#115: Looking Back. Looking Forward. The Power of Doing an Annual Business Review.

Show Notes

Looking at things as they are, rather than as we would like them to be, enables us to set an intention and make sure that everything that is under our control is in line with that intention. 

With that goal in mind, co-hosts Lori Vajda and Nola Boea take a realistic look back at the challenges, opportunities, and triumphs that made the year, as well as some of the new directions and new ventures they have planned for the future. And while our experiences may be somewhat unique to us, we feel there are insights you can apply to your own journey, or at the very least, find inspiration in our sharing.
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Tune in and hear what they’ve learned about themselves; it just might help you plan your most successful business launch in the New Year. 

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In This Episode You’ll Learn 

• Two easy questions to help you evaluate the past year: What went well this year? What didn’t go well this year?
• Why it’s important to ask yourself which decision you are really proud of. 
• By making your review public or sharing it with friends, you release the hold that admitting your fears and mistakes has on you while also celebrating the wins with your support system. 

Key points Lori and Nola are sharing in this episode:

(02:19:75) Running a business takes time; however, we often lose track of time, which, if left unchecked, can have these known and unknown effects on your business.

(05:30:96) Launching a business is all about refinement. If you think of it not as a destination but as a journey, you’ll be more agile, and that can lead to bigger and better outcomes. 

(08:59:41) A few helpful tips that we learned about running a business from a few of our podcast guests.

(15:49:03) Tried and true tips for staying motivated when life presents challenges.

Resources 

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Transcript

[00:00:00] Nola: The year end is traditionally a time of both closure and new beginnings. Amidst the flurry of holiday activities or after the dust is settled, take time to slow down and go inward. It's a prime opportunity to do these four things: One, reflect on your successes and challenges over the past year. Two, articulate lessons learned. After all, there is no such thing as failure. Three, evaluate what is most important to you both in business and in life. Four, set new intentions for the coming year.

Looking back helps you identify those things that you want to do differently and those things that you want to hold fast to so you can adjust the trajectory of your future. For me and Lori, that means looking back not only on 2022 and not only on the two years of producing this podcast show, but on the three years since we began our Sticky Brand Lab. Stay tuned, friend, because in this episode we're going to do things a little differently. We're going to interview each other about challenges, insights, and lessons learned from our entrepreneurial journey, as well as our vision for the future. And while our experiences may be somewhat unique to us, we feel there are insights you can apply to your own journey, or at the very least, find inspiration in our sharing.

[00:01:25] Announcer: You are listening to the Sticky Brand Lab podcast where times strapped professionals like you learn how to create a business you love in as little as three hours a week.

[00:01:35] Lori: Often it's only in looking back that you see how far you've come. And for Nola and myself, in looking back, we have each developed professionally, we've each learned useful business lessons, and we've each faced obstacles that have sparked personal and professional growth in different and surprising ways. As we ask each other questions, we encourage you to do the same and find a quiet time to contemplate your own answers. So let's get started.

Nola, over the past year or three years of working on Sticky Brand Lab, what is one lesson that you've learned about running a podcast business?

[00:02:19] Nola: Well, I'm answering it not only about a podcast business, but really business in general because Sticky Brand Lab is more than a podcast.

But I would say I have reset my expectations surrounding time. Okay, so let's put it this way. You might turn on your podcast and it's done in 20 minutes, maybe 30 minutes, maybe an hour. But I found that for every 10 minutes of a podcast, there are probably anywhere from two to four hours of work that goes into making that, if it's done with all the bells and whistles that we try to do. And in fact, we've actually reset those expectations to some degree and we can get into that. But that's one aspect of resetting the expectation of time, or at least gaining a realistic sense of time, and that is, how much goes into creating a final result.

The other aspect of time is that I found that it just takes time, especially with the podcast, and this is true with any business, it takes time to gain traction. So when you jump in motivated, you need to have that long-term vision. Always keep it in front of you because you hear the stories of the overnight successes, and those are stories because they're unusual. But the norm is it takes time and it's only those people who are consistent that actually see the traction, or I would say it's usually 99 percent of the people who are successful do it because they have been consistent for many, many years or for years prior to that success.

[00:03:58] Lori: I agree with everything that you've just said. It takes longer than you think. It costs more than you think, and there really is no overnight success. Even people who are considered overnight success will tell you, they often cite how many years it took for them to become the overnight success.

[00:04:16] Nola: So, Lori, what is one lesson you learned about running a business and a podcast?

[00:04:23] Lori: I think that best laid plans are just that. Best laid. So here's a quote that I think kind of sums up a great lesson: "Perfection is procrastination in disguise." And I have focused so much so often on trying to make it right, trying to make it perfect instead of just kind of going in there and knowing that it's much easier to edit than create. And create has a starting point. So just do it. When they say just do it or Nike's little, "Just do it," there's something to be said for just get in there and start because it's there that you can edit. You can't do that until you have something tangible.

[00:05:12] Nola: That's why early on we started telling each other, just say yes to the mess.

[00:05:16] Lori: Yes. Yes, exactly.

[00:05:19] Nola: So what skill sets did you acquire or did you improve upon during this venture?

[00:05:26] Lori: So many. I feel like having a podcast or launching a business is all about refinement. So it's not a destination, it's a journey. I have learned even the things that I thought I was good at, which was writing a script or telling a story, or having an idea of the why behind our business. Being agile, going with the flow, leaning into it, not being locked into the outcome. All of those things that people talk about are valid, but until you practice them, that's only when you realize that you are not as agile as you think. That you are more of a perfectionist than you think. That you get embarrassed by making mistakes. Or you have to put that critical self-judgment to the side. All of those things that you think you know, because you can think them through, really don't apply until you put them into action. What skillsets have you acquired or improved upon since we began?

[00:06:38] Nola: I understand there's this term called the halo effect, where something that you improve upon or you learn in one aspect of your life, carries over and can apply to other aspects of your life. And I will say that looking back on doing this podcast, especially the podcasting part, where we actually had to put our face in front of a microphone and even watch ourselves on camera and then get people who were somewhat strangers, and act like we know what, what we're doing. To me, initially I was a nervous freaking wreck. And I was clinging to a word-for-word script that was only meant to be an outline. And I was reading it and just clinging to it. And if you decided to ad lib or talk naturally, I just totally freaked out. I lost, I shut down. It's like, oh, retake, retake. Retake. From there.

However, I will say the skillset I've learned is better, one, communication, in that I've gained my confidence in having to speak. Since then, over these last three years, I've been in more and more forums where I've had to speak just off the cuff, often in front of more and more people, and I've also had to learn how to articulate briefly, which is something we have to do. Either we speak briefly or we edit a lot.

[00:07:56] Lori: Yes, that's true.

[00:07:57] Nola: So I've, I've learned how to nutshell answers often so there's that confidence. I also will say that the articulating communication skills, so part of that communication skills and confidence, they go hand in hand. So you and I have had this running joke, that as soon as we're about to start the podcast, I have to cough. My throat basically seizes up, tickles, and I start hacking away. And I have water by my desk. I've tried to clear all my sinuses before a show, and I would think I'm feeling perfectly confident, but I think there's always that little nagging like, help, I gotta talk next. Oh no. And I have noticed that only recently, I've had to hack less, I've been able to launch in with much more ease and confidence without my throat constricting. So that's a skillset. Being able to talk without gagging. They sure are.

[00:08:57] Lori: So here's a question for you. What's one helpful tip that you learned about running a business from somebody that we've interviewed from one of our podcasts?

[00:09:08] Nola: We've had so many, and there are a couple that really stand out. But one had business advice that really created a paradigm shift for me, and that was Barbara Fonte who was talking about selling. And so many of us cringe about the thought of selling, but it's like we think of it as a necessary evil, which is not the right way to approach it. And she's like, wait a minute, you're not selling. You're serving. And especially when you have that heart. And I think with women, we do, we have something that we believe will help other people. And selling is presenting it and giving an opportunity for people to be aware of it and to make a decision. But if you're not offering that opportunity, you're actually doing them a disservice because you're withholding the very thing that could make their lives easier, and it's a paradigm shift.

[00:09:56] Lori: Good answer there.

[00:09:57] Nola: What is one tip that you learned about running a business from one of our guests?

[00:10:01] Lori: You remember when we interviewed Igor?

[00:10:04] Nola: Yes. Igor Belagoruski.

[00:10:07] Lori: One of the things that I think really struck me about his answer in our interview, he was very authentic in talking about the number of business ideas that he's had that failed. And it was such a mind-blowing moment because I think in general when for women, at least, we hesitate about admitting we don't know something or trying something that we haven't practiced being green at it. And here was this man who was talking about the fact that he had started many businesses that didn't work, but each one of them taught him something. Some of them were more successful in different ways than others, and it didn't stop him from continuing with his entrepreneurial journey. So for me, he was amazing.

[00:10:58] Nola: Having heard his stories about one failure after the other, after the other, and what he learned about them and his whole story, not only did he gain credibility in my eyes, but I felt like I was getting the inside scoop of what it's like to be a serial entrepreneur, because he really was. So, it was really interesting how every time he learned a lesson and then he just turned around and spotted a new opportunity.

[00:11:25] Lori: Yeah, he didn't make it personal. He made it about business.

[00:11:28] Nola: Is there a particular guest overall that stands out from our last couple of years? If so, why?

[00:11:36] Lori: Yeah, it would definitely be Natalie Nixon. She wrote the book Creativity Leap, and her company is Figure Eight Thinking. And the reason that she stands out for me was she had written this book and she won something for her company being innovative. She's a professor. She was one of those first stretch guests that I invited to be on our podcast. And not only did I hold her in such high esteem, but when she said yes, I was like high fiving myself because they say it's always no unless you ask. It was one of those situations that I didn't expect. I really wanted her, I loved her book, but I had to ask the question and I was so fearful. I was shaking in my boots when I pressed send in my request, and she said yes, and I was so excited. So she stands out and I've had other guests along the way that have been stretch guests for me, and I still get excited when that happens and somebody says yes to me, and more often than not, I get a guest to appear just simply because I asked. What about for you?

[00:12:55] Nola: Certainly. And I have enjoyed all of our guests. Sometimes I regret that it's only a 30-minute podcast. I mean, there are others, what is it, Joe Rogan can talk for four hours and people listen to that. But hey. Oh, well.

Yeah, we're not Joe.

We're not there. Yeah. But there is one that stands out and that's Karrie Brazaski. She runs Redwood Executive Coaching. Her specialty is two-pronged. One, she helps companies, especially those in the healthcare industry to put programs in place that will keep their employees from being burned out. And she helps, especially people in the medical or health field who have experienced burnout, helps people to identify it and to navigate through it. And we interviewed her because we recognized that burnout can be hazardous for entrepreneurs, especially female entrepreneurs who may be juggling other hats, especially if they're also running a side business and have a full-time job and have a family and, and, and.

So we invited her on the show, and as she started talking about the signs and the symptoms of overwhelm and of burnout, I started like having little popcorn, or light bulbs, go pop, pop, pop, pop, pop, pop. As I checked, she would describe something and go, yeah, mm-hmm. that's, oh, yeah.

So it really was an epiphany because it's like, okay, I'm feeling this way and it seems like she has some answers. So she did. And after she went through her list, whatever I could, I immediately put into action. Because at the time I was under a lot of stress, both professionally, family health issues going on. We were moving. A lot of different high stress things going on that made me just wonder, where do I turn? What do I do? And so I was having trouble sleeping. I was gaining weight from, I guess, cortisol and ice cream. Take your pick. . . That's a comfort food, but not really self-care.

But anyway, I immediately put some of those tips into action. I got myself a sleeping eye mask. I downloaded a meditation app. I started using it and kind of, you know, I still do when I can. It helped me prioritize that. So once I put everything into action immediately... Again, perfection is a vision to work toward, but it really helped me cope and realize that I can get over these things and what to do. I know now what it feels like when I need to be proactive. It's like, okay, I'm feeling these symptoms. I'm recognizing the signs. I need to make some choices, even if it's temporary, just to make sure that I can engage in all of my obligations and all of my interests over the long term.

[00:15:44] Lori: Thanks for sharing that, Nola. Here's my next question for you. How have you stayed motivated when life has thrown you some incredible challenges and put incredible demands on your time and attention, especially given all, you moved, covid happened over the last couple of years, we launched this over the last couple of years, so there's been a lot on your plate. How have you stayed motivated?

[00:16:15] Nola: Well, that's a good question. First of all, I really believe in what Sticky Brand Lab stands for. I really believe in what we're doing, and I really believe that for the right people we're making a difference. Call me crazy. Say it's hokey. I don't care. We geek out over this stuff, but our hearts are to help people. And I really think that we're doing good. And so to think about this is helpful. And I don't want retract what this help that we're offering. Number two is, I want to say routine, and let me give you an analogy. For those who are wanting to write a book or write something significant, they're often told, just write. Whether you feel like it or not, just write. And I have been a writer of different types over my career, and there are times where I know that I don't have it in me. I know it's going to suck at first, but I'm just going to get it out there so I can say I did it and I'll go back later and I don't really care and I don't even want to be here. But I will do it and the next day I'll go back to that writing and I'll go, oh, that really wasn't half bad after all. And now I'm like over the hump.

It's very similar to that. There are times where I'll have such a stressful day in my day job, or there's like other things I should be doing, other tasks, other duties, or I really just want to go to sleep, you know? But just sitting in the chair when we work on Zoom, getting on there, showing up, I guess that's it. Just showing up actually is the hardest part. And once I show up, it's all downhill from there. So that's number two.

Number three is, having a partner like you actually keeps me accountable. If I didn't show up, you'd be saying, Hey Nola, where are ya? And I will say it's very helpful. Because there have been times in other businesses that I've launched, or I've tried to launch, and I've only gotten so far, or I've kept it very small of scale. And really, while each one could have gone somewhere, I reached that same level of stress or that same type of obstacle where it's like I just can't go on any farther. But I also didn't have anybody to say, Hey, are you going to show up? Perhaps these would've gone farther or been bigger, if there was somebody to be accountable to. So there is something to be said about having a partner. So those are my three-pronged answer to how I stay motivated.

[00:18:38] Lori: I love your answer.

[00:18:39] Nola: So what about you? How have you stayed motivated when, oh my goodness, life challenged you in some extreme ways and demanded your attention?

[00:18:48] Lori: Well, when we originally had the idea for the podcast, we were both living in Florida, and over the course of thinking that through, I got diagnosed with cancer and that took me from Florida to Houston, Texas so that I could receive treatment. And the podcast shifted from an idea to a lifeline because it was part of my recovery road. It gave me something future to think about, a goal to reach out to. So in that sense, the motivation was because it was a lifeline.

The second part of that was really having you as my partner. And it wasn't in the same way, being accountable, as much as it was, not only could I see your own growth happening, but I saw you bringing out the best in me and giving me a platform. But it's true. Because I think in order to grow, you have to be in relation to another person. They're a mirror for you. And if you're on the right track, like I think we have been, you see the best in yourself coming out and you're helping to bring out the best in the other person. And when you're off track, you're almost like butting heads. It's not moving in that same direction. So I think that has been a real inspiration.

And the final thing is also feeling like there's something very important that we're doing. We're in service to others. People's stories are very motivational, they're inspiring, and that inspiration is motivating. I want to share people's stories with the world. I want people, particularly women who might not have a mentor or an advisor in business or entrepreneurship that they can go to, to look at this podcast as us being that, or our guests being that for them.

Like you, I had a three-prong answer, but each of those have been really paramount for me in what we do.

[00:21:04] Nola: Well, that's very insightful. I was not expecting those answers, so.

[00:21:09] Lori: Yep. We couldn't rehearse those.

[00:21:11] Nola: This has been very cool. Well, these last five questions have all been about looking back. So now let's look forward. What is one thing that you want to focus on during this coming year?

[00:21:26] Lori: I don't have one thing. I have multiple things, but I'm only going to focus on two. Our podcast has been about helping entrepreneurial-minded or aspiring-minded entrepreneurs start and launch a business. And you and I have had the philosophy of, do it at low cost, no cost, or DIY where you can, because so much is going to happen and change your viewpoint and you won't know that until you launch. So don't invest a lot to get started. Invest as little as possible. And be agile. So for me, that agility is about in 2023, moving from just audio to including video. And that learning is going to be about mastering the video production of our podcast. So I'm looking forward to that.

And then the other aspect of this, also launching in 2023, is a business vertical, if you will, which is to introduce mini pods, B2B aspect of doing podcasts to brands. So I'm looking forward to that and explaining more of that as we get farther along into 2023.

So Nola, likewise, the question applies to you. What's one thing that you want to focus on in this coming year?

[00:22:59] Nola: Well, my two answers, one applies to business and one applies to personal. Business-wise, knowing that we want to increase the listenership, we want to increase our audience and we want to serve them in many more ways, video among other things, and we want to grow our business client base. This is natural growth. So my focus for this year is to , come up with a model for how we can scale. Because like you had just said, when you're starting out, you're doing everything, bootstrapped. You're doing everything at DIY until you can pivot. And as you have said, you pivot over time and then when you're really in a groove, that's when you can kind of scale. And so I think in many ways, we are ready. So focusing on a business model that will allow us to now let go of some of the DIY and start positioning ourselves for that scale.

[00:23:57] Lori: Those are good answers.

[00:23:59] Nola: My second focus, that is practicing presence, practicing being in the moment. And that's relevant because I find that if I'm not practicing being in the moment, I get sucked into the details, into the panic of what's right in front of me. Whereas if I am being present, I'm able to step back, see the big picture, see this problem as just a blip in an overarching bird's eye view of something that's really positive, and I'm less likely to freak out. I'm more likely to remain relatively calm. That doesn't mean I don't take issues seriously, but I'm better able to handle them if I'm present. And so there are all kinds of ways to do that, but that's going to be my focus for this year.

[00:24:49] Lori: I love your answer. That's really good.

[00:24:52] Nola: Thank you.

[00:24:52] Lori: So as we get close to the end of this episode and continue to look forward, who is one person behind the scenes you'd like to give a shout out to? When they say you can't run a business on your own, there's a team or a tribe. There's a lot of truth to that, and we have those people in our life. So who's somebody that you'd like to give a shout out to, that have really helped us become the entrepreneurs that we strive to be?

[00:25:24] Nola: Well, you pretty much gave the introduction. We have a fantastic team behind us led by Kai Villanova. We want to give a shout out to Kai, who helps us produce really quality audio. We have a very stringent quality control process, and she is a huge part of that. And in fact, we have heard from our guests that, wow, you made us sound better than I really do. And we can thank Kai Villanova for that and for the quality control and the editing help that she gives us. She rocks.

[00:26:04] Lori: Yeah. Each episode goes through a minimum of three edits. You set the stage, Kai helps, and I think I do the final version. Sometimes it goes through more than three, but it doesn't go through less than three. So when you were talking at the beginning about it takes longer, we really got very picky about the quality of our show, and that's been a differentiator for us as well. So I'm glad that even though it's been a lot, I'm glad that we have not neglected it, that we've braced it, we accept it, and we continue with it.

[00:26:43] Nola: So who is one person behind the scenes, Lori, that you'd like to give a shout out to?

[00:26:49] Lori: I'm going to give a shout out to my husband because what many people might not know is my husband Josh Vajda is actually our announcer voice. So that he has been on every episode that we have done. But also because the journey has been not a straight road, it's been kind of all over the place, and he has been, I feel my number one fan, and my number one supporter. And gave me in particular the space to really dive into podcasting with all my heart, and I am grateful for that. You are my work spouse, if you will. He is my personal support fan club.

[00:27:35] Nola: Aw, that works for me. That's so true. Well, friend, we hope our candor inspires you to keep working on your entrepreneurial dream. We have one last word to share with you. But before we do, we just want you to know that we are taking the holidays off for some well-earned rest and time to spend with our families. Our next episode will drop on January 10th, 2023. In the meantime, we'll each leave you with a quote. Among the first we created when we first launched Sticky Brand Lab.

[00:28:05] Lori: Do it now before later becomes never.

[00:28:09] Nola: And my quote is from Lucille Ball who said, "I'd rather regret the things I've done than regret the things I haven't done."

[00:28:18] Lori: Not only love that quote, I actually have used that more as a mantra. Every time I feel myself get close to crossing a new barrier and hesitate, I remind myself, will I regret not taking that step forward?

[00:28:34] Nola: Yes, exactly.

[00:28:35] Lori: Very, very powerful. Thank you for listening to this episode and for following our show. We hope our reflections today have caused you to pause and think about your own journey, so you can create your best and most exciting business and life. If you found the information shared here today helpful, please let us know by posting where you are listening or by going over to our Facebook page.

[00:29:01] Nola: Be sure to come back for another informative, inspiring, and motivating episode. And remember, action creates results. So tap into your desire to create a business and brand you love by taking 1%. Every day. Small steps, big effects.

[Out-Take]

Nola:  And for Kai, this is for you. Salamat, Po! So..

[00:29:25] Lori: Which means?

[00:29:26] Nola: Which means.... think, I forget. So we're going to, Salamat that means, uh, hello-goodbye-thank you. I see, I'm in way. No. Okay, now I'm really embarrassed. Edit this out. No, we love you Kai. So really, truly edit that out.
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[00:29:52] Lori: What does it mean? Uh…