09 Aug S02:E14: Grow, Adapt, Pivot: Rachael Herrscher and the Power of Social Media
Did you know more women own businesses in Salt Lake City than anywhere else? Shattering the ‘Patriarchy and Pioneers’ misconception, Salt Lake City is a gender equal, tech-focused city, dubbed the ‘Silicone Slopes’. This is where TodaysMama.com and SocialBoost.com Founder, Rachael Herrscher, began her entrepreneurial journey at the age of 26. It took two more years for Rachael to raise initial funding for her first publishing firm, but she never gave up. After the housing bubble burst in 2008, the worldwide economy plunged into a tailspin; Rachael was forced to reassess the direction of her company and make the necessary changes to survive. With the print industry in upheaval and the emergence of the social media age, Rachael quickly pivoted her business focus to an online model which has been prospering ever since. Rachael realized when she visited an all-female conference that many women are intimidated by delivering a business pitch to raise funding. Rachael explains that you shouldn’t be afraid to ask for money; most investors are looking to diversify, and are ready to invest. One caveat, be careful not to get married to your original business plan. You must be ready to pivot and switch gears in tandem with the economic climate to survive.
Speaking of pivoting, we turn our attention to a super-secret specialty burger from Westgate Resort’s Edge Steakhouse in beautiful Park City, UT. Chef Wayne has concocted a delicious east-meets-west wagyu burger, broiled to perfection, and topped with truffle aioli, a sous vide lobster tail, béarnaise sauce, black truffle peelings, and caviar on a brioche bun. This burger is sure to make anyone’s mouth water just by thinking about it! As if the burger wasn’t enough, we have a pile of truffle fries with truffle fonduta and house made red pepper ketchup on the side. If you want to sink your teeth into the Edge Burger, you’ll need to order 24 hours in advance. Trust us, it’s well worth the wait. Could your taste buds handle it?
We give Alan a minute to overcome pure burger-ecstasy before getting back into the meat of today’s lesson. Your online presence is just as important as any other aspect of your business and falling behind will punish your profits. You may think that Facebook is the preeminent social platform to connect with your target audience, but it may be the worst! Facebook’s new algorithms are inhibiting views and slowing down account growth. Don’t scramble for ‘likes’; Rachael recommends that business owners curate video content on YouTube, and productize their brand on Amazon.com. That’s not the only game-changing tip in this week’s Business & Burgers. Rachael details how to craft the perfect pitch, obtain like-minded investors, and build your online tribe of influencers. Are you ready to grow, adapt and pivot in today’s connected age? Watch now.
Watch this episode on YouTube: [Link Pending]
Learn more about our guest:
On the menu:
- Edge Steakhouse
- Edge Burger
Tasty quote to chew on:
“If you are locked into your business plan, you will fail because you have to pivot. You have to change. You have to respond with the feedback you’re getting. We put so much value in the business plan that we use to pitch with that it can handicap us.”
Food for thought:
- Find your loyal following and build your social presence from there.
- Don’t be afraid to go out and pitch. Get out there and get your idea funded.
- Don’t be the icemaker. Be ready to adapt and pivot as the world changes.