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Creative Genius Podcast

Written by: Gail Doby & Erin Weir
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  • Summary

  • Gail Doby and Erin Weir interview influential people in the interior design industry, business, and entrepreneurs
    © All Rights Reserved - Pearl Collective
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Episodes
  • The Design World is Changing (Kaitlin Petersen)

    The Design World is Changing (Kaitlin Petersen)
    Apr 30 2024
    Four years ago the interior design industry came to a grinding halt as the pandemic swept the globe. And then, almost as quickly, the industry began to bounce back. Again, to most everyone’s surprise, it went from bounce to boom. Amongst all that turbulence came a lot of changes. Today’s interior design industry is not the same as it was four years ago. With the proliferation of artificial intelligence (AI) technologies, designers can expect more change ahead. In this episode, Gail talks with Kaitlin Petersen, editor-in-chief of Business of Home. The website describes itself as the daily media of record for the home industry and the voice of authority for interior design professionals. Kaitlin has been with Business of Home for seven years but has been writing about the style and design trade for more than a decade. Her work has appeared in Elle Decor, House Beautiful, Metropolitan Home and Veranda, as well as Chicago, Texas Monthly, Time Out New York, and the international editions of Vanity Fair and Vogue. Gail asked Kaitlin what changes she’s seen in the industry during her tenure with Business of Home. She said the biggest change she’s witnessed is that clients are getting smarter. They are more knowledgeable about design, products and the design process. They are well-versed in Instagram, Pinterest, Houzz, and other online sources of design information. As a result, they want to be more involved in decisions about design or aesthetics, budget and how the project should be managed. A big challenge for designers, said Kaitlin, is that as a result of doing their own research, clients are not always well or properly informed. They may come to a project with misinformation and unrealistic expectations. Designers have to be prepared to educate or re-educate their clients so as to counter their erroneous preconceived notions about design and their project. On the flip side, Kaitlin said, these more knowledgeable clients have forced more designers to re-think and justify their value proposition. More of them can now articulate and defend why they are billing as they do. They can draw a straighter line between what they bring to the project and their fee structure. Looking to the future, Kaitlin said she thought the big thing for designers to watch is AI. She does not see AI as a threat to replacing designers’ talent and experience. However, it could have some upsides, as a useful trigger for inspiration and potentially to help streamline routine business operations. During their conversation, Kaitlin also talked about how she had to overcome her anxiety about “impostor syndrome,” the 50 States Project she’s undertaken, and recent hiring trends in the industry. For all that and her advice for design business owners, listen to the entire podcast. If you're listening on your favorite podcast platform, read the full shownotes here: https://thepearlcollective.com/s9e2-shownotes Mentioned in This Podcast Gail has been contributing articles to Business of Home. You can read Gail's articles here. You can take the 2024 Interior Designers Survey here. https://www.youtube.com/watch?v=AhN9khsIq_c
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    49 mins
  • How AI Will Change Small Business (John Jantsch)

    How AI Will Change Small Business (John Jantsch)
    Apr 23 2024
    The launch of ChatGPT to the general public in November 2022 ushered in a new era in the ever-expanding reach of technology into the workplace and our daily lives. Suddenly people with no technical skills or knowledge of artificial intelligence (AI) could easily query an interactive assistant to perform various types of research, to synthesize large bodies of information, to generate content and images based on existing models, and more. Today, ChatGPT and other AI tools are used in many industries and are changing the way business is done, including marketing. In this episode, Gail talks with John Jantsch, founder of Duct Tape Marketing, which specializes in marketing advice for small businesses. John is the author of seven books on marketing and business strategy, as well as the Duct Tape Marketing blog. He is also the host of the Duct Tape Marketing Podcast. Gail asked John what changes he has seen in recent years in small business marketing. He said the most obvious change is the use of social media platforms and online communities like TikTok for marketing. The bigger shift, however, has been in how customers shop and choose to buy. Because of those digital resources, they can now more easily do their own research. They tend to rely more on influencers and reviews they find online than on providers themselves for information. Consequently, they have already progressed fairly far along in their decision-making before they ever contact a manufacturer, seller or service provider. Now, with ChatGPT and similar AI tools, customers can ask the tool to do their research for them. By doing so, they can skip having to do an internet search. That also means they no longer encounter the ads and optimized listings of sellers and providers who market through those search engines. Businesses need to adjust to the new ways customers are getting their information. John recommended that interior designers become informed about ChatGPT and other AI tools to understand their basic functions and how others are using them. Then, he said, start playing with them to get a feel for what they can do and for their limitations. “Think about them like hiring an intern,” he said. “They can be an incredible assistant.” Once comfortable with the technology, use the tools to expand your marketing outreach. He suggested producing a video first. Make a transcript of the video. Then use AI tools to produce that content in multiple formats and distribute it in a variety of ways throughout the various digital media platforms, exponentially increasing your exposure. John also talked about the importance of having a Chief Marketing Officer (CMO) function to strategize and coordinate all marketing activities for the business. For more information on that and other marketing tips, listen to the entire podcast. If you're listening on your favorite podcast platform, read the full shownotes here: https://thepearlcollective.com/s9e4-shownotes Mentioned in This Podcast To learn more about John and Duct Tape Marketing, visit the firm’s website at ducttapemarketing.com. You will also find articles, a newsletter, and John’s blog and podcast on marketing for small businesses. John mentioned the title of his first book, Duct Tape Marketing: The World's Most Practical Small Business Marketing Guide (revised and updated in 2011). He also mentioned the title of his most recent book, The Ultimate Marketing Engine: 5 Steps to Ridiculously Consistent Growth, published in 2021. You will find information about all of John’s books on the website at ducttapemarketing.com/about/books. https://www.youtube.com/watch?v=PfDKZCSDLYE
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    Less than 1 minute
  • The Nitty-Gritty of Selling a Business (William Lieberman)

    The Nitty-Gritty of Selling a Business (William Lieberman)
    Apr 16 2024
    For small business owners, selling their business often is the biggest financial transaction they will ever undertake. It can be a highly emotional and stressful time. Sellers need to be prepared to undergo a multi-stage process that will demand a substantial amount of their time and attention. In this episode, Gail talks with William Lieberman, founder and managing partner of The CEO’s Right Hand, a boutique financial and human resources services firm based in New York. Among its other services, the firm advises on and assists with mergers and acquisitions, exit planning, and corporate valuation. Plan ahead. Get help. Don’t let the demands of selling your business distract you from running your business. Continue to maintain and grow the firm’s value. That, in a nutshell, is the advice William had for interior design firm owners thinking about selling their business sometime in the future. “You need to start sooner rather than later,” he said. It takes time to plan ahead, to get the business in order, and to ensure it is valuable and profitable at the time of sale. Prior to taking steps to sell the business, you’ll need to collect all the necessary documents, make sure all financial records are correct and up-to-date, and educate yourself about what’s involved in evaluating and selling the business. You also want to have an exit plan in place and know what you want to get out of the business in terms of cash, future involvement (if any), and rights. William outlined an extensive multi-stage process for selling a business. It begins with selecting an advisor to work with. “You do not want to try to do this on your own,” he cautioned. It then moves through evaluating the business, identifying an appropriate pool of potential buyers, marketing to those prospects, soliciting and negotiating letters of intent, performing due diligence for both parties, and drawing up the necessary legal documents. If all goes well, you can then move to closing the sale. In addition, William provided advice on how to select an advisor and a firm to conduct the business evaluation. He gave more detail about what preparations owners should make before approaching an advisor about selling the business. And he talked about some of the challenges owners may encounter during the sales process. To get all the nitty-gritty, listen to the entire podcast. If you're listening on your favorite podcast platform, read the full shownotes here: https://thepearlcollective.com/s9e1-shownotes Mentioned in This Podcast William provided a brief explanation of EBIDA (i.e, earnings before interest, depreciation and amortization), which is a measure of a company’s earnings and value. To learn more about William and the services provided by The CEO’s Right Hand, go to the firm’s website at theceosrighthand.co. The CEO's Right Hand would also like to share the following tools with our listeners: To learn more about what investors look for when valuing your business, and how to improve your valuation, check out TCRH’s free guide, ‘What Investors Really Want’. And for a comprehensive overview of TCRH’s proprietary approach to holistic financial management, download Financial Infrastructure 360°™. FI360 outlines the 5 key components of responsible financial management, real life examples of avoidable issues, and a self assessment to jump start your financial planning. Download the guide here: https://theceosrighthand.co/resources/financial-infrastructure-360/ https://www.youtube.com/watch?v=u0NVEIiGwa4
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    34 mins
Management & Leadership Economics
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