Entrepreneurship with Jason Feifer and Lindsey Metselaar
Entrepreneurship with Jason Feifer and Lindsey Metselaar
Two Episodes in one!
If you’ve been listening to me for a while, you know that I always love sharing an entrepreneur’s journey, and today is a special double episode all around entrepreneurship. Kicking it off is a conversation I had with Jason Feifer, Editor in Chief of Entrepreneur Magazine, who shares some of the greatest strengths an entrepreneur can have.
After Jason’s episode, I talk to Lindsey Metselaar, host of the We Met at Acme podcast, about her journey toward building a community and business around a podcast. I hope you’re inspired and motivated by the stories these two share.
What are we drinking?
Jason - Upslope Beer
Shannon - Black Cherry Schweppes
Podcast Notes
Jason
Entrepreneurs are a optimistic bunch by nature. This sets them up for success. People who are entrepreneurs have already digested what they need to get through a crisis. They already know what is going to go wrong, that plans will be scrapped, and they are prepared mentally for that.
Nobody is prepared for the magnitude that is happening right now, because we haven’t seen it in 100 years. We are not generationally built for it. If you are always playing the long game and thinking about building a long-term business, you have the mental tools already.
What changes are taking place? What can you capitalize on? What opportunities do you have? What problems could you solve for other people?
Entrepreneur Magazine, where Jason works, needs to make some hard decisions, because they are advertisement driven and they are a print magazine. They will be evaluating what people need and what will work in the long run. What do you do today that will pay off tomorrow?
What’s happening now is an acceleration of something that always happens anyway, which is that markets change and consumers’ needs change and interests change and platforms and technology change, and that alters who wins and who loses. It alters it based on what people need and can the people who were providing solutions keep up with the next set of needs.
Some of the things we needed before we won’t need now. You can look at it either as: 1) Oh no, I’m screwed, or 2) I am on the front lines of change and I have insight on what is coming next.
Failure is data. If you are in touch with people, you understand their shifting needs and can provide them with what they need tomorrow. You are seeing the change and that gives you an advantage.
This is the tail of history. The modern world we live in was built out of terrible moments. A lot of time we see things that trigger fear, but they represent a broader shift.
The things we thought of as radical become commonplace. Oftentimes, the thing that comes next is better. Be embracing of it or you will become outdated.
People have a short memory and don’t like to fund things that don’t have an immediate impact. This is why we don’t have a plan for the pandemic.
The great opportunity for entrepreneurs is to identify three steps ahead what those upcoming changes mean and the opportunities they are going to create.
Right now, the basic fabric of how we create things is destroyed — the supply chain is gone and everyone is consumed with the pandemic. You need to figure out on the core level how to build a constituency and how to build a product or service.
If you are on to something and you have a way to execute it, people will love you for it. People are needing solutions. Ideas are nothing without execution.
Entrepreneurs have the skillset to survive this change, because they have been flexing that problem-solving muscle. If you aren’t willing to commit, it isn’t enough to have an idea.
Don’t let the scary times scare you. If it is a good idea and something the world needs, it will succeed.
Lindsey
What are we drinking?
Lindsey - Water, soon to be Diet Coke
Shannon - Black Cherry Schweppes
Shannon was on Lindsey’s show, We Met at Acme.
Lindsey worked in corporate for a while, doing social media for brands, but it wasn’t very fulfilling. She always had a strong desire to communicate with people. She majored in communication at Boston University.
A few years ago, podcasts were mostly news and there was nothing about dating. Lindsey had just gotten dumped and decided to start a podcast of her talking about dating to a different friend each episode and people started listening.
She still does social media for brands, under her own LLC, but now she does the podcast as well.
Lindsey isn’t married, but she is in a relationship. Is there a dating expert? She is just sharing her dating experiences. Dating is the one thing everybody does. What sets her apart is her openness of what works and what doesn’t work for her.
You need to be opinionated if you want to be interesting or someone other people want to follow. She gets disagreements from followers all the time.
Lindsey started her Instagram account right when Instagram was new. She already had a good following and it grew when she started her podcast. Her social media experience has helped grow her following.
Lindsey posts poll questions regularly.
Dear Media is the parent company that produces her podcast and finds ads for her. They take a cut of that income, but Lindsey makes money that way. She also makes money through ads on Instagram and her tour, which is currently not happening.
The goal is to have her podcast be a full-time job. It is a lot more fulfilling than social media management.
It is surprising to Lindsey how many people are not quarantined with their partners, but with their family. People aren’t putting their partners first, because their relationship with their family is stronger.
Lindsey is in a new relationship, and she is having the time of her life. If she was in a relationship for more than two years, it would be different. You should be able to get through it, by creating boundaries. If you are in a new relationship, you should be jumping for joy that you get to spend so much time with that person.
Lindsey is turning 30 this year, and she is really happy she didn’t get married before now, because she knows herself more. Marriage can be a beautiful thing.
Marriage is expensive to get into and expensive to get out of. It is cheaper to freeze your eggs than it is to get married and divorced.
If you are in a relationship, make sure the other person gives you room to grow and improve yourself and makes you a better person. You should only be with someone you want to be like.
If you want to do a podcast, realize that everyone has a voice. Make sure you come up with some kind of show structure and figure out your goal. After that, get a mic and get going. Don’t waste another minute. The barrier of entry is low. Make content you want to hear.
To make money from podcasting, keep a niche brand, and continue to grow your audience and content. Put your heart and soul into this and as you grow, companies will reach out to you for advertisement, but you can reach out to them first. Be proactive and persistent and keep at it.
Takeaway: My biggest takeaway is that the greatest strength you can have as an entrepreneur is to problem solve, and if you enjoy a never-ending supply of problems to solve, then starting a business might be the right path for you.
Random Three Questions
Jason
What are you currently binge watching?
If this is your last night on earth, what is your last meal?
If you had an extra $30,000, what would you do with it?
Lindsey
What is your favorite question to ask?
When was the last time you cried?
What is the best thing you’ve binge watched lately?
Connect with Jason
Podcast: Pessimists Archive
Twitter/Instagram: @heyfeifer
Connect with Lindsey
Podcast: We Met at Acme
Instagram: @wemetatacme
If you have any topics you would like me to cover on this podcast, or If you’d like to get in the financially naked hot seat, I encourage you to email me to Shannon@fingyms.com, or join the private Martinis and Your Money Facebook group, and let me know what you want to hear.
If you’d like to talk to my team at the Financial Gym to help you manage your finances, if you have a business or you’re thinking about starting one, we’re offering a number of great deals right now. While you’re quarantined from home, our team is happy to help you make your plan and take money stress off your plate. So head over to, or send friends to, financialgym.com to get set up today.