3 Things I've Learned From My New Business

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Instead of writing this in collaboration with my newsletter writer Beth like we usually do every week, I decided to write this fully on my own like in the OG days of Stay Fearless or Die Trying. I’ve got 7 hours and 50 minutes on my flight from London to Boston which seems like the ideal amount of time to watch unlimited episodes of Sex and the City without feeling guilty AND write a newsletter.

Can you imagine a better Saturday? No, you can’t, because if you’re like me you enjoy lazy weekends, minimal plans, little social media interaction, and a lot of good food. When I moved to London, I couldn’t (still can’t) fathom how much people planned there. I avoid plans like the plague on the weekend so much that when people try and book things with me I now say “I am saying yes to this with the goal that I do join you on this adventure however it is very likely I will bail and I want you to have a backup”.

That’s adulting, people. Tell your friends that you will probably bail on a weekend plan early enough in the week so that they have a backup plan.

I’m looking forward to landing in Boston to go to my favorite restaurant, Saltie Girl. I love their fried lobster and waffles. I’d marry that meal. And their dirty martinis. And their tinned fish.

P.S. Why is tinned fish $14 when you can buy tinned fish at Ocean State Job Lot for $3? I know why: branding. People buy $14 tinned fish cans because they look like this (for starters, this deluxe set is a cheap $88 for 4 cans of whatever the fuck is put in that little box, how affordable).

Moral of the story: figure out your brand, your brands’ identity, and how YOU as the founder identify with your brand, and you’re on track to sell $88 tinned fish or $4 sparkling water like Liquid Death does.

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If you follow me on Instagram (if you don’t and you read this newsletter, DM me and I’ll send you some fearless swag), I’ve been posting a tiny amount about a new company I’ve started. I want to say I’m surprised it’s taken off but I’m not. Founders who I know like Michelle Grant, current founder of GORGIE and exited founder of LIVELY, and Natasha Case who founded COOLHAUS ice cream all had similar intuitions when building their brands. When I had this idea close to a year ago, my gut told me something was behind it. I plan to keep it on the DL still because it’s different from what you’re used to with me. It’s an e-commerce business that I’ve never built or scaled before, but I started it at the right time.

I have 10 years of business experience behind me, filled with so much trial and error, that perhaps 12 months ago when I had this idea I wouldn’t have been able to know how to scale it like I do now.

3 things I’ve learned from starting a new business as a seasoned entrepreneur

1. Building a business that’s B2B is night and day different than posting on the web or creating a podcast or popular Instagram. I believe heavily in the world of residual income and you do not have that luxury when you’re a personal brand. When you run a podcast or a coaching business OR a consulting business, everything depends on how hard you work and how much time you put in. This enables you to make a ton of money, and work with incredible clients and brands but equally puts you in a position where you’re constantly looking for the next best thing. You will always need another client or another brand to partner with.

And trust me, I’ve had many months where it’s dead silent. I’m working harder yet still not having brands paying me consistently or struggling to find clients. If you work in the line of work I’ve been in for years, you can probably relate. I know people who are even at the top of their field in that area and still struggle.

So, find a way to make residual income. This doesn’t mean you need to build an e-commerce company but you should sell a product that your fans or clients can purchase that doesn’t require you to show up.

2. The beauty of business is never knowing everything. Oh my gosh, I am so confused with 90% of what I’m doing with this new business and it’s so fucking exciting. I have no idea what’s going on. I spend half the day talking to a manufacturer in China, half the time dealing with orders, half the time on a SPREADSHEET. I HATE spreadsheets and all of a sudden I’m a spreadsheet girly. I’d love it if y’all would go make spreadsheet girly a viral TikTok thing cause I feel like there’s something there. Imagine hot chicks on laptops typing on spreadsheets. Maybe I should pitch that to Hooters.

Which, btw, is still around. I’ve never been in a Hooters but I hear they have great wings. The problem is I hate spice. For a spicy chick like me, I can barely eat a taco without choking. I feel like Hooters would be a spicy place. Fun fact:

Yes, Hooters is still around as of June 2024, when the chain said it was continuing to open new locations and expand into new markets. However, Hooters has also closed some underperforming restaurants, and as of June 2024, Technomic Ignite reported that Hooters had 293 restaurants, a 1.3% decrease from 2022. This is a nearly 12% decline from 2018, when there were 333 Hooters locations. 

I emailed the CEO of Hooters a few weeks ago because I suggested I should handle his LinkedIn content. He has yet to reply to me.

3. Don’t tell people your ideas. I believe this philosophy to my core. I’ve also been in the world of business for so many years that I’ve been screwed over so many times, I now take every precaution. I’m fine with experiencing something new, but please don’t teach me a life lesson I’ve already learned.

I joined my dear friend Alex Snider for a very honest and open conversation about entrepreneurship you may enjoy listening/watching below. Alex has a very successful coaching business and spoke at the last Be Fearless event.

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GTG, time for one more episode of Carrie Bradshaw and lobster fried waffles!

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Stay fearless or die trying,

Alexa

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