218. Erin Lichy: Balancing Reality TV, Entrepreneurship, and Daily Life, Behind the Scenes of Mezcalum, RHONY, and the Financial Highs and Lows of Business Ventures
Jan 20, 2025
auto_awesome
In this engaging chat, Erin Lichy, a serial entrepreneur and co-founder of the mezcal brand Mezcalum, shares her whirlwind life balancing business and reality TV fame from 'Real Housewives of New York.' She dives into her struggles and triumphs in entrepreneurship, including a six-figure loss in a handbag venture and the lessons learned along the way. Erin also discusses the importance of financial transparency in personal relationships, her passion for interior design, and the complexities of navigating the competitive Hamptons real estate market.
Balancing multiple roles in entrepreneurship fuels productivity, with the speaker attributing this to their affinity for chaos and a newfound understanding of ADHD.
Entering reality TV has provided new opportunities and risks, enabling the speaker to represent a more authentic portrayal of New York life.
Emphasizing financial transparency, the speaker highlights how open communication with their partner improved their financial management and relationship dynamics.
Deep dives
Balancing Multiple Ventures
A multifaceted approach to entrepreneurship allows for greater efficiency in managing multiple businesses. The speaker highlights the experience of juggling various roles, from being a CMO at Mezcaloom to an interior designer and a reality TV personality. They attribute their ability to handle multiple projects to a personal affinity for chaos and the thrill of creation, suggesting that having numerous responsibilities fuels their productivity. This unique cognitive style has been honed over time, with the speaker eventually receiving an ADHD diagnosis that helped contextualize their work habits.
The Challenge of Reality TV
Entering the reality TV world is framed as a fresh challenge that presents new opportunities and risks. The speaker was drawn to this particular iteration of the show, which they believe represents a more diverse and realistic portrayal of New York life compared to previous seasons. This decision was not without hesitation, as they expressed concerns about the potential impacts of fame on personal relationships. Ultimately, the excitement of collaborating with accomplished women and showcasing their authentic selves outweighed the risks involved.
Financial Transparency in Relationships
The discussion touches on the importance of financial transparency between partners, highlighting a personal experience where a lack of communication led to surprises in financial management. The speaker experienced frustration when discovering their spouse had sold assets they were unaware of, initially feeling a sense of betrayal. However, the focus shifts to understanding the nuances of financial navigation within a relationship, emphasizing that open discussions lead to healthier interactions. This insight reflects the larger societal issue of financial secrecy in relationships, suggesting that more transparency could help prevent misunderstandings.
Learning from Business Failures
Reflecting on past failures, the speaker considers the lessons learned from their previous handbag business that did not succeed. They view this experience not just as a failure but as a crucial stepping stone that provided valuable insights into business management and operations. Highlighting the importance of seeking guidance and not shying away from asking for help, they stress that understanding the industry landscape and navigating the pitfalls can vastly improve future ventures. This mindset has significantly influenced their approach in establishing Mezcaloom, focusing on building a solid foundation and raising capital beforehand.
Building a Supportive Network
Establishing a network of industry experts is considered fundamental for success in any entrepreneurial venture. The speaker emphasizes the role of seasoned advisors and partners in guiding fresh startups, particularly in the highly competitive beverage market. They share experiences of leveraging connections within their network to navigate challenges, negotiate deals, and optimize business operations. Such collaborative efforts ensure that the business not only thrives but also reflects a well-rounded approach to market demands and operational efficiency.
This week, Jason is joined by mother, wife, businesswoman, and reality TV personality from Bravo’s Real Housewives of New York, Erin Lichy!
Erin is a dynamic serial entrepreneur with a diverse portfolio. She is the co-founder and CMO of Mezcalum, an all-natural, 100% Mezcal brand, where she leads marketing and branding strategies. Erin’s career also includes work as a real estate agent, co-founding a successful handbag brand, and launching an interior design and build firm—all while cultivating a powerful personal brand. Most recently, she joined the cast of Real Housewives of New York and continues to play multiple roles in the media and entertainment industries.
Erin discusses how she balances her entrepreneurial ventures, including joining Real Housewives of New York after a recommendation from an original cast member. She shares her negotiation tactics, how she and her husband manage finances, and navigating communication with an avoidant partner. Erin reflects on losing six figures in a handbag venture, the importance of building a solid business, and raising $1.5M for Mezcalum. She also talks about her advisory team, real estate deals in the Hamptons, and her passion for interior design. Plus, Erin answers rapid-fire questions on the RHONY cast, the need for vulnerability on reality TV, and cultivating meaningful relationships.
Erin reveals all that and so much more in another episode you can’t afford to miss!
Trading Secrets Steals & Deals! Fabric by Gerber Life: Fabric by Gerber Life was designed by parents, for parents, to make it easy to plan for and manage your family's financial path. Join the thousands of parents who trust Fabric to help protect their family. Start investing in your child today at meetfabric.com/TRADINGSECRETS
Robinhood: With Robinhood Gold, you can now enjoy the VIP treatment, receiving a 3% IRA match on retirement contributions. The privileges of the very privileged are no longer exclusive.
With Robinhood Gold your annual IRA contributions are boosted by 3%, plus you also get 4% APY on your cash in non-retirement accounts - That's over 8x the national savings average. To receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold
ShipSkis: Skip airport stress and costly airline fees. Just schedule your shipment, attach your label, and ShipSkis handles the rest, delivering your gear directly to your destination. Go to Shipskis.com and use the code TRADINGSECRETS to get 20% off your first shipment and save yourself the hassle this ski season.
Quince: Quince lets you treat your loved ones—and yourself—to everyday luxury at an affordable price.Gift luxury this holiday season without the luxury price tag. Go to Quince.com/tradingsecrets for 365-day returns, plus free shipping on your order!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode