Betting on Yourself & Creating a Billion Dollar Company with Liz Elting, Co-Founder of TransPerfect

Liz Elting is a self-made businesswoman, entrepreneur, and
philanthropist. She co-founded and was the co-CEO of
TransPerfect, the world’s largest provider of language and
business solutions valued at over a billion dollars.


As someone with a passion for languages and business, Liz wasn’t
always sure about the path she was going to take. When she
decided to follow her interests and study languages, Liz was
stimulated but knew that it didn’t make practical sense for her
career. After her first job at a translation company and a stint
in Wall Street, Liz realized that if she was going to live up to
her potential, she had to strike out on her own. This led her to
build TransPerfect out of her business school dorm room at the
age of 26. 


After 25 years at the helm, Liz helped build TransPerfect into an
organization with more than $700 million in revenue, 5,000
employees, and 11,000 clients - all without any outside funding.
In 2018, Liz left the company to pursue philanthropy work through
the Elizabeth Elting Foundation, which advances economic, social,
and political equality for women and marginalized
people.  


Liz has appeared on Forbes’ Richest Self-Made Women for five
years in a row and has been recognized for her efforts and
achievements by the National Organization of Women, Forbes,
American Express, Entrepreneur, and more. 


In this episode, you’ll hear Liz’s insights into all the hard
work and sacrifice it took to build her company, the power of
setting goals and taking action, and the role that partnerships
play in your success.


In this episode, we'll talk to Liz about: 


* The story of Liz’s youth and the experience of living in five
countries by the time she was 21. [3:01]


* Liz’s early interest in business and what she attributes her
work ethic to. [4:02]


* How Liz decided what to study at college and the tension
between passion and pragmatism. [6:19]


* Details about Liz’s first job after graduation which merged her
love of languages and business. [8:17]  


* What motivated Liz to leave her job and go back to school to do
her MBA. [10:53]


* How Liz overcame guilt and found the confidence to leave her
job in Finance. [14:27]


* Hear Liz’s approach to goal-setting and why she believes it is
so important. [17:45]


* Key takeaways for starting, building, and scaling an entirely
self-funded business. [20:34]


* How Liz and her partner thought about business profitability.
[23:41]


* Some advantages of not getting outside funding, according to
Liz. [24:27]


* Challenging times in the early days of starting TransPerfect
and the lessons Liz learned. [25:24]


* Liz’s advice on handling partnerships and the story of her
relationship with her partner. [27:57]


* How Liz views 50/50 partnerships and why she recommends
avoiding this structure. [30:35]


* Liz’s experience being a working mother and the benefits of
compartmentalization. [32:05]


* Why Liz believes becoming a mother made her a better boss.
[35:03]


* Transitioning out of the company: What life is like for Liz
since leaving TransPerfect. [36:20]


* The common mistakes Liz sees entrepreneurs making. [38:01]


Follow Liz:


* Personal Instagram: https://www.instagram.com/lizelting/ 


* Website: https://www.lizelting.com/ 


* Elizabeth Elting Foundation Website:
https://www.elizabetheltingfoundation.org/ 


* TransPerfect Website: https://www.transperfect.com/ 


Follow Yasmin:


* Instagram: https://www.instagram.com/yasminknouri/


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