When chasing your dream becomes a nightmare
CEO Chronicles
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...
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Is It Still the New Year...Let's Catch Up!
CEO Chronicles
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...
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Do You Make the Cake? Working On or In Your Business
CEO Chronicles
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...
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Defining Employee Roles
CEO Chronicles
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,...
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Season 2, Episode 28
CEO Chronicles
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...
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Bottom Line Up Front - BLUF
CEO Chronicles
Welcome back to another exciting episode of CEO Chronicles in which we dive deep into the essence of effective communication and time management, both incredibly important when it comes to being CEOs! We share our no-nonsense approach to business dealings, emphasizing the importance of getting straight to the point. Karamel discusses her frustration with unnecessary details and the need for clear, concise information in business interactions, and we both stress the significance of the "bottom line up front" mentality, focusing on what truly matters and making decisions swiftly. We also explore...
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Coming into your Bossdom!
CEO Chronicles
Join us this week on CEO Chronicles as we provide insights into both of our journeys as CEOs! In this candid conversation, we discuss the challenges and responsibilities that come with leading a business, and Michele reflects on her background in radio and sales, emphasizing the importance of never missing work and always achieving goals. Karamel, on the other hand, coming from a startup background, shares her experience of building something out of nothing and navigating the complexities of running a business. We both touch on our interactions with vendors and the need for clear communication...
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Career Considerations…Do We Have To?
CEO Chronicles
Join us today as we get talking about whether employers should consider things like commute times. We believe that you need to set clear expectations up front. We discuss how we are both upfront with our employees - the work needs to get done, even if it means staying late some nights. We do also talk about how we understand that people's lives change and how showing a little flexibility can build loyalty, but we also do not believe in showing favoritism. Listen in as we also get into how we each manage teams and how our styles are both similar and different. We like to consider their needs,...
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Entrepreneur Arrogance, Competence or Confidence
CEO Chronicles
Join us today on a thought-provoking episode of CEO Chronicles as we delve into the complex interplay between confidence, competence, and arrogance in the world of entrepreneurship! While we acknowledge that as business owners, we certainly exude confidence and certainty, we also explore the distinction between arrogance and competence. Reflecting on our roles as confident leaders with a clear vision, we emphasize the value of humility and the importance of balancing confidence with approachability. We also discuss the challenges of decision-making, the nuances of leadership, and the...
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Who is the Keeper of Your Institutional Knowledge?
CEO Chronicles
We are talking all about institutional knowledge today, and some of you may be wondering, what is institutional knowledge? Well, listen in today as we talk about what institutional knowledge is and why it’s important, offering personal examples along the way such as something that happened on Karamel’s recent trip to St. Lucia (not Croatia)! As we explain on the show, institutional knowledge is the sum of information a company and its employees possess, including but not limited to techniques, expertise, policies, data, skill sets, processes, and experiences. We also explain that there is...
info_outlineIf you are an entrepreneur, are you primarily motivated by money, or are you motivated by something more intrinsic? There are various things that drive an entrepreneur, and most of them actually have very little if anything to do with money. Listen in as we dive into that very topic, sharing what motivates us personally.
Research shows that there are four common motivators for entrepreneurs: control, freedom, impact, and of course money. We walk you through each one of these, giving real-world examples from our own experiences and the experiences of entrepreneurs in general.
We do acknowledge, however, the difference between being motivated by money and being motivated by wealth. Wealth to us means not having to worry about money rather than being primarily motivated by it, but being primarily motivated by it can be a mistake because money ebbs and flows and comes and goes. True passion and enjoyment for what you do is here to stay.
What is your primary motivation? We hope that this conversation is insightful for you, and if so, please consider subscribing to the podcast (if you aren’t subscribed already) wherever you listen so that you never miss an episode! Please also feel free to reach out to us via one of the methods listed below if you have anything you’d like to share. See you next time!
Time Stamps
[0:52] - Michele declares that she isn’t motivated primarily by money.
[3:11] - There are four common motivators for entrepreneurs.
[5:47] - Karamel elaborates upon the idea of there being three days in twenty-four hours.
[7:53] - Learn why Michele doesn’t like to work from home.
[10:52] - Karamel opens the conversation around impact.
[13:43] - Michele gives examples of what impact looks like.
[15:51] - Karamel returns the conversation to being motivated by wealth.
[18:01] - Karamel touches upon extra money coming in so you don’t have to worry about it.
[20:23] - Hear what a whiteboard session is.
[23:15] - Karamel argues that motivations can shift and change over time.
[25:15] - Michele ranks the top four motivations in order of importance to her.
[29:01] - How does Karamel rank the top four?
Resources
Email CEO Chronicles: [email protected]
Email Michele: [email protected]
Email Karamel: [email protected]