“Start with what's most imperative for your life, that essential purpose. And then let's build a business that we can make sure fits that,” explains host Dan. Today, Dan is joined by the co-founders of Steph & Co, Jeffrey and Stephanie Chapman, to discuss the next steps for their business after scaling down and modifying this past year, as well as take a look at redesigning their KPI scorecard to include both trackable data and intangible or emotional KPIs.
In 2022, Jeffrey and Steph rebranded their business from ...
“Start with what's most imperative for your life, that essential purpose. And then let's build a business that we can make sure fits that,” explains host Dan. Today, Dan is joined by the co-founders of Steph & Co, Jeffrey and Stephanie Chapman, to discuss the next steps for their business after scaling down and modifying this past year, as well as take a look at redesigning their KPI scorecard to include both trackable data and intangible or emotional KPIs.
In 2022, Jeffrey and Steph rebranded their business from Clay by Steph to Steph and Co, moving operations to Nashville from California, and downsizing the team back to just the two of them. They also began a transition to working with less labor intensive materials to make their jewelry products. Instead of working their lives around their business, they wanted to start putting higher priority on their family and home life after the birth of their youngest child. Although the brand was successful before the changes, these value-based decisions ensure that the rebranded business will fit in better with Steph and Jeff’s lives.
Next Actions:
• Switch the sequencing. Instead of building your life around your business, build your business around the life that you want to have.
• Some KPIs are not just numbers and business data. Emotional KPIs like how you feel each day about your business are just as important to keep in mind when making decisions.
• Measure your business against the three pillars of relationships, expectations, and balance.
Quotes
• “Start with what's most imperative for your life, that essential purpose. And then let's build a business that we can make sure fits that.” (0:25-0:33 | Dan)
• “Our long term vision for the company was always to make it less labor intensive than it was.” (9:10-9:15 | Jeffrey)
• “We rebranded the company early 2022, as a step towards giving us the flexibility in the long run of leveraging some more of these products that we are offering that might not require so much overhead in the transition period.” (9:44-9:56 | Jeffrey)
• “Economy changing was one factor, and seeing numbers start to drop, that are KPIs that we've been tracking for a while, and trying to figure out what inputs were causing that.” (13:38-13:47 | Jeffrey)
Links
Connect with Jeffrey and Stephanie Chapman:
Website: shopstephandco.com
Clearing Obstacles: clearingobstacles.com
Podcast production and show notes provided by HiveCast.fm
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