[00:00:00] Speaker A: I love the magic that happens when people get together. Events and meetings are the second oldest form of human interaction.
[00:00:06] Speaker B: There was sort of a bit of a calling and an opportunity for me to really be the creative person that I knew I always was supposed to be.
[00:00:15] Speaker C: I'm Richard Gearhart.
[00:00:16] Speaker D: And I'm Elizabeth Gearhart. Are you thinking of starting a business or have one you're trying to grow? Stay tuned.
[00:00:23] Speaker E: Ramping up your business.
The time is near. You've given it hard. Now get it in gear. It's Passage to Profit with Richard and Elizabeth Gearhart.
[00:00:34] Speaker C: I'm Richard Gearhart, founder of Gearhart Law, a full service intellectual property law firm specializing in patents, trademarks and copyrights.
[00:00:42] Speaker D: And I'm Elizabeth Gearhart, not an attorney, but I do marketing for Gearhart Law. And I am the founder of Gear Media Studios, a full service podcast studio.
[00:00:50] Speaker C: Welcome to Passage to Profit the road to Entrepreneurship, where we talk with entrepreneurs and celebrities who tell their stories stories about their business journey and also share helpful insights about the successes that they've had. We have a very special guest. His name is Dan Berger, hospitality entrepreneur, bestselling author and founder of Assemble Hospitality Group.
[00:01:12] Speaker D: And then we have an Amazing guest, Sophie McGowan. And she has IR SASS. You have to go on her website and look at her jewelry. It is so beautiful. And the stories behind it will blow you away.
[00:01:24] Speaker C: Absolutely.
[00:01:25] Speaker D: And later on, we'll hear from our friend Alicia Morrissey, a great jazz singer. And we've got secrets of the entrepreneurial mind.
[00:01:32] Speaker C: But before we get to our distinguished guests, let's talk about something millions of Americans are dreaming about right now. Starting their own business. Two in five Americans are business owners or thinking about starting their business. And so we'd like to ask our panel, what was the moment you knew it was time to start your business? Was it a light bulb moment or a moment of total delusion? Let's go to Dan first. Dan?
[00:01:57] Speaker A: Yeah. I'd be lying if I said that I ever wanted to start a business. For me, it was one of those things that happened somewhat naturally. I was pretty bored in my job after school and I thought to myself, well, how do I pass the time? And to pass the time, I just started building a quick web application.
At the time, it was seating charts for weddings. And I met a friend and I enjoyed working with that friend more than I enjoyed building the business. And we started the business and very soon thereafter I said, well, this is kind of fun. Let me go full time. He had a different definition of work ethic than I did. So we parted ways and I continued on my own.
[00:02:30] Speaker C: So you worked less than he did.
[00:02:32] Speaker A: You know, it's interesting. I ended up selling my company for a lot of money. And even though it was like $100 million.
[00:02:38] Speaker C: Right?
[00:02:39] Speaker A: A hundred million bucks. And even though he left day like 90, he ended up making a million bucks because he stayed on. And, you know, we initially had 5% that slowly became 1% because as people invested his, his percentage got diluted. But he ended up making a million bucks when I sold for only 90 days of work.
[00:02:58] Speaker B: Wow.
[00:03:00] Speaker D: How do I get a gig like that?
[00:03:03] Speaker C: He was smart to hook up with you. Sophie, tell us about your decision to start your business. Was it a light bulb moment or a moment of total delusion?
[00:03:12] Speaker B: I think that. Well, when I was very little, my parents moved us from England to Scotland and they opened a hotel. And I always remember being quite young and maybe I was about sort of eight or nine, and my parents would say that they watched me go into the hotel and take what we call a dumbwaiter. So it was full of cutlery and crockery and things like that. And push it up the driveway and there was a bridge with like a tunnel underneath at the top of our driveway. And I pushed all the way up there and I rolled it all the way down this embankment. And I'd wanted to start my own cafe at the top of the driveway underneath this bridge.
So I feel as if it's all started from when I was. When I did this little journey of opening up my own little cafe.
But it's been in my blood since I was very little with my parents having their own hotel. And I operated that for a long time with them. But to start IRSAS was an opportunity like so many other people in the first lockdown, where I had guilt free time off.
And that's, you know, having time off when you own a hotel and restaurant is there's not a lot of that time that you have off. So being at home and being able to think of something that I loved so much to do. And I have always had such an obsession with jewelry and color and fashion and studied fashion as well. So it was definitely a moment where I thought, right. I think, think that some people are going to be on a lot of zoom calls and homeschooling, and I think they're going to need some fabulous big bold earrings to get through the hell of homeschooling.
[00:04:56] Speaker D: Thank God we didn't have to do that.
[00:04:58] Speaker C: Well, I love your story about starting a business as a young Girl, I think a lot of entrepreneurs have that history of trying to start some sort of business when they're very young. Not everybody. Right. But I think if you fall into that category, you definitely have an entrepreneur streak, for sure.
[00:05:17] Speaker B: Yeah, I agree. Yeah, totally. I think I saw it from my parents as well, how hard they worked, and my dad doing seven days a week and sort of 18 hour days in the kitchen. And I just thought, I want that. I want to work that hard and be rewarded.
[00:05:32] Speaker C: That's great. I love that work ethic. And it's refreshing to hear people say that that's what they aspire to. Put that in kind of effort in.
[00:05:40] Speaker B: Yeah.
[00:05:40] Speaker C: So, Elizabeth.
[00:05:42] Speaker D: Well, like Sophie, I. My grandparents were entrepreneurs. They always had their own businesses. And I grew up in Seattle, and Seattle had the public market. And I remember as a little kid, they had a stall at the public market selling costume jewelry. Not like your Soviet. And I would go down there and hang out at the market and hang out at the stall. And I didn't actually do anything except watch. But it was kind of fun to go down there and have a booth and sell jewelry. They didn't do it every summer. Yeah. And I think that was kind of the start. And my mother was always coming up with ideas. My mother was brilliant and she was an idea factory, but she never had the money or the time really to follow through and start a successful business. But she tried a few times and I think had she had a little more support, she could have really been a successful businesswoman.
[00:06:29] Speaker C: I remember her idea of having set up bathtubs. Bathtubs that you could sit in. Right. And this was like years before they became.
[00:06:38] Speaker D: Before the walk in tubs.
But there was a Japanese patent on it, so she couldn't get a patent. But yeah, she had some pretty ingenious ideas. She had one for a window covering to avoid theft that was easy to get on and off, but couldn't be taken on and off from the outside. But she just didn't have any backing to do anything with it. So I kind of grew up in an idea factory, really.
[00:06:59] Speaker C: And yeah, yeah, I really never aspired to be an entrepreneur. I was always encouraged by my family to get a good job and climb the ladder at some big corporation. That was their definition of success. And starting my own practice was never very appealing. But I ended up leaving this big company mostly because I was so frustrated with the way it was managed. And I thought, hey, you know, I can screw things up on my own just as much as they're Screwing things up. Right. And probably get paid a little bit more for it. So I ended up starting Gearhart Law with the encouragement and support of my co host and it turned out to be the best decision I've ever made professionally. And I really like to think of the law firm as my canvas and I get to express my creativity through the business decisions that I make, how we market the firm, who we hire, all of those things. And so I think of work as self expression as well as a way to pay the bills. And it's really turned out great. So I look back at it now and I said, I must have been crazy to do this. But in the end it worked out okay. Very happy about that. So now I'd like to turn our attention to today's guest, a visionary entrepreneur, a hospitality innovator, and a best selling authority. With a sprinkle and a dash of Idaho tossed in, Dan Berger is the mastermind behind the Assemble hospitality group where the mission is to help teams bond somewhere better than a conference room. He's also the author of the Quest, a guide to Finding Belonging. Because let's face it, Wi Fi isn't the only thing that we're all searching for. So welcome to the show, Dan. It's a pleasure to have you. Why don't you tell us what you're up to these days?
[00:08:49] Speaker A: What am I up to these days? The answer is it depends on the day. But right now I'm up to raising a seven month old. I'm an older dad, I'm 43. And my wife and I have gone through an exceptionally trying time to have kids. We got married later in life. She's 42, I'm 43, like I said. And we got married two years ago. And she's been on 12 fertility treatment cycles. So we have an IVF miracle baby. I'm enjoying that very much. And all the trials and tribulations of that and being an adopted, you know, it's even more of a joy for me to raise my own, have my own family and see my own blood in my home. So that's what I'm spending my time on. But I know your question was probably focus on more professionally.
[00:09:31] Speaker C: Sure.
[00:09:32] Speaker D: This is great because I think more people should focus on their babies.
You know, you can take break from work, but if you take a break from your kid's life, you don't get that back.
[00:09:42] Speaker A: That's interesting you say that because I do think that I know so many people who are my age who now look back and wish they'd spend more time with their kids. And part of the gift of entrepreneurship is to be able to pave your own road later on in life, even if you just have a small nest egg, like to buy a house or put a down payment on a house. It just happened. Working out this way, I didn't really mean to, but having had success in my 30s allowed me to lean in to all the things that I really was missing. Spirituality, family.
I never owned a home, you know, before I turned 40. So it just allowed me to do all these things that are, quote, unquote normal. And a lot of people do while they juggle other things.
And now that I've focused on professional life, I can focus on personal life a little more. So there is a benefit to starting a business early and starting a family a little later, in my opinion, and I'm very grateful.
[00:10:32] Speaker D: I think you bring up a super good point. People may look like they have their act totally together and nobody actually does. You know what? And everybody's got challenges and trials and tribulations, and we all just have to power through it as humans. But I think we also need to give each other a little bit of a break, because you don't know what someone's going through at any given time. But as an entrepreneur, you can challenge yourself and kind of try to overcome that, I think. And you can also take a break if you really need it. It's harder to do when you're in corporate, Dan.
[00:11:06] Speaker C: If you've made a hundred million dollars or some chunk of that, whatever it is, it's in the millions. How do you still find the motivation to keep going? What is the source of that drive?
[00:11:17] Speaker A: You know, there's a blind melon song. Keep on dreaming, boy. Because when you stop dreaming, it's time to die. And for me, in my Jewish faith, you know, we believe that the neshama, the soul is going to be here when you die. And your job as the person who carries that soul is to make it better. Work is an act of self expression. And I couldn't agree more. You know, I have a cleaning, commercial cleaning business in town. We'll do a million two in revenue this year.
And that's giving opportunities to people who don't speak English, to people who just were trying to get by. I'm thinking about starting small businesses that will help one or two people here and there. And I just love what comes out of creating a business. I'm always doing that.
[00:11:58] Speaker D: I wanted to ask Dan about Assemble Hospitality Group. I think it's a Very cool idea. And I know there's a lot of beautiful places in Idaho where you can do this because I've been there.
But what gave you the idea to start and can you explain what it is for the listeners, please?
[00:12:16] Speaker A: Absolutely. When I was at my last company, Social Tables first for the listeners, basically our software was event design software. So basically figuring out where the tables go, where the chairs go. And we had 6,000 customers all over the country. So if you've had a wedding or a bar mitzvah or a quinceanera, our software is probably used to plan it. On the hotel side, our software was used for about a million and a half events per year in the United States. And I love the magic that happens when people get together. Whether it's the kind of bumping into somebody at a conference or whether it's a all day meeting with your executive team to figure something out or it's sitting down with a couple of business partners and jamming out a marketing strategy.
My joke is that events and meetings are the second oldest form of human interaction.
Let that settle in.
[00:13:03] Speaker D: I know what you mean.
[00:13:04] Speaker E: Yeah, yeah, you know what I mean.
[00:13:06] Speaker A: So the magic happens when people are in small rooms, small groups in small rooms. You're not going to decide to cure cancer in an all hands meeting with your, in your big meeting, you're going to do in a small room with your executive team. And I realized the most joy I had when I work with my work with my team was putting together that strategy that go to market strategy that the big vision, the five year goals, whatever. We had a thing we called vivid vision. Cameron Herald writes about this, about just writing and anybody listening can do this. Write down just a narrative of what the business looks like in five years, as if you're in that present day and love it. I love to do that stuff.
So I thought, well, how do I create magical spaces that actually do this? And there's a formula. It's not just, oh, let's build a retreat center in the middle of the woods. We have a very specific formula because there's a very specific need. The need is places for teams to come together, especially in a hybrid work environment.
The need is for people to come together, especially as AI rules our life. And we want interaction beyond the screen.
And the need is for more belonging on teams because we feel more distant, our lives are more busy. So the criteria is basically urban kind of emerging cities. So Boise is the first place looking at Bozeman, Santa Fe, Santa Barbara, other emerging cities that have something special to offer only no more than 12 sleeping rooms and close to the airport and I call them micro resorts for that reason. So it's a micro resort with some meeting space, some meeting from sleeping rooms, and a place for teams to really jam out and just do the fun stuff.
[00:14:39] Speaker C: That's great. We have more time with Dan coming up. So you are listening to Passage to Profit with Richard and Elizabeth Gearhart. And don't forget to experience other episodes of Passage to Profit by subscribing to the iHeart app, Facebook, Instagram and YouTube. Just look for the Passage to Profit show on any of these platforms. We'll be back right after this.
[00:15:01] Speaker F: Let me tell you a story about Bill. Bill was a normal guy in his 50s. He had back surgery about two years ago. Bill was in a lot of pain. He dealt with his pain by taking the Percocets his doctor prescribed for him. Bill took more and more and more of them to help with the pain until one day the prescriptions weren't enough to get rid of Bill's pain. Then one day Bill found someone to help him get rid of the pain with illegal drugs he didn't need a prescription for. Fast forward to today. Bill lost his job and his family.
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[00:17:01] Speaker E: Now back to passage to profit once again Richard and Elizabeth Gearhart and our.
[00:17:06] Speaker D: Special guest Dan Berger. And boy is this guy amazing. He's built and sold.
[00:17:10] Speaker C: We're going kind of deep today, aren't we?
[00:17:12] Speaker D: And we are going a little deep today which is really cool because entrepreneurs don't always get that chance. That's I think why they have all these co working spaces and stuff so people get a little more human interaction. We've been going very human today but now we're going to shift gears a little because Dan has some great ideas on how you can start a business without a lot of capital. And Dan, take it away.
[00:17:35] Speaker A: So during COVID I, you know just, I sold my, my last business in 2018, stayed on for a year to integrate it till 2019 covert and I was ended 19. So Covid started happening and I was like, well I can't do what I plan to do post exit. Why don't I just take a road trip with a couple buddies and we got in the car and what it was supposed to be a two week trip to Florida, ended up being a four month road trip across the U.S. covered 15,000 miles and slept in 18 different cities. And I got to Idaho and fell in love with it. But I was like, well what do I do now? Because I was like I kind of want to stay here. And I joined the local chamber of commerce and my, you know, I added my name. It was like thousand bucks a year or something. So I added my name to the directory and I was the only person who was like an individual and it said investor. And at the time I wasn't really investing. So one day I get a call about a month after I joined and I this guy on the other end. Hello, Dan, my name Nicola. Looking for business. I said all right, let me talk to this guy. I got nothing new. I just got here. We met for a cup of coffee and he told me that he wants an investor for his cleaning business.
And then I, you know, I started digging a little deeper and I realized this guy was being taken advantage of by his employer. His employer was trying to get him to buy his business by raising capital. So I said dude, why don't we just sign a non compete with the current customers you have, which is like a dozen and let me give you a little bit of money and you can start a cleaning business and we'll be partners. We came to terms.
And the point I'm making is what I did and I didn't realize this is I was running basically a search, a search fund. And a search fund is a way to get paid by a searcher. Someone like me, I'm the searcher, and I pay somebody for about a year's worth of salary, and they go find a business they want to acquire and operate. It's a very good way of becoming an owner operator without actually establishing the business.
And that's exactly what happens. So that might be a really good idea.
[00:19:26] Speaker D: So then who owns the business? Dan?
[00:19:28] Speaker A: Great question. So I then this is all negotiable, right? It started out by being 90. 10. I was 90, he was 10. And then we set some parameters in the terms that as the business grew in revenue, I should have, by the way, done an impro. I learned, should have done an according profits because anybody. Revenue was just growing really fast, started burning a lot of cash. But we did it. Once you get to a million dollars in revenue, we get to 50, 50 after you pay me back, my loan doesn't matter. Some renegotiation, that loan became equity. It doesn't matter. Bottom line is the business is doing great now. And, you know, he's a great operator.
[00:20:01] Speaker D: So you each own half of it.
[00:20:03] Speaker A: Yeah, we each own half of it now. That's right.
[00:20:05] Speaker C: So what did you see in him that made you want to go into business with him?
[00:20:09] Speaker A: Well, I have a soft spot for immigrants because I'm an immigrant, so I know that the immigrant work. You know, Mark Cuban says immigrants get the job done. And I couldn't agree more. And at the end of the day, we're all immigrants. We're a nation of immigrants, whether it's first generation or fifth generation. So immigrants get the job done. So number one, I was. I was emotionally connected to him, but I don't have to. Just. Just a plus. In my opinion, his work ethic was second to none. Okay, Richard, this guy came here to play basketball, didn't speak a word of English from Serbia. And then nights and weekends he was cleaning toilets to pay for his kids baby food. And I said, this is the guy I want to work. It's just the work ethic. It's just to me, there's two things successful entrepreneurs have, and that's coachability and work ethic. Anything else is cherry on the top. Work ethic. Because people who work harder are more likely to succeed full stop, even if they fail most of the time because they're working harder, they're likely more successful, they're likely succeed the 10th try. The second is coachability.
I don't have the space, the patience or the resources to work with anybody that's not coachable. Because if you're not coachable, then it's just going to take longer to get you. I can get you to water, but you're not going to drink and that's just not, that's a waste of everybody's time.
[00:21:22] Speaker C: So you, by coachable you mean somebody who's going to take your advice?
[00:21:27] Speaker A: Yes, and take my advice. Commit, you know, to professional growth. Listen to podcasts like this, read books, read articles, subscribe to newsletters, seek out mentorship, ask for advice from people, play dumb. Just play dumb. Ask questions. You don't know everything. And you, when you're starting and just doing, even, even when you're thinking about a business, you know, doing customer development, the idea of going to potential customers, talking to them, I'm thinking about this, thinking about that. And nowadays with a, all these AI tools, we can build a platform like that very quickly. You don't need to know coding. You don't need, you can create test products in a second.
You can literally do what's called vibe coding, which is just talking to an AI and it codes for you and you can come up with a, with an mvp, a minimum viable product. Get feedback on it and just see what happens. So the experimentation is my second piece of advice for the folks listening. I think there's, you don't have to quit your job and raise millions of dollars. You can build something right now. It can even start as a newsletter. You know, maybe you're a truck driver and you have some observations about gas prices because you're all over the country, start a newsletter about gas prices.
It's just the smallest things that can really become big things and it's just about tiny experiments that constantly try.
[00:22:43] Speaker C: So on the coachable piece, do you think it's possible to push somebody beyond their comfort zone so that they learn new skills or do they have to be pretty much self motivated to do that?
[00:22:55] Speaker A: It's a very good question. I think it's related to is leadership, you know, taught or born. You're born with it or teach it.
Look, I think unfortunately a lot of people skate by that's just the 8020 rule and that's okay. You know, there's people who prioritize. Idaho, for example, wonderful state, but it's a, it's a work to live state, not a lift to work state. You know, people Come here and they want to enjoy lifestyle. And a lot of entrepreneurs here, but they're sole proprietors because they want to do their own thing. That's totally fine. I think you have to first understand yourself.
That's self awareness. Because if you don't want to grow, that's totally cool. Just don't pretend like you do understand what your priorities are. And I believe that people with, you know, priorities to grow have to be coachable at that point, because you can't just grow on your own unless you're a savant. But coachability only comes with, in my opinion, people who really have bigger dreams than being just like a sole proprietor or, you know, very, very small business. And there was a time, you know, especially during COVID when this idea of hustle porn, you know, Gary Vaynerchuk was accused of. Of proliferating hustle porn, which is like, work your butt off. Like, don't sleep.
And like, the reality is he's kind of right. You know, you do need to make sacrifices and sleep less and all that stuff if you want to, you know, go above the fray. I mean, how else are you going to differentiate? If everybody's working, you know, 9 to 5 and everybody's putting in, you know, let's just say 7 out of 10 work effort, everybody's gonna be in the same place. You gotta have an advantage.
[00:24:25] Speaker D: You have to do the pieces of the business that you really don't like doing that much.
You know, you have to clean the toilets, you know, I mean, right?
[00:24:35] Speaker A: It's really easy, you know, to be like, oh, you know, landscaping. I want to do landscaping. Everybody's doing landscaping. There's. Everybody's got a yard. Why don't you landscaping? That's the red ocean.
All the sharks are biting each other's heads and tails off.
I advise to pick the most niche type of business. If you want to be an arborist, go become a specialized pine arborist, the most specialized thing, because that really defines your target market. And the easier it is to find your target customers, the easier it is to be successful. Because I'd rather have a list of 100 qualified customers than a list of a thousand potentially qualified customers.
[00:25:12] Speaker D: Absolutely.
[00:25:13] Speaker A: I really like very niche service businesses. And everybody listening has got a skill. Like, for example, I love saltwater fish. I have a couple of aquariums in my house. You know how many aquarists there are in Boise, Idaho? There's like 12.
So I can start a very, like, high end, you know. So my point, it's probably a bad example Let me give another one. I love home automation, so I'm actually right now thinking about franchising on home automation. There's a new franchising company and that's my specialty and I like it because it's mobile. We go to you very low startup costs, so 125 grand compared to other franchisees and it's something I'm really underst. So it's that Venn diagram, you know, it's the three circles. What do I know and love? Where is there an opportunity in the market? And where can I fit in with with my financial needs?
[00:25:59] Speaker C: And don't forget too, Dan is the author of a book, the Quest, the Definitive Guide to Finding Belonging. You can enjoy more of Dan's wisdom there. Where can people find you?
[00:26:11] Speaker A: They can find me on social at Dan Berger. D A N B E R G R. It's probably the best place. And then dan j burger.com d a n J like in Joseph Berger b r g r.com it's really been a.
[00:26:23] Speaker C: Pleasure to have you on the show. Time now for IP in the News. As an intellectual property lawyer, this just has to be one of my favorite segments.
[00:26:33] Speaker D: Yes, it's markup A win for the content creators.
[00:26:37] Speaker B: Yay.
[00:26:38] Speaker C: Yay.
So of course, as you know, we are AI artificial intelligence fans here at Passage to Profit, but we are also concerned that a lot of people who have put in a lot of creative work over the years are not getting credit or their creations are getting subsumed by this huge artificial intelligence machine. And so people who design things like jewelry, for example, or they create blog posts or content or movies, that information gets put into the ChatGPT AI data set and then that information is used to create new things. The content creators never get any compensation for this and they have no say in whether or not it's used. Well, we just recently found out about a license deal now between Amazon, who has an AI engine, artificial intelligence engine, and the New York Times, great creator of content.
[00:27:39] Speaker D: Yes.
[00:27:40] Speaker C: And by licensing their database to Amazon, they'll get compensation for allowing Amazon to use this content to build their AI engine and to develop their AI engines. And hopefully this is the start of a trend where companies will start paying to use this copyrighted material. So I'd like to ask our panelists if you have any opinions on this, Sophie, what do you think?
[00:28:08] Speaker B: I think probably a question would be is where are they going to find all the content creators to pay them? So if somebody has created something online and it's then been snapped up by AI. Where are they going to be found in order to be able to be then compensated for that?
[00:28:25] Speaker A: Good question, Dan. It is curious what Amazon will do when New York Times information.
[00:28:30] Speaker B: You wonder whether or not everybody will end up just having some form of chatgpt, you know, so the New York Times will end up having something like that.
[00:28:37] Speaker C: I think I'm getting better at identifying AI driven content.
Sometimes it's brilliant. So speaking of intellectual property, if you have an idea or invention that you want to protect, contact us at Gearhart Law. We work with entrepreneurs worldwide to help them through the entire process of obtaining patents, trademarks and copyrights. Or you can visit us at learn more about Patents.com or learn more about Trademarks.com and sign up for a free consultation with one of the Gearhart Law attorneys or download a white paper on either one of those topics. We have to take a commercial break right now, but stay tuned. We'll be having Secrets of the Entrepreneurial Mind coming up next.
[00:29:18] Speaker D: And Sophie, I can hardly wait to.
[00:29:20] Speaker C: Hear about her joy and Sophie too.
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[00:31:05] Speaker F: 8004-3067-2280-0430-6722.
800-430-6722. That's 800-430-6722.
[00:31:20] Speaker E: Passage to profit continues with Richard and Elizabeth Gearhart.
[00:31:24] Speaker C: Passage to Profit is a nationally syndicated radio show heard on 38 markets across the U.S. we'd like to do a shout out to our affiliate in Portland, KBNP AM 1410. Thank you very much and we hope your audience is enjoying our program. And our podcast is also ranked in the global top 3% of podcasts. We've also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneurial interview podcast. So subscribe to the Passage to Profit show on Facebook, Instagram, YouTube and on the iHeart app. So now it's time for Elizabeth Spotlight. So tell us, what have you been up to?
[00:32:05] Speaker D: Well, I've been having a lot of fun. The studio, we've been working on it and working on it. We had our open house and now I have people coming and using it. And I'm coaching people on starting podcasts, which I'm just loving. And I gotta tell you, this whole discussion we just had, these people that I'm coaching have the most brilliant creative ideas. I don't know if AI could come up with what these people have come up with. I'll be honest with you. And I love what they want to do. We've got somebody coming in after we finish taping this today, and he's a money guy, loaning people money for mortgages. But his creative brain is just amazing. So anyway, that's what I've been doing and I have a couple people helping me in the studio now. I have an NJIT professor and I have a student and we're doing physical testing of the equipment and everything. I don't think AI could do that for me. Maybe it could help some. But, you know, the professor's problem solving skills are really great. So he's helped me with a couple of issues with the hookups here in the studio.
[00:33:03] Speaker C: So AI is not the answer for everything.
[00:33:06] Speaker D: Not for everything. For a lot of things, though. I mean, I have to admit that I do use it quite a bit. I use it to get started, I use it to save me time. And I will use it even more once AI agents become a thing I will hopefully have my own set of AI agents to do a whole bunch of routine tasks for me, I hope. Anyway, as far as my podcast about the cats, the Jersey podcats podcast, my partner has been missing an action lately, but I'm hoping to get together and do one soon because Richard and I adopted a couple of little black kittens and they're adorable and I have so many stories to tell, so hopefully that one will get going. And then I also have the meetup group podcast and YouTube creators community. And the next one that we're going to do is going to be June 24th on marketing your podcast. Tips for marketing your podcast. And we're gonna be doing a hybrid. We're gonna do it on Zoom. We're also gonna have people come up to the studio and record from this table where we are right here. Sonia Satra is my co host, and then Rob Greenlee, who has been in podcasting from about day one, is going to be coming too. So we're hoping that for the people that come, we're doing a hybrid in person on Zoom. We're hoping for the people that come in person. We have enough space in the studio to cram them all in here, so we can do it from here. So that's going to be exciting. And then in July we're going to be doing branding. And then I think September we're going to kick off with AI tools for podcasting again.
So that's going strong. I really enjoy doing the meetup and I enjoyed the people that we have come on and present. Enough about me though, now I'm going to move on to our next topic and it's our medical minute, and I've been looking for AI medical minutes because I do think you do need doctors in medicine, obviously, but I think AI can help the doctors in a lot of ways. And this one, I asked for examples of AI in medical practices and I found this online Telemedicine. So AI applications enable remote diagnosis and treatment of wounds. So if you can send a high resolution image of a wound, AI can analyze it and detect subtle changes indicating complications.
And it's especially good in remote areas where people don't have access to doctors easily. So if you get hurt and you go to the doctor, they can look at it and then they can monitor it, like every few days or so. Most phones have a good enough camera now to do this. AI is good and bad and we just have to wrap our heads around it. And I was talking to somebody who said, you know, we just as humans Cannot. We don't know how to comprehend this yet because it's so new and it's so different than our human experience.
But moving on, I would like to introduce Sophie McGowan. And she has ear sass e a r S A S S.
It's a jewelry company and she has her designs online, and they are stunning, quite honestly. So, Sophie, can you please tell us your story?
[00:36:02] Speaker B: Yeah, of course. And thank you very much for having me on here as well. Like I said, I actually do live in Scotland, but my partner and I, we also live out in Denmark as well, so. So I kind of float between the two countries. As I say, I started IRSAS in the first lockdown. I've always loved jewelry. It's been such a passion of mine. I remember making bracelets and earrings when I was really little, and I would sell them in the local post office and in the hotel, I would be making jewelry and we'd have, you know, the guests could buy it there.
I've studied fashion design and interior design, and I've had the chance to work with some of the most incredible mentors and people.
And I just felt like there was sort of a bit of a calling and an opportunity for me to really be the creative person that I knew I always was supposed to be. And I thought, right, I'm going to start my earring business and did that in the first lockdown in basically in my little office studio. And I sort of started off by actually physically making them. So I would have the products, I'd be mixing the chemicals, the resin with the powder, and all the rest of it. And I didn't quite realize then that you needed to have a very specific temperature and an environment in order for that to set and for it to work. And so there was a lot of what I call smash tests, where I just didn't have the right environment for it at all. I didn't have a workshop or. It was basically an office, you know, my. A spare room that I turned into an office.
So I then decided, well, I must be able to find a manufacturer that I can create these designs with, and did that and then had them make the pieces and. And then they would ship the pieces to me and then I would actually physically create the earrings from that as well. So it's. I think, as well, is that when I was doing that, I kind of knew the fact that because it was such a success and, you know, we were friends of mine had created a website for me very quickly and an Instagram. We'd start that and they were selling and people were absolutely loving them. So I had to scale it by having the parts shipped and then I could actually construct the earrings myself. So yeah, it was a very creative time for me to be able to sit and just think, right, what is it that I want to do? What do I want to do in this time to benefit me and others?
[00:38:40] Speaker C: The jewelry business is pretty competitive.
[00:38:43] Speaker B: Well, it wasn't actually as competitive when I first started. The type of brand that I wanted was always affordable. So I guess you could call it fast fashion. And there was only really that available in shops and in stores. Yes, there was other big brands, but it wasn't as competitive Three, say, three years ago, four years ago.
[00:39:05] Speaker C: Do you rotate the designs rapidly or do you have sort of tried and true designs that are crowd pleasers?
[00:39:13] Speaker B: Obviously we, we go by seasons in advance. And an example of certainly this spring, summer is that we really wanted to launch what we call the soul collection, which was based a lot around gemstones, crystals, pearls and you know, that's very, very, very trending anyway, but it's very close to me. I'm obsessed with crystals. They're all over my house and anything that's colorful. And this whole new collection really came from my love for that. But it's very, very trendy as well. And this collection was physically handmade by me. So I was, you know, all the designs that we came up with and then I physically sit and I'm stringing everything and making sure I've got the right parts. You know, we've, we've had a situation where a certain crimp bead that needed to go on the ends that would then secure everything that wasn't working and it didn't work properly. So we had to go a bit back to the drawing board and make sure that we got another one from a manufacturer that worked really well. Again, it's this whole kind of strength testing and snap testing of things. It's very handmade and it's not, you know, it's not coming from, from machines. I mean, obviously we have a lot of our earrings, you know, that is, they are designed and then manufactured. But we wanted. Because when I first started the business, it was all handmade. So I kind of then started following a trend in particular, you know, gold plated jewelry, and then kind of realized, well, actually we're just in this market the same as everybody else. I just wanted to really come back to the reason why I started irsas, which was creating jewelry and bespoke pieces that were for myself. But, yeah, we are in an unbelievably competitive market. Huge with. With companies that have got millions and millions of pounds behind them for marketing.
[00:41:05] Speaker D: Right, so what are you doing with your marketing to differentiate yourself? So what is your best marketing tool?
[00:41:10] Speaker B: I think the best marketing tool I had was that the Princess of Wales wore my. One of my designs.
[00:41:16] Speaker C: That would help.
[00:41:17] Speaker B: That definitely helps.
Yeah, that was. That has scaled the business just in. In a totally different way.
[00:41:24] Speaker C: So how did that happen?
[00:41:25] Speaker B: It's a very sad story, but it's also a very happy story. There's always something incredible that comes from total tragedy. And the. In 2023, we lost my beautiful cousin to suicide. Izzy. And she. Yeah, she was just one of those very, very special people and phenomenal within our family. So to lose her was just absolutely massive. And she lived in a beautiful area in England which was. Is called Maiden, Cookham and Maidenhead. So it's right by Windsor where the king lives. And she was a massive rugby player and coach.
So the Princess of Wales took on the job of being patron of rugby and football from Prince Harry when he decided to no longer do that anymore.
And so she has a charity called Shaping Us, which is all about getting really, really young kids into sport from a very, very early age, that we believe, or certainly the charity believes. And we. Well, we all believe this is that it really helps with their mental health and getting them out, whether it's tennis or it's football or it's rugby or whatever kind of sport that it is. And very, very young children, again, going back to Covid, you know, they couldn't do that. They were just indoors constantly being homeschooled or maybe in their backyard, but some people didn't even have that.
So she was looking for a rugby ground to go to or a rugby club to go to to talk with them about mental health and sport.
And she chose to go to the ground where Izzy was a coach and her mum's a coach and she was a player.
And obviously when that happened, the club had to notify her people that there'd obviously been a huge loss.
So that when she did come, because it was only two months later, obviously she was made aware about Izzy. And then she was told that her mum would be there because she's part of the club and is a coach as well. And so her mum said to me, you know, the Princess of Wales is going to be at the club. Do you think maybe what we should do is gift her a pair of. A beautiful pair of gold star Earrings that I had designed and then named after Izzy. And sort of going back to the ethos of Ersas, when I first started, all of my designs were named after inspirational women in my life. Or, you know, it could have been the fact that I'd known that person for my whole life, or I've struck up the most amazing conversation in a bookshop with someone and I knew that their name was, I don't know, Irene or something. And I thought, I know I'm going to name these gorgeous earrings after you. So I named the star earrings after Izzy and called them the Izzy Star.
And we also knew that we wanted to work with the charities so that when we launched them, we would donate a percentage of the earring sale to a chosen charity. But we hadn't quite kind of got there yet with what charity we wanted to work with and what one would be very close to us.
So we decided, yep, okay, that would be great. If you get the chance to meet the princess, then, yeah, let's give her a pair and talk to her about Izzy. And talked to her about what we're going to be doing working with the charity that we're working with and why.
And I didn't even really speak to Izzy's mum, Sarah, after or really that day. It was only literally when my phone started pinging because the press were there and they saw the gift that was being given to the princess and they wanted to know what it was. And of course, then they found out what it was and the story behind it.
So it wasn't just something very random. It was something that had so much meaning behind them.
And then I saw it in the press, and of course, they were so moved by the way that Kate had embraced Izzy's mum and basically, from one mother to another, of feeling such horrible loss.
And it was just. It was so moving and it was just very classic of our princess. She's just so wonderful and compassionate and genuine and works a lot with mental health charities.
And, you know, she said, you know, I will. I will wear them, thank you, and obviously said, thank you so much. And. And then, you know, everybody left and she had the most wonderful day playing rugby with everybody. And I kind of almost forgot the fact that she'd had them. I mean, obviously, you know, in my mind, it was like, you know, wow, one of, you know, our Princess of Wales, one of the biggest fashion world's fashion icon, has got a pair of earrings maybe sitting on her dressing table.
You know, isn't that just so wonderful? And that it's Part of Izzy. And, you know, I kind of didn't really think, oh, when will she wear them? And it becoming such a big thing. And then obviously, you know, we know that World Mental Health Day was around the corner in the October, and we do an awful lot on our social media and talking in general all the time about. About mental health and suicide. It was just such a surreal day because for us, it was gonna be such a moment of another realization, another sort of memory of the fact that we've all got to get through another day of losing Izzy. And then again, my phone is sort of pinging, and I turn around to Jaz in the office, and I said to her, I think that she might have worn the earrings. And this was on World Mental Health Day. So not only did she have them and receive them, but she could have worn them at any point, but she decided to wait until World Mental Health Day to wear them to honor her and to remember her by. But not. But to remember everybody who has lost their life through suicide. And it was just so.
The impact was just incredible to our family.
And having her do something so special as that, it was just incredible for so many people.
[00:47:28] Speaker D: So what a wonderful person for the world.
[00:47:31] Speaker B: Yeah, it really. It really was. And then, you know, she, obviously, she wore them on that day. And then where Izzy went to school, which was in a village called Marlow, which is again just near where Izzy lived, she wore them again two days later because she was in that area and wanted to honor her again.
[00:47:52] Speaker D: Can I buy a pair of these earrings?
[00:47:54] Speaker B: Yeah. Yeah. So. So the charity we decided to go with is. Is a charity called Brave Mind. And Simon, who founded the charity, was an ex rugby player. And he went through some horrendous mental health himself because he had a spinal accident. And then it meant that he could no longer play professional rugby. And there's a huge amount of stigma in. Around mental health and suicide in sports and the pressure of the performance.
And so he decided to start Brave Mind, where they do an awful lot of education.
So we, you know, we all talk about the fact that we should talk more about mental health and we should speak more to each other, but actually, it's kind of really about. More about spotting the signs, whether that's in the workplace or it's at school or it's any environment is. Is actually looking and seeing if somebody's behavior has changed and actually asking the question of, have you ever felt suicidal?
Not just asking how you are or are you okay? But actually asking those words and they're the hardest thing that you could possibly ask anybody that is going through any kind of mental health because you feel like you don't want to say that to them because perhaps they're going to react in a different way. But then perhaps you might open up a whole can of worms. But it might be such a great can of worms to open.
[00:49:18] Speaker C: So I want to ask Dan, do you have any thoughts or comments that you'd like to ask Sophie?
[00:49:23] Speaker A: Well, first of all, I'm a huge rugby fan, so I don't root for Scotland though, even though I love Finn Russell.
[00:49:31] Speaker B: We love fibs.
[00:49:32] Speaker A: I'm so sorry. I don't root for Scotland. I root for Italy because they always lose. As an entrepreneur, I'm a big underdog fan.
Well, I'm just curious. I mean, it's a fascinating story and I'm just curious. Elizabeth raised the point about how do you kind of separate from the fray? So I'm just wondering if you have any like really neat marketing tactics that you've used. Anything like out of the box or like something wild that you've done?
[00:49:56] Speaker B: Yeah, I have a PR agent and we have marketing. And if we just go back to the fact that there is so much competition, we do throw our jewelry at people and literally, like, you know, we're constantly reaching out to influencers, we're constantly reaching out to different types of celebrities. But obviously we, we don't just want it to be anybody. It has to be people who are, you know, if it's an influencer, we have to make sure that they have the right custom, that we want the right reach. There's no point in us just gifting our jewelry to people that if they were to wear it, their reaches, nothing, it's not going to benefit us at all. It only really benefits them because they've been gifted the jewelry and you know, we want them to be doing some really lovely, you know, user generated content for us that actually is going to benefit the business.
[00:50:46] Speaker A: Is it a quid pro quo? Is it like, hey, I'm sending you jewelry, you have to post five. Like, how does that work?
[00:50:51] Speaker B: So it is something that we've only really just started to tap into is actually doing paid user generated content.
So I can't really comment much on that at the moment because we're just putting a program together. Like for instance, you know, the other day I said, right, let's pick an amazing influencer who's got say 110 million followers. You pick a person, but then you have to really, really look into Whether or not it's going to be beneficial for your business, are the people that are following them, are they going to engage and they're going to be like, oh, I really love this. This is amazing jewelry. I'm going to buy that.
[00:51:27] Speaker A: A lot of people have a lot of followers. They don't even have a lot of engagement.
[00:51:30] Speaker B: It's just. So this is it. Yeah, exactly. So we're at that stage and, you know, I phoned up my PR agent, I said, right, let's chuck £3,000 at somebody who's got loads and loads of followers and they're fantastic. And we were all a bit like, whoa, whoa, whoa, whoa, whoa, hold on a second. This is. That's not. Let's actually take that budget and spread it right the way across.
Even if it was a hundred sort of micro influencers, but they've got the right customers and tap into some more stylists. It's sort of an ongoing sort of strategy at the moment that we're really sort of tapping into in that side of things, is that we're not just going to go and throw loads and loads of money at influencers that. That will then do one reel and one story post for sort of four and a half thousand pounds.
[00:52:14] Speaker C: I love the name Irsas.
[00:52:16] Speaker D: I love your story, it's amazing.
[00:52:17] Speaker B: But how do people find you earsass.com and then we. Our handles are on Facebook and Instagram. We are just earsass E A R.
[00:52:27] Speaker D: S A S s dot com. And really, I encourage everyone who likes jewelry or knows someone who likes jewelry.
[00:52:33] Speaker C: I don't go connoisseur, but I went to the website and I was. I thought the pieces were great and then I looked at the prices and I thought, this is really reasonable, this is good stuff.
[00:52:42] Speaker D: And then you bought me something.
[00:52:44] Speaker B: And of course, with. With the Izzy Star, we donate five pounds to bravemine, the charity. So from all the sales so far, we've raised over £20,000 for the charity, which is just amazing. And our US market is huge.
It's incredible. So we're. We're so grateful to everybody in the US that support us, which is amazing.
[00:53:05] Speaker D: That's awesome. Excellent. Thank you, Sophie. So, listeners, you are listening to the Passage to Profit show with Richard and Elizabeth Gearhart and our special guest, Dan Berger. And you've just heard from Sophie McGowan. Don't go away, because we still have secrets of the entrepreneurial mind coming up. We'll be right back.
[00:53:24] Speaker E: Man, I had a rough night's sleep, boy. I got a letter from the IRS yesterday and I just couldn't sleep. Man, I'm dying here. Somebody help me. IRS problems affect more than just your finances. If you're ready to take back control of your life and you owe more than $10,000, you need to call the tax doctor. Their expert staff can immediately protect you from the IRS and state collectors and get you the best possible tax settlement guaranteed. The IRS has recently released new programs geared in helping struggling taxpayers where you make qualify to settle your tax debt and wipe out up to 85% or more of what you currently owe. If you owe $10,000 or more in back taxes, call the tax doctor right now. See if you qualify to pay less.
[00:54:08] Speaker F: 8002-6219-2680-0262, 1926.
800-262, 1926. That's 800-26-1926.
[00:54:23] Speaker E: It's passage to Profit.
[00:54:25] Speaker C: Alicia Morrissey is our programming director at Passage to Profit, and she's also a fantastic jazz vocalist. You can scroll to the bottom of the passageprofitshow.com website and check out her album.
[00:54:39] Speaker D: Our special guest today, Dan Berger. And we have Sophie McGowd. And we've just been having a wonderful entrepreneurial discussion. Now it is time, time for Secrets of the Entrepreneurial Mind. And I am going to go to Dan Berger first. Dan, what is a secret you can share with our audience?
[00:54:57] Speaker A: We talked a lot about AI, talked about go to market. I think go to market is probably the most important skill an entrepreneur can have because the faster you find your customers or your potential customers, faster you can sell. So I think go to market's the most important thing.
[00:55:11] Speaker B: Yeah.
[00:55:12] Speaker A: And I think a lot of times people put the cart before the horse and they end up spending money before they even know what they should build. Because of that, there is a bunch of new tools in the go to market space where they combine basically list generation and AI in order to create the most ideal list of client, potential clients. And there's a company called clay, clay.com. and basically you can write using AI and connecting to a bunch of data providers. It can find you the ideal customer list for what you're looking for.
So that is my secret. And don't tell anyone because we are at the, we are at the very early adopter stage, so no one can know about it because then it will just become another tool.
[00:55:55] Speaker D: Clay.com. thank you. We'll have to use that.
[00:55:57] Speaker A: No, we just said don't you don't use it.
[00:56:00] Speaker D: We're not going to tell anyone. But we're going to use it.
Okay. Sophie McCabe, what's your secret? That was a good secret, Dan.
[00:56:09] Speaker B: What's my secret? My secret is you have to keep an eye on our social media and our website because we are launching a new product that is going to be amazing. And I can't really talk much about it either.
It will be completely interactive. It will mean that you have to put your devices down.
It will mean that groups of people can get together and do it and it will be gorgeous and it's so creative.
[00:56:38] Speaker C: That was quite a teaser.
[00:56:39] Speaker B: When we, when we launch. When we launch, you'll definitely know because we're going to be doing an amazing launch in the US as well, actually in New York.
[00:56:47] Speaker C: Sounds great.
[00:56:47] Speaker D: Sounds really good.
[00:56:48] Speaker B: Yes. To be very exciting.
[00:56:50] Speaker D: Can hardly wait.
[00:56:51] Speaker B: You will know, I promise.
[00:56:53] Speaker D: Okay, good.
Richard Gearhart, what is your secret?
[00:56:57] Speaker C: Keep your powder dry. I never actually know what that means, but it sounds like such a good advice. I thought I would make that my secret this week. I think it means watch what you're doing. I think it refers to like old fashioned guns and muskets. Right where you, you would put gunpowder in and if the powder was wet, you couldn't fire.
[00:57:18] Speaker B: So I'm going to remember that one.
[00:57:20] Speaker D: Okay. But that was a very odd secret.
[00:57:22] Speaker C: I think a secret that is really important are a lot of the things that we've talked about today and I would say appreciating your freedom as an entrepr.
I think a lot of entrepreneurs get so focused on the business sometimes they're almost in panic mode. They're feeling anxious. There's a lot of things going on. Just remember why you got into this and why you're doing it and take a breather. Focus on the freedoms that you have as an entrepreneur and not just on the obligations. I think taking a step back can really help, especially during difficult or stressful times. Take some time off and enjoy some of the freedoms that you have as an entrepreneur.
[00:58:08] Speaker D: Yeah, I mean, you may not know what a weekend is because we work all weekend, but you also don't have to worry about what PTO is. Paid time off because you're not in the corporate sphere. So I think that's good advice.
[00:58:19] Speaker C: That is sometimes a challenge.
[00:58:21] Speaker D: So mine is going to be never quit learning. I'm constantly learning and I have these people helping me in the studio now. The NJIT professor, Wally, he's in his 70s and he just wanted to learn something new. So that's why he's doing it. It's very Cool. And I see Dan has a comment he wants to add.
[00:58:38] Speaker A: Given that we may or may not enter a recession, now is a good time to use ebay to sell things you don't use, because people look at secondary markets when there's a recession. And you can use the money you make off that to start your business.
[00:58:51] Speaker D: That's better. Brilliant. I could probably make a few thousand.
[00:58:54] Speaker C: If you sold all your shoes. We have to pay our mortgage for six months.
[00:58:59] Speaker B: Yeah, I use Vinted all the time. I've literally got about 350 pounds sitting in my Vinted account, where you just sell clothes and just get rid of it and get rid of it and get rid. And then I'm just saving it, saving it, saving it, saving it. And then it's just there.
[00:59:11] Speaker D: That's what I had to do, though. I had to ask my helper here if she would sell all my stuff on ebay for me. Anyway, that's a great secret.
[00:59:18] Speaker C: That's great. So that's it for us this week. Passage to Profit is a nationally syndicated radio show appearing in 38 markets across the United States. In addition, Passage to Profit has also been recently selected by Feedspot Podcasters Database as a top 10 entrepreneur interview podcast. Thank you to the P2P team, our producer, Noah Fleishman, and our program coordinator, Alicia Morrissey, and our studio assistant, Rishiket Bussari. Look for our podcast tomorrow anywhere you get your podcasts. Our podcast is ranked in the top 3% globally. You can also find us on Facebook, Instagram X and on our YouTube channel. And remember, while the information on this program is believed to be correct, never take a legal step without checking with your legal professional first. Gearhart Law is here for your patent, trademark, and copyright needs. You can find
[email protected] and contact us for a free consultation. Take care, everybody. Thanks for listening and we'll be back next week.
