Episode Transcript
[00:00:00] Speaker A: Where entrepreneurs come to grow it's passage to profit with Richard and Elizabeth Gearhart.
[00:00:06] Speaker B: It's time for your new business journey. And we'd like to ask our panel this penetrating question. When you look back, what was the one decision or moment that most changed the trajectory of your business? And what did it cost you to make that decision? Welcome to the show. Sonia, what was the one decision that you made that changed the trajectory?
[00:00:28] Speaker C: Gosh, I feel like I came. Can I only say one?
Because I feel like there were two, really. I feel like the first was just the decision to go to Hollywood because that changed the trajectory of my entire life, which really created the platform, I think, from which everything has evolved. And that was a big decision. Cause my family was very much the education. They've all got a million degrees. They, you know, know, have regular jobs. And I was like, hey, I'm going to go to Hollywood.
[00:01:01] Speaker D: Okay.
[00:01:03] Speaker C: So that was a. That was a big one. But I learned a lot because really, I think as an actress, you are an entrepreneur, and so you really. And you learn a lot about dealing with rejection and whatnot. So that probably was the single biggest decision that I made. And the cost? Oh, gosh, I don't know.
I got both. You know, you win some, you lose some with every decision you make.
[00:01:29] Speaker B: I guess you just decided to go to Hollywood. You didn't, like, have something lined up. You were gonna go to Hollywood with the purpose of being a star.
[00:01:39] Speaker C: So I had started in New York a little by mistake. Originally, I had done a modeling thing. And while I was at college working in the dining hall for cash, I was just like, gee, I wonder if I could get some more modeling. Cause that's more fun than being in a dining hall.
So I. I looked in the New York Times.
Not a good place to look for modeling jobs, but because it's every scam that you could imagine. And I ended up going to one of those scams, and it was like, hey, give us $10,000. We'll make you a star. And thankfully, I didn't have that, so that didn't happen. But through that, I ended up through a friend of a friend of a friend at an agency, and I started doing commercials. And then I had summer, and my sister was an engineer in la, and so I decided to go out there for summer break. And I auditioned for commercials out there. And that was really where I thought, if this is what I want, this is where I need to be.
So, yeah, I made the big call to my mom, like, hey, what do you think? And went back, packed up my very beat up Honda Accord, and I had about $500 to my name, and my brother in law offered to drive across country with me because I wasn't sure my car would make it. And there I was in Hollywood. And so, yeah, it was definitely a rude awakening when I got there because I'd gotten a little lucky with some of the commercials I booked in New York. And then I realized it's not so easy after all.
[00:03:11] Speaker B: But you did do it. So you have a jean sais quoi that.
[00:03:14] Speaker C: I think it's that decision. There's one decision that everybody makes and. And it's that one to be like, let's do it, let's go. Wow. Yeah.
[00:03:23] Speaker B: I mean, every entrepreneur, I think, faces that moment.
[00:03:26] Speaker C: Yeah, you do.
[00:03:27] Speaker B: Absolutely.
[00:03:28] Speaker C: That decision of do I go the safe route or do I take a chance and live my dream?
[00:03:34] Speaker B: Lisa?
[00:03:35] Speaker D: Yes.
[00:03:35] Speaker B: What was the one decision that you made that changed the trajectory of your business?
[00:03:40] Speaker D: Well, gosh, there are a lot of them. I think we have more than two. But the one that really stands out to me, which was really tough, was jumping ship from our original manufacturer.
And as you know, you know, you guys being in ip, how important it is to have a great manufacturer. Well, our first manufacturer we kind of stumbled upon, I had no background in manufacturing. We took whoever was available.
They were okay. But our first order of 5000 Rinse a roos arrived, and they were not what we thought they were going to be. So it was not good.
We did work with them for a bit. We worked through some issues, but they weren't great. And the thing is, we had invested in molds with them, right, as, you know, $20,000 worth of molds. And when you're starting out, like, you're like, oh, well, if we jump from there, we have to go and pay again.
So turned out we found another manufacturer also in China. They were willing, because they wanted our business, to drive to the other manufacturer, pick up our molds, and take them across the country or a couple hours away.
And yeah, we did that, and it was the best decision we ever made. The new manufacturer is fabulous. They work with us. They're helping us scale.
We meet with them weekly. They communicate, and it was the best decision ever. So that was it. Jumping from manufacturer. Don't be afraid to leave if it's not good.
Sometimes there's something better on the other side.
[00:05:12] Speaker B: Well, you know, that's such a great story because it has, you know, so many lessons in it. And one of the lessons that I connected with was picking crummy vendors from the start because you don't know any better. And a lot of new businesses do that. They're. They're desperate or they don't have the credibility to engage and interest other, better partners. Right. And so you end up with somebody that is a big disappointment.
[00:05:36] Speaker D: Yeah, yeah.
[00:05:37] Speaker B: And then you have to make the very difficult decision, am I gonna switch or am I going to stick with this person? And, you know, there's consequences to both. Right. I mean, they had your molds.
[00:05:47] Speaker A: Yeah.
[00:05:48] Speaker D: And then we're like, well, if we switch to this other one, how do we know they're gonna really be better?
[00:05:52] Speaker B: Right.
[00:05:52] Speaker D: Oh, it was another risk, you know,
[00:05:55] Speaker B: but, yeah, great story. Thank you for sharing that with our audience.
[00:05:58] Speaker A: Elizabeth, I've been thinking about this a lot, and I think that was the end of last year.
Well, the very first person we had on talking about AI was Kevin Serrace, like we said. And that was maybe. Maybe the middle of last year. Towards the end of last year. And then towards the end of last year, everybody that was coming on the program seemed to want to talk about AI. So I said to Richard, I have a segment on how I'm doing with the studio. I want to give up that segment and make it into an AI segment. And he said, okay.
And then he said, after a few of these, like, this is really good. We should make it its own podcast. And I said, yes, let's make it a podcast. And so I've been throwing myself in it whole hog, but I think it's getting a lot of attention and it's really important. It was a good decision to go the AI route. I mean, there's a lot of people that are against AI. There's a lot of weird stuff going on with AI right now. But for me personally, using it and helping other people use it is important, and I think it's a really good decision.
It's a lot of work to do a whole nother podcast because we do. We take segments from here, but we also do standalone segments for it, and there's a whole bunch of stuff that goes along with it, but I love it. So, yeah, it cost me more time, and maybe I'll have some people that are like, oh, you know, you shouldn't be advocating for AI, But I think I should now.
[00:07:19] Speaker B: You're the AI lady, right?
[00:07:21] Speaker A: Yeah, that's what they called me at podfest.
[00:07:24] Speaker B: Well, for myself, I guess. I guess starting Passage to Profit, I mean, with Elizabeth, was a big turning point for me personally. I mentioned earlier how I had to overcome my fear of public speaking.
And so that was a step forward for me, and it's exposed me to a lot of really interesting people. I feel like I'm the tip of the spear when it comes to new business ideas, and I love that part of it. And I look forward to the program every week and sharing all of our guest knowledge with our audience.
Hopefully they're finding value in the things that we have to present, and I just think that having a voice and being a participant in the discussion is a real honor. So I feel very grateful for the opportunity that we've had.
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