CEO Chronicles

When chasing your dream becomes a nightmare

Welcome in, everyone! It’s your hosts Michele and Karamel here to talk all about what it means to chase your dream and what it means when that dream can become a nightmare. While we do acknowledge that there are lists out there that help you determine how you know that your dream is becoming a nightmare, we point out several different ways to tell, starting with assessing whether or not your personal life and/or business is/are suffering. Your dream can also, of course, become a nightmare when you’re not making enough to cover your costs, obviously a big one. We discuss the problems that can arise when what it is that you offer is no longer in demand, being burned out and therefore unwilling or unable to keep up with the demands of the business (another really big one), having the skill to do whatever service you offer but not really understanding how to run a business, and more. We also talk about a few ways to help prevent your dream from becoming a nightmare, such as being open to change, having what Karamel refers to as a “kitchen cabinet,” seeking out advice from people who have been in similar shoes, and, probably most importantly, stick to your plan!  At the end of the day, there are several ways that chasing our dreams can be become nightmares, and we need to be able to wake up from the nightmare if and when it happens, so if you find that your personal life is suffering, that you're having financial struggles, that demand for what you offer is dwindling, and/or that you're experiencing burnout, then this episode is likely for you! If you enjoy it and get some valuable insight out of it, please feel free to reach out to us with your thoughts because we would love to hear from you! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel [https://www.youtube.com/@MyCEOChronicles] if you want to both hear us and see us!   Time Stamps [0:31] - Michele has been realizing that some people are chasing after their dreams while living nightmares. [1:23] - If your personal life is suffering, then that’s a good sign that you’re living a nightmare rather than a dream. [4:48] Financial struggles arise when costs outweigh income, potentially leading to business closure or missed payroll. [7:03] - If your products or services face declining demand alongside other issues, it's time for evaluation. [7:55] - Another thing to watch out for is burnout! [9:05] - Michele and Karamel agree that when you run a business, you have to be willing to change along with the times. [10:40] - Michele discusses the problem of not being passionate for your business anymore. [13:20] - Learn what Michele means when she says “to make something shake.” [15:42] - Closing one business doesn't prevent future entrepreneurial endeavors; don't let failure hinder progress. [18:15] - Karamel argues for the importance of having what she calls a “kitchen cabinet.” [21:37] - Karamel points out that one way to combat your dream becoming a nightmare is seeking out advice from others. [23:57] - It is never a good idea for a business owner to bury their head in the sand. [24:35] - Michele argues that ”taking it day by day” is more than a cliché; focusing on daily tasks builds momentum. [25:25] - STICK TO YOUR PLAN!   Resources CEO Chronicles – Website [https://ceochronicles.libsyn.com/] My CEO Chronicles - YouTube Channel [https://www.youtube.com/@MyCEOChronicles] Email CEO Chronicles: info@myceochronicles.com Email Michele: michele@myceochronicles.com Email Karamel: karamel@myceochronicles.com

Is It Still the New Year...Let's Catch Up!

We are back for a new season, everyone, and we are starting off by catching up on our entrepreneurial journeys, sharing insights, challenges, and triumphs. As brick-and-mortar and e-commerce business owners, we've navigated the ever-changing landscape of entrepreneurship for years, adapting to market shifts and personal growth along the way. From managing brick-and-mortar insurance agencies to e-commerce ventures and luxury travel experiences, our diverse businesses keep us on our toes, and we discuss the daily grind of entrepreneurship, the constant pursuit of growth, and the importance of strategic planning. We also delve into topics like the intricacies of running online businesses, the power of social media marketing funnels, and the necessity of diversification in uncertain times. Through this candid conversation, we reflect on the realities of being business owners, including the highs of success and the lows of navigating financial challenges. As we share anecdotes and lessons learned, we hope that you gain valuable insights into the dynamic world of entrepreneurship. From discussing the impact of external factors like economic shifts and industry trends to embracing the necessity of change and adaptation, our conversation offers a glimpse into the multifaceted journey of entrepreneurship! If you enjoy this episode, please feel free to reach out to us with your thoughts because we would love to hear from you! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel [https://www.youtube.com/@MyCEOChronicles] if you want to both hear us and see us!   Time Stamps [0:52] - Karamel asserts that entrepreneurship entails daily challenges, constantly evolving tasks, and occasional uncertainty. [1:18] - Michele and Karamel reintroduce themselves since it's been a bit since season 2. [3:00] - Michele reflects on how six years of business evolution has expanded her knowledge and reshaped spending habits. [3:53] - Karamel argues that business success involves aligning activities with goals, not solely focusing on making money. [4:26] - Hear how Michele doesn't feel that the 9-5 concept applies to her as a business owner. [7:28] - Despite minimal social media use, Karamel still leveraged it to successfully launch her training business. [8:17] - Targeted advertising, when done effectively, builds rapport and authentically boosts sales. [11:14] - Michele argues that constant growth is essential; failing to grow will lead to decline. [14:29] - Karamel points out how flexibility allows her to adjust focus and finances to sustain projects during challenges. [16:27] - Karamel adds that despite challenges, she diligently optimizes her business strategies such as improving website navigation for customers. [17:23] - Michelle discusses the residual pandemic effects that still persist, causing challenges like rising costs in various sectors. [18:45] - Karamel firmly asserts that her clients are informed upfront that her training demands personal effort; she will not do the work for you. [19:13] - Michele refers to the book Relentless [https://www.amazon.com/Relentless-Unstoppable-Tim-S-Grover/dp/1476714207/ref=tmm_pap_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.GaCIlM-YisRaa1uoD20V3pKQL1SYnYY9Uh_XdKRxfzh8Vl1BMa7I8j1SblLgXvnBUPiMGexkM_WQ2xEeKuk9gECg_I23tGFTUL6badDclyQ-6SRwzsEEozURPBjkvbVE8M3cNkOyMoSvUSzuj2KhN87b2ZKbx7VDx1ZgNyvR7nZuOJj1SdoFEGP9bN2qoXM-GOxNtDy0cMfINnQkzHzgDoQxO1Pis18DpwXccT8GFy4.e6E7aY7Gr0Ta2R7ja3GyYkkOChkC68hDgRr6f-HxRrw&qid=1710814405&sr=1-1] by Tim S. Grover. [20:14] - Adaptation is key in business; like insurance agents, pivot when circumstances change operations. [21:36] - Michele discusses at length how businesses evolve and how growth plans and daily focus foster improvement despite challenges. [24:28] - Strategic planning prepares Karamel for future challenges, ensuring preparedness. [25:40] - Michele argues that strategic scaling is all about using resources smartly instead of just throwing money around. [26:45] - Karamel recognizes the value of teamwork and involves her team in decision-making for business growth.   Resources CEO Chronicles – Website [https://ceochronicles.libsyn.com/] My CEO Chronicles - YouTube Channel [https://www.youtube.com/@MyCEOChronicles] Email CEO Chronicles: info@myceochronicles.com Email Michele: michele@myceochronicles.com Email Karamel: karamel@myceochronicles.com [karamel@myceochronicles.com] Tim S. Grover - Relentless: From Good to Great to Unstoppable [https://www.amazon.com/Relentless-Unstoppable-Tim-S-Grover/dp/1476714207/ref=tmm_pap_swatch_0?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.GaCIlM-YisRaa1uoD20V3pKQL1SYnYY9Uh_XdKRxfzh8Vl1BMa7I8j1SblLgXvnBUPiMGexkM_WQ2xEeKuk9gECg_I23tGFTUL6badDclyQ-6SRwzsEEozURPBjkvbVE8M3cNkOyMoSvUSzuj2KhN87b2ZKbx7VDx1ZgNyvR7nZuOJj1SdoFEGP9bN2qoXM-GOxNtDy0cMfINnQkzHzgDoQxO1Pis18DpwXccT8GFy4.e6E7aY7Gr0Ta2R7ja3GyYkkOChkC68hDgRr6f-HxRrw&qid=1710814405&sr=1-1]

Do You Make the Cake? Working On or In Your Business

We hope that you will join us today as we discuss the challenges and triumphs of small business ownership! As the year comes to a close, we reflect on our experiences, sharing insights on working in vs. working on the business. Michele discusses her shift from working IN the business rather than ON the business due to rising costs and the need to cut expenses. With a strategic approach, she streamlined operations, making tough decisions like letting go of certain expenses, including a beloved billboard. Embracing an abundance mindset rather than a scarcity mindset, she emphasizes the importance of adapting to business changes and staying vigilant. Karamel shares her perspective on balancing hands-on involvement and strategic planning, acknowledging the need for energy management and considering an exit strategy. We explore the complexities of leadership, emphasizing the significance of effective communication, building a supportive network, and appreciating the efforts of the team! Again, we hope that you will tune in to gain valuable insights into managing a successful business while nurturing meaningful relationships within the entrepreneurial journey! If you enjoy this episode, reach out to us with your thoughts because we would love to hear from you! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel [https://www.youtube.com/@MyCEOChronicles] if you want to both hear us and see us!   Time Stamps [1:23] - Michele says that this has been a very hard year for business. [1:58] - Why has Michele been working IN the business this year vs. ON the business? [3:06] - Michele touches upon why she had to cut expenses. [3:46] - Michele has to let her beloved billboard go next year. [4:42] - This year has been a year of growth for Karamel. [5:54] - What does the phrase “making cake” mean to Michele and Karamel? [7:30] - Karamel argues that you can afford what you make room for. [9:11] - You have to pay attention; you cannot put your head in the sand! [9:35] - It’s important to have an abundance mindset, not a scarcity mindset. [11:23] - It’s so important to not break your own rules. [14:21] - Business owners might be removed, and not all employers will know you. [16:43] - Karamel pays experts for help because she acknowledges not knowing everything. [19:08] - It requires a lot of energy to engage with people on a substantial level. [21:32] - It’s important for people in your business to feel valued and loved. [23:57] - Michele gives an example of why she wants to work ON her business rather than IN it. [26:43] - It can be very hard for some people to step away from making the cake.   Resources CEO Chronicles – Website [https://ceochronicles.libsyn.com/] My CEO Chronicles - YouTube Channel [https://www.youtube.com/@MyCEOChronicles] Email CEO Chronicles: info@myceochronicles.com Email Michele: michele@myceochronicles.com Email Karamel: karamel@myceochronicles.com

Defining Employee Roles

In this thought-provoking episode of the show, we hope that you'll join us as we discuss the intricate process of defining employee roles within our businesses! As we gear up for the upcoming year, we find ourselves at a crossroads, facing challenges in hiring the right candidates and clearly outlining their responsibilities, so we explore the delicate balance between employee expectations and employer needs, discussing the importance of effective communication and setting realistic goals. Through candid anecdotes and valuable insights, we share our personal experiences of managing teams, emphasizing the significance of clarity and flexibility in defining roles. We also open up about our individual journeys as business owners. We challenge the conventional definitions of success, emphasizing the significance of aligning our goals with personal aspirations rather than societal expectations. We explore the dynamic interplay between business growth and personal contentment, encouraging fellow entrepreneurs to embrace their unique paths. As we discuss the empowering nature of entrepreneurship, we unravel the essence of gratitude and fulfillment that comes with steering our own ships. If you enjoy our conversation today, then please feel free to reach out to us with your thoughts! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel [https://www.youtube.com/@MyCEOChronicles] if you want to both hear us and see us!   Time Stamps [0:19] - We are talking today about defining employees’ roles within our company. [3:13] - Michele considers both employer and employee viewpoints on income challenges. [4:11] - Employees weigh flexibility and earnings, considering tradeoffs for balance. [5:35] - Karamel and Michele discuss aiming to enhance efficiency by redistributing tasks. [7:13] - Michele asserts that defining senior roles requires revisiting expectations. [9:07] - Michele points out that “elevated” is the key term here. [9:39] - Karamel argues that efficiency is crucial; define tasks clearly and innovate processes for improvement. [10:19] - Michele adds that communication is also very important. [11:39] - Clear communication about job expectations helps ensure pride and productivity. [13:15] - Michele shares a valuable lesson that she learned, to focus on core responsibilities. [15:12] - Michele offers an example of how to provide clarity in expectations between employers and employees. [16:45] - Karamel prioritizes clear communication and preparation. [18:32] - People need to know and understand what’s expected of them. [20:01] - Michele doesn't micromanage but encourages team autonomy after morning meetings. [23:09] - Michele likes straightforward communication. [24:33] - Michele explains how building a team is like organizing a bus; roles define success. [26:10] - Defining roles ensures growth, but Karamel prioritizes balance for business sustainability. [26:41] - Michele aims to scale, delegate, and innovate. [27:34] - We are encouraged to not allow society to define success for us.   Resources CEO Chronicles – Website [https://ceochronicles.libsyn.com/] My CEO Chronicles - YouTube Channel [https://www.youtube.com/@MyCEOChronicles] Email CEO Chronicles: info@myceochronicles.com Email Michele: michele@myceochronicles.com Email Karamel: karamel@myceochronicles.com Women Travel Abroad - Website [https://womentravelabroad.com]

Season 2, Episode 28

In this episode of CEO Chronicles, we take a deep dive into the blurred lines between a hustle and a business. We grapple with the challenges of expanding our income streams, sharing personal experiences and candid insights. The conversation revolves around the critical decision-making process, exploring when a venture evolves from a mere hustle to a fully-fledged business. Discussing the importance of strategic investments, we emphasize the need for experts' guidance and how hiring specialists can elevate a side hustle into a thriving enterprise. We reflect on our own approaches, Karamel's risk-taking attitude and Michele's cautious, calculated decisions. We explore the dynamics of juggling multiple ventures and the significance of diversification. Throughout our conversation, we touch on the essence of effective time management, highlighting the need for a reliable support system. We share our aspirations for the future, focusing on leveraging our existing successes to pave the way for new opportunities! Join us as we navigate the intricate balance between passion, risk, and strategic growth in the entrepreneurial world. If you enjoy our discussion this week, please feel free to reach out to us with your thoughts! Please also consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops, and don’t forget that we are now on YouTube, so please feel free to follow our YouTube channel [https://www.youtube.com/@MyCEOChronicles] if you want to both hear us and see us!   Time Stamps [0:31] - Karamel and Michele are talking today about side hustles vs. businesses. [2:54] - A side hustle is defined as a flexible endeavor pursued at one's discretion. [3:16] - Side hustles often operate on minimal resources. [4:59] - Michele invests based on results, not just hearsay or potential. [5:17] - Karamel takes calculated risks after thorough research. [7:28] - Michele points to the importance of word-of-mouth in the insurance business. [8:29] - Michele discusses risk tolerance. [9:50] - Efficient ventures require expertise. [10:44] - Karamel shares having hesitated at a large loan and questioned her understanding of numbers. [12:40] - Michele argues that it's crucial to be a good steward of your money. [14:17] - Karamel attends diverse meetings to gain insights for the future. [17:57] - Michele emphasizes that her business is very dynamic by nature. [18:46] - Karamel advises investing in experts for a second income stream. [19:36] - A hustle will stay a hustle until you take a reinvestment. [22:35] - Michele argues that success relies on focused energy on a struggling business. [24:30] - We are encouraged to stay resilient and adapt to challenges. [27:58] - Michele admits that she needs to invest in an assistant.   Resources CEO Chronicles – Website [https://ceochronicles.libsyn.com/] My CEO Chronicles - YouTube Channel [https://www.youtube.com/@MyCEOChronicles] Email CEO Chronicles: info@myceochronicles.com Email Michele: michele@myceochronicles.com Email Karamel: karamel@myceochronicles.com Women Travel Abroad - Website [https://womentravelabroad.com]