Cyndee Sugra, 30, started her digital design and marketing firm, Studio 7 Media, in the middle of the dot-com crash. Last year, her Los Angeles-based company hit sales of $8 million.
Cyndee Sugra took a chance developing technology that no one else wanted. That leap of faith paved the way for her evolution from indie rock musician to CEO of a tech development and design firm. Now she's singing all the way to the bank. At first glance, Sugra's evolution from indie rock musician -- she spent her late teens as part of Baby Alive, an all-girl rock band signed to an indie label -- to CEO of Studio 7 Media, a 15-employee tech development and design firm, wouldn't seem to make much sense. Especially when you consider that, despite her day job, she's still rocking with her current band, ElectroSonic.
But a closer look at how Sugra developed her business -- from her creative approach to Web design to the risky decision to develop a DVD technology at the request, but not the financial support, of a major movie studio to her ability to perceive the cutting edge in the tech world -- helps it all make a little more sense. Today, Studio 7's 30 clients include 20th Century Fox, Fisher-Price, Nike, and Disney. Perhaps more significantly, revenue went from $1.1 million just two years ago to $8 million in 2008. Plans are under way to double the staff within the next three months.
Here are Sugra's 10 tips for running a risky business:
- Take a chance. The riskiest decision you make can be the most rewarding and gratifying.
- There's no crystal ball. Take big leaps to learn about yourself as an entrepreneur and a decision-maker.
- Once you make a decision, be confident with it and move forward. Don't look back.
- Stop worrying. You can't take risks confidently if you're constantly worrying about the outcome or the future.
- Remember that there are no mistakes. If you fail after taking a risk, the lessons learned are invaluable.
- Ask yourself, what's the worst that can happen?
- Keep stepping out of your comfort zone. The more success you experience through your risk-taking, the more you'll allow yourself to branch out.
- Don't let perfectionism get in the way of taking risks. Accept that as an entrepreneur, learning is never-ending.
- Evaluate what you're really risking. It might not be as scary as you originally thought.
- Don't stress about coming up with that "big idea." Big ideas don't come easily -- a small idea may actually be the big prize.
Don't Miss: More about Sugra's success in "A Rocker Girl's Journey To Tech CEO"
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