Calm is the New KPI™: Engineering Calmer Agencies & Consulting Firms

You've decided to make an investment in your business. You evaluated the alternatives, you accepted the costs and you decided this particular investment was the right one for your business.

You're about to commit a significant chunk of time, money, and resources to this. And, at least for now, you've decided this investment is worth investing in.

But later down the road, you'll need to decide whether this was a good, helpful investment that moved your business forward—or if it ultimately didn't accomplish what you thought it would.

To evaluate your investment later on, you need to answer: what does success LOOK like? What will tell you that this investment WAS a success? What are the measurements for success?

Is it new clients? New leads? More efficiency? More profit?

What are your GOALS for this investment and how will you know you've reached them?

Sometimes that metrics piece can be a little fuzzy. There's usually a lot of intangible benefits that come from investments as Michelle Mazur talked about in episode 46 with her rebrand. Investing in that professional rebrand and website paid off in credibility, speaking engagements, clients, and more. But sometimes that can be hard to get cold hard data on.

Social media is one of those investments you can choose to make in your business where the ROI isn’t always super clear. That’s why I invited Andréa Jones—host of the Savvy Social podcast, creator of the Savvy Social School, and an expert at social media—to talk all about measuring the ROI on your investments even if there isn’t a straight line from investment to payoff. 

Listen to the full episode to hear:

• How to measure and evaluate whether or not your social media strategy is "working"
• How coaches, consultants, and service-based business owners can use social media as a tool for business connection
• Why Andréa prefers tracking profile visits and link clicks over followers and engagement
• How to evaluate your social media data—and why any strategy needs at least 3 months to see what works and what doesn’t

Learn more about Andréa Jones:

• Andréa’s Social Media Success Framework 
• Social Media Management Business Building Blueprint
• Savvy Social Podcast
• Savvy Social School
• Connect with Andréa on Facebook
• Follow Andréa on Twitter
• Follow with Andréa on Instagram
• Connect with Andréa on LinkedIn

Learn more about Susan:

• Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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How do you decide what to invest in?

How do you examine the opportunity costs of that investment?

How do you make sure you're giving your investments every chance to succeed?

That's what we've been talking about in the Is It "Worth It"? Series. In the last part of this series, I spoke with Michelle Mazur about how to approach investments in your business and with Beryl Young about deciding WHAT to invest in.

In this episode, I want to talk about when an investment seems like a pretty straightforward payoff—but taking advantage of that opportunity might conflict with your values.

The question I’m asking, in addition to the others above, is: how do you balance the financial health of your business against your values?

Of course, those values SHOULD be an important consideration of any investment you’re making. But we all still need to make money in order for our businesses to survive.

In this episode, I’m talking with two guests, Nancy Jane Smith and Bonnie Gillespie, about their thought processes behind making some big business decisions.

Nancy is a Licensed Professional Counselor with thirteen years in private practice and has spent 20+ years working as a counselor and coach for people with high-functioning anxiety. She's written three books on living happier and is the host of the Live Happier podcast.

Bonnie is living her dreams by helping others figure out how to live theirs. As a weekly columnist, she began demystifying the casting process for actors in 1999. Her most popular book is Self-Management for Actors, the curriculum upon which her teaching is based. As a producer and Emmy-honored casting director, Bonnie specializes in indie darlings. Whether casting, coaching, or exploring the woo as The Astrologer's Daughter, she is passionate about leaving this world better than she found it.

Listen to the full episode to hear:

• What if the ROI could be great, but it conflicts with your values?
• Why Nancy decided to fully pull her business activities out of Facebook and Instagram—and why they were at odds with her personal values
• What Nancy’s noticed in her business since leaving social media and how she’s grown her email list without the help of Instagram 
• How Bonnie uses her Facebook account strictly for business (and how she’s set it up that way)
• The strategy behind Bonnie’s Facebook ads and why she prefers Instagram and Facebook to other social media or professional platforms

Learn more about Nancy Jane Smith:

• live-happier.com
• Coach In Your Pocket
• The Happier Approach Podcast
• The Happier Approach Book

Learn more about Bonnie Gillespie:

• bonniegillespie.com
• Follow Bonnie on Instagram
• Follow Bonnie on Twitter
• Subscribe to Bonnie on YouTube
• Follow Cricket Feet on Facebook
• More about Bonnie on IMDB

Learn more about Susan:

• Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

Other resources mentioned in this episode

• Stop Hate For Profit campaign

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When you're deciding what to invest in, examining the opportunity cost of your potential investments is a crucial part of the decision making process.

Every option includes a cost associated with it because any opportunity requires an investment of time, money, or resources—or all of the above!

And if we invest them in one initiative?

Then they're not available for other opportunities.

We all have a process we go through when we're thinking through new investments in our business. Whether you're conscious of your process or not... it's there.

In the last episode, you heard from Michelle Mazur about how she thinks about investments—that 3-6 month minimum investment. Today, we’re continuing the conversation about making investments in your business with Beryl Young.

Beryl is the founder & CEO of Momtography and Teentography, about how she decides what to invest in for her business. As a former elementary school teacher, Beryl's true calling is in education. Through a range of curriculum and programs for ANY type of skill level or camera, Momtography and Teentography is on a mission to show families how to unlock their creative potential and find a bit of joy in each and every day.

Listen to the full episode to hear:

• How Beryl decides what to invest in—or not—for her business
• The opportunity cost of the investments Beryl’s made over the years
• The 3 main buckets where Beryl invested her resources and the outcome of each

Learn more about Beryl Young:

• Mammography Club
• Follow Beryl on Facebook
• Follow Beryl on Instagram

Learn more about Susan:

• Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Deciding whether or not to make an investment in your business — whether it's hiring a consultant, enrolling in a course, getting a new piece of software — is always a bit of a gamble.

You're trying to manage your risk, manage your cash flow, predict the future, evaluate the opportunity cost, and a million other parts and pieces.

All to answer the question, "Will it be worth it"? Because when it comes to return on investment, that's the question we're really trying to answer.

Many entrepreneurs ask whether the investment will make enough money to cover the expenses. But that's just scratching the surface. The return on investment question goes much deeper than that and involves many factors.

For the next month, we'll be talking about return on investment, how to think about it, how to evaluate it when it's murky, and, ultimately, how to use that to make better decisions about investment in your business.

To kick us off, today I'm talking to Michelle Mazur, the founder of Communication Rebel. Michelle helps business owners shake things up (but having trouble talking about it) through their messaging. In this episode, Michelle shares some of the significant investments she's made in her business that had a long payoff, her approach for evaluating investments in her business, and her view on the intangible, long-term benefits of those investments.

Listen to the full episode to hear: 

• The framework for making investment decisions
• What categories of things to consider and evaluate against
• How to consider the intangible benefits that are often hard to measure
• When big investments don't always pay off

Learn more about Michelle Mazur:

• Communication Rebel 
• Michelle Mazur on Instagram
• The 3-Word Rebellion (book)
• What’s Your Rebel Roadmap For Exponential Impact + Influence (quiz)

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Hiring the RIGHT people in the RIGHT positions with the RIGHT mix of skills makes your business more efficient, more effective, and more profitable. And having just one wrong team member can tank the whole thing.

Getting this right is all about your strategic—and every day—decisions.

Your decisions on who you hire touches everything in your business. Decisions about what your process looks like affect your software choices. Decisions about your business model affect your marketing strategy. Decisions about your software affect your cash flow.

And this all ties back into how your business is an ecosystem. Each and every decision you make matters and can affect all the other areas of your business.

Your decisions around who you choose to fill those roles and how you onboard those new team members all impact how effectively and profitably your business can operate.

No stranger to making hard decisions and priming herself for growth is Emily Thompson. Emily is the co-founder and host of Being Boss, a podcast for creative entrepreneurs and coauthor of Being Boss: Take Control of Your Work and Live Life on Your Own Terms. Emily is also the founder of Almanac Supply Co, a retail concept that makes and curates products that help people connect with the seasons and live closely with nature.

Listen to the full episode to hear:

• How Emily uses key members of her team to run both Being Boss and Almanac Supply Co.
• What her hiring (and firing) process looks like—and how she preps herself for those hard conversations
• How she hired the right person in the perfect role for their skillset and it resulted in tripling their revenue

Learn more about Emily Thompson:

• beingboss.club
• almanacsupplyco.com
• @beingbossclub on Instagram
• @almanacsupplyco on Instagram

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Software is the lifeblood of any modern business.

Software keeps projects on track and helps clients pay you.

Software is how we communicate with each other.

Software allows you to operate leaner and smaller than ever before.

And every piece of software involved in your business has a role to play—an integral part of your business’ ecosystem. It has a job description and it's a core member of your team, just like any human. That’s why it’s even more important that you have the right tool, doing the right job, at the right price.

Choosing the right software tool, particularly when it comes to your choice of project or task management, can impact how well your team communicates, how well-informed your clients are, and how they feel about your service as a whole. Your financial software choices can also affect how quickly you can send an invoice, how quickly clients pay you, and ultimately, how healthy your cash flow is.

And that's what we're talking about today with Melanie Richards, owner of Modern Traction, a boutique web design agency. Mel is an award-winning web designer and brand strategist with over two decades of experience. Her turnkey approach is designed to save you time, ensures your brand and messaging is on point, and that your website is built to drive growth. Mel’s on a mission to create efficient marketing solutions that support busy entrepreneurs to gain faster traction and multiply their impact.

Listen to the full episode to hear:

• How the right choice of software has helped Mel scale her company, increase profits, and deliver better results for her clients
• How the right software tools make your team more effective and how ClickUp helps Mel’s team know what to do next
• All the tools that have been essential for Mel’s business
• Lower costs, less complication, more opportunities for automation 

Learn more about Melanie Richards:

• moderntraction.com

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Do you know the secret to scaling profitably and effectively?

In reality, it’s not much of a secret. It’s just something that not a lot of companies prioritize: building a solid process and making sure it's documented.

It’s unfortunate, really, because creating well-documented processes is the one thing that I consistently see that makes a huge difference in growing lean, resilient companies.

It's not necessarily sexy but documented processes affect every area of your business ecosystem and make a big impact.

A rock-solid process allows you to deliver better service to your clients, onboard team members with ease, deliver projects and services more profitably, free up time for you and your team, and use software to automate tasks.

My guest today is one of my favorite fellow process geeks. Meet Tamara Kemper, the founder of The Process Mavens where she helps CEOs get back time and peace of mind through systematizing and documenting their business. As a former classroom teacher, she puts humans first when it comes to improving business processes and patiently guides her clients through a clear plan to make things work better.

Listen to the full episode to hear:

• How having solid processes make your business more profitable and effective
• Why your processes inform your software and team choices
• Why it’s so important to document your process
• And the giant return you get out of investing in your process

Learn more about Tamara Kemper:

• The Process Mavens
• Connect with Tamara on LinkedIn

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Every decision you make in your business impacts every other area of your business.

Yet, we often tend to think of the different areas of our businesses—marketing, finance, operations, team—as if they’re disconnected from each other.

In actuality, business doesn’t work that way.

Your business is an ecosystem.

Every part of your business is interconnected with other areas of your business. The decisions you make about the kind of business model you have affects how you market your business.

Today, I’m excited to have Ashley Gartland back on the show to talk about how these decisions impact the size and roles of the team you need to have (if you have a team at all!) and the software you need to use. That, in turn, results in how profitable your company ultimately is.

So, in other words... the kind of decisions you make matter. 

Ashley’s a business coach who helps busy small business owners and online entrepreneurs simplify and streamline their business so they can grow to the next level and experience more freedom and flexibility in their life. In case you missed it, tune into Episode 12 where Ashley discussed how she’s using Voxer with her coaching clients.

Listen to the full episode to hear:

• How your default decisions impact your business model
• How these decisions can determine your approach to marketing and what software to use
• How to view your finances as a symptom and not a cause
• And why your finances are a trailing indicator

Learn more about Ashley Gartland:

• Ashleygartland.com
• 5 Steps To Simplify Your Business Workbook (Free!)
• Ashley Gartland on Facebook
• The Simplified Entrepreneur Facebook Group
• Ashley Gartland on Instagram
• Ashley Gartland on LinkedIn

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Right now, building a community around your business is more popular than ever.

You might even be considering adding one to your business—perhaps to save you time, to add another income stream, or to make you more accessible to your clients—or all of the above.

No matter why you might consider adding community to your business model, you might wonder—a business owner who does the same thing is already doing this. So how can I do it, too? Should I do it at all?

Seeing someone beat you to the punch might feel deflating but I’m here to tell you that there are infinite ways to shift your business model and make it all your own.

No two businesses are ever the same. Even if two business owners offer the same thing, they’re doing it in their own, unique way. That’s why if you hear an idea for a new revenue stream or a new way of operating—or if you implement the same thing—it’ll always look different in your business compared to another business. It’s your special sauce.

In the last few episodes, we’ve been talking about using new revenue streams to create strength and resiliency and minimize risk in your business. Specifically, we've been doing a deep dive on membership and community models.

I talked to Sophie Bujold in Episode 39 about where a community should live in your business (and whether or not you should have one in the first place). And in Episode 40, I talked to Margy Thomas about how her community was an evolution of the work she'd already been doing with clients.

My guest today is Katie Hunt, founder of Proof to Product, where she helps product-based businesses create product lines, sell wholesale, and build stronger businesses. She has a podcast, courses, masterminds, coaching, conferences, and yes, a community. Katie’s helped thousands of brands get their products on the shelves of retail stores like Target, Anthropologie, Nordstrom, and independent boutiques around the world.

Listen to the full episode to hear:

• An alternative look at what launching a community/membership model with a team looks like
• How having a membership improved resilience in Katie's business—financially AND with the rest of her product suite
• What evaluation process Katie went through before adding community as part of her business model
• How Katie’s boundaries have been impacted through the launch of her program and the pandemic—and how she’s proactively reinstating those boundaries now

Learn more about Katie Hunt:

• prooftoproduct.com
• Proof to Product Labs Group Coaching
• Proof to Product on Facebook
• Proof to Product on Instagram
• Proof to Product Podcast

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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Thinking about shifting your business model is one thing…

Actually doing it?

Well, that’s a whole other thing.

You might wonder: do I burn the old one to the ground? Do I make a gradual shift? Or do I just tack on one more service to my offerings?

Maybe you do start from scratch… or maybe you take a more nuanced approach to shifting your business model from one to another… or maybe you add more value to your existing model.

Whatever your path, it’s crucial to examine the risks in your business, re-examine your business model, and then make changes to how you do business.

This month, we’re shifting from the abstract and into reality with stories from entrepreneurs like you of what it really looks like to evolve your business from one model to another.

My guest today is Margy Thomas, Ph.D., who recently made the move from 1:1 services to a membership model. Margy’s community, ScholarShape, is a place for creative, visionary scholars to gather and support each other in creating Story-Arguments, a framework that she developed.

For Margy, creating the ScholarShape community was the natural evolution of that framework.  She looked at her business and realized that 1:1 services was no longer the best delivery option for her clients and it wasn’t the business she wanted to be running.

Listen to the full episode to hear:

• What was going on in Margy’s business that drove her decision to create ScholarShape and shift her business model
• How Margy executed the transition and what her business looks like now
• Instead of a fast pivot, community can be a natural evolution of your existing work
• What the decision process LOOKS like for someone thinking about making shifts in their business model

Learn more about Margy Thomas:

• ScholarShape.com
• ScholarShape Community
• ScholarShape on Instagram

Learn more about Susan:

•  Scalespark Dollars + Decisions Roundtable
• Twitter @ScaleSpark
• LinkedIn @thesusanboles

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