SDH 121: How to Reinvent Your Business A Candid Conversation with Beth Peterson
Did you begin a business venture and something didn’t work out along the way? Maybe you haven’t started yet, but you have an entrepreneurial plan. You may be scared to take action because of fears like unexpected changes to your plan and ultimately failure?
You cannot escape these fears and changes, because they come along with entrepreneurship.
But what also comes with it, and has double the strength as your fears, is
R-E-S-I-L-I-E-N-C-E.
Today’s guest, Beth Peterson, is the brains behind Yummie Network. She had to reinvent her brand after an unexpected change behind scenes in her original company. Beth did not give up and shows off her resilience like boss.
In this very candid episode you will…
Understand the process of getting funded
Hear some traits all entrepreneurs must have
Value the extreme importance of evaluating a partner
Learn about the process of reinventing a brand
Advance your skills going into a funding meeting
Acknowledge the importance of building revenue and not just funding
RESOURCES:
Beth Peterson Personal Website
"Miracle Morning" by Hal Elrod
INSIGHTS:
“This all sort of evolved through my love and passion for food and creating content for food.”-Beth Peterson
“You have to be ready to see things through and know when it’s time to make another move.”-Beth Peterson
“There’s a lot of risk taking and sometimes it works and sometimes it doesn’t. Sometimes, the not working part is OK because you’re supposed to reinvent and come up with something at better.”-Beth Peterson
“You gotta be ready to sort of accept when things aren’t going the direction you think they’re going to go and pivot and take what you have and make something new.”-Beth Peterson
"You have to have that resiliency and perseverance as an entrepreneur"-Beth Peterson
“I tend to dive into things whole heartedly without really evaluating everything.”-Beth Peterson
“Sometimes you have to make errors so the next thing that you do is going to be even stronger.”-Beth Peterson
“That’s not how life works. It doesn’t always go your way.”-Beth Peterson
“There was a moment where I was like 'I can’t keep dragging myself through this. I need to make a move right now.”-Beth Peterson
“Even though I am in love with this project and I want to keep moving on it, I can’t because I know it's going to be difficult for me to make money on this so i've gotta move on.”-Beth Peterson
“I’ve learned some serious lessons and I won’t be doing that again.”-Beth Peterson
“You need to focus on improving your model and you need to make sure you focus on revenue..”-Beth Peterson
“Focus is a huge thing for entrepreneurs.”-Beth Peterson