https://www.listennotes.com/e/2bc7bc38277f4ed1962ba6d9e541dfcd
12 Mar 2021 · 33 min
This is a podcast episode titled with a URL link from March 12, 2021, featuring Hey Kareen® (Karene Walsh), a serial entrepreneur and executive coach. The episode is part of the Badass Journey podcast where Karene discusses career and business growth strategies, focusing on scaling, sustaining, or shutting down revenue streams or business pivots. The content includes a detailed coaching conversation with guest Michelle Johnson about managing and growing a virtual event business, along with motivational insights on patience and loyalty. The episode is designed to help listeners align their passions with their professional paths and build fulfilling businesses.
You get to dictate the role you want to play. And if you are not leading your own career in your own business, then you're forgetting why you started your business in the first place and why you're not working for somebody else's company. This is your Badass Journey podcast. I am Karene Walsh, serial entrepreneur, growth strategist, executive leadership coach, and bestselling author. Each week, I will bring you a guest or thought that will help you align what you love with what you do in order to build that badass life and business you dream of. Hey there, listeners. Welcome to another episode on your Badass Journey podcast, you know, I love hearing from you and I really appreciate when you ask amazing questions, but most of all, I've been loving on my interviews, getting these on the spot questions from my guests to serve you better, right? As I'm serving them, I know you guys have these questions, too. And so it has been such a joy. It's probably one of the favorite, my favorite parts of those interviews is answering those questions for these amazing guests that are gifting us with their knowledge and their journey and sharing it with you. Before I jump into today's topic, I wanted to pull some energy cards because the two that I pulled today, I thought were something that maybe some of you need to hear as well. And it also aligns really well with today's topic of trying to help you figure out what to do since you maybe did a pivot from last year or you are still trying to figure out what to do career-wise or in your company because of the state of the economy right now and where we are and trying to navigate our new way of living. So these two cards that I pulled, I just thought was so relevant only because I need to be reminded of these as well. So number one is one of the words that actually gives me a little tick because when I hear it, my overachiever side wants to combat it always. And it's the word patience. And the way it's described here, the energy to think about when it comes to patience is relax into stillness. return to nature to recharge. Transformation can be subtle, be at peace while waiting, conserve energy and slow down. I feel like patience has been tested like crazy in the past year. And so the energy for me when I see a card like this or when that word comes into me now, really around that phrase that was also here. It says transformation can be subtle. Sometimes we have to be patient through change and exercise our patience when we want something so bad or we see something that we know we can become. And the overachiever in us is kind of feeling like it's not fast enough or how come it hasn't happened yet because it's so so clear in our energy that that's where we're meant to go and be that that subtle energy of just allowing it to show up as it's meant to. It doesn't mean stop acting. None of this said stop action. It meant just slow down and appreciate all the action you're taking. That's kind of how I've been redefining patience for myself and also being more present. is allowing me to embody patience without being triggered when my goal-getter side is kind of just wants to be in go, go, go. And maybe things from the outside in are just not aligned yet. So patience is that energetic word. The second one that I pulled, which I thought was really interesting because this is national women's month. And I always think of this word when I think about all my amazing girlfriends out there, as well as, you know, great clients and all the friends in my life, truly. But this word comes up because it's, it's kind of, it's the energy that I think shows up in our deepest relationships, and that energy is loyalty. So the word is loyalty. and this has bullets underneath that says, build alliances. We are stronger together. Fortify healthy connections. Surround yourself with those who inspire you and honor promises. So I know that in this past year and even coming into this year, it's been hard to sustain on our own. And this what I loved about the seeing this world word and hearing to myself as I read it to myself in my meditation this morning, we are stronger together is something that and fortify healthy connections. I feel is something that has become way more important now that we've been challenged to be separated, some of us unable to see the ones we love on a consistent basis other than through our lovely technology and video connections. but to fortify it, that energy still matters, you know? And the desire, what's coming up for me now is as things open up and as we can potentially start planning to be with each other more in a healthier and safe way is how to fortify it. You know, I'm leaning into what the future holds, what space container can I create that where we can physically be together and really cherish that time. But loyalty is that word because regardless of circumstance that's happening on the outside, you still can show up for each other. You still can honor promises and surround yourself with those who inspire you, especially digitally. make sure you're using your filters, your mute button, your unfollow button on the energies that don't align with who you are and stay loyal to those who are aligned with who you are and the energy you want to surround yourself with because it. It fortifies it for you. So those are the two cards I pulled today and wanted to share them with you because I said I would. I said I would, and that's. honoring my promise, I said I would periodically share these energy cards with you because I know how much they've helped me. And I hope that you walk away today, at least with that from today's episode on thinking about the energy of patience and loyalty. So now let's jump into today's conversation. What I loved, and it actually is aligned with these two energies as well, is that when what I loved about my talk with Michelle Johnson that you guys heard in the last episode, and if you're new to the show, welcome. If you haven't heard it, just go one episode back after you listen to this one, if you show desire so that you can hear the full interview with Michelle. When she had asked at the end, the gifted Q&A that we have about figuring out how she can kind of get out of the weeds. So in that interview, she shares how she had to add an additional revenue stream, a method at which she had to get resourceful and figure out the method at which she could still sustain event management, which is her business, and do it in a way that aligned with how people needed to come together virtually. So now it's created an awesome revenue stream for her. And she's asking, how do I scale and sustain it, you know, but still go back to the things I love, go back into why she built an event management business in the first place. And she's an MC. She's She has all these amazing gifts as part of her business, but they were unable to be fulfilled because the meeting of large groups and her ability to show up in that space and coordinate and facilitate that space for clients was put on pause due to our pandemic. So here she is asking her question, and you're going to hear the start of how I answer it. But after you hear the segment from the last episode, I'm going to hop back on here and tell you the tips to think about, like really give you the framework that we talk through in that Q&A session so that you can figure out what's best for you, career and business, so that you are stepping into 2021 really with a conscious effort as to aligning what you truly want to be doing in your business from a growing space versus a reactionary space to just sustain revenue and income and figure out what felt safe or secure. And let's do, I want to give you the method of how to scale and grow regardless of what's happening around us. These methods will work for you. So here's the segment. Take a listen and I will see you at the other side of it. so that we can break down what you should do in yours as the sparked up questions for you or if you were someone who did a pivot and added a new revenue stream and now you're kind of feeling like, you know, what do I do next with this? I don't wanna be in the weeds so much. So how do I manage this forward? All right, take a listen.
Some of my team members, I'll be them amazing individuals being in the virtual or hybrid world, they're not comfortable and so, It's a new skill set and I know I have a lot of wonderful people that can do it out there. Some are running their own business. I also know a lot of them who pivoted and did different things. Do you know how many event planners have become real estate agents? Like that's been a really big thing I've seen out there, but I know they're out there and so I need to just scale that up a little bit. So I look forward to talking with you how to kind of build that back up from where I am right now so minimally and not do everything as much as I have been for the last six months, but start to get back to where I was managing a team. I missed that.
Yeah. Yeah, so what I would start with, if you're going down that path of how do I scale the business I've created, this new stream of revenue, how do I scale and sustain it, but not necessarily be in all the details as much as I am right now, is to first design the role you want to play in it. So it's almost like take 10,000 feet up from it, look at this business model you've created, the service level that it is, what it's required to get the job done, and then decide for yourself first, what's the ideal role you want to play in it all? Once you define the role you want to play in it, so is it like closing the contract, designing the actual construct of what the virtual event would be, and then having oversight, Right? Like let's just say those are the top three things, then you're listing out everything else that has to happen and you're creating job descriptions from all the doing. I think a lot of people try to fit existing team members into potential new job functions that they were never qualified for, but just because they're on the team, it's like, well, I got to give you something. But it's really, really smart to just take that 10,000 foot above and say, this is actually the job description that I need to have fulfilled. And if there are internal people or people you worked with to apply for it and are not qualified, 'cause now you have a section of qualifications, like what does it actually take to do that job? Then it has become so much easier to qualify them or not, right? Like then you're like, look, this is the skillset I need, and obviously you don't have that. So I'm gonna take this outside and we're gonna hire from the outside in. Even if it's just a job description, whether or not you're hiring for it or hiring a service to do it for you, like contracting out portions of it, just that exercise alone will give you so much clarity and you're an action taker. So as soon as you get that clarity, you'll be like, I know exactly what I need. And that's going to give you the model of first taking care of you first. What I've seen in the past is thinking that you're going to hire all of you in somebody where sometimes it's a, if I had to just own this or like oversight on it, what does a normal person do to get this job done versus the overachiever that I am to get the job done, right? Like we, we kind of can skew a little bit of what we're looking for. So you really have to be kind of very practical on how you look at what it actually takes to get that job done and the learning curve then for someone to step into that. If they have some of the experience and not all the experience, then you'll understand too, your onboarding time before they're actually functional in that job for you. So great, right? Like the tip of the iceberg of what to think about what I just shared. was actually the second step to think about first. So I want to give you a few steps here on when you are sitting in, how do I scale past myself in this revenue stream or the business I've built, the way I have now tested this model, and I'm kind of feeling fatigued about doing it all. How do I take the next step to grow and scale past this? so the first step, actually, before you go into the breakdown of just defining, you know, what it is that you want to do and what should be delegated, is first you have to decide what do you want to do with this specific Revenue stream that you've built or the business that you've built, or even in the career Choice you had to make last year because you needed the income, but it's not necessarily what you love doing. So first you have to decide which direction you want to take it. And, and there are three s's to consider. Do you want to sustain it? Meaning, is it working for you? I think you need to assess for yourself is what you've done and built working for you and bringing you that fulfillment that you just want to keep it as going, like as it is and continue as it is and keep going. So sustain it is, is one potential answer. The second is scale it. So you've now proven that there is a revenue model here. You really enjoy being in this business and you want to scale it, but you don't necessarily want to do it all. But you need to first make the decision, do you want to scale it? And then the third decision to make or option to make based on, you know, which direction you want to take is, do you want to shut it down? So a lot of the times we don't give ourselves permission to look at it truly and say, hey, you know, that was great for that time or that worked for the way we were in society and I had to show up in that way. And yes, it was successful. However, I need to ask myself, is this something I really want to continue to do? And should I or do I want to shut it down? So the three options are sustain it, scale it, or shut it down. So obviously, if you pick sustain it, and keep going. Keep going into what it is that you're doing. If it brings you joy and you want to keep it as is, then keep going. There's no reason to change if it's working for you and your clients. And you don't always have to be pushing for more, more, more, more, more, as long as you are feeling fulfilled in all that you're doing. And I want to give you permission to sustain it for a while, especially in a year where we had so much energy of feeling untethered, that maybe this is a year of just being patient and sustaining it. If you chose scale it. So scale it is something that, you know, I like that's my word, scale and grow, because inner growth ultimately turns into scalability in your business and your world. Um, because as you are becoming more aligned with self, you then choose like, all these things come to you and your capabilities show up, right? And your resourcefulness shows up. So if you chose scale it, that is what we were talking about with Michelle. So Michelle, in her circumstance, was able to drive a new revenue stream that aligns with the umbrella of her business. And what we talked about was taking it 10,000 feet up. and saying, okay, now that I have the virtual event, I'm using her as an example, but you're gonna need to map out your different revenue streams for your business or your career choices and the growth you wanna make in your career. So for Michelle's case, she has a virtual business, in-person business, and she's an MC as well as a keynote speaker, right? So it's just three lines of revenue now. the virtual one started to take over and she was in her learning curve over six months plus to really figure out what engine she's building in regards to this virtual space. She's someone that's similar to me where you feel, you need to feel it out in order to not only sell it, but also to hire for and build a team and to do it. Now she's at that point though where the physical event demand is going to start coming up, and that brings her the most joy. She loves being in person with people. She's very talented in the virtual space and will always create connection there as well. But her energy lights up when she's in the room with people, and she wants to go back into her CEO energy of building that up, which she had a team for, and she really had mastered how to execute in that space. Well, now she has to do the same frameworking for her virtual business because she wants to sustain that as a revenue stream in her business. And she's now feeling the fatigue of doing it all, where she's realizing that where she had support in her in-person event, Management side is something that she needs to develop in her virtual revenue stream side. So how do we do that? How do we do that when we ourselves are the sales people and the service to our business? You have to decide what role you want to play in your business. So I always suggest with my clients, you take a 10,000 foot from above and look at your business as a whole. Anchor Group in Michelle's case has an umbrella of multiple revenue streams. So you look at your business as a whole. What are all the things you're selling? What are all the products in place? What are all the different levels of service and map that out. When you look at that, then you ask yourself as the owner, CEO, leader of this business, what out of all this arena brings me the most joy to do in my business? I didn't ask what can you do? I asked you what lights you up. Because what the beauty of being the owner of your own business is that you get to dictate the role you want to play. And if you are not leading your own career in your own business, then you're forgetting why you started your business in the first place. and why you're not working for somebody else's company. It is because you wanted to have the freedom to show up in your career life in a way that was fully aligned with who you are and allowed you to have that flexibility as well as decision ownership on how you show up in it all. What happens though is that we get caught up when we are the business and the service We get caught up in all the doing because we don't feel sometimes other people are adequate enough to do those pieces or we feel that because we're the owner, we have to. Or if we have a money management issue or don't know our numbers enough, we can't figure out how do we hire for someone to take it, might as well do it. That's cheaper. And I'm using my quotation hands for me to do it myself, right? That's cheaper than hiring somebody else to do it. and I really want to help you change those behaviors because again, you're forgetting why you started your business in the first place. So what's beautiful about Michelle's story is that she's proven the concept. She got in the weeds, she figured out what's needed, she got her system like technology in place. Now she's ready to say, hey, this is the role. She takes that view, that 10,000 foot view. This is the role I want to play in my business as a whole. then she can start to assess in order to scale it, in order to scale anything, you must enlist and help because your time is limited to the hours that you choose to work. You can automate a lot of things in your business, but when you're a people business like Michelle's is, she's dealing with people all the time. Servicing people cannot be automated. How many of you have been pissed when you're dealing with a chat bot? versus a person. Hands up, because mine is raised super high. Like, I just want to talk to someone to figure this out. It's the same thing when you're in a people business like event management or any sort of relational business. And now all business has to be relational because people are so fatigued by technology, you need to get back into connection, which Michelle loves. So she needs to look at her business as a whole and say, for this virtual event, base now that is part of my firm because events going forward, she also realizes that physical events going forward are always going to have a virtual arm. So she now has to also create the hybrid for a lot of these events. In looking at the full picture, she can now ask herself, after she's defined the role she wants to play, who do I need across all these channels of my business to help with X let's say if I want to stay in the sales role, if she wants to stay in the CEO MC role where she's creating connection, selling the deals, making sure the clients are taken care of on site, she needs a backend team to handle everything else that needs to come into place, right? So for her case, she wants to be front facing. So now she needs to build the back backend team. Well, she's done it really well for the physical events. Now she's got to do it for the technical events. And after she does this exercise, she'll realize because she's done the work herself, the actual skill set required to get this job done or a partnership she needs to create in order to fill that she can hire a service team sometimes to do some of these items, et cetera. But if you don't first define the role you want to play in your business, it is very difficult to scale past yourself. when you don't look at the pieces that others can step in to do for you. So enlisting that help is critical, getting clear on your role that you want to play. And also, I love to ask the question of who do you need to be to play that role in your business in order to scale it? So sometimes we have these dreams of, I really want to be the CEO, the salesperson, the front-end relational person, and not have to do any back office stuff anymore. Well, who do you need to be to be that only in your business? Because if you need to face the fact that you need to be someone who is comfortable hiring other people, leading other people, building the teams, feeling as if you are truly driving something forward versus building the engine, having to put the wheels on, then drive it, right? You see the difference there? Then maybe there's some growth you need to do yourself on what it means to become the leader you want to be in your business and manage those around you and build those internal frameworks of communication in order for it to happen. But that's for another show. We can dive into that a little deeper in order to help you right now. It's just identify the role you want to play. and get really clear on who you think you need to run that additional revenue stream or business that you just created so that you can scale it. Do you see how when you are clear about your role, you get clear about who else you need in order to run and sustain the business? And let me tell you this, when you find the experts out there that love doing the things that aren't what fill you up, they will actually take that job and make it more efficient than you ever would be able to because that's what they love to do. And when you can give someone that opportunity and build those connections, that's how you actually build a healthy business because you're now allowing people to align in the spaces that they love working with you. to do what you love and put your services and products out there. All right, so that was the second, the second piece, which was the scale it. If you answered scale it, that that's the piece. And make sure you save this episode if you didn't get all that so that you can really dive into that. If that is you. The third is the permission to shut it down. If you decide, you know what? If you do this assessment, you look at this business. I've been hustling. I've been trying to push just to make some money because I felt that this is the best way for me to survive this time. I challenge you to question, where is it that you're trying to go? Did this particular decision that you made last year in order to sustain life bring you fulfillment and has it run its course? Is it time to say, you know what? I want to go back to what I originally was doing because things are opening up and I can do that. Or is this something that, you know what? I keep banging my head trying to figure this out. I'm only making X amount. I really don't feel fulfilled about it. And maybe it's time I figure out how to shut it down. Sometimes that shut it down could result in, and, and a lot of my clients know I like talking about exit strategies. Sometimes it could be, it could be some, like something sellable. Shut it down means your energy towards something that isn't filling you up. So when you take that 10,000 foot view above your business and you're, and you assess and say, you know what? There is no longer a role in this particular business that I want to play anymore. Give yourself permission to shut it down. And I could do another episode on on exit strategies. But I think that that clarity for you to know why you're feeling so fatigued, your low energy about your business, you're not really wanting to show up in it. Every time you get a message from your clients, you're kind of deflated. That means you are running something that isn't aligned with who you are. So you need to give yourself permission to explore what shutting it down would look like. so that you can create the space for what it is you want next. It's the same thing in your career. If you were working for another company and you started to really think about the fact that the hamster wheel wasn't working for you anymore and you started to explore what next, what next, what next, and eventually you were able to resign because you started your side hustle that really lit you up and you built this new business, et cetera. You have to do the same in your own businesses as well. It needs to to require it requires a consistent evaluation. Because if you're not lit up running it, then the energy of what is meant to come to you in the life you are meant to lead and the business you're supposed to have and the impact that you're you're meant to have in this world won't be fulfilled because you are distracting yourself with energies that bring you into a lower frequency that are holding you back from meeting the people and surrounding yourself with the people that might actually give you the pathway to what you truly desire because you're giving your time to something that you potentially have outgrown. And yes, it is possible to be doing something for over six months and feel like you've outgrown it or it doesn't fit anymore. so I want to give you permission to evaluate where you are and decide is this time to actually shut it down because it's no longer aligned with what I need to do and it helped you stay afloat for a period of time, but maybe it's time to move on from it. So those are some of the pieces I wanted to give you today based on my conversation with Michelle. And it was so great to have that conversation with her and share where she's at and I Can't wait to see where she goes next because I know it's going to be amazing, just like how I know each of your journeys are also amazing. And your consciousness of connecting with me on my show and applying the tips and methods we share with you is how I especially know you are really building that life and business that you love doing. And that's what, you know, I'm here for. and of course, if you think anyone else could benefit from the show, please don't hesitate to share. But honestly, I want to hear your feedback. Your reviews mean everything to me, as well as your questions. If, as you're listening to the show, there's a question that comes up that you wish I would answer or give you guidance on, please do not hesitate to email it to hello@carinewalsh.com or you can DM me on Insta and let me know your question. and I would be happy to answer it in one of our future episodes. Thanks again for joining me today. I know you're gonna have an amazing one. And again, the words of today were loyalty and patience. So I hope it brings you the energy that you are looking for, and I will see you in the next episode. Wasn't that such a great episode. I know you got amazing takeaways from that. What I would love for you to do for me, if you can help me extend my reach, is go ahead and subscribe to the show so you get the latest notification and listen before anyone else. Also, if you could go ahead and post your review, your five star review will help me get other people interested in this conversation and extend my reach of impact. Most of all, I would love for you to share this with your community. It means so much to me to have you as a listener and I would love to connect with you. So if you have any questions you would like me to answer on this show, go ahead and email hello@carrieneWalsh.com and my team will make sure that I get your question so we can get them answered on the show. for you. Thank you so much for listening today, and I'll see you on the next episode.