Loretta Wetzel
Why NOT Mix Family and Business?
Loretta Wetzel is a serial entrepreneur, motivational speaker, and advocate for family-centered entrepreneurship. Her journey began when she received an unexpected call that changed her life forever. Loretta found herself at a crossroads between the security of a corporate career and the unknown path of entrepreneurship. Facing a family emergency, she decided to take control of her life by pursuing her dreams and building a business that allowed her to prioritize her family. With years of experience balancing business success with personal values, Loretta is a living example of what it means to thrive in both spheres.
Family and business are two pillars of life that many think should stay separate. But what if mixing them could unlock untapped potential? Drawing inspiration from a recent episode of Leveling Up with Brigham Blackham, featuring Loretta Wetzel, let’s explore three transformative concepts: the 6 P’s, LAVA, and five compelling reasons to mix family and business.
The 6 P’s: A Roadmap for Success
Loretta emphasized the importance of the 6 P’s in balancing family and business. These are the cornerstones for building a thriving life:
Purpose  – Start with why. Loretta shares how understanding her purpose fueled her entrepreneurial journey.
Plan – A clear strategy bridges dreams and reality.
Posse – The right support system, both in family and business, is essential.
Prosperity – Systems and routines provide structure for success.
Poppin' – Striking a balance between emotional and financial investments.
Play – Passion keeps the journey exciting and meaningful.
LAVA: A Framework for Building Connection (Timestamp 14:14
The LAVA framework, a powerful communication tool that can strengthen both personal and business relationships. Here's a breakdown:
Listen – The first step is to truly listen. Engage deeply with what the other person is saying, without interrupting or jumping ahead to your own thoughts.
Acknowledge – Show that you understand by acknowledging their perspective. This validates the other person's feelings and shows respect.
Validate – Confirm that their emotions or experiences are real and valid, reinforcing that you are empathetic to their situation.
Ask – Finally, ask powerful questions that open the conversation further, allowing deeper insight and solutions to emerge.
Five Reasons to Mix Family and Business
Loretta passionately advocates for integrating family into your business ventures. Here are her top five reasons:
Shared Values – Families working together align on core principles.
Stronger Bonds – Collaboration strengthens relationships.
Legacy Building – Create a lasting impact for future generations.
Support System – Families can provide a safety net during challenges.
Empowerment – Involving family fosters a sense of ownership and responsibility.
Bringing It All Together
Loretta’s journey proves that family and business can coexist harmoniously, creating a synergy that benefits both spheres. By leveraging the 6 P’s, applying the LAVA framework, and embracing the blending of family and business, you can unlock new levels of success.
Catch the full conversation with Loretta Wetzel on the Leveling Up with Brigham Blackham podcast. Use the timestamps above to dive into the segments that resonate most with you!
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