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    A Fearless Future with Rebecca Minkoff

    enJuly 05, 2021
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    About this Episode

    For Jewish girls, the bat mitzvah is a pivotal moment of becoming a young adult and joining the adult community. For Rebecca Minkoff, who had been designing and sewing clothes since she was eight years old, the celebration was also a chance to showcase her fashion skills—and her “newly budding rack.” Pulling inspiration from the 1700s (think Bridgerton), Rebecca designed a square-necked, Empire-waist number that checked her boxes (and her parents made sure it stayed PG-13). For Rebecca, this was a foundational step in the lifelong process of becoming a fashion mogul. Now, in 2021, Rebecca Minkoff has flagship stores in LA, Hong Kong and New York City, among others; she’s also distributed by more than 900 companies worldwide. 

    While Rebecca has enjoyed early boosts to her brand—Jenna Elfman wore her “I Love New York” shirt on The Jay Leno Show in 2001—Rebecca has also worked hard to cultivate her business’s profile. For example, when she launched the Morning After Bag (also known as the M.A.B.) in 2005, she leveraged her industry connections, working relationships with Hollywood agents and stylists to ensure that the highly photographed celebrities of the early aughts all had a Rebecca Minkoff bag on their arm. 

    But getting there wasn’t easy: she’s navigated debts, doubts, and setbacks along the way. For example, Rebecca tells us she was once fired from a job after the CEO pulled her aside and told her that  if she didn’t start channelling the passion she was putting into her own side hustle into the CEO’s fashion business, she’d be let go. Rebecca countered with, “I don’t honestly think I can do that.” At the time, Rebecca had small collections in only a handful of New York City stores, but her dedication to her own vision meant letting go of her main gig. “There was no safety net,” she recalls. Rebecca has since been in the CEO’s position, and she’s made the same tough call. “When you’re half-assing two things, you’ll never be able to fully focus on either.”

    When the M.A.B. took off, Rebecca sensed her company’s reputation was starting to hinge on a single product. So she quickly escalated production on a range of offerings, from jewelry to clothing. “We knew we wanted to be a lifestyle brand, and the only way to do that was to go full-force and launch these other categories.” Her company president at the time was from the apparel world, and Rebecca herself had experience with women’s clothing design. She also brought on a shoe expert who could take them from design to manufacture. “We kept finding best-of-breed partners.” Unwilling to do a licensing agreement, she entered into manufacturing agreements—very normal in fashion—and she encourages people to explore different types of partnerships for themselves in their own businesses. 

    One of her most important partnerships is with her brother, who joined the company full-time in 2011. He had loaned her seed money for M.A.B. launch years earlier, and their partnership over the years has had ups and downs. Rebecca tells us that when things get really intense, she and Uri “hired a business mediator to help us when we get those critical impasses:” someone to “unsnarl the tangles” when the business and personal relationships become complicated. 

    Since 2018, Rebecca has also been channelling her creative leadership energy into the Female Founder Collective, a network for female business owners that offers education and resources. She’s also recently published a book, Fearless, that walks readers through her 21 steps for bravery in the face of business uncertainty. “My goal with the book is to throw out the rules: know you’re going to be scared, but do those things anyway.” She knows, from long personal experience, that taking risks is not a fearless endeavor, but moving through fear is a key step for success.

    Resources

    To learn more about our guest, go to https://www.rebeccaminkoff.com/

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

    Recent Episodes from I Make a Living

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    I Make a Living
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    Chances are that your entrepreneurial idols were born after the turn of the millennium, but Ben Towers is here to change that. He’s been working since before his twelfth birthday, getting his start on web design projects for friends and family before launching into the stratosphere: we’re talking British Royal Family, angel investment, and consultancies with companies like GSK and IHG. In 2015, he was named to The Time’s Superteens list, and since then, he’s only gotten more polished in his business practices. He’s 22, and he’s been in business for half his life. 

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    Trigger Warning: this episode discusses postpartum depression and briefly mentions suicidal thoughts. 

    When Erin Bagwell decided to turn to Kickstarter to get her movie off the ground, she didn’t expect to raise over $100K in 30 days, but that’s exactly what happened. Erin’s movie, Dream, Girl, is about the real-life experiences of ten New York City-based female entrepreneurs, and it turns out audiences were hungry for this type of story. Erin watched as women who were longtime experts in their field would have to prove themselves to boardrooms full of men in order to secure funding. “Wanting to be seen as an expert, wanting to be taken seriously, that’s still a big one,” she says. She needed to tell their stories.

    So she pitched it on Kickstarter, and supporters were here for it. Erin credits her “really fabulous video” as the prompt that got people on board. “I spent a lot of money and I had a gorgeous video because I wanted people to look at it as a trailer. A glimpse of what the film would look like.” Erin invested in audio mixing, color correcting, and all the standard-issue Hollywood things to ensure that it looked amazing. “If you’re investing in a documentary, you want it to look, you know, like a film.” 

    Dream, Girl went on to premiere at the Obama White House in 2016. Erin was able to design a successful afterlife for her film. In her first full year of filmmaking, she made over $100K in sales and employed a team of two. She worked directly with her Kickstarter backers to bring the film in front of audiences and supplemented the screening income with a robust speaker’s schedule on top of that. 

    Erin’s twin inspirations for her first documentary had been her own experience being sexually harassed at work, and the collection of anonymous stories she collected into a storytelling blog called Feminist Wednesday. She was seen as a member of the entrepreneurial community, “because I had started this little WordPress blog,” and she had contact with women who were raising capital and launching start-ups. A lot of Erin’s audience was female founders and entrepreneurs who “really wanted to create spaces for connection.” She also linked up with influencers who promoted the film—and themselves—for their audiences. “People want to know your why. Why are you passionate about something, what is it that excites you? People are really attracted to that.”

    For her next project, Erin’s own pregnancy was the catalyst and inspiration. “I was really interested in how people mother,” she explains. Her own experience with postpartum depression changed her expected filmmaking trajectory. “We don’t get to see a lot of great authentic stories about what it means to become a parent;” in making this film, she set out to change that. She felt “called” to share the truths and vulnerabilities of her first year of motherhood, and it became a way of healing her experience with PPD. Reviewing the footage gave her a sense of grace and compassion for her own story. Her goal is to let other mothers see themselves in the messy, ill-fitting parts of the early days of motherhood, and our own Damona Hoffman shares her insights into balancing motherhood and entrepreneurial momentum. Year One is now available to stream on YouTube.

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    When he arrived in LA, he didn’t do the usual waiting tables gig: instead, he kept on with construction work. “As I hustled for work, I also learned more and more about construction.” He worked across many trades—HVAC, plumbing, tiling—and while he “was cheap,” he taught himself new skills by reading up on the subject. When home-improvement shows started to gain traction, Josh suddenly found himself uniquely positioned: he was an actor who knew about contracting. “I was literally, like, I don’t know which zebra I am: black stripes or white stripes?”

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    2020 was a whirlwind of competing priorities that “smacked me in the face.” Josh isn’t immune from second-guessing his directions and decisions, and his experiments aren’t always successful. From trying to renovate a house by himself instead of with his usual eight-person crew (“brutal”) to the decision to pause his own contracting firm, it’s been a season of change. 

    But it’s not all tough news: Josh has leaned into his passion for Boys Town, a residential organization serving at-risk youth. He works with their Trade Life program to help connect young graduates of the Boys Town facility with careers in the trades. (Josh explains that for at-risk kids who can keep clean records between the ages of 18 to 22, “their chance in life skyrockets. So this was a real easy one for me.”) He’s been involved with the organization since 2012 when he did a PSA for the Boys Town, and he fell in love with the mission. Josh helped them re-launch the Trade Life program and expand it to new industries, including car mechanics, welding, and culinary training. Starting as young as thirteen, kids can try different programs and figure out what works for them. Josh himself donates tools, helps connect the program to tool manufacturers, and raises money. 

    Josh’s overarching philosophy isn’t a new one, but it’s a reminder of what can be accomplished through good communication. “Good, fast, and cheap: you can have two, but you can’t have three.” Josh is willing to work with clients on the parameters they set—budget, timeline, scope—but he brings decades of expertise and is able to gently guide them when they want all three. We love this philosophy, and we know we can use it in our own business relationships!

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    2. Get Comfortable with Yourself - Define what confidence means to you, identify your personal values and live them daily!
    3. Check Your Vibes- What relationships are you surrounding yourself with, what decisions are you making about work, life and the space that surrounds you. All of these elements directly impact your mood and your confidence when dealing with negative feelings.
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    Bridging the Burnout Gap with Emily Thompson

    Emily Thompson’s experience starting the Being Boss podcast in 2015 is a strong argument for why you should always plan for success. She and her “business bestie” Kathleen Shannon started the podcast as a way of taking the conversations they were having about their businesses and being entrepreneurs into the public realm—and if they happened to promote their respective branding agency and web design shop in the meantime, well then, hey: that’s a bonus! 

    But a few months in and they were already getting ads. A little while later, they casually launched getaway events like the Being Boss Vacation and signed a book deal. The podcast was taking on a life of its own. 

    Emily was already a successful web designer: she had gotten her start with her Etsy store, having fallen in love with the idea of selling handmade things online. It was during this time that she became “enamored with branding,” and diving deep into who she was serving and why they should care about her business. Eventually, she took her expertise and passion to other business people. She graduated from offering pointers on online banners to running Indie Shopography, her web design agency for more than a decade.

    So when it came time to launch Being Boss, it was a bit of a lark. “We had no business plan. We were just starting a podcast.” Emily and Kathleen went through the usual steps they’d take with any client—from the name, branding, website, and content buckets—but initially, they didn’t plan to monetize their passion project. 

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    And then: burnout struck. Emily says that the rush of opportunities on the podcast side, plus some setbacks in her personal life and other business, led to a feeling of burnout. For Emily, burnout felt like “Ew.” She found herself getting angry and listless when it came to work topics. “I was very much not myself.” 

    “For a while, we thought we were going to shut Being Boss down. We were both so tired.” She set a date, and promised herself that if her homebrew remedies didn’t work by then, she’d get a therapist (and she did); she learned to recognize the way she felt leading up to a depressive episode (“a very deep tiredness”), and she shifted her priorities, giving herself more time. But the major solution for Emily wasn’t to walk away—it was to invest more deeply. While her co-host and partner Kathleen wasn’t ready to leave her day job, Emily wanted to go all-in. “Our solution for mutual burnout wasn’t the same solution.” 

    Almanac Supply Co. started in 2018 because she found her podcast convos were starting to verge on the meta. “It didn’t sit well for me to show up as someone who knows business, but the only business I’m running is this podcast.” She thought back to her time as a web designer; she always “really envied” the folks who were working on product businesses. Pivoting to something nature-focused, hands-on and family-oriented—she even makes the candles with her partner—gives her a sense of purpose, and offering beautiful handmade items brings her back to her Etsy days, albeit with a major glow-up. “I get to show up and be the CEO.”

    Resources

    To learn more about our guest, go to https://beingboss.club/about

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

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    Tech Evolution with Sanjay Parekh

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    Like many entrepreneurs, Sanjay got his start in middle school. He was a candy-bar broker: buying piles of the sweet stuff and then selling to his peers. “If you ask a room of 100 entrepreneurs, more than 50 of them will say they did something like that.” He turned his early earnings into comic books, some of which he still has today.

    In 1999, after graduating from Georgia Tech, Sanjay had an idea that would “make the internet better.” He noticed that the FedEx and IKEA websites were still relying on customers to select their countries before they could begin shopping, but suspected there was a tech workout-around that would smooth out that step. At work the next day, his colleague told him, “It’s either impossible to do, or somebody’s already done it,” but nope: Sanjay found that it was possible and he was first. Digital Envoy was born of this idea, and Sanjay left that colleague behind in 2000. Digital Envoy raised 1.5M in 2000, and 10.5M the following year; selling that first company in 2007 has let Sanjay “continue on this crazy entrepreneurial journey ever since then.”

    A lot has changed since those heady early-internet days, and Sanjay isn’t nostalgic. For one, “You didn’t have the infrastructure stuff that we have now. You don’t need to buy servers. You don’t need to buy storage space.” While Sanjay’s early tech needs often gobbled up his large investments, “A lot of companies are able to start now without having to raise much money or any money at all.” Folks can now get in without huge initial investments, relying on quick, cheap, and global solutions like the cloud. 

    Being a tech-minded entrepreneur hasn’t always been champagne and gala events. Holding patents means that Sanjay has had to sit through “excruciating” sessions in order to explain the nitty-gritty of his products, but doing so “builds a moat to protect the company.” He doesn’t go for the NDA mindset—Sanjay figures that, with seven billion people on the planet, someone else probably has the same idea as him, somewhere—and he says that talking about his ideas is one way of finding out who else is solving that problem, or even why the problem can’t be solved in the first place. 

    He extends that philosophy to the way he approaches all his projects. “You’ve gotta become an extrovert when you’re an entrepreneur, at least in terms of business.” He credits his relationships with strengthening his business: from loyal connections to getting the support staff on board, and from funding events, to board service, relationships are where “good things happen” as an entrepreneur. Where are your best connections?

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    A Fearless Future with Rebecca Minkoff

    For Jewish girls, the bat mitzvah is a pivotal moment of becoming a young adult and joining the adult community. For Rebecca Minkoff, who had been designing and sewing clothes since she was eight years old, the celebration was also a chance to showcase her fashion skills—and her “newly budding rack.” Pulling inspiration from the 1700s (think Bridgerton), Rebecca designed a square-necked, Empire-waist number that checked her boxes (and her parents made sure it stayed PG-13). For Rebecca, this was a foundational step in the lifelong process of becoming a fashion mogul. Now, in 2021, Rebecca Minkoff has flagship stores in LA, Hong Kong and New York City, among others; she’s also distributed by more than 900 companies worldwide. 

    While Rebecca has enjoyed early boosts to her brand—Jenna Elfman wore her “I Love New York” shirt on The Jay Leno Show in 2001—Rebecca has also worked hard to cultivate her business’s profile. For example, when she launched the Morning After Bag (also known as the M.A.B.) in 2005, she leveraged her industry connections, working relationships with Hollywood agents and stylists to ensure that the highly photographed celebrities of the early aughts all had a Rebecca Minkoff bag on their arm. 

    But getting there wasn’t easy: she’s navigated debts, doubts, and setbacks along the way. For example, Rebecca tells us she was once fired from a job after the CEO pulled her aside and told her that  if she didn’t start channelling the passion she was putting into her own side hustle into the CEO’s fashion business, she’d be let go. Rebecca countered with, “I don’t honestly think I can do that.” At the time, Rebecca had small collections in only a handful of New York City stores, but her dedication to her own vision meant letting go of her main gig. “There was no safety net,” she recalls. Rebecca has since been in the CEO’s position, and she’s made the same tough call. “When you’re half-assing two things, you’ll never be able to fully focus on either.”

    When the M.A.B. took off, Rebecca sensed her company’s reputation was starting to hinge on a single product. So she quickly escalated production on a range of offerings, from jewelry to clothing. “We knew we wanted to be a lifestyle brand, and the only way to do that was to go full-force and launch these other categories.” Her company president at the time was from the apparel world, and Rebecca herself had experience with women’s clothing design. She also brought on a shoe expert who could take them from design to manufacture. “We kept finding best-of-breed partners.” Unwilling to do a licensing agreement, she entered into manufacturing agreements—very normal in fashion—and she encourages people to explore different types of partnerships for themselves in their own businesses. 

    One of her most important partnerships is with her brother, who joined the company full-time in 2011. He had loaned her seed money for M.A.B. launch years earlier, and their partnership over the years has had ups and downs. Rebecca tells us that when things get really intense, she and Uri “hired a business mediator to help us when we get those critical impasses:” someone to “unsnarl the tangles” when the business and personal relationships become complicated. 

    Since 2018, Rebecca has also been channelling her creative leadership energy into the Female Founder Collective, a network for female business owners that offers education and resources. She’s also recently published a book, Fearless, that walks readers through her 21 steps for bravery in the face of business uncertainty. “My goal with the book is to throw out the rules: know you’re going to be scared, but do those things anyway.” She knows, from long personal experience, that taking risks is not a fearless endeavor, but moving through fear is a key step for success.

    Resources

    To learn more about our guest, go to https://www.rebeccaminkoff.com/

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!

    Scaling a Digital Marketing Agency with Paddy Moogan

    Scaling a Digital Marketing Agency with Paddy Moogan

    Most people go to Las Vegas hoping to shrug off the demands of work, but for Paddy Moogan, a trip with mates turned into a life-changing business opportunity. On a trip to Sin City, his friend approached him with a proposal: why not take Paddy’s expertise in digital marketing and launch their own agency, a shop where they could call the shots on everything from work culture to clients. “It felt like a good idea at the time to talk about starting a business together,” he says, and after taking thirty minutes to come up with a plan, they decided to go for it. Aira was launched in 2015. 

    The early days took some adjustments. In the first six months, Paddy and his partners tried to divide up their roles and responsibilities, with Paddy taking on the marketing, sales, and raw strategy, while his co-founder focused on delivery and operations. But they soon discovered that divvying up the job didn’t mean better work. “Because we split our roles, we didn’t actually work together all that much, the way we had for the first nine months. We did our best work when we were working together.” Bucking convention, they got the band back together and decided to keep their business roles much looser. 

    It’s this not-quite-conventional approach that helps keep Aira at the top of its game. While other shops might do SEO because a client asks for it, Paddy and his team slow the process down and dig deeper into how the client wants to grow.  He makes a point of pinpointing their client’s actual needs—ranging from content marketing to paid media—and how they interact with the business’s pain points (including tricky spots like investor pressure and pitch meetings). Aira takes a collage approach, offering a buffet of short- and long-term solutions that will both quiet a nervous investor and actually, you know, grow the business.

    Paddy reminds us that SEO is not instant gratification: it actually takes six to twelve months to pay off. “As a company, the thinking has to be in years, not months.” For faster results, he suggests investing elsewhere, like in paid media or paid search in advertising. But he also reminds us to look at what we’ve already got: do you have a big email list that’s just sitting there? One-time customers who could be convinced to return? “What have you already got that you can leverage?”

    Paddy’s ultimate goal is to create a work culture that lets people and businesses be themselves. He encourages his team members to watch their personal triggers—anything from skipping meals to not getting enough exercise—that can lead to crummy decisions or bad moods. He also recognizes that for some, Aira will be a stepping stone along a long career; he does his best to be a springboard, not a gate. Ultimately, he says, “We wanted to build somewhere where, if we were employees there, we would be happy to work.”

    Resources

    To learn more about our guest, go to https://www.aira.net/

    To learn more about FreshBooks and take advantage of an offer exclusive to our podcast listeners, go to freshbooks.com/podcast 

    Follow us on social @freshbooks, and remember to subscribe to get the latest episodes as soon as they become available!