Turning Your Passion Into a Multi-Million Dollar Business with Beate Chelette
Today's Elite Achievement guest is a former photo editor at Elle magazine in Germany. As a first-generation immigrant, she got herself out of $135,000 of debt by bootstrapping her passion for photography into a successful global business that she eventually sold to Bill Gates in a multi-million dollar deal.
Beate Chelette is the Growth Architect and Founder of The Women’s Code. Beate provides visionaries and leaders with strategies and results-oriented, tangible tools and techniques to improve business systems as well as strengthen leadership skills and teams so that you can scale your impact. In this episode, Beate shares her business journey and how it eventually turned into a multi-million dollar deal, as well as other business tips and insights.
Highlights:
05:51 – I fell on my knees, and I raised my fist, and I yelled at God for 2 minutes. And I said to him, if you have a plan this would be a really excellent time to fill me in, thank you very much. And then you surrender.
08:28 – I decided that I was not going to drown in a puddle. Because it's not worth it, drowning in a puddle. If you drown, you drown in the ocean, at least it's a better story. And I learned that I had to be very precise on how much time I was going to allocate to worrying about things that I could not change at that moment.
19:40 - I think most entrepreneurs are thinking that doing an incremental growth plan is the sensible thing to do. When we are building a business, the idea is not incremental growth. The idea is quantum leaps.
30:23 – Yes, that is the key: the attachment to the money invested in one strategy, and then holding on to that strategy until the ship sinks. Not every strategy is going to work. You're going to have to allocate money, two different strategies with the idea, like an investor.
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