We talk a lot about bootstrapping and starting up a brand-new business on this podcast. But this week I’m getting input about a different kind of entrepreneurial challenge: taking over a legacy brand.
Sarah Carpenter is sharing what made her and her partners decide to buy the American Avalanche Institute, and how they’ve been working to refine and expand the idea of its founder. It’s all about passion and commitment to a greater, shared vision.
We’re getting into the benefits and challenges of having business partners, working on a team, and the importance planning ahead. Sarah’s also talking about the value of community in the outdoor markets, and taking advantage of her resources.
This is such an insightful episode not just for those of you taking over an older business, but for anyone working in a community.
Bravery in Business Quote
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The Cliff Notes
- Before you start a new venture, ask yourself “Am I able and excited to carry on this project?”
- Think of your business partners as a sort of second marriage. You’re committed to them and to a bigger project, so you work hard to communicate clearly and respectfully.
- Look for the big picture. Don’t just hire people who share your vision, but look for people that are also industry professionals and bring their own skill sets to the table.
- Have a plan and a conversation about it with your team before you walk out the door or start a new project. Don’t plan to make decisions along the way.
- Always be willing to learn and take in new information and ideas. You can be strong-willed and opinionated, but don’t block out the input of other people.
- Be a resource for your customers in as many mediums as possible.
- Respect the value of the community you work in, and take advantage of the resources and expertise of others in your field.
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