Start-Ups

Working Full-time and Launching a StartUp

by ThinkFeminist on May 9, 2013

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Ever since I caught the entrepreneurial bug, I have being obsessed with everything start-up. I read everything I can lay my hands on – from the Lean Start-Up to stalking Gotham Gal, AVCs blog, Paul Graham Essays and of course my beloved Women2.0. I also end up speaking to tons of web designers, developers and potential advisors and mentors for my start-up. These coupled with a full-time job, training and running  half-marathons, raising a 4 year-old and living a healthy lifestyle (everyone knows it’s a lot of hard work to green juice, cook your own food every single day, no?). I digress, although I have to say that staying in top shape and living intentionally benefits your start-up in every way. You tend to have better mental clarity, rigor and ability to focus on difficult tasks.

Now moving on. I have since been thinking about what it truly means to be an employee and at the same time a potential CEO/Co-Founder. This big leap is not for the faint at heart and I recognize that. Not to toot my own horn, but I am very comfortable with stress and I thrive on working under pressure. It’s the only way I can get anything done 110% but there is a part of me that wonders what life is like to just focus on my start-up without the 50+ hours full-time job. I know what many of you are thinking – why not quit your job and focus on it? Well, the short story is that I can’t.  I need the money, and until I get around to seeking funding, I plan on keeping my job.

There are so many companies that have started as a side project and became real companies eventually. Craigslist was Craig Newmark’s side project started in 1995 and only turned into a real company in 1999. So many people think they cannot start working on a start-up unless they are out of a job. By focusing 100% on a startup, you most likely get things going faster, and you hustle like crazy, I get it. However, one of the advantages of working on my startup on the side is that it gives me the luxury to test my hypotheses even more so with co-workers, friends, and families. I also have the money to travel to conferences and events without worrying about diminishing funds. These small but crucial activities, add value in a way that going full throttle, burning through cash and possibly crashing afterwards does not. The reality is that 9 out of 10 startups fail. And as an engineer, I thrive on data. I believe so much in doing my homework, getting voice of customers, acquiring customers, and launching a minimum viable product before going exiting corporate life.

This said, my entire basis for doing this is around financial security. Trust me, I have thought about quitting my job, moving myself and my 4 year-old to New York (luckily, my Mom is coming to stay with me full-time to help out), however, I know that I have to be sensible. I have to approach this like  a CEO, do you stop making Product A because you are getting ready to launch an improved Product B? No. You ensure that Product B is going into the right market and has gained traction before pulling the rugs from underneath Product A. And I know that there are recent college graduates my age who are leaving it all behind and following their dreams. At the young age of 26, I have learned very quickly that you can only go as far as your bank account and networks will get you, and what I want to focus on while working my full-time job is to grow my network, launch my MVP and watch the gods of startups unfold naturally.

I plan on documenting my journey on my blog as well as on Women2.0. Wish me luck :)

Anyone working full-time and on a side project to launch a startup? I will love to hear from you! Please feel free to email me at blessing@thinkfeminist.com if you have any resources or networks that can be helpful to me.

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Rippling-banner-1

I started reading a powerful book this week and I am blown away and completely. Rippling is the first book by Beverly Schwartz, an insider of Ashoka, the foremost global organization on social change through social entrepreneurship. The book presents innovative techniques used by social entrepreneurs to solve the most challenging problems of our time, from inequality to environmental challenges, poverty and social problems. The entrepreneurs who are referred to as changemakers, enablers, innovators, catalysts, role models, and recruiters have the best combination of passion, talent and purpose that allows them to combine and merge creative ideas to tackle real-life challenges. The who, the what, the how is small compared to the execution of the work itself. The life-altering solutions they create set them apart from traditional entrepreneurs and begs the question of “what would it look like if we were all wired to be social entrepreneurs”?

Here are some excerpt from the book.

Currently, social entrepreneurship is as much a field as it is a social movement. A whole new generation of ethical change agents—whether in business or academia or the media—is building a new sensibility about the way we live and interact. For many people, ‘‘social entrepreneurship is now a viable and desirable career path, where work is not just something that you do, but rather something that you are.’’

All of Ashoka’s Fellows (the people Ashoka deems to be leading social entrepreneurs and elect into a lifelong Fellowship of like-minded people) ripple their innovations through society by influencing other social entrepreneurs, the policy development process, and the actions of the private sector. As I came to know the Fellows I interviewed for this book, I found that they all, at a minimum, possessed four inherent qualities:

  • Purpose
  • Passion
  • Pattern
  • Participation

These characteristics have become my favorite manner of determining if the person is starting out with the defining characteristics of what constitutes a social entrepreneur.

Purpose

I have never met an Ashoka Fellow who did not put society above personal interests and was not firmly focused on the fulfillment of their chosen role. Fellows may takemany roads to get there, but the goal is sacrosanct—and they do not get sidetracked by the boulders strewn on the path. Their clarity of purpose is often the decisive factor that brings individual and organizational efforts together. This is because it defines why they are working toward something and why it is worth working on it collectively. Purpose becomes the invisible glue that connects different actions and actors while it bonds everyone with inspiration. It infuses boldness and calculated risk and it creates loyalties by helping people understand why their contribution is valuable and valued. Purpose mitigates fear and allows inspiration to replace fear with action. Purpose leads to a sense of possibility.

Passion

I am not sure if I can separate the passion from the purpose because I have come to believe that both are always present, tightly intertwined and inextricably linked together. Like strands of DNA (which passion and purpose may actually be part of) you cannot pull them apart. Passion connects to spirit and relates to strength—strength of character, of determination, of connection to others. It kindles and nourishes a ‘‘follow one’s heart’’ courage of judgment. Ashoka Fellows have taught me that real strength lies not in the physical realm but in an indomitable spirit, intense passion, and determination aimed toward goals.

Pattern

The entrepreneurs in this book all decorate their own innovation in patterns. They base this on purpose, passion, and personality. But in a bigger sense, these patterns become models or guides for others to follow. The particulars of their patterns differ greatly, and in fact that individuality is the nature of an entrepreneur. They cultivate new ground and put together new combinations of solutions—or maybe they come upwith just one that no one has ever configured in such away. I’d like to say that they ‘‘build a bettermousetrap’’—but in essence, they eradicate the need for mousetraps altogether by figuring out a way to decrease the populations of mice!

Instead of just trying to alleviate the symptoms of problems, their organizations are trying to find the societal patterns that will unlock the clues to solving the underlying issues. To create significant and long-lasting changes, social entrepreneurs must understand and often alter the social system that creates and sustains the problems in the first place. This way of looking upstream toward solving the root cause of a problem is far more sustainable than looking downstream by trying to put a patch on the outcome. To borrow from public health parlance, ‘‘It is not enough to cure the symptom—for a cure to be sustainable, you must treat the underlying illness. If not, the cycle between cause, symptom and illness will continue to evolve causing a spiral of exacerbated and related problems.’’

Participation

The Fellows discussed in this book all exhibit leadership abilities. They are often unanticipated leaders, but whether they perceive themselves to be leaders or not, their ability to influence people and have them believe, follow, and join is an attribute that is completely natural and a necessary component for impact. It is that quality that attracts involvement and eventually morphs into civic engagement.

Certainly our 2011 current events lesson on the strength and accomplishment of civic participation in Egypt should make it obvious why this last characteristic plays such a huge part in an Ashoka Fellows program. As an old but true adage goes, ‘‘There is no strength like strength in numbers.’’ The role of the citizen, of the parent, of the child, of the street vendor, of the teacher, of the government official, of the person who is differently abled or who has positive distractions in changing an entrenched cultural pattern are all of significant consequence. It is as much the number of participants as the quality of the participation that is essential for supported and sustained social change to take place. To think boldly, act locally, and scale globally, innovators need more than their efforts as individuals; they need to get multitudes of people involved in seeing their vision, believing in the possibility, actively supporting it, and participating in creating change themselves. Leading social entrepreneurs know that if they are going to make a scratch on history, they can’t do it alone. There is a point when they all know they must step back and let go of any ego-limiting ownership of the idea if they are to involve and instigate the rise of changemakers who can help spread the seeds of change and grow them into a movement.

The ability of social entrepreneurs to scale their programs depends on the strength of people’s participation and their capacity to create movements that are strong enough to shake the foundations of poverty and inequality the world over. But what really makes social entrepreneurs unique? Where do they get their inspiration and passion? How do they convert that inspiration into purpose and who empowers them to think in such new ways? How do we clone these people so that we end up with a better world for all?

What are your thoughts on Social Entrepreneurship? Some schools are already offering it as a major to allow people who want to approach entrepreneurship differently to actively pursue that path. I’ll love to hear your thoughts.

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How to Ensure Your Startup’s Survival

by ThinkFeminist on April 24, 2013

Ever since my co-founder and I have stumbled on the startup world, we learn so much everyday. We learn about startup new to the scene, flourishing  struggling or exiting. It’s a nerve-wrecking process to keep up with the dynamics in the startup world. We try so hard to keep ourselves sane and we work hard to ensure the longevity of our business. This new infographic details how Salesforce is helping startups stay in business. The one that stood out to be of course was mobile applications. You would think everyone grabbed that concept by now. Mobile customers are 100% consumers that every company and startup should be capitalizing on. Enjoy the infographic.

Startup Growth: How to grow your Startup with Salesforce
Via: Salesforce for Small Business

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542114_315530335229630_1549859072_n“Each of us feels some aspect of the world’s suffering acutely. And we must pay attention. We must act. This little corner of the world is ours to transform. This little corner of the world is ours to save.” – Stephen Cope, The Great Work of Your Life.

In my freshman year of college, I founded a non-profit to revolutionize science and technology participation among youths in Africa. I was young and I wanted to change the world. My parents begged of me to face my education and I slowly parked that dream for sometime in my future. Since then I have worked for various Fortune 100 companies, and currently climbing the corporate ladder but when I look back at my younger self 7 years ago, I know that I truly come alive when I know that I am working for a greater purpose. I know that my calling is to be a social entrepreneur and so I have decided to do something about it. I have this crazy idea in my head that I can change the world of women and work.

My focus in the last five years as a blogger has being solely on enabling and empowering the next generation of women to become active economic agents. In the next decade, about one billion women are poised to enter the global economy. 97% of these women are in developing and emerging economies. The impact of women in the global economy – as producers, entrepreneurs, employees and consumers – will be at least as significant as that of China’s and India’s respective one-billion-plus populations. Tapping into women’s economic potential would be equivalent to having an additional one billion individuals contributing to the global economy and stimulating growth. These phenomenon was detailed in studies conducted by Ernst & Young, Booz & Co, and McKinsey & Company, and it is appropriately named the “Third Billion Effect”.   Research shows that economically empowering women is not only good for the women; it is also good for the societies they live in, as well as the next generation. It’s a multiplier effect for their family and society. Women are more likely to save money for the children’s college, a strategy that also increases literacy and strengthens their local economies.

Becoming a social entrepreneur is different from your typical entrepreneur. For us, purpose is greater than profit and we are in it to discover, disrupt, and drive innovation. The positive impact is how we measure success and profit generally flows in because we get people to join us on this crazy journey of changing the world. In today’s world, generosity is the next frontier – people will pay more to make real impact. As a result, social entrepreneurs are more interested in understanding the social, economic, political, and cultural context of the problems they are trying to solve than traditional entrepreneurs are. We care about making money, but we focus equally on solving the problem. And that is what makes us very successful, because we are analytical enough to create a business model based on research, evidence and data yet we are idealist enough to think we can change the world. If you lack these characteristics, you are not changing the world.

And then there is perspective. Some of us have experienced these problems first hand, hence the passion and resilience is there to give ourselves to the service of others even when it hurts. At the age of seventeen, I left the shores of West Africa to study in the United States. I did that because I wanted to escape patriarchy, the agony of being a female, and the painful evenings spent in the kitchen. I knew that wasn’t the life I wanted and I worked hard to get myself out of the ‘dungeon’ like me and my siblings now joke about. In so many ways, my journey to become a social entrepreneur comes from my leadership abilities and confidence combined with my background as a woman who grew up in a developing nation. This culminated into a lofty dream of empowering women to boldly follow their dreams, achieve financial freedom and consequently strengthen their local economies.

Want to be a social entrepreneur? Find something you believe in. Choose your little corner of the world that is worth saving. 

 

 

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Fashion Project for Global Good

by ThinkFeminist on April 11, 2013

product_i980x1078_d276d0404ff2ab625d37_kate_spade_topsA gently-used Kate Spade sweater for sale on Fashion Project

Fashion Project launched last year and recently announced that they have raised $1.8M in seed funding. The business model is pretty straight-forward, FP is turning taking your donated gently-used designer labels and selling them for reasonable prices. 60% of the sales goes to a charitable cause of which you get the receipt for tax-deductible benefits. 40% goes back to the company.  On their website, you can find their charity partners and view the impact of your purchase right away. Essentially, they are turning ‘trash’ into ‘cash’ and helping various non-profits worldwide.

I am so proud of these ladies and what they have accomplished. The business idea was formed on graduation day from Havard Law. They both knew they wanted to be entrepreneurs and wanted to make a difference. CEO Anna Palmer referred to their startup as ‘a force for good’ and I couldn’t agree more.

Know of any start-up changing the world? Email me at blessing@thinkfeminist.com

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Finally Leaping into Entrepreneurship

by ThinkFeminist on April 5, 2013

On the train to Millbrae Station. Totally geeking out on train stops, connections and wait times.
It’s been over two weeks since I returned from BlogHer Entrepreneurs Conference. Is it safe to say that I now sleep less? Which by the way is the first telltale sign of an entrepreneur. I learned so much at the conference that I was dying to utilize all I have learned. I met so many people that gave me great advice on how to start, where to start and techniques to use. I even had some one-on-one time with Lisa, Elisa and Jory, Co-founders of Blogher. The conference was definitely not what I was used to as an engineer with various big expos that almost makes me feel like I am a lost soul and insignificant. At BlogherENT, as we call it, I felt like I was needed. I mingled with investors, VCs, entrepreneurs, CEOs, had dinner with the fabulous Stacy Morrison, Blogher Editor, Nelly at TechSpeaks, Rachel at FemInc, and many others.

But the crust of my post is that, today, I officially named my start-up. I did some major refining after speaking to my mentor at BlogherENT who looked at my business model and totally explained to me key features that were missing. This woman cut to the chase in the one hour we had together and gave me some key assignments to work on, websites, articles and further literature to read! So, when I got home, I got to work! I worked tirelessly through Easter weekend (luckily my 4-year old was eager to go see Grandma and I had the long weekend to myself). Through this weekend, my co-founder/sister and I worked day and night to refine the idea, completed the business model, and just this evening, we decided on a name.

The next phase of the company will involve some ground-work that will take us to India and some parts of Africa starting next month. As an engineer, I love to have science, data and some ‘see-touch-feel’ approach to things. We plan on bootstrapping and then launching a kickstarter campaign to test the market, after which we will be open to investors. I have taken such a huge step in my entire life (other than when I travelled to the U.S at the age of 17, all by myself, knowing no one with a total of $800 cash, true story). I digress.

I am so excited for this journey and my amazing team. We already have two other team members, one of which is a brilliant friend and our Online Business Manager who already got to work, as we know that social media is a key contributing factor to generating leads to our website. The second is my awesome friend, who has 20 years of experience with Sourcing and Logistics, Production Systems and know exactly how the Supply Chain thing works. That’s a key part of our start-up.

Our goal is to create a company at the intersection of science, art, fashion and social-good.  Our motto is Purpose > Profit. It’s something that I have always wanted to do as an engineer! My sister, a Laboratory Scientist turned Fashion designer thinks in that direction as well and I know this is going to be one amazing journey for us. But, before we even start, I wanted to make sure that I show appreciation to the folks at Blogher. I was scared to travel down to Silicon Valley all on my own, from Ohio, but I knew that following my heart has never lead me astray. And when I got to meet all the wonderful people who genuinely care about women and entrepreneurship, I knew I had made the right decision.

If you want to stay updated on my start-up, feel free to subscribe to ThinkFeminist for now. We’ll send out key updates as we go on this journey.

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Startups that are Solving Some of the World’s Toughest Challenges

March 25, 2013

Last week, I was at the Blogher Entrepreneurs Conference where I met entrepreneurs, investors, venture capitalists, bloggers, CEOs and many more. It was by far the most influential conference I have had the honor of attending. I learned a great deal about the entrepreneurial challenges, triumphs, funding and many other important words of wisdom crucial [...]

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