Navigating Entrepreneurship: Insights from Maryanne & Isabel on Business and Life Balance
In this episode of 'Seasoned Women, Serious Business,' Isabel welcomes Maryanne, a seasoned entrepreneur in the automotive industry. They discuss Maryanne's journey from finance in banking to running a successful automotive business alongside her husband.
Maryanne shares valuable insights on the importance of transferring skills across industries, the challenges she has faced over the past 25 years, and the role of women in traditionally male-dominated fields. They delve into leadership versus management, the significance of work-life fulfillment, and strategies for making a business sustainable, enjoyable, and sellable.
Maryanne also discusses her 'Small Biz Vantage' framework, designed to help auto shop owners gain more productivity and reward from their businesses. The conversation is filled with golden nuggets of wisdom for business owners looking to enhance their business acumen and life satisfaction.
00:00 Introduction and Warm Welcome
01:22 Maryanne's Journey from Corporate to Entrepreneur
04:39 Challenges and Changes in the Automotive Industry
06:14 Developing a Successful Business Framework
08:13 Empowering Women in the Automotive Industry
13:49 Balancing Work and Life Fulfillment
20:21 Leadership vs. Management
23:58 Final Thoughts and Personal Insights
To connect with Maryann, visit her website: Small Biz Vantage
About the Host:
Isabel Alexander
Your Next Business Strategist and Transformation Catalyst
Isabel Alexander's journey from modest beginnings to global recognition epitomizes entrepreneurial resilience and innovation. With over five decades of experience spanning diverse industries, she has become a driving force in shaping economic landscapes worldwide. Noteworthy accomplishments include founding a multimillion-dollar global chemical wholesale business and earning accolades such as Canada's Top 100 Most Powerful Women.
As a mentor and advocate, Isabel empowers women entrepreneurs through initiatives like the Lift As You Climb Movement and podcasts, guiding them from startup to maturity. Serving as Chief Encore Officer of The Encore Catalyst, she dedicates herself to coaching and educating emerging entrepreneurs. Her involvement in organizations like RenegadesReinventing.com and Femme on Fire underscores her commitment to leadership and business development.
Additionally, Isabel's advisory roles with government bodies and trade associations, such as Chair of the Canadian Association of Importers & Exporters, highlight her influence in shaping trade policies and fostering international relations.
Driven by her mantra, "Lift As You Climb," Isabel embodies the ethos of mutual growth and empowerment. With dual citizenship in Canada and the United States, she values her extensive family and embraces global connections through travel and professional engagements. Isabel Alexander's narrative serves as a beacon of inspiration, illustrating how visionary leadership and strategic advising can drive global entrepreneurship and economic independence forward.
Founder:
The Encore Catalyst Facebook page ( https://www.facebook.com/TheEncoreCatalyst )
and
Chief Encore Officer, The Encore Catalyst (www.theencorecatalyst.com) – an accelerator for feminine wisdom, influence, and impact.
also
Author & Speaker ‘Who Am I Now? – Feminine Wisdom Unmasked Uncensored’ https://whoaminowbook.com/
LinkedIn: https://www.linkedin.com/in/isabelannalexander/
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Welcome, Maryann I'm so delighted to have you here today on Seasoned Women,
Serious Business, because I know, because I've known you for a number of years,
that you are wise enough to want more.
And not only are you, but you also share how to do that for other people.
Let's have a conversation.
This sounds great.
Thank you so much for
having me here, Isabel.
Maryanne and I met while we were figuring out other ways to use
our limitless energy and creative thoughts, and also how to reach
our customers in a different way.
And so for me, that was such a bonus.
And then later Maryanne came on my serial entrepreneur summit in
2021 and shared a lot of wisdom.
So it's good to reconnect with you.
And find out what you've been doing, in the last couple of years.
For my audience, your bio will be in the show notes, but the highlights are
why I so immediately connected with Maryanne is that we both came up in
our business entrepreneurial experience in traditionally male businesses.
Marianne is in the automotive space.
So please, for our listeners and our watchers, Marianne, tell us a little bit
about how you went from the corporate life in finance, I believe in banking, to the
entrepreneur champion that you are today.
Yes, this is my example of why we have to trust the journey, because I actually
grew up in the construction space.
My family had a small remodeling construction business, and I really
admired and respected these people.
They were, to me, the fixers.
They were able to fix anything that was broken and take care of people.
As I got older, I ended up in banking and loved that part of helping people.
Financial literacy, I saw and learned as a really big problem.
And I was so glad to be able to help people with that.
Fast forward a few years later, I ended up having a family.
And my husband, who had been in the automotive space for quite a while,
decided that it was time to open up our own business, automotive shop.
We purchased a business that he had worked at for a couple of years.
We opened up our shop and that was in 1999.
What I realized, was I didn't know enough about the automotive industry.
That was something that I believed.
So I wanted to get really involved with associations and training
to learn and I was like a sponge.
I soon realized what was working for us, what would be what I call our
secret sauce, was that the banking background that I had was very
transferable to help me run a business.
Lessons that I learned in the construction space were really
transferable to the automotive space.
Some of the issues were still the same.
Hiring, customer service, all of that.
So I realized very early on that the skill sets that I had were transferable.
Another thing that I realized very quickly was that there weren't a lot
of women in the automotive industry.
there was a great opportunity for women.
I love this Mary Anne, because it's so aligned to a
recent episode of the podcast.
I talked about why I believe that seasoned women with mature businesses excel.
And it's because as you said, the transferable skills,
the lifetime experience.
You don't leave one thing and then start learning to be something else, you're just
building on what we have already learned and accumulated, which is why I think we
are just like incredible vault of wisdom.
And if I did my math correctly, I think you're 25 years?
Yes, we're celebrating
25
years this year.
Oh, congratulations!
And that's the other aspect of all of this.
The fact that through those 25 years, and I can think historically, there have
been a lot of times when it must have been very challenging for your business.
And you have seen a lot of changes in the automotive industry with the
big box kind of mentality, right?
Oh, there's been a lot of change, yeah.
And to go on, I guess now I'm getting even more excited about our conversation
that your journey, how that led to the evolution of what you also do today.
So what you talked about challenges, you talked about change, right?
And I say, trust that journey because there's lessons there.
There's golden nuggets to be learned along the way.
There was technology, changes in the workforce, changes in the
perception of the skilled trades.
With all of that and getting through COVID, there was no way that Tony
and I couldn't get through the last 25 years without an amazing team.
We couldn't have done it without them.
But learning those lessons to navigate change and be on top of the technology,
stay current, was really key.
I realized that we had a system, a way of doing things that was really working.
And we were able to get through challenges, get through different
obstacles, because we were really focused more on solutions, instead
of getting stuck in them.
And again, with the support of our team, we were able to navigate
through those types of things.
So what I started was forming my framework, putting it together,
my system, what worked for us.
And I volunteered and offered to, at different associations to speak and really
organically with the training that I had, the coaching that I had over the years.
I developed Small Biz Vantage and I help single location auto shop owners.
The idea is to help them get more, right?
Have more, not have to do more, not have to take more time.
To be more productive, to be more focused and be able to have a successful business.
But also have a rewarding life.
Don't sacrifice your life for your business.
And those are the people that are, the absolute ideal and best clients for
me to work with because we're aligned.
We want the same things.
And that's what I want to be able to do is share that with
those clients, those shop owners.
Thank you.
And I believe that there are more of us out there who, as seasoned entrepreneurs,
realize it was hard shit to get through and the lessons were costly.
So why wouldn't we want to lift as we climb and give a hand up to
somebody else who would benefit from the education that we've had.
I really appreciate you doing that.
there's lots of people that are coaches, today in the world, especially, they're
coaching from a textbook, but you're coaching from hands on experience
as you learned over the decades, over the years with your business
through good times and bad times.
Yeah, being a practitioner definitely has an advantage because
you're very relatable to people.
You understand.
And with talking to clients, and meeting people, shop owners at
different conferences, or even online, when they reach out to me,
I found that there are a lot of women that are supporting these men.
They may not even be on the payroll, but they could be a family member, a wife,
a girlfriend, a, daughter, a sister, and they are actually supporting in
a lot of ways and have a strong role.
And a lot of times that role really isn't recognized.
So this was another opportunity to open up the door and validate
women that are in the industry and encourage more women to come into it.
Even if it's not the career that they initially started out or the industry
that they thought that they would be in let them know that a lot of the
skill sets that they have are very transferable and that they're needed.
There's an opening.
There's an opportunity for them.
This is especially true in small business, right?
Every single skill set is required.
You can't be a specialist in those foundational years.
You have to be a generalist, but we should never underestimate what our
contribution could be or how we earned it, like what we've learned in our life.
Or, even our, just our own strengths or personalities.
As women generally, we are considered more of a nurturing,
supportive, collaborative group.
You spoke about your team and I'm sure that, although I don't know
Tony, but the fact that you have that built in way of doing things
that you were able to develop a team.
As small business owners always, Challenging to find the time to step
away and see these things; like get away from the windshield in your vernacular
and really see where are the problems.
I know that you hold some events, for.
people in your industry to help them, like your 3 Day Weekend,
The 3 Day Weekend
is actually a program.
It's coaching along with, a system that I created and basically what
it is it's showing them how to gain, 10 hours a week in 90 days.
And it's amazing what they do when they're able to free up that time, right?
Is it working more on your business now than in it?
Is that what you need to do?
Is it spending more time with family and friends, whatever it is?
Because here's the thing, every single business out there, as
Isabel, it's, there's nuances to it.
Every single automotive shop is not exactly the same.
So I don't want to come up with a cookie cutter approach to people.
And it's not only, I think this is really relevant to you and your podcast, it's
not only the stage of business that you're in, but it's also the stage of
life that you're in as well, right?
That's so important.
So my goal is to help clients design the business that works for them.
At their stage of business and their stage of life.
And as they grow and they go into a different stage, then
the needs will change, right?
And we customize that.
So that's really the idea.
I do lives every week, at 2 p.
m.
on Tuesdays, Eastern.
time They're quick..
They're called business leadership in 15 minutes.
I'll share the link with you, but, people can sign up and it gives
them a taste of what, the, three day weekend system and coaching is like.
Who wouldn't want to have a three day weekend?
You don't have to be a slave to the business and deny yourself
a full, rich life and prioritize things that are more important.
I like to say more and different.
My conversations with women at business owners now, because my audience is
primarily female business owners, at this stage in life or that stage in
the business is OK wanting more, and whether that's more freedom, More
time, more fulfillment, more financial certainty, we all want that, and more fun.
That transcends all industries, but especially for those of us that are
in the baby boom generation or coming up into it, that life has taught us
that, it isn't just all work, that there is more to developing our legacy, but
it doesn't mean that we can just walk away and let everything fall apart.
We still have to be the leaders of the business.
So I'm really glad that you're there in a position to share leadership tips.
I love what you said about what it is that people want more
of and it's individualized.
And I love that because the idea.
Of course, a business needs to be profitable.
we all know that.
But I think there's two more pieces to that; it also has to be sustainable
so we don't burn ourselves out.
And A lot of times people forget it needs to be enjoyable
so we still love what we do.
So if you were to picture, a Venn diagram, I believe that your business needs to be
profitable, sustainable, and enjoyable, and they're all equally important.
So that, yes, exactly what you were saying.
I couldn't agree more that you have that fulfillment and you find your
business rewarding, but you also have a fulfilling life as well.
I
used to absolutely hate the term work life balance because I thought
there is no such thing, especially if you're a mother, working mother,
and involved in community and family; we have a busy full life, right?
So I thought that is so much bullshit that we're supposed to just be balanced.
but I love the idea of deciding where the balance goes like a teeter totter.
Maybe this month you want to be more all in on your business to upgrade something,
change something, expand something.
And maybe next month it's, I'm going to go with the grandkids and we're going
to go and just have a great time, right?
Or maybe there's a health concern.
that you need to devote more attention to.
So that customizable, appropriate for the individual's circumstance,
stage, personal interests.
I like the term work life fulfillment instead of work life balance, because
just as you described, there may be a situation where You have a project at
work and it's a transitional thing that's happening, something new, and it's going
to take more time, but if you were to explain that to your family and talk
about something that you'll do after that project is over or that you'll arrange
your schedule that you'll be at your, child or your grandchild's, soccer game,
and you plan around that, your family, your friends can actually support you.
And then you plan something that you're going to do with the family.
And you feel like you're getting everything you need.
And you're there for your family, but you also feel like
you're there for work as well.
The project that you're working on and you're giving it your all.
So I agree.
I'm not crazy about work life balance, but I do work life fulfillment because
at times one will need more and the other may need more, but you feel fulfilled
and you feel that it's rewarding.
Yeah, I'm a hundred percent with you.
This is so fun because, I recently, created a program for women entrepreneurs
called the Crossroads Clarity Solution because of the conversations I'm having
in my networks that we're at this age and stage where we're not really sure
what is the most important or what we want to do or how to get to it.
It's fun because, it's that analogy also of being in the driver's seat,
which is a term I know you use as well in your business, and actually taking
a tour through the various options in business, whether that's, Just doing a
360 check and saying, no, this is good.
It's exactly where it should be right now.
Whether it's deciding that maybe, I've come to the end of the road,
is it, oh no, I want to go big.
I want to scale up.
This is the time in my life, or for many baby boomers.
This is the time to consider selling.
or transferring ownership.
Ultimately it's all about transforming your relationship with your
business and how you view yourself as the shareholder in a business.
Not that, clenched to the steering wheel, "I got to do it.
If I don't do it," which we know that's an accident waiting to happen, right?
If something happens to your health, nobody's able to take the wheel for you.
I couldn't agree more.
I think that, a lot of, in my world auto shop owners, struggle with seeing
their business as a separate entity, is not seeing it as part of themselves.
And that.
is the best thing once they make that shift and they see their business as
something separate from themselves.
They have that clarity then that they can go in and set up the business
in a certain way that they don't have to be there every single day.
They can be consulted, they can be informed about certain things, but they
don't have to be there every single day in the day to day operations.
Now, I'm not suggesting that you, if you've never done anything like this,
that you go and, leave the country for, two, three weeks, a month.
I'm not suggesting that.
You want to start off small, but being able to empower your team
and delegate and take things off your plate and trust them is huge.
If your business is manageable by someone else, and you don't have to be the one
that's there in the day to day, that your business will stop if you are not there
for a few weeks, if it's manageable by someone else, it's actually sellable.
Oh my gosh, Marianne, you are on the money and this is something, and I
know you do this because through your life experience, we're able to share
things that we've learned how to do, but also what we've learned not to do.
And that was a Huge mistake of mine in that I was the chief asset in my company.
I had not done enough of the work to make the business independent of me.
And I see this as a big problem in a lot of small businesses, right?
Because of that hands on the wheel, got to do everything.
So when a prospective buyer looks at the company, they will learn pretty quickly,
if you're missing from the picture, the value of the business Is gone, right?
So there's three parts, to the three day weekend system and the
coaching that goes along with it.
One of the parts is being able to gain control of your business.
I find that a lot of people think that means micromanaging, but actually what
we help them with is going from that micromanaging to leading and letting go.
So that's huge.
They can actually gain control of their business by letting go and not having
to be caught up in the day to day.
The biggest struggle that I see, I saw this in corporate when I was in banking
and I saw it in small business as well.
To simplify it in the name of time I see a lot of people, owners,
confusing leadership and is
management.
So when I define it to them, say management, when you put a manager
in place, Managers are really responsible for the outcome.
A lot of times there's KPIs that will give them, whether it's sales related
or how many widgets we're going to sell or, those types of things.
And so they are looking for that outcome.
Leaders are responsible for the people.
That's the biggest difference.
So I see a lot of people that are put in a management role and
say that they're managing people.
We don't manage people, we lead people.
And that's the biggest difference when I work with clients and they have that light
bulb moment and they understand that!
One example that I'll use is you'll talk about a project manager.
When we talk about people, we'll talk about a team leader.
So that's like a light bulb moment for people, because when you're a
leader, you're helping your team grow.
What is it that makes them tick?
What motivates them?
It's going to be different.
What are their circumstances?
So you're going to get to know what that person needs and you're
going to be able to support them.
Of course, they have to do the work, but you're going to be there to support them
and give them the resources that they need so that you can create more leaders.
That
is such a good explanation of the difference between the two.
I really appreciate that, thinking that a manager is responsible for
the outcome of something, and a leader is supports people to grow.
I love that.
Thank you so much.
Is there anything that is new or that you want to share with my audience who
maybe they own an automotive business?
or maybe they know someone who does, that they would get in touch with you.
And before you answer that, I realize I'm also asking, does what
you do apply to other industries or other kinds of businesses?
Yes, it does.
Business is business.
So there's, Five areas of business in every business.
You have the people, you have the operations, the financials, you have
the sales, and you have the marketing.
And really, when you think about those five areas or five
pillars, every business has those.
A lot of time, owners tend to complicate it.
But yes, this will work in other businesses as well, just that my world
is automotive and I have a lot of connections with associations and, events
that I go to that are in that space.
But yes, the principles that are taught will work in other
businesses as well.
Okay.
Because I know you have very good blogs, on your website, I would recommend for
everybody that is, looking to enhance your understanding and maybe your practice of
leadership versus management that, and of course, put the link to Marianne's
blogs and her company information there.
You're a true resource and I really appreciate your generosity, Marianne.
It's a pleasure.
So there's been a lot of gems in our conversation today, but is there
a specific pearl of wisdom that's coming to mind for our listeners?
Yes, I've been thinking about this recently and I do have one.
A lot of times people are resistant to make change.
Owners are resistant to make a change in their business and they'll think
of I have a lot of limitations right now of what's not going to, work.
Maybe I don't have the money, the time, I don't have the help that I
need, different things like that.
Or, my business needs me, I can't step away.
If you hold on to those limitations really tight, or you defend them constantly,
here's the thing that I realize.
You get to keep them.
You own them.
So the best thing to do is actually take a step back, or even if you're driving
that car, that analogy that you gave.
Take a look in that mirror, right?
That rearview mirror and see how far you've come.
Don't get stuck there or stay stuck there.
Let go of them and you will be amazed how freeing it is.
I so love that.
You're absolutely right.
Okay.
I'm pretty dang certain we're going to need to do a part two of this, a sequel,
because we've just barely touched the surface of this really important pivotal
time in our lives as business owners where we're at this level of, "Oh maybe, yeah, I
want to do something different, something more, but how do I get from there to
there, in a healthy, enjoyable way?"
So before I wrap up today, I would like to ask you, this is a fun part for me.
This is tough, I know, because you're a pretty prominent on social and
you're well known in your community and in your associations, but what
might be one thing that we would not find out about you on Google?
The first thing that comes to my mind is when I'm driving, I
love to sing with the radio on.
I absolutely love it!
I like the oldies, so I'll turn them on, especially, when I'm out
doing errands and things like that.
There's something about singing in the car that's just so uplifting
and pumps me up and fuels me.
So yeah, that's my little thing that I probably haven't shared
with many, if any people.
Have you got any recommendations for me to add?
Oh my
gosh, there's so many.
I go back to the 70s when I was in school, any of the fun music from there.
Bruce Springsteen; like really just get up and you want to dance; Billy Joel.
I think you touched on the magic formula!
It was the music of, and I'm older than you are, and I'm very
proud to say I'll be 70 very soon.
Good for you.
70 years.
Yes,
It is such an exciting time of my life.
The music of that era made us want to get up and move, right?
It was joyful, wonderful, freeing.
We released a lot of tension and emotion.
I think that's why there's more anxiety and stress today because we worked it
out by sweating to the oldies, right?
Exactly.
It's just fun.
Yeah.
Our dear departed Richard Simmons, sweating to the oldies.
That was his theme, right?
All right.
Thank you so much.
I know that you have businesses to run and other business owners to help.
I am very grateful for your time today.
I think this is a fabulously beneficial interview for everybody who has listened.
And I'm going to encourage you all, if you have questions for Marianne, of
course, her contact information will be in the notes, but also reach out to me
at hello at the Encore Catalyst and give me some ideas of what other questions
I can ask her when she comes back.
for her next interview on the show.
Thank you so much, Isabel.
All right.
Thank you.
See you soon.