Goumikids co-founder Lili Yeo says barriers are high for startups, especially by women, that don't plan to be "BIG," and entrepreneurs must "work extra hard just to survive and share your contribution to the world." Yeo says that despite the advantages men starting businesses have, "I have never felt more camaraderie and openness and support in this journey simply because I am a woman and an entrepreneur.
Zebras Unite co-founders Mara Zepeda and Jennifer Brandel say companies that "prioritize people, purpose and profit ... already exist in spades" and encourage women entrepreneurs to focus on "mutualism, shared prosperity and social good over Silicon Valley's 'winner take all' mentality." Zebras Unite helps foster such companies, as do organizations such as Black & Brown Founders, Native Women Lead, Digital Undivided, Founder Gym and Backstage Capital, they say.
Nextdoor co-founder Sarah Leary's social media platform designed for neighborhoods has secured a new, $47 million investment that gives it a comfortable $450 million total. Founded in 2010, the company is a pioneer of online connectivity among people living in the same area, which recently has been followed by Amazon's Neighbors app and Sidewalk Labs' investment in Umbrella.
Ellecor Design and Gifts, which interior designer Haden Long founded with her husband, started out with a focus on retail. By their third year in business, Haden realized that design requests were far outstripping their retail sales, so they changed their focus and moved to a new location better suited to the new business model.
Amy Yeung's inspiration for her clothing business came from the clash of teaching her daughter to protect the environment as she herself was designing activewear destined for landfills. Since then, Yeung has built the Orenda Tribe online apparel business and a brick-and-mortar store, and she is focused on creating jobs on the Navajo reservation in New Mexico.
NAWBO Virtual Connect & Learn: How to Find and Use Non-Dilutive Funding | 5 p.m. ET Thurs., Sept. 12
Come learn about funding how it may apply to your business. In the jam-packed session, you will learn about Non-Dilutive Funding, the difference between Non-Dilutive Funding and Dilutive funding, where, when, and how to find Non-Dilutive Funding and iinsights and best practices for applying for funding.
REGISTER HERE for the Virtual Connect & Learn: How to Use Non-Dilutive Funding at 5 p.m. ET Thursday, Sept. 12. A recording of the webinar will be sent to all registrants. Registrations is open to members and nonmember. This opportunity is hosted in the NAWBO Institute for Entrepreneurial Development. Explore additional resources in the Institute HERE.
Investing too much in unnecessary technology can hurt startups' productivity and remove resources from areas that need them, research shows. "By adopting tech glut-fighting practices, [entrepreneurs] can ensure they have the technology -- and the cash -- to reach their ultimate goals," writes Rashan Dixon.
Growing startups should update their brand when the messaging no longer reflects their offerings, says FastSpring marketing executive Sarah Bottorff. Such change must involve more than just the marketing team because all employees uphold the company message, she says.
Assuming that employees will be as focused on your business' performance as you are is a mistake that can lead to tension, writes Tiffany Delmore, co-founder of SchoolSafe. "This is what you signed up for. It's not what your employees signed up for unless they took a stake in your company," she writes.
The rate at which Americans create new companies hasn't recovered to pre-crisis levels, despite more than a decade of economic growth, a Census Bureau report finds. Applications to form businesses that could be expected to hire employees fell 16% from 2007 to the first half of this year. Meanwhile, a survey by Goldman Sachs of business owners in its 10,000 Small Businesses program found that companies are struggling to find qualified workers and navigate complex regulations, both factors that can slow the formation of new companies.
Business owners who fill prime working hours with high-value activities will nurture their businesses and work-life balance, David Finkel writes. He urges owners to determine how much time they spend on low-value work such as unproductive meetings and tasks that could be delegated or outsourced.
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