We hope that you will join us today as we discuss the challenges and triumphs of small business ownership! As the year comes to a close, we reflect on our experiences, sharing insights on working in vs. working on the business. Michele discusses her shift from working IN the business rather than ON the business due to rising costs and the need to cut expenses. With a strategic approach, she streamlined operations, making tough decisions like letting go of certain expenses, including a beloved billboard. Embracing an abundance mindset rather than a scarcity mindset, she emphasizes the importance of adapting to business changes and staying vigilant.

Karamel shares her perspective on balancing hands-on involvement and strategic planning, acknowledging the need for energy management and considering an exit strategy. We explore the complexities of leadership, emphasizing the significance of effective communication, building a supportive network, and appreciating the efforts of the team!

Again, we hope that you will tune in to gain valuable insights into managing a successful business while nurturing meaningful relationships within the entrepreneurial journey! If you enjoy this episode, reach out to us with your thoughts because we would love to hear from you! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel if you want to both hear us and see us!

 

Time Stamps

[1:23] - Michele says that this has been a very hard year for business.

[1:58] - Why has Michele been working IN the business this year vs. ON the business?

[3:06] - Michele touches upon why she had to cut expenses.

[3:46] - Michele has to let her beloved billboard go next year.

[4:42] - This year has been a year of growth for Karamel.

[5:54] - What does the phrase “making cake” mean to Michele and Karamel?

[7:30] - Karamel argues that you can afford what you make room for.

[9:11] - You have to pay attention; you cannot put your head in the sand!

[9:35] - It’s important to have an abundance mindset, not a scarcity mindset.

[11:23] - It’s so important to not break your own rules.

[14:21] - Business owners might be removed, and not all employers will know you.

[16:43] - Karamel pays experts for help because she acknowledges not knowing everything.

[19:08] - It requires a lot of energy to engage with people on a substantial level.

[21:32] - It’s important for people in your business to feel valued and loved.

[23:57] - Michele gives an example of why she wants to work ON her business rather than IN it.

[26:43] - It can be very hard for some people to step away from making the cake.

 

Resources

CEO Chronicles – Website

My CEO Chronicles - YouTube Channel

Email CEO Chronicles: [email protected]

Email Michele: [email protected]

Email Karamel: [email protected]