703: Liz Wald | How to Be Early to the Next Big Thing

As an entrepreneur, Liz Wald thrives in uncertainty and where change is the norm. Liz is an Executive and Board Director for Good Earth Organics (GEO).
Her career has been focused on building global marketplaces for emerging industries like cannabis and early-stage companies such as GEO. During her career, she has led in the technology category and is even credited with bringing Etsy from $80M to $800M while overseeing global operations. In this episode, we’ll talk about getting good at short-term plans by thriving in uncertainty, building community authentically, and how to capitalize on an emerging industry.
So dive in and let’s talk about how to be early to the next big thing. 

Things you will learn in this episode:
[00:01 - 05:14] Opening Segment 

I introduce today’s guest, Liz Wald

Liz gives us a bit of her background

Liz’s college journey 

Her early career experience

Transitioning into business and eCommerce 

A fascination with uncertainty and innovation

[05:15 - 15:30] Getting Comfortable with the Unknown

Getting on the cutting edge

Generalist vs. specialist 

Getting good at short term strategies 

Liz’s thoughts on the value of long term vs. short term plans

There is value to both but you need to be able to adapt fast 

80% right is close enough 

The value of a household name 

Don’t underestimate the first-mover advantage

A look at Etsy’s growth 

How to authentically build community with your users 

The example of Patagonia - living your values 

A quick word from our sponsors

[15:31 - 28:18] How to Be Early to the Next Big Thing

Liz shares about her work in the Cannabis industry 

The beauty of an emerging industry

Get there early and spread the information 

Get curious to learn ‘enough” about your market

Using your skillset to get into something new 

Look at what you’re good at and plug it in 

Who you know or what you know? 

Knowledge is power, but it speeds up with a great network 

Great people will open up doors for you 

What you know gives you the confidence to go to the who 

Make yourself someone ‘worth knowing’ 

Enthusiasm and generosity are huge in networking 

Don’t just network for your benefit 

What is the next big change? 

New York is finally coming online 

Beverage and consumption lounges for cannabis 


[28:19 - 34:46] Closing Segment 

The RaNDoM RoUnD

How to connect with Liz - links below

Final words 

 
Tweetable Quotes: 
“I think the beginning, the start, and the growth is really around people who are very comfortable with risk and the unknown and kind of thrive in it.” - Liz Wald

“The beautiful thing about an emerging industry is, when you’re early, you only have to be 10 minutes smarter than everyone else.” - Liz Wald
 
“You have to know enough to be confident to go out there, but once you do, those people can make the path so much more open to you in ways that all of your knowledge isn’t going to get you.” - Liz Wald
 
You can connect with Liz on LinkedIn, Twitter, and Instagram. You gotta check out https://goodearthorganics.com/. Use Code: GEO15 to get a 15% Discount on premium soil for all you home-growers out there! Available till 12/25/21.
 
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