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Embrace the Discovery Phase with Steve J. Larsen

Published on October 28, 2023

Entrepreneurship is a blend of practical skills and emotional intelligence. Join us in this episode as our special guest, Steve J. Larsen, sheds light on the significance of being personally comfortable with the constant growth and change that comes with being an entrepreneur. Steve emphasizes that as an entrepreneur, you’re always learning new skills and developing your emotional intelligence to navigate the fast-paced world of entrepreneurship.

Steve acknowledges that sometimes skills may outweigh personal capacity and vice versa. This insight suggests that while acquiring tactical skills and knowledge is crucial for entrepreneurial success, it’s equally important to develop emotional intelligence to handle the challenges and uncertainties that come with it.

Our conversation with Chris, Laura, and Steve serves as a compelling example of how personal capacity and skills can impact entrepreneurial success. Steve shares a personal experience where his business secured over a million dollars in commitments but lacked the knowledge and preparation to handle the financial aspect. As a result, they lost the money within the next six months. This example highlights the importance of not only acquiring tactical skills but also being personally prepared and equipped to handle the responsibilities and challenges that arise in entrepreneurship.

Steve dives into the strategy of building a brand around a social issue. He explains that when a brand aligns itself with a social issue, it immediately gains an army of passionate supporters. These supporters become ambassadors for the brand, spreading its message far and wide. However, he also acknowledges that enlisting supporters also means enlisting critics, as there will always be individuals who disagree with the brand’s stance on the social issue.

Despite the potential for controversy and opposition, Larsen describes this strategy as both brilliant and effective. He suggests that by aligning with a social issue, a brand can tap into the passion and loyalty of its supporters, creating a strong and engaged customer base. This can lead to increased brand visibility, customer loyalty, and ultimately, business success.

Steve also reflects on his own experience of building a brand around a social issue, highlighting the need for careful consideration and planning. It took them five years to fully develop and design their brand, illustrating the importance of thoughtful execution for this strategy to be successful.

Throughout the episode, we explore the potential benefits and challenges of building a brand around a social issue, underscoring the necessity of thoughtful execution and understanding the impact on both supporters and opponents.

In this enlightening episode, our speaker emphasizes the vital role of the discovery phase in figuring out your true desires. Without exploring what’s out there, it can be difficult to determine what you truly want. Steve advises anyone uncertain about their aspirations to embrace a discovery phase, allowing them to explore various options without the expectation of committing to all of them.

Steve shares his personal experience of going through a discovery phase during college when he was unsure about his goals.

Additionally, Steven discusses the importance of the immersion phase at the start of your journey. He highlights that it’s hard to navigate your own path and truly understand your desires without immersing yourself in various aspects of your profession. By touching on different areas, you gain a better understanding of what brings you joy and aligns with your goals.

Overall, this episode underscores the significance of going through a discovery phase, trying different things, and giving yourself permission to fail. It’s a journey of exploration and learning, helping you discover what you truly want and which path feels right for you.