Tangled Rabbit (00:00) Welcome to Untangled, a podcast for founders and people considering becoming founders. This is where building a business gets personal. Each episode features honest conversations with founders about standing out in crowded markets, defining what makes them and their work different, and building something that actually fits. I'm Beth Elliott, and I'm glad you're here. Let's jump in. Beth Elliott (00:24) Welcome, Susan. Thanks for joining me today. You and I met, gosh, during the holidays last year, So as people do it networking events, we talked about our businesses, ourselves. I came away from that event feeling like there was more to be untangled about how you position your company. So about a month later, we connected for what would become my first unofficial untangling session. So to kick off. The Untangled Podcast, I wanted to showcase the outcomes of that first untangling session. In future episodes, you're going to listen in on the actual untangling sessions where we work with business leaders But today we're going to reflect on Susan and my conversation. from that first untangling So Susan, to start things off, will you tell everybody a little bit about yourself and your business? Susan Cevette (01:19) Certainly. I'm Susan Cevette I'm a wealth advisor. I have my own boutique firm, WatersEdge Wealth Management. I've been an advisor for a long time, I think close to 25 years, but WatersEdge Wealth Management is approaching seven years old. And I truly have a passion for my work. It wasn't like I came to financial advising going, that is going to be my purpose and my passion. know it. But I did come with a lot of well-thought out interest. And what happens over time is it became my passion. And now it's my purpose. And I think when I met you, I was, know, I've been, I've been through the, like when you own your own business, you go through a lot of phases, right? Through the excitement of creating it and the name and this is what I'm going to do. And then, and then life happens, COVID, down markets, all kinds of things happen. And I was doing the work, but I'd gotten lost in it. I mean, it'd gotten lost and it was like, I couldn't see the forest for the trees. And I think when we met, I was in that space. sort of like wanting to reinvigorate myself and not knowing how to do it. Beth Elliott (02:50) So when I met you and in networking events, right, you're in these spaces and you're trying to categorize people and lock them in your mind so that you can refer them on later. And when we came across, when we came away from that, I thought, okay, Susan is a wealth management person who does wealth management in cooler ways than all the other wealth management people. Like that's how my layman brain categorized how you spoke about yourself. Susan Cevette (02:54) Mm. Beth Elliott (03:20) And you said it in a way that I was like, I was intrigued because I knew I didn't get it yet. And I wanted to get it. And I knew that there was opportunities to like peel back the layers of what does that, what did that mean to you? And, and how can you, how can we talk about it in a way that when people heard you talk about it, you became instantly referable. Susan Cevette (03:25) Mm-hmm. Beth Elliott (03:46) So coming into the untangling set, actually looking at the untangling session itself, I'd love you to talk through what you remember from the untangling session. What was your mindset going in? What were your big takeaways coming out of it and those big aha moments? Susan Cevette (04:10) Yeah, I think when we sat down, you know, I was talking about my business the way I always do. I make a connection with people with money and, you know, we really transform lives and, you know, all those magical things that happen in an appointment that are, that really client walks away feeling elevated. But every time I... talk about it and I think even now just because of the untangling session, I'm talking about it a little bit more clearly. But in that session, it was like, well, this magical thing happens and I don't know, I just like whatever. And then I get twisted. I always get twisted when I'm trying to describe what I do and I feel like I'm in my mind, I'm thinking, oh my God, I just sound like every other financial advisor and find it really frustrating. So for me, that what was going on in the session. And then you kept pushing me like, who do you work with? You know, and I have those statistics. 70 % of my clients are women. 30 % are men. um, and I, you know, when we talked about, said, I do really well with, uh, single women, women who've been widowed, divorced. work really well in the LGBTQ AI space. You know, and then you kept pushing and pushing and pushing. I got a little uncomfortable. I remember being uncomfortable. And then I told you a story about a client who I'd recently lost. Like in my profession, we have relationships for 15, 20 years. We don't lose a lot of clients. So losing a client is a big deal to me. And I described what had happened with that client that She was in a new relationship and met with her partner and her and it just didn't feel like it had gone well and then she left. And you said something to me that was just mind blowing. You said it's because she wasn't your client anymore. Because I focus on single, divorced, widowed, head of household women and she wasn't that anymore. And then all of a sudden it was like, wow, you're right. And the stress of losing the client went away too. It was like, ⁓ and then you described your situation to me, which was helpful. And you're like, I'm not your client. I'm like, Beth Elliott (06:50) So it was great going into that, right? And so as one of the things I asked Susan, as I was pushing on, who is your ideal client? And the first thing you told me is women in their forties. And I looked at you and said, I am a woman in my forties and I'm not your ideal client. And you, and you leaned back and you're like, tell me more about this. And so for those who are listening on the podcast, Susan Cevette (07:03) Mm-hmm. Beth Elliott (07:20) This is what Tangled Rabbit does, right? We start putting that perspective in front of you of really who are you trying to sell to? Who are you building for and why is it important? So reflecting back to Susan in that moment, I said, I have been married for over 20 years. Good, bad, or otherwise, we have our divisions of labor and my husband handles our finances and we have a guy. who helps us with the wealth management and it would take a lot for us to move just because of the inconvenience of it. And in that moment, Susan looked at me and says, I have lost clients to husbands before. because up until that moment in the conversation, she was, right? Like a lot of people out there, I can serve anybody. But it wasn't about who can you serve, was, but who sees the most value in what you have to offer and who do you need to show up for in a way that makes them really excited? And that's where you said to me, I show up really well with Divorcees and the LGBTQIA plus community. And that was the moment I said why is that not at the top of your website? Susan Cevette (08:40) Right? And what happened after that is I just went all in and I was like, I serve women. I serve head of household, divorcee, widowed, LGBTQ women. That's who I serve. And I transform their wealth. Like I do, like that is what I do. So now WatersEdge Wealth Management is transforming women's wealth is our tagline. That says it all, because it is what we And then I was just free. Oh my God. It was so like, like I just free to do my work, you know? And that doesn't mean that we don't work with men too. It's just, We do work with couples. the, it's a particular kind of couple and the way they relate to their money. And women are pretty involved in it. Beth Elliott (09:35) I've seen you a couple times since then and it has been transformational as an entrepreneur seeing you light up as you talk about what you do now. Susan Cevette (09:49) Yeah, I'm excited. And just FYI, I've landed three new clients. Yes. just because of the way I'm showing up. I'm not doing anything different, really, genuinely. It's just that I'm comfortable in my own skin. I'm comfortable just being who I am. I don't feel like I need to be something other than I am. That is... that is the benefit of the untangling because when you get tangled up like that you aren't true to yourself. Beth Elliott (10:23) And it's true, there's so many businesses out there who can technically serve everybody. Yeah. But what gives you joy? Where is there a need? Where are those spaces where they're going to look at you and say, yes, you understand me unlike anybody else in the market, and I'm going to trust you with my time and business. Susan Cevette (10:49) Yes, it's exactly right. And it doesn't take a lot when you're aligned to communicate that. Beth Elliott (10:57) Right. And people see it too. They feel it. They feel your passion. They feel your excitement. It's not just a, I'm here for everybody. It's no, you're here for me. Susan Cevette (11:07) Mm-hmm. Mm-hmm. Beth Elliott (11:08) I told Susan as soon as we got done with her session, I know three people over the last 10 years I would have referred to you had I known that you existed. Susan Cevette (11:18) Exactly, right? now you know, and now you looked at the end of the session, you looked at me said, now your referable. Beth Elliott (11:19) exactly. You are referable. You're memorable. And that's the point is when you go out there, you are memorable so people know who is going to be best served to be connected to you. Susan Cevette (11:44) Right. Beth Elliott (11:46) Susan, thanks for sharing your story today. Is there anything else that you'd like to share with the audience about your experience? Susan Cevette (11:58) It was like the single, one of the single most important conversations I've had regarding my business. I've worked with lots of coaches. I've been an entrepreneur for a long time. I have my MBA, like, you know, whatevs, right? But at the end of the day, and I don't think it's hyperbole or overstating, how transformative and life-changing and life-giving it was to the business that I think it maybe was a 20-minute conversation was, you know? And what attracted me to you was just how seamlessly you talked about what you did. And I went, I want what she has. I want to be like her. Beth Elliott (12:54) Thank you, Susan. Susan Cevette (12:55) Yeah, thank you. Beth Elliott (12:57) To everyone listening, growing your business is hard and going it alone, I mean, we all get stuck and tangled in our heads. So whether you're starting out and needing to nail down your positioning or you're growing and you need to figure out your innovation strategy, it's important to remember that companies that succeed have figured out how to identify a need that people will pay for and position in a way that people will take notice to and build it in a way that makes sense for your organization. Susan, thanks so much for joining me today. Listeners, thanks for joining us on our first episode of Untangled, and I wish you. A Tangled Free Day!