Today, we are going to chat about “SCRAPPY”. As I read this book, I was struck time and time again by how this theme of “scrappiness” continued to be the driving factor and often the difference maker in their success. The Merriam Webster definition of scrappy is “to have an aggressive and determined spirit”. Eric and Adam did have remarkable gumption to fearlessly go after their goals, but what I found most impressive is how resolute they were in achieving those goals. A lot of us can summon the courage to try a hard thing once, but to try again and again after being struck down is a lot harder to do. However, Eric and Adam remained resolute in their goals, but flexible in their approach.

So how do we get a little of that scrappiness for ourselves? There seems to be three main qualities this dynamic duo seemed to have that created this “Scrappy Mentality”.

Quality 1: Embracing the Mentee Mindset

It’s really hard to be the leader of an organization and also allow yourself to be humble enough to admit that there are things you don’t know. Eric and Adam embraced the“not knowing” and got really comfortable with understanding what they were and were
not good at. That level of vulnerability allowed them to grow astronomically, and by extension so did their brand. Eric and Adam were not strangers to rejection, but they did 3 things that allowed them to convert those no’s into a resounding YES.

1. When they were declined at buyer meetings, they didn’t assume they understood why, they asked. They let it get awkward as long as they got the answered they needed to regroup and take another crack at it.
2. They got professional help for the friction points they could not figure out on their own. They knew when to suck it up and spend on the help
3. They never lost connection with their customers. Even when the feedback wasn’t easy to hear, they pressed on trying to understand the customer’s experience so they could come up with a home run.

Quality 2: Never Let Lack of Money Deter You

Money issues exist at every level. There will never be a point where Cash Flow and profit margin are less important. I don’t care how big of an investor, client, or buyer you just landed, you can always find yourself in a cash flow crunch. HOWEVER, a lack of money doesn’t have to prevent you from getting what your business needs. Adam and Eric used all kinds of clever ways to fund or realize their projects. Here are just some of the tactics they used

• Strategic partnerships with companies that had what they needed. They essentially had a barter system on steroids to get their coveted bottle design.
• Made lifestyle cuts in order to not put too much pressure on the business finances
• Utilized their human capital as well as their financial capital. What does this mean? They didn’t just try to buy their way into a buyer’s meeting. They made friends and asked for favors from people who either were invested in them as friends or believed in what they were trying to achieve.

Quality 3: Resilience

Adam and Eric talk a lot about scaling fast, but what I don’t think they give themselves enough credit for is their ability to bounce back fast. The story of their “big break” shows at least 3 devastating and seemingly impossible obstacles that stood between them and Target. They took a beating from buyers, experienced shelf debacles that risked their position at Target, and then had to contend with the sudden flood of the market once their brand took off.

Through all of this, they allowed themselves to quickly experience the emotions and then move on to the solution. They never allowed themselves to make fear based choices. Rather than panicking they slowed down and made well thought out strategic plays and that strategy has been a game changer for them.

I am so stinking excited about today's guest and topic.  When I talk to business owners, one of the most common beliefs they have is that they don't have the financial resources to back their success.  Well today, we are challenging that notion as Margot shares with us some insider information about how lending works.

Margot is responsible for overseeing and strengthening LiftFund’s commitment to cultivate, support and empower small business success through responsive business advising and training services. She is passionate about upholding LiftFund’s promise to deliver a customer experience beyond ‘just a loan.’

The vision of Lift Fund is to transform lives by opening doors, leveling the financial playing field and building a community of shared success through entrepreneurship.

Visit www.liftfund.com/events for upcoming webinars or workshops in your area.

Website: www.liftfund.com , www.liftlearn.com

Twitter: @LiftFund-US

Are you ever frustrated with how your brand "comes off"? You are so painstakingly careful about creating your product. The messaging is on point, but somehow your employees keep fumbling the ball and it's hard to get a win.

You know what you want your brand to do in your mind, but you just can't seem to "buy in". If any of this resonates with you, then this episode is a must. It will answer all your questions about hiring and keeping your team clear and excited about what your brand is all about.