The Lucky Biz Podcast Episode 7: How to Overcome Ignorance Debt as a Small Business Owner
Your fave digital design duo are back for another episode of The Lucky Biz Podcast – the small business podcast created especially for the brightest babes in business.
In this episode we’ll be dissecting the term ‘ignorance debt’ and what we can all do to avoid getting in over our heads in it. This may sound like a negative topic, but it’s actually a fantastic way to assess your own strengths and whether or not a task is worth your precious time. We can’t all know everything, but as entrepreneurs, tasks often arise that have zero relevance to our areas of expertise. So what do we do when faced with a task we know nothing about?
Watch ‘How to Overcome Ignorance Debt as a Small Business Owner’ on Youtube
Listen to ‘How to Overcome Ignorance Debt as a Small Business Owner’ on Spotify
In this podcast episode, Naomi & Louise get stuck into lively conversation covering a range of topics. We chat about our recent experiences, movies we enjoy, and then delve into the intriguing concept of "ignorance debt" in the context of business.
Our Exciting Brand Photo Shoot
We start the podcast episode by sharing our excitement about a recent photo shoot we did. The shoot was filled with laughter and fun moments as we couldn't resist poking fun at each other and having tonnes of fun.
We define ignorance debt as the financial loss that can occur in a business due to not having crucial knowledge or skills.
For instance, we talk about the significance of SEO and social media management. We go on to discuss how investing in learning these skills can be a smarter move compared to consistently paying for services.
During our conversation, we emphasize the value of being a beginner and embracing the learning process. We share personal anecdotes about our own experiences and the benefits of gaining skills that can be used in the long run. We also touch upon the idea that seeking guidance from a supportive community can help ease the fear of not knowing everything.
We take a moment to appreciate the positive growth of the female business community, noting the valuable insights and interactions we've gained from events and networking.
We stress the importance of not letting the fear of not knowing everything hold you back and encourage finding enjoyable ways to learn and grow in your business journey.
