Women are hypercompetitive and it is just fitting in today's hypercompetitive world. Which is why Jessica Herrin, the founder and CEO of Stella & Dot, is a self-made woman.
It's a "Wow, you need to know this story!" Moment from Forbes. Herrin has given what every woman wants, in today's modern world. She has set up entrepreneurial opportunities that come with flexible hours and income, but doesn't include the stress of launching a business. How did she do it?
Herrin started out her post-college life with a huge student debt. She had an investment bank job lined up in New York that could pay her bills. But somehow, she wondered if that was her dream job. Out of the blue, she took on an interview at a tech startup in Austin. A few days later, she was offered the job.
All it took was a taxi ride that would eventually decide her future. Sensing that she was troubled, the cab driver looked at her in the rearview mirror and asked her what she's worried about. She told him about how worried she was about suddenly leaving a well-paid job for a startup company that could possibly flop. He responded with: "That's easy. Which job has the best upside? Now, is the upside worth the risk of the worst thing that could happen if you make that choice?"
She realized that the startup did not provide her a well-defined role and the company's future is still unknown. Which is the complete opposite when she was an investment banker analyst. But then she thought that this job could bring more potential. "The cabbie was right - taking the job at the startup became an easy decision. And one that I have never regretted. If I had had kids and a mortgage, I might not have made the same decision," she said.
Now, she focuses on the Stella & Dot brand - a company she founded in her own living room. She has enabled over 50,000 independent women, across 6 countries, to earn over $300 million. They work their own hours and in their own living rooms. Her motto is "Happiness = Success."
Her advice for women? "When you come to a fork in the road, what you factor into your decisions will depend on where you are on your path. But the framework for choosing the path with the maximum upside, as long as it is worth the risk of the downside, still holds up."