Make Money, Not Mistakes with Sharon Galluzzo | 006

Maartje van Krieken: Hello everybody. Welcome to the Business emergency room podcast. I am Maartje, your host, and today I'm here with Sharon Galluzzo. We are live recording this at Polo palusa, which is a all day podcasting serial event. Everybody in attendance is either serial guest or serial host for a day meeting lots of fabulous people and were being match made together or dumped together in a room. And I am very happy that I got to spend time with Sharon, because I think she's got some valuable stuff to share for all of you. Sharon and her husband started and owned and ran award winning six figure businesses for a long time, and then sold those successfully, and decided to turn that into a business that, by that, I mean helping, you know, share that success and replicate that success to others. So she calls herself a profit growth strategies. Strategist, sorry, that's a hard word and and so we're going to talk about that. So it's very clear that in the things we talk about today, we're definitely going to talk about first aid kits, tools to deal with business emergency. But before we get to that, Sharon, do you also, I assume it wasn't all roses. So do you also have scars from running businesses? And are you willing to share one of those with our audience?

Absolutely, yes. Scars, many scars. There's a lot of scars you get running a business, and the one that really was the biggest one, I think, was when we started our business, we did everything that. First of all, we did not know how to run a business. My husband just came home one day from his job doing tech. It is an IT guy. I was in nonprofit, education, public relations, and he comes home and says, I want to start a business. And so off we went to start a business. And so I read books, we got mentors, we got coaches, we did everything to figure out, how do we do this thing that we've now said we're going to do? And one of the things that we did is we did a lot of advertising, and at that time, the advertising wasn't the way it is now, because now you can, like, turn it on and turn it off, but we had bought some really expensive ads in addition to all the startup costs, however, we also had a really nice cash reserve in place, and we're like, this will get us through the first year. And we were, it was, it was totally fine. We were definitely going to do that. So we started our business, and four months later, I opened the bank account to see that we were at $2,000 a little over $2,000 and we had spent almost all our money, and our expensive ad bills were coming due, and we were like, what do we do now? I was home. My husband wasn't home from work yet because he was still working full time, and I had to tell him, we're going to lose everything like this is where we are. So we had that terrible moment of confessing, it's probably partly because of all the ads that I insisted that we do. And you know what? What are we going to do now and after, you know, I'm sure you can imagine the crying and the yelling and the trying to not disturb the children and scare them. We realize that we're at a crossroads. We either say this was a really expensive mistake and move on and try to recover what we could save the house, be there for the kids, do all of that, or we could make the business work. So in that moment, and I will tell you, this is exactly how it happened. We looked at each other and we said, we are not going to try. We are not going to try to run this business. We are going to make it work. And for us, in that moment, it was the absolute conviction and the decision that no matter what, we were going to make this thing work, because we had invested money, we had invested time, everything was on the line. And so we just that was it. We just decided this is what's going to happen. And we we kept going. It was just before Christmas, and our phone started to ring, and our customers started coming in, and we got really good at sales, and it never stopped, and our bank account never did hit zero. So for us, that moment of decision it we are in or we are out, there was. Well, let's try it for five more months. Well, let's see what happens. There was none of that it. It was an absolute commitment and decision to make our business work, and that is how we were able to have a multiple six figure business, to win all the awards, to do all the things that we were able to do in our business. I

Maartje van Krieken: love your example, because it's, it's, you know, showcasing something. I talk a lot about the chaos games, that when you are in chaos, it leads to this moment, or, yeah, often, and then somehow, when the safety net falls away. I think as humans, we do Lean In, right? We don't always think that of ourselves, but we do. Ultimately we do, and then there is only one way, and that is forward and grasp the opportunity double right and go for it. So yeah, fabulous example is there, is there a lesson around the ads or anything specific that led to the money management challenge that that our listeners can also learn from.

Well, this, the thing was, and I didn't mention this because it's quite a long story. It was 2008 and so we were, I mean, it was a critical, critical time for the whole world. I mean, it was crazy. And so we the the commitment to continue to put money in our business during tough economic times was actually the right decision. Had we not spent that money on the ads, it was like a chicken and egg thing, right? We if we hadn't put the money on the app, on the ads, we would not have been able to prosper. But the putting the money in the ads was what drained our bank account. So when it gets tough, when things are confusing, when the world is going a little bit crazy, is not always the time to pull back, because back would have meant we failed. I mean, our business would not have survived. No, obviously spent the money and, you know, we fed that forward. Sorry to interrupt you.

Maartje van Krieken: No, no, you've Yeah, and I get excited because it's another one of the the the statements we make a lot is that, if when you're in chaos, but you you have focus so you truly know what you're going, where you're going, you can filter right? So then going through 2008 with everything that's coming at you, because you have clarity on where you're heading, you are able to say, yes, it looks like we should re decide or do other things, right? Because all the signals coming at me are telling me that. But if I measure that versus where I'm going then I still am on that course, and I'm going to stick with it, and, and, and, yeah, I advocate a lot for for people who struggle to navigate the chaos, is to revisit whether your focus is clear, right? Because it's one of the, the most effective filters to drown out all this noise, the challenge of being in turmoil is, is that it feels like you need to address everything that's coming at you, whilst in reality, you need to stick the course, because the waves are going to keep going, and if you don't stick the course, you're not going to go forward and you're not going to make it to home port, right? So yeah, another great example. Thank you for that.

You're welcome.

Maartje van Krieken: So all right. So then I want to move on to what we call first eight kits here at the emergency room, the business emergency room podcast. So because you and your business offer actually the equivalent or first eight kits to entrepreneurs around profit growth strategies. So can you tell us a little bit more about what it is, what is the tools that you offer for companies, and particularly, how might that be relevant for listeners who find themselves close to emergency or potentially at the brink of already in right?

So I think one of the main things is, is, is that goal, having that destination, and really committing to that? I really think that that is a is a first step for everything, and we've already talked about that. And I think that having a plan A, I call it a Plan A I have found that if you can, you can make a plan, and you are pretty sure about that plan. When things go crazy and haywire, there are 25 other letters in the alphabet. If you don't have a plan, if you don't have anything to hold on to, then it's alphabets like you, they're just forget it you. If you have that plan a then you're able to pivot. If you know where you're going, what it is that you want to accomplish. Figure out. What I work with my clients on a lot is, I call them the Seven Pillars of profit. In order to have a profitable business, you have to have a. Firm foundation. So most people start their businesses and they're running and they're doing things as it comes at them, and that's totally fine. That's natural. It's how it happens. And when you build your business that way, there are gaps, there are weaknesses, there are things in your foundation that aren't in place. So I help come in and build those pillars so that you have all of that in place, and then you have that firm foundation. So once you have the firm foundation, you're even more settled whenever the storms come and the chaos is coming at you. So I work with my clients on that. I also do, I do what I call a profit compass. You know, when you're running your business and you just feel like you're overwhelmed and lost in this maze, and you don't know what to do. So I help you. I come in, I take you above the maze, and we figure out where's all the treasure buried, and what's going on and how it's that path, and how do you get out of it. So I call that my profit compass. And another thing that I work with my clients on with regard to profit, is what I call a profit maker matrix, and that is actually figuring out what is the most profitable thing that you offer. Because a lot of times people are offering something and they think this is the thing, this is the thing that's going to build my business. But actually, that's not what your clients really want. So what is it that they're buying? What is it that they're focusing on? So, um, the things that I work with is helping you build that strategy and that foundation so that when the chaos comes it's not so crazy, right? So that's your plan A and that's, that's really where I come in is, is helping you or taking, taking you from running and gun in and figuring that all out as you go, putting in that foundation. And then, like I said, when you have your plan a then it doesn't, you know. Then, then the, when the the chaos comes, when things are shutting down, when the economy gets bad, whenever whatever happens, you actually have a North Star so you can, just like we were talking about earlier, you can go that direction.

Maartje van Krieken: Yeah, so what I'm hearing is a lot of work around clarity of purpose and knowing where you're going, but also help with looking, maybe from the outside in, and looking at the business from your client's perspective, so that the two line up, am I in translating that correctly?

Yes, yes. And I'll give you a quick, quick example, because I know we have a short amount of time. Like when we started our business, we knew exactly what we were going to sell. It was going to make us 1000s of dollars every day. It was going to be it was going to be the most amazing thing. And then there was another little part of our business that was just that was just something that we did, and it cost $24.95 that was not going to build our business, actually, that built that $24.95 cent product, built our business so then we could go on and pursue the bigger things, but actually coming to that realization and focusing on the things that people were buying, and not our passion projects, was what enabled us to have such a successful business.

Maartje van Krieken: Oh, now it sounds like a cliffhanger. Are you going to tell us what the $24 product was?

Okay, so, yeah, it was a video production company, and the the cheap, the cheaper thing was taking people's videotapes and digitizing them. Oh, fabulous,

Maartje van Krieken: yeah, very, very mundane, but something that in high demand, right?

And I was, Oh, nobody has videotapes anymore. It was, but once we embraced what people wanted,

Maartje van Krieken: I still have a wedding video lying somewhere in a basket upstairs. My kids have never seen it because there is no way to play it. So, yeah, I can imagine. That's so funny. Oh, great, great example. So if based on this, people are interested to find out more and maybe work with you, how do they find you?

I am on social media. Everything is sharing. Beluzo is just where I am on all social media. And if you would like, I do have a gift for your audience. It is an endless referral roadmap, and it shows them exactly how to how to ask for referrals, when to ask for referrals, and help them be able to take that ace in their pocket, the current, current clients they already had, and actually use them to help you build your business, because everybody reads all the reviews before they buy something, right? So they're going to what somebody else says about you carries so much more weight, especially today. So I'll give you that link, and you can provide that, and we'll

Maartje van Krieken: make sure that wherever you are ending up listening to this podcast, that all these links are available in the in the comments below, so wherever you're listening, you're going to have to go back and scroll in the text or look for Sharon galuso online and or google it, and I'm sure you can find her. Sure, as always, I would like to end today's conversation with a chaos theory. So do you have a wisdom, a chaos theory, to share with our audience? I

do, and I've sort of hinted at it a little bit we talked about it. So if I said to you, Marta, I want you to come visit me at my beach house. What would be the first piece of information that you would need, or the only piece of information that you would

need, where it is, the address, absolutely,

if you, if you, if I, if I just told you the name of the beach, it would take you a really long time to find me. But if you have the exact address, you can come right to my door. So when you are working your business, what is that goal? Give yourself an exact address. That doesn't mean that you can't make adjustments. And you know what they say is, is make the decision, have that goal and your path to get there might not be the way you thought you were going to get there, but if you said fastly, know exactly where you're going, then you have that ability to get there.

Maartje van Krieken: Fabulous. Thank you very much. Thanks, Sharon, for a great conversation. What I learned and heard today is another fabulous example of when the going gets tough, we do know how to lean in, that it's important to have your lighthouse, or your beacon, and clarity of what you're aiming for, because it will help you deal with the chaos, like an economic crisis, like we had in 2008 and I also heard that Sharon has lots on offer for entrepreneurs who are trying to get their business to really perform and be successful. And so if you're interested in that, follow up with her, she clearly knows what she's talking about. And thank you very much for being my guest today.

Thank you for having me

Maartje van Krieken: see you next time in the Business Emergency Room, you can check out also more information about everything we offer on the chaosgamesspeaker.com. Thank you.