Podcast Summary: "Being Fearless" with Erin Simone on From the Ground Up

From the Ground Up, hosted by Inc. Magazine’s Diana Ransom and Christine Lagorio-Chafkin, dives deep into the journeys of successful founders, uncovering the grit, audacity, and community essential for building and sustaining a business. In the April 7, 2025 episode titled "Being Fearless", the hosts engage in a candid conversation with Erin Simone, the visionary founder behind the Fearless Fund, Fearless Foundation, and Fearless Magazine. This episode explores Erin's fearless approach to entrepreneurship, her personal background, the challenges she has faced, and her optimistic outlook for the future of diversity in venture capital.

Introduction to Erin Simone

The episode opens with Diana and Christine introducing Erin Simone, highlighting her multifaceted roles and recent accolades. Erin is celebrated for her unwavering commitment to supporting diverse, female-founded businesses through her ventures—the Fearless Fund and Fearless Foundation. Diana remarks, “She literally had to be fearless to get through this. It's not just branding” (02:28).

Embracing Fearlessness in Leadership

Erin Simone discusses her personal experiences with fear and how embracing discomfort has been pivotal in her growth. Reflecting on her aversion to public speaking, she shares:

“I do things all the time that make me scared about, but I do them anyway... teaching this class that I've been teaching for four years... It gives me some sort of anxiety about it.” (00:05, 00:22)

Diana concurs, emphasizing that pushing oneself beyond comfort zones is essential for personal and professional development:

“I feel like that act of being uncomfortable and making yourself uncomfortable is how you grow, right?” (00:35)

Building the Fearless Fund and Overcoming Legal Challenges

Erin delves into the origins of the Fearless Fund, tracing back to her early experiences running a fashion boutique in Tallahassee. The lack of capital access inspired her to create a venture capital firm focused on empowering underrepresented entrepreneurs. She recounts a pivotal moment in 2017 when she decided to fully commit to venture capital after pitching to Gary Vaynerchuk and realizing the potential impact she could have.

However, Erin’s journey hasn't been without obstacles. The Fearless Foundation faced a significant lawsuit approximately 13 months prior to the episode's release, bringing intense scrutiny and drama. Erin explains:

“We were the inaugural defendants of the anti-DEI war... the preliminary injunction was for a grant program that actually was at its conclusion... we have victory in this space.” (10:56, 12:20)

She elaborates on the lawsuit's implications, highlighting the broader impact it could have on diversity, equity, and inclusion (DEI) initiatives nationwide. The settlement was a crucial win, preventing detrimental case law that could have severely restricted funding for marginalized groups.

Personal Background and Influences

Erin shares her deep-rooted connections to Detroit and her formative years spent with Rosa Parks, who was a grandmother figure to her family. This unique upbringing imparted valuable lessons about giving and receiving, fostering a mindset of generosity and resilience. Erin reflects:

“She talked to me about giving and receiving and that basically you will always receive more from what you gave...” (07:44)

Her father’s philosophy of nurturing leaders also profoundly influenced her approach to leadership and community building.

Advocacy and Future Plans

Despite the challenges, Erin remains steadfast in her mission to drive economic justice and policy change. She emphasizes the necessity of advocacy, stating:

“What's in my heart is to drive the impact and change to make this world a better place... We need more fearless funds.” (24:19, 25:07)

Erin outlines her plans to establish a think tank that brings together diverse perspectives to create equitable funding solutions. She envisions a collaborative approach that transcends political divides, inspired by stories like that of Ann Atwater and her transformative work with a former Ku Klux Klan member.

Expanding Global Impact

The Fearless Fund's investment strategy includes a significant allocation to international markets, with 20% designated for global ventures. Erin highlights the investment in Zimmy, an e-commerce platform likened to the "Amazon of Africa," addressing logistical challenges in emerging markets:

“When they pitched it, I was like, I know this problem and I know it well... We've got something good here going on.” (15:55, 16:33)

Her recent coronation as the Queen of Dawa in Côte d'Ivoire underscores her active engagement and recognition in global communities, further emphasizing her commitment to international development.

Overcoming Imposter Syndrome and Embracing Faith

When discussing fearlessness, Erin dismisses the concept of imposter syndrome, attributing her confidence to her faith, upbringing, and the resilient spirit cultivated in Detroit. She emphasizes:

“I have been given permission through birth to just take up space.” (31:47)

Her Christian faith and affirming environments throughout her life have fortified her fearless approach, allowing her to lead with authenticity and purpose.

Conclusion: A Call to Fearless Entrepreneurship

As the episode concludes, Diana and Christine reflect on Erin's inspiring journey, reinforcing the episode's central theme of fearlessness in entrepreneurship. Erin's story serves as a powerful testament to overcoming adversity, advocating for equitable funding, and fostering a community that supports diverse founders.

The hosts encourage listeners to embody Erin's fearless spirit, especially when facing uncertainty and challenges in their entrepreneurial endeavors. They close with a heartfelt reminder:

“Channel your inner Erin Simone, and stay positive, stay fearless.” (33:57)

Notable Quotes

• Erin Simone (00:05): “I do things all the time that make me scared about, but I do them anyway... teaching this class that I've been teaching for four years... It gives me some sort of anxiety about it.”

• Diana Ransom (00:35): “I feel like that act of being uncomfortable and making yourself uncomfortable is how you grow, right?”

• Erin Simone (07:44): “She talked to me about giving and receiving and that basically you will always receive more from what you gave...”

• Erin Simone (25:07): “What's in my heart is to drive the impact and change to make this world a better place... We need more fearless funds.”

• Erin Simone (31:47): “I have been given permission through birth to just take up space.”

Final Thoughts

Erin Simone's unwavering fearlessness, rooted in personal experiences and a deep-seated commitment to empowering others, offers invaluable insights for entrepreneurs navigating the tumultuous landscape of business. Her dedication to fostering diversity in venture capital and her proactive stance in advocacy highlight the critical role that fearless leadership plays in creating a more equitable and inclusive entrepreneurial ecosystem.

For those inspired by Erin's journey, From the Ground Up provides a blueprint for embracing fear, overcoming obstacles, and making impactful changes in the world of entrepreneurship.