Hi there! Welcome to Episode #15 of Wealth Unplugged podcast! This is the podcast for the key tips and strategies gleaned from my interviews on Feminine Wealth TV. This week’s guest was Lisa Messenger, a very savvy ‘femtrepreneur’ , CEO of The Messenger Group and founder of the hugely successful Renegade Collective magazine. I just love Lisa’s sense of ‘hussle’ and ability to dream big! One thing she knows well is about building a successful business…
Takeaway #1 – In business, a good skill to learn is detachment from outcome
Things change – markets head south and sometimes we experience events such as a recession. If you are too attached to certain outcomes, you are in danger of not switching directions when it may be required. You need to be flexible enough to morph over time.
Takeaway #2 – Create something of value that the market wants and then leverage it
Before printing a single page of the magazine, Lisa went around and tied up as many deals as she could ahead of time for distribution of the magazine. She got corporate distribution, Qantas business lounge placement and retail distribution. This is brilliant risk mitigation strategy as she had already sewn up deals before spending a whole lot on creating the product.
Takeaway #3 – Get clear on the worst case scenario
This is Lisa’s answer for getting past the fear of risk – be very calculated about what the worst case is and how you would get back from that. Many people are fixated on the best case outcomes and fail to mitigate for those risk factors. No matter what level of business you are at, you need to have clarity on that worst case so you know what to do should each situation occur.