Profit Is A Choice

Joining me on the podcast today are my sons, Harrison and Brantley. They are in their 20's and have of grown up with me starting businesses out of the house for over 20 years. Many of you, after listening to the podcast with my husband Joel, asked if you could hear from my sons talk a little bit about how me being an entrepreneur or having an entrepreneurial parent had impacted them as kids. What they've seen and the lessons they've learned or taken is where we dive in. Hopefully, you'll have just a bit more of an insight into our, I would say, family entrepreneurial journey, and then maybe use some of these questions and go back and ask your own kids. I think you might be surprised at the answers. So glad you're with us today. Listen in.

• Family
• Growth
• Structure
• Entrepreneurship

• I mean, I didn't really think of you having a job and working until you started this business. - Harrison (3:45)

• And that meant my work took a hit, I had been director of the women's ministry at our church and I stopped that I stopped all of my extracurricular everything so that I could do it. - Michele (20:10)

• There were nights I was sitting in the middle of the night in our closet, working. Michele - (21:56)

• When we’re at dinner, you're still thinking about work. Sometimes after dinner, you'll come in here and do more work. - Brantley (24:57)

• So it is nice to be able to stay in the same industry but to do different things within that industry. - Michele (29:07)

• Yes, being impulsive is the best and mom hates that for some reason. - Brantley (36:23)

• You have to find what fits you. - Michele (49:18)

• And the biggest challenge of being an entrepreneur and being a mom was balance and being present. - Michele (58:43)

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

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With me today are Virginia Toledo and Jessica Geller of Toledo Geller. They have a boutique firm that excels at delivering turn-key, custom residences for singles, couples, and families who value exceptional design. Virginia and Jessica’s approach begins with a deep dive into how each client dreams of living and they get to know their clients intimately.

Virginia, Jessica and I have been working together for most of 2019 to build and enhance their financial structure and systems to support their growth in the design business. On the podcast today they will share a bit of that journey to own their numbers and financials.

• Structure
• Growth
• Capability
• Confidence

• There are so many statistics about failed business partnerships that are made up of families or friends. - Virginia/Jessica (10:48)

• We don’t always align, but we always respect each other. - Virginia/Jessica (14:13)

• Sometimes you do not want to over process and over structure. - Michele (18:27)

• We finally learned that an Accountant just “accounts”. - Virginia/Jessica (28:46)

• There is more at risk the bigger our companies get…More risk to get it right. - Michele (31:05)

• We knew we had a business, but it was also a little bit of a passion project when you really didn’t associate the financial aspect. - Virginia/Jessica (36:17)

• You were doing a lot right. There were some missing pieces to support you. - Michele (44:31)

• If we focus so much on the fear, it keeps up stuck. - Michele (49:27)

• We have the ability to leave a legacy. - Virginia/Jessica (50:55)

Contact Toledo Geller

• Website: http://toledogeller.com
• Facebook: Toledo Geller Luxurious Interiors
• Instagram: @toledogeller

Contact Michele

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

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Cynthia Bleskachek is with us today to share a business challenge. She has been doing upholstery professionally since 2001 and is the owner of The Funky Little Chair which focuses on hands-on education for aspiring professionals.  

Cynthia’s challenge is around the organization of all the thoughts, ideas and actions necessary to bring her vision and long-term strategy to serve the upholstery trade to fruition. Listen in as we dissect the challenge and create some ways to remove the overwhelm and get things done.

• Time
• Resources
• Overwhelm
• Team 

• I have so many random things made that aren't really meaningfully organized or available or searchable. - Cynthia (16:32)

• You’re making the pieces and parts we need to tie it together with a bow. - Michele (16:38)

• In a perfect world, I would like to see some low residency training events happen through the Funky Little Chair, in the next year. - (Cynthia 22:31)

• There's got to be this balancing act. - Michele (31:21)

• It feels unfamiliar and messy to me. - Cynthia (33:09)

• We cannot build these huge firms by ourselves. - Michele (33:59)

• The only way to create massive movement towards a huge goal, is to get help. - Michele (34:03)

• Not everybody wants to own their own company. - Michele (37:38)

• Write down the standards of how you would like to build, because then you can also go back and look at any pieces and parts that you've already created. - Michele (45:17)

• It takes so long to create trust. - Cynthia (53:36)

• Look at the difference between…what are my people needs? What are my process needs? Maybe what are my online needs? - Michele (58:48)

• We don't really need to worry, at this exact moment, how to get your clients in the door…If we don't even know what we're getting them in the door for. - Michele (1:00:12)

Contact Cynthia

• Website: www.thefunkylittlechair.com
• YouTube: www.youtube.com/thefunkylittlechair
• Facebook: The Funky Little Chair
• Instagram: @thefunkylittlechair

Contact Michele

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

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Joining us today is Shari Walla, owner of Accent Custom Drapery in Sterling Heights, Michigan. Shari is a to the trade workroom and is sharing a business challenge with us today. As you listen, you will hear that the challenge may be presenting as one thing – but that there is a different fear and challenge behind it. Maybe this has happened to you.

We are going to dig into the ideas of fear of rejection, fear of being abused in a business relationship and fear of trusting ourselves. Learn how to restore your confidence in yourself to be able to move forward with actions that support you and your goals.

• Fear
• Rejection
• Ideal client
• Confidence 

• It's very easy for me to see a window treatment that looks complicated (and is complicated sometimes) and it's very easy for in my mind to unfold it and create a pattern. - Shari (03:37)
• I would like to get some new designers to work for us. - Shari (09:55)
• You're trying to figure out whether or not this person is going to be your life partner. - Shari (14:55)
• This isn't just a dating process where we're just going out to meet people and hang out for a coffee and walk away. We're looking to build our businesses together. - Michele (15:50)
• It only takes one really bad experience...whether it's our fault or no - just being involved in a really bad experience to shake your confidence. - Michele (27:37)
• When you write down who you love working with, it is going to remind you that you already have made really great choices with who you are attaching yourself to, and who was being attached to you. - Michele (30:49)
• So every time that one bad experience comes up, I want you to say, "Nope, you don't get my focus." - Michele (38:11)
• I know all these things, but it's just really hard sometimes to put them in practice. - Shari (50:43)
• You have permission to implement it. - Michele (52:20)

Contact Shari

• Website: http://accentcustomdrapery.com
• Facebook: Accent Custom Drapery, LLC
• Instagram: @accent_custom_drapery

Contact Michele

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

• Profit First by Mike Michalowicz
• Who’s In Your Room? by Ivan Misner, et. al
• Best Journal Ever - Purchase Today
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On the podcast today, we're talking all about growing your interior design, business, and scaling. Isn't that a great topic to kick off the year? My hope is that by the end of the podcast, the idea of scaling is not something scary, but something that you feel like you can tackle.

I remember the first time I was asked how I was going to scale my business, and honestly, I got a little irritated. In my mind, all I could think of was “Dang, I just started this business. Why do I already have to start thinking about that?” The truth is that the earlier you think about it, the better. And so today, we're going to talk about the indicators that it might be time to scale, what scaling might look like, and hence it's not the same for everybody and what are some actionable steps that you can take.

• Growth
• Intention
• Plan
• Hiring

• There were some out there saying there was only one good way to do business and one way to scale. (02:05)
• I started streamlining every single thing that I could, and then I started choosing only the best projects. (03:41)
• I got very, very clear on my ideal clients and my ideal jobs, and I priced fairly and for value for everything that I was doing. (04:37)
• When we start a business, we really try to do it all. (07:44)
• The third indicator that it might be time to scale, is asking yourself, do you always have to put your future plans on hold? (08:10)
•  There is no glory and feeling like we're working ourselves to death. (11:16)
• Scaling allows us to do more of what we love and the way that we love to do it with those we love to serve. (11:33)
• So good systems and processes are vital to success, and hiring the right person will seriously help you. (16:35)
• Business growth happens because we have intent and we have money to invest. (17:20)
• My growth has taken years, I didn't go in and scale quickly, I scaled a little at a time with what I knew that I could afford and time and money. (19:17)

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

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With me again on the podcast is Ceil DiGuglielmo. Ceil and I had a joint podcast at the end of 2018 and agreed to do another based on the feedback. Ceil is owner of the Curtain and Soft Furnishings Library as well as Sew Much More podcast and also a drapery workroom by the same name. We are going to share how we approach a review of our company at year-end, how our thoughts and impressions impact our goal setting, what our goals look like, and the exercises we go through to help form our thinking and intentions. We would love for you to share your exercises and thoughts with us after you listen. Enjoy the podcast.

• Goal setting
• Yearly review
• Year-end exercises
• SWOT

• The word “Obligation” feels heavy.
• Outer expectations are what helps me get things accomplished.
• I have always cared way too much what people thought about me.
• The ability for me to stop and ask “What do I want?” has increased.
• Maybe we need to use the word “appointment” more in order to stick with things.
• Be committed to the pursuit.

• My processor doesn't turn off.
• I love to talk and I love to process externally.
• feel like if I'm going to spend time talking to somebody, I want to make an impact.
• Am I willing to get up and go get my booty moving because my calendar tells me to?
• I can't just be connected to “I want to be financially sound.”…I have to be connected to the pursuit of being financially sound.

• Website: https://www.sewmuchmorepodcast.com
• Facebook: Sew Much More Podcast
• Instagram: @ceildi
• Website: https://www.scarletthreadconsulting.com
• Facebook: Scarlet Thread Consulting
• Instagram: @scarletthreadatl

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Welcome to another episode of our Business Challenges Series. In this series, business owners share their challenges and we work through the issues to solve the problems they are facing. Even if your challenge is not the same, listen in to see if the methods and thought processes could apply to you. 

Our business challenge today is from Sheri Corey of Style and Stitch in Homewood, Alabama. Sheri is pivoting in her business to also prepare for the end game – retirement. Listen in as we dig into the fear that is surrounding her pivot and the often present Imposter Syndrome.

• Pivot
• Imposter syndrome
• Fear
• Rejection

• I question if I am good enough.
• I made a commitment…but can I really do it?
• I have a fear of losing money if a client doesn’t like what I’ve done.

• Website: https://www.styleandstitch.net
• Facebook: Sew Sheri Designs
• Instagram: @sewsherisew

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The podcast today is part of a new series called Business Challenges. In this series, business owners share their challenges and we work through some methods to solve the problems they are facing. Even if your challenge is not the same, listen in to see if the methods and thought processes could apply to you. 

Our first business challenge is from Annette Faber of Kaylee’s Creations in Greenville, SC. Annette is a to the trade workroom and is looking to scale. Her vision of the future of her business has a bit of a twist to it – and this twist can change the course of her business based on how she implements. 

• Entrepreneurship
• Challenges
• Growth

• I feel like there are so many other things that can get done.
• I am not cooking meals for my family. I am primarily working.
• I am honestly afraid of the commitment of having help.
• Having someone (help) who I can have with me all of the time is a challenge.
• Watching my business grow has changed me as a person.
• I thought “This is my last-ditch effort so I won’t have to go out of business.”
• It takes a lot of growing and maturing as a business owner.

• Website: www.kayleescreations.com
• Facebook: Kaylee's Creations
• Instagram: @annette.faber

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On the podcast today is Brenda Thompson, owner and lead designer at HouseLift Design. She is a designer in the Metro Atlanta area and started it as a second career after 20 years working in corporate. Brenda and I are going to talk about three main topics today: transitioning from corporate to being an entrepreneur, how she scaled her business and realized she could not do everything, and creating a work/life balance.  

Brenda is open and transparent about her journey and that makes it such a great discussion. My bet is that each person listening will find some area of the conversation that resonates with their own journey. I know I saw many parallels with my story.

• Weight
• Support
• Balance
• Transition

• I’ve always cared about profitability.
• I didn’t expect the “weight” of running your own business.
• I am always thinking about the business.
• I just wanted to have the freedom to do my own thing. Happiness matters.
• A support system is so needed when you venture out to start a business.
• I knew there was going to be a time period that I was going to work a lot.
• Anytime someone called me, I wanted to say yes….But it started to drive me crazy.
• I was letting the business run me instead of me running my business.
• My sanity and the flow was worth more than having that extra consult.
• When I didn’t have an outlet, I felt lonely.

• Website: https://www.houseliftdesign.com
• Facebook: House Lift Design
• Instagram: @houseliftdesign

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On the podcast today we are going to talk about transparency in pricing. We hear it all the time. The need to be transparent. I am going to tell you right now, there should be some boundaries around this - and spoiler alert – I don’t think we need to tell our clients everything. Listen to the podcast to hear the argument for being transparent in our process but guarded in our pricing.

• Trust
• Transparency
• Value

• When I began in the interior design industry 20 years ago, the most common way of pricing was by doubling (or more) the cost of the product.
• There is nothing worse than a client asking to see all of your invoices, all of your time statements.
• The pleasure of the experience is removed when we share too much.
• Let’s move the transparency to a place that makes more sense for our industry and for the final outcome of the client.
• “Margins” and “mark-ups” are not bad words.
• There can be some mystery around your pricing. It’s ok!

• Email: [email protected]
• Facebook: Scarlet Thread Consulting
• Instagram: @ScarletThreadATL

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