Masters of Scale
Stacey Abrams: How to harness risk
Sep 12, 2023
Stacey Abrams, a renowned entrepreneur and political leader, is the guest, sharing her insights on harnessing risk in business. She discusses the importance of leveraging networks for product development and navigating market entry challenges, particularly for underrepresented entrepreneurs. Abrams emphasizes the thrill and trials of entrepreneurship, detailing her experiences with innovation and uncertainty. Her new book, co-authored with Lara Hodgson, encapsulates strategies for overcoming hidden barriers in business, making risk a pathway to success.
43:29
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Quick takeaways
- Embracing risk and harnessing it can be crucial for success in entrepreneurship, as demonstrated by Stacey Abrams in her scaling of businesses both in politics and outside of it.
- Building a business model based on trust, reliability, and adaptability, as well as learning from failures and embracing curiosity, are essential aspects of entrepreneurial success.
Deep dives
Elevating Team Potential: Insights from Stacey Abrams and Laura Hodgson
Stacey Abrams and Laura Hodgson, co-founders of Insomnia Consulting, share their experiences in scaling businesses and their philosophy of embracing both 'yes' and 'but' approaches. Stacey's ruthless efficiency and focus on the mission allowed them to win clients, while Laura's relentless pursuit and risk-taking drove growth. They emphasize the importance of bringing complementing skill sets and working with trusted partners. After nourish, their baby water company faltered due to scalability challenges, they founded Now Account, a FinTech company that helps small businesses get paid immediately for their services. Now Account's success lies in addressing the essential risks for small businesses and building partnerships based on trust.
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