204: Lessons in Taxes, Processes and Relationships
204: Lessons in Taxes, Processes and Relationships
with Michele Williams
And just like that we are beginning year 5 of the podcast. Thank you to everyone who has listened, contributed, provided feedback and been part of this podcasting journey in any way. Cheers to wrapping up year 4 and to beginning year 5. The best gift you could give me would be to leave a review of the podcast on your favorite listening platform. Now, let’s recap a year of learning!
Topics Mentioned:
Systems and processes
Intentionality
Marketing
Taxes
Listen to the Episode
By now you probably know the drill – my year in review of the podcast. I am always learning and growing and the podcast is a big part of that. Please keep sharing with me so I can share with all who are tuning in.
I am starting this yearly reflection with Episode 161.
We began this year by investigating our relationship with money. Aimee LaLiberte joined us and shared that every time she has grown in her business it was when she let go of a pre-determined agenda or mindset that she had about how hard she had to work to get ahead. We also looked at the fact that money is amoral – what we do with money is where morality kicks in.
In episode 162 I shared 3 strategies to fit your business into your life – not the other way around. Trust me, I have to work through this one over and over myself. A good reminder is that we work to live – not live to work.
Jenni Egger shared in episode 163 how her work at Clinique and with the Estee Lauder company informs her leadership style. Jenni makes relationships and communication the center of her team and it comes with huge payoffs.
In episode 164 I share with you what is needed to prepare for a Deep Dive into your strategy. Creating an agenda is key to getting the most out of your time along with establishing a way to take notes and create follow-up tasks.
Sarah Walker of Nuance Interiors continues our conversation around building relationships in business. Sarah opened a high-end kitchen showroom in the midst of a pandemic and made it successful by leveraging her relationships.
In episode 166 I share what to do when you have taken your business as far as you can alone. We all need assistance at some point in our entrepreneurial journey and knowing when to raise the white flag for help can be a turning point.
Andy Seely shared with us about building trust in the marketing we are doing for our firm. This happens when we are sharing the right message with our client base and can actually supply what we are selling in the way we are describing it.
Having a resource focused on operations is a key to scaling your business. As the business grows, we as the owners cannot do all of the running of the business alone. Episode 168 focuses on how to hire an operations support person for your firm.
Ben and Jenny Slingerland join us to share what it is like to grow a business with your spouse. They have established job descriptions for each of them and mutual respect is the guiding factor in their success.
The Scarlet Thread origin story is shared in episode 170. Many of you have reached out to tell me how much this episode meant to you. Thank you. I encourage each of you listening to write or reflect on your own origin story. It is exciting to see how far you have come as you do this exercise.
John Warrillow gives insight in episode 171 on how to create a business to sell. John is the author of many books, but one of my favorites is “Built to Sell” along with the podcast of the same name.
Debra Scarpa and Ashley Blaesing of Home Designer Marketing dive into systems and processes in episode 172. We talk about the importance of structure, templates, and systems. Don’t let this topic scare you!
Episode 173 has us getting really honest with the topic of being the boss when it sucks. Life and business are not always rainbows and kittens. Often as the boss it is hard and lonely. This episode is meant to recognize that truth while also giving you some straightforward advice to take control as you need to even when it is difficult.
Damari Gold shares with us the importance of finance management to the success of our companies. Having a tax plan and CFO days were key takeaways for me.
Episode 175 focuses on ending the year well in your design business. We are quickly approaching year-end again – so it is a great time to revisit this training.
Each year Ceil DiGuglielmo of the Sew Much More podcast and I do a year-end wrap-up of what we have learned, where we have focused, and we see how different approaches serve us. Last December we dug into the conversation regarding resiliency. And it feels like it was the lesson we all needed.
This year was kicked off with episode 177 with a discussion of measuring what matters in your design firm. Knowing what we want to measure, how to measure it and when removes the stress and allows us to focus on the work and the outcomes. If it doesn’t matter to the success of the firm, don’t worry about creating a process to measure it.
Rachael Boszik and I had a great dialogue about creating a niche then building authority and visibility within that niche. I have worked with Rachael personally and it has been great to get my message even more dialed in. Because as we all know, our ideal clients and offerings can change over the years.
While I wish I could tell you that setting financial goals was a once-and-done – that is not true. In episode 179 the topic is setting and revising financial goals. This does not have to be difficult if done in small ways.
Peter Lang joins us again to emphasize financial management and oversight in your design firm. And no matter how many times we talk about this topic, there is always some new insight to glean.
Paige Risley and Beth Moffatt share with us in episode 181 how to work with a recruiting agency to staff your team. Paige and Beth have supported me and many of my clients and other business owners to find the best match for their business. Learn the difference between hiring straight out and working with an agency.
Budget budget budget. I cannot say enough how we need to tell our money and resources where to go instead of wondering where it went. Episode 182 shares again how to create and manage to a budget in your firm.
Kelcee Sparks, in episode 183, shares how to prepare for an operations resource on your team. I love how she shares that one of the first tasks to tackle is the client experience. Great information in this podcast that is totally actionable in your firm.
Carol Lang, one of my clients, shares with us how her success has been improved by working in her strengths instead of what she originally thought was expected of her. She shares how she is much happier and has more of the balance she is looking for by managing her own expectations against her larger family goals and supported by her strengths.
Episode 185 is a repeat from season 1 showing you how to do your financial goal setting backwards by starting with the salary you need to make and how you will allocate your profits. Listen in as Tracie Taylor works through this on the podcast.
In Episode 186 the topic of preparing your business to step away has been a conversation many are having as their businesses grow and scale. How do you take a long vacation or take time off for medical and family needs? This episode gives you guidance on how to prepare for this.
Metrique Solutions is a money management application I have developed and it was introduced in episode 187. Get on the launch list at MetriqueSolutions.com so you can be the first to have access to this exciting tool.
Scott Beebe shared in episode 188 about building heroism in business. His business really has a heart for helping remove chaos in the life of the business owner.
Episode 189 is Profit First focused. This is a great review on how to analyze and review your profit first strategy. This was never meant to be a once and done strategy for money management and I teach you how to review your strategy to see if it is still working for you.
Katie O’Brien shared in episode 190 the 5 website essentials we all need. And one is concise and intentional copy. Clear and to the point is the way to go.
Katie Menon with Stephenson House shared her story of success in episode 191. Katie shared how when she started she did not know what was possible, and when she saw what was possible it gave her a goal to shoot for. Katie has had amazing success in a short amount of time and she shares her lesson learned here.
In episode 192 cultivating leadership is the topic. There are some great questions to ask in this podcast to see what you and your team thinks about leadership and how it should be displayed in your firm.
Pamela Durkin then shared with us about leveraging your network to build your company. If you are noting themes – networking is most definitely one of them. Pamela is also very intentional in her approach which creates a beautiful relationship with those she supports and those who support her.
Melanie Lockert in episode 194 is very open about her prior debt and the steps she took to alleviate that debt. More than a debt snowball, Melanie sheds light on the feelings that surround debt and how it feels to kick that debt to the curb.
Ever feel burned out or like you have seen it all? Yea, well me too. In episode 195 I share with you how we can look for inspiration in some of the most unexpected ways. It is easy to get burned out or feel like we have seen it all – but our mindset of being delighted can go a long way.
Our next two episodes are all about systems and processes with Owen McGab Enahwo and Adi Kelvit. Both are experts in systems and processes and share similar opinions to why these are needed and how to implement. These are worth a listen.
Our summer always needs downtime and we focus on just that in the podcast, Rest, Recharge and Reset You and Your Business. I cannot get through the second half of my year without taking time for this.
Erin Ollila in episode 199 shares all about SEO and messaging. So make a note if this is an area you need to dive into.
And of course, where would we be without sales? Jeremy Miner shares his NEPQ approach to building rapport but not just that – he shares how to really ask questions that get to the heart of the challenge our potential clients have without being sales or pushy….but instead by being curious.
Episode 201 is another replay from a couple years ago giving us permission to rethink our businesses. The landscape of business is always changing and if we know the building blocks, we can modify our business at any time. Worth a relisten just for permission to do what you want to do in your own business.
Wendy Barlin joins me in episode 202 with another conversation on tax strategies. While we always want to pay our fair share – we really don’t want to pay more. Wendy reminds us how important it is to keep records – and which ones to keep.
Last, but not least in our year end round up is Andrew Allemann sharing ways we can grow our business through podcasting. One of my newsletter mentioned working with other people’s traffic and being on podcasts is another way to get the word out about what you do and who you serve. For tips on making this marketing strategy work for you – check out episode 203.
And that is a year in podcasting!
You may know this, but each of my podcasts is also a blog post. Meaning, you can go to the podcast episode on my website and read the notes. On my solo podcasts, the full text is there. On interviews, at the bottom is the transcript. This is always helpful if you need to read instead of listen.
Profitability is more than money. Each of these episodes helps build a business piece by piece that makes it more efficient, fun, and focused. And all of this is profitable in some way. On my website you can also find the Podcast Coaching Series. This is a list of podcasts that will help coach you as you are working on your business – on your own time. You can find this under Resources -> Free Downloads.
If you have an idea for a podcast topic, email me at Support@ScarletThreadConsulting.com . I also invite you to check out the case studies on my website at www.scarletthreadconsulting.com in the client results section. Keep listening to the podcast and implement what you hear that might work for you – and be intentionally profitable, because success and profits don’t happen by accident.
Key Thoughts:
By now you probably know the drill – my year in review of the podcast. I am always learning and growing and the podcast is a big part of that. Please keep sharing with me so I can share with all who are tuning in. Michele (1:13)
In episode 164 I share with you what is needed to prepare for a Deep Dive into your strategy. Creating an agenda is key to getting the most out of your time along with establishing a way to take notes and create follow-up tasks. Michele (3:27)
Episode 173 has us getting really honest with the topic of being the boss when it sucks. Life and business are not always rainbows and kittens. Often as the boss it is hard and lonely. This episode is meant to recognize that truth while also giving you some straightforward advice to take control as you need to even when it is difficult. Michele (6:15)
Profitability is more than money. Each of these episodes helps build a business piece by piece that makes it more efficient, fun, and focused. And all of this is profitable in some way. Michele (15:05)
Socials:
Email: Team@ScarletThreadConsulting.com
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL