This week, Dr. Corbin is joined by Russ Seagle, the executive director of the Sequoia Fund, a Community Development Financial Institution (CDFI) that supports small businesses. As an outsider in school, Russ was always thinking of ways to make money and start businesses. After a few failed attempts, he found success with a side hustle that eventually turned into a full-time business. His wife suggested that he apply for the small business center director job at the local community college, where he worked for 12 years, helping hundreds of small businesses avoid the same mistakes he made. Eventually, he ended up at the Sequoia Fund, where he has been for the past 14 years.
During the conversation, Russ emphasizes the importance of not going to predatory lenders for easy money, but rather turning to CDFIs in your community or state. He explains that CDFIs understand where small business owners are coming from and where they're going. Russ and Dr. Corbin also discuss the entrepreneurial mindset, including the importance of looking at assets and being willing to fail fast to make decisions quickly.
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