On every episode of How Success Happens, I get to talk to incredible people who have done incredible things despite the many roadblocks and risks entrepreneurs face.
This week, I spoke with Kim Perell, a nine-time founder, best-selling author, investor in 100+ companies, and a proud mom of four.
If you’re a fan of Entrepreneur, you know Perell from her role as an investor on our show Elevator Pitch, and now she’s gearing up to co-host Entrepreneur’s event of the year, Level Up, in Las Vegas on August 22-23. I will definitely be there, and you should too. (Get tickets here.)
Perell has a new book out called Mistakes That Made Me a Millionaire. Mark Randolph, the co-founder of Netflix, calls it “indispensable reading.” In the book, Perell gives an unblinking account of her entrepreneurial journey and breaks down how she turned career missteps into secret weapons that propelled her forward. Trust me, when you’re done listening, you’re going to want to get that idea out of your head and get to work!
Check out our entire conversation here, and read below for three success takeaways I gleaned from our inspiring convo.
- Be patient. Kim says there are no overnight successes. After losing her corporate job, she started her own digital marketing company from her kitchen table, using a $10,000 loan from her grandmother. “I sat at my kitchen table for three years, 16 hours a day, just grinding it,” she recalls. “It is hard. It is lonely. But you have to be tenacious, and when everyone else would give up, you have to keep pushing forward.” Her tenacity paid off. She sold that company for $20 million. And she didn’t stop there — the last company she sold went for $235 million. In case you’re wondering, yes, she paid back that loan to her grandmother, plus interest.
- Take your shot. When it comes to investing, Kim says she always backs great people over great ideas. “I want adaptable people who can find a way to win regardless of circumstance. And honestly, the idea always changes.” And she encourages everyone to go to Level Up and take their shot with her. “Pitch me your idea, I can’t wait!”
- Business failure isn’t personal failure. Kim credits her success to learning from mistakes but not dwelling on them. “Your business can fail, but don’t define or label yourself as that failure,” she says. “You have to be able to say ‘That was just something that happened’ and move on.” She adds, “The only mistake you should never make is giving up on yourself.”
Related: Guy Fieri Teaches His Team This Customer Service Secret — And It Can Unlock Unexpected Success For Your Business Too
3 Things to Know About Kim
- Kim keeps a personal highlight reel on her phone to look at whenever she’s feeling doubtful.
- Her favorite way to turn off her business brain is spending time with her kids. “I have four kids, and when they’re all together, you can’t think about anything else!”
- If you are not “earning or learning” at your job after three years, Kim says it is time to move on
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Kim Perell
On every episode of How Success Happens, I get to talk to incredible people who have done incredible things despite the many roadblocks and risks entrepreneurs face.
This week, I spoke with Kim Perell, a nine-time founder, best-selling author, investor in 100+ companies, and a proud mom of four.
If you’re a fan of Entrepreneur, you know Perell from her role as an investor on our show Elevator Pitch, and now she’s gearing up to co-host Entrepreneur’s event of the year, Level Up, in Las Vegas on August 22-23. I will definitely be there, and you should too. (Get tickets here.)
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