How to Embrace Failure & Listen to Your Intuition as Business Owner | The Ripcord Moment (Ep. 31)

08/07/23 • 23 min

On this episode of The Ripcord Moment, host Joe Seetoo welcomes Julia Schieffer, founder of DerivSource. DerivSource is an independent information source on derivatives, post-trade, fintech, risk management and technology that she sold to Markets Media in 2021.

Julia encourages owners and leaders to listen to their gut. If you feel passionate about an idea, be persistent with your vision even if other people shoot it down. If it does not work out, know that trial and error are integral to finding success and creating uniqueness. Julia reframes failures as “experiments” and knows that they are for her ultimate good.

She also urges owners to detach themselves from their business when it’s time to let go. Although the business might feel like it is a part of your identity, many owners ultimately suffocate their company because they do not allow themselves to trust another entity or owner to give it new life.

Finally, Julia urges owners to know their worth and what they truly want. Write down a couple of your own goals (not what you think people want from you), and never waver from these core aspirations. She also encourages owners to build a strong transition team and surround themselves with a reliable team of lawyers, advisors, and other professionals.

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How to Create Peace, Mindfulness & Direction in Your Life and Business | The Ripcord Moment (Ep. 30)

On this episode of The Ripcord Moment, Joe Seetoo welcomes Joel Sherwin, an experienced attorney and fintech leader. He is now Head of Legal at Galileo Financial Technologies and recently published The Path: A 30-Day Guide to Building a Meditation Habit That Will Change Your Life, a book on how he has become more present and peaceful in his daily life.

Joel emphasizes the importance of mental fortitude for entrepreneurs and business owners. He discusses the need to have self-trust and confidence as you develop your career and pitch ideas to peers; it’s natural to feel afraid sometimes, but Joel encourages listeners to trust that they can ultimately persevere even if they don’t have all the answers right now.

Furthermore, Joel shares his experience with meditation and journaling. These practices helped him manage his anxiety during the pandemic, leading to an incredible transformation in his mental health and perspective. He also highlights the importance of having a solid support system and keeping people in your life who can provide valuable feedback and support (both professionally and personally).

Finally, Joel advises business owners to define their core values as these shape not only their company’s direction but who the company grows with. He also reminds owners to evaluate what their market wants; sometimes, even a great idea that is executed perfectly does not get picked up because the audience or market does not want it. Make sure you do a proper analysis of the products your audience wants and the problems they most desperately need solved.