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Masters of Scale

Stacey Abrams: How to harness risk

Masters of Scale

WaitWhat

Entrepreneurship, Business, Management, Reid Hoffman, Mindset, Diversity & Inclusion, Jeff Berman, Bob Safian, Startups

4.64.4K Ratings

🗓️ 12 September 2023

⏱️ 49 minutes

🧾️ Download transcript

Summary

For some entrepreneurs, risk is just part of the game. But for the reluctant entrepreneur, whose endeavors come as a response to a need they've identified, risk can feel more like a necessary evil. That’s why you need to learn to harness risk. Stacey Abrams, an entrepreneur and scale leader both in and outside of politics, is a perfect example of how harnessing risk can be key to your success. Outside of politics, she’s started three companies with her business partner, Lara Hodgson. Their new book, Level Up: Rise Above the Hidden Forces Holding Your Business Back, dives into the lessons learned from those experiences. She also founded and scaled two voting rights organizations: the New Georgia Project and Fair Fight Action, as well as the census mobilization effort Fair Count and the Southern Economic Advancement Project.

Read Level Up: Rise Above the Hidden Forces Holding Your Business Back, by Stacey Abrams and Lara Hodgson: https://amzn.to/36bw5Ay

Read a transcript of this episode: https://mastersofscale.com

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Transcript

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0:00.0

We went to Katsubu, Alaska.

0:06.0

And we're fly fishing. We're doing she fishing in a catcher release area in Katsubu.

0:14.0

It was cold.

0:21.0

It was beautiful.

0:25.0

I'm in the water. I'm casting fast and reeling any faster.

0:31.0

That's Stacey Abrams. You probably know her as a leading voice in American politics.

0:39.0

But the story she's telling is a window into her parallel life as an entrepreneur.

0:44.0

In 2006, Stacey and her friend Laura Hodgson co-founded a small venture called Insomnia Consulting.

0:51.0

Now, they found themselves north of the Arctic Circle, trying to win a new client.

0:57.0

That would be the Alaska Native Corporation or Nana representing local indigenous communities.

1:03.0

Our guides are members of the Indypat tribe that own the Nanna Corporation.

1:08.0

And so we're out there.

1:10.0

And one of the gentlemen came up to me and he was going to gently correct my casting.

1:15.0

And I said, no, no. I know what I'm doing. My dad is an avid fisherman, so I know how to fish.

1:19.0

But her guide pointed out the obvious flaw in her argument.

1:23.0

He said, well, you're not catching any fish. I'm like, I don't want to catch the fish.

1:27.0

It's cold in this water and I just want to give it a requisite amount of time and then get out.

1:32.0

But out of graciousness because I am Southern, I caught three she fish.

1:36.0

I demonstrated my prowess with the rod and the reel. I released the fish and I got out of the water.

1:41.0

I'm back on the boat. I'm reading the book I want to read. And Laura is still in the water.

1:46.0

And she is catching and releasing and her she fish count is rising by the moment.

1:54.0

And they lean over and they said, she's really good.

...

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