Masters of Scale Stacey Abrams: How to harness risk
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Mar 8, 2022 Stacey Abrams, a dynamic entrepreneur, author, and voting rights advocate, shares her insights on harnessing risk in business. She discusses her unique journey from law to entrepreneurship, emphasizing collaboration and mentorship. Abrams dives into the challenges faced by diverse founders, particularly in fundraising, and highlights her experiences launching consumer products, including the growth of Nourish. With a focus on resilience, she covers the importance of employee appreciation and innovative support structures for business success.
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Fishing Trip in Alaska
- Stacey Abrams and Laura Hodgson, co-founders of Insomnia Consulting, were in Kotzebue, Alaska, to win a client.
- Abrams prioritized efficiency, catching only enough fish to demonstrate capability while Hodgson relentlessly pursued the task.
Yes and But
- Different approaches to entrepreneurship, like Abrams' focus on efficiency and Hodgson's relentless pursuit, can be equally valid.
- A balance of "yes" and "but" perspectives within a team can lead to success.
Harnessing Risk Aversion
- Reluctant entrepreneurs, driven by necessity rather than inherent risk-taking, can succeed by harnessing their risk aversion.
- Acknowledge risks as a necessary part of the process, but manage them strategically.
