On the podcast today is Kara Cox, of Kara Cox Interiors. I’ve just got to tell you this was such a fun and a delightful conversation. It was recorded in mid-April while we are kind of figuring out how to work around the COVID disruption, and how things are going to start back up. What I love so much is Kara’s open and inviting personality. She just draws you in and has that beautiful southern speech.
Something that struck me in our conversation was the idea of how beautifully she was mentored and taken care of by another designer. This designer then also encouraged her to launch her own design firm. We don’t hear that very often, so listening to her share the story and sweet relationship was such an encouragement.
Kara goes on to talk about how she has worked really hard to figure out how she serves others; not only her staff and her clients, but her community. I think you will be encouraged. Hope you enjoy the podcast.
Topics Mentioned * Leadership * Coaching and Mentoring * Service * Change
Key Thoughts: * Kara’s mentor, Lindsay Henderson, taught her what servant leadership meant: those who literally served their clients, their community, and also served their employees. Kara(09:52) * The more we learn about ourselves, the more we learn about the people that we work with on a daily basis in our team, the better we can meet their needs and we can figure out how to motivate the individual. Kara (20:32) * Hiring a business coach, Tobi Fairley, transformed the way Kara does her business. Kara (25:08) * Running a transparent business with the one flat fee and explaining the benefit to the clients. Kara (31:36) * Adapting and continuing to a new normal by trying to offer some different services. Kara (48:04) * The minimum that you need to do to keep your family going to keep your business going. Michele (52:25)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Kara: * Facebook: Kara Cox Interiors * Instagram: @karacoxinteriors * Website: www.karacoxinteriors.com
References and Resources: * The Designers' Inner Circle - Become a Member Today * Think and Grow Rich by Napoleon Hill
096: 5 Indicators Your Interior Design Firm Profit is on Target WITH MICHELE WILLIAMS On the podcast today we're going to learn how profitability directly impacts the sustainability of a company. This is acutely understood at a time like this in our world and economy. The higher the profits and the better the management of those resources – the more sustainable the firm is. The lower the profits, the less management of those funds and the less sustainable the company is.
In this podcast episode, I am going to share with you five indicators that your design firm’s profit is on target. We will dig into why profitability matters and where to start managing it properly in your firm.
Topics Mentioned: * Profit Margins * Debt * Cash Flow * Cash Reserve
Key Thoughts:
- Know your profit margins.
- Know the current and future value of your ideal clients.
- Have a cash reserve.
- Have a plan to manage debt.
- Understand and employ a leveraging strategy.
- Profitability layer is instrumental as we build up and we build order and we build impact with the legacy. Michele (09:25)
- By clearly defining the goals of how you spend money, you're going to be in a much better position to assist the company to live within its means. Michele (12:51)
- Profitability and the company allows for money to be allocated to the health and the sustainability of the company as a whole. Michele (17:09)
- Leveraging in this situation simply means investing in something to gain a profit, which is greater than the investment. So if we're going to put money in we want to get more money out. Michele (21:24)
- As your business grows readdress your KPIs, look for new or different measurements to guide your current and future success. Michele (25:04)
Contact Michele: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * The Designers' Inner Circle - Become a Member Today * Financial Health Checkup * Financial Planning Made Simple * Aim with Intent Methodology * Understanding Your Financials and Master Your Profit * Fix This Next, Profit First, by Mike Michalowicz * E-Myth Revisited by Michael E. Gerber * All Roads Lead to Profit, Episode 004 with Mike Michalowicz * Backward Financials for the Win, Episode 011 with Tracie Taylor * How to Start Profit First with No Profit in Your Design Business, Episode 092 with Michele Williams
092: Managing a Design and Social Media Company WITH DARLA POWELL AND NATALIE GRAFE On the podcast, today are Darla Powell and Natalie Grafe of Darla Powell Interiors and Wingnut Social. Together Natalie and Darla manage multiple businesses (design, podcast, social media, fire-fighting, and a family business.) We are going to discuss how they started these businesses, how they don’t do it alone and have delegated with a team approach, and how they schedule time to pull away from the business. We are also going to talk a little about social media, some of the changes that have been happening and how to get started if you have more time than money. Hope you enjoy the podcast.
Topics Mentioned: * Managing resources * Social Media * Consistency * Personal time
Key Thoughts: * You know, the first business that I started I didn't start with a plan. I didn't start with any plan at all. - Michele (10:39) * I think that's one of the biggest things that I've learned being in business for myself, is that you cannot be rigid. - Michele (12:51) * I absolutely, totally see Tic Tock taking over Instagram and some of the other ones in the in a few years. - Darla (17:00) * You want to keep your brand voice consistent and you want to post consistently. You don't really want to go absent for a long time. - Darla (20:04) * Even if you're a brand new designer, go decorate a corner of your house, do a couple of pictures that are your own…but not every single picture should be of somebody else's pics on your feed. - Michele (24:34) * Natalie and I, right now, are working on our systems and processes and getting them to such a place where if we are gone for two weeks, we don't have to look at emails. - Darla (34:01) * It's not that we would assume that every single person that is an interior design would all of a sudden go start a podcast or start a coaching company or a social media company, but I will say that has been one of the beautiful things for me being in this industry for 20 years. - Michele (40:32) * Think about how much more money you will make as a rainmaker than sitting in front of your computer trying to figure out the latest change in whatever it is. - Darla (47:05)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Darla and Natalie * Website: http://wingnutsocial.com/ * Instagram: @wingnutsocial * Facebook: Wing Nut Social
References and Resources: * Clockwork by Mike Michalowicz * The Designers' Inner Circle - Become a Member Today
094: 5 Signs Your Interior Design Sales Process is Working WITH MICHELE WILLIAMS To really start a business, you need sales because sales are the lifeblood of a company. It doesn’t matter if you have an awesome idea or of your product and service is best in class if no one is buying. It is just that simple.
In this podcast episode, I am going to share with you five signs that your interior design sales process is working. We will look at the metrics you need to consider as you determine the health of your business.
Topics Mentioned: * Lifestyle * Prospecting * Conversion * Commitments
Key Thoughts: * To really start a business, you need sales, because sales are the lifeblood of a company. It doesn't matter if you have an awesome idea or a great product or service, even if it's best in class if no one's buying, and it's just that simple. Michele (0:00) * The business, while it is supposed to take care of the clients is ultimately to take care of the owner who's taking care of the risks. Michele (6:05) * Not paying the owner, or not paying the owner the equivalent of what the owner should make is a much smaller salary. And we call this entrepreneurial poverty. And that was what Profit First was written for, to get us out of entrepreneurial poverty. Michele (6:30) * Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * All Roads Lead to Profit, Episode 093 with Mike Michalowicz - Listen Today * EP. 093 Fix This Next in Your Interior Design Business with Mike Michalowicz - Listen Today
On the podcast today we're going to discuss on how to figure out what your business is currently struggling with. Recognizing and prioritizing it based on data analysis instead of emotion. This will help us gain clarity, highlight our most basic and foundational needs, then build a more accurate needs hierarchy. By following this path, we will be able to overcome any inaction from confusion and choose the best course of action.
Topics Mentioned: * Survival Trap * Business Hierarchy of Needs * Business Crisis * Block Control
Key Thoughts: * The biggest struggle that business owners have is knowing what their biggest challenge is because of the overwhelm. – Mike (2:56) * Identify what the business really needs and make a decision that is consistent with addressing that specific need - Mike (8:21) * Your business needs an adequate foundation to support the layers above it. - Mike (13:40) * It is very important to base our business decision on data instead of emotion. - Michele (22:46) * When you're feeling overwhelmed or paralyzed, start breaking down what you need to do to move forward. - Mike (36:30)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Mike * Website: www.mikemichalowicz.com * Instagram: @mikemichalowicz * Facebook: Mike Michalowicz Fan Page * Twitter: @MikeMichalowicz * LinkedIn: Mike Michalowicz
References and Resources: * The Designers' Inner Circle - Become a Member Today * Fix This Next, Pumpkin Plan, Surge, Clockwork, Toiletpaper Entrepreneur by Mike Michalowicz * How to Stop Worrying and Start Living by Dale Carnegie * Hierarchy Assessment * The Cash Positions
092: How to Start Profit First with No Profit with Michele Williams On the podcast today, we are going to tackle excuses that I hear sometimes. "I cannot do Profit First because I don't have enough profit. I'll get to that later when I am profitable." What if I told you that not doing PF before having profit could be the problem. Listen in today to learn how to save your profit before you have any.
Ok, Let's just get this out on the table early. I am a certified Profit First coach and have been since 2015. This method of managing your money works. I also have facilitated the Financial Peace education from Dave Ramsey. I serve creatives – like you – and my focus is to help you create and maintain profit in your company so that you can have a sustainable business. Let's talk about how to create a profit first strategy even if you don't yet have a penny of profit.
Topics Mentioned: •Working within constraints
•Profitability mindset and habits
•Building the business for the future
•Strategic debt
Define Profit To begin, let's define profit. Profit is the money that we set aside with intention, to make our businesses sustainable. This might be a slightly different definition from what you have learned in the past. Maybe you heard something along these lines: profit is what is left over after all the bills have been paid.
But this definition is inherently flawed. If we wait until all spending is done to recognize profit – then we are considering profit an afterthought to doing business. Yet, we all go into business with some idea of making a profit. If that is the case, why would we not plan for profit from the beginning and set it aside to protect it as the business is growing?
Have you ever heard of Parkinson's Law? This is the law that says work expands to fill the space available for completion. Money does the same. In simple terms, the more money we make the more we spend. In the discussion of time – let's say you have two weeks to get something done. In most cases, you will complete the work right before it is due. If you had two days, the same would hold true. If there are limits to our resources, we normally adapt and work within those constraints.
By not limiting our expenses and letting profit be a left-over – we are setting ourselves up for disappointment. Because expenses tend to expand if not seriously controlled to gobble up any and all profits we have. Shiny objects – anyone?
So, going forward, we will consider profit as a percentage of our Real Revenue (or gross profit) that we want to preserve for our company's sustainability.
Keep in mind, as we discuss profit in a PF model, we are not talking net profit on your Income Statement. We are looking at company profit as separate from any owner's benefit, including salary and owner's draws. This profit is company sustainability. We will distribute it at given times, but it is meant to support the company, not just the owner.
Have a Profit Mindset It is important to focus on profitability from the start. While our company's profit may not be as high as we want it to be when we begin, we do need to start with the mindset that it is important, will be made and saved.
I love what Dave Ramsey says, "We have to love saving more than spending."
Zig Ziglar put it like this, "If you do the things you need to do when you need to do them, then someday you can do the things you want to do when you want to do them."
Our mindset controls all that we do. I am not talking Pollyanna thinking, but seriously taking our thoughts captive and asking hard questions. Are these thoughts truthful? Am I setting myself up for success or failure, depending on my thoughts? Our actions stem from our belief systems – and they are not always in alignment with what we say we want.
Making a clear decision to make and save profit in a company is a huge first step. Then following through with action is what will ultimately create the success we are working for.
What do you believe about profits? What do you think you should do with profits? How much do you think is enough? All of your answers are guiding your decision making, even if you are not consciously aware of it.
Even before you earn your first dollar, you can decide what you believe about money.
Money is not good or bad. It is amoral. What we choose to do with money is where morality comes into play. I can tell you this. I cannot give away money I don't have. I cannot invest money I don't have. I cannot leave a legacy I don't have.
Decide early on to be profitable and to do what it takes in your business to make that happen. This may mean growing quickly or slowly. It may mean hiring or firing. It just means you have to be willing to take a long hard look and be intentional in your choices. Even when you are profitable at the level you desire; you are still working on your profitability mindset. Decisions come into play with efficiencies and competitors' advantages, which can reduce our profitability even if we change nothing. This work is never done. Start early and keep reviewing your mindsets around money and profits.
Create Profit Habits From the Beginning Habits are so much easier to create with small amounts of something than when you have a windfall. Want to start a new 401k habit? It is easier to put in 3 or 6% than 15%. But if you choose to start with 3-6%, you can gradually increase to 15% or more without the shock. Starting profit saving behaviors when you begin your business is the same thing. Set up a framework of decision making and activity that allows for your current and future success.
How do we do that? I have my clients that are either new in their business or just starting to begin by allocating 1% of their Gross Profit each allocation period to company profit. Just 1%. Small amounts add up quickly. When we can do 1%, we try to stretch to 2% and so on. Just getting into the habit of moving money into the profit bank account at 1% works that profit saving muscle in our business. The more we do it, the stronger we get. The more excited we get – and we begin looking for ways to build up more and more profit while exceeding the product and service offerings.
Even when we have debt to pay off, we use the profit account as a pass-through. This shows us clearly what could be profit if the payments were made to us instead of to debt reduction. And we are already in the habit of saving for profit when the debt goes away.
If we pay off debt without seeing it as spending our profit, then we can easily assume we never had that money and allow future expenses to eat it up. Going into a profit account then out to pay debt is clear, and a very direct correlation is made about what our money is being spent on.
Measure What Matters You have probably heard it said that you get what you inspect, not what you expect. Make a plan to measure what matters – and profit matters. Dave Ramsey says, "You will either learn to manage money, or the lack of it will always manage you."
There are two ways I love to manage money. The first is by creating a budget for my company. A created plan in advance of how my money will be spent to attain the goals I have set forth. Then I love each month to measure to that budget to see if I am on track to meet my goals.
John Maxwell said, "A budget is simply telling your money where to go instead of wondering where it went."
Here is a good indicator that you don't know where your money went. Look at your P and L and see the net profit at the bottom. Recognize that money is not in your bank account or on your balance sheet and wonder where it is. That is an indicator that something is not being measured accurately.
Again, starting with smaller amounts of money and being clear on what it is allocated for and how it will be spent will help you stay in line – and in alignment with your values and goals – as sales increase and more money comes in to be managed.
Decide About Debt Make a decision before you begin with regard to debt. Is this something you want to have in your company? How much is too much? What will you allow debt to be created for – and what is an immediate no? How will debt be managed?
It is easy, in our environment today, to take on more debt than we need to. We are offered loans and credit cards in the mail on a consistent basis, and these can easily be alluring if we have a dream but no current funds to make it a reality. Debt can work, but it has to be extremely strategic. Otherwise, it is a set of weights on our shoulders that keep us from moving forward. Debt can keep us from being able to react swiftly or nimbly. And remember this – it has to be paid back. It is not free money. Mike Michalowicz says this, "well-dressed poverty is still poverty." We must decide to consistently spend less than we make to stay out of debt.
Our company needs to be able to live within its means. Otherwise, debt will be our burden and will control our ability to grow with peace and ease going forward.
To be truthful, implementing a money management strategy like Profit First is more about what you believe, followed by action to show those beliefs. Any new system or strategy can be difficult. But when thought about in advance and decision making is done prior to being in the heat of the moment, your way forward will be most clear.
I have built a business and worked hours upon hours to make no money. It is a terrible feeling. I have also planned for profit from the start and been much less stressed. And I like this way better.
No matter where you are right now – with an idea for a business or 30+ years in, you can move forward. If you are making tons of profit and don't know what to do with it – call me. If you know that there can be a better way – call me. I am telling you – It is never too early or too late to do business better! Start now. Don't wait.
Decide today to manage your money, so the lack of it doesn't manage you. I am happy to assist. Because what seems simple is not always easy. Go to ScarletThreadConsulting.Com and sign up for a discovery call and let's see how we can move your business forward to be as profitable as possible. I will end this podcast like I have every other one before with a reminder that profit doesn't happen by accident.
Key Thoughts: * Create a business that is profitable and to plan for that from the very beginning, set some aside to protect it as the business is growing. - Michele (03:30) * We're not just building the businesses we have today. We're building the businesses we want to have tomorrow. - Michele (11:44) * Make a plan to measure what matters and profit matters. - Michele (14:49) * To stay out of debt, we have to love saving more than spending. - Michele (18:00)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * All Roads Lead to Profit, Episode 004 with Mike Michalowicz
- Profit First by Mike Michalowicz
- Financial Peace by Dave Ramsey
091: Building a Business with Intention with Glenna Stone On the podcast, today is Glenna Stone. Glenna is the owner of Glenna Stone Interior Design, located in the Philadelphia area. Her background is in engineering, and we're going to discover how her knowledge of supply chain and prior work in the consumer products industry has formed her business model for her design company.
Glenna and I are having this conversation during the time of COVID-19 and we address some of the nuances that this business disruption has brought into our ways of doing business. We also talk about what we think business will look like on the other side of shelter in place. Glenda is such a smart businesswoman. She loves the numbers side and that thrills my heart. She is just gracious and sharing. I'm sure you're going to be inspired by all she has to offer. Enjoy the podcast!
Topics Mentioned: * Supply-chain * Communication * Pivot * Opportunity
Key Thoughts: * Once I decided to start my own business, it was always to have a team - to have employees. But like so many designers I just started with myself and my house. - Glenna (07:45) * The industry is always growing and shifting and then our businesses are growing and shifting. - Glenna (13:12) * If we are so focused on saving other people at the expense of the company, we won't be there to save them later. - Michele (36:15) * One of the goals I had for 2020, even before the COVID pandemic was to…I did really think about developing a new revenue stream for our business with virtual design. - Glenna (40:05) * A great thing to do right now is to stay in communication with your clients. - Michele (44:04) * So we have to always now be in the state of planning. - Michele (50:38) * The opportunity, right now, is to find the technology that supports a new way of doing business that may allow you to streamline - Michele (55:35)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Glenna * Website: www.glennastone.com * Instagram: @glennastonedesign * Facebook: Glenna Stone Interior Design
References and Resources: * The Designers' Inner Circle - Become a Member Today
090: How to Rethink Your Business for Maximum Success WITH MICHELE WILLIAMS On the podcast today we're going to look at how to dissect our businesses so that we can analyze them and perhaps put them back together again in a different way. Really knowing the pieces and parts, as well as what we're great at, or our core competency, helps us to determine the best ways that we can show up and then serve our ideal client. We're going to focus on how to be nimble in an ever-changing world. How to grow and scale while keeping flexibility, which is not always easy. That will allow us to maneuver through any change.
Topics Mentioned: * Building blocks * New picture * WHY * Pivot
Key Thoughts: * Many of us have discovered things about our business that maybe we didn't recognize before; we have new insights now. - Michele (02:08) * We can't just always do business as usual. - Michele (10:30) * Your why, values. mission, vision…All of those are building blocks and we're putting them together in a multitude of ways. - Michele (13:01) * There is no reason that we should be building businesses that we're not 100% in love with. - Michele (19:52) * The goal here is to reclaim our time and maximize our money while providing the best product and service out there. - Michele (24:36)
Socials: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Profit First by Mike Michalowicz * The Designers' Inner Circle - Become a Member Today
089: Brand Clarity is The Starting Point WITH KIMBERLY SUNDT Kimberly Sundt is with us on the podcast today to discuss all things branding. Kimberly, in her business, focuses on the 4 C’s of Branding: clarity, communication, consistency, and conversation. We will discuss why being super clear on your branding will increase your confidence and actually make “selling” your services so much easier. We also discuss why client experience and perspective matter and the roles they play in your brand story.
Topics Mentioned: * Brand Clarity * Brand Communication * Brand Consistency * Brand Conversation
Key Thoughts: * It has been a journey and a complicated roadmap and a lot of paths and twists and turns. I'm thrilled where I am today. - Kimberly (01:40) * Profitability is not just talking about money. It's talking about the profitability of our brand. - Michele (11:58) * It used to be logo meant that was your brand, which we know is not the case, but that was kind of what people saw as synonymous. - Michele (13:22) * I know we're all going to look at our competitors. We're going to see what other people are doing. That's fine, but don't even think of them as competitors. - Kimberly (19:34) * The person who resonates with your message. They hear their problem being described and solved by your words. - Michele (30:34) * One of the things I've always said is I hated was self-promotion. And I changed my mindset. - Michele (32:32) * Now, you might be able to go from dot A to dot C and miss B once in a while…But you've got to keep those dots connected. - Kimberly (37:59) * Once we get through brand clarity, the other three C's become fun. - Kimberly (52:50)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Kimberly * Website: www.kimberlysundt.com * Instagram: @kimberlysundt * Facebook: Bring Your Brand to Life
References and Resources: * Book Yourself Solid by Michael Port * The 4Cs of a Strong and Intentional Brand - Read Today * The Designers' Inner Circle - Become a Member Today
088: Seasons of Life and Work WITH ALYCE LOPEZ Joining me on the podcast today is Alyce Lopez. Alyce owns and operates the True House, which is a full-service interior design firm that specializes in residential design for busy young families. Alyce began her career in interior design after purchasing a fixer-upper with her husband. She describes it as a 1950’s rambler and learned so much, documented it and her business just blew up. She also has young children who are at home. She's a mom and a wife and a business owner.
In our conversation, we're going to talk about family, seasons, success and what it looks like in different seasons. And then how to pour grace on ourselves because, you know, that's a lot to manage. Many of us are probably at home during COVID-19, at this point, listening and I can promise you are trying to manage. Many of us are now having to do a lot, along with being a business owner, and then a wife, a mom or husband. All of those things kind of combined into one is really a load to carry. Some of us have to carry it all the time and some only during times of business disruption. But regardless, all of this conversation I think will be super helpful in helping us prioritize, think about each season, align off priorities and make a plan forward. I hope you enjoyed the podcast.
Topics Mentioned: * Family * Seasons * Success * Grace
Key Thoughts: * I did have a plan. It was not a hobby, that's for sure. - Alyce (05:09) * Your growth could be in streamlining your processes and streamlining, the things that you do to be more efficient. - Michele (15:31) * I could have gone back into corporate at any point and chose not to. - Michele (18:02) * I feel blessed because we see eye to eye…my husband and I see eye to eye on a lot of stuff. - Alyce (19:08) * We have chosen to live debt-free. It makes us show up differently in the world than we would otherwise. - Michele (20:18) * There are seasons for everything. For me every year, right around January, February, March is my slowest time of year. - Alyce (22:18) * We're all going through different things in life and you don't know based on a professional photo on an Instagram feed, what's behind that story. - Alyce (27:00) * It's been a huge transition going from being a stay at home mom to working. - Alyce (36:25) * As a mother, I needed to get out and meet other designers and have time to be inspired. - Alyce (46:40)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Alyce * Website: https://www.thetruehouse.com * Instagram: https://www.instagram.com/thetruehouse * Facebook: https://www.facebook.com/thetruehouse
References and Resources: * EP. 053 with Emily Moore - Listen Today * EP. 064 with Joel and Michele Williams - Listen Today * EP. 077 with Brantley and Harrison Williams - Listen Today * EP. 080 with Jeremy and Chandler Quarles - Listen Today * The Designers' Inner Circle - Become a Member Today
087: Consistency in Business WITH VERONICA SOLOMON On the podcast, today is Veronica Solomon of Casa Vilora Interiors out of Katy, Texas. Veronica is a designer, design mentor, blogger, speaker, and micro-influencer. Veronica and I first met on Facebook in her designer group. Then we met in real life at High Point Market in the spring of 2019 where we shared together about building a business and looking for a new hire. Veronica is the real deal. She has a heart to help, and does it in a very straight forward and grace-filled way. In that, she speaks my language. In our conversation today, Veronica shares her journey to profitability – and it is not a straight line, by any means. It is inspirational and actionable. I hope you enjoy the conversation and take away a new idea or even just grace for your own business journey.
Topics Mentioned: * Failure * Growth * Consistency * Identity
Key Thoughts: * I never really thought I wanted to run a business. - Veronica (07:16) * I remember the first drapery panels I made were $25 because I didn't know how to charge for them. - Michele (09:20) * And the point of the matter is you can make a good living, no matter which part of the industry or the home owners, whatever demographics you serve. - Michele (15:14) * I've never looked at my business and thought I'm going to give this up. - Veronica (23:56) * You don't always know what the big picture is going to be. - Veronica (29:41) * Obviously, money has to come into play at some point. And we're not doing this because it's just, you know, this hobby of ours, and we just want to do it for free. - Veronica (34:13) * You know, that teachable spirit is huge. That's a really big deal. - Michele (37:35) * I think we are in such a time in history of instant gratification, that it can be very easy to let it feed into our mindsets that we tried it, it didn't work, go try something else. It doesn't work. - Michele (41:05) * I've learned a long time ago that you kind of have to take the good with the bad. - Veronica (50:48)
Contact Michele * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
Contact Veronica * Website: https://www.veronicasolomon.com * Instagram: https://www.instagram.com/casavilora/ * Facebook: https://www.facebook.com/casavilorainteriors
References and Resources: * 212 Extra Degree by Mac Anderson and Sam Parker * Atomic Habits by James Clear * The Designers' Inner Circle - Become a Member Today
086: Creating a Transition and Restart Plan WITH MICHELE WILLIAMS Today, I am going to share with you some of the training that I've been offering my private group. I really believe that this is information we should all have. It's also going to be information that you're going to be able to catch in video form in my blog post later this month, and there's a downloadable PDF that will come in the blog post.
In this process, that we're going to look at today, it’s about creating a transition plan and a restart plan. I am an advocate of doing all the planning in advance as much as we can. So that when it comes time to execute, we already know what to do. It’s kind of like where you're thinking about what's the worst-case scenario or even a best case scenario. And then when it's time to do it, you just do it. So, with that we are going to be looking at how to create a transition plan. What is a transition plan? Why do you need one? All of those good details and hopefully it's going to help you not only manage during this time but prepare for what's to come. Stay tuned and enjoy the podcast.
Topics Mentioned: * AIM with Intent * People, process, profit * Transition plan * Restart plan
Key Thoughts: * One of the things we have to think about as part of continuity is what happens during a time that a business is disrupted. And that disruption doesn't always have to be negative. - Michele (03:26) * I'm telling you to repackage and repurpose some of what you do so you can make money differently, market it differently, change the messaging. - Michele (12:33) * The more I plan in advance, the safer I feel. - Michele (15:51) * The goal here is to survive this and then it's to go back to thriving. - Michele (18:50) * The goal out of this is for you to just open your brain, and to allow yourself to think in a way that is creative and strategic on what can you do to help this business survive until we can pick back up with business as usual. - Michele (19:10)
Socials: * Email: Team@ScarletThreadConsulting.com * Facebook: Scarlet Thread Consulting * Instagram: @ScarletThreadATL
References and Resources: * Profit First by Mike Michalowicz * 30-Minute Strategy Call - Schedule Today * EP. 035 with Darren Virassamy - Listen Today * Master Your Profit - Enroll Today * Understanding Your FInancials - Enroll Today * Faith and Business - Become a Member Today * The Designers' Inner Circle - Become a Member Today * Build a Profitable Business for Interior Designers and Workrooms - Become a Member Today