Ep68: Knowing Yourself, Your Strategic Plan, and Your Financials with Michele Williams

When I was an interior designer, I worked with Michele for a year. She coached me through business growth, strategic thinking and planning, and general life challenges. She encouraged me to bring my full self to my businesses and see the through line through all the work I was doing.    Key Takeaways Owning and understanding the decisions made in the business is crucial for making necessary changes. Developing a strategic plan and managing finances effectively are vital for the long-term success and sustainability of the business. Have a strategy and plan in place when transitioning from a job to starting a business Balancing motherhood and entrepreneurship requires open conversations and prioritization Iteration and feedback are crucial for refining the business and meeting customer needs Define your own journey as an entrepreneur and prioritize profitability and sustainability in your business.   Michele Williams is the dynamic owner of Scarlet Thread Consulting and Metrique Solutions, two companies focused on empowering creative professionals to own the financials of their business. With an eye for detail and a passion for innovation, Michele has carved a niche in providing strategic business coaching and financial analytics to help business owners navigate the complexities of entrepreneurship. At Scarlet Thread Consulting, Michele utilizes her extensive experience in finance and business management to offer tailored coaching and mentoring services. She is dedicated to helping her clients achieve financial clarity and operational efficiency, enabling them to make informed decisions that drive their businesses forward. Through Metrique Solutions, Michele offers a unique blend of technology and consultancy, providing cutting-edge software solutions designed specifically for the owners of small business. Her expertise in financial metrics and data analysis empowers her clients to optimize their pricing strategies and enhance profitability. Michele's commitment to excellence and her unwavering support for her clients have established her as a trusted advisor and thought leader in the design community. Her work not only transforms businesses but also inspires creativity and growth, making her an invaluable asset to the industry.   You can find Michele at https://www.scarletthreadconsulting.com https://www.metriquesolutions.com   or on socials at @scarletthreadatl, @metriquesolutions Facebook : Scarlet Thread Consulting, Metrique Solutions   Chapters 00:00 From Corporate America to Entrepreneurship 05:37 The Pivotal Moment: Recognizing the Need for Change 11:27 Viewing Yourself and Your Business Differently 19:08 The Skills of Service and Being a Business Owner 20:18 Owning Your Decisions and Creating a Strategic Plan 27:00 Prioritizing Spending and Managing Finances 34:56 Transitioning from a Job to Starting a Business 36:48 Balancing Motherhood and Entrepreneurship 38:11 Creating a Strategy for Life and Business 39:32 Starting a Business: Assessing Resources and Creating a Strategic Plan 52:30 Refining the Business: Iteration and Feedback 01:02:20 Staying Focused on the Why and Enjoying the Process 01:07:26 Knowing When to Iterate or Pivot 01:07:50 The Power of a 212-Degree Mindset 01:08:24 Addressing the Emotional Needs of Entrepreneurs 01:09:26 Seeking Feedback and Analyzing Data for Growth 01:11:38 Choosing the Right Marketing Platforms 01:13:27 Defining Your Own Journey as an Entrepreneur