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Is Upstate New York the New Silicon Beach? 3 Founders on How Moving From the City to the Country Benefited Their Biz

Entrepreneurs are flocking to this incubator haven.

Upstate New York has always been a haven for creatives, and when COVID hit in 2020, many founders relocated from New York City to upstate out of necessity, desire, or both. Below are profiles of three entrepreneurs—Trinity Mouzon Wofford, the founder of Golde, Eliza Blank, the founder The Sill, and Hillary France, the founder of The Wylde—who made the move from the city to the country last year. Read on to discover how the change impacted these founders and their businesses.

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Trinity Mouzon Wofford, Founder of Golde

Saratoga Springs, New York

During the summer of 2020, when COVID was surging, Trinity and her fiancé Issey, the cofounder of Golde, spent the summer in Saratoga Springs to gain some relief and safety from the intense situation in N.Y.C. They were going back and forth from Saratoga to Brooklyn, a three-and-a-half-hour ride each way, when Trinity had the realization that, for the time being, it made sense to return full-time to upstate New York to live and run their business. 

On one ride down from Saratoga during late summer, she remembers thinking to herself that she needed to go back; that perhaps running her superfood health and beauty startup, Golde, and paying rent in Brooklyn for too little space was not benefiting the growth of her business nor her own personal growth. On top of these challenges, Trinity and Issey are in an interracial relationship and, in the city, tensions were becoming palpable during the summer of 2020 in response to the BLM movement and the upcoming election. In a way, she felt as though the systems of the city were starting to fail her and she needed to actively change her surroundings for the benefit of herself, her family, and her business. 

Trinity grew up in Saratoga Springs. In fact, four generations of Trinity’s family have lived in the same house that she returned to, where her mother still lives. Returning to the house that her ancestors had lived in for generations felt very natural and provided a safe space to gain a fresh perspective. It’s allowed her to go deeper into outlets such as gardening and plant care, which, in her own words, have allowed for more creativity. Not surprisingly Golde has benefited from this positive energy and change.

During this past year, Golde has been lucky. The business hasn’t been negatively affected, and has, in fact, thrived. In January, Golde launched in Target, and one of the brand’s two new products scheduled for release in 2021, Shroom Shield, has launched. The team has always been remote so no adjustments were needed in order to keep the business running smoothly. The lack of pressure to be everywhere and do everything, something that anyone who lives in a big city can relate to, has allowed her to realize that she can’t predict the future. She can only think a few steps ahead, and for the first time, she is living in the moment and is fully enjoying it and the lack of pressure this brings. 

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Eliza Blank, Founder The Sill 

Stone Ridge, New York

It’s a similar story for Eliza. Coincidentally, both she and her husband Steve grew up in more rural areas of Massachusetts, so the desire to feel the grass under their feet has always been there. She found herself at NYU for university, and although she loved the city, she always missed nature. It’s this love of nature that inspired her to start The Sill, an online plant nursery that delivers botanicals right to your doorstep. It also inspired her to buy her first home in Stone Ridge, situated in the Catskills, in 2015.

The paths to starting The Sill—as well as finding a house in upstate New York—were not straightforward ones. Eliza found raising money for The Sill to be challenging. Venture capitalists often want fast growth at all costs, and Eliza was committed to making sure her foundational economics worked, which, for her, meant slower growth with her eye on profitability from day one. After an arduous raise, she is confident they found the right investors for The Sill, and these investors have been by her side navigating the most difficult year yet. As was the case for most businesses, March 2020 was a very dark time. All five of The Sill’s stores were closed and the distribution center in California was forced to shut down. The bright spot is that sales didn’t suffer. As it turns out, people look to plants for emotional support, and since people could not be together, they found connection in giving small gifts of kindness in the form of plants to each other. 

In 2015, when buying their house upstate, Eliza realized that their mortgage would be less expensive than their rent in the city. Little did they know that five years later this house would become their permanent residence, sanctuary, and office for over a year. The past 18 months have led her to question if the social convention of the office is necessary. Does the team even need a five-day workweek? Eliza has started to hire permanently remote team members as far away as Hawaii and the business’s headquarters are now fully remote. For Eliza, she firmly believes that the space and closeness to nature their home provided them mitigated the extreme pressure and stress she experienced during COVID as a leader and also as an Asian American woman. Her home upstate became an oasis from what the world had become, or perhaps further revealed, that we live during a time of extreme unrest and racism.  

When asked what’s next for her and her business, Eliza responds that she wants to live a life well-lived. She wants her two-and-a-half-year-old daughter to have the space to play and become independent. For the business, she wants to further realize the broad ways in which nature can be infused into our homes and what the brand essence of The Sill is, and how it can evolve to fit into this new space that we have all found ourselves living in. For Eliza’s family, they will go back to the city for a year in the fall and see how it feels. For right now, the country has allowed her to have creative breakthroughs and reimagine how The Sill can further help us maintain our well-being within our home as we spend more time there than ever before. 

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Hillary France, Founder of The Wylde

Hudson, New York

Hillary had always thought she would make the gradual move from spending weekends in Hudson, New York to living there full time. What she could not have predicted was that this move would happen as abruptly as it did in March 2020. For seven years, through her company Brand Assembly, Hillary had been running trade events for some of the most enviable fashion brands. Her business had been thriving, and then, within the first month of COVID, the Brand Assembly’s trade show business was almost obliterated. 

She saw an 80% drop in activity and she soon found herself in the position of having to reimagine her whole business model. She immediately gave up her office, attempted to pivot but was unable to make it work, and slowly drained her resources. She had to accept that perhaps this almost fully offline and in-person event business was not an operation that could survive a pandemic. Not surprisingly, for the last year, her trade show business has been on hiatus (and the good news is that they are set to return in October of 2021), however, the backend operations piece called The Faculty is still fully functioning. This situation could have fully devastated Hillary, but instead, it pushed her to finally pursue a dream she had always had: to create a space for brands and community to convene in one place in Hudson. At that point, she had nothing to lose so she packed her bags, gave up her N.Y.C. apartment, and moved to her weekend house in Hudson to create what is now called The Wylde.

Hillary had spent nine years going back and forth to Hudson and saw an opportunity for a retail annex in this quickly growing city. In fact, Hudson was recently ranked the #1 metro area in terms of the biggest change in net migration. With the influx of people to the area, she figured there was more of an opportunity than ever to create a space where people could feel a sense of community and continue to be inspired by fashion and conversation. On April 17, 2021, Hillary launched the Wylde’s first outdoor market Summer Saturdays with a selection of handpicked vendors across apparel, accessories, vintage, and apothecary. Local N.Y. brands like M.Patmos, Hudson Hemp, and Lail Design are featured within the market while the permanent retail store that opened on April 30th launched brands like Rachel Comey, Dôen, Mondo Mondo, and more.

Is The Wylde solely an upstate dream? In Hillary’s mind, it’s not. When taking the Amtrak train down to the city she has daydreams of opening The Wylde up in another emerging market if she finds success in Hudson. Rather than feeling consumed by the fashion space she feels excited about how fashion, culture and even coffee (a Wylde cafe is slated to open in August 2021) can bring people together to create community and meaning. This evolution of the business more truly reflects the changes she has felt personally this past year and the community that she had always sought to be a more permanent member of. 

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Melissa Grillo Aruz, Founder of Aruz Ventures

About the author: Melissa Grillo Aruz has been an active part of the New York startup ecosystem for the past 20 years having senior roles at Forerunner Ventures, Gilt Groupe, and more. She currently runs her own marketing and talent consulting business under www.aruzventures.net where she helps commerce companies scale their business. She currently splits her time between upstate New York and Brooklyn. Instagram and Twitter @melgrilloaruz.

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These Founders Are Bringing Fair Labor Practices, Artisanal Jobs, and Economic Development to Tunisia

Alia Mahmoud and Lamia Hatira are investing in their “tiny but mighty Mediterranean country.”

You asked for more content around business finances, so we’re delivering. Welcome to Money Matters where we give you an inside look at the pocketbooks of CEOs and entrepreneurs. In this series, you’ll learn what successful women in business spend on office spaces and employee salaries, how they knew it was time to hire someone to manage their finances, and their best advice for talking about money.

Photo: Courtesy of Fouta Harissa

Photo: Courtesy of Fouta Harissa

When Alia Mahmoud and Lamia Hatira met, they felt an immediate kinship. “We each have a Tunisian father and an American mother and our lives were sort of mirror images,” says Mahmoud. “Lamia was born and raised in Tunis and spent time in Seattle growing up, while I grew up in New York City and spent summers in Mahdia, Tunisia,” she elaborates. Although both women live abroad today—Mahmoud in Miami and Hatira in São Paulo—their families still live in Tunisia, and the textile brand Mahmoud and Hatira founded, Fouta Harissa, is their way of investing in their “tiny but mighty Mediterranean country,” Mahmoud tells Create & Cultivate. But they’re not just investing capital, they’re investing in fair labor practices for the country’s artisanal community.

By working with Tunisian artisans to craft high-quality, hand-loomed textiles, the brand is dedicated to preserving artisanal weaving in Tunisia while also contributing to the country’s economic development. “Unfortunately, Tunisian artisans are generally undervalued and underpaid as the custodians of our cultural heritage,” explains Mahmoud. “We want to change that by bringing the world a modern take on handmade artisanal products that also support fair labor practices, use sustainably sourced materials, and contribute to economic development in Tunisia,” she notes. Not only that but each of the artisans they work with is employed in a full-time position at the brand’s partner workshop and paid an above-market rate that exceeds the living wage.

Ahead, Create & Cultivate asks the co-founders all about how they self-funded the socially-driven brand, why they recommend hiring an accountant ASAP, and what money mistake has taught them the biggest lesson.

How did you fund Fouta Harissa? What were the challenges and what would you change? Would you recommend your route to other entrepreneurs? 

Lamia Hatira: We started with a small friends-and-family investment of $20,000 which helped us start our entities in both Brazil and the U.S.A. We are definitely still working on a small budget. It’s challenging because you don’t have the resources to do everything you want to do right off the bat, but it’s also kind of wonderful because you learn what really matters for your business and how to make the most of what you have. 

Each experience is definitely unique, but if you have an opportunity to get seed investment from friends and family at the initial stages, embrace it. Just make sure you’re on the same page with your investors about how active a role they will play and get in writing in your operating agreement.

The most important thing is to do what you’re comfortable with. We knew we weren’t ready to take out a huge loan or ask for a larger amount at the beginning because we didn’t want to owe anyone money or give away too much equity before we knew more about the intricacies of our business.

Three years later, we are now ready to take on more investment because of everything we’ve learned and because we know what works and doesn't work for Fouta Harissa at this stage. 

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What was your first big expense as business owners and how should small business owners prepare for that now?

Alia: Legal fees to register our business and write an operating agreement, as well as placing our first major product orders with our manufacturer were definitely our first big expenses. I would advise taking the time to build a business plan in order to price out these early costs to the best of your ability, from there figure out where that money is coming from. A great way to generate some early cash flow is to do a friends-and-family sale before your product launches officially. This can help you raise some money and generate buzz.

Lamia: Beyond your most basic costs, make sure to include the other expenses that will ensure that your first customers get the experience you want them to have when they receive their product. This not only includes the product itself and its shipping, but the packaging, the marketing, the communications—they add up. 

What are your top three biggest business expenses every month?

Alia: Beyond paying for production, our biggest monthly expenses include the shipping costs to send our Foutas to customers, digital ads on Facebook and Instagram, and investing in regular digital marketing and PR.

Do you pay yourselves, and if so, how did you know what to pay yourselves?

Lamia: Not yet! We’re working on it.

Would you recommend other small business owners pay themselves? 

Alia: Absolutely. When it’s your business, you’ll work harder than you’ve ever worked on anything else before. Your time is valuable. Your effort is valuable. Build it in from the beginning. One thing we didn’t take into consideration, that we wish we had, is the employee taxes a business incurs in order to draw a salary. Even as founders! So until you’re making enough profit to distribute in those early years, build a small salary into your costs plus taxes.

How did you know you were ready to hire and what advice can you share on preparing for this stage of your business? 

Lamia: You don’t have to go from being a founding team to hiring a staff of full-time employees. We work with a lot of brilliant people, mostly as independent contractors. At this early stage in our business, it gives us the flexibility we need to try new things, learn, and try again. We’re so grateful to the talented people who believe in Fouta Harissa enough to devote their time to growing this business with us. 

I think you know when you’re ready when you realize you don’t know how to do everything, and that’s okay! We’re still in the process of learning exactly what our strengths are as co-founders and when and where it makes the most sense to invest in a new skill versus finding an expert who can help. We look forward to the day when we can have full-time staff on the team. 

Did you hire an accountant, and if so, would you recommend hiring an accountant to other small business owners? 

Alia: 100%. We recommend hiring an accountant as one of the first things you do. They can even advise you when you’re registering your business. We asked around and got recommendations from other female business owners until we found ours.

What are some of the tools or programs you use to stay on top of your business finances? 

Alia: Quickbooks has been a lifesaver. It’s a worthwhile investment and makes your accountant’s life a lot easier come tax time. We also use Square for offline payments and inventory tracking. And of course, Excel—a classic—where all the planning and projections happen.

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Where do you think is the most important area for a business owner to focus their financial energy on and why?

Lamia: I’d say focus your energy on product quality and your people. Your product has to be the best possible thing you can put out into the world. At the end of the day, if you don’t have a great product, you don’t have a business. Just as importantly, invest in relationships. They are everything, especially at the beginning. You might not always be able to pay everyone you want to but be creative. Find ways to uplift them, involve them in decisions, consult them, and barter with them.

Do you think women should talk about money and business more? 

Alia: Definitely. We’re always worried about speaking up because we think everyone else has it all figured out. When you’re a small startup, you think there’s no way others have made the same mistakes that you have. But if we can talk about it more openly, with no shame or pretense, then we can really support each other to make the best and most savvy money decisions. 

The reality is, without good finances, there is no good business, and some of us can really use all the help we can get. 

Do you have a financial mentor, and do you think business owners should have one?

Lamia: We have two. One on the more day-to-day financial management who helps us build spreadsheets, come up with pricing strategies, and analyze reports; and another one who advises more on visionary planning and fundraising. Both are women and both are total badasses.

Business owners definitely need a financial mentor, or more. Find as many quality mentors who care about you as possible, and cultivate those relationships.

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What is the biggest money mistake you’ve made and learned from along the way?

Alia: Underestimating the cost of digital marketing. As an e-commerce brand, we definitely did not anticipate the challenge of competing with companies putting in $10,000+ into social media advertising every month. When you’re just starting out with limited budgets for digital ads, it can be hard to compete. This became even more acute during the pandemic because everyone became an e-commerce brand and doubled down on digital. My advice would be, plan for a bigger budget for ads early on or find creative ways to not rely on them like collaborations, partnerships with brick and mortar stores, and investments into your most loyal customer base to encourage repeat buys.

What is your best piece of financial advice for new entrepreneurs?

Alia: Whatever price you’ve determined for your product, double it. Seriously, there are so many costs you don’t even know exist, beyond your COGS, when you launch a new product. All of those should be built into your MSRP. And do as solid a financial plan as you can. 

Anything else to add?

Lamia: If finance is your thing, use it to your full advantage and help others out. If financial matters don’t come naturally to you, make sure you learn the basics of your business finances to always know what’s going on, and surround yourself with people who know what they’re doing and who you can learn from.

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5 Clean Beauty Founders on Instagram Who Will Inspire You to Level Up Your Beauty Routine

They're must-follows.

Welcome to 5 for 5, where we spotlight 5 women in 5 minutes or less.

From an innovative founder who’s gained the attention of Vogue, Into the Gloss, and Beyoncé by redefining what it means to be a sustainable skincare brand to an Estée Lauder and Ipsy alum who’s centering South Asian beauty, these must-follow founders are transforming the clean beauty industry.

 
 
 

1. Gloria Noto

Former makeup artist and founder of Noto Botanics, a sustainable and ethical skincare and beauty brand, Gloria Noto is a must-follow for anyone who believes that self-care is a radical tool for resilience.

 
 

2. Priscilla Tsai

Priscilla Tsai is on a mission to bring more transparency to the beauty industry through her clean skincare brand, Cocokind. Follow her on Instagram for brand updates and launches (and very relatable baby content).

 
 

3. Abena Boamah-Acheampong

With recognition from Vogue, Into the Gloss, The Cut, Essence, and Beyoncé (NBD), Abena Boamah-Acheampong has solidified her space in the beauty industry with her sustainable skincare brand Hanahana Beauty. Stay ahead of the curve by following the industry leader on IG.

 
 

4. Priyanka Ganjoo

After working at Estée Lauder and Ipsy, Priyanka Ganjoo stepped out on her own to launch a clean makeup brand, Kulfi Beauty, that centers and celebrates South Asian beauty. Tap “follow” to keep up with the up-and-coming clean beauty founder.

 
 

5. Giovanna Campagna

As the founder of the buzzy skincare brand Joaquina Botánica, Giovanna Campagna is bringing Latin America’s best-kept skincare secrets to the masses. Hit “follow” on her IG feed for skincare tips and tricks (not to mention adorable pics of her baby).

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5 Women in Beer Who Are Inspiring Us to Crack Open a Cold One on Instagram

Grab that bottle opener.

Welcome to 5 for 5, where we spotlight 5 women in 5 minutes or less.

It’s no secret that craft beer has a diversity problem. According to a recent survey conducted by the Brewers Association, only about 7.5% of brewers are women and a staggering 88% of brewery owners are white. Ahead, we’re spotlighting five women in beer who are inspiring us to crack open a cold one on Instagram.

 
 
 

1. Beny Ashburn

As the co-founder of Crowns & Hops Brewing Company, a Black-owned craft beer brand and brewery based in Inglewood, California, Beny Ashburn is out here proving that Black people love beer (which just so happens to be the name of one of the brewery’s signature beers).

 
 

2. Jessica Martínez

Shortly after winning the first-ever amateur brewers competition she entered, Jessica Martínez launched her own microbrewery, Malteza Cervecería, in Mexico City. Follow the brewer on Instagram to find out which refreshing craft brews she’s currently sipping on.

 
 

3. Hannah Gohde

The head brewer at Naked Brewing, a craft brewery located in Huntingdon Valley, Pennsylvania, Hannah Gohde is a self-proclaimed #lipstickbrewer. On Instagram, she shares a behind-the-scenes view of what it’s like to brew beer from start to (sometimes) messy finish.

 
 

4. Brienne Allan

In addition to being a production manager at Notch Brewing in Salem, Massachusetts, Brienne Allan is using her platform to call attention to what it’s like to be a woman in craft beer, bringing the #MeToo movement to the craft beer industry. Something that’s, quite frankly, long overdue.

 

5. Alisa Bowens-Mercado

Noticing a lack of craft lagers on the market, Alisa Bowens-Mercado founded Rhythm Brewing Co., a New Haven, Connecticut-based beer company specializing in unfiltered lagers, which is something of an homage to her grandmothers, who were both beer drinkers.

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5 Travel Founders Who Are Giving Us Serious OOO FOMO on Instagram

Put that PTO to good use.

Photo: Spencer Davis from Pexels

Photo: Spencer Davis from Pexels

Welcome to 5 for 5, where we spotlight 5 women in 5 minutes or less.

We don’t know about you, but we’re currently daydreaming about signing out of Slack, setting our OOO emails, and getting far, far away from our WFH desk situations. Ahead are five travel founders who are seriously fueling our OOO FOMO and inspiring us to submit a PTO request, stat.

 
 
 

1. Katalina Mayorga

As the co-founder of El Camino Travel, an off-the-beaten-path travel company, and Casa Violeta, a private villa located in Granada, Nicaragua, it’s no surprise that Katalina Mayorga’s feed is filled with beautiful beaches, colorful streets, and unreal sunsets.

 
 
 

2. Marta Tucci

Travel photographer, writer, and co-founder of Naya Traveler, a travel company specializing in tailor-made journeys to destinations spanning Spain, Morocco, Argentina, and more, Marta Tucci documents her travels to everywhere from Bahia to Bali and Kashmir.

 
 
 

3. Cheraé Robinson

Cheraé Robinson, the founder of Tastemaker Africa, a platform that connect travelers with a range of unique tours and experiences created and hosted by artists, creators, and makers, shares swoon-worthy snaps from Côte d’Ivoire, Senegal, Cape Verde, and more.

 
 
 

4. Achiraya Thamparipattra

The co-founder of Hivesters, an award-winning travel social enterprise created to preserve and help Thai culture flourish, Achiraya Thamparipattra often posts photos from her adventures in Phuket, Ayutthaya, Phang Nga, and more destinations throughout Thailand.

 
 
 

5. Phaka Dludla Hlazo

As the founder of Zulu Nomad, Phaka Dludla Hlazo is providing curated experiences in East and Southern Africa. Her IG feed is an enviable travel bucket list, featuring photos from UNESCO World Heritage site Maloti-Drakensberg Park in South Africa, Stone Town of Zanzibar, and more.

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8 Women in Venture Capital Share Their Best Fundraising Advice for Female Founders

From what you should (and shouldn’t) include in a pitch deck to how to identify the right investors for your business.

Statistically, women-led and owned businesses make more money but they’re still woefully underfunded, especially when it comes to venture capital. And, unfortunately, those stats aren’t improving year-over-year. A recent report published by Fortune discovered that companies founded by women received less VC investment in 2020 than in 2019. By the numbers, female-founded companies raised $3.31 billion in VC in 2020, or 2.2% of the year’s total sum, compared to $3.5 billion and 2.6% in 2019.

So, we reached out to eight women in the venture capital industry and asked them to share their best fundraising advice for female founders—and they didn’t hold back. From what you should (and shouldn’t) include in a pitch deck to how to identify the right investors for your business (spoiler alert: they need to bring more than just money to the table), scroll on for their words of wisdom, including insight into how they choose which companies to fund. Needless to say, if you’re an entrepreneur who’s thinking about bringing VC into your business, you’re going to want to heed their advice.

Sarah Kunst, Managing Director, Cleo Capital

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“If the terms are clean and the money is green, they are most likely the right investors.”

—Sarah Kunst, Managing Director, Cleo Capital

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur? 

I look for founders with an incredible amount of grit, coachability, subject matter expertise, and resilience. I look for businesses in large markets that I'm excited about. If I can find all of those things in a pre-seed startup, I'm likely to invest. 

What are three crucial elements everyone should include in a pitch deck when raising money and why? 

Make sure you explain the problem you're solving (and the solution you're building!), why your team is the right team to solve the problem, and why the market is large enough to build a billion-dollar company. 

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes? 

Mistakes to avoid are bad decks and pitches. There are tons of resources available from simple searches about what a good pitch deck looks like and how to pitch angel and pre-seed investors effectively. Make sure you're putting your best foot forward by preparing both your pitch deck and pitch meeting speech.

What advice can you share for entrepreneurs on partnering with the right investors? 

If the terms are clean and the money is green, they are most likely the right investors. At the earliest stages, most founders won't have a surplus of options so making sure you can live with the investment terms is very important so you can raise money and keep growing your business. Resources like CooleyGO and YC have great examples of boilerplate investment terms. 

What is your #1 piece of financial advice for new entrepreneurs?

Save money on things that don't matter. Fancy offices or expensive business cards likely don't matter, great employees do. 

Jaime Schmidt, Co-Founder, Color

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“Fundraising means giving up equity in your business, so the earlier you raise money, ultimately, the more it will cost you.”

—Jaime Schmidt, Co-Founder, Color

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

My fund Color invests in things people buy, and the places people buy them. This includes personal care, food and beverage, retail, publishers, tech-enabled marketplaces, and e-commerce platforms. 

To make an attractive investment, first and foremost the product must offer a clear solution to a problem, and provide for a timeless need versus a fleeting trend. I look for brands that start out catering to a niche customer base, but that can show a clear path to reaching the masses. I’m excited about founders with an authentic passion for what they are building and who can make a case for why they are the right person to be building it. 

What are three crucial elements everyone should include in a pitch deck when raising money and why?

It’s important to show a clear understanding of the competitive landscape and how your product and brand will add value to the category as a whole. Show who the existing competitors are, those on the rise, and where your brand fits amongst them. The best pitches focus not on how a product is better, but on how it is different. 

Investors will also want to see your distribution strategy. Lay out your plans for where the products will be sold, whether that’s through your website only or across different retail channels. This requires knowing what customer demographics you are targeting, too. I’m personally drawn to brands with an openness to exploring sales channels otherwise overlooked by competitors in their space. For example, when I was building Schmidt’s Naturals, I wanted my products available to the mainstream consumer, where most of my competitors in the naturals space catered to a more niche market.

Show images of the standalone product, plus pictures of it being used. This might sound obvious, but so many decks are lacking bold, high-quality photos. These are especially important in the earliest slides, so the investor has a clear understanding right away of what you are selling. The deck should include colors and design elements of the brand, too. This shows that you care about how your brand is represented and that you understand its unique positioning in the category. Make it pretty!

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

The biggest mistake I see is founders raising too early.  Fundraising means giving up equity in your business, so the earlier you raise money, ultimately the more it will cost you.

Media often paints a picture that landing investor money means a brand is positioned for guaranteed success. But this isn’t necessarily true, and founders don’t always spend investor money wisely. I like to encourage founders to bootstrap for as long as possible—this teaches you how to be scrappy and intentional with your spending, which will serve as a valuable skill throughout the growth of your business.

What advice can you share for entrepreneurs on partnering with the right investors?

The right investor will ask smart, relevant questions and show real enthusiasm for you and your brand. Be wary of those you suspect might have different goals for your company. Listen to your gut, and don’t settle for partners you aren’t excited about working with.

Not everyone will get what you’re trying to do, and that’s okay. Be patient, and believe in yourself. I recently tweeted: “10 yrs ago I started a business that, as a VC, I probably wouldn’t have invested in. As a founder, I was all in, but as an outsider, there was good reason to be skeptical. 7 yrs later the company sold for $100M+. The rejection you might see today is no indicator of your potential.”

What is your #1 piece of financial advice for new entrepreneurs?

Allow yourself to be simultaneously frugal and willing to spend by knowing where to cut corners to invest in things that matter most. This takes some of the rigidity out of financial management, while still providing boundaries for responsible spending.

Sydney Sykes, Co-Founder and Co-CEO, BLCK VC

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“Look for someone who answers your calls and texts. You should feel comfortable asking them questions and reaching out to them, even if they may not have the answer to your problem.”

—Sydney Sykes, Co-Founder and Co-CEO, BLCK VC

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

I look for a combination of two things: vision and numbers. If an entrepreneur has an incredible vision for her company and she's been able to motivate others to believe in her but the numbers aren't incredible, I may be willing to invest. On the other hand, if an entrepreneur has incredible numbers, but the vision of what the business will be in the future is still developing I may also be willing to take a chance. Ideally, she has the perfect combination: an incredibly strong vision with economics or growth that is starting to show traction.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

1. Why your problem is important? Why should you/I/the customer/the employees care about this? You should be able to easily convince me about this. It means this is an important issue that needs to be solved and you're the person who understands that best.

2. Any traction. This comes back to the numbers. What indications are there from the market/customers that this will be successful? It could be sales, but it could also be customer conversations, conversion rates, or engagement.

3. Growth projections. How do you predict sales to grow and how many customers will it take to get you there? This helps me (and you) understand if these assumptions are reasonable. It also helps me understand if this is a long or a short run investment? Some companies need a little bit of money to go really far, and others need a lot more. Neither is right or wrong, but I need to know if your expectations for the business align.

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

A lack of focus on the target customer. Especially when seeking venture capital investments, entrepreneurs frequently aim to have the largest TAM possibly and therefore try to expand who their target customer is. However, these two things aren't inherently linked. There can be a large total addressable market, but your product needs to appeal to individuals -- and you need to know exactly who those individuals are.

What advice can you share for entrepreneurs on partnering with the right investors?

Look for someone who answers your calls and texts. You should feel comfortable asking them questions and reaching out to them, even if they may not have the answer to your problem. This free communication can set the tone for the relationship.

What is your #1 piece of financial advice for new entrepreneurs?

Make sure the unit economics makes sense. Especially with consumer companies, there needs to be an understanding of how each customer could be profitable. Ultimately, incredible growth is unsustainable without strong unit economics.

Jesse Draper, Founding Partner, Halogen Ventures

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“Remember one thing, not all money is good money. This is a long-term relationship. A marriage you cannot get out of. It will be a 10-year partnership. Do your research.”

—Jesse Draper, Founding Partner, Halogen Ventures

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

We invest in consumer technology so I start there. The three main things I look for in an entrepreneur are: 

1. Founder, founder, founder. Why are you the best person to run this company? Are you going to take it all the way? Are you in it for the quick exit or the 10-year marathon? Do you know your strengths and weaknesses? And mostly, is this someone I want to get into business with?

2. Product. How is your product a unique offering? Is it defensible? If it's a busy space, why is yours the one that will stand out?

3. Traction. This could mean $1 million in revenue, 100,000 users but don't let those numbers dissuade you, many people especially in hardware need to raise capital to get their product to market. If that is the case, show me some research or data that there is a need for this.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

A. Know your market size. Make sure you are going after a billion-dollar market. As a venture capitalist, my business only works if you sell your company for a billion dollars, I have many investors who I need to pay back. If you are going after a $50 million dollar market, my business model doesn't work. I often have to say to founders, go find the bigger market here and come back to me.

B. What problem are you solving? The best businesses are built out of a need. Be clear about what your solution is and why you are building this company. 

C. The ask! I am always perplexed when this isn't in the deck. What are you looking for? $1 million? Advisors? Put the ask in the deck and it's much easier to ASK for an investment, etc.

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

Founders who think they have all the answers. I certainly don't have all the answers and I don't believe anyone should ever think they are the smartest person in the room. Whenever I see a  founder who tells me, “This is the only way it will work.” that is a big red flag and I usually run in the opposite direction. The best companies are able to pivot and evolve when needed. It's never a straight line up a mountain, there are ups and downs, and who knows, we may end up in an international pandemic!

What advice can you share for entrepreneurs on partnering with the right investors?

Remember one thing, not all money is good money. This is a long-term relationship. A marriage you cannot get out of. It will be a 10-year partnership. Do your research. Call their other portfolio companies to see that what their work ethic is like, how they partner with founders, are they in the trenches with you, or hands-off. One bad investor can poison the well. You will find the right capital for your company even if it takes a little longer because you have to turn some down. Be diligent and selective. 

What is your #1 piece of financial advice for new entrepreneurs?

Fundraising is a grind. Don't get discouraged by the “no’s.” I often have founders say, “Well, everyone said ‘no.’” And I say, “Who is everyone?” And they respond with, “Well, I talked to eight  investors!” That is NOT a lot. Plan on having 100 meetings because you have to cast a much wider net to find your investors. If you plan on having 100 meetings, you will be pleasantly surprised because it probably won't take 100. Also, ask for more. Get clear on the number you think you need and double it.  It is what I like to call a "misc" category. If your goal is to raise 1 million, go for 2 million instead. It always takes more money and more time than you think. Set yourself up for success. 

Arielle Loren, Founder, 100k Incubator

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“Not every business can start small, but the vast majority can. Get a small amount of capital, start testing, collect your data, know your conversion rates, and then think about an investor.”

—Arielle Loren, Founder, 100k Incubator

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

The most successful and scalable businesses place a heavy focus on their analytics and numbers. They pay attention to their mistakes, learn fast, and are quick to pivot to where they’re seeing traction, whether that’s an increase in their user base, higher revenue, or increased profitability. We love women entrepreneurs who are obsessed with those details, and who aren’t afraid to get creative to reach their growth goals. We don’t expect things to go smoothly, but we do expect for the bumps to be measured.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

Know your conversion rates before going after large amounts of capital. If I give you something small like $10,000, could you take 10% of that ($1,000), invest it in an ad campaign, and turn it into $2,000 in sales? Can you go granular and know how much it costs you in ad spend just to get one customer? Could you measure and see how quickly a first-time customer makes their second purchase? Too many entrepreneurs get caught up in creating a perfectly branded pitch deck when really the decision comes down to proof of concept and real-time data. Gary Vee posted a great quote recently that said, “When you overthink, you slow down and you get passed.” Not every business can start small, but the vast majority can. Get a small amount of capital, start testing, collect your data, know your conversion rates, and then think about an investor (if that’s really what you want to do).

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

There are so many entrepreneurs not taking the time to get educated on all of their funding options, and part of that is because angel investors and venture capital have become so popular in the media, that entrepreneurs jump to make that their desired funding vehicle. The vast majority of entrepreneurs do not need venture capital; we teach and help entrepreneurs access 11 other types of funding. When our members first enter the 100K Incubator app, they're asked to take our 50-video boot camp on how to prepare for funding, what their funding options are, and how to use funding to scale to their first $100,000 in annual sales. And for the entrepreneurs who are already earning over $100,000 in annual sales, they still find extreme value in the boot camp, because it breaks down funding and scaling in a way that most of them have never heard. Getting the funding is the easy part, they actually have a lot of options, but learning what drives and scales their business, getting into the data, that’s where their true talent, grit, and creativity is tested as a business owner.

What advice can you share for entrepreneurs on partnering with the right investors?

When partnering with the right investor, it’s more about having an honest conversation about what they expect in terms of a return on their investment, how fast they want it, and how much control they expect to have in the business. Then it’s making sure that you have a skilled lawyer to put those terms into contracts so that there’s little misunderstanding down the road. Most small businesses don’t need investors. What they really need is access to capital, customer acquisition and retention process, a deep understanding of how it works for their own business, and how to scale that into a six and seven-figure in sales with a healthy profit. The TV and social media world have made angel investors and venture capital funding sexy without telling how much stress it puts on founders, and how much it costs financially. At a minimum, make sure your investor is bringing something to the table other than money because if your company is successful, that investor capital you took in exchange for your equity will end up being the most expensive type of capital you’ve ever taken.

What is your #1 piece of financial advice for new entrepreneurs?

Make your move, learn from your mistakes, and trust the process. How much you raise in funding is nowhere near as valuable as what you learn along the way. And while helping women get access to funding is rewarding and an accomplishment in itself, it’s far more exciting to help them use that capital to create real sustainable six-to-seven-figure businesses that change their lives, their families’ lives, and their futures. We love to be the catalyst and support system for more women understanding the complete cycle of entrepreneurship. Getting funding is truly just the first step.

Elizabeth Edwards, Managing Partner, H Venture Partners

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“Make a big list and do your research. You should be putting a list of 100 investors together based on stage, sector, and geography focus.”

—Elizabeth Edwards, Managing Partner, H Venture Partners

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

We're looking for next-generation, iconic consumer brands that we can help scale from $0 or $5 million in revenue to $10 or $50 million in revenue within a handful of years. These are products in your home that you use every day, like your Peloton bike, baby food, or skincare. We look for brands that are fundamental to life, better for human health, and better for the environment, and we like to support underrepresented founders and consumer groups of all kinds. 

In particular, we also like businesses that have one or more of the following in the business model: superior products, scientifically-proven claims, intellectual property, network effect, owned channels, the convergence of media/retail/brand. We tend to lean towards inclusive brands vs. exclusive, and we're particularly strong with omnichannel brands that are going to ultimately scale in retail.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

The pitch uses a combination of stats, calculations, product photos, and charts to tell the following story: 

  • We know this consumer inside and out - and they have a big problem that we deeply understand.  

  • We have a unique way to solve that problem, sell the solution, or make the solution because we have a lot of domain expertise and credibility in this particular space.  

  • This problem represents a huge market, our approach has compelling unit economics, and this brand has clear exit opportunities — strategic and otherwise. If you invest X dollars with this round, we’ll spend the money in these ways to turn it into Y revenue over Z timeframe

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

Not using DocSend is a common mistake; it's industry standard in venture capital, and anyone who tells you otherwise is suspect. There was a Twitter controversy over this not long ago, but as Ronald Regan said, "Trust but verify."  There are a lot of thoughtless (or bad) actors out there, who will forward your deck on without thinking - because it's not their business, it's yours. If you're sending your business plan to strangers, DocSend is a good way to track and control it. If you are sending it to a current investor in your company, go ahead and bury them in PDFs of decks and attachments. But there's no reason to do that with strangers.

What advice can you share for entrepreneurs on partnering with the right investors?

Make a big list and do your research. You should be putting a list of 100 investors together based on stage, sector, and geography focus. Crunchbase Pro is relatively cheap, and you can get access to thousands of VCs this way. Then, put together a "Perfect Triumvirate" of three venture investors that complement the weaknesses of your management team; those that can help you with strategy and open their network. It's important to have three deep pockets in any deal. It's tough for the entrepreneur, and the investors, if there's only one set of deep pockets when times get tough — as they invariably do.

What is your #1 piece of financial advice for new entrepreneurs?  

Cash is king. Spend your venture capital money like you don't have any money. Growth hack, test, iterate, and once you figure out a way to get a 7x LTV/CAC, go for it. Raise more money, hire the absolute best talent money can buy and your cap table can bear, and then change the world.

Maria Salamanca, Investor, Unshackled Ventures

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“The right investor will be a combination of ‘they get what I am trying to do’ and ‘they push me to think deeper about the problem.’”

—Maria Salamanca, Investor, Unshackled Ventures

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

We are sector agnostic. We know founders see the world differently than everyone else so we are open to all sectors. Like most VCs, we look to invest in companies that can grow at “venture scale” in large market opportunities.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

Answering the question: what is new about your solution that others haven't tried before (what’s your secret sauce/unique insights), why is this the right team to tackle this, and why is this a massive opportunity?

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

Founders don't always do their homework on the competitive landscape, many times only focus on big older companies but the real competition is often from peers only a few steps ahead or behind. 

What advice can you share for entrepreneurs on partnering with the right investors?

The right investor will be a combination of "they get what I am trying to do" and "they push me to think deeper about the problem"

What is your #1 piece of financial advice for new entrepreneurs?

Figure out what is the best form of capital that will help you scale and why (VC, loans, bootstrapping, PE, etc) because this impacts how you think about company building. There are many ways to build a profitable business and venture is not always the right capital to get you there.

Maya Baratz Jordan, CEO and Founding Partner, Founders Factory New York 

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“Partner with investors who can help you beyond writing you a check and help in the areas you actually need help in.”

—Maya Baratz Jordan, CEO and Founding Partner, Founders Factory New York

How do you choose which businesses to fund? What do you look for in a business and/or an entrepreneur?

As an early-stage investor, I always weigh the team’s DNA heavily when considering an investment. A business at the startup stage will go through many changes—and will look and be as different two years in as a newborn is from a toddler. It takes a lot to keep a business not only alive but thriving. That's why over 90% of startups fail. The consistent piece is the team. Does the founding team have the unique superpowers required to get their specific company off the ground, along with the experience to allow them to stay the course and attract the best talent and returning customers as they grow? 

The second piece that's important is the market: Is the ultimate market this business is targeting large enough to be investible? For a business to be investible, it needs to generate returns for investors that make it well worth the risk and opportunity cost. There are a lot of great examples of successful businesses that are not investible, but still wonderful businesses. For an investor, the potential reward needs to be multiples higher than the risk—which often means that the company can serve a very large group of people. 

The third piece that's important is the problem that's being solved and how it's being solved; this is the glue that bridges together the first two pieces (i.e., the founders and the market); it's what dictates whether or not the business is truly fitting the needs of the market it is targeting.

What are three crucial elements everyone should include in a pitch deck when raising money and why?

What you put in your pitch deck will depend on the stage of the company. The general areas you'll want to cover include, but aren't limited to, the problem you are solving, how big that problem is (market), and what it is about your company that puts you in a position to win. You'll want to weave them all into a story with a natural arc; it needs to flow in a way that would answer someone's questions as they listen to your pitch. 

If you're an early-stage business with little or no traction to show, you'll want to highlight what it is about your business that will defend it over time and help you win the market over, despite current or future competitors who enter that market. Sometimes that defensibility relies on the experience of the founding team, if relevant. For instance, if you know that the CEO of a wildly successful venture is now starting a new company in a related space, their experience and learnings from running their previous business will likely help them in their new venture. You ideally want to focus on the things that differentiate your company from competitors, specifically zeroing in on the aspects that can't be easily replicated by others and that are necessary for the business to grow and be successful. 

If you're a company with traction that shows you're growing quickly, a so-called hockey stick growth chart can help tell the story of why you are already running a rocket ship. Every company should have its own way to express its ultimate "right to win."

What are some of the most common mistakes people make when raising money and how can others avoid these mistakes?

One of the mistakes I've seen founders make when pitching is speaking but not truly listening. Partnering with investors is a two-way street. The questions and feedback you will get will help guide you to refine your pitch as you go, and perhaps even help your business. And you never know when you may get a "no" from an investor now and perhaps that turns into a "yes" in a later stage of your company. Relationships matter and you can use the fundraising process to grow relationships, even with investors who say no. It's likely that, especially if this is your first time fundraising, most of your pitches will end up with rejections, so you may as well use each interaction as an opportunity to learn. You also want to know your pitch like you know your business; don't memorize it or it will feel unnatural. The best pitches feel like conversations.

What advice can you share for entrepreneurs on partnering with the right investors?

Partner with investors who can help you beyond writing you a check and help in the areas you actually need help in. Try to avoid bringing on partners who either don't know your market or haven't invested in companies that are in the same stage your company is in. You'll want to partner with investors who are empathetic to the journey you're on and can be helpful in the right ways when you need help, whether that means giving you the right advice or making the right introductions. This is why former founders or operators within startups make great angel investors; they understand the challenges of building a business and know the importance of helping a company beyond the capital they put in. You'll also want to partner with investors who generally agree with the path you're going on so they can best support it.

What is your #1 piece of financial advice for new entrepreneurs?

Your biggest financial job will be ensuring there is ultimately more money coming into the company versus out. It sounds simple, but if you have this mandate in mind, you'll be protective of your runway when you need to be and push your company to grow in a long-term, sustainable way so you can ultimately be independently profitable. You don't want to spend money on frivolous, performative things upfront. Think about your runway as fuel; if you're close to running out of it, the company can quickly grind to a halt. Spend money where it's truly needed and understand exactly how every dollar you spend will ultimately get your company to your long-term goals. Most people in successful early-stage companies wear multiple hats and have the urgency/scrappiness to pull things off with limited resources for this reason.

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The Best Money Advice From the Founders of ClassPass, Birchbox, Drybar, and More at the U.S. Bank Women and Wealth Summit

“Know it, manage it, don’t fear it, and don’t let it control you either.”

On Thursday, October 8th, we tapped industry-disrupting entrepreneurs and experts for the private U.S. Bank Women and Wealth Summit, a virtual event exclusive to U.S. Bank clients. Inspired by the recently released U.S. Bank Women and Wealth Insights Study, it’s safe to say we didn't hold back on discussing all the important topics around women and wealth, from exploring how women are making their mark on communities through philanthropic giving to diving into the systems that cause the gender wealth gap and how to dismantle them.

The afternoon of thought-provoking conversations was led by noteworthy female founders including Payal Kadakia, the founder and executive chairman of ClassPass; Katia Beauchamp, the co-founder and CEO of Birchbox; Alli Webb, the co-founder of Drybar and Squeeze, and more. Then, Gunjan Kedia, Vice Chair of Wealth Management and Investment Services at U.S. Bank took to the virtual stage with Jaclyn Johnson, founder and CEO of Create & Cultivate to share her story of immigrating to the U.S. to become one of America's Most Powerful Women in Finance, with her division responsible for more than $7 trillion in assets under management or administration. 

Although the event was exclusive to the U.S. Bank audience, don't worry, we wrote down all the most quotable moments for you! Read on for the highlights.

Fireside Chat With U.S. Bank's Gunjan Kedia, Vice Chair of Wealth Management and Investment Services 

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Panelist:

Gunjan Kedia | Vice Chair of Wealth Management and Investment Services, U.S. Bank 

Moderator: 

Jaclyn Johnson | CEO & Founder, Create & Cultivate

On being a leader…

“Leadership is fundamentally about everyone but you.”

“I very humbly believe that your title comes with your career, but leadership comes with your point of view.”

On entering a successful company in a high-powered role… 

“First, seek to understand, then seek to change.”

On being empowered by your finances...

“Being on top of your money affairs is so empowering. It gives you so much confidence that it’s worth investing in.”

On paying it forward by working in the finance industry… 

“It is hugely satisfying personally to see someone smile a little bit because you helped them through a difficult decision.”

On managing your money…

“I’m not going to make you believe it’s the most fun thing you do, but I want you to believe it’s not optional.”

On saving, saving, saving…

“‘I save first, and I spend second’ is a mindset that’s very important.”

On getting started… 

“You have to invest in educating yourself.”

“Don’t fear making terrible decisions. Just don’t make huge terrible decisions.”

“Think about what $5 a day does for you 30 years from now if invested wisely.”

On making smart money moves during COVID...

“Right now, interest rates have come down very dramatically so if you have debt you should look at it and see if you can restructure it.”

On maintaining your income… 

“Income continuity is very important to building wealth.”

On cultivating a healthy mindset around money…

“Money is a way to achieve what you want to do with your life.”

“Know it, manage it, don’t fear it, and don’t let it control you either.”

On switching industries to spend more time with her family…

“If anyone thinks that motherhood doesn’t disrupt a career, I’d have to respectfully disagree.”

On giving advice to working moms…

“Don’t give up, stay in the game.”

“Life works out, but you never plan it.”

Keynote Conversation With Actor and Entrepreneur Tracee Ellis Ross

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Panelist: Tracee Ellis Ross | Actress, CEO, and Executive Producer 

Moderator: Jaclyn Johnson, Founder and CEO, Create & Cultivate

On becoming an actor..

“Acting gave me access to everything about myself—everything was at play in the world of acting and I felt completely alive and could use all aspects of myself.” 

On how the industry has changed…

“There are so many different ways to discover talent, and to have your gift and talent be seen.”

“There is a democracy in the industry now, that people are able to not just be one thing.” 

On aging in Hollywood…

“I have always wanted to get older. I am always excited about birthdays. You get wiser, more comfortable in your skin. I am grateful at this age to be able to have at my fingertips what I have at my fingertips because I know what it means to me and what I want to do with it.” 

On starting her business, Pattern Beauty…

“It is a task and a half to be a founder and CEO of a company. A successful company is not based on good intentions or even good ideas, it has to be combined with a really good operational process and strategy.” 

“I retain majority ownership, I have full creative control, it is my brand, it is my idea and that means I get to run it the way I want.”

“I believe in shared power. I believe in a table filled with voices, I believe in people bringing their whole selves to work.”

“I believe in a business that doesn’t just make money but also gives back to the community.”

On confidence around money…

“I have always been an outspoken individual but I did not know how to negotiate on my behalf and I did not know how to talk about money.”

“Culturally, women are not taught to talk about money. We have been taught that women are not meant to take up space and not rock the boat. We have also been siloed off from each other particularly as Black and Brown people so we don’t share information with each other and you always think you are alone. And when you think you are alone, it is very scary to show up for yourself because you don’t know; you have nothing to compare it to.”

“Don’t be afraid to ask for support and ask for help. You can be transparent. If you go somewhere to ask for support and they make you feel wobbly, try somebody else.”

“I believe in people being paid fairly and equally for the jobs that they do.”

“I strongly believe in women and WOC fighting for equity—for having a stake in what they create.” 

On sharing the table with other women…

“My confidence has come from the collective energy of other women. They have taught me how to navigate my life—not on my own as this siloed individual, but with this collective spirit and information of all of us.” 

“You want to have people in your circle who are steps ahead of you and steps behind you.”

On advice she’d give her younger self…

“Things take longer than you think they are going to take.”

“Trust the process.”

“The questions are more important than the answers but there is such a sense of fulfillment when you stop looking for that answer and it just appears on your plate.” 

Investing With the Heart: Building Thriving Communities by Combining Social Responsibility With Charitable Giving

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Panelists:

Ruby Pediangco | Senior Philanthropic Advisor, U.S. Bank Private Wealth Management

Arian Simone | General Partner & Co-Founder, Fearless Fund

Shiza Shahid | Co-Founder, Our Place

Rebecca Minkoff | Co-Founder & Creative Director, Rebecca Minkoff, and Co-Founder, The Female Founder Collective

Moderator: 

Sacha Strebe | Editorial Director, Create & Cultivate

On being a woman and a philanthropist…

“We are nurturers. We are givers. We multiply anything that is given to a woman.” - Arian Simone

“It’s no longer a luncheon activity. It is an activity of smart women who want to maximize their capital and do good at the same time.” - Rebecca Minkoff

On being inspired by your upbringing…

“My parents instilled in me the concept of sadaqah jariyah, which is this idea that you should do something in your life that will live long after you’re gone.” - Shiza Shahid

“I’ve learned from my work what happens when you help a woman earn a dollar: She invests 80-90% back for her family and her community. It is typically 30-40% for men.” - Shiza Shahid 

On finding new solutions to old problems...

“Anything that puts you out of the status quo gives you a deeper perspective and allows you to be far more creative in solving challenging issues.” - Shiza Shahid

On using life experiences to inspire giving back …

“Working at a nonprofit is very close to my heart, however, I believe that if we’re to solve the most pressing challenges, we need businesses to step up.” - Shiza Shahid 

On providing education, access, and connection to the female founder community…

“I was tired of seeing the same few women being asked to speak on panels and then being asked, ‘What's it like to be a female founder?” as if we were polar bears.” - Rebecca Minkoff

“Founders teach founders best. We've been through it.” - Rebecca Minkoff

On influencing positive change in our communities

“I'm the answer to my problem.” - Arian Simone 

“Black women are the most founded, yet the least funded.” - Arian Simone

“We are the first Women of Color fund that is built by us, for us.” - Arian Simone

On investing your wealth into your personal values, ideas, and perspectives…

“It's very rare that I've invested in anything that's been owned and operated by a man because I am putting my money where my mouth is.” - Rebecca Minkoff 

“Take the time to do some self-reflection and think, ‘Why am I passionate about education for children?,’ ‘Who influenced me?’ Once you do that reflection, you begin to have a story to tell and it ignites a fire.” - Ruby Pediangco 

“It's that laser focus on what's important that really has flourished all of their endeavors.” - Ruby Pediangco

On finding mentors and providing advice to others…

“It's one thing to give somebody capital. It's another thing to equip them with the skills in order to put that capital to work.” - Arian Simone

“Rather than putting it into Google, you are able to talk to another woman and say, ‘Hey, how did you do this?’ and it doesn’t mean it’s high-to-low, it’s side-by-side.” - Rebecca Minkoff

On ensuring your values align with your philanthropic efforts… 

“Take a sheet of paper, draw a line down in the center, and think of three things that are important to you other than your family. And on the other side, think of charities that you have given to or wherever you’ve invested your money to. Look at that sheet to see if there is alignment between the two.” - Ruby Pediangco

 On encouraging more women entrepreneurs to consider philanthropy…

It’s absolutely fine if you can’t give today. You can give in the future.” - Ruby Pediangco

On creating connection, impact, and community…

“Women of Color, by nature, bring to the table an element of social impact. By nature, that is just what is happening.” - Arian Simone

On making charitable giving an active part of one’s life…

“I’m not just handing over my money. I am handing over my time.” - Rebecca Minkoff

On finding a thoughtful approach to help build thriving communities

“There is no trade-off between deep ambition and trying to do the right thing. It’s more and more complimentary.” - Shiza Shahid

“What we have to do, in this moment, is think hard about what we stand for and then be consistent in it. Not just when it’s fashionable.” - Shiza Shahid

“Speak with someone older than you to inform your perspective.” - Ruby Pediangco

Closing the Gender Wealth Gap: A Conversation About the Multibillion-Dollar Disparity

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Panelists:

Divya Gugnani | Co-Founder & CEO, Wander Beauty

Katia Beauchamp | Co-Founder & CEO, Birchbox

Alli Webb | Co-Founder, Drybar & Squeeze

Lindsey Boyd | Co-Founder, The Laundress

Moderator: 

Beth Lawlor | President of Private Wealth Management, U.S. Bank 

On experiencing the gender gap early on…

“The minute I got out of college, I told myself, ‘I don’t want to be financially dependent on anyone but myself.’” - Divya Gugnani 

“Early in my career, I was really naive about the gender gap. In my mind, as a young person just starting a career, I thought, ‘But we’re doing the work, we’re closing the gap.’”- Katia Beauchamp

“I wanted to learn and earn that right [of having a voice in the room].” - Katia Beauchamp 

On starting a business despite challenges... 

“I surrounded myself with people who are smarter in ways I’m not and can help bridge that gap for me.” - Alli Webb

“You have to follow what you’re excited about doing.” - Alli Webb

On finding the right market to thrive in...

“There was a major void in the market for proper cleaning products seventeen years ago.” - Lindsey Boyd

“I was excited about getting out of the house, getting away from my kids, and doing something for me, which turned into, ‘Oh my god, there is a massive hole in the marketplace,’ and, ‘Why isn't anyone doing that?’” - Alli Webb

On raising money and learning about finances through experience... 

We called on people that we knew and believed in us.” - Lindsey Boyd

On investing in female-founded companies…

We really have to change the entire ecosystem.” - Divya Gugnani

On empowering your employees… 

“Allow people to do what they're passionate about within your organization.” - Lindsey Boyd

On simultaneously being an empowered mother and successful entrepreneur…

Entrepreneurship prepared me to be a stronger mother and motherhood gave me a perspective that is so needed and useful as an entrepreneur.” - Katia Beauchamp

On working hard to create sustainable growth…

I was always the person that was working a bit too hard and everyone was like, ‘You’re making us all look bad.’ I expected that from everyone else around me.” -Alli Webb

“A good seven, eight years I worked like a dog. I loved it, but I was exhausted.” - Alli Webb

On empowering other women to overcome financial obstacles…

We had interns that are now in VP positions.” - Lindsey Boyd

“We’ve done classes for our employees to give them the ability to do more than what they went to school for or what they thought they were able to do.” - Lindsey Boyd 

“Get smart [about money] and share it with everyone.” - Divya Gugnani

On taking control over your financial future…

“It’s about figuring out how to be financially fluent and become financially literate.” -Divya Gugnani

“We shouldn't be ashamed of what money can do.” Katia Beauchamp 

On having money conversations openly...

“Make it an okay thing to talk about at a girl’s dinner.” - Divya Gugnani

“Socializing the conversation around investment needs to happen!” - Divya Gugnani 

On being and finding a mentor…

“[Mentorship] is going the change the landscape on every level.” - Lindsey Boyd

“Men help each other and have each other’s backs, and it’s with money.” - Katia Beauchamp

 On being money-savvy in male-dominated spaces…

Come to the table as strong as a man.” - Alli Webb

“We need to see more female investors writing checks.” - Divya Gugnani 

“Always come prepared for any review or employee conversation.” - Lindsey Boyd 

The Future Is Female: A Conversation on Building Generational Wealth for Women

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Panelists:

Jesse Draper | Founding Partner, Halogen

Sarah Kunst | Managing Director, Cleo Capital 

Payal Kadakia | Founder & Executive Chairman, ClassPass

Moderator: 

Jaclyn Johnson | Founder & CEO, Create & Cultivate 

On empowering women to invest with confidence…

“We need more women creating billion-dollar businesses, then investing back into the ecosystem.” - Jesse Draper

On being an angel investor… 

“If you can buy a Birken, you can angel invest.” - Sarah Kunst 

On taking ownership of your finances...

“Don’t think you can be smarter than the market.” - Sarah Kunst 

“You should only invest in things you understand.” - Jesse Draper

“Money is not something that limits you, but energizes you.” - Payal Kadakia

On bridging the generational wealth gap…

“Investing in women solves all of our problems.” - Jesse Draper

“It’s my job to carry the torch forward to help other women succeed as well.” - Payal Kadakia

“The biggest thing I want to be able to invest in is people and to create wealth for other people.” - Payal Kadakia 

On finding female founders to invest in…

“You already have a network and you already know who you want to invest in. I promise you do.” - Sarah Kunst

“I literally just slide into their DMs, and I say, ‘I really want to learn more about your business.’” - Sarah Kunst 

On taking risks with money…

It’s about making those trade-offs about what matters and what doesn’t.” - Payal Kadakia

“Women assess risk at a completely different level from men, so you are already derisking your investments, I assure you.” - Jesse Draper

On working toward financial freedom… 

“My thought is always, ‘How do I make more money?’ Not, ‘How do I ask someone to give me more money?’” - Sarah Kunst 

On creating wealth that improves the lives of future generations...

“There are organizations like the Los Angeles Ballet that wouldn't exist without female philanthropists at all, so I see that as a major component of what I do: Give back to my culture and performing arts.” - Payal Kadakia

“Invest in stuff you can’t afford to not see in this world.” - Sarah Kunst 

On growing with the market… 

“Your goal is just to keep money in the market and grow as the world generally grows.” - Sarah Kunst 

On learning from the mistakes of others… 

“I started studying the Vanderbilt House, they were one of the first formative families in America, and they lost all their money. They tried to hold on to it, and that is a risk.” - Jesse Draper

On building wealth with purpose… 

“My main conclusion is that it is a lot harder to oppress people with money.” - Sarah Kunst

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What Does It Mean to Be a Minority, Women-Owned Business in the Online Space?

“Your voice and experience matter.”

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“A

ll women and girls should have the opportunities to achieve success, whatever it may mean to them, on their own terms.”

—Annie Chang, Brand Strategist and Co-Founder of Olea & Fig

Over the past few years, there has been tremendous growth for women-owned businesses and organizations that empower women. Given that Olea & Fig is a women-owned business that supports other women entrepreneurs, we have experienced notable growth and a surge in demand.

As we move forward in our entrepreneurial journey as minority women, we’ve also experienced the impact and power of coming together with the different communities we are part of—women, women entrepreneurs, Asian women, and Asian American women.

Your voice and experience matters.

With the growth of women-centered communities and conversations that support minority-owned businesses, we have had the opportunity to be part of many of them. As a minority who has experienced both eastern and western culture, education systems, and work environments, I understand the different expectations and perspectives of those who share similar backgrounds as us face. My co-founder and sister, Terrie, and I quickly learned that our voices matter in ways we didn’t expect. 

Everyone’s voice does. 

It is our responsibility to share our voice, knowledge, and story with other people who are going through similar experiences and who are members of our communities.

Through workshops, events, and conferences, we have shared our perspectives and insights on wrestling with societal expectations as immigrants, women, Asian American women specifically, and how we can challenge and break free of barriers and navigate those waters through the possibilities we create. These meaningful conversations, exchange of ideas, and connections allow us to support and grow with others in our circles.

Join others who also believe empowerment drives growth.

We believe that all women and girls should have the opportunities to achieve success, whatever it may mean to them, on their own terms and this is our Brand Vision since the beginning of Olea & Fig. To help promote equity for minority women, besides all the business resources we provide to women businesses, we have been proactively partnering with nonprofit organizations and businesses that advocate for women and girls, and some specifically for Asian women.

It does not matter which market you are in, define your values and beliefs, and build them into your brand. Then find others who also believe that empowerment drives growth and whose values align with yours, and collaborate creatively to make positive changes together. Multiply your impact through synergy.

Photo: Courtesy of Olea & Fig

Photo: Courtesy of Olea & Fig

Your identity is your superpower.

In our experience and the experience of many women we work with, being a minority often leads to self-doubt and issues with self-esteem. These are battles we’ve struggled with in both the corporate and the entrepreneurial worlds. It is common that we, the minority, choose not to speak our minds and not to draw much attention, but to fit into “the norm” or majority instead. I experienced all of it from my personal experience in school, the corporate world, and during the early stage of my entrepreneurial path. I was working hard to become the majority - the white kids at school, the male colleges who are also working to get that promotion, the high-energy, and glamorous brands that are popular online…

But that’s not who I am. 

The community we grew through Olea & Fig gave me an entirely different perspective. I learned that my identity as a minority is actually my strength. I saw that there is a huge community of women around the world who appreciate and share our backgrounds, ideas, and beliefs. I met women who also strive to create mindful businesses, to live intentionally, and to build a life filled with passion, impact, and meaningful conversations.

To unleash your true potential and possibilities, draw from all of your identities, experiences, and story. Turn all of it into your superpower. Turn them into your strengths and the uniqueness of your business, and build your identity and story across your messaging, mission, values, design, content, and beyond! 

About the Author: Annie Chang and her sister Terrie “had it all.” Fancy degrees, big corporate titles from the outside they were living the dream, but they were unfulfilled, burnt out, and tired of hustling for someone else’s bottom line. They left their corporate careers to start a business of their own, Olea & Fig. They leveraged their backgrounds in design and marketing and created a company that enables women entrepreneurs to build successful, growth-focused, and mission-driven brands.

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“Passion Isn’t Enough” and More Real-Talk From Our Beauty Summit Small Business Roundtable

A Priceless conversation with leading industry disruptors.

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Photo: Create & Cultivate

Photo: Create & Cultivate

Before COVID-19 hit, the beauty industry was valued at $532 billion and on a rapid upward trajectory. Now, however, in the midst of a global health crisis, experts predict that global beauty-industry revenues could fall by as much as 20 to 30% in 2020. But despite these discouraging stats, the beauty industry is resilient. During the 2008 financial crisis, spending in the industry only fell slightly and fully bounced back within two years.  

To gain insight into the current state of small business, specifically within the beauty industry, and to find out what the future holds for the category post-COVID-19, we partnered with Mastercard as the presenting sponsor to bring together four powerhouse founders who are at the helm of next-generation brands and disrupting beauty and wellness verticals at our recent Digital Beauty & Self-Care Summit on Saturday, July 25th. Mastercard recently surveyed the small business community with an eye toward championing diversity and learned that 41% of respondents started their business to set a positive example for other aspiring entrepreneurs.

Ginger Siegel, the North America Small Business Lead at Mastercard, led a conversation with Shontay Lundy, founder of Black Girl Sunscreen,Tai Beauchamp, co-founder and CBO of Brown Girl Jane, Rochelle Graham-Campbell, CEO and co-founder of Alikay Naturals Africa Miranda, author, host, and founder of Beauty by Africa Miranda, to dive into the topic. Scroll on for the most memorable real-talk moments from the conversation, and prepare to write these down because you’re going to want to add them to your vision board, stat.

On disrupting an outdated industry…

“A cosmetic product is supposed to make you feel good and look good.” - Shontay Lundy 

“There is a myth that Black people don’t need sunscreen and we’re here to bust that myth.” - Shontay Lundy 

On finding whitespace in a market…

“Pivoting is never easy, but oftentimes it’s about recognizing a void in the market and an opportunity to have an impact.” - Tai Beauchamp

On finding your purpose…

“Passion is not enough. Passion is necessary. Passion helps fuel the energy that you need to go at times when you don’t have the resources, capacity, or bandwidth. However, what should inspire you is finding your purpose and being clear about your intention.” - Tai Beauchamp

“The same way that a business has a manifesto and a mission statement, you should have your own personal mission statement, you should have your own personal manifesto, and then align that as you’re looking for opportunities in the market to build.” - Tai Beauchamp

On building a community…

“If you remain authentic with your audience and take them along on the journey with you, I believe that it builds loyalty that cannot be broken.”  - Rochelle Graham-Campbell

“I’ve shared my wins, I’ve shared my pitfalls. We’ve cried together, we’ve celebrated together. It’s a “we.” It really is a community.” - Rochelle Graham-Campbell

“If you are a business owner or a brand owner, you have to figure out if you want the responsibility of a community because you owe them more. You have more of a social responsibility to them and you have more of a responsibility to make sure that the actions that your brand is taking are not just a reflection of your own beliefs but also the beliefs of the community as well.” - Rochelle Graham-Campbell

On finding whitespace in the market… 

“Create something with your story and your approach. That does not exist. There will always be a space for that if you stay true to that.” - Africa Miranda 

On learning along the way…

“Respecting the process is a big part of the entrepreneurial journey. If you don’t respect the process, then being an entrepreneur may not be for you.” - Shontay Lundy 

On breaking into a controversial category…

“Being a Black-owned business focused on centering Black and Brown women, there are so many stigmas that exist within our community around CBD and a lack of knowledge and education.” - Tai Beauchamp 

“A part of our business model is that a portion of all our proceeds goes to support nonprofit and for-purpose organizations that center women of color around their mental health and wellness and the over-criminalization of Black and Brown people who have been incarcerated because of cannabis and marijuana.” - Tai Beauchamp  

On running a business… 

“There’s a big difference between starting a business and running a business.” - Africa Miranda 

On raising money for your business from your network...

“Utilize your network. There may be someone in your circle of family and friends who has been watching your journey and may be very willing to give you a small loan or a small gift to help you get started.” - Africa Miranda 

“We think that we need $10,000 or $100,000 to get started, but sometimes $1,000 or $500 can be the difference between an idea and actually starting a business. Be open to nontraditional sources of support.” - Africa Miranda 

On just going for it…

“I didn’t overthink the process and I didn't focus on my launch needing to go the perfect or traditional route, I just went for it.” - Rochelle Graham-Campbell

On running a self-funded business…

“We decided that, instead of focusing on what we couldn’t have, let’s focus on what we were making and just make sure that we manage our business finances just as strictly as we do our personal finances.” - Rochelle Graham-Campbell

“For every dollar that we spend, we have an ROI.” - Rochelle Graham-Campbell

“Every dollar I spend, I need it back.” - Rochelle Graham-Campbell

“If anyone is considering starting a business and self-funding, understanding your cash flow management is something that is extremely important. As early as you possibly can, hire an accountant or a CFO.” - Rochelle Graham-Campbell

On prioritizing e-commerce and DTC channels…

“A mistake that a lot of product-owned businesses make is they focus more on the retail channels and then they neglect their e-commerce. Your e-commerce is your direct connection to your people—to your customers and to your tribe—and you have to make sure that you’re nurturing that because retail can disappear at any time.” - Rochelle Graham-Campbell

On their Priceless money tip for small business owners…

“The first hire is a bookkeeper, accountant, or CFO.” - Tai Beauchamp  

“Know what you’re spending and be very intentional about it even as you’re building a business.” - Tai Beauchamp 

You should be very dangerous in every department, so know a little bit about a lot of things.” - Shontay Lundy 

“Fire yourself from every position other than CEO. Once you get your company to the point that you’re able to, it’s really important to take a step back and delegate to other people on your team.” - Rochelle Graham-Campbell

“As CEO you need to focus on money-making or brand-building and driving activities and not answering an email or filling out a form.” - Rochelle Graham-Campbell

“Prioritize. If you know you don’t have a large pot to pull from, then really look at where your dollars can go the furthest.” - Africa Miranda 

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This Is What Founders of Successful Companies Wear to Work From Home

Anine Bing, Babba C. Rivera, and more on their WFH style.

As we enter yet another month of coronavirus-induced telecommuting, it’s certainly no secret that working from home (in the midst of a pandemic, no less) calls for a very different dress code than working from the ole office swivel chair. After all, signing online for a virtual Zoom meeting doesn’t exactly require the same sartorial standards as walking into a boardroom meeting, especially when you take into consideration the fact that staying healthy is (and should be) priority #1 right now.

Now that our business-as-usual attire has been relegated to the backs of our closets, we reached out to founders of successful companies to find out what they’re wearing to work from home during COVID-19. Ahead, Babba C. Rivera, the founder of the brand marketing agency ByBabba, Anine Bing, the founder and chief creative officer of Anine Bing, Blair Armstrong, the founder of the lauded beauty brand Gilded, and more divulge their WFH style staples they’re turning to day in and day out.

What's your personal style? 

Very laid back, clean, and classic. I typically reach for jeans and a T-shirt or sweater depending on the weather. I know it’s an unpopular opinion, but I find jeans comfortable! I’ve collected my favorite pairs and could wear them every day in any situation.

What are you currently wearing?

Even though I’m working remotely, I like to get dressed in the mornings to keep a routine. Right now I’m wearing Levi's 501 jeans with a J.Crew popover shirt.

What's your go-to outfit for big meetings from home?

It truly depends. In a formal meeting, I would wear a suit (I’ve kept a few of my most comfortable suits from my consulting days), however a lot of my important meetings are business casual, so a dark pair of jeans and a simple blouse are my go-to’s.

What's your personal style? 

“Fashion meets business with a lot of colors and a playful Scandi vibe.”

What are you currently wearing?

“Right now, I am alternating between leggings-and-blazer looks or very colorful, more fun Scandi outfits to boost my energy.  Peak Performance leggings, paired with a Ba&Sh blazer and a tee from Jeanerica. Or Stine Goya pants and top.”

What's your go-to outfit for big meetings from home?

“Suits are my go-to, but during quarantine times I've tweaked it slightly by pairing blazers with leggings, so that I still look and feel polished for video conferences, but can simultaneously be ready for a midday workout through Instagram LIVE.”

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Ariyana Hernandez

Co-Founder & CEO, NORA the agency

What's your personal style?

“My personal style is very fluid, typically predicated on how I'm feeling in the moment. Generally, I gravitate towards unique stand-out pieces that make a statement and have a strong penchant for airy neutrals. If I had to wear one style for the rest of my life it would be minimalistic resort wear—lots of linens and crushed silks.”

What are you currently wearing?  

Currently wearing a silk cami, a lounge set from Shaina Mote, and Objet Pendant from J. Hannah Jewelry. I love that Shaina Mote's pieces are timeless staples, super comfortable, and sustainably produced in Los Angeles.”

What's your go-to outfit for big meetings from home?

“I can't bear to be uncomfortable while working from home but I still want to look professional (at least from the waist up)! I opt for a statement blouse or a loose jacket, simple gold jewelry, and lounge pants.”

Founder & Chief Creative Officer, ANINE BING

What's your personal style?

“Timeless style with a rock n' roll edge.”

What are you currently wearing?

Florence Jeans. I've been wearing these jeans so much lately—they're so comfortable. It almost feels like I'm wearing sweatpants but the fact that they're denim, they make me feel so much more put together. Milo Tee. Everyone knows I love a crisp white tee, this one pairs perfectly with my Florence Jeans. Fishbone Blazer. Our Fishbone blazer is always my go-to. Getting up and getting dressed in the morning like I normally would to go into the office has helped me be more productive while I'm working from home.”

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Founder & Designer, Printfresh

What's your personal style?

"Eclectic would probably put it best. It’s very dependent on how my morning starts off and what I’m up to. I’m also an aspiring (and failing) minimalist. Working in design, I’ve found that a bold outfit can really influence the color choices, pattern sensibilities, and other design preferences of the people around you. So when working with others, I tend to dress more simply, choosing neutral solids over bright prints. However, working from home has really changed that."

What are you currently wearing?

"Luckily we design and make pajamas, so wearing sleepwear during our weekly Zoom call with the team is totally appropriate. I alternate between wearing a full set and then sometimes mixing PJ bottoms with a sweater or a comfy solid or Grateful Dead tee (the only graphic tees I own). Our Blush Bagheera and embroidered Daughters of Triton styles are my personal favorites from our pajama collection.”

What's your go-to outfit for big meetings from home?

"Since our team is super small and we’re currently working remotely, these days I almost always choose to wear pajamas to our meetings. But if I’m feeling fancy I’ll do my hair and put on some of our little stud earrings that are easy for wearing at home and small enough that you can sleep in them (which is always a bonus!).”

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Founder & Designer, Soluna Collective

What's your personal style?

"I love a good contrast, so I am always pushing the boundaries with how I style my clothing. Tight-fitting pants call for an extra loose top in my book and vice versa—bonus if texture and patterns are included in the mix. I like to build my wardrobe with simple silhouettes that can be paired with almost anything, the fun part is layering the different pieces! Layers are also essential living in Portland, where an afternoon sprinkle is to be expected, so I almost always carry an oversized jacket with me that can be thrown on at the slightest sight of rain. One of my favorite pieces to layer is a Woolrich jacket that used to belong to my grandma, and her brother before that. It's a rich royal blue color with a boxy fit, it adds the perfect pop of color and texture to any outfit. Finish the outfit off with wide-leg pants and a pair of boots and I call it good!”

What are you currently wearing?

“I am currently wearing our natural waffle pants (seriously the coziest work from home pants!) paired with a crop tank and an oversized vintage Pendleton shirt for an extra layer. During this period, where I have been home more than ever, I have found comfort in soft and cozy layers.”

What's your go-to outfit for big meetings from home?

“For big meetings, I like to keep it simple. My favorite top to wear is actually from our new collection; the Wrap Jacket in Spruce Green Waffle. It has a belt that can be tied around the waist for definition and the textured waffle pattern provides an element of interest without being too distracting. I like to pair it with a wide-legged pair of pants, heeled boots, and statement earrings to finish the look.“

What's your personal style?

"My personal style is feminine, elegant, and classic. I prefer well-crafted, timeless, and transitional pieces. My wardrobe is 99% dresses and skirts that I pair with complementary jewelry."

What are you currently wearing?

"I am currently wearing BCBG tanks. They are so lightweight and comfortable and I’ve been pairing them with my Alexander McQueen trousers."

What's your go-to outfit for big meetings from home?

“My go-to for big meetings are power skirt suits and dresses.”

What's your personal style?

"I would say my personal style is pretty laid back beach vibes."

What are you currently wearing?

"I am currently wearing a white summer dress from Cleobella along with some of my favorite espadrille slides from Soludos."

What's your go-to outfit for big meetings from home?

"For big meetings, I really just go with the flow of how I am feeling that day but a dress like today or midi skirt with a cute top is usually my go-to!”

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Founder & Designer, Port de Bras

What’s your personal style?

"I’m laid back, so a tailored casual outfit that looks effortless but still makes a statement is a style that works for almost everything.”

What are you currently wearing?

"I’m so into these Chanel sandals I purchased from Farfetch through my personal shopper @paulaco_style, paired with our soon to be released summer capsule items—the Carla Top & Shorts. They are dressy and fresh, perfect for a sunset drink with friends."

What’s your go-to outfit for big meetings from home?

"Anything with the Port de Bras Shay Jacket. I designed it especially for meetings and now to WFH. They look amazing paired with our Jazmin Pants but can also work over a summer dress or even a bikini!"

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Founder & Chief Exercise Officer, Pretty Girls Sweat

What's your personal style?

"Sporty chic.”

What are you currently wearing?

PGS tees, Zara high-waisted pants, Kenzo sweatshirts, Nike sweatpants, UGG slippers.”

What's your go-to outfit for big meetings from home?

“Black Gucci blazer, simple tank from naked wardrobe, sweat pants (since no one can see them on a zoom call), and statement earrings.”

Founder & CEO, Parachute

What's your personal style?

Comfort has always been my top priority when I’m getting dressed. I live by the beach and my style is definitely inspired by the outdoors. You’ll find me in an unfussy t-shirt, sweater, and Levis, or one of my go-to dresses. Much like Parachute’s aesthetic, I tend to gravitate to a neutral color palette and look for quality fabrics.”

 What are you currently wearing?

“I am currently in my Cloud Cotton Robe in Rose.”

 What's your go-to outfit for big meetings from home?

We are pretty informal at Parachute. We make home essentials that are designed to be enjoyed and lived in, and our dress code is an extension of that laidback and welcoming brand ethos. For big meetings, I’ll throw on a pair of slacks and a leather jacket. I recommend having a big meeting uniform–one less thing to think about.“

What's your personal style?

“My personal style is always evolving, but I have an affinity for cropped trousers, a great blouse, and the perfect brogues or loafers—but right now, it's about staying comfortable throughout the day while working from home. While I typically always have a CV bag by my side, right now, it's the Emma in Yellow, a bright spot that I wear crossbody—it's the perfect size to keep my phone with me at all times, which has never been more important.”

What are you currently wearing?

“Currently, it's Richer Poorer sweatpants and our Blue Long Sleeve Hoodie with Poppy Jaguar Print.”

What's your go-to outfit for big meetings from home?

“Right now, since all of our meetings are on Zoom, it's typically business on top and cozies on the bottom. I have a soft spot (literally) for Richer Poorer sweats and my soft knits from The Great, and when I want to feel a bit fancier, I'll throw on a dress from Ulla Johnson or Doen. And always socks with Birks for walking around the house.”

What's your personal style? 

Elevated streetwear/creative professional.”

What are you currently wearing? 

“An Asos blazer,  Urban Outfitters hoodie, and Amazon Fashion biker shorts.”

What's your go-to outfit for big meetings from home? 

“Throw on a blazer over loungewear and it's instantly business casual. Some of my favorite loungewear items: Mayfair Group hoodies, Vida Moulin tie-dye loungewear sets (option 1 + option 2), and Asos blazers (option 1option 2.)”

Founder & CEO, Crown Affair

What's your personal style? 

“My style is fairly simple and leans towards the casual side (even before we were all WFH!). I live in sweaters, denim, leather pants, silky wide-leg pants, and favorite vintage t-shirts and tanks. I'll usually pair that with a blazer or jacket to pull it all together. I like having my uniform, but then having variations on it that are a more playful, like tie-dye cashmere sweater instead of a neutral.” 

What are you currently wearing?

“Right now at home, I'm here for something that feels like you're wearing PJs, but doesn't look like it. I've been living in these black Serena Pants from Billie the Label. They're so comfortable and I like wearing an actual pant when working during the day. I paired it with this neutral but playful cardigan from Jacquemus. Comfy enough to wear all day at home, but still feel like you got dressed for work. Taking a few moments to change from loungewear to a more pulled-together look has been helpful in creating new structures and separate my home and workspaces. I usually only wear Birkenstocks in the house, but I just ordered these Chuck 70s, so I've been wearing them inside to break them in a bit.”

What's your go-to outfit for big meetings from home?

“As all meetings have been officially relocated to a Zoom link, it feels more natural to not get too dressed up even if you would wear a blazer for that same meeting IRL. Right now I've been wearing cashmere sweaters and I'll add an earring or necklace to make it feel more polished.”

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Founder and CEO, Malai

What's your personal style? 

“My personal style is comfortable but professional. I have a shop, and I'm often moving boxes around, and have to make sure that I stay comfortable. But my day also always involves speaking to vendors and investors, so I need to look professional. My style combines both of these things.”  

What are you currently wearing? 

“When I am not in my Brooklyn ice cream scoop shop, I am comfortably working from home in a Malai T-shirt with Lou & Grey linen pants. Our Malai tees are made with the finest California grown Supima cotton, and so incredibly comfy. The best part is that the T-shirts are created by my parents, who have owned their own textile company for the past 20 years. Their entrepreneurial journey and support has always inspired mine, so it brings me great joy that our businesses are united with our Malai T-shirts. Lou & Grey is my go-to brand for comfortable yet chic clothes. Their sunny-hue reminds me of saffron (one of my favorite spices that you find in our ice cream), and the airy texture keeps me calm during long days of our busy summer months. Most of all, they still make me feel super put-together (which is great when I have to jump on a video call or run down to the shop). While working from home, I basically have a rotation of both of these things: Lou & Grey pants and Malai tees!”

What's your go-to outfit for big meetings from home? 

“When I actually need to get dressed up, I wear a Tory Burch dress from their pre-fall 2018 collection.  It's light, airy, comfortable, and most importantly, makes me feel happy and confident (key for any business meetings). I was a 2018 Tory Burch Foundation Fellow, a fellowship that supports women entrepreneurs and provides them with a resource and network. I honestly think of my fellowship experience every time I put on that dress, which made me feel ready to take on the world.”

What's your personal style? 

“My personal style is a mix of high and low, and feminine and masculine. I love wearing baggy, high-waisted jeans with a spaghetti strap top, or a delicate dress with a men's cut corduroy jacket. I tend to stick to black, brown, white, and navy as my primary colors I wear.”

What are you currently wearing?

“Right now I'm mostly wearing sweatpants, just like the rest of the world. I love this Target brand I found on a recent trip to their headquarters in Minneapolis called Joy Lab. Everything is so soft and really affordable.” 

What's your go-to outfit for big meetings from home? 

“I like to wear a nice sweater and pull my hair back from my face in a nice bun. Definitely looks presentable and polished!”

What's your personal style? 

“Chic, but I also love a good sporty and comfortable outfit.”

What are you currently wearing?

“Forever 21, Forever 21, and Forever 21.” 

What's your go-to outfit for big meetings from home?

“Typically a really cute top with a very casual bottom (no one would ever know!).  I also love The Mayfair Group and Vida Moulin they both have great options for work from home attire. ”

CEO & Creative Director, Same Los Angeles

What's your personal style?

My personal style is always changing! Right now, I’d say it’s very classic and chic but with an effortless twist. My style is always confident, that’s one thing that never changes.”

What are you currently wearing?

Loungewear, but not pajamas! If I stay in the same clothes that I sleep in, I end up being less productive when working from home. But I’m also realistic and why would I dress up if I have nowhere to go and no one to see? So I’ve been wearing mainly cute loungewear sets! If I have to do a video conference call I’ll change my top to look professional, but leave my cozy pants on bottom!”

What's your go-to outfit for big meetings from home?  

“A chic pantsuit. There’s something powerful and confident about a woman in a suit! I usually add a fun twist to make it modern and cool- whether that be a pop of color purse, a loose tee, or white sneakers.”

What's your personal style? 

“Comfortable, minimal, boho, relaxed, with a pop of color.”

What are you currently wearing?

My go-to outfit is a comfy bralette and sweatpants from Aerie with a headband or hair wrap.

What's your go-to outfit for big meetings from home?

“I love to wear my favorite Everlane tee with a statement pair of earrings from Arlo Jean, probably with the same sweat pants.”

Co-Founder & Chief Digital Brand Officer, Summersalt

What's your personal style? 

“My personal style is casual, modern, comfortable and polished. I love being incredibly comfortable in jeans, a great pair of sneakers but with a structured sweater or shirt.”

What are you currently wearing? 

“I'm wearing my Summersalt Joggers and a white T-shirt from AYR. The perfect at-home look but still somewhat pulled together!”

What's your go-to outfit for big meetings from home? 

“My go-to outfit for big meetings is usually a pair of jeans or pants that I feel incredibly confident in, a white button-down, gold bangles, and a pair of heels or sneakers. I have quickly learned that being confident and comfortable is the most important in big meetings, as opposed to trying to fit a predetermined norm. I'm not one for formal business attire.”

Lori+Coulter

Co-Founder & CEO, Summersalt

What's your personal style? 

“My personal style is modern classic but with a twist.”

What are you currently wearing?

“Today, I'm wearing jeans and a black T-shirt with Summersalt's Throw-and-Go Duster—my go to for my work from home routine.”

What's your go-to outfit for big meetings from home? 

“For big meetings, I love wearing the perfect blouse and Summersalt's Perfect Wide Leg Pant (sometimes a blazer) with my favorite Sarah Flint heels.”

Founder of Comme Si

What's your personal style?

“Menswear-inspired, classic with a twist. I like to wear clothing that's well-tailored and made from substantial materials; I prioritize comfort and softness when I buy things. My typical outfit recipe is a monochromatic or neutral base with colorful and fun socks, shoes, jewelry, and accessories to spice things up.”

What are you currently wearing?

“Lately, the concept of getting dressed revolves around whether I have a video conference that day or not. On days that I do, like today, it's business up top, comfortable on bottom. I'm wearing a Thomas Mason men's button-down (I like to shop from the men's department for a perfectly oversized fit), a pearl necklace, Hanes boxers, and cashmere Comme Si socks (ultimate WFH luxury). It's very Tom Cruise in ‘Risky Business’ meets Grace Kelly in ‘To Catch a Thief.’”

What's your go-to outfit for big meetings from home?

“For big meetings, I don't really deviate from my everyday style because I want to feel like myself, comfortable. You can tell when someone has dressed outside their norm, and they exude discomfort; I try to avoid that feeling. My go-to is a navy cashmere sweater with tailored navy trousers and clean sneakers.”

What's your personal style?

Colorful and fun.”

What are you currently wearing?

I am in Maine and currently am wearing Megababe x Day/Won Leggings and a J.Crew Tie Dye Sweater. On my face, I am masking with Megababe’s Le Tush mask, which is facial grade, so I can use it on my face!”

What's your go-to outfit for big meetings from home?

My go-to look is a Veronica Beard blazer. For summer, I will pair it with a Katie Sturino x Stitch Fix dress and a Lele Sadoughi headband.”

Co-Founder & Co-CEO, Hilma

What’s your personal style?

"I have actually never been asked to describe my personal style before, but I guess I would articulate it as casual but kind of modern? Is that a thing?! I am often wearing jeans and T-shirts but in varying degrees of nice. I will dress myself up or down based on accessories like earrings, shoes, and a blazer or sweater."

What are you currently wearing?

"Currently wearing old Acne Studio Jeans that I got seven years ago, an oversized Isabel Marant sweater that I love, and no shoes. I usually never work from home, but given today’s circumstances, that is obviously the new norm. For me, it is important to be really comfortable but to also not just be sitting in PJs all day."

What’s your go-to outfit for big meetings from home?

"I am big on jeans, a crew neck T-shirt, a blazer, and a great flat or stacked heel. I keep my blazers for years (I even have one from when I was 16 and interning at Theory) and wear them over and over."

Brett+Heyman

Brett Heyman

Founder & Creative Director, Edie Parker and Flower by Edie Parker

What's your personal style? 

"My personal style is comfortable. But before this pandemic, I did have a better relationship with a waistband. Not so much anymore." 

What are you currently wearing?

 "I’ve been wearing knit sweat pants for the past ten days—mostly from Alexandra Golvanoff. I feel like I haven’t given up completely. Today, I decided it would be smart to put my jeans on to make sure they still fit. It wasn’t great, so I settled on my trusty pair of oversized vintage 501s. It’s a compromise. My hemp Edie Parker flower tee is warm and cozy, and my Elder Statesman socks make me feel like all will be okay in the world."

What's your go-to outfit for big meetings from home?

"I don’t have a go-to outfit for meetings. I’m pretty much always in vintage jeans and a sweater or blouse. But if I have to look a little more presentable, I’ll throw on some earrings and a kitten heel."

Founding Partner, Sol de Janeiro

What's your personal style?

“Casual and chic. I like my outfits to seamlessly take me from work to dinner out with friends or a date with my husband. I always wear jeans with a fun top and cute flats. I love making my outfits super colorful.”

What are you currently wearing? 

“I am wearing Lululemon leggings with a fun and colorful T-shirt. While working from home, I need to be comfortable because my ‘office’ moves from the dinner table to the couch, to my bed.”

What's your go-to outfit for big meetings from home?  

“I basically wear what I usually wear and take it up several notches with high heels, a tailored jacket, and statement earrings and necklaces. Also, more eye makeup and more fragrance! I love working at Sol de Janeiro because we’re very colorful, which is exactly my personal style.”

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We Need to Talk: How I Dealt With Founder Depression and Came Out on Top

Never doubt the underdog.

We Need to Talk is a bi-monthly, anonymous series, where contributors share stories about business, life, and the stuff we don't like to talk about.

Photo credit: Laura Dee

“Worse than losing competence is losing the ability to even tell if you are competent or not.” 

It was a sentence I circled around for what felt like twenty minutes. Once I got to “not” I’d find myself back at the start with “worse.” 

Not worse. Not worse. Not worse. It began to feel like a mantra where I was trying to convince myself of a feeling opposite of what was happening. I’m “not worse” than I was a year ago. I’m “not worse” than anyone else in my position. Except, I was; at least I felt so in this particular moment.

The piece was written by Hanna Rosin for Lenny Letter. She was chronicling her switch from a 20-year career as a working writer to radio—a medium which she had no experience in. She then found herself back at career ground zero. Now, she is a co-host of the NPR show Invisibilia. It was a bold switch she made in her ‘40s and I was nothing short of envious.

Especially to me, founder of company "X," devouring her words while simultaneously spooning Honey Nut Cheerios into my mouth and wondering, what if I gave it up all too? What if I said screw this entrepreneur thing, the pitching, the selling, the sweat and tears, and pumping my own money into company "X" for the last five or so years, and started over? Would that even be possible? It’s one thing to switch careers, but to shutter your own baby? I don't know, I whispered to myself, I just don't know. Not. Worse. You're not worse. 

The last statement is not untrue. My company is profitable, though small. I employee 7 people. They have health insurance and paid vacations and I do the right thing by them. I feel respected by other business people and can hold my own in a conference room full of investors. On the other hand, I feel a wave of uncertainty. 

It's a feeling often pegged as "impostor syndrome." When you're not sure why or how you've made it and that soon those rose-colored glasses through which everyone sees you, will become less rosy and more mossy. They'll see that you don't have the experience, the foresight, and will challenge that you are charging exorbitant prices for your services. (Stick to your money guns, you're not. There's a reason someone paid you XYZ to start—you're worth it). 

In some cases, impostor syndrome can manifest into something far less talked about: founder depression. They don't talk about it in business school or boardrooms. Women certainly don't seem to talk about it in front of male peers. From what I've seen, they don't even like to talk about it in front of other female founders. But why? What is founder depression and why does it hover like a grey cloud over your professional and personal life?

Starting a business takes a leap of confidence. It’s you telling the world, “Hey, you need this service or this product and I am going to be the one to deliver it to you. Me. Out of the 7.125 billion people on the planet, I have the ability to solve this problem for you…" That’s no small undertaking. And the outcome of all your hardworking and determination to make you company successful may not always end in happiness or perfection. In some cases, it is common to develop a form of depression that is hard to shake. And how does that affect your confidence and ability to sell yourself as a business owner and your product? Telling someone you're depressed feels like the opposite of both confident and competent. Especially as the leader of a business venture that you’re trying to sell to the world. Scary, right?

No one, not even your best, most trusted employee, will care as much as you do about your vision for your business. There are days when you’re completely disheartened, as if the anxiety is a tide waiting to pull you under and all your doubts pull you to the bottom of the ocean. There will be nights when you stare at the ceiling wondering why you started the business in the first place and there are moments where you lose the ability to discern if you’re competent or not.

"There are moments where you lose the ability to discern if you’re competent or not."

Tweet this. 

There is no worse feeling—the feeling of incompetence. But it's also temporary.  (You should also talk to other founders and understand that this feeling, this doubt, this low—is completely normal.)

As a female founder, you don't want to be perceived as weak. Beyond that, no one wants to feel weak in their leap of faith to launch your own business. I’m telling you to reconsider that feeling. Doubt should be used as a driving force rather than a setback. It’s our missteps that make us stronger. It is our weaknesses that make us reevaluate our strengths and propel us forward.

Look. Here’s what happens on a bad day: an employee quits, three deals blow up in your face, and your dog runs away. You feel completely alone; solopreneur for life. 

Here’s what happens on a good day: homeostasis. 

Here’s what happens on your worst day: your business folds.  

Here’s what happens on a great day: you land an account, something that has been pending for months gets SIGNED, Forbes sticks you on 30 under 30, the most talented copywriter comes to work for you, and your grandma calls to tell you she’s proud.

And that is when you realize, you're "not worse." No. Quite the opposite.

"You are competent." You are brilliantly competent. 

This story was originally published on June 26, 2016 and has since been updated.

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Jen Rubio—Co-Founder of the Billion-Dollar Start-Up, Away—Covers Inc. Magazine

Going the distance. 

The new disruptors. 

Jen Rubio, co-founder and creative director of Away says that “When you're starting a business for the first time, you're doing everything for the first time.” It’s a perfunctory explanation as to why startup founders struggle. The ins, the outs, the ups and downs; it’s turbulent. But Rubio along with her co-founder Steph Korey have weathered the storm and come out on top.

The company (which made the Forbe’s 2018 Next Billion-Dollar Startups list) was recently valued at $1.4 billion after raising $100 million. Last year, the company was on track to do $150 million in revenue and was valued at roughly $700 million. So it only makes complete sense that Rubio would be on the cover of Inc. Magazine today.

She shared the exciting news on her Instagram, graciously congratulating the team at Away for the achievement.

“This cover is for @stephkorey, team @away, all of our customers who rolled with us through the airline battery ban and continue to spread the love, everyone who said we couldn’t do it, everyone who said we could obviously do it, my mom, my dad who would’ve driven all over NJ to buy all the copies, and for every single entrepreneur out there—regardless of your background or pedigree or MBA or no MBA—who is busy doing the work and making things happen. Grateful to the wonderful team at @inc and @youfoundchristine. Cover photo by @tawnibannister”

But when Jen and her co-founder, Korey, both former execs at Warby Parker, left to launch Away, they knew that luxury travel accessories needed retooling and they were ready for a bumpy ride. Dedicated to a piece of luggage for the way "people really move" that didn't come with a first class price tag, the first product was a beautiful, high-end minimalist carry-on without the zeros. Away made traveling in style a whole lot easier. Vogue called it, “the perfect carry-on.” Forbes 30 Under 30 took notice. They had accolades in the bag, but they didn't stop there.  

Away now offers varied sizes and chic travel accessories. Steph says the goal is to “be a part of the company that’s the first thing anyone thinks of when they have travel needs.” They're changing how we travel, one charged up suitcase at a time. 

Read a little about their journey below. 

What is the most important step you took this far?

Steph: I made it a point at every step in my career to always look for opportunities to go above and beyond. That mentality really prepares you for all the unexpected challenges that come your way when starting a business.

Jen: Having conviction in an idea and committing to seeing it through all the way.

What keeps you going?

Steph: Coffee? Just kidding, the biggest thing that keeps me going is the excitement for the game changing travel company we're building and the mind-blowing members of the Away team who constantly inspire me.

Jen: Relationships. I'm energized by people and conversations and am at my most creative when I find myself really connecting with those around me.

What is the best piece of "real talk" advice you've received?

Jen: "You will never be great on your own if you don't learn how to work with other people." That snapped me out of my early 20s "I can do it all" hubris and got me thinking about how to be a team player and people manager. 

Steph: "Hire slow, fire fast. Better have a hole than an a-hole." - Neil Blumenthal, Co-Founder and Co-CEO of Warby Parker

What are some challenges you’ve encountered along the way?

Steph: The list goes on and on. If you push yourself in your career, you're constantly being challenged because you're always taking on things that push your boundaries. I wouldn't have it any other way.

What is your favorite life advice?

Jen: "Ships are safe in harbor, but that's not what ships are built for." Take the risk!

What is a habit or routine you swear by?

Steph: My clothes all look pretty similar to each other: black, white, grey, denim. Taking out the day-to-day thinking about clothes frees up brain space for other things.

Jen: Every night before bed, I think of five things from the day that I'm grateful for. Gratitude is a practice.

International Women’s Day is coming up. It's a global day celebrating the social, economic, cultural and political achievements of women. If you could steer the conversation around International Women’s Day, what would that dialogue be about?

Jen: I'd want to highlight the disparity between the opportunities of women in different places around the world and bring attention the the incredible, resilient women I've met in the Democratic Republic of Congo, Rwanda, Haiti, etc. and their stories.

Steph: That the goal should be to one day stop celebrating it because men and women are so equal across the whole world that there would be no need.

What does female empowerment mean to you?

Steph: Historically, women haven't always had the same legal rights as men. It's really in the last generation that it became socially acceptable for women to have the same career potential. To me, female empowerment means reminding women that if any person can do something, so can they.

Jen: Being open, honest, and vulnerable with the women I call my friends, and as a result, encouraging each other to do better and enjoy the process.

What do you do to support other women, either professionally or personally?

Steph: I treat them the same as men, both personally and professionally. The whole point here is that people are people, so when it comes to hiring, promotions, or supporting your friends, everyone should get the same great support.

Jen: I try to be active in mentorship, panels, and discussions that help women, and while doing so, try to be as transparent as possible about my own experiences.

This article is part of our Create & Cultivate 100 List created in collaboration with KEDS, you can view the full Entrepreneur List Here. This post was originally published on January 23, 2017, and has since been updated.

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Career, Advice, The Conference Arianna Schioldager Career, Advice, The Conference Arianna Schioldager

How This Founder Raised A Total of $67 Million For Her Company

Two women putting it all on the line. NBD. 

Susan Tynan, founder and CEO, Framebridge 

Jaclyn Johnson, founder and CEO of Create & Cultivate and Susan Tynan, founder and CEO of Framebridge first met at Create & Cultivate DTLA right before they hopped on stage together. But they vibed immediately. 

There are commonalities that bond entrepreneurs and startup founders. A deep understanding of the hard work, sleepless nights, and putting it all on the line. So the two decided to have real-talk and share it—because that's what we at C&C are all about. 

Since their initial conversation, Framebridge has managed to raise an additional $30 million of funding. This brings Framebridge's total raised to $67 million after the company recently closed a Series C round of funding. 

Create & Cultivate: As a female CEO, what was the process like for raising a round of $30M for the company?

Susan Tynan: Now that we have a real business, what we've built speaks for itself. We raised $30M because we built a business that consumers love. Every nuanced detail we sweat creating this business translates to successful fundraising. Some people might be able to raise based on swagger, but we did because we built something fundamentally good.


Do you have any advice for women who plan on meeting with investors for their business?

Susan: Yes! Paint the big picture. Women have a tendency to be really credible about what we can achieve in the near term. Make sure you're presenting how big of an idea your business and your conviction in leading it.

Learn more business tips from Susan & Jaclyn below.


JACKIE: I like to jump right into things. I think most entrepreneurs do. So can we talk founder-to-founder for a moment about the hard moments? The ones where you know you need to pivot, but you have no idea what direction to turn? What do you do in those instances?

SUSAN: You can turn to a lot of people for advice - and I do - but, at the end of the day, the hardest decisions are yours alone. It's important for me to anchor myself in the basics of the business and review, "Why did I found Framebridge? What are we providing customers? How can we keep getting better? What type of organization did we want to build?" I work through most issues by reviewing the fundamentals. Then the answer usually emerges. And I SoulCycle! A 45 minute loud-music workout sorts out a lot for me, too.

JACKIE: Totally. Everyone always talks about needing to answer the ‘WHY,’ in a simple but compelling way. Sort of like an elevator pitch to yourself. It’s definitely not easy in the moments when you can’t answer that.

SUSAN: What are some other big challenges of running your own company that took you by surprise? Was there one big piece of advice you wish you had earlier?

JACKIE: There were SO many. Everyone warns you, this will take over your life and you will work harder than you’ve ever worked before, and there’s a part of you that doesn’t believe it entirely. And maybe if you did believe it, you would never do it. I imagine that’s how people feel about their first kid. Lack of sleep and nonstop travel are both tremendously challenging. So is feeling like no one will ever care as much as you do— and the truth is, they won’t.

I wish someone had told me to get everything in writing. And I mean everything. You live and learn and sometimes that means losing money because you thought spit and a handshake were binding. Newsflash: They’re definitely not.

JACKIE: What was the most surprising part of starting a business for you?

SUSAN: I was surprised by how many people thought I was nuts to try. I left a great salary and a career that looked pretty linear. But what if it doesn't work? So, what? The truth is, I cannot imagine a way I could have grown more personally than by starting this business.

"I left a great salary and a career that looked pretty linear. But what if it doesn't work? So, what?"

Tweet this. 

JACKIE: What was the hardest?

SUSAN: The hardest time - by far - was the period just before we launched. We had raised some money and we had made some big bets - on a warehouse, on our custom packaging, on our site design. And, yet, we didn't have customers! That felt terrifying. Now, everything is based on what we know our customers want. It's much easier, at least psychologically. What has been harder than you expected? What has been easier?

JACKIE: We've never raised money and that’s been both a blessing and a stressor. We’re not beholden to investors, but that also means I’m responsible for making this thing work. Me? I have a company and employees and this amazing community of women who turn to us for career advice… that’s the best feeling, it’s also the scariest.

Jackie (center) and Susan (far right) on panel at CreateCultivateDTLA. 

JACKIE: Let’s shift for a minute from scary to fun. Because this world is fun. You have an idea. The idea starts to take shape, becomes a business, and before you know it, that one idea has snowballed into something HUGE. What was the moment like for you when Framebridge went from idea to reality?

SUSAN: So, the truth is we have no time for reflection. I try to force reflection on other team members so I have a chance to reflect too. Just this week I made Tessa, our Creative Director, take a moment and say - "We're shooting a TV ad - in real life!!"  And, on Cyber Monday last year, we blew away our sales projections and we all went out together. I'll always remember that night, being with that group, and celebrating together. What was your turning point or moment that made you decide to take your idea and turn it into a real business?

JACKIE: I looked around and I didn’t see want I needed. That’s where almost all entrepreneurship is birthed from. I was running (No Subject) and felt a little lost, a little confused by all the moving parts of business, especially those where I was a novice. I started Create & Cultivate as a side project. The response was so overwhelming that I knew it was going to be something big, IF, and this is the big IF, I was willing to commit. Things don’t blow up because they stay a side hustle. If you expect people to get something out of your business, service, whatever it is, you need to be willing to put your heart into it. You can half-heart a side hustle, sure, but if you give it your whole heart, you give yourself the opportunity to create something bigger.  

I think that’s also so important to point out. Committing to your idea gives you the opportunity, it doesn’t mean you will succeed. No matter how hard you work. That’s advice I wish I had early on too and I think is important for our community to understand.

"Committing to your idea gives you the opportunity, it doesn’t mean you will succeed. No matter how hard you work."

Tweet this.

SUSAN: In a short amount of time you have managed to create an unbelievable community of likeminded women from all over the world. For some young entrepreneurs it can be intimidating to network - any advice on making connections that last?

JACKIE: I think it’s intimidating to network because of the feeling of impostor syndrome. The feeling that you don’t belong or you haven’t earned your seat at the table. That comes and goes in waves. Make connections last by believing that you have something important to say and that people want to listen. But also, make sure you’re adding to conversations. That will keep you top of mind. Everyone has impostor syndrome. At least all of the female founders I’ve spoken with and the ones who move through fear are the ones that move the needle and make connections last. 

SUSAN: Well, for sure, I relate on impostor syndrome and the isolation of being a founder. It's weird because you signed yourself up for it, but then you have so much responsibility and no one to turn to. Framebridge employs 120+ people (including 100 more seasonal employees) and they are able to take trips and buy houses and grow their families because of Framebridge. That's incredible.

JACKIE: Speaking of seats at the table, how do you feel when you walk into a boardroom or a huge meeting? Do you feel influential? Powerful? Like you’ve earned your chair?

SUSAN: Good question! I've gotten so much better at these meetings. I'm talking about my business and I know the most about this business and I truly, deeply believe in it. So, it's easier to be confident. And I always play pump up music before I go in (Lose Yourself, Eminem and the mellower Adventure of a Lifetime, Coldplay). And, cheesy, but true, I always do a power pose or two in the elevator.

JACKIE: Cheesy is necessary sometimes. We love a good AM jam around here. And power pose is strong. That’s something that produces actual results. I love a good pep talk too. 

Framebridge at CreateCultivateDTLA

JACKIE: So we do a lot of “real” talk at C&C because it’s important for women to know they aren’t alone, but it’s also important for them to know about the exciting and "everything is possible" side of owning a business. What are the good moments for you? What makes it all worth it?

SUSAN: Customer stories get me choked up. Because I dreamed that if we built this, people would frame special items and they do - things that make them proud or happy or make their friend laugh. I truly get a kick out of each customer who thinks of a creative thing to frame.

JACKIE: I know, I get inspired by conference attendees and women we meet through our platform. That was the whole point—to create a strong social network of women helping each other. There's no feeling quite like it. Speaking of social what do you think is the future of social? Where is it heading?

SUSAN: Well, I think the coolest thing about social is that it self-polices. You have to produce good content. I think that will continue to be the case and maybe even get more competitive. It's very cool that it's not like you can blast out your message without providing something in return —you have to actually earn your following!

"The coolest thing about social is that it self polices. You have to produce good content."

Tweet this. 

JACKIE: I also feel like you have to earn your team. It's not easy to create a solid, well-oiled unit. How did you go about assembling your team? Do you have any hiring advice?

SUSAN: I knew the first members of my team from other companies. So, we liked and respected each other and we're loyal to one another and we have fun. And, now, I try to recruit people who want to work really hard and have a lot of fun. I've realized we only have room for people genuinely excited by what we're doing and people willing to roll up their sleeves. It's tough to interview for those qualities, but we're getting better at teasing it out.

SUSAN: What are your thoughts on hiring friends and family? Do you recommend keeping business separate from your personal life?

JACKIE: Yes, separate. It’s hard to be a boss and a friend. It’s hard to be a friend and employee. There are exceptions of course and every team is different, but instead of making employees out of friends and family, you should hire employees and make a family out of your team.

"Instead of making employees out of friends and family, you should hire employees and make a family out of your team."

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Career, Business Arianna Schioldager Career, Business Arianna Schioldager

How to Go Hunting for Your CEO

Let someone else steer the ship.

photo credit: Corrine Kutz 

This post originally appeared on Hey Mama

Written by: Syama Meagher

Scaling your business requires a capable CEO who can steer the ship, make short and long-term decisions, and keep everyone on track. The CEO will also report in to a board of directors, and can marry the bottom line of investor/financial needs with the day-to-day operations of the business. A great CEO will ultimately give you the opportunity to be the Chief Innovator or Chief Visionary of your business. Not all founders should be, or need to be, CEO of their companies. Being the CEO can kill your dream if you are not into financials, managing teams and be willing to separate what’s right for the business vs. what you feel is right. If you think you are ready to hire a CEO then read on to make sure you land yourself a good one.

Evaluating Skill Set and Experience

Bringing a CEO onboard requires that they have a strong skill set and set of experiences that you don’t have. To avoid redundancies, make sure you have a solid list of your core competencies. In addition, you should evaluate your goals with your business. Are you interested in selling it eventually? How big do you want your business to be? Identifying your long-term goals will assist you in finding the right CEO who can make it happen.

“Bringing a CEO onboard requires that they have a set of experiences that you don’t have.”

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Personality Profile

I wish there was a Match.com for finding a good CEO. It’s certainly challenging to meet someone who can share a vision for your business, yet also has the right personality to execute on it. A CEO’s primary responsibility is managing the all-star team, and therefore all the major department heads on your big or small team should meet with the CEO to test for fit. A CEO that has been brought on by investors or the founder in a small company without any briefing will be greeted with some resistance- primarily because people are afraid of change. To ensure a smooth transition and high levels of performance, really think about the personality fits of your current employees.

“A CEO that has been brought on by investors or the founder in a small company without any briefing will be greeted with some resistance- primarily because people are afraid of change.”

Hide and Seek

Finding your dream CEO will take time. Angel List is a great place to post your job opening. Angel List attracts innovative businesses and employees in a primarily tech dominated space. I also suggest to my clients that they talk to their current CPA’s and lawyer’s as they tend to travel in C-level circles working with investors, founders and CEO’s. LinkedIn is also a valuable resource to seek out CEOs and vet for experience.

A note on Interim CEO’s

I’ve served as an interim CEO for fashion companies in the past and it’s been useful for companies in two ways. First, it’s great for startups that know they need some guidance and direction as they build the structure and are hiring more key players. Secondly, it’s helpful for brands that are in transition and are having difficulty finding the right long-term fit. An interim CEO will be on board for 6 months to 1 year. A long-term CEO should be someone with your business 5 years +.

How much will this cost?

Expect to pay a full-time CEO between $75,000 – $400,000 a year depending on experience and the size of the business. You can hire a part-time CEO, but that is only really effective in smaller startups. Alternatively, you can hire a strategic consultant who can help groom you with CEO skills and the cost will range between $150-500 hourly. This is not a bad idea if you just need some direction and an experienced advisor.

What exactly should your CEO be doing?

I love Steve Robbins’ job description for a CEO:

A CEO should be doing “everything” Everything includes:

1. Setting strategy and direction.
2. Modeling and setting the company’s culture.
3. Building and leading the senior executive team.
4. Allocating capital to the company’s priorities.

In essence, the failure or success of the company will rest in the hands of your future CEO. This is why hiring a CEO can be such a difficult process and time consuming. Most startup founders will want to stay on as long as possible as the CEO of their ventures, and most investors will want you to stay on as well. Your impact on your business and getting it this far is impressive and all parties involved, employees and investors, will need your passion and vision to stay strong. Good luck making this big decision for your business!

Syama Meagher is a retail strategist and CEO of Scaling Retail. She works with fashion brands and retailers on product and brand launches internationally through ecommerce, wholesale and brick & mortar. Syama has previously worked for Barneys New York, Gucci, AHAlife and Macy’s.  To build your brand and create a profitable business visit www.ScalingRetail.com and email hello@scalingretail.com

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How These Co-Founders Are Revolutionizing the Jewelry Industry

For your benefit. 

Gold is element 79 and its symbol is Au. And Sophie Kahn and Bouchra Ezzahraoui, the co-founders of AUrate, have struck their own version of the shiny element with their jewelry brand. Inspired by Warby Parker, the duo launched in 2015, with the intention of offering high-quality gold jewelry direct-to-consumer. 

What began as a friendship forged in the hallways of Princeton University's graduate school, where they met studying Finance, became a life-altering, business-founding partnership for the women. Both had recently moved to the US, Sophie from the Netherlands and Bouchra from France (and previously Morocco), and they connected over a love of fashion and a keen ambition to do things differently. I.e. smarter and better. "We realized that many fine jewelry brands have higher price points because of the wholesale markups and the customers’ lack of education about gold. For that reason, we decided to start a fine jewelry brand with a direct-to-consumer model, cutting out the middleman," says Bouchra. 

The powerhouse duo share a remarkably complementary partnership, combining Bouchra's sharp expertise in business and passion for artisanship with Sophie's fashion industry experience and design savvy. And this month, the brand is opening 3 new retail stores in Boston, Williamsburg and DC.

So we had to know, how are they doing it? And making it look so good...? Read on.

Turning a friendship into a business relationship can be challenging. What made you both know you were up to the challenge?

Sophie Kahn: Bouchra was a Derivatives trader at Goldman Sachs and I was doing strategy & Marketing at Marc Jacobs after a stint at The Boston Consulting Group. Our different backgrounds and our shared love for fashion and business were the reasons we came up with the idea, we saw a need in the market and wanted to address it. Instead of seeing it as a challenge we saw it as an opportunity, not only to turn “a friendship into a business relationship,” but to build a strong foundation for AUrate.

Piggybacking on that a little. You’ve said that you have a complimentary partnership. So what were each of your strengths and weaknesses that made you confident in each other?

Bouchra Ezzahraoui: We both realized very quickly we wanted to do build something of our own that is bigger and more meaningful while at our corporate jobs. Our complimentary personalities and skill sets enabled us to strike the balance you find in your ideal co-founder. Sophie built a great toolkit combining fashion industry knowledge along with her consultant skills, I on the other hand really learned how to work in a very fast-paced result-driven environment that forged my business and risk taking experience. I believe you need a business partner who shares the same vision but who can bring something different to the founders’ table.

To answer the last part of your question: We’re both very impatient and that’s the common denominator that keeps the AUrate journey going.

"You need a business partner who shares the same vision but brings something different to the founders’ table."

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Bouchra, from a BSc in Mathematics and an MsC in Applied Mathematics, your road to AUrate co-founder has certainly been an interesting one. You obviously bring a wealth of business knowledge to the team. So what would you tell young entrepreneurs just starting out that they need to be aware of on the numbers side?

BS: Make sure you keep the big picture in mind, know your market (all the numbers and your competition) and invest very early in your team and your product. Cashflow management is primordial but it all comes down to taking calculated risks. Your investors would appreciate that.

 

Sophie, similar question to you— because a successful company is not just about numbers. What should young entrepreneurs be focusing on in terms of branding and creative strategy?

SK: Use a consumer-centric approach to business – creating a brand with our consumers in mind, getting to know of what they want and appreciate, what are their preferences, instead of what we think they want. 

How much of business is going by the numbers? 

SK: Most of it, if not all. Our team focuses a lot on collecting data and executing on findings. We just opened 3 stores at 3 locations where our customers wanted an AUrate physical presence. We also just designed a whole collection based on customer feedback. 

How much is going with your gut?

BS: ALL of it. Really. You can simulate all the possible scenarios but in a startup environment, you won’t have enough data to allocate the appropriate probabilities to those very scenarios. It comes down to following your gut and just going for it. 

How did you each know that it was time to turn AUrate into a full-time gig?

SK: We had the proof of concept after a few months of operations. We saw a void in the market, we tackled it and our customers were receptive to our product and our mission. It was a no brainer. 

Was the transition hard for you?

BS: Neither of us had the jewelry background nor went through the traditional fashion route. We learned how to run a business from scratch. The market structure, hiring the right talent, looking for strategic manufacturers and partners all had to be done at the same time. You have to build structure within an endless list of priorities without having the traditional set up at a corporate job. The hardest part of the transition is learning how to be patient and dealing 100% with unexpected scenarios.

What was the hardest part of leaving your jobs and striking out on your own?

The trajectory is less obvious, you become your own boss and have to take all the decisions.   

What was the easiest?

SK: For me, it's having a real impact on this world. My parents are doctors, so I've always had this thing of wanting to give back. But I like fashion, so I felt very conflicted for a very long time. Now, we've got our company where we're a) helping kids read, b) creating jobs, and c) doing that all by ourselves.

How is AUrate revolutionizing the industry for the consumers’ benefit?

BS: We felt a true void in the marketplace, as we found it hard to find fine contemporary jewelry that was accessible. We realized that many fine jewelry brands have higher price points because of the wholesale markups and the customers’ lack of education about gold. For that reason, we decided to start a fine jewelry brand with a direct-to-consumer model, cutting out the middleman, empowering our customers, giving back in a transparent way and providing the same to better quality jewelry at a fair price without any concessions.

What is your hope for the company?

BOTH: We believe that the new generation of consumers cares not only about the aesthetics of the product but also its quality, how it is made and what it stands for.
It is important that we invest ourselves in more than just beautiful jewelry and business growth but we also strongly believe that true corporate social responsibility is increasingly critical in this world– we’re hoping AUrate will lead by example in a much bigger impactful way in our industry.

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20 Amazing Mic Drops from C&C Keynotes

How about that #MondayMotivation. 

Photo credit: Smith House Photography 

We're still riding the wave of Create & Cultivate SXSW and sharing 20 of our favorite moments from last week's popup featuring keynotes: Brit Morin, Brooklyn Decker and Whitney Casey, Hannah Hart and Mamrie Hart, and Kristen Bell. 

Enjoy and pass on to a friend who needs a boost! 

"I put my name in it because I want people know I'm real about this. I'm a real person. When you Tweet me, I'm gonna Tweet you back. When you Instagram I'm gonna Instagram you back. It's not a brand just trying to be a brand." Brit Morin on incorporating herself into the company.  

“I don’t think women brag about themselves enough.” Brit Morin on being a powerful woman in charge. 

“Cooperation over domination is going to be the cure.” Kristen Bell on what will move the business needle forward.

"Cooperation over domination is going to be the cure." 

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Photo credit: Smith House Photography 

“Investors want to invest in people.” Brooklyn Decker on being yourself in meetings and believing in yourself. 

“To know your differentiators you have to know the marketplace. Do you research.” Whitney Casey on how to enter VC meetings. 

“Be incredibly well-researched on the market that you’re entering. Understand it so well and it will help you prepare for any meeting.” Brooklyn Decker on how to enter VC meetings. 

“If I were a young woman right now I would learn how to code.” Whitney Casey on how we change the male-dominated tech world.   

Photo credit: Smith House Photography 

“Beyoncé, she’s our user, she’s our girl.” Brooklyn Decker on her Finery dream user.

"Good ideas spread, they're the best infections." Kristen Bell 

"We want to work, but we also want to create." Brit Morin on the impetus of Brit+Co. 

"You can kick down the door but you better be ready to fight when you get in there." Mamrie Hart on breaking down barriers (and kicking down doors above). 

"You can kick down the door but you better be ready to fight when you get in there."

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"If you try to please your audience you're not being your authentic self." Marie Hart. 

"When I would start to cry I would run to the bathroom to study it." Mamrie Hart on being an 8-year-old asking for an agent. 

"We're literally two girls with the last name Hart who started our YouTube channels in the exact same month drinking and making puns and we literally still don't feel competitive. So, there's enough room for everyone." Mamrie Hart on female competition and how she, Hannah, and third "Holy Trinity" member Grace Helbig really do support each other offline. 

"We focus so much on being pitted against each other, but we don't think about the social construct that has put us in the pit. That's the thing we should get together and try and change." Hannah Hart on women supporting women.

"It's intention into action. If you're intention is to get a lot of views and be famous, you can study all the strategies and compromise your values, but it might not work. So wouldn't it be better to make something you're proud of?" Hannah Hart of content creators breaking into the crowded space of social. 

"Ask for what you want." Mamrie Hart. Keeping it simple and smart. 

"This year especially, I just want to be around strong women. And I really want to focus on me and my girls going for it as hard as we can right now. I'm 33 and I really want to hit it hard right now. People are like, 'This is when you freeze your eggs,' and I'm like, 'No, this is when I get a frozen margarita with my bitches.' I feel like women right now need to come together." Mamrie Hart on the "Pussy Posse 2017" bracelets she gave to her friends. 

"In this 'climate' I'm worried that we're so focused on protecting our individual 'I's' that we're not listening to other people's 'we's.'' Hannah Hart on the need to be inclusive. 

"I believe our give back is the reason we are so successful." Kristen Bell on why she believes in This Bar Saves Lives and why she thinks social responsibility is the move. 

Have other favorite moments from the day? Share below!

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Meet the Woman Who Left Oprah to Write Her Own Story

Sometimes you gotta open your own doors. 

“I feel very wrapped up in cords. As a 30-year producer, I am ashamed,” jokes Sheri Salata, former President of OWN, now co-founder of Story, a brand and media company launched nine months ago with lifelong friend Nancy Hala. 

We’re sitting in the Garden Room at Salata’s Los Feliz home. She moved in about a year ago. On the coffee table is podcasting equipment (“ordered on Amazon and here in two days,” she says) and a pile of books, including one on meditation, that aren’t there for show. They’ve been thumbed many times; covers creased, fingerprints on all pages. 

The women are on single-syllable name terms with each other: “Nance” and “Sher” as they affectionately call each other, have been friends for 26 years. They met in Chicago through Nancy’s ex-husband, Chris, who worked with Sheri at the time at an advertising agency. Chris brought her home to meet his then-wife. “Sure enough,” says Nancy, “I walked in the door, put my stuff on the table, and it was instant friendship affinity.” 

The women bonded over a love of books, stories, Bruce Springsteen, and cocktail hour, launching what Nancy calls “our 26 year conversation that we’re still having today.”

Outside of that first meeting, their story really starts with stories—a book club, in which they were the only members. “We were very serious about it,” says Nancy, recalling the first books they chose: Mona Simpson’s "Anywhere But Here" and Wally Lamb’s "She’s Come Undone." At the time Sheri lived in a tiny studio apartment and they’d walk to Barbara’s Book Store (“not there anymore”) to buy their books (“with great ceremony and ritual”) and then walk across the street to Bird Place Bar to discuss, with pen and paper in hand. “And then we started writing stories,” says Nancy. “It is the greatest joy in the world for me,” says Nancy, “to tell Sheri something, or to listen to her tell me something because we unpack it from every angle. She’s the one person in the world who does not care that I repeat myself, because I do. Sheri loves to hear all different iterations of the same idea.” 

“I do,” chimes in Sheri. “I do. I just love the details of stories.” 

Story in all its forms has been part of their “friendship DNA.” Today, they are proud to be developing a company that is “very authentically our own.” 

“We wanted to do the things we loved. Work with people we really enjoy. We wanted to spend our days happy and excited. It makes so much sense that the focal point would be storytelling. That is the one thing that we both have been orbiting in our careers for decades,” explains Hala.  

Careers, which, have been rather storied themselves. Sheri has always been a go-get-‘em worker, lapping up the midnight oil her entire life. She walked in the Oprah door in 1995, rose through the ranks to role of executive producer—the consummate storyteller, crafting one story after the next for audiences all over the world. When she made the decision to finally exit, she walked out of the door as President of OWN. These are not small-career potatoes. This is the whole Thanksgiving meal. Plus dessert. The kind of career trajectory that we champion. 

Hala has been a storyteller in her own work as well. A writer and brand storyteller, she ran her own company while raising two kids solo. A single mom by the time her children were four and seven, Hala knew that she wanted to be able to stay home. So she started what she dubs “my own little writing company.” 

“I think Sheri had anxiety for me. I didn’t have a steady paycheck coming in. I was very entrepreneurial. When you’re self-employed there is very much a dance of cash flow. So I got used to that quite quickly. I had to knock the mortgage out every month, I had two kids to raise, make dinner every night. And I had to write a bunch of articles, annual reports, and ghostwrite books so that I could keep the family going. After a while, you just get used to the shifting sands. But what I really liked that I could work 4-5 hours a day. I didn’t need to be in the office.” 

Hala also had the ability to write on subjects she and Salata joke, she knew, “nothing about.”

“You were pullin’ the rabbit out of the hat, man,” says Salata. “And quite successfully.” 

They laugh about one particular 5,000-word piece. “I was asked to write an article on commodities. As I was saying yes, I had the phone to my shoulder and I’m typing on my laptop 'What is a commodity?'” 

“I so admired her,” says Sheri. “I could see in my friend this totally fearless quality that I didn’t have myself. I was a little bit of a safe Susie, going in with my lunch pail.”  80-90 hour weeks and a 24/7 mentality were her norm. “Nancy was always the most understanding,” she says of their friendship during that time and her dedication to her career. 

It’s why they gel. “We’re in concentric circles,” says Sheri. “In the middle, we’re super alike, find the same things funny, like the same kind of storytelling, and adore one another.” In the outer parts they are admittedly different.

She refers to their initial talks as the “chardonnay dream conversations,”—the some days, the one days.

The “one day” is now. 

###

While we’re chatting Sheri can’t help but produce. “Nance,” she says, “can you scoot your chair around a little this way, just so the eye line is better for her?” she says referring to me. “It’s gonna bother me.” Nancy scoots. We all settle back in. 

Nancy has just come from a morning workout of intense interval training. As such, she’s moving “slower” than usual. It’s all part of the life the pair is actualizing at “Belle Vie.” The “name” of Salata’s new home replete with white bright walls, a lit fireplace warming the living room, a kitchen island that makes you salivate, and a pool so blue it could be called Sinatra. In the formal dining room, the co-founders have taped up their first month of content. Nancy likes to look at it on the wall; it helps them visualize and understand how the stories will weave together. Two English bulldogs (Sheri’s), a cocker spaniel (Hala’s) roam the home. 

“When she bought it she half-jokingly named it Belle Vie,” shares Hala, “which is French for beautiful life.”  Salata laughs loudly. “She’s not some fancy lady who names her properties,” explains her friend who has moved into the guest suite on the property in order to really focus on the first year of the company. They are calling this time together “A Year at Belle Vie,” and they’ve already sold a book of the same title to be published by Harper Wave. “Our agent calls it Eat, Pray, Love in your own backyard,” says Hala. 

“The dream for our company is part of the dream for our lives,” shares Sheri. “It’s not separate. It’s an integrated dream. We’re working but we’re living.” It’s all baked into the Story layers. 

"We’re working but we’re living.”

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“For part of our year at Belle Vie, which is foundational to the first year of our company, I’ve brought in the experts, just like the Oprah Show days,” explains Sheri. “We have a love coach and a sex therapist who is part of the team. We do private sessions that we’re chronicling. I think that, honestly, great love is on his way.” Of “those days,” Sheri has nothing but positive feelings, aware that she learned from the best; studied soul with a woman who built an empire. Now she wants to build her own. 

“We realized that to build and sustain a Story Empire, which is what we really want to do, we have to be firing on all cylinders,” Nancy says. “So then we started thinking about getting in the best shape of our lives, focusing on spirituality and happiness, meditating twice a day, eating a clean plant-based nutritional program, working out furiously, losing weight, and again, freedom, growth, and joy.”   

“And,” adds Salata, “to call in soul mate love.” An essential they will not sacrifice. 

But what about the nose to grindstone work? The kind that Sheri spent over two decades of her life committed to? They’re not about that life. At least anymore. 

Set to launch at the beginning of May, Story, will be an umbrella brand. As a daily practice they focus on what they call their “pillars” (Spirituality and Happiness, Soul Mate Love and Great Romance, Health and Wellness) and are considering this their year of radical self-care and transformation. With a print division, a production studio named Orange Dragon, and media company, they’ve have already optioned The Gilded Razor, developing the Sam Lansky novel for TV with Nate Berkus, whom Sheri has known from the Oprah Show, and his husband Jeremiah Brent. In fact, Sheri married them at the New York Public Library. Orange Dragon was launched during the middle of a dinner (ordered by neighborhood favorite Little Dom’s) in Salata’s backyard. “We said, ‘Do you want to throw in with us?’ And they said, ‘Yes.’” A few weeks later they found their first book. 

If this all seems too simple and easy to be true, it’s not. “I come from the school of hard work,” says Sheri, “I worked my ass off. But I don’t think I was right about that. If you are willing to let some things germinate and let timing come together and gather momentum, build from the inside out, I think there is a much easier process that we’re exploring now. It’s really illuminating to me,” she says. “After a fabulous career, I see that I have much more to learn about creativity and innovation and divine timing. There is a freedom and a joy that I’m unpacking that startles me.” 

“It startles me too,” adds Hala. “I’ve known Sheri for a very long time. In Chicago we were really best buds and I think that I had lunch with her twice in maybe 20 years because she wasn’t available for lunch. She’s the kind of person who packs up her lunch pail and reports to duty every day; she takes her job very seriously. She has a mid-western sensibility.”

But now they are in the “land of dreamy dreams.” And damn that time-clock mentality because they are dreaming. Throwing caution to the jasmine-scented LA wind, the pair quit their jobs, sold their homes in Chicago, and leapt without fear. “There’s something in the air out here,” says Hala. “There’s a creative vortex swirling around.” 

Contrary to everything you’ve heard about startup life, Sheri says, “Honestly, we’re not setting out with this huge gigantic strategy. It’s very organic, very ‘let’s see,’ ‘let’s look through our offers here.’” Explaining that the need to make her “mark” in her early twenties, “almost ruined me.” 

“I thought I needed to hurry up and get my business cards printed and get my proper title… in moments of reflection, I tap my younger self on the shoulder and say ‘easy there, it’s all going to come together, it’s all going to be fine. Have fun right now.' ” When asked if she could have come to this realization earlier, she’s frank: “Well, I didn’t.” 

“It’s easy for me to say,” says Salata, “so I’m saying it, because I’ve already made all those mistakes and now I’m in my mid-50s and an entrepreneur for the first time in my life and loving it and seeing things through a different set of lenses. I wasn’t like that when I was younger. At all.” 

She encourages young women to, “Really find out what you like to do. What you’re really looking for is happiness. All of the accolades, accomplishments, and achievements are really going to end up feeling very, very thin if you haven’t made happiness job one.” 

“All of the accolades are going to end up feeling very thin if you haven’t made happiness job one.” 

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She says there is “no question,” that she's missed out on a bit of her own story, but also has a no regrets policy. “I wouldn’t do it differently, but it’s instructive,” she shares. “I get to do it differently today. Because that’s what I have: now.” She also admits that she was never able to achieve the illustrious work/life balance, but it’s a concept that won’t be her part of her life strategy. Instead she’s focused on a fully integrated life. 

“People say you can’t have it all,” says Hala. “I think that is complete rubbish. I think you can have it all and you should have it all. I believe that I can have great romantic love and great business success and great friends and family around me all the time, and the body I want and the life I want.” 

“I totally agree,” nods Sheri, though that “all” never included biological children for the new entrepreneur. For a while she considered adopting a baby from China, but it never came to be. She’s happy as a “dog mom.”  

Both women are reframing with Story, filled with excitement at this entrepreneurial moment in time.  

“Nancy is a gamer, a let’s go, jump off the cliff, Thelma and Louise drive the car right into the canyon,” says Salata. “I like that. I like that all of that is being awakened in me.”

“I’m living this one golden joyride opportunity,” she continues. “Sure, there’s a lot going on, but I feel so alive and I'm becoming so much better at what I do.” Nancy agrees. “You can tell your own really inspired story about what it means to be a fully actualized mother, who is madly in love with and devoted to her children, and also be a force to be reckoned with professionally. You can be the kind of woman who walks into the room and leads the discussion and listens intently, adds value, is super creative and aware of her surroundings, and a shape-shifter. You can be that.”

Cheers to that.  

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Find Out Why This CEO Risked All of Her Money

And how it paid off big. 

Would you be willing to risk it all for you biz? That's what Aussie expat Koel Thomae, co-founder of Noosa Yoghurt did. And it's a route we hear many entrepreneurs take. As they say, without passion and risk, there is usually no reward. 

Thomae, alongside co-founder Colorado dairy farmer Rob Graves, launched Noosa in January 2010, with the idea of bringing the sweet, tangy and full-fat yogurt of Australia to America. 

But yoghurt is one the world's oldest man-made foods. So what made Thomae think she could do it better? Considering Noosa was profitable within one year and acquired within four, trusting her tastebuds is only part of the tale. 

Hers is an inspiring success story that includes heart, risk, and yes, getting acquired. But even after acquisition, Thomae stayed on in a different role. Read more about her journey below. 

As someone who bootstrapped her company, was there a part of you that wanted to see how far you could go on your own? How did you know it was the right time to take on an investor?

Koel Thomae: Absolutely. There was part of me that wanted to defy the normal path that most start-ups take with having to take outside investment. It certainly meant we were risking all of our own money but that made me even more determined to work hard to see this become successful. It also gave us the ultimate autonomy in how we grew the business and even though we certainly had our missteps we defined what success was and could take risks that others might not have had the stomach for. By the end of 2013 we knew we had created a real business with legs and that the growth curve wasn’t slowing. We were running the business incredibly lean on the executive level and knew that to protect all of the blood, sweat and tears (and money) that we had invested that it was time to think smarter and faster. The only way to do that was with real capital. The trick was to find someone absolutely aligned with our vision and we’ve been successful in doing that.

Especially as someone who didn’t have to give up a stake early on, was it a hard decision to make?

KT: When you’ve invested your life savings, endured many sleepless nights but can see that your vision has become a reality it can be hard to know when is the right time to give up some of that control. When we welcomed Advent into the Noosa family in 2014, it was a strategic decision that allowed us to grow to scale and get noosa into the hands of more people. It really is a partnership and they’ve allowed us to evolve the brand in a way that stays true to what we set out to do, which at the end of the day is to make bloody delicious yoghurt!

Why do you think it’s hard for startups to get traditional business funding?

KT: There is so much risk in startups that traditional lenders typically shy away from these types of investments. But I think that there can be paths to finding traditional financing through networking and establishing strong banking relationships early on. Noosa is fortunate to be based in Colorado where there is a strong entrepreneur culture in the food realm and both local banks and national banks with strong local branches have really started to become aware of the opportunities in food startups.  

How was the initial transition? And why did you decide to stay on?

KT: The initial transition was very busy as I was still managing sales and marketing. It took time to find the right people to take over these roles and I wanted to see both Noosa and my new teammates succeed so it was a gradual and thoughtful transition. I had given everything to see Noosa become successful and I wasn’t ready to walk away from the next chapter. I’ve been given an incredible opportunity to continue learning and to have endless fun with my ‘baby’ so to speak. 

What is your role in the company now? 

KT: Along with my co-founder Rob Graves, I’m still very much involved in the day-to-day at noosa. In passing the baton on for sales and marketing I’ve been able to re-focus on my true passion which is product and flavor innovation. I love everything about food and it is so fun to stay on top of food and cultural trends, It’s like being a food anthropologist! I’ve created my dream job - I get to travel, eat and dream big!  

Was there ever a point where you thought, I’ve made a massive mistake. And how what did you do?

KT: I think there are very few entrepreneurs who haven’t made some big mistakes. The trick is surviving the financial impact and learning in real time how to recover and make better strategic decisions. Noosa had so many inbound retailers interested in carrying us early on and we didn’t have a firm strategy on how we would grow outside of our home market. You can become giddy in the early days and say yes to every opportunity. Launching with a retailer in a region on the other side of the country where we had zero brand awareness coupled with very few resources to build this awareness and other supply chain challenges was a recipe for disaster. After 6 months and almost $100,000 in losses we pulled out. In many ways I’m thankful that this mistake came early on. It did not sink us and we were forced to stop and think very hard about what was the right strategy to grow Noosa.

"There are very few entrepreneurs who haven’t made some big mistakes."

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How did you successfully navigate a shifting role?

KT: I like to think of my time at Noosa as a working MBA. I have worn so many hats since we launched the business, some things I was good at and others I was completely in the deep end. I think the trick is to understand what your strengths are, learn to leverage others who can fill in for your weaknesses and always have a thirst to learn from your mentors and the good old internet came through in many occasions.

What would you tell young female entrepreneurs about the startup world?

KT: The best advice I’ve ever received was to surround yourself with a good group of mentors. I’d advise young entrepreneurs to do the same. Look for your own network of women who you can learn from and who can help support you. 

How do you see your role at Noosa continuing to evolve?

KT: I am so fortunate to work with an amazing and smart group of people who realize the unique opportunity we have at Noosa. As I said before, I have the best job in the world. I am excited to continue to help push the boundaries on innovation all the while making sure we stay true to our core – and that’s to make bloody good yoghurt.

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