Episode 26 - The Thread That Connects: Design, Mentorship, and Impact with Elizabeth Cohen

Transcript

00:11
Wendy: Hello powerhouse smart friends and colleagues. We're here again for another fabulous episode of the Powerhouse Cool Collabs podcast created so that I could share my very near and dear network with all of you and their incredible stories.

00:25
Wendy: So, just a quick reminder, this is a commutable podcast, so it'll be about 20 minutes. We can take much longer with fabulous guests like today, but we're going to make it short and sweet, and then there'll be lots of ways you can connect with her after.

00:38
Wendy: And then the three pillars under the podcast are bringing you cool leaders in our industry, and people that believe in collaboration like my dear friend today, living and giving with an attitude of gratitude, and finally all of us with this generosity of giving back to help humanity.

00:54
Wendy: So I like to give my guests—and today I have a very dear and special guest who I call my soul sister. We have the same last name but we are not related, although we are connected. I let her do her introduction, her story. So, please, Elizabeth, welcome to our podcast.

01:25
Elizabeth: Thank you, Wendy. Thank you. It's such a pleasure to be with you. I've been following everything you've been doing, and it's so motivating for me and everyone in our sphere. Again, my name is Elizabeth Cohen. I've been in the interior design industry for the last 20 plus years, but I've worked longer than that. I started in the apparel industry, grew up in a family business—a very classic story. My family had a couple of stores, and I grew up every day after school going to the store, seeing my family work—my grandmother, my dad, my uncle—and really just grew up in this wonderful environment. We had a great group of people that worked with us. I think I just inherited a quiet drive to do well.

02:28
Elizabeth: I've always either run a business, owned my own firm for a period of time, and now as I'm approaching my third act, I still plan to work. I don't really see retirement in my future. I like to work. I'm just plotting out how that will be. I don’t think it'll even be slowing down—I think it's just going to be working differently. I plan to start doing some consulting for small businesses in the weeks and months ahead.

03:01
Wendy: Wow. First of all, you're so humble, and you are in my mind someone that I follow. I listen to your wisdom, and I’m always grateful that I have this connection with you where I get to just reach out and ask for feedback. You are such a brilliant mind. That family background of going into the store—you said it was by osmosis, but I think you were born with a gift, my dear.

03:47
Wendy: Before we go further, I have so many questions, but I want you to share how you first started. Fashion has a lot to do with design. How did you get into the fashion world, and then realize you could help other companies grow, which is what you do with your entrepreneurism and background?

04:06
Elizabeth: Yes, happy to do it. My family did have clothing stores, so from the earliest age, I loved fashion and apparel and still do. After college, I left Minnesota and moved to San Francisco. I was interested in working for someone in the high-end fashion world. I joined Saks Fifth Avenue after college and followed the route through management and buying. I left San Francisco and worked in Paris for some time, which was fantastic. One French boyfriend led to a really beautiful career in Paris. I learned a whole other side of the business—wholesale and all of it.

05:18
Elizabeth: I decided to move back to the States. I was really close to my dad, who was inspirational, and I inherited many good traits from him. I worked in Chicago for a period of time, and then moved back to Minneapolis to be near my family. I started working in the interior design field for a retailer who had a design studio. I loved it from the very first moment—the accessories, buying furniture, working with clients.

06:16
Elizabeth: I subsequently had a bigger job where I ran design studios for a large corporation and then found my way to my own firm with a couple of partners, which was probably the most wonderful experience I’ve ever had. We went through the recession of 2007–2008, and our business did not survive, which was heartbreaking. But it helped me understand that I can still have that feeling working for others and helping them grow their business.

07:14
Wendy: That’s what makes you so special and unique, Elizabeth. It’s hard to find people that would treat your business as if it were their own, and that’s what you’ve done—at least in your most recent role with Studio M.

07:57
Wendy: You’re understated in your accomplishments, but you’re a huge source of knowledge, help, and spirit, always wanting to help others. Share with us how you joined Studio M and where you took it—it could be a whole podcast itself.

08:28
Elizabeth: I was very fortunate after my firm closed. Someone connected me to the owner of Studio M, which started with a few designers but no processes. Structure is important, and I was able to implement policies, assess the team, make changes, and work on marketing. It took time, but with steady growth and success, I had as much free reign as imaginable. I wasn’t a designer, but I could handle the backend to allow the owners to focus on clients. That was the formula for success. Over the years, Studio M grew in sales, reputation, and staff.

11:31
Wendy: A couple of golden nuggets: your open-mindedness to go from fashion to interior design, and the importance of letting someone like Elizabeth help you grow your business.

12:12
Wendy: How long have you been at Studio M?

12:12
Elizabeth: I started 14 years ago with probably three other designers aside from the owners. Today, we have more than 25 employees, two locations, and are looking at potential future expansions. The culture was established through hard work and getting the right people in the right positions.

14:17
Wendy: You brought business understanding—P&L, profitability, systems, procedures—which is amazing.

15:02
Elizabeth: I’ve been thinking about consulting for a long time. The most important thing is independence and flexibility while still working. I love change and challenges. I want to help new entrepreneurs or businesses that feel stuck. After all this time, I have wisdom to offer.

16:52
Wendy: How can people learn more about you?

17:04
Elizabeth: Please call me! I recently “hung up my shingle.” I’m still working with Studio M but will start taking on new clients. I have a website: ECConsultingLtd.com.

18:40
Wendy: Elizabeth will also be a moderator and speaker at the Chicago Luxury Conference on November 5th. She’s open-minded, generous, and willing to share her time and wisdom.

19:19
Wendy: Elizabeth is branching out with consulting, which is a way for her to continue giving back. Share some of the projects we’re working on together.

19:51
Elizabeth: With age comes wisdom. I can give back through experience and mentoring. Our Africa trip was transformative. Sharing wisdom and giving back through experiences like this is important.

22:12
Wendy: We had the Powerhouse Smart Africa Impact Trip last August. It was emotional and inspiring.

23:25
Wendy: We’re going to announce with Elizabeth at the Luxury Conference that we’re supporting Wild Hope, a charity in Victoria Falls. We also plan more Africa impact trips in the future.

24:10
Elizabeth: The trip was extraordinary. We wanted to share it with friends, show images, and introduce them to the nonprofit Revolved, which is doing amazing work worldwide.

26:42
Wendy: You are perfect to talk about mentorship. That’s what you’ve done with Studio M and will do as a consultant—sharing your knowledge at every level.

27:34
Elizabeth: Everyone needs a friend, a sounding board, or a mentor. That common thread can be woven through everything, in business or nonprofit work.

28:04
Wendy: I’m so blessed we met at the Chicago Luxury Conference. Together we’ve touched many lives. If you tie your business, giving back, and family life to something bigger, you’ve done something special.

29:13
Wendy: One final question: what is your definition of a well-lived life?

29:30
Elizabeth: Recognize moments of pure joy—they don’t come often, but they’re big. Life is well-lived if you have those moments with family, friends, or experiences and are grateful for them.

30:30
Wendy: Together, let’s continue to build amazing connections, inspire others, and spread joy and love. Thank you, my dear friend.

Elizabeth: Thank you, Wendy.

Wendy: Thank you, everybody, for connecting with Elizabeth. You’ll be so glad you did.