Let's Start Up Issue 11 | Do the Work 🗣
POV: You're a founder building a startup
Hi there 👋 Welcome to the Let's Start Up newsletter, curated by me, Janine Sickmeyer, a tech founder turned angel investor. Follow me as I share startup tips, industry news, founders you should know, and investors putting their money where their mouth is. Let’s Start Up, is a community of its own with an emphasis on the overlooked and underrepresented.
What's In This Issue 🗞
A brief look into what you'll be reading about
Notes on how white people can make small steps to be a better ally in tech
Entrepreneurs who are moving tech and recruiting forward
Founder tips to take you into 2021
A new novel you should check out
What's On My Mind 💭
I’ve been thinking…
As the year starts to fill up with virtual events, we need to approach this conversation with racial justice at the forefront. In the technology industry, we often hear the same speakers say the same things on stage at tech conferences and marketing masterclasses but this year let's change the script. I was recently asked to speak on topics I know well like bootstrapping and how hard it is to raise capital in a niche market as a solo woman founder. I enjoy sharing my journey and inspiring others to take action in their own life and not let fear or imposter syndrome hold them back. But there's something I am doing before accepting any speaking opportunities or press mentions this year. I am asking the event coordinators or reporters what they're doing to help the racial justice gap.
It's simple. I ask 2 questions and then I help if they need it. A few people commented that I should add #3 to the list "What will they be getting paid?". I am not an expert on diversity and inclusion but I know people who are and chances are, you do too. It takes work to source a diverse event, I know because I had trouble doing it just last year. It wasn't a pipeline problem, it was because I wasn't searching in the right places. I was talking to the same people, about the same topics. You have to get out of your comfort zone and do the work.
Let's talk about ways to find Black, Latinx, and Womxn people who can speak at your event this year.
I sent out a tweet to see if it would drum up some interested and diverse talent and found a lot of my connections are eager and excited to talk on many different topics ranging from governance for startups to pop culture in social media.
The site Women And Color is a directory of talented women and people of color available for speaking opportunities at tech-related events.
Minda Harts, the author of the best-selling book, The Memo, also collected a long list of people who are looking to add Public Speaker to their bio this year.
I realize that we have a long way to go on diversity in tech but I know that if I can put racial justice at the front of my mind in everything I do, and actively think about how to give equally to all people, not just people that look like me or live in my neighborhood, then maybe it can spiral to others. I ask my kids at the dinner table who they play with at school, how they were being inclusive, and tell them about the problems with society when we are not inclusive. They know about racism and white privilege. They understand what Black Lives Matter means. They know that they have access that other people don't just because of where they live and the color of their skin. So yes, while I might just be talking about giving up a speaking opportunity to someone who might not have the network, it's much deeper than that.
Habits are small changes that make a big impact over time. So if you're a white person watching the news and mad about how this country and how the justice system mistreats innocent Black people and praises guilty white people, you can make a difference by starting small and doing things that are within your ability to help close the racial justice gap. If you are a white person and not mad, then I encourage you to read more literature written by Black authors, educate yourself and learn from Black historians like Rachel Cargle, and anti-racism and anti-bias experts like Brooke Sinclair, so you can help be part of the solution and not turn your cheek when things get uncomfortable. Because that is literally what white privilege is.
Stay safe, friends.
Now on to the startup talk...
What I’ve Been Working On 💁🏻♀️
Things I care about that I want to share
💥 10 Days of Dealflow 💥
For the past month, startups have been applying to be featured in my dealflow newsletter and with so much interest, I have extended the one newsletter into a campaign that will feature a new startup every hour on the hour for 10 days! We're calling it 10 Days of Dealflow. Follow along on Twitter at @LetsStartUpHQ to see the deals in real-time. I'll be sharing a post at the end to wrap it all up. The point is to get these founders funded so RT, share, DM for more details as you come across interesting opportunities.
It's not too late to plan for the new year! My husband and I went on a two-day retreat to a cabin just an hour away from home so we could unplug and work together on our goals. It was exactly what we needed after being cooped up in the house for months. We started with the reflection section, went on a hike, and then came back to do the visualization exercise. The next day we woke up with a cup of coffee and worked through the action plan. The Annual Planning Workbook is for anyone to do by yourself, with a business partner or a family member. I invite you to download a copy of the workbook and find a serene, quiet place to unplug and set attainable resolutions to help you escape whatever last year was and look forward to a brighter path.
Recently Hit the Stands 📰
Things in the news you should check out
Global VC Funding To Female Founders Dropped Dramatically in 2020
We thought the numbers couldn't get any lower, but 2020 proved us wrong. Crunchbase found that last year, womxn founders received far less venture capital. COVID-19 was a difficult year for everyone, but it disproportionately impacted womxn in the workforce. The pandemic might be the cause of a 27% decrease over the same period last year for womxn entrepreneurs. While male startups continued to receive steady funding in 2020, womxn continued to fall short. See the full data analysis on Crunchbase.
I’ve Been in Venture Capital for Two Months. Here’s What Still Makes No Sense
Leah Fessler, an investor at NextView Ventures recently got her start in venture capital. It was difficult to break into the industry, but Leah wants to share the struggles she's facing during her early days in VC. As a non-partner, Leah's role is vague and high-pressure. Using her added privilege as a white woman, Leah speaks up about what just doesn't make sense in VC, including the lack of collaboration and increased skepticism.
Naj Austin built community across time and space
2020 was a devastating year for people of color. Naj Austin, the founder of Ethel's Club, a social and wellness space for POC, opened the clubhouse in late 2019 in Brooklyn, with the intention of making it a physical gathering place. The pandemic took away in-person meetings and collaborations, but that didn't stop Naj Austin and her team. In only four days, they created a virtual membership option and welcomed even more individuals to the club. In 2020, Ethel's Club grew to 1500 members, and Naj Austin is releasing a social media platform for people of color called Somewhere Good in January.
Did you make any modern friends this year? Modern friends are "relationships that originate and develop through digital channels." Friendship is more important than it has ever been in 2021. As author Alexander Nehamas says, friendships help us become who we are. And now that we're relying on the internet to stay connected, forming meaningful friendships on Twitter or other social platforms is even more common. Read more about modern friends and the importance they can play in our lives.
No Meetings, No Deadlines, No Full-Time Employees
Now that's something you don't hear often in the workplace. Gumroad, an online marketplace for creators founded by Sahil Lavingia, changes the way we think about collaboration and employees. And, it's working. Sahil instituted a no-meeting, no-deadline culture so that he (and his employees) could avoid burnout while keeping Gumroad profitable. Gumroad team members are more productive than ever. See how they do it in this post.
Hot Take of the Week 🔥
Somebody had to say it (a debatable thread)
A Little Birdie Told Me 🐦
Tweet of the week
Walk the Walk 💰
Investors putting their money where their mouth is
Jai Malik, an investor and mentor, just announced the first fund of his venture capital firm, Countdown Capital. Midwestern-based, Jai founded a tech incubator and advises deep tech startups and accelerators. With over 10 angel investments in deep tech and product management experience in the AI/ML space, Jai is investing and offering in-house support for tech startups that prioritize ethical and philosophical thinking.
Beyoncé to donate $500,000 to people impacted by the eviction crisis
The coronavirus pandemic has caused many people and families to face foreclosures or evictions. Beyoncé is giving $5,000 grants to those who were affected by the housing crisis. Starting on January 7, 2021, individuals can apply online. This is phase two of Beyoncé BeyGOOD Impact Fund, which helped to set up mobile COVID testing sites and more.
VC Include Announces Fellowship For BIPOC First-Time Fund Manager
VC Include, led by CEO Bahiyah Yasmeen Robinson, is disrupting VC by supporting "diverse fund managers and limited partnerships in venture capital and private equity." The company released news of their first VCI Fellowship for BIPOC First-Time Fund Managers, which supports first-time fund managers raising between $10-100 million.
Launch selects 7 startups for a 14-week program that provides immense opportunity for founders. Launch Accelerator supports founders and inspires innovation by introducing their cohort members to 200+ investors, monthly check-ins, and much more. Apply for the next class here to propel your startup forward.
Founders You Should Follow 👀
Meet these founders who can help you find a new job in the new year
Brittany Bronson, Rebrand Career Consulting
Brittany Bronson is a Career Consultant, Résumé Writer, and an award-winning Diversity & Inclusion strategist. With her Masters in Science and extensive experience in Workforce Development, Brittany started Rebrand Career Consulting, which offers several businesses, career, and academic services to help you accomplish your goals. If you're looking to elevate your company or career, take a look at her a la carte services and packages like cover letter writing, professional development packages, and more. Brittany and her team make it possible for you to rebrand yourself and achieve growth!
Naya Moss, Founder of Frauvis & Namos Labs
Entrepreneur, InfoSec Officer, and Creative Technologist, Naya Moss is passionate about many areas and it shines through her work. Currently, she's working on Frauvis, a community that elevates and empowers black women in tech, and Namos Labs, a family of modern human, tech, and automation brands. Some of her favorite subjects include automation, information security, startups, and remote work among many other things. Naya is doing so much great work in the tech and we love following her journey!
What Founders Need to Know 🤔
Advice and resources you didn't know you needed.
When you're growing your startup, marketing is essential. Daniel Murray, Host at The Marketing Millennials Podcast, shares the best tweets of marketing twitter of 2020.
If you're anything like me, you love a good Twitter thread. But when it comes to crafting the perfect thread, it can get complicated. You have to reference back at the previous tweet and things get confusing. Typefully helps you draft Twitter threads without the distraction so that you can see what the thread looks like before you publish.
When you're talking about your business to investors, potential partners, or customers don't just say what the business does. Tell your audience what it's all about. Offer an explanation of the problem and how your company solves it.
Alex Iskold, tech entrepreneur and founder, shares the 11 questions that founders must ask investors during the first meeting. Asking the right questions can help you get straight to the point and secure funding.
VC Thea Knobel turned to #startup Twitter to find the best advice for launching a startup. After tons of replies, Thea compiled a summary in this graphic.
Cleared for Takeoff 🚀
Just launched startups you should hear about
Starting a company involves a lot of metrics and progress trackings. But all of this can get complicated quickly since your startup is likely using several platforms. Unubo compiles all of the stats and metrics into one place and groups them by category. Staring at data can be exhausting and time-consuming, and Unubo simplifies the process so that you can spend time doing what you love.
Not all founders what to pursue the traditional venture capital funding route. FundStory was built by founders to help founders obtain non-dilutive financing so that they can save equity. Their product is an "all-in-one solution for accessing and securing funding." The newest feature called StoryLines lets you track and share your startup's funding history, and you can even browse other startups.
Startup Bookshelf 📚
What our community is reading.
Black Buck by Mateo Askaripour
Black Buck is a novel written by Mateo Askaripour about a young Black twenty-two-year-old named Darren who is content with working at Starbucks and living in his mother's Brownstone, despite graduating at the top of his class at Bronx Science. But when Rhett Daniels CEO of NYC’s hottest tech startup offers him a sales job, he accepts the position and turns into Buck, a ruthless salesman. As the only Black person working for Sumwun, Buck works to help young POC break into the sales force. There have been incredible write-ups about this book already and I am so excited to dig in this weekend.
Goodbye Burnout 🎧
Podcast episodes to clear your mind or get you moving.
Amplifying BIPOC Consumer Experiences with Nagela Dales (she/her) | As it Should Be
Founder of SLCo & Agency and Idea Trust, Nagela Dales works to make innovation and the experiences of black and brown consumers equitable. Host Thamarrah Jones (she/her) and Nagela cover a wide variety of topics, including biases present in innovation and their experiences growing up Haitian-American. Listen for an insightful discussion.
Before you go 🚪
Check out what you might have missed
Founders want real value-add actions/things/traits from investors. What are they?
Sobriety helped this founder grow in more ways than one.
Tech executives are asking Twitter CEO & Facebook CEO to curb the president's messages.
Thanks for reading! I’ll catch you next time. And don’t forget to share Let’s Start Up with your community!