Susan Koger: Visualize Worst-Case Scenarios

This content was created by GHION.AI . This content was uploaded by GHION.AI . This is a YouTube video titled "Susan Koger: Visualize Worst-Case Scenarios" created on June 10, 2015. It features Susan Koger discussing her entrepreneurial journey with Modcloth, reflecting on the early days of her business, and offering advice on making big decisions by visualizing worst-case scenarios.
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And we launched in January of 2003, and we actually had a sale on our very first day. It was not someone I was related to or someone that I knew, which was very exciting. It kind of felt like magic. And I think, like, that was. So if like going into those thrift stores and seeing those products and seeing opportunity was the seed, like, that was like the moment when I, like, I feel like I became an entrepreneur. Like, I was just like, wow, this is really cool. Like, I can go out and find this stuff and I can do all these things that I really like to do and like, people will pay me for it. Like, that's pretty awesome. And if I could, like, I was like just getting started in my college career and I was just thinking about, you know, the things, what I wanted to be as an adult and the things I wanted to study and the things I wanted to do. And I kind of had this inkling of like, wow, if I could do my own thing, that would be pretty special. That would be pretty amazing. So I ran the business part time while I was at school. I continued to sell one of a kind vintage. And it grew. It was like kind of fits and starts. Some months it was really slow. We'd only have a handful of orders. I was doing whatever I could. I ended up being a double major. I double majored in business and in German. So I. So I had a pretty rigorous course load as well. But on spring break, winter break, summers, whenever I could, whenever I wasn't doing other stuff that normal college kids do, I just kept coming back to this. I loved it and I was getting better at it and that was a really good feeling. And so when I was Approaching Graduation in 2006, my junior, my senior year, I was. I really started thinking about Modcloth as a legitimate career option. And it was a scary decision to have to make. And one of the things that I intuitively did that I would recommend to all of you guys, and it's been something that's been really powerful in my life, is when you're making big decisions like this, and maybe it's obvious and you guys already do this, but if you're making big decisions, sit down and really think about what are the worst case scenarios and write them down and get them out there and you won't get them 100% right, but get comfortable with those and then you can go ahead and make your decision. That's always helped me. And this was definitely what I was doing at this time in my life. I was thinking about, wow, if this doesn't work, I'm going to be behind my peers. I haven't gotten. I was making these decisions of do I spend the summer working on the business or do I try to get an internship? Where do I devote my time? That's like the eternal question for, I mean everyone, but particularly for entrepreneurs. Where do I devote my time? That question will never go away. But I sat down and I said, okay, if I don't get a job, maybe people will look at me and say, wow, what was she doing? She didn't get a job right out of college. It's all these things. Maybe I won't be able to pay my student loans. Worst case scenario, maybe I will go bankrupt. I'm young, I don't have a family. That's okay. I put that all out there and really thought about it and it's scary, but at least you know what you're scared of versus just being afraid of the unknown.
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