How has the COVID-19 pandemic impacted small businesses? That's what we want to spend this episode discussing and trying to get to the bottom of. There are a lot of variables, such as how it affected employment, how it affected finances, how it affected people's mental health, and so on, and we talk about these various impacts and how the country (and even many parts of the world) experienced these effects collectively.

We talk about how the pandemic affected a lot of people's mental health and how it brought the issue of mental health to the light in ways that maybe it never had been before. A lot of pressure has been put on people, and not only does pressure impact everyone differently, but everyone has different ideas of what pressure even means. Pressure also tends to impact different generations differently, and we have several different generations in the workforce – baby boomers, Gen X, millennials, and Gen Z.

We also chat about supply and demand being impacted by the pandemic and how many creative people have had to find alternate ways to move forward with their businesses, what hope there is for things to get better and finally heal in the future, and so much more! 2020 was such a revelation for us and was easier for some than it was for others, but it impacted us all in one way or another. As always, we really enjoyed having this conversation and hope that you enjoy listening to it and that you find it helpful! We would love to hear from you, so please reach out to us via the contact info provided in the show notes! We really appreciate you tuning in to CEO Chronicles and hope to see you next time!

Time Stamps

[1:06] – Karamel wants to talk about how COVID-19 impacted small businesses.

[2:05] – Michele touches upon some of the decisions she had to make because of COVID.

[3:16] – Michele argues that COVID shut down a modern economy which was unprecedented.

[4:02] – Karamel refers to the CARES (Coronavirus Aid Relief and Economic Securities) Act.

[6:49] – Many people are currently dealing with trauma because of COVID.

[8:38] – 43% of businesses had to close temporarily, Karamel points out.

[11:23] – Karamel discusses demand being destroyed because of the pandemic.

[12:08] – Karamel references a Forbes survey that she is reading.

[15:16] – Michele lists the several generations that are currently in the workforce.

[17:08] – When will things get better?

[18:32] – Discover how COVID has impacted Michele's company and customer reviews.

[20:57] – Students globally are eight months behind.

[23:04] – Michele emphasizes that a million Americans died because of COVID!

[24:25] – Michele reflects on how big a year 2020 was and still is.

[25:40] – Karamel explains why COVID wasn't too devastating for WTA.

[28:34] – Michele points out that COVID brought some families closer together.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

Forbes – “Covid-Related Burnout Is Having A Big Impact On Small Business Owners: Survey”

Join us today as we talk about generating leads and thinking outside of the box! We spend a lot of time as business owners thinking about how to get customers and get customers to come to us, and we discuss in this episode of CEO Chronicles how to go about doing that in creative ways.

We both give examples of thinking outside of the box and even throwing the box away! Michele, for example, recently had a customer appreciation event which is a great out-of-the-box way to generate leads! We talk about how you have to push yourself and be creative to stay #1 or at least near the top, as top companies like McDonald's have done, and we also talk about the benefits of involving yourself in the community, something that can only benefit you!

At the end of the day, we just want to stress that you should not only think outside of the box when it comes to letting creative juices flow but that you should throw that box away entirely! You should also always move with your hands open so that you can receive and give! As always, we found this conversation with each other helpful and hope that you find it helpful as well! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes! We really appreciate you tuning in to CEO Chronicles and hope to see you next time!

Time Stamps

[0:28] – Michele just came back from Miami.

[1:47] – Michele discusses having to generate leads in her business.

[3:39] – Michele reflects on some of what she learned from being in radio.

[5:52] – Learn about Michele's recent customer appreciation event.

[9:00] – Karamel enthuses over Michele's idea.

[11:30] – Michele reaffirms the importance of thinking outside of the box.

[14:30] – Others sometimes have more confidence in you than you do in yourself.

[16:35] – Michele offers McDonald's as an example of a top producer.

[18:33] – Karamel reflects on her recent trip to Greece.

[20:17] – It never hurts, Michele argues, to be part of the local community.

[20:56] – How much money is spent on an average sale is different for every business.

[22:56] – Karamel has been reading The Whiteness of Wealth.

[25:18] – Michele reminds us of the main topic of the episode.

[27:20] – Karamel reveals that she is the more frugal of the two of them.

[28:56] – Karamel and Michele offer some closing advice.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

Dorothy A. Brown - The Whiteness of Wealth: How the Tax System Impoverishes Black Americans - and How We Can Fix It

We are talking about all things wages and healthcare today! What makes for a fair wage? One of the questions that we recommend being asked when it comes to what makes a fair wage is what kind of work the employee is doing. We also touch upon the differences between what an employee thinks about what they should be paid vs. what an employer thinks, emphasizing that the employee often does not fully comprehend the full process behind paying employees. Michele, for example, points out that half of her gross income last year was spent on payroll!

We also, in this episode, touch upon healthcare and why it's so important to have, sharing personal stories of how health insurance has positively impacted our lives. Michele consequently discusses how she does her part as a business owner by offering health insurance to her employees and trying to press upon them that their health is something they can't renew. Michele's agency is one of the very few that even offers healthcare because of how important she believes it to be.

We also touch upon the working poor and the truths as well as misconceptions surrounding their positions in life and how many of them do what it takes to pull themselves out of poverty and do better, giving Viola Davis (as discussed in her memoir) as an example. As is always true, we really hope that this conversation is helpful for our listeners! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes. We really appreciate you listening to CEO Chronicles and hope to see you next time!

Time Stamps

[0:28] – Michele opens with a story that leads into today's topic.

[3:01] – Michele discusses time off being planned far in advance.

[3:53] – Michele switches the conversation to wages.

[6:28] – Michele touches on the difference between an employee's and employer's mindsets.

[9:25] – Michele and Karamel talk about the mindset that something costs what it costs.

[11:55] – Michele reflects on the long-term benefits of having health insurance.

[13:10] – Karamel gives an example of what happens without health insurance.

[15:40] – Karamel emphasizes that Michele does her part as a business owner.

[18:25] – Michele returns to different perspectives between employees and employers.

[21:08] – Karamel mentions setting an industry standard.

[22:31] – Michele's agency is one of the very few that offers healthcare.

[24:12] – The working poor has so many obstacles against them.

[26:46] – Michele argues that the working poor do sometimes improve their lives.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

Viola Davis - Finding Me: A Memoir

We are chatting today about listening to our intuition and trusting it! We discuss why it's important to pair your gut feelings with analysis and how that can help you make better decisions, and we give examples of times when we heard great ideas and instantly knew that the ideas were good because that is what our guts told us. The gut gets stronger with experience, so even though some people might argue that trusting your gut is a mystical, unreliable thing, we argue that it isn't, that it's based at least in part on measurable data.

We also differentiate between impulse and the gut and how the gut doesn't involve emotion the way that acting on impulse or making a snap decision does. Following up on such cues can be difficult and can take practice, but it does have its benefits when it comes to making effective decisions. We ultimately have to differentiate between gut, vision, and fear, and we talk about why making that distinction is so important!

Intuition is not always perfect, but, again, pairing it with analytic thinking can result in really positive things! As is always the case, talking these things through with each other has been so helpful for us, and we really hope that it's also helpful for you! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes. We really appreciate you listening to CEO Chronicles and hope to see you next time!

Time Stamps

[0:32] – Michele opens up today's conversation on trusting your gut.

[2:09] – Michele argues that trusting your gut means knowing yourself.

[2:56] – We learn how Michele goes about making a decision using her intuition.

[5:10] – Michele emphasizes that gut feelings stem from experience.

[6:16] – Karamel touches upon being a visionary.

[8:11] – Karamel reveals that she hasn't always been comfortable with gut feeling.

[11:35] – Karamel shares that she has to be mindful about what decisions she puts on her plate.

[13:40] – Hear about how Karamel and Michele's husband think similarly about some things.

[15:25] – Karamel describes how to test your judgment.

[18:23] – Michele asserts that learning to listen to your gut can take practice.

[20:25] – Karamel discusses tapping into your core values.

[22:50] – No business person has everything completely together, Michele points out.

[24:38] – Michele instructs us that we have to differentiate between gut, vision, and fear.

[27:17] – Michele's agency is not the place to work for someone who doesn't get along with her.

[28:16] – Karamel stresses that intuition is not perfect.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

Dr. Spencer Johnson – Who Moved My Cheese?

We have been giving some thought to doing business with friends and/or work associates and how that might impact expectations. Michele argues that when you're dealing with people that you know, you need to go above and beyond with your service, but Karamel disagrees, asserting that everyone on a Women Travel Abroad trip will receive equal treatment no matter what.

We also discuss the problems that sometimes come about because of friends doing business with you just to do you a favor. Mixing business with friendship can get very complicated, but we point out some of the correct ways to go about doing business with friends, including being sure that motivations are understood, that expectations are set from the get-go, and that we're going beyond mere trust.

The bottom line ultimately is that boundaries need to be set with anyone with whom we do business and that such people should be made aware of said boundaries. As always, getting on this show and talking these things through with each other has been so helpful and therapeutic, and we really hope that it's helpful to our listeners as well! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes. We really appreciate you listening to CEO Chronicles and hope to see you next time!

Time Stamps

[0:34] – Michele has been thinking about doing business with friends.

[2:45] – Karamel gives different examples of ways that business is done.

[4:33] – Michele asserts that business with friends should be done the same as with anyone.

[5:59] – Karamel points out that all of her WTA clients are treated equally.

[7:57] – We hear some advice from Michele that she learned when she sold cars.

[10:29] – How do you value the friendship with the person with whom you're doing business?

[12:45] – Michele asserts that mixing business and friendship can get complicated.

[13:24] – What is the right way to do business with friends?

[14:51] – Trust is not reliable on its own, Karamel points out.

[17:52] – Michele and Karamel talk about setting boundaries.

[20:20] – Karamel argues that anyone we do business with needs to be aware of boundaries.

[23:20] – Michele gives an example of setting a tone immediately.

[26:35] – Michele sums up the purpose of CEO Chronicles and this episode's main idea.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

Karamel was just in Egypt on business, and we talk about a couple of cultural barriers that happened along the way. Talking about what's called international English, or simplified English, we discuss how it's a necessity when traveling the world as Karamel does with Women Travel Abroad! A simplified form of English free of regional slang and idioms helps best ensure that other English-speaking people in other countries can understand you.

However, we also talk about international business practices and how that is also somewhat of a language of its own that can be easily misunderstood. As Karamel stresses, any time you are looking to do business outside of the country, it's mandatory that you figure out how that country does its business, or else you run the risk of being offensive. Karamel recounts several examples of conduct being different on her recent trip and a few conflicts that arose as a result.

At the end of the day, what we want you to take away from this episode is to be sure that you learn the standard ways that a business is done in another place before you go there! We really hope that this conversation is helpful for you, and we would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes. We really appreciate you listening to CEO Chronicles and hope to see you next time!

Time Stamps

[0:31] – Michele and Karamel discuss international English.

[1:14] – Karmel gives examples of misunderstood phrases in Egypt.

[3:28] – Michele and Karamel talk about Karamel's card getting stuck in a machine in Egypt.

[6:26] – Karamel reveals whether or not she needed an interpreter in Egypt.

[8:46] – Michele prompts Karamel to touch upon how people approached time on her trip.

[11:49] – Karamel points out some derogatory comments that she heard on her trip.

[14:42] – We learn about accommodations that had to be made for Karamel on her trip.

[16:21] – Karamel explains why she changed plans for where they were going to eat.

[19:21] – Michele describes a business practice that she does not like.

[22:02] – We are advised to have patience in foreign countries.

[24:13] – The United States is the only country with the mindset that the customer's always right.

[27:12] – Michele summarizes that we have to know about a country's practices before going.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad - Website

We are talking all things networking today, something which Michele credits as being a big reason for her success. Michele talks about all of the different industries that she has worked with, including radio, banking, and so forth, discussing the various networks of people that she has built over the years. We both offer some examples of networking and it being intentional and purposeful networking, examples from our own businesses, and we discuss the various ways that you want to make sure that the needs of your target audience are being met.

Both of us agree that networking needs to be very intentional and purposeful, which is why neither of us has business cards. We instead network! We also talk about time and how precious it is and why it's important to be careful about to whom we give it away. Karamel also emphasizes that networking is not just about forging new relationships with new people but is also about nurturing the people that you already know (with our friendship being a great example!).

What we ultimately want you to take away from this episode is how crucial networking is. Most entrepreneurs can't make it on an island all by themselves, even if they need to pay people for their time. We, as we always do, love coming together to talk together about entrepreneurship, and we hope that our conversation is helpful! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes. We really appreciate you listening to CEO Chronicles and hope to see you next time!

Time Stamps

[0:30] – Karamel is on her way to Egypt!

[1:05] – Michele introduces the topic of networking.

[3:11] – Michele advises us that things aren't personal in the world of business.

[4:38] – Michele reflects on her days at a bank.

[5:08] – Karamel argues that everyone going into networking has an agenda.

[7:00] – You need to set times that work for your target audience.

[9:47] – Michele reveals her ultimate goal.

[12:16] – Karamel offers some personal insight into networking being intentional.

[13:29] – We learn about the importance of going to lunch with people.

[16:16] – Karamel defines a specific term.

[19:02] – Michele exemplifies how diversity, equity, and inclusion work.

[22:03] – Karamel points out that being purposeful and intentional is so important.

[24:22] – Karamel and Michele discuss how precious time is.

[25:44] – Karamel advises us that networking is also about nurturing people we already know.

[27:50] – Michele sums up this episode's advice.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

As of when we recorded this episode, Karamel is out of the country on a Women Travel Abroad trip in Jordan, and she is so excited to talk about marketing strategies using things like social media and email! We talk about target marketing and reaching your ideal client and the importance of identifying the difference between a social media manager and a social media marketer and why one tends to be a lot more valuable than the other.

We also list off and describe the four different types of strategic marketing and how to make use of them. Michele identifies reasons why she could use a social media marketer, and we discuss accentuating and highlighting the aspects of your business that are working. It's so important for a business owner to grow and not become stagnant, and social media marketing can definitely help prevent stagnation.

We, as always, love coming together to chat together like this, and we hope that our conversation is helpful for you! We would love to hear from you, so please be sure to reach out to us via the contact info provided in the show notes, and, as always, we appreciate you listening to the show and hope to see you next time!

Time Stamps

[0:30] – Karamel is out of the country right now.

[2:18] – Karamel is excited to talk about how she boosts her marketing.

[3:40] – We discover that Karamel is making social media updates three or four times a day.

[4:35] – Karamel emphasizes that you need to do what's necessary to reach your ideal client.

[6:37] – Michele admits that Upwork did not work for her.

[8:36] – Karamel argues that you need to share specific goals with your social media marketer.

[10:36] – Karamel lists the four different types of strategic marketing.

[12:36] – Learn why Michele needs someone to handle her social media.

[15:25] – Karamel says that someone we hire needs to know what they're doing.

[16:43] – Karamel talks about the cost of social media managing vs. social media marketing.

[19:14] – Karamel elaborates upon why she seems comfortable with social media marketing.

[21:52] – Michele compliments Karamel on her strategies.

[24:25] – Michele talks about the law of victory from The 21 Irrefutable Laws of Leadership.

[26:56] – Michele advises us to grow and not become stagnant.

[28:50] – We are reminded to identify our goals!

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad

John C. Maxwell - The 21 Irrefutable Laws of Leadership

Today's episode is kind of a hodgepodge of various topics! As an entrepreneur, what does giving mean? With giving being one of Michele's core beliefs, we talk about not just giving money but also giving time and service to the community and why that is important. Giving time might, for example, look like mentoring and paving the way for the next generation.

We talk about having a game plan for what the end of a business might look like, especially since serial entrepreneurs are often always coming up with new ideas. We also dive into taxes and how to take advantage of loopholes and whatnot, but we also offer the disclaimer that we are not tax experts! We are just offering up our own experiences! We, in addition, discuss prioritizing tasks and not being afraid to say no when we need to.

We love that we have been getting some positive feedback from listeners and love doing this! Please continue to reach out to us via the contact info provided in the show notes because we would love to hear from you, and, as always, we appreciate you listening to the show and hope to see you next time!

Time Stamps

[0:38] – Karamel reveals that she filed for a tax extension for the first time ever.

[2:03] – Michele talks about her belief in giving through her business.

[2:47] – Karamel offers her own stance on giving.

[4:00] – Karamel stresses the importance of mentoring.

[6:43] – Michele shifts the conversation toward having an end goal for your business.

[8:36] – Michele reveals that she has not yet come up with an exit plan.

[9:47] – We are advised that entrepreneurs are the only ones who know their own games.

[10:47] – Karamel circles back to the idea of money being a tool.

[13:30] – You can't claim a business loss on your tax return every single year, we learn.

[16:32] – Michele argues that we sometimes have to say no.

[18:56] – Karamel gives an example of how she has been busy.

[20:53] – Michele and Karamel talk about work-life balance.

[23:52] – Michele reminds us that everyone does business differently.

[26:13] – Karamel offers an example of current times being tough.

[27:28] – We are encouraged to contact Michele and Karamel.

Resources

CEO Chronicles – Website

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]

Women Travel Abroad

It's hard to talk about being a business owner without talking about money, and we are talking today about all things money and why we should know how to both earn it and use it! We talk about both the pitfalls and the advantages of taking loans out and give examples of resources that will lend money to small businesses and how running a business is financially similar to running a household.

We discuss in detail various ways to borrow money such as peer-to-peer lending, crowdfunding like Kickstarter, credit cards, home equity loans, and simply going to the bank. We also touch upon the differences between these various methods and their pros and cons. Don't forget to have a plan in place before pursuing one of these options because you don't want to be taken under!

We feel so much better about money after having this conversation and are so glad that we sat down to talk about this! We hope that this chat resonates with and is helpful to you, and, as always, we appreciate you listening to the show and encourage you to reach out to us via the email address provided in the show notes if you have anything that you would like to share with us! We would really love to hear from you! Until next time!

Time Stamps

[0:29] – Karamel reveals that she is currently in need of some money.

[3:08] – Karamel defines what she means by hard money.

[5:46] – Michele talks about the risk that a company takes when lending you money.

[7:22] – Michele refers to the book about entrepreneurship that she has been reading.

[10:03] – Michele and Karamel address anxiety around making a profit when borrowing money.

[11:15] – Michele compares running a business to running a household.

[13:58] – Michele touches upon a way to bring in more revenue.

[14:53] – Discover how Karamel is playing real-life Monopoly.

[16:13] – Michele defines peer-to-peer lending.

[19:03] – Karamel and Michele point to credit cards and home equity loans.

[20:18] – We learn how Karamel now thinks of money as a tool.

[23:04] – We are advised to have a plan to pay loans back so that we don't go under.

[26:06] – Michele recommends that we financially stay ahead by at least a couple of months.

[28:18] – We are left with some closing advice.

Resources

CEO Chronicles – Website

Email us: [email protected]

Women Travel Abroad