The Two-Minute Mentor: Multimedia Executive

Our sister site, CollegeJournal.com, recently spoke with Carley Roney, co-founder and editor-in-chief of The Knot, a wedding media and services company in New York. Ms. Roney shares her insights into how to launch and grow a new company. Click here to read Carley Roney's Career Path.

• Where did the idea to launch The Knot come from?

When my husband and I were getting ready to graduate from grad school, we didn't have jobs and didn't want to work for someone else. So, we decided that we wanted to do our own thing. The Internet was just starting out at the time, and we felt that it was the perfect opportunity to do something. Thinking through all the possibilities, we realized that there was a lot of money in the wedding industry, especially with the Internet. It is an easy way to connect with and sell products to busy brides. We initially received financing from AOL through a pitch, and the rest is history.

• Many people have business ideas but no clue how to take the next step. What would you suggest?

If you are not independently wealthy or don't have friends with money, you have to find the money. This was our case. To get investors interested, you have to have good research and a business model. It can't just be an inkling. If you have a good business model, potential financers will care less about your lack of experience. So, start with a good model, and then go beat the bushes to find the people that have the right connections to put you in touch with potential investors.

• Your husband David Liu is CEO and co-founder of The Knot. How did you divide up the responsibilities?

We were actually co-CEOs in the beginning, as there was a lot of stuff that needed to be done. I was not sure I could or wanted to continue in that position, given that it requires business and financial skills. Since David is really brilliant in the business world and has a financial background, it made sense for him to continue in this role and for me to take over brand management as editor in chief.

• What experiences in college helped you prepare for the work you do?

Actually, I developed many relevant skills just by having attended film school. In particular, I learned how to produce and pull people together around a new project idea. My suggestion for others would be to get involved in anything that involves teamwork. Sororities and fraternities, involvement in college newspapers, team sports...anything that requires teamwork and good communication skills.

• For students interested in the publishing industry or companies like the Knot, what positions are most valuable in starting out?

You have to get into any kind of opening and be patient. There is no other way to gain experience. You may come in as an editorial assistant, but the promotions will come if you show dedication and that you're willing to be a part of the team. If you really want to get ahead, you need to work hard and compete for every position.

• What is the best thing that you have done to advance your career?

Start my own business. Otherwise, I would not have been able to do what I wanted. In starting this company, I was willing to take risks. And for the things I didn't know, I asked questions.

• How many hours do you typically work per week?

Good question! Since my husband and I work together, work sometimes continues at home like while brushing our teeth (laughs). We work a lot. Probably 70 hours a week. Also, I travel a lot and work on the weekends. But the great thing is that it's work that I like.

• What do you enjoy most about your work?

I love the constant challenges; there is always something new. With The Knot, we started with the web and developed books and magazines. Repacking our vision in different media requires a thrill for learning new things.

• And least?

Leading and managing people have their up and down sides. Sometimes it's very hard to do the right thing for both the company and the individual. For instance, we may have to fire someone, even when it is not the best thing for that individual.

• What advice do you have for college grads just beginning their careers?

Don't be focused on a single path. Surround yourself with experiences to gain a complexity of understanding. The best way to move up through the ranks is to not be afraid to fail. Reach out beyond your comfort zone and don't worry about missteps. Also be open to new experiences or be willing to take on anything thing that comes your way because you never know where that experience may lead you.

If you have an idea and want to launch a company, you must suspend disbelief and quell insecurities. We didn't go to business school. We completely pretended to know what we were doing in the beginning. Sometimes you have to do this. In reality, there are very few career paths where people know the exact path or know what to exactly do in the beginning. As for my last piece of advice, be willing to work hard. I always say: Pay now and play later.