It’s no secret that I am a fan of podcasts! I listen to podcasts when in the car, on a run, when cooking…I can’t get enough! And it is no secret that I am a big fan of learning from super successful entrepreneurs. So when my friend the The Balaboosta Chef introduced me a to a new podcast, How I Built This from NPR, I immediately became obsessed! I literally listened to 8 episodes on the drive back from North Carolina last week and I was making voice memos with notes from all the lessons learned throughout my 6 hour drive! Every half hour episode features an interview with a successful entrepreneur (think Kate Spade, founder of WeWork, Kendra Scott) who shares how they came up with their idea, how they launched their successful business venture, and the lessons learned throughout. This week I am sharing a few of the lessons from some of these amazing interviews with all of you:
- Failure often leads to success. Did you know Kendra Scott had a hat business that she had to close because she couldn’t pay the bills? Or that before he founded InstaCart, Apoorva Mehta raised $1million in funding for a business that he then closed soon after? Most of the uber successful entrepreneurs interviewed discussed a previous business venture that failed and how the lessons learned helped them build this successful business. As Doug of Melissa and Doug stated “Failure is a word you need to get comfortable with, you cannot fear the failure”.
- Fake it until you make it. Surprisingly, most of the business moguls had no official training in their industry before launching their businesses – Sara Blakely sold fax machines and had no business or product training when she launched Spanx. Kate Spade had no design experience when she launched her first hand bag line. Many of the interviewees discussed how they didn’t know what they were doing when they started out but they figured it out as they went. If you are passionate and determined about your business, you will make it happen!
- Rejection and persistence are part of the game. Every entrepreneur had a story to share about someone telling them “no” or shooting down their business idea but they kept going anyway. Many also had examples of how they knocked on doors and made countless follow up phone calls until the buyer, rep, or manufacturer had no choice but to take the meeting with them. Melissa and Doug went door to door as did Sara Blakely and Kendra Scott – the hustle and the grind can pay off!