Welcome To Eloma

Feeling like you've stumbled into leadership? Wishing for a way to lead with more confidence and less stress? In this episode of Welcome To Eloma, host Kiley Peters is joined by Zovig Garbushian, the founder of Boldness Ablaze Coaching. With a wealth of experience spanning over 25 years in brand marketing, organizational effectiveness, and leadership development, Zovig delves into the crucial role of self-awareness in leadership.

Self-awareness goes beyond being just a popular term; it's a deeply impactful practice with far-reaching implications. It's a continuous journey of understanding who we are - our personalities, tendencies, and emotions - and how these influence our interactions with the world. Being self-aware empowers us to modify what's not working and enhance what is, leading to personal and professional growth.

Zovig points out a common oversight in leadership: the assumption that a leader's experience mirrors that of their team. This mindset can hinder genuine connections and understanding. Cultivating self-awareness helps leaders move beyond these assumptions, enabling them to appreciate and recognize the unique qualities of their team members. The result? More meaningful connections, improved decision-making, and a workplace culture that values inclusivity.

To develop self-awareness, Zovig suggests a path of curiosity. It's about questioning our reactions, emotions, and recurring patterns. Tools like self-reflection and journaling can be instrumental in this journey of self-discovery. Additionally, gaining perspectives from mentors or a personal advisory board can offer invaluable insights. Importantly, Zovig emphasizes the need for self-compassion and acceptance as part of this process.

The benefits of self-awareness extend far beyond the individual. It enables authentic self-presentation, eases the navigation of challenges, and fosters stronger, more genuine relationships in all spheres of life.

Quotes:

• “When I think of self-awareness, I think of it as having three components and they sort of build on each other. And the first one is curiosity about myself. And the second one is compassion for myself. And the third one is acceptance of myself. (9:31 | Zovig Garboushian) 
• “The better my relationship is with myself, the better it becomes with others.” (11:32 | Zovig Garboushian) 
• “I'm going to go out on a ledge and I'm going to say, this is just a statement for humanity. Like I don't care who you are, if you're leading people or if you're not leading people, if you own a company or if you don't own a company, I don't care who you are. Like, I think everybody needs to focus on understanding internal first before we have any shot at showing up for anybody else.” (14:32 | Kiley Peters) 

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Zovig Garboushian

LinkedIn: https://www.linkedin.com/in/zoviggarboushian/

Website: www.boldnessablazecoaching.com

"Your intellect is your greatest asset," asserts Erin Austin. Erin is a strategic lawyer and consultant who uses her 25+ years of practicing law, including roles as COO and general counsel at large and small IP-driven companies, to help businesses protect and leverage their expertise. Erin and Kiley Peters discuss intellectual property (IP) protection for entrepreneurs, helping listeners understand what IP really is, its significance in safeguarding their creative and intellectual work, and the essential steps for ensuring their innovations are legally protected.

Erin emphasizes the universal nature of IP, revealing that any creation of the mind, whether by an individual or a multinational, warrants protection. She tackles the issue of imposter syndrome, urging entrepreneurs to value their ideas and safeguard their intellectual assets. Erin clarifies that while trademarks represent the source of goods or services, copyrights protect the expression of ideas. She advises entrepreneurs to focus on securing copyrights for their unique content like workshops and training materials, crucial to creating business value.

Erin highlights the pitfalls of neglecting IP protection, including the challenges in enforcing rights and the risks of unintentional infringement. She offers guidance on proper attribution and quoting to avoid legal complications and underscores the importance of contracts in maintaining IP rights, especially in collaborations.

Erin also touches on the future of IP in the AI era, noting the current non-eligibility of AI-generated content for copyright. She recommends focusing on original content creation and introduces her NDA Navigator, a tool for managing non-disclosure agreements in business collaborations.

This episode unpacks the essentials of intellectual property for entrepreneurs, offering down-to-earth strategies for safeguarding their creative work and turning their innovative ideas into successful business assets.

Quotes:

• "Intellectual property is everywhere. Whenever we're using our intellect, we are creating intellectual property." - Erin Austin (01:35) 
• "We should not make the mistake that we don't have some valuable intellectual property that we need to be thinking about strategically to make sure that we are owning it, controlling it, and therefore we can use it to drive value in our businesses." - Erin Austin (02:17) 
• "Our goal is to create assets in our business, and just like any other asset, it's more valuable when you own the whole thing." - Erin Austin (00:04:11)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Erin Austin

LinkedIn: https://www.linkedin.com/in/erinaustin/

Website: https://www.thinkbeyondip.com/

10 percent discount on the NDA Navigator to Kiley's listeners.

Here is the link: https://thinkbeyondip.com/ndanavigator 

Coupon Code: ELOMA

As 2023 draws to a close, join Kiley Peters in this episode of Welcome to Eloma, where she delves into the essential practice of year-end reflection and setting goals for the future. Kiley shares the "DNA of success" framework from RAYNE IX, an innovative approach to defining and achieving personal success in alignment with business objectives. This framework, centered on purpose, energy, action, and knowledge, offers a clear path for personal and professional growth.

Kiley prompts listeners to deeply consider their motivations for starting a business, emphasizing how aligning everyday actions with long-term aspirations fuels ongoing motivation and decision-making clarity. She guides on structuring goals across varying timeframes – short, medium, and long-term – and breaks them down into manageable two-week sprints for focused and achievable progress. Emphasizing the importance of tangible goal setting, Kiley advises writing down these objectives and sharing them to foster a sense of accountability.

Kiley wraps up by inviting listeners interested in asking questions to check out her new CEO Hotline. This is an online community where Kiley will be answering questions and hosting a live Q&A. You can learn more at rixhotline.com. Also, be sure to subscribe to the Welcome to Eloma email list for ongoing learning and business-building tips!

Quotes:

“I firmly believe, and at RAYNE IX, this is what we practice, is that we have to define success for ourselves and then align the work that we do and the businesses that we run to our personal definition of success. Because if we jump right into running the business, It might work for a little while and that's all well and good, but if we are just focused on running the business and we don't check in with ourselves to understand why we're doing this and what we're trying to accomplish. And I mean, we're all starting a business for a reason, right? It's usually autonomy, flexibility, ownership of time, maybe to make more money, whatever it is, usually to do good in the world. But if we don't get clear on what that is upfront, at a certain point in time, we start to question what we're doing in terms of running the business and why we're spending all this time and energy doing it if we haven't set those expectations and those intentions upfront.”  (2:55 | Kiley Peters)

“So say, in a 90-day period of time, your goal is to launch a program? Well, you might break that down. So you say, okay, I'm gonna launch a program and here are all the steps that I need to accomplish in order to launch that program. So I would recommend building that out in a project management tool, et cetera. And then break those down into two-week sprints so that it becomes really bite-sized. Okay, in these two weeks, these are the four things that need to get done for this big goal, this medium goal, this small goal. And then once you get through that, great. Now, these two weeks, this is what needs to get done. So again, it just becomes really bite-sized.” (16:02 | Kiley Peters)

“We are significantly more likely to accomplish our goals if we write them down on a regular basis and we tell people them because those people can then help hold us accountable.” (20:19 | Kiley Peters) 

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Building a community is tough. It's not easy, and anyone who tells you otherwise is lying. But here's the thing, communities have the power to change lives. This episode of Welcome to Eloma features host Kiley Peters in conversation with Deb Schell, a seasoned community strategist and co-founder of Community Consultants Collective.

Delving into her rich experience in this space, having launched more than 60 online community projects, Deb highlights the essence of fostering intentional and authentic connections within a community. She emphasizes creating an environment of psychological safety where members feel a genuine sense of belonging. It's not just about bringing people together; it's about nurturing a space where everyone feels valued and heard.

There are watch-outs.  Deb points out common pitfalls in community building, such as rushing into launching without a deep understanding of the target audience or the unique value the community offers. She underlines the critical role of listening to community members, actively seeking their feedback, and using it to enhance engagement and meet their needs effectively.

Deb's greatest insight? Trust. Trust that things will work out, even when entrepreneurship gets tough. Deb encourages entrepreneurs to embrace resilience, trusting the process even through challenging times and leveraging their unique strengths. 

For anyone intrigued by the idea of building and growing a community, this episode offers actionable insights. Listeners may also want to check out the Community Strategy Podcast, where Deb has interviewed over 100 business and community leaders to learn firsthand what strategies work for online community builders.

Quotes:

• “A lot of people have that philosophy that it's a passive income generator. And community is anything but passive.” (7:18 | Deb Schell) 
• “A lot of people miss that step of what problem is this community solving? How am I helping them and what's in it for them as the member versus what's in it for me as the host? And you have to have two lanes, right? Because you can't only think about members because you might have a revenue problem. And if you don't think about the business, if you think about the business only, then you really don't have a good path to really serving the members in an authentic way. So it's really about that balance.” (11:45 | Deb Schell) 
• “The biggest measure of success in a community is, are your members actually utilizing and implementing whatever they're learning in their daily life?” (13:47 | Deb Schell)  
• “The impact of community is helping other people to connect with others, authentically and intentionally, so that we can feel more sense of belonging and acceptance, because our world has been one of lack and exclusions and not including people and keeping people you know, not available in a lot of scenarios. Not accessible to things. While the world is changing, it's also that this is the time for us, as community builders, to open up the gates and to be able to connect with others.” (37:17 | Deb Schell)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Deb Schell

Website: https://findcalmhere.com/

LinkedIn: https://www.linkedin.com/in/debschell/

Discover the power of scarcity and how it can transform your business in this captivating episode of Welcome to Eloma. Kylie Peters is in discussion with guest Mindy Weinstein, founder and CEO of Market Mindset and author of "The Power of Scarcity: Leveraging Urgency and Demand to Influence Customer Decisions". Mindy, a marketing expert and psychology PhD, shares her insights on leveraging scarcity to influence customer decisions. With real-life examples from renowned brands like McDonald's and 1-800-Flowers, Mindy reveals the four types of scarcity, supply-related scarcity, demand-related scarcity, time-related scarcity, and limited edition scarcity. Each type can be leveraged by entrepreneurs and business owners to create a sense of urgency, exclusivity, and value in their offerings.

Leverage Mindy’s excellent advice to apply scarcity to increase sales, customer retention and overall revenue for your business.

Quotes:

• "Scarcity is any type of unavailability or restriction." (07:24 | Mindy Weinstein)
• "When faced with scarcity, the parts of our brain that have to do with valuation or even decision-making start to light up." (23:09 | Mindy Weinstein) 
• "Scarcity equals value." (25:09 | Mindy Weinstein) 
• "FOMO is tied with scarcity. Now in the psychology world, we don't refer to it as FOMO, we refer to it as loss aversion." (25:49 | Mindy Weinstein)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Mindy Weinstein:

Website: http://powerofscarcity.com/

LinkedIn: https://www.linkedin.com/in/mindydweinstein/

"Cash flow is king. It's like oxygen to a small business. We can't breathe, we can't operate without it," says Kiley Peters. 

In this episode, Kiley offers listeners tangible, actionable advice on the often tricky terrain of cash flow management. Her primary strategy hinges on a balanced approach: curbing costs while innovatively ramping up revenue.

Starting with expenses, Kiley drives home the significance of periodic financial audits. By closely examining credit card statements, she suggests business owners can often find and eliminate unnecessary costs, leading to substantial savings. Additionally, she suggests that during financial crunches, business owners might have to contemplate reducing their own salaries temporarily.

In addition to spending less, Kiley encourages entrepreneurs to explore additional revenue streams. She suggests forming partnerships and affiliate agreements to incentivize referrals and increase business. She also touches on the elusive concept of passive revenue, acknowledging that while it may be challenging to achieve, it's worth exploring for long-term financial stability.

Kiley also highlights the importance of leveraging technology to replace repetitive tasks and maximize the productivity of team members. By automating certain processes, business owners can free up time and resources to focus on higher-value activities. 

When it comes to funding, Kiley advises caution but acknowledges that sometimes taking on debt is necessary to weather the storm. She suggests exploring options such as lines of credit, loans, and home equity lines of credit (HELOCs), emphasizing the importance of understanding interest rates and repayment terms. 

Throughout the episode, Kiley reminds listeners that entrepreneurship is not for the faint of heart. Making tough decisions and managing cash flow can be challenging, but it's an essential skill set for successful entrepreneurs. 

Quotes:

• "Make sure you're going through and either getting refunded or reimbursed expenses that are no longer relevant, or ending subscriptions, because that just eats at the bottom line." (07:23 | Kiley Peters)
• "Explore additional potential revenue streams. Maybe there's different partnerships or affiliate agreements. Who would be great referral partners for you and how can you incentivize them to send you new business?" (07:38 | Kiley Peters)
• "Take a look at leveraging technology to replace humans. Finding good help is not easy. So make sure you're utilizing the talent that you do have in the best way possible and consider tapping into technology, if it makes sense." (08:37 | Kiley Peters) 
• "Entrepreneurship is not for the faint of heart. It is not easy. There are a lot of hard decisions, a lot of hard decisions, but that's part of your job. That's part of your job is to make difficult decisions." (23:50 | Kiley Peters) 
• "Be gentle with yourself, but also make sure that you make the decisions you need to make and you're not avoiding things because those oftentimes cost us significantly more." (25:55 | Kiley Peters)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

"Building a small business is not about just making money, it's about making your dreams come true." - Pat Miller

In this episode of the Welcome to Eloma podcast, host Kiley Peters sits down with Pat Miller, the idea coach and founder of the Idea Collective. Pat shares his journey of accidentally starting the Idea Collective during the challenging times of the COVID-19 pandemic. What began as a daily show to bring small business owners together during a time of uncertainty quickly grew into a thriving community of solopreneurs.

Pat and Kiley discuss the struggles that small business owners face, particularly in the current economic climate. They touch on the pressure of rising prices and cautious customers, and the unspoken dignity that comes with being a small business owner. They emphasize the importance of community and support in navigating the challenges of entrepreneurship.

One of the key insights from their conversation is the need to focus on the shared purpose of building a business and making dreams come true. Pat encourages business owners to stay true to their guiding light and not be swayed by the image of success portrayed by others. He reminds us that we only have one chance to make a difference and leave an impact, and that it's worth pushing through the tough times to achieve our dreams.

Pat also shares his excitement about his new daily show, Small Business Mornings, where he aims to inspire and motivate business owners to start their day with the right mindset. He believes that by providing a source of news, laughter, and mindset guidance, he can help small business owners make their dreams come true.

Quotes:

• "Community is built when we have a shared purpose and we're all fighting for the same thing." - Pat Miller (03:13)
• "There is an unspoken dignity in people that take the risk to go be a small business owner." - Pat Miller (07:20)
• "We're not building a job, we're building a dream and that should be honored." - Pat Miller (08:06)
• "I want to help small business owners make their dreams come true at scale." - Pat Miller (30:31)
• "We only get one chance to make a difference, to leave an impact, to have our natural talent expressed in its highest order, and to ultimately have no regrets." - Pat Miller (32:06)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Pat Miller:

LinkedIn: https://www.linkedin.com/in/jpatmiller/

Website: https://www.ideacollectiveincubator.com

“Regardless of who writes the check, you are in business for yourself,” says Dr. Donna Smith Bellinger, sales consultant and CEO of DS Bellinger Consulting. Dr. Bellinger joins the podcast to give advice about how entrepreneurs can best, as she calls it, “consistently communicate your competence.” This starts with demonstrating that you are someone people want to follow. This means knowing your non-negotiables and standing by them without apology, going where your expertise is valued, and deciding on the best use of your precious time. These boundaries will allow you to select only the clients who will best serve you and whom you can best serve in return. 

Dr. Donna brings more than 40 years of corporate leadership experience to today’s discussion. Join to learn about what she calls objection aversion, how to know if your job is really a hobby and her honest thoughts about being broke.

Quotes

• “You need to remember that you are not now selling a brand. You are selling your education and your expertise.” (3:04 | Dr. Donna) 
• “Especially in the US, we're a bunch of followers. We follow successful people. So if you want to attract a certain level, you have to demonstrate that you are that person that they like to follow. We don't follow broke people. We just don't do that.” (8:42 | Dr. Donna)
• “You need to totally understand your non-negotiables and then stand by them. Because again, if you're letting the business run you, this is just the job that you own.” (15:46 | Dr. Donna)
• “You must be able to consistently communicate your competence, which is your value.” (20:39 | Dr. Donna)
• “The first person you have to sell on the value of your business is yourself. That way when you make the offer, and only offer the opportunity to work with you, to people that you want to work with. If they represent people that you don't like, don't work with them. Go find somebody you enjoy being with.” (23:48 | Dr. Donna)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Dr. Donna Bellinger:

LinkedIn: https://www.linkedin.com/in/donnasmithbellinger

Website: https://www.askdsb.com/

Hype. The definition can vary wildly depending on who you’re talking to. Today’s guest Michael F. Schein, founder and president of MicroFame Media and author of “The Hype Handbook,” defines it as “any set of activities that get a large number of people highly emotional, so that they'll take the action that you want them to take.” From Virgil to the Punks and the Beatles–and of course the South Bronx where hip-hop and the term as we know it today was born–artists throughout history have used human behavior, particularly group behavior, to create propaganda and what we now know as personal branding.

The most successful people, he explains, use hype not as a separate marketing strategy but as part of the art itself, creating whole worlds (like Warhol’s factory) and personas consistent across all media (Steve Jobs’ wearing the same black turtleneck and jeans, for example). This creates more organic interest and brand integrity. Most people are pretty similar and have been and will always be driven by the same desires. If you can learn these, Michael says, you will know how to get and keep their attention no matter which trends or technology platforms move in and out of vogue. 

The Hype Handbook is the culmination of ten years of research and life experience. Starting out in a punk band–where he and his bandmates proved to be natural marketers–before moving into marketing and writing, Michael realized there were about 12 key principles that make for good promotion. Join the conversation to learn why he believes happiness and a fulfilling life are found through side doors and why having a Plan B is, well, over-hyped. 

Quotes

• “I guess that's what hype means. It's not just having a marketing budget. It's conducting experiments to figure out how you can embody your values in a very public way, how you can tap into human psychology to get people excited about that. And then how you can embody that in everything you do.” (9:53 | Michael)
• “If you're seeing all of these articles telling you that AI, or the metaverse, or social media, or whatever the latest thing is, if you don't have a strategy on that, you're going to fall behind…they use these tools as accelerators, but it's not the route.” (17:33 | Michael)
• “One of the strategies in my book is packaging is the essence of propaganda.” (18:57 | Michael)
• “I don't think things are linear at all. I think history is cyclical. I think trends are cyclical.” (24:44 | Michael)
• “Human beings are more alike than they are different…these are things that you can reverse engineer and figure out. We all like to think we're individuals, but we're about half a percent individual.” (25:34 | Michael)
• “You're never going to know exactly what the recipe is. You're always going to have to conduct experiments. But if you have a firm understanding of the way that humans behave in groups and the way human minds work, you can conduct experiments quickly and strategically, in a way that you won't waste time on stuff that will never work.” (37:43 | Michael)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Michael F. Schein

LinkedIn: https://www.linkedin.com/in/michaelfrancisschein/

Website: www.microfamemedia.com

"Family-owned businesses thrive when they separate ownership decisions from operational meetings and create intentional boundaries between work and family life." - Amy Wirtz

In this episode, host Kiley Peters dives into the complex world of family-owned businesses with the help of senior consultant Amy Wirtz from the Family Business Consulting Group. Together, they explore the unique challenges faced by those working in family businesses and the importance of tapping into the expertise of third parties to navigate these complexities.

Amy shares her passion for helping families define their goals around their values, ownership, and financial wealth. She emphasizes the need for family members working together to separate their personal and professional relationships, treating each other as employees or owners in the workplace. By bringing their best manners into the business, they can avoid the pitfalls of treating each other as siblings or family members, which can lead to tension and unproductive communication.

Another challenge Amy highlights is the need to hire and pay for qualifications rather than relationships. She encourages family-owned businesses to adopt a business-first mindset, making decisions based on the needs of the business rather than family dynamics. This approach not only strengthens the business but also makes it more attractive to non-family talent.

Amy also delves into the complexities of intergenerational transitions and the sale of the business. She discusses the importance of educating the next generation about the business and preparing them for ownership. She suggests considering a combination of selling and gifting the business to the next generation, allowing them to have a sense of ownership and make their mark while respecting the legacy of the previous generation.

Throughout the episode, Amy's passion for empowering people shines through. She loves seeing the transformations that occur when family-owned businesses embrace new knowledge and take ownership of their success. Her work is helping family-owned businesses create a legacy that lasts for generations to come.

Quotes:

• "You have to remember that when you're in a family system, people tend to treat each other with, act in a way and communicate in a way where they know those relationships will exist typically no matter what they do. There's unconditional love, right? And that works in a family. It does not work in a business." (3:41 | Amy Wirtz)
• "It's invaluable to have a good team surrounding you, both in advisory systems and in leadership systems and to really consider governance at that point. So to look at how a board of advisors or a board of directors can assist your team and bring knowledge into it to assist it as it continues to grow. " (07:02 | Amy Wirtz)
• "Separate your meetings that you have with your employees from ownership decisions and make the time to have them. Even if you only do it every three months or every four months, have an hour set aside to talk about ownership stuff. Separate your ownership decision meetings from your operation meetings." (22:48 | Amy Wirtz)
• "When you are spending time with your family, spend time with your family. And that might mean that everybody that enters the room for dinner sets their cell phones in a basket and leaves work at the door. You will have a much happier rest of your family." (24:40 | Amy Wirtz)

Links

Connect with Kiley

Learn more at WelcomeToEloma.com

Work with us at RAYNEIX.com 

Newsletter Signup: RIXNewsletter.com 

Linkedin: Kiley Peters & RAYNE IX

Instagram: @kileypeters & @rayneix 

Email: [email protected]

Connect with Amy Wirtz

Website: www.hefbcg.com

Social Media Handles:

https://www.linkedin.com/in/amywirtzcepa/