Empowering Women Investors: Breaking Barriers & Building Wealth | Stephanie Granato
Jen Porter (00:00)
Hey, Lioness, welcome to the show, Lioness Conversations, where we help women be brave, to lead with confidence and joy, and to find your path to the most meaningful work of your life. I'm your host, Jen Porter, leadership and empowerment coach for ambitious and heart-centered women who are ready to change the world. Joining us today is Stephanie Granato, a powerhouse who has spent two decades guiding founders in tech and media.
and now connects sophisticated investors with innovative alternative assets through Electa Capital. She is passionate about connecting women to opportunities in the alternative investment space. Stephanie, welcome to the show.
Stephanie Granato (00:43)
Thanks, Jen. I am so thrilled to be here having this conversation with you.
Jen Porter (00:48)
Me
too. mean when we connected it just felt like this instant synergy and I was so excited about what you were doing because you were getting ready to do your Tedx talk.
Stephanie Granato (01:01)
Thank you. Yes. It was a really interesting process getting ready for that. I am not a public speaker. I've been an entrepreneur, as you mentioned, for 20 years with the law firm and now through Electo, which recently rebranded to Capital Axon. yeah, doing the TED was a whole new level of just preparing something. What could I say that would resonate that might
Jen Porter (01:16)
Okay.
Stephanie Granato (01:30)
people might want to hear and that would feel authentic. ⁓ So that was, it was quite an experience.
Jen Porter (01:37)
Well, when we first spoke, you and I connected instantly on the ⁓ empowering women and investing in women. And that's the heart of your TEDx talk is why we need more women investors.
Stephanie Granato (01:53)
Absolutely. And that is what motivated me to power through my stress and fear of not being able to do the talk and then get to a presentation that was more conversational, which is what they wanted. for me, having been an investor now, early stage for about 10 years, first through clients in a law firm I own and then branching out,
There aren't a lot of women investing in early stage relative to men and so much wealth is created in that early stage of investing. And I thought, boy, we need to get on that ride and benefit.
Jen Porter (02:35)
You know, I want to
spend some time on the TEDx talk because I think it's such an example of being brave and overcoming that fear. just panic, fear, uncertainty and self-doubt and all the gremlins that can come up. And I would imagine it's like a micro example of what holds women back.
all the time and at that macro level too. let's start with what made you, what was your first thought that you might do a talk?
Stephanie Granato (03:04)
100 %
I mean, my first thought was, no, I don't have the bandwidth to do this. ⁓ You know, I've been ⁓ focusing a lot of my energy on capital axon and the alternative space, but trying to get my law firm ⁓ to a point where it needs less of me. so bandwidth was one. And then it was just like total fear. like, can't do that.
Jen Porter (03:42)
So the thought in your mind was, well, I mean, the excuse was, don't have time, right? Because the truth is we make time for what we want to make time for, right? And we're all full, like life is full, no doubt. It's not like any of us are twiddling our thumbs, but we carve out space for what we're passionate about and what we really want to do. So time ends up being a bit of an excuse, right? But the thought in your head was, I can't do this. Is that true?
Stephanie Granato (03:52)
We do, and I did.
True, Jen. I was just petrified and I thought, well, what can I possibly say that people would want to listen to, you know, to take the time? ⁓ It was really crazy. And actually, I have to give a shout out to my husband because he said, are you crazy? You can do this. Apply.
Jen Porter (04:33)
And
isn't that what we need? I find that, and I don't love this, I just find that this is the truth, is that women need an invitation.
We need to be invited into experiences and we need to be encouraged by others that know us well and can see us in ways that we don't see ourselves yet.
Stephanie Granato (04:45)
I agree.
⁓ 100%. So the cohort at TEDx that I did at TEDx San Diego is a group of women lawyers, eight of us, and it was the first ever legal salon. And one of the instigators was a colleague friend of mine, Rose Bolas, who has a law firm in San Diego. And she said, I'm doing this. Do you have any, you you should really apply. said, nah, I don't have time. And then I said, but I'll help you, you know, if you need help. Right.
You
Jen Porter (05:25)
And
what switched? When did it flip?
Stephanie Granato (05:29)
She's like, you really should apply. It's not that hard. And then I said, nah. And then I told my husband, he's like, you're, you got to apply. Are you crazy?
Jen Porter (05:38)
You have so
much experience, so much knowledge, so much life that you've lived and things you've seen. Of course you have so much to offer. And others saw that. I'm glad your husband encouraged you to do it. So when did you kind of commit to it within yourself?
Stephanie Granato (05:55)
Well, the process is that you apply ⁓ and create, you know, responses to questions that they answer. And then you do an initial ⁓ interview with the curator of TEDx San Diego, who's Audrey Jacobs. And so we had our talk and ⁓ our conversation and you know, she said, you don't have to just talk about the law. You can talk about anything you want. And that is kind of really when a light bulb went on. Because I said, you know what?
there's something that I would like to about women, particularly in the investment space and risk taking.
Jen Porter (06:26)
and work.
Yes, that was definitely a theme throughout this was risk taking. So ⁓ what were what was the main point of your TEDx talk?
Stephanie Granato (06:43)
Well, the main point was, I mean, for me, was risk taking because you really need to take a risk in life or many risks. We're all taking them unconsciously all the time. So take them intentionally with the thought of, this is going to do something positive for me. ⁓ And then the sort of other theme of that was
You know, I've been around the venture space. are a lot of statistics. Women get historically 2 % of venture funding. Venture firms are run by men, et cetera, et cetera. But, you know, we can change all that. If women have more agency than we think, if we act collectively ⁓ and we all work together in this ecosystem, that 2 % will go away. When we fund women founders,
We don't need the permission of male VCs. We're, we're our own permission. So that was a really important point for me to make.
Jen Porter (07:38)
Yeah!
I want to get into that theme a little bit more, but first, ⁓ what was it like to deliver your talk?
Stephanie Granato (07:49)
The delivery actually was was okay. I had tremendous anxiety leading up to I went down to San Diego the day before so I could stay over and we had to be there early if they did hair and makeup and ⁓ but I had practiced so so much Jen. mean, I'm an over preparer so I
you know, I had memorized and I was practicing, practicing, practicing. And, and weirdly as a lawyer, I kind of treated the night before like a bar exam. Like I, I'm like, I'm not going to sit and practice all night. I'm going to read it once and that's it. You know, I'm like, I've done the work and it has to just fall. So
Jen Porter (08:33)
Yeah.
I always say that confidence comes from preparation and practice.
Stephanie Granato (08:41)
You're so right. It really does. It anchors you, it grounds you, gives you something to fall back on. ⁓ I did my talk after lunch. was I had originally, I think I was on the roster to go really early. And I'm like, ⁓ it's great. I can get it over with. I can watch the other women and it'll be so nice. And then because I was local, there were some people coming in from much greater distances across the country.
Jen Porter (08:46)
Mm-hmm.
Stephanie Granato (09:09)
they needed to get flights. And so I ended up going right after lunch and I was like, my gosh, how am I gonna do this? But I had watched a couple of the other women give the talks and it was a little more forgiving than I thought. I was like, you know what, whatever happens, it's really gonna be okay. ⁓ And then I'm not used to the lighting or any of that ⁓ in a studio. So when you get on stage,
Jen Porter (09:33)
Yeah.
Stephanie Granato (09:35)
The lights are so bright. You can't see a lot beyond. It's like a big bubble of light. So it was a little less. Yeah, exactly. Exactly.
Jen Porter (09:43)
different than normal life.
I want to get back to
confidence because I've, know, risk taking and confidence. Like anytime we're taking a risk, particularly one that, that we, when we feel it, you know, it feels like a big risk to us. The nerves and the anxiety show up. Confidence does come from the preparation and the practice. And so it can ground us, but it doesn't eliminate the feelings.
Stephanie Granato (10:11)
Definitely not. I mean, I was doing deep breathing like before I walked, you have to walk out and then turn to the audience. And I just was like, You know, I was doing just deep breathing to just calm down. But yes, that little feeling, I feel it here. I feel it in my gut. You know, I, I do when you said the word feel, I'm like, yes, that perfectly captures it because I
Jen Porter (10:23)
Yeah, calming your body.
I'm
Stephanie Granato (10:39)
felt it, I feel it and I think so many of us do, we feel it, you know.
Jen Porter (10:44)
And
when I think when we as as women, I can't speak for men because I'm not one, but when when we're feeling it, the self doubt starts to creep in because I think in some way we think we shouldn't feel that way. You know, if we were really courageous, if we were really brave, then we wouldn't be feeling this way. But actually it just comes with the territory.
Stephanie Granato (11:07)
I think it comes for me, it definitely comes with the territory. You know, I remember listening to the series of tapes ages ago, and I can't remember the author now feel the fear and do it anyway. Which is something you have to learn to do. It's like a muscle you have to learn for me to exercise. It's like, okay, take one more step one more step towards your edge your edge. How far can you go?
Jen Porter (11:33)
And I think when we do that, when we do brave things over and over, we have a track record that we can look back on and stand firmer on. Like, ⁓ right. No, this feeling is familiar. I have definitely felt this before. It comes like I can expect to feel this way. My heart is racing. My palms are sweaty. My mouth is dry. All the anxiety producing ⁓ body responses.
and to be able to persevere through that. And I love the, I mean, it's such a simple technique, but breathing is so powerful. It can calm our nervous system enough for us to be able to open our mouth and at least, you know, just start speaking.
Stephanie Granato (12:16)
Exactly. You literally can't speak without air in your lungs, so you have to have it in there.
Jen Porter (12:22)
Yeah, I'm so glad you did it. And I'm going to encourage everybody to check it out. It's a fantastic talk. And I'll include the link and everything so people can find it really easily. ⁓
Stephanie Granato (12:34)
Thank
you. really I appreciate that. I appreciate that I am
Jen Porter (12:37)
Yeah, it's
an important message.
Stephanie Granato (12:41)
Well, I really hope women think about how can we shape the future even with small actions, we can have a dramatic, a dramatic impact on the future. If we act and if we act at scale, you know,
Jen Porter (12:57)
Exactly. When
you and I connected, it's been a couple, two or three months since we actually first talked, but it was like you and I intersected at this very specific point where I was getting really interested in women investing in women. And ⁓ what I've actually talked with friends since then about this concept, just, and it's amazing how many other women are thinking about this. And we're thinking about it in,
not in huge ways, right? Like I have all of this money and I just get to choose who I'm going to invest in. It's actually the daily investments that we make in others. Like I invest every day through my work, but also like it doesn't have to be a large amount of money to make an investment. We can make small investments that make a huge difference.
Stephanie Granato (13:44)
That's right.
huge difference and again if we do it at scale if we're all doing that our values and our vision will be expressed through that but yes I mean it's risk-taking you don't have to go all in on everything start
to build up gradually. And that is one of the things I talked about in the TED talk. There are more channels now than there were 10, 20 years ago for women to make small investments in the private market. And certainly if you're not investing in the public markets, there are platforms where you could literally do a dollar a week just to start getting in the mindset of, okay, what's important to me? And how do I express that, you know, and create
Jen Porter (14:31)
Absolutely. Yes.
I'm gonna use
Stephanie Granato (14:37)
Yeah.
Jen Porter (14:38)
an analogy. So years ago, I was in a transition in my life where I'd gone through a divorce and I didn't have a double income and that sort of thing. And so I felt like things were tighter than I wanted them to be. And I stopped investing in my 401k. And once you stop, it's hard to get back into that. It's hard to sort of give up that portion of money.
And a friend of mine said, just start small, just start small because then once you do, you can't say you're not investing in your 401k. You can't say that any longer because even if it's just a small, tiny amount, having like it's an amount you won't really miss. so then building and building from there, it's like proving to yourself you can do it by starting at a really reasonable place and then building from there.
Stephanie Granato (15:17)
Exactly.
Right. I always say to myself, it's like proving that the sky won't fall in on you if you take this one little action. You know.
Jen Porter (15:43)
So true. How
did you get interested in this topic?
Stephanie Granato (15:48)
I, it's something I talk about in the talk. So in my law firm, I start work with a lot of entrepreneurs watching them, you know, helping them launch and scale. And I saw them creating massive wealth. And then I started reading about it. And, know, learning that so much wealth is created in the private market before companies go public. I mean, there are only I think about 30,000 public companies in the US, but there's so many more.
private companies, also small private companies are the backbone of the US economy. thinking about it in different ways opened my mind up and I just, you know, one day I decided, okay, I would start, you know, just start.
Jen Porter (16:34)
And how did you do that? How did you start? Like, where did you start?
Stephanie Granato (16:38)
So I had a lot of clients who would offer me ⁓ equity in their companies ⁓ in exchange for some startup legal. ⁓ as a small firm, my firm had, I think, pretty reasonable pricing. I started in big law where the hourly rates can run up to close to $2,000 and some of the biggest. But when you're an entrepreneur and you don't have cash, cash is really constrained at the beginning.
They would ask for these things and I just at some point I thought well, you know I'm gonna just take a risk on that. So I Did one of those deals. I just said, okay I'll give you XYZ and start-up legal for a certain percentage of your startup company and That was the beginning of me thinking about it
Jen Porter (17:15)
You did it.
Stephanie Granato (17:30)
And then I started to do it a little more. And then I branched out to starting to write small checks. And that was it. That was the beginning. Yeah.
Jen Porter (17:39)
Wow.
And did you get guidance from other people when you were negotiating that first deal of services for equity? Did you have some doubt about how to even structure something like that?
Stephanie Granato (17:46)
Yeah.
But I have been doing deals for a very long time. So I had seen other people do it. And I knew a lot of male attorneys who were doing it and had done it successfully. A couple of them had had huge hits. And then it was like, well, they didn't necessarily need to practice law anymore. But this whole business model of practicing and investing was really working well. I had.
some at least role models to look at and to talk to about how to do it. Yes.
Jen Porter (18:29)
It's so important. mean, you know, stepping into something new, it's helpful to have seen it modeled. And if not, we've got to connect with people who can guide us.
Stephanie Granato (18:39)
Always, I'm always, I mean, I'm always learning from other people, every single person I meet, but definitely intentionally looking to learn more in the spaces I'm interested in.
Jen Porter (18:51)
You've talked about
how we can make a difference, that we can actually change the landscape, change the future.
change what wealth looks like. ⁓ What is your vision? What do you see in the future if we do come together collectively and make these small changes together?
Stephanie Granato (19:15)
You know, I see so many wonderful things happening. And I'll give you an example. A couple weeks ago, I was down in Orange County judging the Survivor competition, which is an entrepreneurs competition. They get up on stage and they pitch. three rounds and 40 go through the first round and they get winnowed down to 10. And then I was one of the judges in that second round and we winnow it down to three. And then
there's a final panel that windows it down to one winner. And it was so interesting. were ⁓ what bubbled to the top were two women who had medical devices that definitely there's a huge market for. And, you know, because we had a diverse panel, I think it really helped them bubble up to the top. But
they were things that are dramatically and urgently needed, I would say, by women in reproductive health. And I was just thrilled to see that. one of these women had invented a device ⁓ for something that hadn't changed in 150 years. So taking something that was painful and making it less painful for women and literally the existing technology or
technology and air quotes was something developed in the Civil War. I think ⁓ it was a device to help insert IUDs. And I guess the current device has these two pointy tips and this one uses something much gentler. It uses suction. And so, you know, it's supposed to be a very painful procedure.
Jen Porter (20:37)
Wow, what was it?
Stephanie Granato (20:55)
And the other one was a LIDAR device for monitoring women in labor so that you didn't have to touch and you could have a much more sort of sanitary hygienic environment. ⁓ I mean, to me that just, you know, says, hey, we can do a lot. If we think about it and...
Jen Porter (21:13)
It just goes to show,
the ideation that can come out of, know, entrepreneurs is just fantastic. There's, and there's never been, there's never been more women. There's never been more entrepreneurs, period. I don't think, ⁓ you know, I think about like, they're probably were entrepreneurs decades ago and then kind of got phased out by big companies. And then, you know, like small mom and pop, so many things.
Stephanie Granato (21:22)
It's fantastic.
I don't think so either.
Mm-hmm.
Jen Porter (21:39)
And now there's so many entrepreneurs who are doing their thing.
Stephanie Granato (21:44)
think there's more pathways to entrepreneurship. think maybe, you know, especially post COVID, ⁓ people wanted to have maybe a little bit more control or they lost their jobs and they just necessity is the mother of invention. moving forward, but I do see a lot more women innovating and that makes me really happy because
There are things that we need as women and that the world needs and that ⁓ are not necessarily being invented.
Jen Porter (22:15)
Yeah,
yeah, exactly. And how do you make decisions now about who and what you invest in?
Stephanie Granato (22:23)
That is a great question. So I don't only invest in women. I invest for return, which is I think if you're going to donate money, give it, find a nonprofit you love and donate it. think if you're going to invest, really think about investing for return. doesn't have to be a hundred X your investment or even 10 X, but it's something that will ultimately have a financial benefit. So I think about that. I think about sectors I'm, I'm interested in women's health is something I'm interested in.
in climate change, but I love technology. I love all of it. ⁓ I invested ⁓ pretty recently in an EdTech company that was a male founder I had been working with. And I just thought this is a great founder has already had four exits. And I'm like, I love what they're doing. And, you know, I saw the potential. that is what, you know, it's just things I see potential in and that I like.
Jen Porter (23:24)
And are you doing this on your own or do you do this through a group?
Stephanie Granato (23:30)
So I do it a couple different ways. some I do on my own, these direct, ⁓ very small angel investments, and then I invest in funds because that is a much less risky way to start. So for example, there's some incredible women led women founded funds that focus on women and diverse teams of founders.
And so I've had the fortune to be able to invest in a couple of those. But there are many ways to do it. There are investment groups. mean, one way to start is just to connect with a group that's doing it and learn from their process. Connect with an angel group and do that. There are organizations that create ⁓ syndicates, so they pool the money.
And you can invest a small amount, but it's pooled with others. So it can be a larger investment in the whole and have more impact. So.
Jen Porter (24:30)
Mm-hmm.
And if there are people that want to just get started or even just learn more about what's out there, where would they start?
Stephanie Granato (24:38)
I mean, literally just Google what's in your area, find an angel group in your area and connect with that and just start reading about it, you know, before you actually write a check or exchange your time for money in for investment or whatever. ⁓ Learn, you know, educate yourself, find other people that you know that have done it. And if you don't know people connect with other people online, there are a lot more resources. So
Jen Porter (24:46)
Yeah.
Yeah. And what kind of questions would you recommend asking for those that have no experience in this and they're just, they're trying to learn, but you know, it's like a website is gonna say all the great things and you think, ⁓ this is all amazing, but you're not, you don't even know to ask those underneath questions. What do you recommend for people?
Stephanie Granato (25:30)
really connect with an angel investor group, even an online one, because they won't be pushing you to make a particular investment. think if something, an organization or person is pushing you to say, you should do X, Y, For me, that's never the right answer. The right answer is, okay, what are the questions just like you said, Jen, and that we need to think about and you know, first think about, okay, how comfortable do I feel with this? What do I know about it? What do I want to learn?
⁓ as a baseline ⁓ and then how do I get started? know, lot of investing ⁓ mostly starts with due diligence. So that means asking questions about the investment. If it's an investment fund, it's like, okay, has the manager had a fund before or is it a first time fund? Has this teamwork together before? ⁓ You know, what track record of success do they have?
what area is the investment? Is it something I feel like I can understand? Like I wouldn't invest in something that I can't understand. Because, know, so, ⁓ for example, women's health is something I understand. ⁓ But there are a lot of technical ⁓ opportunities, you know, high tech opportunities, if you're not well versed in that, you could connect with someone else who is if you find it intriguing.
Jen Porter (26:34)
Yeah.
Thank you.
Stephanie Granato (26:52)
you know, so get the benefit of the brain share of other people.
Jen Porter (26:57)
Yeah, those are great questions. That's really helpful. So what I'm hearing is like, do the due diligence, ask the questions, do the research and find out more and know yourself really well. What are you passionate about? You want to step into something that you're curious about, that you can understand because that's going to bring more joy when you're in the process of seeing how it develops over time, right?
Stephanie Granato (27:23)
Absolutely. ⁓ I'll give you another example. I recently did a small investment in a company that makes everything that's compostable. So it's dishes, it's cups, it's silverware, it's ⁓ trash bags. And I just love what they're doing. ⁓ And it was, I invested through a syndicate. So it was a small investment, but it was fantastic. An amazing women founder.
whose boots strapped it and then raised money and got this product in big chain stores. And I just love it. And I love the idea that these are things that we can all use and that they're not bad for the environment because you can get them composted and they can go back instead of going into a landfill. ⁓ They can go back into the ecosystem and be reusable.
Jen Porter (28:13)
Yeah. Yeah.
And how do you know the expected rate of return? I mean, of course it's a gamble, it's a risk, but what are you looking for as predictors of success when it comes to that rate of return?
Stephanie Granato (28:31)
Yeah.
Well, OK, so I think those are two really different questions. So when I look at due diligence, for me, I do earlier stage. And I look at the team. I look at the market sector. ⁓ Team is really important. Team cohesion is super important. If it's a solo founder, you have to look at and think about how are they going to build an advisory group around them and ⁓ scale, because it's hard for one person to do everything you can't. So at some point, you have to bring in people. ⁓
And then it just depends what stage it is. So early stage investors like to think they're looking for a 10x return, but statistically only two of every 10 companies succeed. there are a lot with the increase in the use of AI. There are a lot of founders and groups trying to of crack the code and improve the success rate. ⁓
with AI and other tech tools. So I'm hearing a lot more about that. I'm involved with a platform called WeGlobal and we've launched the WeScore, which takes in founder data and gives recommendations on how to improve the traction and the success. ⁓ There are other groups out there that are just measuring to try to give you better information about
where to put your money for return, but you can't guarantee it. It's definitely risky.
Jen Porter (30:11)
Right, right. When we first spoke, one of the things that stood out to me is what changed for you when you became a mom, when you were starting a family. Will you talk about that risk and where you were at that stage of life and how you were thinking about your future?
Stephanie Granato (30:21)
Yeah.
Yeah, I mean, so much changed. I knew I wanted to spend time with my daughter and the last law firm I was at, you know, they they claim to have a part time track, but there was only one other woman that had done it. And I would hear the whisperings. It was like, if she has another baby, she's done. And, you know, I kind of kept my pregnancy under wraps for for almost eight months. Nobody knew because
Jen Porter (30:54)
Hmm.
Stephanie Granato (30:57)
I didn't know what that was going to look like. And I knew I wanted to spend time with my daughter. And so ⁓ while I was out on maternity leave, I was just like, I don't know how this is going to work. ⁓
Jen Porter (31:13)
Yeah,
how are you thinking about, so I'm imagining that's a tremendous amount of stress to be carrying, not just carrying the baby and trying to do everything you can to foster her life, but wondering and being fearful about what that meant for your career. That must have been really stressful.
Stephanie Granato (31:21)
Yeah.
I mean, I, it was, but I really just tried to put it aside. I was, I really tried so hard, Jen, to stay in the moment and focus because I didn't want the stress to impact me or the baby physically. That was, that was critical. But, but after she was born, I was having conversations with my husband and he said, you should start your own firm. And I'm like, you know, yeah, right. I don't know how to do that. I don't know how to get clients. It was,
I just literally had no idea. But I did tell a few friends that I was thinking about it because I couldn't see how these two worlds at that point, which was now 21 years ago, could mesh together. just, knowing what I knew, the law firm world and being able to be home in time. I wanted to be home for dinner. I wanted to feed her and give her a bath. you know,
Jen Porter (32:16)
and the two worlds meaning being a mom.
Stephanie Granato (32:27)
have some weekend time to go to the birthday parties and all the things that moms do, right? And all the other things we do that take up time, like, you know, just making sure your child is healthy and educated and you know, all that.
Jen Porter (32:40)
Yeah. And
what was life like at the law firm at that time? Because it sounds like you may have been working evenings and weekends.
Stephanie Granato (32:49)
Well, before I definitely didn't. And I was lucky. I had a really good pregnancy. And so I worked up until the Friday before I gave birth. so it was, but I felt good. I mean, I had no reason to sit at home. I, you know, I wasn't, if I hadn't, you know, probably could have taken some leave, but, I was feeling good and I didn't, I didn't want to sit. ⁓ so, but it was, it was nights, it was weekends as a transactional lawyer, you're on call. So when a deal is happening,
Jen Porter (33:10)
Yeah.
Stephanie Granato (33:18)
You're always on call. And then there was just also a culture of being in the seat all the time. And so they just wanted you in the seat. The senior partners wanted you sitting in the seat doing their work, which is kind of the opposite of being an entrepreneur and bringing in clients and making them happy. Because that's where the return is. And that's really what it came down to. The highest return in the law firms where I was, was going to the Rainmakers.
Jen Porter (33:39)
soon.
Mm-hmm. And so when did you make the decision to do something different?
Stephanie Granato (33:53)
Well, you should ask. So I told a few friends while I was on maternity leave, and then I went back after I had saved up all my vacation. So I had about five months, including the California paid family leave. And then I heard from a friend about a weekend. And she's like, ⁓ you know, there's this client there at a big New York law firm. And I had started in big law in New York.
And it was a widow and my friend said, you know, she's not happy with the representation. He's not serving her interests. He's still serving essentially her deceased husband's interests. so she said, just step into this. And I said, well, okay. So I, that was it. just said,
All right, I can do that deal. I've done those deals before. was a sale of a nice size ⁓ middle market company. It had a lot of real estate. It was a manufacturing brickmaker out in Castaic. And I stepped into the deal. We kept the partner at the New York firm kind of as the face, just not to scare the buyer.
And I gave notice. I, told me about it. I said, all right, fine. And then I gave my firm two weeks notice. And that was that I did a trade for some space ⁓ in Century City where I was then practicing so that I could give a little bit of services and have an office without having to go out of pocket. Cause I really had no idea.
Jen Porter (35:27)
Mm-hmm.
Stephanie Granato (35:29)
And that was it. That was the start. And I said, I got there the first day into this office, it was the office of the person who had referred me the deal. And I said, what do I do? And they said, well, send a retainer agreement and ask for the retainer. And I'm like, I didn't even know how to ask for a gen.
Jen Porter (35:50)
Yeah.
Stephanie Granato (35:51)
I said, how much do I ask for? And that was that.
Jen Porter (35:55)
And I mean,
that's a real question every time we're doing something new. did that person have some guidance for you in that?
Stephanie Granato (35:59)
Right.
She said, ask for $5,000. And I was like, my God, really? That person's going to... And then that was that. You know what? I sent the letter, we got started and I built it from there. It had a lot of ups and downs. ⁓ It took me a long time to really learn how to do, I guess, business development and how to get a steady flow of clients. But I've been pretty successful in that and very, very fortunate. ⁓
Jen Porter (36:08)
Yeah.
Stephanie Granato (36:28)
And then that whole journey kind of led me to seeing ⁓ entrepreneurs and what they were doing and to getting engaged with that.
Jen Porter (36:39)
So what's it been like raising your daughter who's now 21, but what was that like for you making that big change?
Stephanie Granato (36:44)
Yeah, mean,
amazing. It worked so well. know, having the freedom and the flexibility was incredible for me. I mean, it massively exceeded my expectations that I could still have a professional career, make money, and have some flexibility to be a mom, which has been, you know, such a joy and still is a joy. And you're a mom too, right? Are you? You're not? Okay. I didn't know. Okay. Yeah.
Jen Porter (37:09)
I'm not, no, I'm not, no, no.
When I hear entrepreneurs talk about why they stepped into taking the risk of becoming an entrepreneur, it was about the freedom and having ownership of one's schedule.
Stephanie Granato (37:14)
Yeah.
schedule, freedom, the economics were so much better. I couldn't believe it. I was just, because at a law firm, even if you're a partner, they still take an enormous percentage off the top, which they need to, to cover all of the expenses of an organization. as an entrepreneur, you have freedom and you can make
you know, the ability to make decisions as well. It's like, okay, if a client wasn't a fit for me for whatever reason, I could say, you know, ⁓ no, thank you. You know, there's probably someone that could serve you better than I can. And that freedom also has just been tremendous.
Jen Porter (37:57)
Yeah.
you
Yeah,
yeah, there's so much autonomy. Being able to make decisions and pivot, decide to do something differently is just you.
Stephanie Granato (38:21)
It's just right. And it's a learning curve. There's a lot of learning involved. just sometimes you don't know what's working until it hasn't worked for longer than you would like. And you have to then adjust. ⁓ But it is, it is great freedom. ⁓ And my firm really evolved into representing founders, founder teams, launching and scaling. do, you know, it does a lot of other things, but, that was sort of became the sweet spot.
Jen Porter (38:33)
Yeah.
Stephanie Granato (38:50)
which is how it sparked my interest in angel investing.
Jen Porter (38:54)
You know, the work that I'm focused on is helping women clarify their mission. What are they made for? What are they really designed to do in this world? And the missions that I'm most excited about are those that do good in the world, that make an impact. And there are a lot of women that hold their mission inside and it feels impossible because...
You know, a lot of times, know, it's like the corporate shackles, you know, the golden handcuffs that keep us tied. A lot of these women that I work with are the breadwinners for their families. And so it feels, it feels impossible. It's sort of like a pipe dream, right? It's like, wouldn't that be great if I could do that, but I can't. And so it does require the clarity of what's that desire that I really want to step into.
but then overcoming all of those obstacles that show up when we're in the middle of considering a big risk. So what advice would you have for women that are thinking through taking a big risk?
Stephanie Granato (40:07)
I mean, for me, it was start small, really one step at a time, one step forward. It's great to have the vision. then, you know, for me, just grounding myself every day in one step forward, because sometimes it is one step forward, two steps back, believe me, it felt impossible for me too I never thought I could leave the security of having the paycheck of the law firm and ⁓
But it became such, ⁓ I would say, an imperative for me to do it because it was just, it was clashing with another value I had, which was my desire to have some family time and to be able to have freedom. But I get it. I mean, and sometimes in the moment, things aren't possible. You you've got so many different plates spinning or so many pressures. So, you know, things cycle.
Jen Porter (40:46)
Yeah.
Stephanie Granato (41:02)
I think I've found in life. And so you have to sort of think ahead, okay, when I do get that breathing space, what will I do? And how will I do that? But really one step at a time, visioning at first is a good idea. And then thinking about one step.
Jen Porter (41:03)
Mm-hmm.
Yeah.
Yes.
Well, that's it. It's because if we don't have a vision, then we have nothing to move toward. And creating that vision allows us to take, figure out what are the small steps that we can take. And a lot of that is research and exploration and having conversations and just learning more about something and then saying, oh, I, you know, I can take this next step or I'm going to explore this piece.
And it's amazing what happens when we do that. Things open up, we build relationships, we learn something that's life-changing as it relates to our vision.
Stephanie Granato (41:57)
Exactly. I agree 100 % Jen. Conversations, research, sometimes your due diligence really is conversations like the one we're having now. It's like, oh, okay. I don't know anything about podcasting. I really want to know more about that or investing or whatever that is. And just finding people who might have done that before you or getting the feedback.
Jen Porter (42:05)
Yeah.
Stephanie Granato (42:21)
you know, and, and I think for me also just surrounding yourself not with yes people, but with positive people who are like, okay, that might be hard, but there's a way there's a way
Jen Porter (42:22)
Mm-hmm.
very important who we tell our dreams to because whenever I, there are, there are people who are willing to come alongside and help breathe life into your dream and vision. And there are people that it actually triggers them about what they can't do or haven't done or don't are too scared to do. And so that starts to, you know, sort of be toxic for
the dream that you're holding. So we have to be really mindful and discerning about who we're sharing it with.
Stephanie Granato (42:59)
Absolutely.
Right. And you might not know before you share it how that reaction will come back at you. So you have to be prepared for different things. then, you know, if you don't get the reaction you were hoping for, which I would hope for myself would always be support and maybe some insight. ⁓ You know, then keep going. But be
Jen Porter (43:08)
True. True.
Stephanie Granato (43:27)
Be mindful of who you're sharing your dreams with. Think about it before you share your dreams. But your dreams are yours. They're legitimate. You should embrace it.
Jen Porter (43:35)
Yeah,
so two things come to mind. One is how powerful it would be to go to your trusted people and say, I'm gonna share something with you, this is what I'm looking for in sharing this. Because then you set that person up to, okay, I just need you to listen, because I haven't said this to anybody out loud before. I just need you to be supportive of this is something that's inside of me that's growing.
Stephanie Granato (43:49)
So powerful.
Absolutely. If you find a good listener and just reflecting that back to you, like, okay, that's legitimately your dream. ⁓
Jen Porter (44:04)
I'm-
Yeah,
yeah, or maybe the need is I want to share this with you. This feels scary to say out loud. I feel insecure about even disclosing this dream that's inside of me. I'm looking for a next step. Could you help me figure out like what a next step could be? So you're empowering the other person to be able to support you in the right way.
Stephanie Granato (44:36)
I love that the way you put that is just so beautiful. 100%. Yes. Yes.
Jen Porter (44:37)
Right?
The other thing is, find that, so in coaching sessions, a lot of times people are breathing their dream for the first time because it starts to come out when I'm asking questions and then they're like, well, there is this thing. So if I ask somebody, what do you really wanna be doing? if you could, if money wasn't an issue and time wasn't an issue, sort of eliminate all those barriers that tend to show up, what would you love to do?
and it takes a safe environment for them, but I find that there's something there. There's something inside that they just haven't had the courage to breathe before, like meaning say out loud.
Stephanie Granato (45:25)
Or maybe even let bubble up and articulate to themselves, know? Exactly.
Jen Porter (45:28)
has see it for the first time, put words to
it. Yeah. So there's this other thing that's part of your life, which is travel that I'm so curious to hear about because you said that you do house swapping.
Stephanie Granato (45:47)
Yes, my family
and I have been house swapping. I think we've done 44 now. And so we've been to many interesting places. We've swapped with a family in China, which was amazing for a month. We've swapped with Iceland, Italy.
Places in the US, most recently in Sedona. I mean, it's super fun. We've met incredible people too, Jen. I mean, I think that's part of the joy. We swapped two summers ago with a gentleman who'd been restoring his family home in Northern Italy for like 20 years. And then last summer, as he and his sons were on their way ⁓ somewhere else, they were doing a tour around the US, they came and they stopped for lunch. It was such a joy, you know, because we had met them virtually.
And then we got to meet them in person. Yeah.
Jen Porter (46:41)
So
how did you get started with the house swapping? Where did that come from?
Stephanie Granato (46:46)
Yeah, I like a lot of things serendipity. So a friend ⁓
one of my, the mom of one of my daughter's schoolmates said, you know, I think you would really love we had said we wanted to go to England. She was English and her sister was there wanted to come to the US. She said, I think you guys could, you know, really have fun, you could swap houses and and that your houses are similar enough. So you'd both be happy. So that was the start and that was not through a formal platform or anything. So we just
We did that swap. was an amazing summer. spent four weeks in Hampstead, England, which is just a glorious place surrounded by parks. It's a little four story Victorian house. then the English family was here and they got the full on, you know, hot California sun and swimming pool and whatever else you find in LA. And so that was the beginning. then, you know, we started, my husband discovered a couple of platforms where you can
actually sign up and you put pictures of your house and then like you can say, Hey, we really want to go to Thailand this summer. And then things pop up.
Jen Porter (47:49)
Okay.
That's so cool. I've never done that. I'd love to do it.
Stephanie Granato (48:01)
It is a blast, I have to say. And meeting the people is so interesting. So it starts with kind of a, our timeframes and our interests in swapping are here. And then once we've kind of established we're interested, we'll have a virtual call to see their place fully and to just have a conversation. And I just love that part. I absolutely love it.
Jen Porter (48:18)
Yeah.
Stephanie Granato (48:27)
You know, one of the amazing things was we swap with so many people now. And in January, we were very fortunate. were avoided the wildfires in my neighborhood in LA, but we had so many WhatsApps from people we've swapped with all over the world saying, are you guys okay? And you know, how are you doing? yeah, you know, it's. hmm. Yeah.
Jen Porter (48:43)
Wow.
That's beautiful, the relationships that are
formed through those experiences.
Stephanie Granato (48:53)
It really is fun and ⁓ there are places all over the world. So I strongly encourage you to try it.
Jen Porter (49:00)
What are the platforms you'd recommend?
Stephanie Granato (49:02)
So we work through homeexchange. ⁓ There is a membership fee. And then you've got to have a place to exchange. are other sites where some people have second homes, which we don't. And you can always be swapping. But ⁓ one thing I love about it is that people are homeowners, so they're so respectful. We've had incredible experiences, people coming to our place, people
Jen Porter (49:24)
I would think so.
Stephanie Granato (49:30)
you know, us going to other places and it's someone's home. So it's just also fun to step into someone's shoes and experience something very locally through how they're how they're living, you know, we went to Iceland and they have geothermal heating. So it's coming up through the floor of of their place. ⁓ You know, just experiences like that that you would never have here.
Jen Porter (49:33)
Yeah.
Yes.
Stephanie Granato (49:58)
and you would never have staying in a hotel, you know?
Jen Porter (50:02)
Beautiful. I love it. I love the whole thing, the concept.
Stephanie Granato (50:05)
Yeah, yeah, right. Well, we'll chat offline. I'm going to send you a link and I yeah, it's a blast.
Jen Porter (50:10)
Okay.
So as we wrap up, would you love to leave the audience with as they're listening with regards to investing in women and taking risks and all the things that you've learned and are so passionate about?
Stephanie Granato (50:31)
Start with a single step, start thinking about it and you know, take one step today and think about taking one step tomorrow. Really, it's that simple.
Jen Porter (50:40)
And what's the reward? Why would someone be willing to take the risk?
Stephanie Granato (50:47)
Yeah, I mean, the promise of freedom, the prospect of financial returns, which isn't guaranteed. And also just the sense of agency, like, okay, I felt so good when I invested in the compostable company. I was so happy. I'm like, you know, I'm like, you're creating things in the world that you want to see, you're supporting things that you want to see. And that for me is, is really incredible.
Jen Porter (50:57)
Okay.
Yeah.
Yeah, I think of a couple of things. It really does make me feel alive when I'm taking risks, when I'm living more fully than just staying comfortable or hiding behind comfort. And also just how meaningful it is. It's so like...
Stephanie Granato (51:30)
Absolutely. Yep.
Jen Porter (51:38)
I talked recently about the cycle of generosity where we're always giving of what we do have and receiving of what we don't from others. And it's the cycle that happens when we're always giving out of our abundance and then receiving in those places that we don't have, but somebody else has that abundance. And I think about how truly rewarding that is, how meaningful it is when we're living that way. and to, we're, I mean, people love
the reward of giving, right? It does something intrinsically inside of us that feels good.
Stephanie Granato (52:10)
So and again, yeah.
It feels really good. again, I totally I invest for return. I think giving to nonprofits is amazing. But that sense of just taking a risk kind of gives for me, it just gives me like a pop of energy. You know, it's exciting. It's like, ⁓ I did something I wasn't sure I could actually do that. You know.
Jen Porter (52:30)
Mm-hmm.
making a difference and I love that we can start small and it really does matter to the people that are receiving that investment. Because it's not just it is not just a monetary investment, it's the belief.
Stephanie Granato (52:38)
Mm-hmm.
All of it, all of it. It's the belief, it's the support and you know, it's a creative act and I love that. It's just the, you know, it's creative, you know.
Jen Porter (52:52)
Somebody believes in me.
Yes.
It is creative. Yeah, and I can tell that you've lived your life that way, especially in your in your work. ⁓ But and also the way that you've created opportunities for yourself and even like that the house swapping I think is really creative.
Stephanie Granato (53:20)
Well, thanks, Jen. I really hope you get to try that. ⁓ Absolutely. Yeah.
Jen Porter (53:25)
Well, I
want everybody to check out your TEDx talk. It's called Why We Need More Women Investors and look up Stephanie Granato. I'll also include the link in the show notes so everybody can find it. But it's really good. Share it with all the women that you know and let's create a movement. Let's change the landscape together.
Stephanie Granato (53:48)
Together we are the movement. So yes.
Jen Porter (53:52)
Yes.
Yes. I love that. Thanks for being here, Stephanie.
Stephanie Granato (53:56)
Jen, thank you so much. This has been a wonderful conversation and I'm just so thrilled to be able to be here.
Jen Porter (54:04)
Thank you. In the meantime, until the next episode, the lioness in me sees the lioness in you.
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