We had the good fortune of connecting with Richart Ruddie and we’ve shared our conversation below.
Hi Richart, we’d love to hear about how you approach risk and risk-taking
Risk taking is an essential part of life. I recently finished the book “Thinking in Bets” by famous psychologist and poker player Annie Duke. Life is all about taking calculated risks and understanding if something doesn’t pan out as you had planned that saying “I Should’ve known better” or “How could I have been so dumb” are not neccessarily the correct mindsets on how to deal with risks that do not turn out positive. I’ve been a big risk taker as the ones who don’t take any risk tend not to be successful to the degree that they are happy. Proper mitigation and chances are needed to both start a business and to grow any successful venture. As you get bigger you start to get more targets on your back so it’s important to properly monitor and navigate the waters accordingly. I’ve invested millions of dollars in different ventures and while not all of them have panned out the ones that do have far outweighed the ones that don’t. The key to risks in my opinion is to navigate the waters accordingly, have proper mitigation, don’t take on more risk than you can mentally handle, and don’t put all your eggs into one basket.
Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
I started one of the largest brand and reputation management agencies in the world. We help businesses large and small with any of their digital marketing needs from building up their brand from the ground up, replacing fake news sites and defamation in the search results with positive and truthful branded results, setting up marketing campaigns, and ensuring that customers are happy with their online results. The business was started 10 years and was bootstrapped with less than $500 and turned into a seven figure business in less than a year. It was a lot of grinding and staying home and working through the weekends in the early stages to get there but cutting your teeth and working hard early on right out of college is a recipe for success. There are always challenges and attacks against you, your business, and fake litigation and lawsuits you have to deal with but the key is staying calm and knowing that the scammers trying to bring you down will pass and focusing on your clients and business while ignoring the noise only makes the business grow bigger and stronger. On a much grander scale if you look at the attacks Microsoft & other big tech names endured and while it was a big distraction from their core business they’ve continued to grow to be the biggest companies in the world. If you have a great product and focus on your customers needs you will be successful.
If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
I’m back in South Florida now and it depends on time of year and the local events happening. As an avid art collector I suggest anybody who likes art, great food, and parties to come down to South Florida during Art Basel and indulge in the many great art fairs, DJ events, and for food it’s always going to be a personal preference as no two palates are the same. Some love Popeyes and some love Sushi. If they’re a health conscious eater I love Plant Miami at the Sacred Space in Wynwood, Planta Miami in South Beach, Milo’s for a big group of Mediterranean food, and Lobster Bar with locations in Fort Lauderdale and Miami Beach. Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
Zero to One by Peter Thiel is a fundamental mind shift that is highly recommended. Another entrepreneur that I met on Jet Smater Anthony Archer who was creating and building a line off sustainable future products using Neem suggested books by Peter Diamandis one of which was Bold that discusses the thinking of how you can build great products to help the world and profit at the same time. In today’s world that mentality means more now than ever before. Elon Musk building a sustainable eco friendly car was a pipe dream in 2009 and now it’s one of the worlds biggest companies and continues to grow globally because they put the planet before profits. I’m a risk taker and am exploring options now for my next big venture that can have a positive impact on the world.
Other: Blog: https://richartruddie.typepad.com/entrepreneur/