Latest / WOC and Allies: Business and Career Realtalk with Elaine Lou Cartas / 24. 5 Years in Business: The Good, the Bad, and my Business Predictions

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24. 5 Years in Business: The Good, the Bad, and my Business Predictions · WOC and Allies: Business and Career Realtalk with Elaine Lou Cartas

0:00
SPEAKER_00: Legacy maker, I am here, still alive and thriving, and I'm excited to celebrate my five years in business with you and those earbuds of yours.
0:15
SPEAKER_00: And yes, I will share my wins with you, but this isn't going to be your typical, oh, look at me and how amazing I am.
0:23
SPEAKER_00: I mean, I roll, right?
0:25
SPEAKER_00: When we constantly see this online.
0:27
SPEAKER_00: Because the reality is, is like, okay, that's great, but can we really learn the behind the scenes, right?
0:35
SPEAKER_00: Not the highlight reels, but the behind the scenes, the mistakes, the lessons, where are you fucked up?
0:40
SPEAKER_00: And that's where I want to be in this episode, actually, where I'm just gonna be real with you on the mistakes and lessons that I've created.
0:51
SPEAKER_00: Yes, I will share the good.
0:52
SPEAKER_00: And yes, I'm actually starting this podcast episode sharing a story of how five years ago I was with my grandma.
0:59
SPEAKER_00: But there's just gonna be so much takeaways, and I think you'll just love how honest I am.
1:07
SPEAKER_00: So just want to make sure you go grab a pen and paper to take notes, unless you're driving, of course, and let's drop the beat.
1:25
SPEAKER_00: Elaine Lucartis, business and career coach for Woman of Color and Allies.
1:30
SPEAKER_00: And welcome to the Call Your Dreams podcast, where we have conscious conversations to help you create a business or career that is sustainable, abundant, and equitable to the lifestyle you deserve.
1:46
SPEAKER_00: Because our ancestors sacrificed so much so we could have this lack of choice.
1:51
SPEAKER_00: Now, grab your coffee, tea, and or boba, and let's call your dreams to create your legacy.
2:07
SPEAKER_00: Five years in business: the good, the bad, and what I predict about the online space.
2:15
SPEAKER_00: That's what I'm gonna go over today.
2:18
SPEAKER_00: But before I begin, I want to share where I was five years ago in my business, because there might be some of you starting, some of you at the same time around when I started, but just want to share my story.
2:34
SPEAKER_00: So five years ago, I was working at Pasany City College Foundation as a fundraiser.
2:41
SPEAKER_00: And to this day, by the way, I tell people it was my dream job.
2:47
SPEAKER_00: I got to give back, raise money for community college students.
2:52
SPEAKER_00: And because I was in a higher education institution, a government institution, in order for me to move up in terms of getting a salary, I had to go get a higher degree.
3:02
SPEAKER_00: So I went to go get my master's.
3:05
SPEAKER_00: And it was actually the day I graduated, my master's, where I realized, oh gosh, I've been following everyone's like expectations and what they expect from me, not really going after what I really wanted.
3:22
SPEAKER_00: And the day I graduated was about June of 2017.
3:27
SPEAKER_00: So that's actually the day I realized I want to start my own business.
3:33
SPEAKER_00: And five years ago, from the day that this podcast episode is coming out, that first day of business was actually the most perfect day you could describe it as.
3:46
SPEAKER_00: Actually, I took a day off of work.
3:48
SPEAKER_00: My grandma had an eye doctor's appointment.
3:51
SPEAKER_00: So I might as well take the day off.
3:52
SPEAKER_00: And that same day, I went to go register my business at the Secretary of State.
3:57
SPEAKER_00: So I had to drive there.
3:59
SPEAKER_00: And then before I actually took my grandma to the eye doctor appointment, I had a sales call.
4:06
SPEAKER_00: So the same day I registered, I actually got my first paying client.
4:11
SPEAKER_00: And I was just so much in surprise and shock.
4:16
SPEAKER_00: I didn't have any of the automations in terms of how to make payment.
4:20
SPEAKER_00: I was just connecting with her.
4:21
SPEAKER_00: She's like, actually, do you do this?
4:23
SPEAKER_00: I was like, yeah.
4:24
SPEAKER_00: And then I was like, okay, I'm gonna ask her, well, I would love to support you.
4:27
SPEAKER_00: And she said, yes.
4:28
SPEAKER_00: Okay, great.
4:28
SPEAKER_00: Well, I would love to take her credit card information.
4:31
SPEAKER_00: I had no credit card processing anything.
4:33
SPEAKER_00: I just literally wrote it pen to paper.
4:35
SPEAKER_00: Obviously, after I did figure out how to process it, I just crossed it out, crossed out all the information and actually also shredded it.
4:44
SPEAKER_00: And after I got my first paying client that day I started my business, I took my grandma out and went to the eye doctor appointment and then went to go in and out.
4:52
SPEAKER_00: And my grandma is so stubborn because being stubborn runs in the Filipino family where she we took her out to in and out and she couldn't like wait to eat the burger at my aunt's home where she lived at the time.
5:04
SPEAKER_00: She had to eat it in my car.
5:06
SPEAKER_00: Anyways, that is my story.
5:08
SPEAKER_00: That was my first day in business, taking a day off of work, signing up for my business at the Secretary of State, getting my first paying client, and hanging out with my grandma.
5:19
SPEAKER_00: And I just couldn't think of a perfect day because I was with my grandma.
5:24
SPEAKER_00: She's like the matriarch of my family.
5:26
SPEAKER_00: That really started all for my family, you know, immigrating here from the Philippines where she was a farm worker and just looking at not just me, but even my two brothers and my cousins, like the life that we've created, also understanding all the sacrifices made before us.
5:43
SPEAKER_00: As you can tell, I'm being very reflective.
5:46
SPEAKER_00: It is five years in business.
5:48
SPEAKER_00: So, anyways, you probably want to get to the juicy stuff, right?
5:51
SPEAKER_00: You want to know all the good things that's happened, the bad.
5:55
SPEAKER_00: By the way, my clients love learning all the mistakes and the lessons and the bad stuff that happens to me in hopes that they don't do the same thing.
6:03
SPEAKER_00: And here's what I will share with you.
6:05
SPEAKER_00: Yes, you will learn from my mistakes in this episode, but I cannot guarantee I will protect you.
6:10
SPEAKER_00: I'm not gonna be the protective mom here.
6:13
SPEAKER_00: But I hope that from you learning my mistakes and my lessons, that you'll be more aware.
6:20
SPEAKER_00: And by the way, those mistakes and lessons were so much needed.
6:24
SPEAKER_00: And I know I'm gonna make more throughout my business because that's the only way we grow.
6:30
SPEAKER_00: All right.
6:31
SPEAKER_00: So I want to share stat with you.
6:33
SPEAKER_00: According to the US Bureau of Labor Statistics, 45% of businesses fail in the first five years in business, 45%.
6:45
SPEAKER_00: And I also want to share, just because the other 55% didn't succeed, there's also nothing wrong with that.
6:54
SPEAKER_00: I get really frustrated when I see people online bragging about, like, oh my gosh, look, I'm so amazing.
7:00
SPEAKER_00: And everyone else that just sucks and didn't thrive in their business just sucks.
7:04
SPEAKER_00: Like, okay, whatever.
7:06
SPEAKER_00: Sometimes we just also realize, you know, I was actually working with a client.
7:10
SPEAKER_00: And three months in, she realized, you know what, Elaine, I don't want to start a business.
7:15
SPEAKER_00: At the same time, I'm so grateful I did try it.
7:18
SPEAKER_00: So even for those who might be contemplating if they don't want to continue on, there's also nothing wrong with that.
7:24
SPEAKER_00: Really, my insight here or my my intention for this podcast is for you just to hear me out and all the lessons that I've learned.
7:34
SPEAKER_00: All right, let's go to the good that has happened in my business.
7:41
SPEAKER_00: And I will share the reason why I'm starting with the good, because so often we think about like that last finish line, that big dream that we want to accomplish.
7:51
SPEAKER_00: One of the lessons is taking time to pause and celebrate those wins.
7:57
SPEAKER_00: And also, as a woman in America, we have gone through so much that you know what I deserve to brag about wins, and not just me, but you.
8:08
SPEAKER_00: All right, let me share the wins that my team and I have had in our business.
8:12
SPEAKER_00: And there's five of them.
8:13
SPEAKER_00: One, high six figures business.
8:15
SPEAKER_00: And sure, I may not have the high coveted seven figures.
8:20
SPEAKER_00: But my spirit animal is a tortoise, not the hare.
8:24
SPEAKER_00: Slow and steady wins the race.
8:26
SPEAKER_00: And what's been really important to me, it was was not like chasing that token of, oh my gosh, I need to brag about how much money I need to make, but really ensuring that I have the best client service for my clients and learning and growing from that.
8:41
SPEAKER_00: Two, in the past five years, serving close to 500 clients, where I get to experience the incredible wins as well as lessons my clients have learned, not just professionally, but personally.
8:57
SPEAKER_00: I just had one of my Color Your Dreams Inner Circle clients and Q2 with$82,000 cash in the bank.
9:07
SPEAKER_00: And not just the money, but she also had two vacations in Q2.
9:13
SPEAKER_00: By the way, if you want more information about the inner circle, you go to ElaineLou.com/slash inner circle.
9:20
SPEAKER_00: Oh, and side note, throughout the podcast episode, I'll be sharing other resources, right?
9:26
SPEAKER_00: Other podcast episodes to listen to, how you can learn about specific things.
9:31
SPEAKER_00: So just know you're gonna get so much resources from this to just delve in deeper.
9:37
SPEAKER_00: Third one, since July 4th, 2022, because that's the day I'm recording this podcast episode, we've hosted 54 events and retreats.
9:48
SPEAKER_00: Of the 54, about 52% were in person.
9:54
SPEAKER_00: So actually, that was 29 in person.
9:57
SPEAKER_00: Fourth is I've spoken around the world for different events and retreats, one including in Indonesia, another one in Sweden.
10:04
SPEAKER_00: I just came back from New York, where there were clients that came in from London that I spoke to through Lisa Johnson.
10:11
SPEAKER_00: I've also spoken to Fortune 500 companies like Universal Studios.
10:15
SPEAKER_00: And then the fifth one, and more important than all the stats and the numbers that I just shared, I feel so aligned to my business now as opposed to before.
10:27
SPEAKER_00: And mind you, one of my clients actually shared this with me, one of my former clients, Hyde Chong.
10:32
SPEAKER_00: So shout out to him.
10:32
SPEAKER_00: He shared every day the struggle and challenge is becoming the best version of ourselves.
10:38
SPEAKER_00: And I just feel like where I have my business now is the best version than where it was five years ago.
10:43
SPEAKER_00: And my intention is that every day, every month, every year, it becomes a better version of myself because I feel so aligned to my mission of helping women of color and allies create a more equitable, sustainable future.
10:57
SPEAKER_00: And let me just be real with all of you as I'm transitioning to share, you know, the bad lessons, the mistakes, that there has been times where I've wanted to quit my business.
11:10
SPEAKER_00: In fact, I completely understand why people have wanted to or have, because it is hard.
11:19
SPEAKER_00: You really have to work on so much in terms of just internal healing, the growth, and making sure you're distinguishing the difference between what is outside advice versus like what is your voice.
11:33
SPEAKER_00: And I'm not saying you shouldn't get a mentor, a guide, or coach, but even when you get that, it's up to you to discern is this aligned?
11:43
SPEAKER_00: So now that I've shared my wins, I actually kind of want to put a want you to pause on this podcast episode right now.
11:52
SPEAKER_00: Get a pen and paper and reflect what has been your wins in your business and life.
11:59
SPEAKER_00: I know it gets really hard to pause and think about this stuff, but it's important to just even think about it, right?
12:04
SPEAKER_00: Maybe it's creating a boundary around someone.
12:07
SPEAKER_00: Maybe it's not taking on a client that wasn't aligned.
12:11
SPEAKER_00: Maybe it's realizing that you had a service or product that wasn't aligned.
12:16
SPEAKER_00: Those are wins.
12:17
SPEAKER_00: It's not just the additional things to do, but those are important.
12:22
SPEAKER_00: So time to go through the bad.
12:26
SPEAKER_00: All the lessons learned.
12:28
SPEAKER_00: This is probably gonna be your favorite part.
12:30
SPEAKER_00: Actually, I know it's gonna be your favorite part because, like I said, my clients are so mean to me.
12:35
SPEAKER_00: They love when they learn their mistakes, like my mistakes, and how they can make sure that they don't repeat it.
12:42
SPEAKER_00: But hey, like I said earlier in this podcast episode, don't expect me to protect you from all the things that may happen.
12:50
SPEAKER_00: Because when things come up, they're there for a lesson, they're there to grow.
12:54
SPEAKER_00: And it's really up to you to decide what you are gonna do about it.
12:59
SPEAKER_00: All right, the lessons I wish someone told me about.
13:02
SPEAKER_00: And I have notes here.
13:04
SPEAKER_00: So there's 10.
13:06
SPEAKER_00: Yeah, there's 10 takeaways here on the bad stuff, the lessons, the mistakes.
13:11
SPEAKER_00: Number one, therapy.
13:13
SPEAKER_00: What, Elaine?
13:14
SPEAKER_00: Why are you talking about therapy?
13:15
SPEAKER_00: This is about like your five years in business.
13:17
SPEAKER_00: No, I'm gonna talk about therapy.
13:20
SPEAKER_00: And actually, in my next podcast episode after today's that I'm launching a week from now, I have I said this in the episode, but even as a coach, I will say therapy is more important than coaching.
13:33
SPEAKER_00: And here's the huge difference between therapy and coaching slash consulting.
13:38
SPEAKER_00: Therapy helps you really heal from the blocks of the past that you are not responsible for, right?
13:44
SPEAKER_00: So healing from the blocks of the past to help you be more present and help you with those future goals, right?
13:51
SPEAKER_00: And that's what a coach is.
13:53
SPEAKER_00: A coach is helping you with present-day goals, like how to hit your future goals.
13:58
SPEAKER_00: But you can't get those goals if you don't heal the shit from the past.
14:03
SPEAKER_00: So I have been to therapy since I was 18, and my recommendation, which I have shared in other podcast episodes, is EMDR therapy.
14:13
SPEAKER_00: And I will post in the show notes on how you could find an EMDR therapist.
14:17
SPEAKER_00: But what I love about EMDR is that it actually heals the trauma.
14:22
SPEAKER_00: The goal of therapy is not to continue being in therapy.
14:25
SPEAKER_00: The goal of therapy is actually to heal from the trauma so that when you're triggered in present day or in the future, you're able to move surpass that.
14:34
SPEAKER_00: And EMDR actually is the number one form of therapy for vets who suffer from PTSD.
14:42
SPEAKER_00: And a little thing about trauma, trauma is actually stored in the brain.
14:47
SPEAKER_00: So EMDR uses bilateral stimulation.
14:50
SPEAKER_00: So you're using your eyes to move, or you're um padding your shoulders from the left side to right side to actually rewire the trauma.
15:01
SPEAKER_00: So it's kind of like when you get in, you upgrade on your phone, right?
15:04
SPEAKER_00: And so the therapy and the healing doesn't just happen in the sessions, but even between the sessions.
15:10
SPEAKER_00: So to find an EMDR therapist close to you, you could go to psychologytoday.com or emdr-ia.org.
15:19
SPEAKER_00: Like I said, I'll put this in the show notes.
15:21
SPEAKER_00: And I know there's a lot of people that say, oh, it's hard to find a therapist because they have to be in network.
15:26
SPEAKER_00: Well, kind of call also bullshit on it because I used to think that way too.
15:32
SPEAKER_00: But you could also, if you have insurance, get therapy paid for.
15:35
SPEAKER_00: You just have to take the time to call your insurance company.
15:39
SPEAKER_00: And in all transparency, I actually went back to therapy.
15:43
SPEAKER_00: And I share this more in the next podcast episode, where I learned, and I didn't do this last time, where I called my insurance company and they're covering 70% of payment.
15:55
SPEAKER_00: So if you want to learn about therapy, just listen on to the next podcast episode.
16:00
SPEAKER_00: But in the meantime, I'm going to continue sharing with you my lessons.
16:04
SPEAKER_00: So the second thing, similar to what I talked about with therapy, is being brave and asking for help.
16:11
SPEAKER_00: This is hard, especially for my fellow women of color, people of color, where we grew up in this country where we were raised like you have all these resources, right?
16:24
SPEAKER_00: We have our phone, we have all the answers that we could Google.
16:28
SPEAKER_00: But at the same time, sometimes you just need that extra help.
16:31
SPEAKER_00: And I'm not just a coach or a mentor, but like I said, even getting help with therapy.
16:38
SPEAKER_00: One of the most frustrating things when I started my business was the numbers part and having to figure out bookkeeping and taxes.
16:47
SPEAKER_00: And those are two positions that I hired right away and shout to evolved finances helping me with my numbers.
16:54
SPEAKER_00: And not just business, but maybe it's also with your health.
16:59
SPEAKER_00: Like I have a nutritionist who I meet with once a month.
17:02
SPEAKER_00: So not every week, but once a month.
17:04
SPEAKER_00: But when you're brave and asking for help, the one commodity that's limited as humans, not it's not money, it's actually time.
17:12
SPEAKER_00: And when you have the right help, you get to the place where you want to faster.
17:17
SPEAKER_00: And like I said, not just business, but even the personal, the mental, the emotional, social.
17:22
SPEAKER_00: Guys, I have so much support.
17:25
SPEAKER_00: Like it takes a village because I have big dreams and goals.
17:30
SPEAKER_00: I know that I'm the first to have a business like this in my family.
17:38
SPEAKER_00: So I unfortunately don't have the resource of going to my parents or my family members for advice.
17:44
SPEAKER_00: So that's why I have always been brave enough to ask for help.
17:48
SPEAKER_00: It's kind of like when I had to apply for college.
17:50
SPEAKER_00: Even that process, I had to ask for help.
17:53
SPEAKER_00: All right.
17:53
SPEAKER_00: A third lesson I've learned being in five years in business, learn to improve your relationships with numbers.
18:00
SPEAKER_00: Shared this before.
18:00
SPEAKER_00: I was 55k in debt.
18:02
SPEAKER_00: I had to put ego aside, take a loan out where it was low interest to pay it off and do monthly payments.
18:10
SPEAKER_00: And guess what?
18:11
SPEAKER_00: Fortune 500 companies do this all the time where they're borrowing money.
18:15
SPEAKER_00: And as you all know, there was those PPP loans that was 0% interest.
18:19
SPEAKER_00: Like, you don't have to pay it back.
18:21
SPEAKER_00: That's my biggest regret.
18:22
SPEAKER_00: I was so cocky.
18:24
SPEAKER_00: Where in 2020, when those were out, I was like, well, I'm making so much money.
18:27
SPEAKER_00: I don't need it.
18:28
SPEAKER_00: I don't need the help.
18:28
SPEAKER_00: That was free money.
18:30
SPEAKER_00: By the way, if you want more help on how you can get accessible money, maybe to gain more capital, to help leverage a lower interest rate of money to pay off debt, I want you to listen to a podcast episode 16, where it's accessible money and advice for your BIPOC business with Axiom Opportunity Fund.
18:50
SPEAKER_00: And like I said earlier, I hired my bookkeeper to help me understand my numbers.
18:56
SPEAKER_00: So I work with Evolved Finance, who is well known in the online space.
19:01
SPEAKER_00: And there's another podcast, podcast 15, where I talk about the financial pitfalls to avoid in the coaching and consulting industry with Parker Stevenson.
19:11
SPEAKER_00: And as we're talking about numbers, it's not just working and healing your relationship with numbers, not just in a spiritual sense, but also if you are in a partnership in a relationship, making sure you have that conversation with your partner frequently, whatever that means to you.
19:28
SPEAKER_00: So I actually just had one with my boyfriend on Friday.
19:31
SPEAKER_00: We used to do it quarterly.
19:32
SPEAKER_00: Now we're moving forward to doing it monthly.
19:35
SPEAKER_00: And I know this is not like a sexy way of having a relationship, but hey, guess what?
19:40
SPEAKER_00: The number one reason why relationships break up or end is because of money.
19:45
SPEAKER_00: And if you see a future with someone, it's being able to have those conversations consistently.
19:52
SPEAKER_00: Okay, fourth lesson.
19:54
SPEAKER_00: The importance of pausing to reflect.
19:58
SPEAKER_00: It's so easy to be in the hamster wheel to get to the day-to-day grind, doing whatever calls, doing whatever content, delegating.
20:09
SPEAKER_00: But there is a power to pausing and taking time to reflect.
20:15
SPEAKER_00: Every week I have a CEO days and I don't just look at my numbers, but I even ask simple questions.
20:21
SPEAKER_00: What has been wins?
20:22
SPEAKER_00: What has been challenges?
20:24
SPEAKER_00: What has been aligned?
20:25
SPEAKER_00: What has not been aligned?
20:27
SPEAKER_00: And I go over more reflective questions in episode three on how to scale without copying everyone else, but just take time to pause and reflect.
20:36
SPEAKER_00: All right, tip number five, the lesson I've learned.
20:40
SPEAKER_00: The secret to scaling.
20:42
SPEAKER_00: And before I talk about what's the secret to scaling, I want to talk about what the definition of scaling is to me.
20:48
SPEAKER_00: It's not just what we see online of making all the money in the world.
20:53
SPEAKER_00: It's actually more important than that.
20:55
SPEAKER_00: It's having time, getting time back, not just in your business and in your life.
21:02
SPEAKER_00: And when you figure out what you can let go of, maybe it could be something as personal in your life where it's all get a house cleaner, or I don't need to do all my books and tax accounting.
21:14
SPEAKER_00: You get your time back, right?
21:16
SPEAKER_00: Just a reminder, it's really, it's really interesting.
21:19
SPEAKER_00: We we create a business because we don't want to be caught up in someone else's time.
21:24
SPEAKER_00: But then what you're gonna be a slave to your own business?
21:27
SPEAKER_00: It's about creating a sustainable, sustainable business.
21:31
SPEAKER_00: And that's the new sexy emphasis.
21:33
SPEAKER_00: It's not just making money, but making money sustainably and energetically.
21:39
SPEAKER_00: Like after I do this recording, I'm about to go to a July 4th barbecue.
21:45
SPEAKER_00: And I'm hungry and I'm so excited.
21:47
SPEAKER_00: But let me distract myself by continuing on this podcast episode.
21:52
SPEAKER_00: So if you want to learn more about the secret of scaling, you can listen to episode five on time and energy management to get your life back.
21:59
SPEAKER_00: By the way.
22:00
SPEAKER_00: These, I know I've listed out probably like four or five podcast episodes to listen to.
22:05
SPEAKER_00: You don't have to, by the way, they're just recommendations.
22:08
SPEAKER_00: I mean, what I'm sharing now you'll find helpful, but if you really want to delve deeper into these topics, you could go there.
22:14
SPEAKER_00: It's just, do you really want to listen to me for like three or four or five hours?
22:18
SPEAKER_00: I don't think so.
22:19
SPEAKER_00: And I don't think I could talk for, well, I technically can talk for three or five hours, but I'll undo that because that sounds really exhausting to listen to my voice, right?
22:29
SPEAKER_00: All right.
22:30
SPEAKER_00: So the sixth lesson is the importance of feedback.
22:35
SPEAKER_00: In order to grow and scale your business, it's important to get feedback, right?
22:40
SPEAKER_00: Think about even your own personal romantic relationships where you get feedback from a partner, and that improves your relationship and you.
22:49
SPEAKER_00: Even with my relationship with my boyfriend, we always like say, Hey, can I give you feedback?
22:53
SPEAKER_00: Right.
22:53
SPEAKER_00: And then we get feedback.
22:55
SPEAKER_00: And I'm really grateful that I have clients who have given me feedback on what I've needed to improve.
23:00
SPEAKER_00: Because look, hey, I know I'm an quote unquote expert.
23:03
SPEAKER_00: You might be a quote unquote expert, but we are human.
23:07
SPEAKER_00: We make mistakes.
23:08
SPEAKER_00: We are meant to evolve and learn my business that I have now.
23:15
SPEAKER_00: I help people that are more established versus beginners.
23:19
SPEAKER_00: So even from that change, I've had to get feedback on how I better serve my clients because what I did before, it's not going to help me to my next level.
23:29
SPEAKER_00: And even now, I'm making investments in my own business so I could serve my clients the right way and attract more of my ideal clients.
23:39
SPEAKER_00: So, number seven is it's not just about improving your marketing and sales.
23:45
SPEAKER_00: It's so easy, right?
23:46
SPEAKER_00: Like, oh gosh, I need to get more followers.
23:48
SPEAKER_00: How do I improve my email rates?
23:50
SPEAKER_00: Like, yes, those are all very important.
23:52
SPEAKER_00: Obviously, you need money, right?
23:53
SPEAKER_00: Marketing and sales is important, but it's also, what are you doing to improve internally?
23:58
SPEAKER_00: Right?
23:58
SPEAKER_00: Your finances.
23:59
SPEAKER_00: Are you looking at that?
24:00
SPEAKER_00: Do you know what your profit margins are?
24:03
SPEAKER_00: Your systems.
24:05
SPEAKER_00: Is it easy?
24:06
SPEAKER_00: Shout out, by the way, to my right hand person, Caitlin.
24:10
SPEAKER_00: Caitlin does so much in my business, and I'm just very grateful.
24:13
SPEAKER_00: She has helped me in my client service, says my systems.
24:17
SPEAKER_00: So it's not just about improving your external and your business, the marketing and sales, but internally, looking under the hood, the systems, money, and client service.
24:26
SPEAKER_00: It's like driving a cart.
24:28
SPEAKER_00: If you don't have a good engine, don't change the oil, then do you expect your cart to keep driving along?
24:33
SPEAKER_00: I don't think so.
24:35
SPEAKER_00: Lesson number eight, focus on your values.
24:38
SPEAKER_00: I'll be sharing this about the predictions on online space, but it's not just how much money you make or the results that your clients make.
24:48
SPEAKER_00: It's what are your values?
24:50
SPEAKER_00: What do you care about?
24:52
SPEAKER_00: I'll just share now.
24:53
SPEAKER_00: If a client or a mentor or someone that I've hired don't have the same values of D E and I being an ally, I cannot work with them.
25:05
SPEAKER_00: In fact, I was supposed to work with a mentor, a former mentor, like continue working with this person.
25:11
SPEAKER_00: But it was right around the George Floyd death, and this person said nothing about it.
25:16
SPEAKER_00: And I asked, hey, I noticed you haven't said anything.
25:19
SPEAKER_00: I know you do have POC in your comedian, your clients.
25:23
SPEAKER_00: Like, oh yeah, I should probably say something.
25:25
SPEAKER_00: Nothing ever happened.
25:26
SPEAKER_00: I didn't work with that person, and I will never work with that person because values are important to me.
25:32
SPEAKER_00: Number nine, this is not my line.
25:35
SPEAKER_00: I need to figure out who said this, but keep it simple, stupid.
25:39
SPEAKER_00: I know we sometimes want to do everything.
25:41
SPEAKER_00: We have so many beautiful, wonderful ideas, but we're given 24 hours in a day, seven days in a week.
25:47
SPEAKER_00: Decision fatigue happens.
25:49
SPEAKER_00: We have 30,000 decisions we make in a day.
25:52
SPEAKER_00: I was actually at a restaurant with my boyfriend.
25:55
SPEAKER_00: We were picking out wine.
25:56
SPEAKER_00: There was a book of probably 50 pages of wine to choose from.
26:01
SPEAKER_00: And it was so overwhelming that we had to tell Lyrachus, we don't know what to even decide.
26:07
SPEAKER_00: Someone finally came in, like, this is what we're looking for, then we got what we wanted.
26:10
SPEAKER_00: But it could be really overwhelming.
26:12
SPEAKER_00: But keep it simple, it's kind of like in and out.
26:17
SPEAKER_00: I'm from California, right?
26:19
SPEAKER_00: So we know they serve burgers and fries.
26:22
SPEAKER_00: They don't serve pizza and pasta, they serve burgers.
26:26
SPEAKER_00: And actually, my number one downloaded and listened to podcasts is episode nine.
26:33
SPEAKER_00: Why I'm ending my mastermind and how I'm simplifying my business and how you can simplify your business too.
26:39
SPEAKER_00: Actually, delve even more deeper on why it's so important to simplify your business.
26:44
SPEAKER_00: Tenth tip, the last tip.
26:47
SPEAKER_00: My favorite tip and my favorite lesson.
26:50
SPEAKER_00: What is your why?
26:52
SPEAKER_00: Why are you doing this business in the first place?
26:54
SPEAKER_00: Why did you leave doing a full-time job where there was benefits, where you're just working for yourself as your own boss?
27:01
SPEAKER_00: But if you have a team, you have a team.
27:02
SPEAKER_00: But what is your why?
27:04
SPEAKER_00: And my why is my family.
27:07
SPEAKER_00: My two grandmothers, Mamong, that's Grandma Lugano, and Nana.
27:12
SPEAKER_00: Mamong passed away last year.
27:15
SPEAKER_00: And then Nanung is in hospice and transition.
27:20
SPEAKER_00: She's been in transition for two years because of Filipino grandmas could be stubborn.
27:24
SPEAKER_00: And that's probably where I get my stubbornness from.
27:26
SPEAKER_00: But they're just the matrix in our family that have led this pathway for me and for my generation.
27:34
SPEAKER_00: I can't just take all the credit for it, right?
27:35
SPEAKER_00: It's like I know how many sacrifices were made before me.
27:40
SPEAKER_00: And I share this with my clients.
27:44
SPEAKER_00: I've shared this in other presentations.
27:46
SPEAKER_00: Whether you're a business owner or not, we have this amazing abundance of resources living in this country compared to generations before us.
27:57
SPEAKER_00: So if you want to be the best burger flipper, you go be the best burger flipper.
28:01
SPEAKER_00: For me, this is the choice I've decided to make to be a business and career coach for women of color and allies.
28:09
SPEAKER_00: And like I said before, I have questioned it many times.
28:11
SPEAKER_00: Like, no, I know what my why is.
28:14
SPEAKER_00: Like, I want to honor those before me.
28:16
SPEAKER_00: I love supporting fellow women of color and allies because I've been there.
28:21
SPEAKER_00: And seeing how my clients transform to be the best versions of themselves gives me such a natural high.
28:30
SPEAKER_00: So I want you to think about it.
28:32
SPEAKER_00: What is your why?
28:34
SPEAKER_00: Why are you creating this business and continuing to create it?
28:38
SPEAKER_00: All right.
28:39
SPEAKER_00: Those are my lessons.
28:40
SPEAKER_00: I shared through all the good that's happened, and then I shared the bad.
28:44
SPEAKER_00: And now my predictions of the online space.
28:47
SPEAKER_00: So I've been doing this for five years, and I'll be honest, I have been frustrated and jaded by the online space.
28:57
SPEAKER_00: I used to post so much online.
29:01
SPEAKER_00: I don't do it as much.
29:02
SPEAKER_00: If anything, my team has helped me.
29:05
SPEAKER_00: Actually, my team has helped me post the podcast stuff.
29:07
SPEAKER_00: And then if anything I want to post, I post it myself.
29:11
SPEAKER_00: Probably don't even I don't even post stories every day.
29:14
SPEAKER_00: I used to.
29:14
SPEAKER_00: This girl, this person you're listening to, me, Elaine, I did it live every single day on Facebook.
29:20
SPEAKER_00: I was crazy.
29:20
SPEAKER_00: I think that was like three years ago in 2019.
29:23
SPEAKER_00: But I have been frustrated and jaded because I came from the nonprofit sector where it's all about mission-based.
29:29
SPEAKER_00: I gave back.
29:30
SPEAKER_00: I mean, I raised over 1.1 million in six months for 200 scholarships, but we weren't bragging about the donors or the money.
29:39
SPEAKER_00: It was more so that 200 scholarships we got to raise.
29:44
SPEAKER_00: We showed stories of the students that we supported.
29:49
SPEAKER_00: And so when I got into the coaching industry, it was back in 2017.
29:53
SPEAKER_00: I kind of got confused.
29:54
SPEAKER_00: I was like, wait, hold on.
29:55
SPEAKER_00: Why are all these coaches like holding these luxury items?
30:00
SPEAKER_00: And like, like, there's nothing wrong with having luxury items, but that was the forefront of their marketing as opposed to the marketing of the service, right?
30:08
SPEAKER_00: In the nonprofit world, when you are marketing, you're showing the service, the impact that you are creating, the legacies that you are creating.
30:15
SPEAKER_00: And that's what I was expecting.
30:19
SPEAKER_00: And I'll be honest, I got caught up on that stuff.
30:21
SPEAKER_00: You know, I had to relearn things.
30:24
SPEAKER_00: Thank God for self-awareness, for therapy on caching these things, relearning and learning.
30:31
SPEAKER_00: So here are five predictions that I have.
30:34
SPEAKER_00: One, it's no longer going to be all about the money.
30:38
SPEAKER_00: For those of you that have been following me for a while, not just listening to my podcast, but maybe even on social media, you might have realized that I stopped posting every Monday on Instagram and Facebook.
30:49
SPEAKER_00: My client went on social media.
30:52
SPEAKER_00: I just no longer felt aligned.
30:54
SPEAKER_00: I was catching myself where the focus was all about money.
30:57
SPEAKER_00: And I wanted potential clients and even my clients to know it wasn't just the money.
31:03
SPEAKER_00: It was also living a life of aligned values.
31:07
SPEAKER_00: And in the past two years of the pandemic, not just as a business owner, but as a human, as a human being, we've realized what's more important.
31:18
SPEAKER_00: And that's being present with loved ones.
31:20
SPEAKER_00: A lot of us have lost loved ones, whether it was through COVID or other things, but it's not all about the money.
31:27
SPEAKER_00: I think we'll start seeing how the posting and the bragging about numbers, it's it's not gonna be why someone wants to convert.
31:38
SPEAKER_00: I mean, it's not gonna be the only thing, I should say that.
31:41
SPEAKER_00: It has to be more substance, knowing more of the person behind it, their values, what they stand for.
31:48
SPEAKER_00: Number two, speaking of what you stand for, making sure you're working with those aligned to your values, whether it is a mentor and your clients.
31:57
SPEAKER_00: I don't need to list all the shit that us millennials have gone through the past two years, our whole life, not just millennials, but just our lifetime, anyone that's alive right now, obviously that's listening to it.
32:09
SPEAKER_00: But man, we have gone through a lot.
32:12
SPEAKER_00: And I said this earlier in the episode, but I can't work with anyone that doesn't align with the importance of DNI and allyship.
32:22
SPEAKER_00: And I'm not saying that people have to be perfect when it comes to this, but being open to learn.
32:28
SPEAKER_00: Because even as a woman of color, I have to learn educate myself.
32:33
SPEAKER_00: There have been mistakes I have made, and it's the ability to be open and learning from it.
32:40
SPEAKER_00: All right, third prediction I have.
32:43
SPEAKER_00: The importance of service providers giving a damn about you, the client, versus the number of followers.
32:49
SPEAKER_00: We think when we see like the outside sense of what success looks like, like number of followers, how beautiful the photography looks like.
32:56
SPEAKER_00: By the way, I am not saying it's not important to grow your audience.
33:00
SPEAKER_00: Obviously, it is important to grow your audience and to have those nice professional photos, but not all the time.
33:06
SPEAKER_00: I'm sure you guys know about the show called Keeping Up with the Kardashians.
33:10
SPEAKER_00: That term actually comes from the phrase keeping up with the Joneses, like keeping up with having to look like you have everything.
33:17
SPEAKER_00: And I'll be honest, I got caught up where I was like, oh, it needs to look a certain way, but it doesn't.
33:25
SPEAKER_00: The reality is, is what are you doing for your clients who give a damn about themselves?
33:30
SPEAKER_00: I have unfortunately been in the other side of it where I was like, oh, they seem like they have it all, then they convert me as a client, and then there's no substance to the service, and there needs to be substance.
33:42
SPEAKER_00: Okay, fourth prediction.
33:44
SPEAKER_00: I'll be honest, I'm saying this prediction because I hope it happens.
33:47
SPEAKER_00: Moving from cancel culture to conscious conversations.
33:51
SPEAKER_00: This is important, not just as a business, but in society.
33:56
SPEAKER_00: There's actually research that shows that when you have negative energy charged posts, you're gonna get more traction.
34:03
SPEAKER_00: That's why you see those posts on Twitter, Instagram, Facebook move up.
34:08
SPEAKER_00: But the reality is if we want to change and move the world to having those conscious conversations.
34:13
SPEAKER_00: I have seen posts where I'm like, uh, that doesn't come off right.
34:17
SPEAKER_00: Where I have personally sent a message to that person, hey, this doesn't come off right.
34:22
SPEAKER_00: And this is why I just want to share that with you.
34:25
SPEAKER_00: By the way, you do not have to be like the conscious conversation police, but figure out if you decide you want to give that feedback.
34:34
SPEAKER_00: And there has been times where my own clients, my audience, my mentors have also had conscious conversations.
34:42
SPEAKER_00: And I would rather have people have those one-to-one conversations with me of what I could do to be better, as opposed to like calling me out.
34:51
SPEAKER_00: And I make sure I do that whenever I see something where I'm like, uh, that just does not feel right.
34:56
SPEAKER_00: Fifth thing that I'm predicting kind of alluded to this from the lessons I've learned, but the importance of educating ourselves to create an ethical business and safe spaces for your clients.
35:10
SPEAKER_00: And it does start like in that conversion and the sales.
35:13
SPEAKER_00: And I hate to admit it, I used to use aggressive sales tactics.
35:18
SPEAKER_00: I worked with a former coach, taught me, like, hey, never leave a call until down payment using the scarcity shit or the pressure of bonuses if you buy now.
35:28
SPEAKER_00: That's just not gonna work moving forward.
35:31
SPEAKER_00: And I am not doing that anymore, thank God.
35:34
SPEAKER_00: But like I said, I got caught up on that stuff myself.
35:37
SPEAKER_00: And when it comes to serving the importance of being trauma-informed, a shout out to one of my mentors, Adria Moses.
35:44
SPEAKER_00: I took a trauma-informed certification through her school of radical healing.
35:49
SPEAKER_00: I'm not a therapist, I'm not here to heal someone.
35:52
SPEAKER_00: That's a therapist jobs, but how do you hold space, especially for fellow service providers who hold space for individuals?
35:59
SPEAKER_00: It's important to educate yourself on how you ethically hold space.
36:03
SPEAKER_00: Understand when you need to refer someone to a therapist.
36:09
SPEAKER_00: This is so important to me right now in this stage of business.
36:12
SPEAKER_00: I mean, I'm in my fifth year in business, and I'm actually planning to get an international coaching federation certification because it's so important for me to continue to hold safe and ethical spaces for my clients.
36:26
SPEAKER_00: And I want to share something that two of my DI mentors shared with me that I've learned.
36:33
SPEAKER_00: So I work with Eric and India of Pause on the Play.
36:36
SPEAKER_00: And they shared, you don't get to say it's a safe space for your clients.
36:41
SPEAKER_00: It's your clients who share that.
36:43
SPEAKER_00: It's your clients that make the decision if it's a safe space or not.
36:46
SPEAKER_00: By the way, we delve deeper on podcast episode six on charging your worth as a woman of color and being an imperfect ally.
36:53
SPEAKER_00: So shout out to Eric and India for Pause on the Play, just helping me be a better ally to others.
37:00
SPEAKER_00: And with that all being said, there is a needed cleanse that's happening right now in the online space.
37:06
SPEAKER_00: And I am here for it.
37:10
SPEAKER_00: I'm excited because, like I said, I was tainted coming to this coaching world.
37:15
SPEAKER_00: And I think it's just gonna be for the better, where it's focused on the service space.
37:20
SPEAKER_00: Because as I said earlier, my spirit animal is being a tortoise, slow and steady wins the race.
37:28
SPEAKER_00: And I'm focused on ensuring I'm providing the best service for my clients, for women of color and allies to create a sustainable and equitable future.
37:40
SPEAKER_00: So I know that was a lot, right?
37:44
SPEAKER_00: To just take in.
37:47
SPEAKER_00: And as I'm celebrating my five years in business, here's my reflective question and my action item for you.
37:55
SPEAKER_00: My action item is after this episode, can you just pause and reflect?
38:01
SPEAKER_00: And then here are the reflective questions.
38:03
SPEAKER_00: One, what has been amazing wins that you've created in your business?
38:10
SPEAKER_00: That is one.
38:11
SPEAKER_00: And then two, what is your why?
38:14
SPEAKER_00: Why are you doing this in the first place?
38:16
SPEAKER_00: I know that's like not a business or strategy thing, but it like I said earlier, it's easy to be so caught up in doing the day-to-day, but it's also really important to celebrate you and remember what your why is.com or DM me on Instagram at ElaineLou underscore.
38:45
SPEAKER_00: And if you know someone that would benefit from this episode, share it.
38:51
SPEAKER_00: I just wanted to share the good and the bad with you because no one talks about the bad.
38:57
SPEAKER_00: It's so easy, right?
38:58
SPEAKER_00: To post like this amazing picture and like look at me, it's so amazing.
39:02
SPEAKER_00: But it's so important, not just for me, but for you, right?
39:06
SPEAKER_00: To reflect on lessons and the mistakes in our business and in our life because it helps teach us lessons to realign and be more intentional where we we are creating a business that aligns to our life and lifestyle.
39:23
SPEAKER_00: And what I mean by realigning to our life and lifestyle is spending more time with loved ones and going on vacation.
39:33
SPEAKER_00: Maybe it's not going on vacation, maybe it's just like I just need a rest.
39:37
SPEAKER_00: I want to Netflix and chill, but that doesn't matter.
39:40
SPEAKER_00: You get to define what success and abundance looks like.
39:44
SPEAKER_00: And I'm here to support you to create a business that provides a sustainable and equitable future.
39:51
SPEAKER_00: So if you're interested in working with me and my team, schedule a complimentary 30-minute legacy business and career review where we will identify your personal and professional goals.
40:05
SPEAKER_00: And by the end of 30 minutes, you're gonna get three action items towards the end of the call.
40:11
SPEAKER_00: And if we're not a great fit, that's fine.
40:13
SPEAKER_00: But I'll refer you to other resources people because I believe in integrity and honesty.
40:19
SPEAKER_00: And I know I'm not meant for everybody, but I'm here to serve.
40:23
SPEAKER_00: But I can't wait to hear from you and hear your biggest takeaways from this episode.
40:32
SPEAKER_00: Legacy Maker, if you love this call your dreams episode, we would love it if you can leave a rating and review on Apple.
40:41
SPEAKER_00: So more women of color and allies can benefit too.
40:46
SPEAKER_00: And if you have one or two friends that would get so much from this particular episode, please share.
40:54
SPEAKER_00: The intention behind the Call Your Dreams podcast was to contribute and give back to our people.
41:01
SPEAKER_00: All right.