“Dangerous is about stepping into your power, using it for the good of other people, and sharing it.”
Are you a dangerous podcaster? Perhaps you are. In a world where we are constantly fighting for equality and respect for all, we are still facing the effects of gender socialization. These effects often manifest in the workplace, with men having more opportunities to succeed compared to women.
Editorial director of TEDWomen, and chair of The Sundance Institute Board, Pat Mitchell, speaks about her career, in her book ‘Becoming a Dangerous Woman.” She shares wisdom on how women can control their businesses by understanding the financial opportunities they can potentially provide.
Understanding the financial opportunity of a business is essentially making yourself aware of its potential to make money. Acquiring this knowledge involves learning how to better protect your business and brand. It also means creating strategies to avoid any future financial mishaps.
Here are three things Pat Mitchell learned on the importance of financial literacy through her years as a career woman.
- Could finance be the last frontier of feminism?
When Pat and her team launched the show Woman to Woman in the 80s, she thought they had covered every area that it took to create a show. They had a staff of 80 women, half of which were mothers.
They even had daycare services so the women didn’t have to be apart from their children. As for the show, it was doing great, and women viewers especially loved it.
A big turning point for Pat was when she lost her show because she didn’t understand its financial opportunity. Her team had a group of men who managed the financial aspect of the show, and as Pat tells it, this was a grave mistake. These men anticipated the show’s worth and sold it without Pat and the other women’s consent. They had less than a month to try and refinance the show and get it back on the air.
Unfortunately, Pat and her team had no idea what the financial logistics were. They were also unaware of the opportunities and options that were available for them at the time. This incident forced them to sell their show and give up all of their rights to it.
So how do you make sure something similar doesn’t happen to you?
Pat insists that you know every part of your business. She states that “it is important to feel informed and in charge.” The lesson she learned was that if you ever setup your own business, make sure you arrange the financial aspects. Doing this will ensure that you have more control of its future.
Women need to increase their financial literacy. Financial literacy may be the last frontier of feminism, as women are often less aware of the financial possibilities available for them and those around them.
For podcasters, gaining this knowledge guarantees that their podcast has an opportunity to be a financial success.
- Have someone teach you.
Later in Pat’s career, she was invited to be a member on the board of the Bank of America. It was her first experience as a member of a banking board. However, as a media expert, she felt she did not know anything about banking. The CEO of the bank organized a financial tutor to sit with Pat and go through all the materials she needed to understand.
That was how she learned all she needed to know about banking, finance, and financial opportunity. Pat believes there are many ways for women (and basically anyone) to learn the skills they need to do just about any job.
Women often worry about having a mastery of every single job requirement when applying for jobs. But, according to multiple studies, many men don’t even bother to look at the full list of requirements. That’s because they assume they can learn the skills they need to fulfill the job.
- Learn by Doing.
Women can learn these things too. Pat encourages women to “learn by doing.” For her, this is the risk-taking aspect that makes someone dangerous. It is the ability to push their fear and doubts to the side and tackle the challenges ahead of them.
Make sure you are as hands-on as possible when it comes to your business. As a podcaster, be sure you’re involved in the setting the budget, and are constantly up-to-date with any financial matters relating to your show. The experience might prove to be beneficial in the future.
Do some research on how other podcasts like yours are achieving financial success. Many people share their experiences so that podcasters like you don’t end up making the same mistakes they made. Learn more about how they have taken advantage of their financial opportunities.
The more active you are in as many aspects of your podcast as you can be, the better. Not only will you learn more, but you will also be in control of more. So, take the risk and challenge yourself to do whatever it takes to secure your podcast’s longevity and success. Be. Dangerous.
To learn more about or work with Pat, Click here.