Episode 26: Can Bitcoin Become Obsolete? Featuring Carrie Reininger from Kitchen Me Now

Table of Contents

• Introduction
• Discussion on Bitcoin and Scarcity
• Examples of Disruptive Technologies
• Investment Strategies for Bitcoin
• Introduction of Carrie Reininger from Kitchen Me Now
• Overview of Kitchen Me Now
• DIY-As-A-Service Concept
• Typical Design Process for Remodels
• Challenges in Remodeling Projects
• Final Thoughts and Contact Information

Introduction

Madison: Hello, everyone, and welcome to Not Just Numbers, Honest Conversations with a Financial Advisor and Lawyer. I am Madison Demora, and I am here with Mike Garry. Mike is a financial advisor and a CFP and the founder and the CEO of Yardley Wealth Management. He is also an estate planning lawyer and his law firm is Yardley Estate Planning. Hey, Mike.

Mike: Hey, Maddie. How are you?

Madison: Great. So today we are going to discuss an article from the Wall Street Journal. And it is titled Digital Gold or Digital Pearls, and it is written by Jason Zweig. Alright. And the article will be linked in the description. So here is the summary. The article compares the historical value of pearls to the perceived value of bitcoin, emphasizing scarcity as a key factor. It warns against assuming Bitcoin’s value will continue to rise indefinitely, citing examples of past technologies that were once dominant but eventually replaced. Potential vulnerabilities in Bitcoin’s code and the emergence of new digital currencies are highlighted as risks. The advice is to diversify investments and hedge against Bitcoin’s uncertain future despite its current prominence.

Discussion on Bitcoin and Scarcity

Mike: So should we, like, relay this story first? Right, what happened in here.

Madison: Sure.

Mike: Like, 100 years ago, lady went in and she wanted to buy this Cartier pearl necklace that was selling for, like, a million or a million and a half dollars, and instead, they traded a townhouse in New York for it. Right. So the guy got the deed to that house in New York. And what Jason says is, at that same time, there was somebody somewhere working on a way to culture pearls. That guy figured out how to make this, how to do it at the exact same time that transaction was happening. And so sometime a little bit later, beautiful pearl necklaces were no longer so rare, and they became a lot more ubiquitous. And what happened was that necklace later sold, like, 40 years later for half that value. And meanwhile, the value of that townhouse is probably, like, there was a sale around it, it was, like, maybe $57 million. And so that guy had a great idea of exchanging that real estate for the pearls. But it’s wild to think that something that would have so much value. And think about, like, a million dollars then, it’s inconceivable to spend a million dollars on a piece of jewelry now. I can’t imagine how wealthy that couple was at that point, but turned out to be a really bad deal for them.

Madison: Yeah.

Mike: I thought it was such an interesting story, I thought we should share it. And Jason Zweig is one of my favorites. He has a weekly article in the journal, and he’s always good.

Examples of Disruptive Technologies

Madison: Okay. Alright, so let’s get started with the first question. What parallels can be drawn between the historical decline in the value of natural pearls due to technological advancements and the potential risks associated with investing in Bitcoin?

Mike: Sure. So, a big part of the allure of Bitcoin is the scarcity. There’s only so many coins, and there’s only ever going to be so many coins. So, the idea is if there’s a limited amount of them, then their scarcity will drive the price higher. Right. And so with the pearls, you know, 100 years ago, you could only get those natural pearls. It was hard to find them, and hard to find certain size, shape, quality, and then put them on a necklace. It was a really scarce thing. It drove up the value. Well, what if some technology comes back and makes Bitcoin irrelevant? Right? Like, there is that, you know, that phrase from 90 years ago, “creative destruction,” like capitalism is a series of creative, destructive events. New things come up seemingly out of nowhere and, like, destroy what had been going. Right. That’s the whole thing about when cars came up. Right? Before cars started, like the buggy whip salesman, you know, would be a rich guy in town cause everybody had horses and carriages. Every rich person had horses and carriages. And then ten years later, they’re not on the streets anymore. Right. It’s a curiosity now, and that can happen to anything, and we don’t know. And so I think Bitcoin, that could be a real thing. Like, there’s 1500 other coins. What if all of a sudden people are just like, “Hey, you know what? I really like Ethereum better,” and no one wants to buy a coin. There’s no tangible value backing that other than scarcity, in the way that it’s used.

Madison: Yeah, totally makes sense. So in what ways does the article suggest that Bitcoin’s status as a digital gold may be challenged by emerging technologies or digital currencies?

Mike: Sure. There are, like I said, many other digital coins. And maybe there’ll be something else that comes up that we’re not even thinking about, that’s not on our minds. The whole scarcity thing can kind of make sense. But on the other hand, it could be if other technologies come along, like, okay, well, there’s only a few of those Bitcoins, but who cares? It’s a collector’s item. It’d be like a baseball card or something where there’s a million other baseball cards. I don’t know. Whereas a baseball card, when people aren’t interested in baseball cards anymore. A lot of things have their time in their place, and then people don’t care about them anymore.

Investment Strategies for Bitcoin

Madison: Yes, absolutely. So can you discuss the examples of disruptive technologies provided in the article, BlackBerry, Commodore, and MySpace, and how they relate to the potential vulnerability of Bitcoin to begin supplanted by newer innovations?

Mike: Sure. So all three of those technologies were like the prime movers. They were the first ones. BlackBerry was the coolest thing. Commodore, MySpace, and they were all supplanted by rivals. And now nobody has MySpace anymore. BlackBerry isn’t really a thing. There are millions and millions and millions of iPhones sold. So, yeah, and the same thing could happen to Bitcoin. They could be the first mover, and they have a good idea. And what if next year somebody unleashes a better idea?

Madison: Yeah, absolutely. Yeah. So, what are the potential risks associated with Bitcoin’s code and the need for periodic updates? And how might these risks impact its sustainability and value over time?

Mike: Right. So that’s something I didn’t even know, right? That there are vulnerabilities or perceived vulnerabilities in Bitcoin’s code, and they have to be fixed. Well, anybody that’s had any kind of a computer issue or a coding issue knows not everything can be fixed perfectly. What if it continues to deteriorate or other issues become known? Right. And what if that impacts it in a way that makes your Bitcoin worth less or worthless? They don’t know. So it’s just another thing to worry about.

Madison: Yeah, absolutely. So how does the article recommend investors approach Bitcoin and other digital assets in terms of diversification and risk management strategies?

Mike: So I think it calls for what I would consider a prudent approach. Like, if you really want to be involved, have it as a very small percentage of your net worth, so that if it doesn’t work out, it doesn’t really affect your financial plan. But if it does work out, maybe it’s a nice surprise to the upside. Right.

Madison: Yeah, absolutely. So do you agree with the comparison between Bitcoin and pearls in terms of their potential disruption? Why or why not?

Mike: Well, I think in terms, yeah. So, yes, in terms of potential disruption. Right. So it could be a really good parable or a good story to say, like, hey, this thing is going, and Bitcoin’s rising again now as we speak. It’s pretty high, like the pearls were 100 years ago. And maybe somebody’s working on something right now that we don’t know about that could make Bitcoin obsolete. So, yeah, I think it’s a good example. I thought it was a great story.

Introduction of Carrie Reininger from Kitchen Me Now

Madison: We are joined here today with Carrie Reininger. Carrie is the owner of Kitchen Me Now here in Yardley. Carrie, would you like to explain to our listeners what you do for a living and a little background about yourself?

Carrie: Sure. So thanks for having me on, first.

Mike: You’re welcome.

Overview of Kitchen Me Now

Carrie: We started Kitchen Me Now about a year and a half ago, my husband and I, and he has been in the trades for 30 some odd years. I actually have been in corporate America as a management consultant in marketing. I’ve worked with pharma companies in the area and kind of been more in that realm for a really long time. And last year I decided to leave that and take a break from it. And I have been studying interior design, and now what we’re doing is turning Kitchen Me Now into design and build all in one. So, he and I have done four houses together. This is not new for me at all. And I’ve had a creative eye for a long time. And so, there’s many, many different companies in the area who have design and build all in one. And I think what we’re trying to do is set ourselves apart. In that, I think there’s a lot of people who hesitate rebuilding a kitchen or even a bathroom because they feel like the cost is going to be prohibitive. And what we’re trying to do is in our motto is, everyone deserves a beautiful kitchen. And we truly believe that. And I don’t think it has to be super expensive. I think there’s really fun ways to make detail that looks high end without breaking the bank. And so, our goal is really to serve the broader community and make something that is really beautiful, accessible for everybody.

Mike: That sounds like a great concept. It’s great. And, yeah, kitchens and baths are intimidating for people. Right. It can be a really, a lot of money, and, yeah, I think people are even afraid to guess. We do that a lot of times with people for planning and then say, oh, before I retire, we like to get our kitchen done, and they have no idea what the range will be. And so, yeah, it’s like, I like the concept.

Carrie: Yeah, it is hard. It’s a lot of decisions and not even just cost. There are so many things to choose from: fixtures, bathroom accessories, paint colors. It’s a lot. And I think a lot of people, there’s so many different places around in the community where you can go shop for these things. And I think it’s very easy to get overwhelmed by all of the choices and, you know, is gray in or is gray out? Do I do white or do I not and what are the trends? And, and at the end of the day, it’s not really about what’s going on in Pinterest and Instagram. It’s what do you want and what’s going to make you feel amazing every time you walk into your house.

Mike: Yeah, I have to say, when we got our kitchen done, it was about six, seven years ago. We used a guy who’s done a lot of stuff around the house for us, did the actual building, and then a neighbor who’s a designer helped my wife come up with a design, and I couldn’t believe all the different decisions. And I went with them the day that they ordered stuff, and I was like, I have to go back to work. It’s been an hour and a half, and my wife said they were there for, I don’t know, 3 hours or something, but there’s so many things. And she said there’s no way she could have done it without somebody that she knows and likes and likes being around to guide through the process. There’s just so much stuff.

Carrie: There is a lot. And it’s, I think that at the end of the day, what’s really funny about it is it’s very creative, but it’s very operational. And the things that you do from a design perspective, if you don’t have decisions on them, the contract team is waiting on materials, which is really bad, because then they’re either going to go off and do another job, and you’re going to get yours done whenever it’s convenient, or they’re sitting and waiting. A lot of times, you know, there are other things that you can be working on while you’re waiting, but if it’s not running smoothly, you’re going to end up with a lot of headaches, longer timelines, more expense running around. It’s very operational. As creative as it is, it’s super important to have all those things locked down before you get started.

DIY-As-A-Service Concept

Madison: Absolutely. So, it sounds like it’s important to stay organized, too. I mean, you have to deal with this and that and making sure this is here when it needs to be here. Yeah, definitely. So, what inspired you and your husband to open a business in this particular field?

Carrie: What inspired us. So, I actually think more what’s inspired us is a part of the business that we haven’t really touched on. And it’s sort of an aspiration. So I’ve, like I said, I came from a consulting background, and he’s come from a contractor’s, you know, general contracting background. And there comes a time in life when you decide that doing that type of work can be really hard on you, on your bones, on your muscles, etcetera. And so, one of the things that we’re really kind of testing the waters on right now is a concept called DIY-As-A-Service. And that is a combination of consulting his expertise, and a way to, again, further make a really professional finish accessible to people specifically who would like to do it on their own. So, needless to say, there’s a huge cost benefit if you DIY your own kitchen. As you guys know, around Yardley and Bucks County in general, there’s so many older homes, and these older homes are not square. The ceilings aren’t level. There’s all kinds of issues that can come up. Electricity issues, plumbing issues. I want to move this wall. I want to take this wall out. I don’t know if I can do that. You can be aspirational, but you also have to be practical, and understanding how to troubleshoot some of those problems, I think, are not necessarily in the remit of a common homeowner who may be handy enough to do their own kitchen. And what we’re talking about doing, and sort of the true part of where Kitchen Me Now came from is creating a package of consulting hours to where you get a plan, you get some of Will’s time and his crew, whoever it is, from an expertise perspective, that’s going to help you lay out a plan so that you’re not, you know, nine months later, still working on your kitchen, but also have buckets of hours that can either be used for just consulting and advisory, or, you know, picking up a hammer and helping to finish something that is a little bit more challenging than you’re able to cover with a YouTube video, if that makes sense.

Mike: Sure. That actually makes a lot of sense. Like, I think a lot of people go into projects and are relatively handy and say, oh, I could do this. And then, yes, the floor is not level, the house isn’t square, and how do you fix those things? And your husband has decades of experience figuring those things out, whereas somebody else is like, oh, yeah, I’m pretty good with a hammer and a saw. Oh, yeah, that might be a little bit beyond people. I think it’s a neat concept. I don’t know that I’ve ever heard of something like that.

Carrie: We haven’t either. And that’s part of the exciting thing now. Whether or not it has wings and takes off is yet to be determined. But I think I would say, to answer your question, that was really kind of why we went into doing this together.

Mike: Yeah, no, so we used to do that kind of here where we did financial planning for people without doing everything. And so, like, people who want to keep control of their investments, but aren’t really sure exactly what to do, or want a second opinion, like, “Can I really afford to retire?” We would do, like, a plan for them and charge them for the plan, and then they would go implement that. And we stopped that during the pandemic because there were some challenges with it. But, yeah, it’s interesting to see that in a different field. Really curious to see how it’ll work. I mean, good luck. And it might be a great way, as you said, your husband, like, that kind of job’s not the, it’s a lot more fun when you’re 23 than 43, 53 or 63, for sure. Yeah, that could go a long way for you guys. Be interesting to see.

Madison: Yeah, yeah, that sounds exciting. So that’s not launched yet. Correct?

Carrie: So, it’s in the planning phases. It’s not really launched. I think we basically, we need our first, our first people who want to go through it more or less. And I think there’s some degree of, so, coming from a marketing background, I understand the value of market research and kind of thinking these things through before you really put something out there. And so I think that there’s some ways that we’re thinking about conducting that market research. Right now we’re really just trying to get our name more out there, drive business, etcetera. So that’s going to allow us to be set up to think about what are the next phases with the business as well.

Typical Design Process for Remodels

Madison: How do you stay up to date on industry trends and best practices?

Carrie: That’s a great question. So I, for one, started studying interior design. I’m about one lesson away from being complete, which is awesome.

Mike: Great, congrats.

Madison: Congratulations.

Carrie: It’s really interesting to completely reinvent life at my age, but it’s been really fun. So I stay up to date from the studies, obviously, Instagram and Pinterest are huge as far as inspiration and what are people doing and what are the types of things that are trending. A lot of that shows up. Unfortunately, I feel like a lot of AI has started to creep into that. So you don’t know what’s real and what’s not. Sometimes you can tell, which is, it’s horrible. It doesn’t show up the whole way in the picture. It’s mushed by it, I’m like this doesn’t make any sense.

Madison: But at the same time, yeah, sometimes it looks so real and you’re like asking yourself, like, is this real or is this, is this fake?

Carrie: Yes, it does. So those two. And then there’s, you know, national kitchen and bath. I don’t even know what you would call them. They’re like memberships, you can have memberships to them. They print books, best practices, and the standards in the industry. As far as, you know, ADA compliance, which is a huge thing for aging in place now, which a lot of people are opting to do. So it’s really important to understand how do you build for people who are going to be there for a long time and think about areas that they’re going to need to be turning potentially wheelchairs or walkers, that kind of stuff. So there’s a lot of material that’s offered through those. Cabus is another. We have from a business support perspective, we have memberships into Bucks County Business Connections as well as other networking groups. And that one I call out specifically because not from a trend perspective necessarily with design, but how are people running their businesses to be successful and from a group to pressure test ideas with. We get a lot of support in there as well.

Mike: No, that’s great. That’s really important. I’ve definitely found that out over the years that you’re working in your business and you’re doing your day-to-day stuff and how do you know what you’re doing for the business makes sense? I know with a pretty fair degree of confidence that the advice I give to clients is good because it’s something I stay on top of. But then we’re running a business with four or five employees and trying to make sure that it works for all of our stakeholders isn’t easy. And so it is great to have other resources to bounce ideas off. I love going to conferences for that because you hear people up on the stage and you talk to people in the hallways and try to get a sense of what people are doing to try to stay up and do the best. We’re all trying to do our best, right?

Carrie: Right. And other people have great ideas on. So, Madison mentioned earlier being organized, it’s very easy when the business is small to just kind of stay on top of things. But, you know, what are the systems that others are using as far as automating marketing? Which, coming from my background that I’m familiar with, but not in the small, I’m building these things for, you know, huge companies not for a 700 square foot office with three people. So, like, how are other people thinking about those types of systems, staying on top of being organized and letting systems sort of drive the day-to-day so that you have time to focus on the business? This is a radical change for me, where I took for granted so many things as an employee, everything from payroll and insurance to just having things at my disposal to, wow, I got to go find everything myself, and I have to understand how to do all these bookkeeping for myself. It’s really different.

Mike: Yeah. You made me think of a conversation I had with a friend years ago who’s been in marketing, and he was switching jobs, and he’s like, “I’m not really sure, this marketing department, there’s only 50 people in it.” And I’m thinking, like, I’m trying to figure out how to market myself at the time. I don’t know if I had any employees yet. And it’s like, it’s just so different. Just so different.

Carrie: It is.

Mike: But, yeah, and all those other things, like, you will get better at them, and you’ll learn some stuff, but it is a lot in the beginning, and there’s a lot to learn. There’s so many things to do. You know, handling payroll, HR, QuickBooks, it’s a challenge, but you seem up to it, so I think that’s good.

Client Design Process

Madison: So, Carrie, can you walk us through your typical design process when working with a client on a kitchen or a bath remodel?

Carrie: Sure. So, we start with really just a first conversation, and I’ll use one that I’ve done in the last week as an example. You can either come into our office, which is really small, but seeing the space is so much easier. So, generally, our first consultation is at our client’s house, and we discuss what it is that they want to do, kind of what, you know, what do they have in mind? What’s their own vision? We take measurements, obviously, that’s needed. And we agree on timelines as far as the design goes and how much design is going to be necessary. Some people are just shopping for a price and an estimate, in which case, we’re not going to be doing a whole lot of design. But those who are really thinking about the kitchen, there’s a fee. So, there’s free design consultation, which has a very different outcome than actually designing a kitchen. We agree on that. And then we start working on what that design can be. It generally takes about a week or two for us to put together the images for the kitchen, reshuffle the space, come up with finishes that are options, and then we get back together and look at the cost, the different options with the cabinets. You know, I’ve put a corner cabinet in, and maybe they wanted a blind corner or something. The functionality of the kitchen is critical. Same thing with the bathroom, though. There’s not as much going on as there is in a kitchen from an organization standpoint. And so we really want to make sure that it’s what they have in their minds. Everything from, do you like a farmhouse sink? Or do you like a sink that’s stainless steel and undermounted? One tub, two tubs. Back to the decisions. And then once we’ve gotten an agreement on what the kitchen layout is going to be, there’s a deposit, and we put together the timelines, order the cabinets. We carry a couple of different lines. Some of them are very fast to get in, but we also have what is sort of my favorite and the one that we like to promote the most, a partnership with a company called WW Wood Products. And there’s three lines of cabinetry that they sell. Those take six weeks, but they’re all built in the US from scratch. So we work with them, and it’s about a six-week lead time. And then once all of the cabinets arrive, right around that timeline, we’ve either started the job because we’re going to put in new flooring, we’re going to take out walls, things like that. But it’s critical that we know exactly when the cabinets are going to arrive and that we’re starting a timeline that’s right around them, because we don’t want somebody to be inconvenienced and without a kitchen for a really long time. So it’s pretty standard practice. I think the, you know, the size of the job just depends on the extent. We did one recently with a woman in Yardley who just wanted new cabinets. She had beautiful countertops that were already in place. She didn’t want to change those, but her cabinets had been there for decades and really were in very bad condition. And we actually went in on a Monday morning. And by the time she got home from school, she’s a school nurse, by the time she got home from school, she had a new kitchen. So, it just kind of depends on what the job is, how fast it can be done, etcetera.

Madison: Yeah, absolutely. What are some common challenges you face in the kitchen and bath remodeling projects, and how do you overcome them?

Carrie: Sure. So, I would say one of the biggest challenges is expectations first and foremost. And what I mean by that is helping somebody understand that—and I actually put a blog out about this because I felt it was critical, and I was talking to my mom about it. She was going into a big remodel and really didn’t know what she was going to be getting into. There’s a dip when these things happen. And when you are especially going through a process where you’re moving walls and you’re changing the ceiling or you’re changing significant structural parts of the kitchen to make room for what you want, it can be really frustrating because what you’re looking at is a mess every day. It’s open walls, plumbing, all of the plumbing, all of the electrical. None of that is beautiful, and none of it is fun. And I’m sure there are many plumbers and electricians who would be mad at me for saying that because they love their work and it’s absolutely critical. But to the homeowner who is just seeing finishes and doesn’t necessarily understand all of that stuff, that part of the project can feel very long. When the cabinets start going in again, you think you’re on the home stretch. And that may not be the case because countertops actually take a while. And so that finished product really kind of happens over time. And I think a lot of people think it’s going to be fast and magic because HGTV has set expectations; they get it done in 30 minutes, and that’s not the case. So I would say expectations are first and foremost, and we work with our clients to make sure that they understand what it is that we’re going to be doing, how long it’s going to look that way. We also try to clean up along the way to make sure that it’s not an inconvenience to somebody and that they have some sense of peace at the end of the day when people aren’t there. Some of the other troubleshooting things are level floors, level ceilings, because when you’re dealing with, you know, bringing cabinets, you want them up to the ceiling, and you’ve got beautiful crown molding. If the ceiling is crooked, you’ve got a gap that you have to solve for. And so, there are ways to have it fade and things like that. Those are common. I think, you know, there’s changes that happen amid the project. Somebody will decide that they want something different that can have a lot of effect, which is why I think working with a designer and having all of those decisions made upfront before you get started is really important. The decisions on the fly really just take—a lot of time to change. I’ll give you a great example of one that could be super problematic: I’ve decided that instead of doing a backsplash, I want this beautiful look of my counters that go all the way up, and it’s seamless up to the cabinet, so I use the countertop as the backsplash. That’s a really fantastic look. But changing your mind about something like that in the project obviously has financial impact, for sure. But the, the electricity that’s running through the walls and that everybody’s put in has to be pulled out because it has to sit further out. That stuff is 2 cm to 3 cm thick, not, you know, three-quarters or a couple of millimeters thick. So there’s just those—like, changing your mind is really a big one. Waiting on supplies, unlevel, uneven floors and ceilings. I think those are probably some of the biggest that we see. A lot of people don’t want to change things, like the flooring. But then if you’re putting cabinets into space where there’s tile, longer term, you’re locking into that flooring. And so, I think there’s just decisions that we help clients understand long-term impact if they make those decisions through the project or at the beginning when they’re trying to plan, and especially if they’re trying to save, you know, by not doing certain things, it never works out quite that way. If you’ve got 30-year-old cabinets and newer flooring, 30-year-old cabinets, and the cabinets that are made today are not necessarily the exact same size. And so, there is going to be repair work that has to be done. So again, most of it is back to expectation setting.

Mike: Right. And with HGTV making a perfect kitchen in 30 minutes. Yeah, I imagine that’d be a challenge. It’s funny, years ago, we had clients who I think had, like, an okay business, and then, like, HGTV took off, and all of a sudden they were out on the main line. They said, all of a sudden people wanted, like, these $50,000 or $100,000 kitchens and, you know, 20 years ago. And she said, “We just couldn’t believe it, like, so we went from, like, a middle-income family to being pretty well off because people wanted it.” And I went to her house one time, she’s like, “I don’t have a hundred-thousand-dollar kitchen. Look at this cherry, blah, blah, blah.” She showed me everything. She said, “This was $18,000 and this lasted me 20 years. And it still looks great.” But people want to impress their neighbors or whatever, and it has upped, I think it, so in some ways, maybe it’s helped your business, but it also presents a lot of challenges because they make it seem easy in a half-hour TV show.

Carrie: They do. And I think there’s—you know, it is, there’s pros and cons for sure. One, it’s entertaining for sure, especially if you enjoy things like that and you dream about what you can do in your own house. I think from a, you know, just an understanding of what actually goes into it, that I think has devastated people’s understanding because they’ll throw up prices, but that’s not the real cost. Sponsorships. And they have people who are donating things, you know, whether or not it’s applicable in your own area. Because if you’ve ever gone out to look at, you know, what it might have cost for, I don’t know, a glass shower door, it’s going to ask for your zip code because that matters. It’s different everywhere. And so, I think that that’s something that people don’t understand. It’s not that simple. I love Chip and Joanna, and I think that’s a—you know, they have a great show and a whole gig going, but that furniture that they put in those houses is $100,000 worth of furniture that the people don’t actually get to keep. They have to pay for it if they want it. So it’s just like, you know, this beautiful end product that people have in their heads is television. And so you have to put a dose of reality and not reality TV into what’s going into your own house. Definitely, it’s driven a lot of interest. There’s cabinet places that are popping up everywhere for a reason because there’s a lot of people who’ve been in their houses for a long time and want to change. But it’s really important to understand what is your budget, how much are you willing to spend and what, and keeping into perspective what that means you’re going to end up with from a final result.

Mike: That’s a great answer. Thank you for that. Yeah. Watching TV shows over the years, like, it always seems like outside of, like, LA and New York, it always seems home prices just seem absurdly cheap. And then, like, when they show, like, the cost of doing something like that can’t be right. Like, there’s no way, you know, it costs—I can’t think of an example, but I’ve seen so many over the years, and so it’s good to hear that that’s correct. And I did not know that places like some of the shows are staged with furniture that’s not really the people’s. That makes a giant difference, right? Because that room without the furniture and all the different furnishings does not look as spectacular. It just looks like an empty room.

Carrie: It does. It’s made for TV. And Waco—this is where Chip and Joanna are—I actually went to Baylor and lived in Waco for a while. The home prices there and what they’re showing, they may actually be realistic and super cheap, but it’s Waco, Texas. It is not Yardley, Pennsylvania. And so, you have to take all of that kind of stuff with a grain of salt and just know that you’re in a completely different market here. That said, like, you know, we truly believe everyone deserves a beautiful kitchen. It does not have to cost $150,000 to get a beautiful result.

Mike: Right.

Madison: Alright, so what are some key skills or qualities you believe are essential for being successful in this field?

Carrie: That’s a good question. I might have a completely different answer if you ask me a year from now.

Mike: Just listening to you talk, the fact that you have the marketing background and have learned design, or almost finished learning the starting point of learning design, and your husband has the skills that he has from being in the trades for years, I mean, those seem like a great place to start with what you’re doing.

Carrie: Yeah. So, it’s a good recipe to get going, for sure. My background, and I think some of—if you’re in marketing and what you hear a lot about is customer experience. And I actually think that that is, first and foremost, what is the customer experience that our clients have. And to me, that is probably far more important than marketing. I think there’s probably tons of contractors in the area who do nothing but get word-of-mouth business, and that is because the outcome satisfied the clients. They don’t have to do marketing and things like that. I do think that, you know, marketing has its place, but customer experience is everything. So if they feel understood, if they feel like you’ve listened to what they want as well as the expectations have been clear, problems are removed as quickly and smoothly as possible, and their end result is, you know, what they wanted, that is, to me, far more important than necessarily the skills. And there are definitely skills that go along with being able to manage client expectations in such a way that drive that degree of success. Other than that, obviously knowing your way around the kitchen and behind the walls. Now, we have, you know, a team. Joe Sesar is our main kitchen install expert, and he does amazing work with trim and things like that. So he’s been around a while, too, and is a magical partner for us. He is now working with a guy who’s from the area and is younger. He’s 20. He does not know what he’s doing, and he is building the skills as he goes. But it starts with just understanding and being on the job site. What does he need to get done? How do you make the clients happy? By cleaning up every day and, like, there are things that he can do, and he can learn as he goes. So for, you know, a little hope, maybe for kids who don’t know which way to go, you want to do a job like this. It’s all about learning on the go and just having somebody that can help instill those skills in you and teach, but it all comes down to customer experience.

Madison: Yeah, I could see that. Yeah. And even just your personality, just speaking to you. If I sat down and wanted to get a kitchen, like, I would feel so comfortable, you know, just, like, chatting with you and figuring everything out. I feel like that totally makes a boatload of difference. Like, you don’t feel—you don’t want to feel, like, rushed. I don’t know, like, you don’t want to be put on the spotlight and be like, “What do you want?” It’s like, no, let’s talk about it and let’s figure it out. So, yeah, that’s awesome.

Carrie: That’s a great way to put it. And I think it’s collective problem-solving together. It’s a partnership, not you’re being sold to. I want to partner with you to get you the best outcome for your house and your family.

Madison: Wonderful. Alright, so, Carrie, is there anything else you would like to share with our audience about your work or the industry as a whole?

Carrie: I don’t really—I don’t think so. I mean, the work, you know, we’re getting better at social media, taking pictures. It’s a lot of work to take pictures as you go, but, you know, being able to showcase, getting reviews, and all of the kind of stuff that goes with it, you know, we’re working on that kind of stuff. But I think there’s references that we’ve got as far as people to talk to that can showcase our work for us, which is really nice.

Madison: Alright, so, Carrie, where can listeners find more information about you and your services?

Carrie: Sure. So www.kitchenmenow.com, pretty easy to remember. There’s a calendar; you can set up an appointment, and we’ll either come to you or you can come to our office. We’re at 172 South Main Street in Yardley. Not there a whole lot. It’s really by appointment only. But if we’re there, hop in. Happy to have a conversation. But, yeah, I think the website is a great place to start.

Madison: Wonderful. Are you on any social media, too?

Carrie: We are on Instagram and Facebook, yes.

Madison: Perfect.

Carrie: Okay. Alright. Glad to be here. Thank you so much.

Mike: Thanks so much for taking the time.

Madison: Of course. Thanks for joining us, Carrie.

Carrie: Thank you. Take care.

Mike: Alright, bye.

final-thoughts

Madison: For more information on Yardley Wealth Management or Yardley Estate Planning, you can visit our website yardleywealth.net, and yardleyestate.net. You can also follow us on socials at Yardley Wealth Management. This podcast has been produced by Madison Demora and Mike Garry with technical and artistic help from Poe Productions.