Profit Is A Choice

261: Podcasting as a Revenue Stream With me on the podcast today is Traci DeForge. Traci has over three decades of experience in broadcast media, executive management, and consulting for Fortune 500 businesses. She is the founder of Produce Your Podcast, and she's going to be sharing with us today how creating and having your own podcast can lead to profitable results in your life and in your business. Topics Mentioned: Marketing Authenticity Leverage Key Thoughts: I think people just have to really understand when you make the decision to start a podcast, the fundamental thing that you want to think about is your why. Traci DeForge Podcasts, truthfully, don't have to be ginormous and huge and reach the entire world. It just has to reach your ideal client for whatever purpose you have for that podcast. Michele Williams If you change that person's perspective with one thought and you make a difference to that one person, that could change their life. Traci DeForge I have met some of the most amazing people by hosting them on my podcast and talking to them. I've hired many of the people that I have talked to on my podcast because I'm usually interviewing somebody because I'm interested in what they're doing. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Traci: Website: Produce Your Podcast Facebook: @tracideforge Instagram: @produceyourpodcast Email: [email protected] YouTube: @produceyourpodcast LinkedIn: @tracilongdeforge References and Resources: CFO2GO Work with Me Metrique Solutions Journey to There podcast Unfiltered Wisdom: Free Coaching from Michele's Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success. Learn More

260: CFO2GO Success Story With me today is Kate Wood of Worth Preserving. Kate partners with property owners, designers, architects, trades, and others to rescue, rehabilitate, and determine what is worth preserving in historic homes and buildings. Recently, Kate completed my CFO2GO program, and the results that she has had in just a few short months have been astounding. In this episode, we're going to talk to Kate to understand a little of her journey to reclaim the love she has for her work, to be able to make money doing it, and to have the ability to make magic as she works with her clients every day. Topics Mentioned: Loss Leaders Financial Planning Shifted Orientation Practice of Financials Key Thoughts: It is the merging, that intersection between the strategy and the plan and who I am and what I'm trying to do and how I'm going to price it and how I'm going to manage the money and how I'm going to run it through my company. That intersection is where the magic happens for the business owner and for the business as a whole. Michele Williams I go back to my final report and I am in Metrique every month putting in my numbers and making adjustments. Kate Wood Thinking about our financials as a practice gives us the ability to continually practice getting them and keeping them in alignment with all the things that we're doing. Michele Williams It is a constant tweaking and evolution and I'm just excited about the business now because I do think of it as a business that has value and not just to me, but to other people. Kate Wood Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Kate: Website: Worth Preserving Instagram: @worthpreserving Email: [email protected] YouTube: @KateWoodWorthPreserving References and Resources: CFO2GO Work with Me Metrique Solutions Worth Preserving: Weekly Newsletter and Free Download for Interior Designer Unfiltered Wisdom: Free Coaching from Michele's Keyboard to You Are you hungry for more? Subscribe now to receive two free coaching emails per month, personally crafted by Michele! Delivered every two weeks, these emails are packed with valuable insights, actionable strategies, and thought-provoking ideas to guide you on your business transformation journey towards greater success. LEARN MORE

259: The Power of Feasibility Robyn Thomas is joining us today on the podcast. Robyn has an architecture degree from Auburn, and she has merged that education with her love of design to provide a one-stop architecture offer specializing in design completion and optimization. She calls it the master of done. I love that so much. Today we're going to delve into feasibility, what it is, why it's needed, and when is the right time for the conversation around it. Enjoy the podcast. Topics Mentioned: Metrics Processes Project Management Teamwork Key Thoughts: We sometimes get so enamored with the result that we don't look at the result and then backpedal our way through it to get to the beginning Robyn Thomas I'm all about feasibility... It's really saying, what are the resources available and how can we best use them? Michele Williams There are indicators and metrics that we can pull into our discovery call, or consultation process that we want to introduce early, way before we get into what color are the walls. Robyn Thomas I think that in feasibility, sometimes people again have the idea that they're fighting against you to get something done, even though it's not you, it's what you're bringing up, the budget, the timeline. You're the representation of those things. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Robyn: Website: www.robynstudios.com Facebook: rs.homeguidestudio Instagram: @rs.homeguidestudio Email: [email protected] Pinterest: robynstudiosga/ References and Resources: CFO2GO Work with Me Metrique Solutions

258: 4 Strategies to Stop Being Underpaid I am so excited to be talking to you today. I'm actually so excited that I didn't wait and get all dolled up to be on the video part of the podcast. I decided in the middle of my work session just to stop and go ahead and share this message. So, I hope you are excited as I am, because we are going to talk about four strategies that will stop you from being underpaid. Do you know what it means to be underpaid? It means a high tolerance for low pay. I think that it is a problem, especially for creatives and certainly in the interior design industry. Now, some of you may be listening to this podcast and you may be thinking, hey, no problem here, I get paid all the time. But my question would be, do you take the money out of the company with ease, without feeling stressed? Some of you may be listening to the podcast and thinking, oh yeah, I have a high tolerance for low pay. Instead, I'm a people pleaser and I want to do great things for other people. Stay tuned because we're going to talk about the four strategies that will help you not be underpaid, but to be paid fairly and to be able to have a profitable company - at the same time Topics Mentioned: Value Worth Pricing strategy Career path Key Thoughts: People are paying you for what you know, or they're paying you for what you have the ability to learn and to know. Michele Williams People are willing to pay you for what you know. Michele Williams Time is a currency that we spend in our calendar, and people will pay us for the time that we have available to devote to their project. Michele Williams We're all looking at what we can hand off to somebody else's task list. Stress relief is a big deal. Michele Williams Understanding pricing and understanding your attitude around it is really going to allow you to move forward with confidence and not cockiness. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO2Go Metrique Solutions

257: Design the Life You Want Nicole Comis is a life and mindset coach, and she's passionate about helping driven professionals achieve their career goals without sacrificing their personal lives. She's certified by the International Coaching Federation and she's also a neurolinguistics programming master coach. Nicole's goal is for those that she works with to recognize that success comes from living a happy, healthy, and balanced life, whatever that might look like for them. If you're feeling tired or overwhelmed or not sure what to do next, this is the podcast for you. Topics Mentioned: Health Success Balance Mindset Key Thoughts: The reason why we burn ourselves out and the reason why we work our butts off is because it's our programming. Whether it's a fear or a limiting belief or that's what dad did, that's what mom did. We are programmed to think that that's what we need to do, whether it's, I need to prove myself, I need to prove I'm worthy or not, that's just what is done, or you've got to work your butt off to make money. Nicole Comis That makes me think of what grace has been bestowed upon me and upon my life and upon those I love or those I'm watching. Seeing the grace that we get every day, that is what makes me joyful. Michele Williams The more that you can identify your fears and your limiting beliefs and understand where those come from, the more aligned you feel, and I do tell my clients, too, to really practice making decisions based on your vision and your values. Nicole Comis When other people's ideas and influence get like that, we have to turn it off, and then we've got to be intentional about the influences of the people that we let speak into us. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Nicole: Website: https://www.nicolecomis.com Facebook: NicoleComisCoaching Instagram: @nicolecomis Email: [email protected] LinkedIn: nicolecomis Tic Tock: @nicolecomis References and Resources: CFO2GO Work with Me Metrique Solutions Necessary Endings by Dr. Henry Cloud Life Fulfillment Exercise Sew Much More Podcast Podcast with Jennifer Looney: Creating a Board of Directors that Support You

256: One Size Does Not Fit All One size does not fit all. Okay, I just said it. I know that's going to be hard for some of you. But in our haste to get things done, to keep moving, to provide a service, often we're looking for that shortcut to success. We're looking to ride the elevator to the top instead of taking the stairs. Today, we will explore how to choose the right offer for our company and ultimately, for our customers. Topics Mentioned: Templates Metrics Problem Solving Business Solutions Key Thoughts: I've used templates. I have templates. I think they're awesome, but they're only as good as they know how to be used and how to be tweaked. Michele Williams Simply purchasing a template without a complete understanding of the problem that it's solving is just going to create more busy work for your team, leave you lacking in the outcome desired, and it's honestly going to cause frustration. Michele Williams Our goal here is to help you truly understand the challenge that you have and the problem that you're solving. Michele Williams What we are dedicated to is empowering you to know how to read the signs, know how to determine what's needed, and knowing how to adjust your systems, whether they're purchased systems or created systems so that they can grow with your company. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO2Go Metrique Solutions

255: Ignite Your Passion in Your Business With me on the podcast today is Jacqueline Green of Behind the Design company. Jacqueline is a coach, and she helps people move from a hobby into the business that they want that can be profitable. We're going to have a very robust conversation today on how to identify areas that we're passionate about and how to give ourselves the freedom to move from one direction to another, not to stay stuck. I hope you enjoy the podcast. Topics Mentioned: Passion Pivot, Growth Mindset Key Thoughts: As you build wisdom, as you build your knowledge base, what was important to me in my 20s versus what's important to me in my 50s is completely different. That's what's so unique and fun, is really seeing what could this really be. And getting out of whatever mindset that we were kind of stuck in from our past. Jacqueline Green Giving ourselves the freedom to even go through that discovery process, I think is really what you're inviting us to here, is to not feel that we have to be stuck, no matter how far we're in business, no matter where we are. Michele Williams It's giving yourself permission to put yourself first on occasion to really look at what you really want in life and how you are going to get there. Jaqueline Green I see one thousand opportunities within this industry to build a business, doing the parts that we always have, parts we don't love, but focusing on what you love. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Jaqueline: Website: www.behindthedesignco.com Facebook: behindthedesignco Instagram: @behindthedesignco/ Email: [email protected] LinkedIn: behind-the-design/ LinkedIn: jacquelinereed/ References and Resources: CFO2GO Work with Me Metrique Solutions Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion" Growth Mindset by Carol Dweck Necessary Endings by Dr. Henry Cloud

254: CFO2GO for Your Business On the podcast today, we're going to consider the work of a CFO or a chief financial officer. Given that most of our businesses are too small to hire this as a full-time position, we've begun to see the rise of fractional offerings in this space. Today, we're going to talk about what a CFO does, and if you need one. Topics Mentioned: Financial Planning Budgets CFO Metrics Key Thoughts: What does it mean to hire fractional? It means to share time. So that's really all that we're saying is you're sharing time with another company to have someone come in and perform those services. Michele Williams But as we know, all CFO services are not the same, just like all design services are not the same. Michele Williams Why would we name it CFO2GO? Because our goal is to help you understand how to do this work and then let you go do it, not to hold you tied into some long-term engagement. Michele Williams There's nothing worse than either not knowing how to pay yourself, having the money in the account, not knowing if you can take it out, not knowing what it's meant to do, and not having a plan. We can help you solve every bit of that. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO2Go Metrique Solutions Profit First by Mike Michalowicz

253: Removing Fear from Video in Your Business Joining me today is Jasmin Bryant with Fear No Video. Jasmin has had a very varied background. She has worked in television, as an actress, and in the news. She is going to share with us today how we can show up on video without fear. One of the things that Jasmin and I are going to focus on is how to remove some of the self-talk that we have before we ever do it, how to get ourselves ready to go on video, and how to make sure that the message is something that we want to share. So, I invite you to listen in. Topics Mentioned: Fear Messaging Confidence Critique Key Thoughts: One of my mentors said something that blew my mind, which was, perfectionism is a first cousin to procrastination. Trying to get everything perfect just leads us to putting it off and putting it off until we don't do it. Jasmin Bryant I don't think it's possible for us to criticize other people at a really high level without turning that focus and criticism on ourselves in an extremely negative, hurtful, hold us back kind of way. I just don't see that being positive. Michele Williams For anyone who's watching, anyone who's listening, you take those breaths, and you'll feel calmer. Your message will be clearer, and you'll be surprised at how much better your video is. Jasmin Bryant I memorize the points in order so that I know this is kind of the route that I'd like to take as I'm sharing and then you just speak from the heart. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Jasmin: Website: Rock That Video Facebook: Fear No Video Instagram: @fearnovideo Email: [email protected] YouTube: Fear No Video LinkedIn: Jasmin Bryant References and Resources: "Five Keys to Beat Camera Shyness" free e-book CFO2GO Work with Me Metrique Solutions Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion"

252: The Intersection of your Financial and Strategic Plans On the podcast today, we're going to be talking about the intersection of your financial plan and your strategic plan. It's not enough to have one or the other. We really need them in combination to make our business as healthy as possible. So, listen in as we talk about that overlap between the two. Topics Mentioned: Cost to everything Ability to evaluate and prioritize Budgets and financial systems support Strategy first Key Thoughts: I would always start with strategy first, especially in a planning phase, and then look to what it's going to cost and then back up. Michele A company could have goals that are even bigger than what the current strategic plan is. Michele This intersection of the finances and the strategy is once you have the financials set to your strategy, it gives you something to measure. It allows you to set KPIs, or key performance indicators, the things that you want to measure. Michele. Metrique Solutions allows us to pull in that financial data from our financial accounting software, and then it allows us to do things like manage the data, analyze the data, model the data where we don't have other tools to do that. Michele Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO2Go Metrique Solutions

251: Year End Wrap Up Joining me on the podcast today is Ceil DiGuglielmo. You probably recognize Ceil as she has been with me multiple times since 2018. She is the owner of the Curtains and Soft Furnishings Library and the host of the Sew Much More podcast. Every year, Ceil and I get together to talk about what has happened over the last year. We share our business and life experiences, our highs, our lows, what we're most proud of, and what we're looking forward to the next year. We hope that this authentic conversation that you can listen in on between the two of us will spark an interest in you to have that special someone that you can share some of your business highs, lows, and what's happening with as well. Enjoy the podcast. Topics Mentioned: Work life balance Definition of success For Now Key Thoughts: When life has struggles in it, you do need a little decompression from that, too. As high performers, I think we just keep going. We just keep going. Ceil DiGuglielmo It's been a year of recognizing the exhaustion from those things and learning how to set those things down. Michele Williams I love that the mindset has changed, and I love that people are dropping statements like, yeah, cash flow is a big problem for me and that's because I just did this or just did that. Ceil DiGuglielmo When we are in business and the impostor syndrome kind of rears up, we need to stop and say to ourselves, wait a minute, I was never tasked with knowing everything. I was tasked with having a company that would do research and development to find the answer. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Ceil: Website: The Sew Much More Podcast Website: The Curtains and Soft Furnishings Resource Library Facebook: The Sew Much More Podcast Facebook: The Curtains and Soft Furnishings Resource Library Instagram: @ceildi Instagram: @csf_resource_library Email: [email protected] References and Resources: "The Gap and the Gain" by Benjamin Hardy and Dan Sullivan "How to Grow Your Small Business" by Donald Miller "Unreasonable Hospitality" by Will Guidara "Getting Things Done" by David Allan "Buy Back Your Time" by Dan Martell "Strong Like Water" by Aundi Kobler "Try Softer" by Aundi Kobler CFO2GO Work with Me Metrique Solutions Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion"

250: Financials are the Foundation to Work Life Balance Joining me on the podcast today is Val Duvick. She is the owner of Val Marlene Creative. She is a Profit First coach and a business coach for those in creative industries. We're going to have so many awesome things to talk about today including Profit First, what it is like to be a creative, how to balance the energy between our left logical side and right creative side, as well as how to get to a happy, medium place where our financials are easy to look at and simple to maintain. I invite you to listen in. Topics Mentioned: Work life balance Definition of success For Now Key Thoughts: I tell people I'm allergic to numbers because it feels so intense that my brain just does not want to understand them, but I realized I had to if I wanted to have the type of business and work-life balance that I wanted. Val Duvick The power of the numbers is what gives us the freedom to build the fence and to build the boundaries around our lives and our business. Michele Williams We need to know the minimum, and we also need to know where you're headed. Once we have that in mind, we can fill in the rest, and it makes it more attainable. Val Duvick I think part of success is recognizing those blessings so that we're not so always caught up on how much more we have to do and build and grow, but being thankful for how much more we already have. Michele Williams Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Val: Website: www.valmarlene.com Email: [email protected] Instagram: @val_marlene_creative References and Resources: The Gain and the Gap by Benjamin Hardy and Dan Sullivan CFO2Go Work with Me Metrique Solutions Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion"

249: 5 Financial Mistakes Made at Year End On the podcast today, we're going to be talking about the five mistakes that business owners make at the end of the year. I want you to listen in and see if you are finding yourself falling into any of these traps so that you still have time to do something different. Topics Mentioned: Cash flow Budgets Debt Key Thoughts: I would say nine times out of ten, we're more likely to overspend a budget than to underspend a budget if we're not watching it and being accountable to that budget. Michele If you find yourself in a cash flow negative situation, remember, that you always have to get cash flow neutral before you can go cash flow positive. Michele Lifestyle creep is where every time you make a little more money, your lifestyle raises, and then you need more money, and then your lifestyle raises versus keeping your lifestyle where it is and letting the money be made and then letting it be saved. Michele Businesses that get themselves in trouble don't manage that money properly, which means that they don't have a strong cash reserve. Michele Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO2Go Metrique Solutions Episode 179: Setting and Revising Your Financial Goals Episode 189: Reviewing Your Profit First Strategy Episode 209: Metrique Solutions is Your Financial Partner in Business Episode 234: How to Manage My Money in My Firm Episode 243: Managing to a Budget in Your Design Firm Episode 247: Using Debt Strategically in Your Business

248: All Roads Can Lead to Profit Today, I am excited to offer you a replay of an episode that I did back in 2018 with Mike Michaelowicz. You may know Mike, he is the author of a large number of books from Profit First to Clockwork to Surge, The Toilet Paper Entrepreneur , and The Pumpkin Plan. Mike and I had a really awesome conversation about how all roads can lead to profit if you set the correct coordinates. I really thought that as we're wrapping up this year, things have been shifting, they're a little bit different, we've been through a pandemic, and we've watched buying patterns change over the years and I think this is a great time to be reminded of the fact that we have agency and choice in our business and that those choices that we're making either lead us closer towards profit or further away from profit. With that being said, I want to introduce to you Mike Michaelowicz. Topics Mentioned: Profit Real revenue Sustainability and Responsibility Ideal Clients and Target Markets Thoughts from Mike: Profit means that I continue to deliver what I intend to for my community. Clients want to know that your business is sustainable and sustainability is profitability. It is important to have a realignment of pride in profits. In The Toilet Paper Entrepreneur we learn that lack is our biggest advantage. Lack brings about innovative thinking and challenges us. In Pumpkin Plan we learn how to grow organically and healthily and to identify our best clients. Once we have clarity on a purpose, the journey becomes very rewarding. Surge teaches how to know your industry and to see what the next big thing is. Clockwork teaches that our business can be sustainable and not reliant just on us. Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Mike: Website: https://mikemichalowicz.com/ Twitter: https://twitter.com/MikeMichalowicz Facebook: https://MikeMichalowiczFanPage/ References and Resources: The Toilet Paper Entrepreneur by Mike Michaelowicz The Pumpkin Plan by Mike Michaelowicz Profit First by Mike Michaelowicz Surge by Mike Michaelowicz Clockwork by Mike Michaelowicz E-Myth Revisited by Michael Gerber CFO2Go Work with Me Metrique Solutions Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion"

Joining me on the podcast today is Danielle Hendon. She is the owner of Four Corners CFO. Danielle loves to take big business ideas and break them down to support small businesses to reach that next goal, to grow and scale, or to just wrap their arms around their business. We're going to have a really great conversation today focusing on debt, such as good debt versus bad debt. Topics Mentioned: Debt Intentionality Understanding your financials Key Thoughts: Honestly, the difference between good and bad debt is the intention behind it. If you're going into debt, because you didn't do something, and it's a last resort, it's generally not the best type of debt to have. Danielle 11:37 It's the fixing of the process because that's part of that intentionality, I teach an aim with intent methodology. It starts off by having a solid foundation and then creating intention, intentional budgets, intentional KPIs, and intentional spending patterns. Michele 15:28 Every business, we've all got to start somewhere, and I tell people all the time that debt is such a loaded word, and it carries such a burden to us mentally, and money in general. Cash makes or breaks a business. Danielle 20:06 It's really being aware of what's happening. Otherwise, everything is reactionary as opposed to being proactive with our money. Michele 34:53 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Danielle: Email: [email protected] Website: https://4cornerscfo.com LinkedIn: @Danielle Hendon Instagram: @4cornerscfo Facebook: @4CornersCFO References and Resources: CFO2Go Work with Me Metrique Solutions Episode 194 Understanding Your Financials with Melanie Lockert Financial Courses with Michele Williams including "Understanding Your Financials", "Master Your Profit", and "Pricing Without Emotion"

246: Creating Good Financial Systems Joining me today is Kelcee Sparks with Elite Ops, and we are going to be talking about financials. This is always one of my favorite topics to talk about, and so I'm excited to see and to hear the questions that she has for me. Topics Mentioned: Basic financial concepts Understanding your financials Strategic planning Profit First Key Thoughts: The first is I think every business owner should understand their major anchor points, especially from a P&L. What does that mean? It means I think they need to understand revenue, and how money comes into their business. Michele Knowing our financials gives us the ability to know when we are going to do a task, how much more it's going to cost us or save us, and then it also gives us the ability to know if I say yes over here, then I need to say no over here. Michele One I would say really is about creating some type some type of Profit First strategy, which means, first and foremost, watching the money, looking at the money, knowing when the money comes in, knowing how much we need to pay out every month kind of tells me how much I need to be bringing in every month to satisfy that particular need of the company. Michele It's about having a good accounting system, having a time tracking system, and then having a system like Metrique that pulls it all together to be able to look at it. Michele Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me CFO to Go Metrique Solutions Profit First by Mike Michalowicz

245: Investing in Yourself to Build Your Business Joining me on the podcast today is Amanda Scotto, principal designer and owner of AMA Designs and Interiors in New Jersey. Amanda is a client of mine, and she is going to be sharing her journey starting with where she began, some of her early successes and pivots that she's had in her business, and challenges that she's encountered. She is very transparent, and freely shares with us, giving us an opportunity to learn about resilience, planning, and raising our hand when we need help. It was an awesome conversation and I invite you to listen in. Topics Mentioned: Cash flow Investment Growth Pivots in business Key Thoughts: I was always inspired by design and architecture and construction from a very young age. My father and grandfather owned a construction business. I basically grew up on the sites, my mom would drive me to visit, and I would have lunch in the trailer with my dad and grandpa. It was at that point where my grandpa sat me on his lap, and he taught me how to read the blueprints and then he showed me how the sketches became the framework, and the framework became the building. Amanda 2:09 Everybody has to start somewhere. I want to invite you as we take a moment to look back at where you started, let's look back with grace. Let's look back with appreciation. Let's look back without embarrassment. I mean, we all start somewhere. If anybody listening to this podcast hears anything, I want them to not be afraid of their own origin story or embarrassed of their own or even when it takes twists and turns, knocks you down and skins your knees. It's your story and it is part of what has you in the wonderful position that you are in today. Michele 8:24 That is when I started working with you and we've corrected the problem. I made it through. I'm doing so much better than before and now I have the confidence in my numbers. I am a totally different person than I was a year ago. I'm pulling reports. I'm analyzing my numbers. I'm sitting down with my accountant. we're having these educated conversations on making decisions based on numbers, margins, percentages, like all these things that I did not have the competence, or the knowingness and I can actually happily say that I'm getting my new office space soon. Amanda 43:28 I think that's what a lot of people miss is the net profit. They look at net profit and think that's profit, I can take it home or look in the bank account and think is there I've paid everything I can take it home instead of saying but what does that bucket of money need to do in the future and have I set it up to do that? And that's a big question to ask. What is the job responsibility of your net profit? Michele 44:41 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Amanda: Email: [email protected] Website: www.byamadesigns.com Instagram: @amadesignsinteriors Facebook: @byamadesigns References and Resources: Work with Me Metrique Solutions

244: Get Uncomfortable by Choice in Your Design Firm Joining me on the podcast today are Joann Kandrac and Kelly Kole of Kandrac & Kole Interior Designs based here in the Atlanta area. Kelly and Joann have been together for about 18 years, and they do something every year that has just really been inspiring to me. They go on a mission trip to Guatemala to help others in need. On the podcast today, Kelly and Joann are going to share about the process of how they came together as business owners, how they implemented and embraced this mission trip, and how they look forward to it every year. There is truly profit in giving to others and you're going to experience that on the podcast today. Topics Mentioned: Philanthropy Perspective Gap and gain Key Thoughts: But for ourselves to stay safe sane, and to have a good attitude all the time, that is kind of where we come from that we have our heads on straight. I have to say giving back and going to Guatemala and all those things have helped us to maintain that, so we don't get too wrapped up in ourselves and stupid stuff. Kelly 14:58 Yes, I think perspective is a really big deal. Because you need to be reminded, you get kind of on that wheel and if you don't remind yourself, you can get carried away. So, I feel like we do have a really good perspective, we don't work ourselves to the grind. Joann 17:17 So, I think for us working in luxury environments, because it is such a big difference in some cases. Honestly, the longer we stay in our luxury ways and luxury businesses, the more we become accustomed to that, and it's important, I'm not saying any of it's wrong, it's just a very different view. The beauty that I think you have, in your perspective, is you've seen both. Michele 33:30 Get uncomfortable, put yourself in that place, and go help somebody. Let them be a blessing to you because it'll change the way you deal with other people, the way you approach your business, the way you calm your anxieties, and how you are always chasing that gap that ideal that you'll never get and cause you to relax. It'll help you. Kelly 34:29 You know, to look back at that house, it's almost like when we're there, you're kind of on autopilot. You're not sitting here thinking about, oh, I'm hungry, you're just doing it. You're with the group and everybody's doing it and it just kind of happens. It's really amazing. It really is, and I urge people to try to do it. Joann 38:30 I say that because sometimes for people who have never done this, this feels so big and so overwhelming, and like there needs to be so much that happens to be ready. That it really is about creating it the same way as if it is a personal vacation. It gets put on the calendar, you plan up to it, you work around it, and you keep going. Michele 44:48 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Joann and Kelly: Email: [email protected] Website: https://www.kandrac-kole.com Instagram: @kandarckole Facebook: @kandracandkole LinkedIn: Kandrac and Kole Pinterest: @KandracKole Twitter: @KandracKole References and Resources: Work with Me Gap and the Gain Dwell with Dignity Catalyst Resources International Sunshine on a Ranney Day Partly Sunny No Longer Bound Dwell With Dignity Kandrac and Kole podcast

242: Dressing With Confidence in Your Business Joining me on the podcast today is Angela Foster. She is a style coach who is going to help us focus on how to be confident in what we're wearing no matter where we're going, and no matter what our sizes. We can all dress to accentuate our best features. Listen in and learn how. Topics Mentioned: Confidence in dressing for any occasion Tools to shop with confidence Accentuating and minimizing with confidence Key Thoughts: We're starting our day with our own internal mind chatter that is not setting us up for confidence and success and joy and all those things that we need to be who we need to be in our day-to-day job." Michele 8:58 There are also the colors that look best on your skin tone, so we nail those down. This may not be the sexiest part of it, but the thing that makes it so powerful is that when 80% of your closet is in a certain color palette, it makes mixing and matching so much easier. Angela 14:37 Think about it this way, as designers, we would never go in and start specking furniture for a room that we didn't know the sizes of, we would never do that. We would go in, we would know the sizes of the walls, we would know where the doors are, we would know what we wanted to accentuate and what we wanted to minimize, and we would know where we wanted the focal point of that room to be. We would take those measurements, we would create a floor plan, and then start buying furniture pieces of the size and proportion that fit into that plan. That's how we do it. Why do we not do that in our own clothing, I don't even know my current sizes. Michele 40:14 Make a list. Be specific. Know your numbers, know how the brand fits you and I can help with that. Have a list and stick to your list. Angela 44:20 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Angela: Email: [email protected] Website: https://angelastylecoach.com Instagram: @angelastylecoach Facebook: @AngelaFosterStyleCoach LinkedIn: @angelapetitestylecoach Pinterest: https://www.pinterest.com/5047055232cfd4923bc1db5efe6095/ References and Resources: Work with Me Growth Mindset by Carol Dweck Angela's free workbook

241: Creating Space for Your Business to Grow Joining me today is Rasheeda Gray of Gray Space Interiors. Rasheeda started her business 7 years ago as part time and then evolved into full time business ownership. In this episode we will discuss the journey to growing a business and leading a team. Rasheeda shares her lessons learned and you don't want to miss them. Topics Mentioned: Life Vision Goals with connection Process New beginnings Key Thoughts: Everything happens for a reason and so I think my marketing degree, my business sense, and I have an MBA as well, those sorts of experiences and education have sort of prepared me for where I am today. Rasheeda 8:06 We're all on this journey, this life journey, and where we start doesn't have to be where we end. As a matter of fact, I hope that it's not unless it is perfect when we start. But we have the ability to move through it and to try different things. Michele 9:42 It was as simple as profit and loss, and realizing our P&L statement isn't the only part of the story, you also need to look at the balance sheet. That's when I realized, oh, this is where we aren't doing so well. Rasheeda 36:09 It was powerful information and now you can use that information to get what you want on the other side. You can affect change. That's why my tagline is what you own, you can change. Michele 39:50 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Rasheeda: Email: [email protected] Instagram: @grayspaceinteriors Facebook: @grayspaceinteriordesign Website: https://grayspaceinteriors.com/ References and Resources: Work with Me Metrique Solutions Atomic Habits by James Clear E-Myth by Michael E Gerber Clock Work by Mike Michalowicz Good to Great by Jim Collins House Beautiful Whole Home 2023

Joining me on the podcast today is Kelcee Sparks with Elite Ops. She has been with us on previous podcasts where we are answering the questions that you all have sent in and today, we're focusing on processes. We are going to answer questions on how to get started, how to organize and structure your process, where to put your processes, who will help write the processes, and even discuss the importance and the mindset behind a process. Today's podcast has lots of good information and we thank you for joining. Topics Mentioned: Process Creation Mindset KPIs Key Thoughts: One of the things that I love is to have whoever is already in a job, let them document what they do, or their part of the process and then somebody else read it and see if they can do it. Michele 8:10 That's why creating those standard processes is so important because when there is an error, you can go back through your process and understand it and fix it for next time. Kelcee 13:54 The other thing that I would say is to find the processes that matter the most to the success of your company because those are the ones that we really want to try to document as quickly as possible. Michele 24:32 One of the things that I brought into my business from my industrial engineering background was a continuous process improvement mentality. Kelcee 31:16 Until we realize that processes are important to the success of our business, we will not give them time. Michele 36:14 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Kelcee: Facebook: Elite Ops Support Instagram: @EliteOpsSupport References and Resources: Work with Me E-Myth Revisited The Miracle Morning

239: Creating a Vision for Your Life and Business With me on the podcast today is Kathy Geffen of Kathy Geffen Designs and Fine Tune Coaching. Kathy has had an amazing 25-year career in corporate America doing all types of organizational management, started a drapery workroom in 2015, and has recently launched Fine Tune Coaching. We're going to have a great conversation about what it's like to overlap with different areas of business, what makes it so important to be connected to your goals, and to be able to organize them in a way that they can be achieved. There is really great information in this podcast, and I hope you enjoy it. . Topics Mentioned: Life Vision Goals with connection Process New beginnings Key Thoughts: But it was the first time in my life, I could say that I have a goal that I want, and I understand how I have control to get to that goal. Kathy 10:12 In other words, the goal is not just the end result, it's the process of growing and taking baby steps to get there so that if I'm thrown off a little here a little there, say I fall a little short of the goal, I'm not like beating myself up that I didn't meet the goal. Michele 13:17 I want to help the business owner understand how to make their day and their business achieve their goals. Kathy 31:21 When you help that business owner, even create a Kanban Board, and understand the concept behind it, yes, it took some of your time, even if it was 10 minutes, and you didn't even recognize the impact, sometimes those are the biggest impacts when we don't even recognize it. Michele 36:19 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Kathy: Email: [email protected] Instagram: @finetunecoaching Instagram: @kathygeffendesign Website: www.kathygeffendesign.com Website: www.finetunecoaching.com References and Resources: Work with Me Beyond Booked Solid by Michael Port Metrique Solutions

238: Diversifying Your Business With us today is Anastasia Harrison of AHD&CO as well as with AHD Trade. Anastasia is a licensed architect and an interior designer with a primary location in New Jersey. Her business has grown and changed since she first started and we're going to be talking about how it has diversified with a trade-only showroom. Join us and listen in. I hope there are some great takeaways for you. Topics Mentioned: Different Income Streams Internal Growth Coaching Employees Leveraging Relationships don't want an employee for two to three years; I want an employee for life. Anastasia 22:12 From my standpoint and working with you on this, this has been a thought-out process it's been well over a year in the creation. Michele 24:46 We took the time that we were building this space out to have strategic meetings with all of our vendors. Anastasia 27:17 What I hear you saying is when you place the order, we want to carry some of that mental load so that you don't have to carry it. We're going to update you so that you don't have to chase us to get the answer. Michele 33:57 The person building a brand new house, the woman buying a sofa for her client, they're all the same to me. They're all clients, and they deserve the same mission, vision, and values that we have as a firm. Anastasia 34:13 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Anastasia: Email: [email protected] Facebook: ahddesigncenter Facebook: ahdandcodesignstudio Instagram: @ahdandco Instagram: @ahddesigncenter Website: www.ahdandco.com References and Resources: Work with Me Fix This by Mike Michalowicz

237: What Goes in a Strategic Plan Joining me on the podcast today is Kelcee with Elite Ops. She has been with us before and we are going to be doing question and answer time focused on strategic planning. We look forward to your questions so please continue to send those in to us at [email protected]. Topics Mentioned: Strategy Planning Metrics Key Thoughts: Anything that we're close to, we see more clearly than things that are far off like that. If we can just hold that image for a minute, and then think about planning, anything that is really close to us, we can see more clearly anything that's further out takes longer. Michele 3:54 The thing about a strategic plan is you want to plan it so that it's detailed enough to be a path to move you closer to where you want to get but not so tightly that you can't move and that you can't adjust or be fluid with the needs of your company at that time. Michele 7:19 I don't think that it's possible to create a detailed plan without some idea of how to market. Michele 20:34 I prefer in a strategic plan to have high-level key performance indicators, that these are the things that I'm going to measure to see if I got there. Michele 23:22 The more we set up a plan for success, the more likely we are to succeed. Without a plan at all, the more likely we are to fail. Michele 31:06 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me

236: How to Work with a Tax Strategist with Shauna Wekherlien On the podcast today is Shauna Wekherlien, lovingly known as the Tax Goddess. Shauna is in the top 1% of tax strategists in the nation. Her clients employ the tax strategies she recommends and her firm has an average of 6.9% tax rate. We are going to have a great discussion about taxes, how CPAs and strategists work together, and about the IRS Dirty Dozen. Topics Mentioned: IRS Dirty Dozen Captive Insurance Write your dog off on your taxes Augusta Rule or Masters Exemption Aggression Scale Key Thoughts: I am all about making profit, but I'm also all about you keeping it, for whatever reason you want to use it. 9:56 Shauna I usually tell my clients, my goal is to take you as close to the edge of what the tax laws say, without pushing you over. 10:45 Michele Every strategy has a good version of a strategy and a bad version of the strategy. 17:06 Shauna When we make some of these decisions with our tax strategist, we also need to realize that some of these decisions are not one-year decisions, they are decisions that have a longer-term implication. 27:20 Michele You have to be surrounded by a team that matches who you are because you are you, you are the client, you are the center of the focus of the world, from that standpoint of the team that is focused on you. 47:26 Shauna I think that's so important because sometimes when we're talking finances and taxes, it feels hairy and scary and nasty and there are parts of it that really are not going to diminish that, but it also is something that we can get our arms around if we have the right people in our team. 51:19 Michele Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Shauna: Email: [email protected] Websites: https://taxgoddess.com/ LinkedIn: https://www.linkedin.com/in/taxgoddess/ Facebook: https://www.facebook.com/thetaxgoddess Instagram: https://www.instagram.com/thetaxgoddess/ Twitter: https://twitter.com/TaxGoddess Youtube: @TaxGoddess References and Resources: Work with Me Profit First by Mike Michalowicz

235: How to be Eternally Optimistic about Your Finances with Matt Drinkhahn Joining me today is Matt Drinkhahn of the Eternal Optimist Podcast and Pro Coach Advisors. Matt is full of information, enthusiasm, and excitement about understanding our numbers, especially surrounding financial literacy. Matt is going to share about his journey including some of his embarrassment at not knowing his numbers and then harnessing the power behind those numbers to scale and grow businesses. This is a fun enjoyable conversation, and I invite you to listen in and take notes. Topics Mentioned: Financial Ownership Overcoming Shame Financial Literacy Optimism Key Thoughts: I think sometimes we're so used to learning by only getting it right and not a lot of learning comes from failure. The older I get, the more I'm embracing failure as a learning tool. 10:18 Michele The question is what am I going to do today that my future self will thank me for? 13:40 Matt Now you have a lot of women who are in companies that are making multiple millions of dollars, and they don't even have the background, because they've just never been taught that. 19:53 Michele I just want my story to be a testimony for others that it may feel like a dark place and maybe a stressor, you can get over that you can make it through one step at a time. 22:55 Matt My whole theory behind the podcast is profitability is about more than money. It's profitability of communication, the profitability of time, of energy, and of the whole thing. 31:41 Michele One of the biggest challenges that I see in recovering perfectionists and highly functioning workaholics is they don't know how to let go and they don't know how to delegate effectively. 43:07 Matt Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Matt: Email: [email protected] Websites: www.proadvisorcoach.com and www.eternaloptimistpodcast.com LinkedIn: Matt Drinkhahn Facebook: Eternal Optimist Podcast Instagram: @EternalOptimist Podcast and @CoachDrink Twitter: @PodcastOptimist and @MDrinkhahn Youtube: Eternal Optimist Podcast References and Resources: Work with Me Metrique Solutions Failing Forward by John C. Maxwell Profit First by Mike Michalowicz Michele's 3 Financial Courses Simple Numbers, Straight Talk, Big Profit

234: How to Manage My Money in My Firm Joining me on the podcast today is Kelcee with Elite Ops. She has been with us before and we are going to dig into some questions all around the financial aspects, kind of the manage your money, and my program. Thank you for sending in your questions and please continue to do that as we continue working through this series. Topics Mentioned: Pricing Cash Flow Billing Strategic Plan Thoughts from Michele: We can't measure everything all the time and need KPIs for measuring what is most important. KPIs can be determined by knowing the goals your firm has for each quarter and measuring to the goals consistently. Build SOPs to support your measuring goals. Charging to grow allows for growth and reinvestment in your firm. Having a strategic plan is crucial to grow your business. Create a plan then build your time and money based on that plan for profitability. If you don't know where every dollar goes, you don't know how that time is going to be spent then you need to halt and think about what you're doing. Know your process. Look at your business in cash and accrual. See the 360 view of your business. To protect what you are building, you need three to six months of a cushion to carry operating expenses. Change allows us to get something different. Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Profit First by Mike Michalowicz Click here to send questions for Michele Metrique 1-month free code: 1mofree

233: How to Remove Summer Stress Every year around this time when my kids were young, I would be thinking about how we would handle our summer plans. Which camps were they going to and when? How could I have a more relaxed schedule at work while moving projects along but also being mom? Maybe you don't have kids, but do want a more relaxed summer schedule – no matter what, listen in to this episode originally recorded in 2019. The lessons in time management and project expectations still apply. Topics Mentioned: Delegation Fractional Support Accidental Business Owner Systems Thoughts from Michele: Our industry is heavily saturated with women. We cannot do it all at the same time. Something has to give. You have to be upfront with your clients with what your summer plans are. We have to have realistic expectations. We do not want to make a decision in a vacuum. There are always trade-offs with whatever decision you make. Try to be as creative as you can. You do not have to do it the way I did it. Do what works for you. Anytime you stop marketing your business, it can take us 3 to 6 months to gain back your footing. Make a plan based on choices and decisions. Commit to the plan. Work the plan. Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting PIAC EP. 05 - Shame - Listen Today Master Your Profit™ - Enroll Today The Designers' Inner Circle - Become a Member Today!

Joining us today is Shayna Rose of Shayna Rose Interiors and 4DBiz. Shayna turned a tragic event into a new business model that changes how interior designers run their business. Listen in as we discuss the hallmarks of overwhelm and how to get the help you need to run your business and reclaim your time. Topics Mentioned: Delegation Fractional Support Accidental Business Owner Systems Key Thoughts: I always like to say my success has failed upwards. Everything has been created around a failure and it's the best thing you can go through when you hit that problem, whether it's working with a client, whether it's integrating an E-commerce, whether it's trying to build new avenues of business, or a team, you have to learn some way. Shayna Rose (11:37) Because the payoff is the only way to reclaim time. This delegation is super important because that's how we reclaim our time to do what we can do best. Michele (29:26) What's your retirement plan? Hopefully, it's the sale of that business. Hopefully, you have operations outlined, a system of procedures outlined, how you're obtaining clients, and how you're controlling those clients. Shayna Rose (36:01) We can be our worst enemy and we're the ones that get in our own way. I want to encourage you to recognize that and ask for help. It doesn't have to be that way. Michele (45:04) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Shayna: Email: [email protected] Facebook: 4Dbiz Website: 4Dbiz.com LinkedIn: 4Dbiz YouTube: @4dbiz761 References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Profit First by Mike Michalowicz Clockwork: Design Your Business to Run Itself by Mike Michalowicz Toilet Paper Entrepreneur by Mike Michalowicz The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E Gerber Failing Forward: Turning Mistakes into Stepping Stones for Success by John C. Maxwell

231: Q & A with Michele Today I have with me Kelcee Sparks, who is with Elite Ops Support. She has a team of people that support designers and other industries with operational support, VA support, and she also provides operations support for me personally. She's going to ask me some questions today so that we can share a little bit more information on some of the questions that you all have been sending in and have asked. Enjoy the podcast. If people want to send in business questions please continue to send them in, we'll answer them. The majority of the podcasts that we are putting out are because people have asked questions and either we answer them in my solo podcast, or we go find somebody who can talk about it. If there are topics and ideas that people want to share, I'd love to hear them. Topics Mentioned: Build a solid foundation Allow for growth Work on being centered not balanced Ask for help Key Thoughts: Know your own why, know your own values, and give yourself space to evolve and grow in your life and your business. Michele 15:10 We can do it all, I just don't think we can do it all at once or without help. Michele 18:53 I'm all about delegating, and not dumping, but how can I push the work to a different level in my company where it can be done well and support the brand. It doesn't always have to be the owner. Michele 25:57 Know who you are, know what you want to do, know where your deal breakers are, know what you won't do, and then just build a business that you love, and then get help doing it. Michele 36:12 Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Clockwork: Design Your Business to Run Itself by Mike Michalowicz Who's In Your Room by Misner, Emery and Sapio

230: Become Your Own Banker to Control Your Finances with Mark Willis Joining me on the podcast today is Mark Willis. He's the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Mark is going to lead us on the journey of understanding our financials better. We're going to be looking at how to be the bank for our company, what it means to take back ownership, money, and lending instead of being a slave to the banks or to somebody else holding a note over our head or having so much debt that we don't know how to get out from under it. Mark will share stories and give us methodologies and mindset changes so that we too can be in full control of our finances. Topics Mentioned: Cost of Debt Building Wealth Money Mindset Generational Wealth Key Thoughts: That became my mantra, I want to be better than debt free. And so, as a financial planner, now, I help people become better than debt free. I have since paid off my debts. But more than that, I bought them back by becoming my own banker, paying the student loan snakes off, and actually collecting that money from myself to get a profit off the debt that I once paid to somebody else. Mark Willis (6:03) It's kind of the Profit First dilemma that we see all the money sitting in the bank account, and they just start taking it. What they've done in essence, is they rob the company coffers to live a lavish lifestyle, to go on trips to fix up their house, to do whatever, to pay a medical bill. I don't care what it is. But they took it from the business prior to when it should have been taken. And now the business is running lean, and they're struggling. And it was the entire lifeblood to build their life and they just destroyed the lifeblood. Michele (23:23) When you have the bank, you control the whole card table. Imagine how this would work in almost every business. Mark Willis (42:07) Today has been all about taking back control. And I want to encourage you to do that. Because if you own it, you can change it. And that's the beautiful thing about profit. We're building it. Michele (50:09) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Mark: Email: [email protected] Website: https://lakegrowth.com/ Instagram: https://www.instagram.com/notyouraveragefinancial/ Facebook: https://www.facebook.com/lakegrowth LinkedIn: https://www.linkedin.com/in/marklakegrowth/ Twitter: https://twitter.com/LakeGrowth References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Debt for the First 5000 Years by David Graeber Profit First by Mike Michalowicz

229: The Journey of Buying a Business with Julie Murphy With us on the podcast today is Julie Murphy. Julie is the Owner of Designer Draperies of Boston, a full service to the trade workroom. She began as a home-based business in 2006. In 2014 she purchased Designer Draperies of Boston and merged the 2 businesses. She has tripled the size of her team as well as sales since transfer of ownership. She attributes her growth and continued success on 3 things: Quality, Effective Communication and Exemplary Customer Service. Today we will focus on her journey to make a business acquisition – the highs and the lows. Topics Mentioned: Purchase type Policies and Procedures Employee retention Support Teams Thank you for joining us today. If you have questions about purchasing a workroom, feel free to reach out to Julie. And if you want to get your business pulled together – not just to sell – but to enjoy the benefits of a well-run business for yourself, sign up for a discovery call at scarletthreadconsulting.com. Choose to be organized which leads to profitability – because profit doesn't happen by accident. Key Thoughts: I wished I had reached out to somebody, at some point, and waved my white flag, and said, I need help in figuring out how to deal with business growth. Julie Murphy (45:59) I still talk to clients and people all the time that are using pen and paper and I get it or they're using Excel to run all of their financials. I get it. I did it too, for a couple of years, until I realized that as you said, I could not get reports. I could not see where I was, I couldn't understand the impact or the cash flow or any of those things, what was happening truly happening at a glance, even if I was keeping up with those details to hand off to my accountant in a year. They were not helping me manage the day-to-day of what I was doing. I mean, that's the whole reason that we've even built Metrique is to take all of that data and to be able to put it in one place to look at it because there is knowledge and power in looking at those things. Michele Williams (48:38) I would say really look into what the business has for documented procedures. The other thing that I'm running into too, is what's in place for your staff, human resource-wise. As a small business, we don't have to have certain things. Even if you have three employees, I think it's important to make sure that you are doing everything that you're supposed to be doing. Julie Murphy (54:00) The more you document, the more you keep up with your financials, and the more you show that you're able to be paid and then the beautiful thing is if you can show that growth, that continual growth year over year over year, even at 10%. Michele Williams (57:54) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Ericka: Email: [email protected] Website: http://www.designerdraperiesofboston.com Instagram: @designerdraperiesofboston Facebook: @designerdraperiesboston References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting

228: Why Attending Industry Events is Profitable with Michele Williams How many of you go to an industry conference at least once a year? On our podcast today, I am just returning from the International Window Coverings Expo. And I'm going to share with you 10 things that really stood out to me while I was there. Topics Mentioned: Industry Events Learning Travel Key Thoughts: Not everyone is looking for the same thing. Authentic connection requires you to block out the noise in the room to ask questions and listen. Real business decisions are made. Energy and excitement for the possibilities is create and restored. Not everyone thinks alike – you will find some like you and some very different. Laughter in the course of doing business is good medicine. Friendships that are made at these events can be very real. Vendors want to help us. There is as much education over dinner or drinks as there is in a classroom or on the vendor floor. These are important events to attend. Scarlet Thread exists to support business owners in closing the literacy gap in their business. We accomplish this through this podcast, our blogs, educational resources, coaching and Metrique Solutions. If you want to talk about your business and your goals – sign up for a discovery call at scarletthreadconsulting.com. Choose to be profitable – because profit doesn't happen by accident. Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting

227: Using Your Past to Create Your Story with Ericka Saurit Joining me on the podcast today is Ericka Saurit. She is the founder of Saurit Creative, which is a boutique brand marketing agency. This is really going to be such a fun discussion. We're going to talk about story, leaning into your story and inviting people in. Ericka has such an honest and curious approach. I love that. I really think you're going to learn a lot not only about your brand and marketing, but about being able to invite people in to share your story and to feel a part of it, and to use words and emotions to do that. Enjoy the podcast. Topics Mentioned: Brand mindset Emotional connection Curiosity Business values Key Thoughts: Even the best ideas, even the very best interior design will not matter if you can't present it, if you can't sell it to your client, if you can't sell the right story. Ericka Saurit (12:46) I'm happy that we can make use of our varied experiences, to live out what's in our heart and the joy that it brings us in doing what we do. It is something that has been able to carry forward. Pulling all of the things together, the love of numbers, the way you tell stories with words, I can tell stories with numbers, I can look at them, I can see what they're showing you. I can tell you where it's going to go, I can tell you how it's going to play out, I can tell you the changes we need to make to change the story. It doesn't have to stay that static story; I can tell you how to immerse yourself into the financials. Michele (22:14) Creativity doesn't have to manifest itself as like an artist or musician or writer, like, I think some of I mean, you'll, you know, this, like some of the most brilliant minds, in finance and in math, and in physics, and in any kind of, like, any industry, creativity is essential to innovation. Ericka Saurit (25:53) Whether we're making a marketing decision, a hiring decision, a process decision or a financial decision, it must be in alignment with why you're here and what you're trying to do. Michele (39:29) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Ericka: Email: [email protected] Website: Saurit Creative Instagram: @sauritcreative LinkedIn: Ericka Saurit References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting

226: Using Strategy to Inform Your Marketing with Brooke Chapman Joining me today is Brooke Chapman. She's the executive director of Three by 3 and Nine Boxes. Brooke has a proven track record in helping small businesses really create a strategy around their marketing. Today we're going to be talking about strategy versus tactics in your business with regard to marketing. Brooke uses a phrase that made me laugh, she calls it random acts of marketing. That's when we're just doing tactical work instead of strategy work. So listen today and see if there are some changes that you can make to your business to be more strategic. Topics Mentioned: Strategy vs. tactics Market position Clarity in messaging Buying triggers Key Thoughts: When we think about marketing tactics, it's channels, it's your website is, you know, the suite of brochures that you're handing to clients. It's your social media pages, it's the campaigns that you run through Google. But if we think about what strategy is, it's really about understanding your market position and your differentiation from your customers. Brooke Chapman (5:31) It is so difficult for me or any of my team to guide clients to move forward to even find the right marketing strategist to work with if we don't know who they are. That foundation serves as the backbone for everything, not just to build your business strategy. Michele (7:06) Can you afford not to be in the market and be in business today without clarity? Because if you're not clear, your customers are not going to be clear. Brooke Chapman (8:22) I think that's what's so interesting about strategy versus tactics. With everything shifting and changing, if we don't have a view of the overall strategy, we can sometimes get twisted up with those tactics, then we're spending money where we shouldn't. Michele (32:54) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Brooke: Email: [email protected] Website: Three by 3 Instagram: @designer.elite.co LinkedIn: Brooke Chapman References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Get Your Score

225: How to Determine When to Raise Rates and When to Absorb Costs WITH MICHELE WILLIAMS As a business owner, one of the biggest challenges you face is managing your pricing strategy in response to fluctuating costs. Pricing is a crucial element that can determine the success or failure of a company. On the podcast today we will explore how to manage this in your business. Topics Mentioned: Cost management Brand promise Pricing structure Strategy Key Thoughts: Setting the right price for products or services is essential to ensure profitability, but sometimes external factors can lead to higher costs that may require a company to make tough decisions. Michele (1:03) When you begin to incur higher costs as a business owner, one viable option is to adjust pricing accordingly. Increasing the price of products or services can help offset the additional expenses. Michele (1:59) When facing higher costs, you have the option to absorb the additional expenses and reduce profitability. This can be a difficult decision, as it may lead to short-term losses, but can lead to long-term benefits. Michele (3:59) There is a sweet spot for every business which might mean a minimal increase in pricing along with internal expense reduction strategies to mitigate loss of profitability. Michele (5:25) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: Scarlet Thread Consulting Metrique Solutions Sign up for a Discovery Call

224: Delegating to Free Your Time with Dominique Deraiche Joining me today on the podcast is Dominique Deraiche, with Designer Elite. She is a co-founder of Designer Elite, which provides Operations and Support for interior designers. Dom and I are going to have an awesome conversation on how to get help, how to determine when we're in overwhelm, and how to ask for support and delegate without dumping. Enjoy. Topics Mentioned: Delegate Virtual assistant Overwhelm Key Thoughts: It's very hard to say that we're process driven because everything's so custom, and it is custom. But having a process to work within then allows us the freedom to be so creative. Michele (4:32) Some of the ways you could determine that you really need to reach out for help is if you have a huge to-do list. There are pieces of your business that are slipping through the cracks, you're pushing out projects because you're just so overwhelmed. Maybe you're completely turning away projects. These are all key indications that you should be reaching out for help and delegating some. Dominique Deraiche (9:25) One of the ways that I suggest preparing to make it work with a virtual assistant is having an idea of what it is we think we need. Michele (17:22) I always set the expectation, that we need to hire the right amount of people who are going to be specialists in these various areas. It's really rare to find one person who can mold themselves into all aspects of your business. Dominique Deraiche (23:16) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Dominique: Email: [email protected] Website: http://www.eliteopssupport.com/ Instagram: @designer.elite.co LinkedIn: https://www.linkedin.com/in/dom-deraiche-65aa09240/ References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Ep 135 How Successful Interior Designers Delegate to Their Team with Michele Williams

223: Functional Fitness for the Health of your Body and Business with Barbi Burris Joining us on the podcast today is Barbi Burris. Barbi is the owner of Full Well fitness and has a signature program the Well Stretched Life. She is a Christ follower, a flight attendant, a certified fitness instructor - she does all the things. She knows what it's like to have a very busy life and to try to work in being fit at the same time. And you know, that's the life that many of us have, we're really, really busy. We need to take care of ourselves. Our conversation today is going to be centered on how we can take fitness and put it into our life in doable doses and why that's so important. Welcome to the podcast. Topics Mentioned: Holistic fitness Strength and Stretch Doable Dose New Habits Key Thoughts: Whether you're sitting or you're standing, we all have jobs or lifestyle factors that we're doing repeated movements. Barbi Burris (7:23) I want to go and not have to think about it. The truth of the matter is, I'm still thinking, and that's what Pilates and you have taught me is that I'm not going to make you think Michele in this moment about the movement, but I want you to be reconnected to your body, I want you to think about your body. Michele (15:23) In order to get to where you want to go, you have to be able to change in the moment, what you're doing to meet that angle. And they change as we get older because our bodies change. It's that awareness factor. And I do teach that and I call it ABCs. Awareness before change. It is that connecting brain and body and being aware so that you can get to that profit line that you need, so that you can do more of what you love. Barbi Burris (17:17) Awareness of what's happening around us awareness of how we feel awareness of our team, right just that awareness. And then gives us such information and input to make the next decision. Michele (29:51) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Barbi: Email: [email protected] Website: Full Well Fitness Facebook: Barbi Burris Instagram: @barbiburris References and Resources: Work with Me Metrique Solutions Scarlet Thread Consulting Rise and Shine Guide - Barbi Burris Ep 40: A Strong Core for Body and Business with Kolleen Losch

222: Quiet Quitting in the Workplace WITH MICHELE WILLIAMS Have you heard of quiet quitting? Maybe you have seen or felt it in your business or when speaking with a colleague. Quiet quitting is defined as an emotional quitting instead of physically doing so. On the podcast today we are exploring quiet quitting. What it is, how it occurs, how to spot it and hopefully stop it before it escalates. Topics Mentioned: Disengaged Lack of motivation Employee health Connected workplace Key Thoughts: Quiet quitting is a thing! And we are seeing it more and more in the workplace. It is defined as emotionally quitting – tapping out, all while physically still coming in and doing the job. Michele (1:13) Every person on the team should know the high level of what the business does, why it does it, who it serves and how their job fits in. Michele (1:58) Quiet quitting, when hitting its peak, can show that expectations are out of control and that team members are demanding a realignment. Michele (6:37) One of the best ways to reduce quiet quitting is to have one meaningful conversation each week with each employee lasting 15-30 minutes. Michele (7:30) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: Scarlet Thread Consulting Metrique Solutions Sign up for a Discovery Call

221: Niching in Your Design Business From the Start with Kaitlin Brophy Joining me on the podcast today is Kaitlin Brophy with Brook and Elm. What I love about the conversation that we're about to have is that it's going to be focused on creating a niche company from the very beginning, using skill sets from a prior career, and also just building a business with intentionality. So I hope you enjoy the podcast. Topics Mentioned: Niche Outdoor design intentionality Building in a season Key Thoughts: I learned from listening to a podcast that there is a real benefit and importance to niching in your business for setting yourself apart. Kaitlin Brophy (6:03) I wanted to be able to be kind of a whole person in that I needed to have some type of outlet to express my creativity and my desires. But I also wanted to be that mom and I wanted to be a wife and I wanted to be able to go pick them up at preschool or do whatever I needed to do. Michele (9:35) One of the things that was easy for me to translate into the businesses that I've created are those operations and procedures all the way back from building software. Michele (14:07) I think the pandemic taught everyone how important is to have outdoor spaces that they want to spend time in and really make fun and functional. Kaitlin Brophy (22:47) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Kaitlin: Email: [email protected] Website: Brook and Elm Instagram: @brookandelm References and Resources: Work with Me Metrique Solutions Profit First by Mike Michalowicz E-Myth by Michael Gerber

220: Selling Authentically in Your Design Business with Nikki Rausch Joining me on the podcast today is Nikki Rausch. She is a sales coach and trainer and author and a speaker. And she talks about authentically moving people through a sales process. I'm so excited to have her on. She has her own podcast, The Sales Maven. So make sure you check that out and welcome to the podcast. Topics Mentioned: Creating a sales progression Create curiosity Closing the loop Power of silence in the sales process Key Thoughts: The goal in sales is to match a need with an offer. Then if we have the solution, we offer it. Michele (3:13) Sales is actually something you do with people. It's a collaborative experience. Does this person have a need? And if they have a need, do I have permission to put a matching offer in front of them so that they can make a decision as the adult that they are, whether or not it's the right next step for them. Nikki Rausch (4:26) The more transparency and the more relationship you build in the sales process that carries forward into the actual work with that particular person. Michele (29:04) When you don't issue that close language that is involved with the proposal, if you say, I'm going to send you the proposal, why don't you take a look at it, and then let me know what questions you have. Then we can circle back later, you have essentially just said to this person, add me to your to do list. When you add yourself to somebody's to-do list, the chance of you ever making it to the top is slim to none. Because they have decision fatigue. Nikki Rausch (35:53) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Nikki: Email: [email protected] Website: Your Sales Maven LinkedIn: Nicole Rausch Facebook: Your Sales Maven Instagram: @nicolerausch References and Resources: Work with Me Metrique Solutions How Strategy Informs Your Decision Making - Sales Maven Podcast with Nikki Rausch and guest Michele Williams Closing the Sale Ebook by Nikki Rausch

219: Benchmarks for the Interior Design Industry WITH MICHELE WILLIAMS Here is a question I get repeatedly when someone shows me their financials, "Is this good?" While many may be good judges of great design – being a judge of great financials can be a bit more difficult if you don't know what you are looking at or how to compare the numbers you are seeing. In this podcast I will share some benchmarks for financials in the Interior Design industry – and in healthy businesses in general. Topics Mentioned: Benchmarks Financial markers Trends Key Thoughts: Remember that the numbers are just that – indicators. If we don't like them – then we need to change the decisions that created them. Michele (2:15) Cash flow is hitting a hiccup due to delays and problems in the installations. Learning to manage the flow of cash in and out of the company will be most important for this upcoming year. Knowing your monthly "nut" and preparing the work to cover that financial nut is imperative. Michele (8:37) It is important to recognize that these are healthy percentages for companies and to be used as a starting point for comparing your company. Perhaps you have made other decisions to move your money in another direction. At a minimum, know what your tradeoff is. Michele (11:46) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: Scarlet Thread Consulting Metrique Solutions Profit First by Mike Michalowicz Understanding Your Financials® Profit is A Choice® podcast with Michele Williams Financial Health Check Up Metrique Solutions™ Sign up for a Discovery Call

218: Strategies for Hiring Well in Your Interior Design Firm with Jamie Van Cuyk Today we have Jamie Van Cuyk. Jamie is a hiring strategist, a podcast host, and a speaker. And today we are going to dive into all things hiring. I know that hiring a team has been very difficult for many of you, you've probably had some starts and stops along the way. You're wondering what the next right hire is, how to make sure you're choosing the right person. And that's the conversation that we're going to dig into. So welcome to Jamie Van Cuyk. Topics Mentioned: Interviewing Skills Strategy to Hire Choosing a Candidate Key Thoughts: I've beI learned how to really identify who you need for that position, versus who works well for this title. Jamie Van Cuyk (2:54) When I am looking at hiring somebody, I care more about a couple of things. After you get past where you fit into the culture and into the values match, I'm really looking for things like, your critical thinking abilities and I want to understand your ability to prioritize work. Because if you can think critically, and you can prioritize work, and you fit within the value structure, I can usually work with you. Michele (15:55) When I first started interviewing one of the mistakes I was making that now I coach all my clients on before they go into that first interview is I would ask the question, and then I would keep talking. Almost like, let me guide you exactly to what I want to hear. And then I realized that I was doing that because I thought the candidates needed that in order to feel comfortable answering my question. Then I learned, ask the question and shut your mouth. Do not say anything else. Jamie Van Cuyk (24:17) It really is true that we need to hire slowly and fire quickly. Michele (35:59) There are four signs that to look for in your business to see if you really need to hire and I encourage you to look at the signs, or look for the signs about once a quarter, because it's so easy to get overwhelmed. The first is, you're saying no to your ideal customer. The second is you're losing customers due to poor customer service. The third one is you can't expand your time, you just have to focus on what you're currently doing in your business. And then the fourth one is that you don't have a certain skill or expertise needed. Jamie Van Cuyk (42:22) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Jamie: Website: Growing Your Team LinkedIn: Jamie Van Cuyk Facebook: Growing Your Team Instagram: @growingyourteam Pinterest: Jamie Van Cuyk Email: [email protected] References and Resources: Work with Me Metrique Solutions

217: Aligning Your Values with Your Daily Actions with Sandra Halling Today we're going to be talking with Sandra Halling. And Sandra describes herself as a recovering corporate consultant turned anti-hustle, pro-equity, productivity coach. We're going to be discussing all about listening to ourselves, having an awareness, and then creating some opportunities to protect ourselves while we're also building our firms. And so it was just such an awesome fun conversation, but also one that helps you think deeply about caring for yourself and caring for your business so that you can care for your clients. So enjoy the podcast, and I'm excited to have Sandra with us. Topics Mentioned: Future Identity Worthiness Intention Professional Balance Key Thoughts: I've been working through a process of understanding what it really looks like in a regulated mindset. To be strong and kind. At the same time. Michele (4:26) The thing that I like to offer as a practical aspect of buffer time is that I think it comes in different flavors. If there's the buffer that we're talking about, which is space before and after vacation, that's one version of it. Another version of buffer is the space between meetings. For example, with podcast interviews, I always put 30 minutes of buffer before, so that I have plenty of time to just get myself settled, make a cup of herbal tea, grab a notebook and just be really ready and centered when the interview starts. Sandra Halling (12:53) I think one of the big things that we've actually been talking about or talking around without naming exactly, is being intentional with ourselves, right, because we first have to be intentional with ourselves to be intentional with our business. Michele (21:35) Goals, to me, are outcomes. They're metrics, they're clear, they're specific, you know when you've got them. Whereas a state is an emotional state. It could be something like I am brave or I am conscientious. Sandra Halling (24:23) The other piece that you mentioned, connecting from the head to the heart is, I believe that worthiness, enoughness, and empowerment are inside jobs. Nobody can give that to you. You have to give it to yourself. Sandra Halling (29:09) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Sandra: Website: Feel More Productive LinkedIn: Sandra Halling Email: [email protected] References and Resources: Work with Me Metrique Solutions Atomic Habits by James Clear Begin With The End in Mind for Your Design Business EP 110 with Michele Williams

216: Starting the Year Well with Michele Williams Usually, we talk about ending a year well. What could it look like to start the year well? Hang with me as we consider what could make our year begin well. Topics Mentioned: Intention Ease Profitable Key Thoughts: To be honest, sometimes I really get caught in the tension of wanting to start the new year, but at the same time, not really wanting it to come, usually, because I'm looking ahead, and I'm taking it all in. And all I can think about is all the things that I need to do, the big goals that I want to achieve, the strategy that I've set. I'm excited, and I am almost afraid or fearful of the time it's going to take, the effort it's going to take, and what's going to happen. Michele (0:58) I am trying to get into a really good habit that if I add something new, I take something away. Michele (2:45) Number three is to focus on one quarter at a time, again, not on the entire year, but on a small subset. Michele (3:44) The seventh thing that I'm going to try to do this year is to really be easy on myself, as an owner of a firm, we carry a lot of weight, a lot of responsibility, we're making a lot of decisions. And so that just carries such a weight that we almost feel like we can't make a mistake or a misstep. Michele (8:12) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: Scarlet Thread Consulting Metrique Solutions Traction by Gino Wickman 12-Week Year by Brian P. Moran and Michael Lennington

215: Hardship is a Great Teacher in Your Business with Ceil DiGuglielmo On the podcast for our yearly review and process session is Ceil DiGuglielmo of the Sew Much More podcast. This is a joint podcast that we love and look forward to each year. This year we seemed to really look at our personal lives and how they intermixed with our business lives a bit more. Also, listen in to hear the one thing that we both struggled with this year that we have enjoyed so much in the past. Topics Mentioned: Proud moments Reading Lessons Learned Rest Key Thoughts: It also made us realize what's most important in our life. And in our family. It's just always that reset button. Then it also made me thankful for the business that I've built, and the processes that I have, so I could take a step away for a week or so. Michele (7:34) My job is not my whole life. Most of us started our businesses for that reason, we wanted to work it around our lives. So where did we lose our way that the business is controlling our life? Ceil DiGuglielmo (14:30) I had to and still am having to learn how to navigate that with joy, and with calm and even when it doesn't feel calm. And how to be curious, and how to be kind and soft, not hard hearted, and irritated and angry and frustrated when my plans keep getting disrupted. Michele (17:27) There are also a lot of us who are the parents of adult children, and there are times we have to stop everything, being a teachable moment because our children have become adults. But I also think that our children learn from us when they see us in difficult circumstances. Ceil DiGuglielmo (23:55) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Ceil: Website: The Sew Much More Podcast Website: The Curtains and Soft Furnishings Resource Library Facebook: The Sew Much More Podcast Facebook: The Curtains and Soft Furnishings Resource Library Instagram: @ceildi Instagram: @csf_resource_library Email: [email protected] References and Resources: Work with Me Metrique Solutions

214: How to Easily Create a Strategic Plan for Your Design Firm with Michele Williams This week we're rerunning episode 131 of the Profit Is A Choice podcast, "How to easily create a strategic plan for your design firm." This is an awesome topic that we processed through a couple of years ago. And I will say to you, it is still relevant and it's something that we work on and focus on in Scarlet Thread Consulting all the time. I want to encourage you as you wrap up this year, and get ready for next, that you take the time to consider your strategic plan, what it might look like, and how you can improve upon it from moving forward. Topics Mentioned: Vision SWOTT Milestones Goals Key Thoughts: A strategic plan, simply put, is a document that tells where a company or organization is going. Consider it your road map for traveling into the future with your business. Michele (4:54) Part of the beauty of creating a plan is having an idea of where you are going so you can plan in advance. Michele (10:24) Every company has a limited supply of resources. These resources can be time, money, and people. Knowing how to spend each of these gives us an advantage. Michele (15:40) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: The Designers' Inner Circle - Become a Member Today Traction by Gino Wickman 12-Week Year by Brian P. Moran and Michael Lennington 6 Pre-Planning Tips for Your Design Year - EP 116 with Michele Williams 4 Year-End Steps to Prepare Your Interior Design Business - EP 118 with Michele Williams Year End Planning for HR, Marketing and Finances for your Design Firm - EP 121 with Michele Williams 5 Reasons Successful Interior Designers Use a Strategic Plan - EP 129 with Michele Williams

213: Is Your Workplace Toxic? with Michele Williams Do you know how to define a toxic workplace? Are you the one bringing the discord into the office or is someone else? Maybe you are looking for a job and want to know what to steer clear from. Today, we are going to talk about what makes a workplace feel yuk – and how to spot areas for improvement. Topics Mentioned: Bullying Belittling Anxiety Fear Key Thoughts: It is possible for even the healthiest of companies to have some dysfunction, just like any family or group of people. However, a toxic environment is even more than generalized dysfunction – it is harmful. Michele (1:11) Toxic work environments can be created by the owners and managers or by the employees. What is most important is that these attitudes and actions are recognized and stopped immediately. Michele (3:31) Creating a company that others want to be a part of takes intention. That is what we focus on so much on this podcast – profitability by intention. Michele (6:34) Just because your environment is toxic now doesn't mean it must stay that way. And just because it is safe doesn't mean it won't become toxic. Michele (8:15) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL References and Resources: The Designers' Inner Circle - Become a Member Today The Five Dysfunctions of a Team by Patrick Lencioni

Tax Deferral and Risk Management for your Company with Ed Bryan It is not often that I get to dive into a topic that is totally foreign to me when we start the podcast. Usually, I have heard something about the topic and have a little knowledge. The 831(b) plan was a new thing – and Ed Bryan joins me to help us understand this tax deferral and risk management opportunity. Topics Mentioned: Insurance Tax deferral Risk management Plan Key Thoughts: It's like traditional insurance. But what you're doing is building up this money, we always say with the 831B plans, they're not worth anything when we set them up. There are no funds, and there are no assets in there initially, but after two, three, four, or five years, these things have the potential to be worth millions of dollars. Ed Bryan (15:42) I think that would be important to know how you are taxed in order to determine how much you're trying to put into an 831B plan, whether you're really trying to use it for long-term savings in some ways, or if you're really using it to mitigate risk. Michele (27:22) We've seen a significant upswing in the last three to five years in business owners looking for real cybersecurity insurance that covers things like phishing, social engineering, and those types of things. And we're seeing a lot of pressure there, because unfortunately, people that are attacking, especially those, those hackers and cybersecurity criminals, they know that small to midsize business doesn't necessarily have the awareness in the cybersecurity that a fortune 500 company does. Ed Bryan (31:55) Even in my coaching and consulting practice I work with my clients, I'm talking to their accountants with them, I'm talking to their bookkeepers, their financial analysts like we're working together, because everybody has a piece of the puzzle. Michele (35:47) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Instagram: @MetriqueSolutions Website: ScarletThreadConsulting.com Website: MetriqueSolutions.com LinkedIn: Michele Williams Contact Ed: Website: 831b.com Instagram: @SRA_831b Facebook: SRA831b LinkedIn Ed: Edward Bryan LinkedIn SRA: SRA 831(b) YouTube: SRA 831(b) Vimeo: 831(b) References and Resources: MetriqueSolutions.com Work with Me

Creating an Accounting Foundation for your Design Business with Erin McGhee Today I am welcoming Erin McGhee to the podcast. Erin describes herself as an Accounting Manager for service-based businesses. Her big goal – to put you in charge of your money. As you can tell, we have a lot in common. Listen in as we discuss what is needed to have you in the driver's seat of your business vehicle and what it takes to keep you there. Topics Mentioned: Organize Implement Maintain Financial Process Key Thoughts: My process and any service that I offer my clients, we follow the organize, implement, and maintain framework, and that organizes the first piece with any client where we truly dive into those foundations. Erin McGhee (8:55) Your chart of accounts needs to be detailed enough that you can look at them and analyze and make decisions for your business, it doesn't mean you won't have to dig down further here and there, but you should be able to look at it and make decisions. Michele (9:55) My goal is simple. It's to put owners in charge of their money. Erin McGhee (16:21) I do not ever want the owner of a company to feel like they don't own their books, you own them, period. Michele (18:03) Contact Michele: Email: [email protected] Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Instagram: @MetriqueSolutions Website: ScarletThreadConsulting.com Website: MetriqueSolutions.com LinkedIn: Michele Williams Contact Erin: Website: ErinMcGhee.com Instagram: @erinmcgheellc Email: [email protected] References and Resources: MetriqueSolutions.com Work with Me Recommended Chart of Accounts from Erin McGhee A Strong Core for Body and Business Ep 040 with Kolleen Losch E-Myth Revisited by Michael Gerber