Joss Richard

Founder of Margot

Founder and CEO Joss Richard is an Emmy Award winning Producer who was born and raised in Toronto where she worked as a Television Producer before moving to Los Angeles. At the age of 28, Joss has won a Daytime Emmy Award and worked at Netflix, The Ellen DeGeneres Show, and The Walt Disney Company creating digital content and managing their content strategy.

Joss has pivoted to the entrepreneurial world when she realized there was a gap in women’s access to mentorship and that women struggle with asking to be compensated for their time and knowledge.

Where did the idea for Margot come from?

I wish the name for Margot was something sentimental, like my grandmother being a suffragette; however I wanted a woman-identifying name, something that wasn’t too common, and one that wasn’t easily associated with a specific demographic. I made a list of names that I thought were beautiful and I kept coming back to Margot. It clicked and I knew it was the right one.

What does your typical day look like and how do you make it productive?

A typical day is me waking up at 6:30am, walking my dog (I’m lucky that my husband walks her most days), I make a cup of coffee, take a shower, and I’m at my desk by 8:00am. I work two full-time jobs, so prioritizing and managing my calendar is key.

How do you bring ideas to life?

I’m the type of person who has an idea, and immediately takes action. It’s a wonderful trait, but also my biggest flaw. Whatever my ideas are I don’t wait until it’s perfect before I share it with the world. I put it out there, see the reaction, and then work on perfecting it based on the reception.

What’s one trend that excites you?

Women supporting women! It’s not really a “trend” but it’s something that is definitely being more normalized as of lately. I absolutely love seeing this community support each other – especially through social media – a tool that can often be seen as toxic.

What is one habit of yours that makes you more productive as an entrepreneur?

I am constantly building relationships. Finding potential partners and connections through LinkedIn and social media has become my favorite past time. I love scheduling intro-calls and getting to learn more about other people in the industry and hearing their stories. It drives and motivates me to be better.

What advice would you give your younger self?

You are doing amazing. I look back at my younger self and I’m proud of her! I’ve been fortunate to have a wonderful career and that’s luck, but equally hard work. I think every decision I made in my past led me to where I am today. Maybe if I had to tell her one thing I would say jump on the YouTube bandwagon; there’s definitely business potential there!

Tell us something that’s true that almost nobody agrees with you on.

Oreos for breakfast. Always.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

Put yourself out there! I know it’s scary to share an idea when all the kinks aren’t figured out yet; but you have to put your idea out there. I believe that’s the only way an idea can grow and you’ll be surprised at how many people want to support you.

What is one strategy that has helped you grow your business?

Creating an idea that was scalable. When I created Margot it was because there was a gap that needed to be filled. I thought “do people need something like this?” After talking to many women in our early stages, I learned how much Margot resonated with them. Creating something that means something to people makes them want to be a part of it, and share it with their community.

The concept of mentoring is also forever growing and changing. We haven’t officially launched yet but I already have so many plans for how to expand in the next few months.

What is one failure you had as an entrepreneur, and how did you overcome it?

The business side was always a struggle for me. Understanding how to generate revenue, hiring contractors, and registering a business was all new to me. I’m first and foremost a creative person; so the business side of Margot was a huge learning curve. It took a lot of mistakes and being open to taking advice from other entrepreneurs that helped me overcome that challenge.

What is one business idea that you’re willing to give away to our readers?

One of my friends told me that the idea of an ice-cream truck, but with iced-coffee was brilliant. I agree.

What is the best $100 you recently spent? What and why?

Hiring a lawyer to help with our Terms of Use and Privacy Policy. It was more than $100 but it was by far the best decision I made on this journey. If you’re going to put time and effort into a business you need to protect yourself and do it right the first time.

What is one piece of software or a web service that helps you be productive?

Calendly and Quickbooks. I’m constantly playing Tetris with my meetings so being able to have a scheduling tool to help me with that has been a huge asset. I’m also a new business owner so having a tool to keep track of all my expenses is a life-saver.

What is the one book that you recommend our community should read and why?

You Are a Badass” by Jen Sincero. This book has become my bible since I made the leap and moved to Los Angeles 5 years ago. It’s dog eared and falling apart – that’s how much I go back to it. It’s a wonderful motivation for anyone feeling self-doubt, on a personal level or on the business side.

What is your favorite quote?

A dear friend and mentor of mine shared “Where you are now, is not where you’ll be six weeks from now.” I think about this constantly. It helps me get through any challenges and also helps me when I feel too comfortable. It’s a reminder that things are always changing.

Key Learnings:

  • The ability to self-reflect on successes and failures.
  • Being able to brainstorm a new business idea.