The Hot, Smart, Rich Glow-Up Guide for Entrepreneurs
Jan 11, 2024
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Maggie Sellers, investor and content creator, shares her insights on managing time, investing in oneself, and building networks. She discusses the importance of understanding consumerism, venturing into angel investing and content creation, finding the right investor for your business, evaluating investors and founder qualities, and being an advocate while taking feedback.
Understanding consumerism and the needs of the target audience is crucial for success as an investor or founder.
Investing in personal and professional growth, as well as consumer brands and technology companies, is essential in entrepreneurship.
Storytelling and being a pioneer in content creation can inspire others, with a focus on avoiding pushy sales approaches.
Embrace all aspects of identity, including femininity, to utilize consumer power for impact in entrepreneurial and investment spaces.
Building meaningful connections through intentional networking and providing value is key in the startup scene.
Balancing business and personal goals by prioritizing tasks, utilizing effective time management strategies, and investing in personal growth leads to thriving as an entrepreneur.
Deep dives
The Importance of Understanding Consumerism
Women in the U.S. hold 85% of consumer spending, yet only receive 2% of venture dollars. To be a successful investor or founder, it is crucial to understand consumerism and the needs and desires of the target audience.
Taking Calculated Risks and Building a Portfolio of Ventures
Maggie Sellers, an angel investor and startup advisor, shares her journey of bettting on herself and turning down a full-time job offer to pursue a portfolio of ventures. She emphasizes the importance of personal and professional growth and the desire to invest in consumer brands and technology companies.
Content Creation as a Unique Approach to Business
Maggie discusses how she ventured into content creation, specifically on TikTok, to share her career experiences and insights. She emphasizes the significance of storytelling and being a pioneer in the field, aiming to inspire others through her content while avoiding the pushy sales approach commonly seen in the industry.
Investing in Yourself and Embracing Multifacetedness
Maggie highlights the importance of investing in oneself and embracing all aspects of identity, including femininity. She challenges traditional stereotypes and encourages more women to be multifaceted and not sacrifice their true selves. By doing so, women can utilize their consumer power to make an impact in the entrepreneurial and investment space.
Networking, Cold Calls, and Cultivating Relationships
Maggie shares tips on networking, including cold calls and reaching out to build relationships in the startup scene. She advises providing value to the person you're reaching out to and being intentional in your approach. Engaging with the local startup community and understanding their missions and backgrounds is key to cultivating meaningful connections.
Balancing Business and Personal Goals
Maggie offers advice on balancing business and personal goals. She recommends prioritizing and focusing on a few essential tasks each week rather than overwhelming yourself with a long to-do list. By being diligent, harnessing the power of habit stacking, and utilizing effective time management strategies, entrepreneurs can thrive in both their professional and personal lives.
Budgeting and Investing in Yourself
Maggie introduces an upgraded budgeting rule, the 50-20-20-10 rule, which includes a dedicated portion for investing in oneself. She emphasizes the significance of investing in personal growth, whether through angel investing, joining membership clubs, or other opportunities that broaden networks and create personal advantages in the business world.
Cultivating Soft Skills and Effective Leadership
Maggie encourages aspiring founders to cultivate soft skills and effective leadership qualities. She highlights the importance of having an openness to feedback, a strong point of view, and the ability to lead a team with charisma and resilience. Studying successful leaders from history and emulating their characteristics can provide valuable guidance in becoming an exceptional founder.
Investing in Brands with Mission and Market Timing
Maggie discusses her investment in DeSwa, a non-alcoholic beverage company co-founded by Katy Perry. She emphasizes the importance of market timing and a clear vision for success. By assessing the involvement of celebrity partners, the structure of the deal, and the strength of the team, investors can identify brands with the potential for mass market appeal and long-term success.
Building Successful Brands: Product, Audience, and Controversy
Maggie shares key insights on brand building, emphasizing the importance of an amazing product, knowing your target audience, and not shying away from controversy. Founders should avoid trying to please everyone and instead focus on creating a strong brand identity that resonates with their core audience. Ruffling feathers may actually drive more engagement and loyalty from the right audience.
Cultivating Self-Belief and Positive Self-Talk
Maggie concludes by emphasizing the power of positive self-talk and self-belief. Treating oneself kindly and positively is crucial for personal and professional success. By valuing and respecting oneself, individuals can achieve their goals and inspire others to do the same.
Maggie Sellers is an investor, content creator and founder of Hot Smart Media and HSR Ventures. She joins the show to help entrepreneurs glow-up their business this year, whether that's managing their time better, investing in themselves, or building their network.
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