Peg Reed is a leader in the financial services world, having held several senior executive-level positions in the industry and selling her last business for a whopping $82 million. She’s put her expertise to work at such high-profile companies as GFT/Gain Capital, IBFX and was most recently named Chief Operating Officer at Forex Development Corporation. sheBOOM spoke with Peg to get some insight into the challenges and rewards of running a business at the highest levels.
When did you start your latest venture?
January of 2016.
Why did you start it?
I saw a need in the space that I felt I could occupy by offering my services.
In simple language, what exactly is your business?
It’s a consulting business-to-business space for financial services industries that specializes in trading various asset classes, such as foreign exchange.
Tell us a little bit about what led to this latest business?
A friend of mine, who I’ve known in the industry for some time, met with me and expressed this idea and said I was the perfect person to collaborate with. I was looking for a new challenge and wanted to build something from scratch, so it made sense and fit with my expertise.
If you’re comfortable disclosing, what did you sell your last business for?
What are 3 big pieces of advice for aspiring sheMillionaires?
Stay lean; don’t overbuild before you have capacity to meet demand. Treat the money you’re using as your own — for example, investor capital — and be open to information from those smarter than you. Check your ego at the door.
You mentioned that your husband took care of household duties? Why did you make that decision? How has it helped you as a woman founder?
We both decided that we wanted one parent to be the stay-at-home parent. My personality was a bit too intense and he has more of a general sense of play than I do. We agreed that he would be perfect from the early years through mid-adolescence.
What do you do when you’re not working?
Work is my hobby so that’s a rather difficult question. I would have to say spending time with my family, since I truly enjoy them. I exercise quite a bit and have seven animals, which keep us busy. I also watch tons of sports. I am a real sports enthusiast.
Anything else you’d like to add?
I would just add that you are never too old to take risks. I did it when I started my first internet company with four children and a spouse I supported. Everyone who could understand what I was going to do bought into the vision and we all supported one another, even in difficult times. Remember that it might be raining, but a rainbow will follow, so don’t get too high or too low. Try to stay in the middle.
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