Investment Property, Homeschooling, and Bodybuilding

May 8, 2015

Today we’re getting personal. We’ve had members of our Facebook group ask us some questions about things we’ve mentioned in previous episodes, that they’d like to hear more about—from owning rental properties to homeschooling and daycare to our relationships/partners.

Learn More about the Topics Discussed in this Episode
This Episode Brought to You By:
"As you find stability in your business, you have to recognize when and where you need to step away."
- Emily Thompson

Resources

More from Kathleen

Braid Creative

More from Emily

Almanac Supply Co.

Transcript

Kathleen Shannon 0:00
Hello and welcome to being boss minisode number 12.

Kathleen Shannon 0:08
This minisode is brought to you by our sponsor fresh books cloud accounting. freshbooks is an easy to use invoicing software designed to help creative entrepreneurs get organized, save time invoicing, and get paid faster. So freshbooks you guys, it's amazing. One of the things I love most about freshbooks is their customer service. You can chat with them online, you can give them a phone call, and you're talking to a real person, no automated phone attendance. It's free and fast and friendly to get any support you need by phone or email. One of the other things I love about fresh books is that there are mobile apps for iPhone, iPad and Android. You can get free Getting Started webinars. So if you feel really overwhelmed tackling software like this, you can just watch their webinars and they'll show you how to how to work it but honestly, it's so intuitive. I'm not the most technically sound person whenever it comes to implementing new software. Emily is laughing but, but even I can use fresh books if I can do it, I promise you can do it. And if you can't watch those webinars, Alright, you guys try fresh books for free today. Go to freshbooks.com/beingboss and enter being boss in the How did you hear about us section?

Kathleen Shannon 1:30
Okay, so in today's mini mini episode, we are going to get personal. I asked people on our Facebook group, if there's anything that we've mentioned in a previous episode about our personal lives that you're curious about and would like to hear more about. And so we're just going to go through a few of these comments on our Facebook page, and we're going to answer them. So the first one comes from Jenny and she said that this is something that I've talked about on my blog that she would like to hear more about and that is my landlord slash rental home business. Okay, so I invest in real estate. I own I think,

Emily Thompson 2:13
Do you not know how many houses you own, Kathleen? Everyones hating you right now.

Kathleen Shannon 2:22
I think it's seven, seven houses. It's either seven or eight.

Emily Thompson 2:26
Good, good.

Kathleen Shannon 2:28
Because I'm just a total baller. Okay, not really. So here's the deal. I live in Oklahoma City. I don't know how many people listening in the podcast, actually know that. So I live in Oklahoma City. And the cost of living is super duper cheap. So like a really nice house here costs around, I mean, really, really nice. Like, you can get a mansion for between $300,000 and $500,000 and like a house that, you know, just a good house is anywhere between $80,000 and $150,000. So it's just super affordable to live here. And so I save up my cash. And every time I have enough for a 20% down payment on a house that's between 65 and $80,000 I buy a little rental house, they're usually just good to go ready to rent out. So I buy it and and I rent it out and it's pretty easy. And it started whenever my parents bought me and my brother a rental house whenever we were in college. And so after I moved out of that house, I still managed it for my parents so I got a lot of experience that way. And I just kept going so it's not for everyone but it's been good for us I don't make a whole lot of money on it because a lot of the money I do make on the rental income goes usually straight back into maintaining the houses but I'm hoping in 30 years whenever it's all paid off. I can do something like sell one of the houses for Fox's college if he decides to go to school. So that's kind of the the quick rundown on that thing. Yeah. Okay. Next question is, let's see, I'd love to hear how Emily juggles homeschooling with running a business. It's something I would love to do for my children once my company is a little bit farther along. And that's from Nikki and Danielle seconds that she wants to hear more about that too, because she is homeschooling a little one right now. And eventually we'll be homeschooling. Five of her children. Gulp. She says gulp.

Emily Thompson 4:35
Yeah.

Kathleen Shannon 4:35
Okay, so Emily, how do you how do you juggle homeschooling with running a business?

Emily Thompson 4:40
I have this really cool thing in my life called a David. He makes so many things possible. So we're very lucky in that the way we've built our life. It is just actually easier at this moment to do that. Then it is to do to take her to school every day. If we didn't if we had another child or if, if we, if David worked, or David does work, he works for me. But if he had like a traditional job, then we would not be able to homeschool. So it's just how we've sort of built our life over the past couple of years. So this is a point where, where we have enough freedom in our day to day that we can, we can homeschool Lily. David does. The he does most of the homeschooling with Lily. I assist as much as I can. We do a lot of our I do a lot of reading with her. And while she's in the studio, because she comes to the studio a lot she does handwriting exercises and worksheets and like reading exercises, so it just sort of like fits into our day really well. But really, David, David is sort of the secret to, to me, a really us being able to homeschool if David had a job, or traditional job, it wouldn't happen. Because I couldn't do both. I could not run my business and homeschool my child alone. Without him.

Kathleen Shannon 6:05
Yeah, I mean, I'm just gonna jump in and say my baby goes to the daycare. A lot of the a lot of the bosses in our Facebook group are doing the work from home, or they have little kids at home while they're running their business. And I'm sure that is great for some people, but I wouldn't be able to do it, it's hard. Alright, so my friend Dustin says I want an entire episode dedicated to your America's Next Top Model story.

Emily Thompson 6:29
I'll never forget the time you told me this story. I can't wait for everyone else to hear it too.

Kathleen Shannon 6:36
Oh my gosh, we need to have Tara on to tell the story. But I'm about let's see, I would say right at 10 years ago, I audition for America's Next Top Model cycle number six here in Oklahoma City, at a car dealership.

Emily Thompson 6:53
Classy.

Kathleen Shannon 6:54
It was super classy. And needless to say I did not end up on the show. But it was really fun auditioning for it. So I'm not going to go into the whole story. But I did it. I audition for America's Next Top Model I wanted to show Tyra my fiercest smize which is where you smile.

Kathleen Shannon 7:14
Yeah. Show me, show me your smize. Good job.

Kathleen Shannon 7:20
We don't have YouTube for our minisodes but I'm giving Emily my best smize. And anyway, yeah, it was it was fun and hilarious. And I'm not quite skinny enough or symmetrical enough to be a model, but it was a good time. All right, let's see what else um, Britta says I'd love to hear more about the men in your lives and how they influence your businesses. Um, Jessica also says being married, working together and making it work when you both have completely different careers. Jessica says I often feel like I'm two timing my husband with my freelance work.

Emily Thompson 7:59
You are.

Kathleen Shannon 8:04
Um, so my husband, his name is Jeremy big shout out to him. And whenever I first thought about quitting my day job and freelancing, I definitely leaned on him a lot. Not only financially, but emotionally as well. And he was my biggest supporter, and he told me, he said, I promised one day you were going to be making more money than I am. And he's an electrical engineer. And so that seemed like a lot of money. But yeah, these days, I'm the breadwinner. So he was right. And so that that support alone, like it was, it was a lot. It's huge. And he's definitely my guy. I mean, he does all the dishes and all the laundry, he is truly 50-50 parent, actually, since weaning Fox, I can even probably say, he does more parenting in some ways than I do. But really, we split everything pretty evenly. And he's amazing. I could not do. I couldn't do it without him. So I'm glad he's around.

Emily Thompson 9:09
Ditto to that I'm the same way David. David has just been super supportive of me and like wanting to do this crazy thing that I wanted to do. And he's definitely been been behind everything that I've done. And then two years ago, I took him on as like business managers, and he could handle all my bookkeeping, and all of my, like invoicing and just like licensing and paying the taxes and like really all the business stuff of the business. And he was able to do that, like he wanted to do like financial advising whenever we were in college and he started doing that for a while and now he gets to do it, but now it's for himself, as opposed to as opposed to other wealthy people, which is kind of cool for him. So David and I have been together for Almost 12 years now, which is a little crazy. And so really, we just know each other so well that working together isn't an issue. And the way the way that we balance it out is we have, we've like really separate groups of friends. So it's really cool to be able to like, leave. Because we work together, we don't have the depart time during the day, we do take some a part time in the evenings and the weekends, and not every evening, obviously. But we do sort of have separate groups of friends so that we can go and sort of have our own little lives and then come back and work together and raise Lily together where he does the dishes in the laundry as well. I love him for it. And he does do the homeschooling and I'm here, you know, doing all the client meetings for the client work and managing the team and he does invoicing. So it is it's it's a very even I think, David, I hope you agree 50-50 split of the work. And it just, we figured it out along the way. I mean, it hasn't always been easy. But now it really kind of is

Kathleen Shannon 11:03
I think that we are super lucky to have such supportive partners. But I don't want this to discourage anyone that is not in a partnership, right? And find support wherever you can. I just need to throw that out there. I'm so grateful for what we've got. And I realize that not everyone has that. But you can still be boss without a partner. Okay, so this is actually a good segue into another question from Jessica. She says Kathleen had mentioned a Gary Vee comment about how he felt that entrepreneurs should be working all the time, which is bad news for me, because I find it so easy to be a bit of a workaholic, because I love what I do so much. So the things I want to do in my off time are pretty similar to the things I do while I'm working. I'm curious how you both switch off when your work hours are done? How do you separate your business from your personal brand, when you work hard to make your brand a part of who you are and make yourself a part of your brand? Yeah, I don't know, like I

Emily Thompson 12:04
I wrote a blog post about this last night and posted it today of all days, it's like six things I gave up to uplevel my business or something like that. And we talk and I talk about this, this idea of being a workaholic, like I think there's a phase in the first couple of years of everyone's business that you are a workaholic, like you have to hustle your ass off to build something that's going to support you. And so you do you do sort of have to deal with being a workaholic for a while. But you also have to learn to grow out of that. And so as you start finding stability in your business, like recognize when and where it is that you need to be stepping away. And you do that by setting boundaries. Basically, one that I have, I do not email from my phone, I don't care what is happening. I don't care who it is or what it's about, I will not email anyone from my phone. And that has been a really great way like I'll check it. I check it all the time. But that has been a really great boundary for me so that whenever I'm out with friends, or if I'm hanging out with David and Lily, if I get an emergency email, I'm not turning it off to be or turning off family time to be workaholic, like I will continue what I'm doing. And then the next time that I'm at a computer, I will answer that email. So I think just setting small boundaries like that in your life, so that so that you can sort of create a divide between who you are and what you do helps. But then also just sort of accepting that there is going to be a lot of overlap. And that being an entrepreneur and being a workaholic, are similar. And a lot of ways you can be an entrepreneur without being a workaholic. But sometimes they look very similar.

Kathleen Shannon 13:45
Yeah, I'm not I'm not really sure how to turn it off. And I'm in such a blend. I've found the need for more boundaries, especially after having a baby. And but yeah, I'm in the thick of it. So I don't I don't really know the answer to your question, Jessica, because all I will say this, like, I'm right in the middle where I had a good friend, I did her brand. And she's rebranding, and I found out that she hired someone else to do her rebrand and it really hurt my feelings like on a friendship level. And so that's like an example of where my personal and professional life have overlapped so much that I don't know how to pull back. Right?

Emily Thompson 14:23
Well, so I don't think that there is a way I think that like somethings should bother you. or, or, or if there is an email that comes to my phone, that's bad enough, I will go find a laptop. Like if it's something that really needs my immediate attention and it's the middle of the day and I'm like hanging out and reading books instead of like being at my computer. But but it is I think it's just about like setting boundaries and just sort of dealing with things as they come like, make educated decisions. Weigh pros and cons. understand the importance of self care. Like you can't be a workaholic and a successful human and entrepreneur, I mean, you can but like, I think that you can be just as successful. And being an entrepreneur if you set the right boundaries and aren't such a workaholic, if you're taking care of yourself, and your own interests and the people around you, because you can have a badass business, but if you don't, if you aren't surrounded by friends who love you, because you've ditched them all for your business, then all you have is a business.

Kathleen Shannon 15:24
You know what, I think that we should make a full episode out of this.

Emily Thompson 15:27
Probably.

Kathleen Shannon 15:27
So let's put a pin in it and we're gonna come back to this one. All right, um, Caroline says, me and my friend are in the North Carolina mountains. And we've always wondered which part Emily moved from.

Emily Thompson 15:40
Oh, fun. Um, David went to Upstate and Boone and we lived in West Jefferson, which was, I don't know about 20 miles north east of Boone. So it was like right off the Blue Ridge Parkway, small town like 2000 people, very adorable. We had a great view from our back porch. But that's that's where we were there for about two and a half years and we moved back

Kathleen Shannon 16:03
and a few people want to know about my fitness routine and diet. And Pam says I keep finding myself becoming somewhat interested in lifting more Did I just say that, Emma bodybuilding. Someone else wants to know about my stand up paddleboarding habit that I've just started. And someone else said, Oh, I want to know more about you becoming a bodybuilder Kathleen my bestie is a frequent fitness competitor, and is an awesome bodybuilding chick.

Emily Thompson 16:38
Go for it.

Kathleen Shannon 16:39
So I mean, this could probably be a long

Emily Thompson 16:40
I was about to say don't get Kathleen rambling about this now guys.

Kathleen Shannon 16:47
But uh, basically, I lift weights six days a week, I do cardio. So I do high intensity interval training two to three times a week. I eat a pretty clean diet or what most people call clean. I was paleo for a long time. But now I do something called If It Fits Your Macros where I track my macronutrients. So it's a breakdown if you guys can see unless just like I you break down your macronutrients, like it's really super, I would not recommend it for everyone is very, what's the word

Emily Thompson 17:25
obsessive but like good, like I've looked into it, it looks awesome. I need more time in my day or something.

Kathleen Shannon 17:32
That's I mean, I do spend, I block out a two hour chunk a day for working out so I definitely dedicate a lot of time to it. And so I do not plan on competing I do not plan on becoming an actual like competitive bodybuilder, only because I think that it can be pretty dangerous for your body and your mind. And as we're getting into summer I'm much more into stand up paddleboarding. I just bought a couple of stand up paddle boards for my wedding anniversary. And I love rock climbing. And I just kind of like want to feel like a badass, really more than anything. So yeah, maybe maybe we can talk about it more like on a I would love to do an episode on like the mind body connection and how fitness and how your diet can really affect your mindset when it comes to being a creative entrepreneur. Alright, let's take one more. Let's see. Oh, Heidi wants to know about cocktails. She just has cocktails. So here's the part where we talk about Emily being an alcoholic. If I'm like, obsessive, fitness freak.

Emily Thompson 18:49
I'm an alcoholic will say don't drink as much as I used to. I gotta get to do I have too much work to do to drink. But okay, Kathleen, what's your favorite cocktail?

Kathleen Shannon 19:01
Okay, my favorite cocktail is. It's been a while like I've been doing. I go through phases where I'm really into beer or then I'm really into wine. Um, okay, so I don't like anything I I've developed. You know what I'm gonna say like a good Margarita with a good one with like, fresh lime juice. Good tequila. And what else is in it? And Margarita sugar. Like, no, like not, I don't actually just like with like, fresh lime juice.

Emily Thompson 19:35
I like tequila and lime. That's I mean,

Kathleen Shannon 19:38
I really like that and then I also love an old fashioned but like a good old fashioned like, basically I love cocktails that aren't made from cheesy mixes or like too sugary mixes if that makes sense.

Emily Thompson 19:50
Yes. Oh no, I can't do mixes make me sweet these days or makes me sweet. Makes us make me sick. I I'm a gin and tonic. I just love a super simple gin and tonic. My favorite gin is Uncle vous botanical. Just so everyone knows. Other than that tequila with like little like a little wedge of lime in it is one of my favorite things to just sip on. I don't know I like to I like to try new cocktails. I'm definitely one of those people that will go to a restaurant and like order the most ridiculous cocktail just to see what it's like. But But I'm right there with you like I like fresh ingredients and and, like I love a place that does like their own bitters. Or, I love jack Rudy tonic. So it's small batch tonic, and it's just, it's like the syrup almost. And so you have to mix it with club soda and make it carbonated. I really like just like small batch, really hipster shit like that. Basically.

Kathleen Shannon 20:52
that's what I like going to those fancy bars where the bartenders are wearing suspenders. And like, you know, their sleeves rolled up and they've got a mustache and they're like, real serious. Like, I like any cocktails like that. I'm

Emily Thompson 21:07
gonna have to send you a video of a guy who makes cocktails locally. I think you'll enjoy it a lot. But yeah, I'm the same way I like I like a really good just just weird like, well mixed. cocktail, fresh ingredients. I'm not a beer person. I do drink some wine. I enjoy wine. But gin and tonic is my go to mostly because it's really hard for people to screw that up.

Kathleen Shannon 21:29
What is your favorite wine?

Emily Thompson 21:32
Oh, I have a good so it's a weird one. If there's anyone in St. Louis out there. If you're not familiar with Augusta winery in Augusta, right outside of St. Louis. It is my favorite winery. They have this wine called Norton. And it's actually an American and Native American grape so it's not a European grape. And so the varietal is Norton. And it just has the most amazing, amazing taste like we buy it by the case and the sort of our house wine, but you can only get it from the winery. And it's my absolute favorite. So Augusta winery, Norton is my favorite.

Kathleen Shannon 22:07
Okay, so this brings up like, I think we should share this with our listeners. And you have your degree in geography. So we've mentioned that in a past episode, but didn't you do your thesis in wine?

Emily Thompson 22:20
It was Yeah, I was a really hardcore wine nerd for a while. And I did. I did actually my thesis was on muscadine, which is not anything anyone in the wine world would ever talk about. But it was more like a historical look at mesquite ions and the effect that it has on I don't know how liquor laws developed in the south. And I do I love Why like I actually know a good bit about wine. I just prefer my boozy real strong.

Kathleen Shannon 22:54
I like Malbec.

Emily Thompson 22:57
Oh, I do love a good Malbec. Yeah, that's a good one. I love that.

Kathleen Shannon 23:01
I got into white wine whenever Jeremy and I went to Vienna a few years ago are all of Eastern Europe, not all of Eastern Europe, but we went to a few different places. And Vienna was one of them and we went on the wine and bike tour. So basically fun rode through one of those It was so much fun and so it was all white wine and it gave me a new appreciation for white wine.

Emily Thompson 23:26
Good. Malbec are really good. tempranillos are probably my like second and just any tempranillo pretty much will make me happy.

Kathleen Shannon 23:34
Um All right. Well, I keep hitting refresh on our Facebook page and more people are asking about homeschooling. So you might you might need to do a blog post or somebody should

Emily Thompson 23:43
I we're wrapping up our first year of homes. I mean, like I guess she should be having final exams right now. Or whatever a first grader would have. And I thought about I probably will I will do I will do some blog posting on homeschooling because it has been It has been a wild ride guys.

Kathleen Shannon 24:02
Alright, well that was fun. That was fun talking about ourselves.

Emily Thompson 24:06
Hope you guys enjoy listening to it.

Kathleen Shannon 24:10
All right, well, if you like this minisode Be sure to check out our secret episode on cultivating confidence available only at lovebeingboss.com. And don't forget to hashtag being boss podcast on Instagram to show us how you're being boss in work and life. Thank you for giving us a little bit of your time today. Feel free to continue the discussion on our Facebook group. And if you haven't already, please be sure to check out all of our full episodes on lovebeingboss.com on iTunes, SoundCloud and Stitcher. You will have been leaving us amazing reviews on iTunes and we thank you so much for that it really does make a difference. Do the work be boss and we'll see you next week.