When was the last time you made a risky decision simply because you did not believe in yourself? I know it can be scary to make the leap to close a failing business and start a new one, but trusting yourself and pushing past your fear is one way to experience true sales success & bliss.
Mada Seghete leads the growth marketing team, and is one of the co-founders of Branch. She was included in Linkedin’s Next Wave, 150 top professionals in 15 industries all under 35.
Here are a few key secrets we talked about in this episode:
- Michelle introduces Mada Seghete.
- Mada shares about her experience with app creation and all her entrepreneurial experience.
- Mada and her team were trying to create an app like Fitbit for dogs, and were told NO from investors!
- At the beginning, it’s easy to think when you’re not getting investment money, that it’s about you, not your product!
- When they started connecting with their ideal client, the pet owner, Mada and her team found that people were not interested in their product for their pets.
- Facing rejection was the hardest thing Mada and her friends had ever faced. They lost a lot of money, and one even had to stay on another friend’s couch because they lost everything.
- It was helpful to understand that NO’s came from customers, not from investors. The market was small, and already saturated.
- Hearing a NO helps you refine your business model!
- If customers say YES and investors say NO, then you may be able to get traction to eventually gain investors.
- Transitioning between businesses was one of the hardest, most depressing times of Mada’s life.
- Mada’s biggest NO was when her green card was denied, and she had to wait six months before she could reapply.
- During that time, she started Branch, her current company.
- When Mada was in her low times, she wallowed in grief and frustration for a while: then she said NO to grief and frustration and moved on and realized it was time for her to believe in herself.
- When they decided to sell their app, they were asked to continue working on it. But they realized that it NO longer served their purpose and long-term goals.
- Your company and your entrepreneurial journey is your baby, and it’s hard to let go!
- “We were just kept holding onto it because it was this thing that we had built. And looking back it seems crazy to me that we did that.” ~ Mada Seghete
- When it comes to closing a business, you should ask yourself a few questions: “What am I gaining? What will I gain in the long term by doing this, and focusing my time on this, and how valuable is my time, and should I focus on this?”
- When it comes to business, and attracting investors, you just have to jump in completely! It’s the only way you can make your business work.
- “Say NO when you know that you cannot deliver.” – Mada did, and was very clear that she would not be able to deliver.
- Mada shares what she would tell her younger self.
Connect with Mada Seghete:
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P.S. If your business is failing and you’re ready to jump in with two feet on your new endeavor… it’s time to believe in yourself. In THIS BLOG POST I’m sharing how to push fear to the curb and bet on yourself.