Masters of Scale
Jul 1, 2019

Entrepreneurship as a Second Act with Gwyneth Paltrow

Summary

Despite Gwyneth Paltrow being far from a “normal” place when she switched to entrepreneurship, this episode of Masters of Scale is worth a listen if you’re unsure about starting your own thing. Especially if it’s coming later in life after a different career path.

When I say far from normal, not everyone can call up Bob Iger to pick his brains 😂

“So I said, I wonder if I could get Bob Iger on the phone. He’s also been very generous, when I can squeeze him for an hour or 15 minutes here and there. I think you just have to be scrappy, and try.

3 lessons…

Lot’s of good stuff in this one but here’s 3 that resonated with me:

  • Don’t wait for permission, just start. You won’t know 100% of what you’re doing when you start – that’s just the way it is. You won’t figure it out by not starting so do it anyway. Very Seth Godin.
  • Ask for help. Goes hand in hand with the above – you don’t know everything. Seek guidance from others who’ve done the things you want to do.
  • Experiment with everything and then double down on what works. Not only for product but all aspects of your marketing and operations.

Would-be entrepreneurs, this one's for you. It’s never too late to join the entrepreneurial party. We've all heard the stories of young geniuses, but plenty of influential entrepreneurs founded companies in their 30s, 40s, 50s. There’s value to being a late-stage founder -- like the fact that you’re bringing along all your life experience. That’s what Gwyneth Paltrow did when she launched Goop. Paltrow transitioned from Hollywood star to startup founder with her lifestyle brand, which now has over 8 million subscribers -- and she did it by leaning in to what she knew, embracing what she didn’t, and coming up with strategies to fill the gap. With cameo appearances by Sara Blakely (Spanx), Brian Chesky (Airbnb), Boyd Martin (Olympic horse rider), and Ruben Harris (Career Karma).