Michele Williams is a certified Profit First professional who’s helping creative business owners focus on the financial health and profitability of their companies. She believes that each choice determines profitability. Through her consulting agency, Scarlet Thread Consulting, Michele helps her clients understand the impact their choices have on the financial success of their businesses.
In this episode, Michele shares how she began her journey as entrepreneur, her challenges, lessons learned, and how she’s grown personally and professionally.
We covered a lot during this conversation. Here are some key takeaways:
- How to stay encouraged as a new business owner who hasn’t made a profit yet
- Tips to help new business owners ensure profitability
- The concept of negative profit
- What lack of profitability will do to your passion
- The importance of creating boundaries in your business
- The difference between knowledge and expertise and what people pay for
- How to recognize and overcome impostor syndrome
- What it means to “connect the dots” in business
- A value document and why you need one
Resources Mentioned by Michele:
Strengths Finder 2.0, by Tom Rath (book)
The Toilet Paper Entrepreneur, by Mike Michalowicz (book)
Backwards Financials for The Win, episode 011 from Michele’s podcast: https://www.scarletthreadconsulting.com/profit-is-a-choice-episodes/backwards-financials
Understanding Your Financials, Michele’s online course:
Where You Can Find Michele Online:
Facebook: Scarlet Thread Consulting Business Page
I hope that you learned something valuable from my conversation with Michele Williams. Most of all, remember that you have the power to choose success and profitability in your business. You may not have all the answers right now, but you’ll learn what you need to keep growing to build a solid business.
If you’d like support with moving forward, I’d love to chat with you. Send me an email at Erica@momswithdreams.com or leave a comment below.
I’ll be back next week with more inspiration and education to keep you empowered on the journey to your dreams.
Until next time, Reclaim YOUR dream. Do what YOU love. Make a difference.