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.
Burnout and depression for founders, and how you can avoid it
Personal things I've been working on
Founder spotlights on two amazing Black womxn
What's On My Mind 💭
I’ve been thinking…
As the winter months approach, it's time we talk openly about founder burnout and depression. On top of the typical struggles a founder might face, we now have the effects of the pandemic to deal with too and if you're keeping safe, you're stuck inside. I saw this tweet this week from Ryan Hoover, founder of Product Hunt, who was sharing a story from Joel Gascoigne, founder of Buffer about burnout. I'm lucky to have been building right alongside both of these guys back when I started NextChapter. I have personally met with them, I've gone to them for advice, and I looked up to them as digital mentors. Joel and Ryan have always been transparent founders sharing most of their journey online but even as much as I know Joel, I never knew he battled burnout to the extent in his post. My point is, no matter how much you think you know someone, they could be struggling inside.
If you're one of these people, hiding the worries with a big bright (and forced) smile every time someone asks you how your startup is going, just know that most founders have been there and it's ok to say you're not ok. Let's break down why this is happening. You made the decision to start this new venture and now if you can't hit x milestone by x date, you feel like a failure or even more importantly, you can't put food on the table. This is sadly the reality of so many entrepreneurs. I was both embarrassed and unable to financially keep going, several times. I looked for jobs, and I actually joined one startup as a CMO halfway through my journey. But as a scrappy founder determined to make it work, I figured out ways to make just enough to get to the next milestone and keep my startup alive. But you better believe I still burned out.
Before you get stuck in the trough of sorrow, let's talk about ways to avoid burnout as a founder.
When you burnout, your business burns out.
It’s important for founders to recognize the signs of burnout and make changes. How?
Take a break.
Don't feel guilty about logging off a little early for the night or keeping your laptop shut for the weekend. Establish boundaries, and communicate them with your co-workers.
Phone a friend.
Sometimes you just need someone to talk to. Call a friend or family member, you'd be surprised at how good it feels to let it all out. Plus, you never know how much another perspective can help.
Get outside.
Now that the temperature is dropping, it's easy to stay inside. Make it a point to switch up your routine by going on a hike or walk around the neighborhood get outside to explore.
Start therapy or coaching.
It can be very helpful to work through your emotions and situation with a professional.
Write, journal, and meditate.
Be mindful and pour everything out on paper. Writing and meditation are both great ways to understand your emotions and reduce stress & anxiety.
Make a commitment to prioritize yourself.
When in the building stage, many founders put their startup first (yes, even over their physical and mental health). Strike up a balance, prioritize your wellness, and make time for yourself.
Be willing to say no.
Not every opportunity needs to be taken and not every task is worth doing. If you don't have enough time or it doesn't serve you, reject the offer.
Move.
Find an activity that you enjoy to help you de-stress. Running, barre, yoga are just a few suggestions.
Set realistic goals.
Optimism is great, but when you're setting goals it's important to make them attainable. Save yourself the disappointment of not reaching outlandish goals.
Chill out with a movie.
One of the best ways to relax is by watching a comfort movie like You've Got Mail or When Harry Met Sally. We all need a little escape at times.
Lastly, I want you to remember this mantra: You are not your work. Yes, following this is much easier said than done and it requires ongoing work. I have personally worked on it a lot in therapy, and I'm not finished yet.
With all of that, I'd like to send you off into a restful weekend.
P.S. Check in on your friends that might be suffering right now.
What I’ve Been Working On 💁🏻♀️
Things I care about that I want to share
Not everything has to be about work, so this week I'm putting my own advice into practice. I'm sharing things related to being a mom, spouse, and friend because as I said above, you need time for YOU or you won't be able to give time to your startup.
I've been focusing on healthy habits before the cold weather hits and so I broke down and bought a Peloton (arriving in Nov) and started focusing on better eating habits by tracking my workouts and food choices in Noom. Look at other ways to get through covid in the winter with this tweet by Danielle Morrill.
Parenting Flex.
My twins turn two years old on Sunday (😭) and for a mother of 4 children under the age of 5, one of my biggest flexes is keeping up with physical family photo albums every month. All you need to do the same is the FreePrints app, which gives you 75 free prints per month, and a Kolo Hudson 3 albums. I've been using these two products for years, and I love them!
Outsource the rest.
People ask how I do it all. My secret is that I don't do it all. My family is big and wild and beautiful but there is no way I can handle all 4 of my small children AND a business AND the household AND AND AND. My husband and I are 50/50 and I wouldn't have it any other way. We have also worked hard to afford a lifestyle that allows us household help and caring nannies that have become part of our family. I'm telling you this because people often compare themselves to others based on what they see online. By the time my twins (babies number 3 & 4) came along, I removed all guilt of having people help us and began to embrace every minute of my freedom when they do.
It's important to find what works for your family, don't judge others for their decisions, and don't compare your messy life to someone else's photo reel.
18 books all founders need to read
When I was starting my business, I read just about every book I could get my hands on. It was hard to find books that actually taught me how to build and grow a business without the fluff. Diversify your bookshelf with this list, featuring 6 books written by Black womxn, 6 by womxn and people of color, and 6 by men.
Recently Hit the Stands 📰
Things in the news I think you should check out
Root Insurance IPO Sells Above Target
Columbus' own Root Insurance broke a record with the biggest IPO win in Ohio History. Priced above its target range, Root sold 2 million more shares than projected. This auto insurance company raised $724 million, and sold a total of 26.8 million shares at $27 per share.
All Raise sat down with Sutian Dong & Jessica Peltz Zatulove of Women in VC, a global community for female investors. The two just published a report that revealed NOW is the time to invest in women and investors are passing up an incredible opportunity. The statistics of women-founded startups and founders might bleak, but now is the time to turn things around, according to Women in VC.
Real-Life Angel Investing Returns 2012–2016
Since 2012, Yun-Fang Juan has invested in over 150 startups through direct investments, special purpose vehicles, and crowd-funding platforms. In this article, Yun-Fang shares WHY angel investing is worth doing, from high returns to putting money directly into the economy.
Gen Z VCs Weigh In: Top 4 Trends We’re Watching and Our Favorite Companies
Yes, Gen Z's have joined the VC world. Meagan Loyst, an early-stage investor at Lerer Hippeau, talked to 71 young investors from ages 18-25 to identify the hottest trends. Some of their favorites include education tech, social gaming, and the creator economy. Discover more about the top brands, mission-driven companies, and more from a Gen Z VC's perspective.
Breaking Into & Thriving in VC
Cowboy Ventures, Palo Alto-based VC firm, believes everyone should have access to the knowledge for breaking into venture capital. Their team put together resources for anyone interested in venture capital, with tips on how to succeed in the industry. Take a look at the three slide decks they just released online.
The Myths of Follow-on Investing Debunked
Follow-on investing is a hot topic right now, but there are a lot of myths circulating about it around founder and investor communities. Elizabeth Yin posted a video on how to think about follow-on investments in startups on her blog.
A Little Birdie Told Me 🐦
Tweet of the week.
Hot Take of the Week 🔥
Somebody had to say it.
Walk the Walk 💰
Investors putting their money where their mouth is.
645 Ventures Closes $160 million Fund III
645 just announced it's third fund, which included exceptional Seed and Series A companies. With this comes even more news - the start of 645's Connected Network of individual investors. Read more about this round of investments, which backed founders focusing on SaaS, infrastructure software, and consumer technology.
Dallas’ ShearShare Receives $2.3M in Funding
ShearShare is a marketplace that connects stylists with salon seats. Courtney Caldwell and her husband Tye started the company in 2017 and with this new seed round and a grant from Google for Startups Black Founders Fund, they're growing even more. Let's congratulate the Caldwells on these huge milestones!
Edlyft’s $1.4M Raise to Create the Next Wave of Engineers
Edlyft just secured 1.4 million in funding to help students excel in their STEM courses. This company, founded by former Facebook and Google engineers Erika and Arnelle (two Black women founders!), gives students the tools needed to gain a competitive edge in collegiate Computer Science programs across the country. They support students with study notes, student mentors, and group tutoring sessions. Edlyft is ushering the next round of engineers!
Trailblazer Kesha Cash Raises $55 Million For Impact America Fund
Kesha Cash, founder of Impact America Fund, recently closed a second institutional fund, which is $45 million more than her first fund in 2010. Impact America Fund is dedicated to investing in overlooked founders. In fact, Kesha reported that 80% of the companies included are led by a person of color 🎉
Founders You Should Follow 👀
Meet these founders who are making moves.
Vivianne Castillo, Hmnty Cntrd
Vivianne Castillo is a Humanity in Tech Advocate-Warrior who manages design research and innovation teams. She founded Hmnty Cntrd, which is a community and 5-week online cohort to connect growth-oriented individuals in UX. Vivianne advocates for choosing courage over comfort and wishes to build a future of equitable, inclusive, and more humanity-centered design online and through Hmnty Cntrd. If you're a UX design professional, make sure to join the next cohort starting on January 24th.
Dawn Myers, THE MOST
Founder, speaker, and educator Dawn Myers inspires entrepreneurs to leverage their ideas and create a successful business. Dawn is experienced in many areas, such as product development and law. Her newest venture, THE MOST, is a company that makes hair tools that solve the toughest problems with ethnic hair. THE MOST stands out because it is a "hardware company in a sea of curl creams." that creates tools and appliances just for textured hair. Congrats to Dawn
What Founders Need to Know 🤔
Advice and resources you didn't know you needed.
How to write an email intro request
If you're in the startup world, you are probably familiar with the power of email intros. If you're a founder asking someone in your network for an introduction, there's a right and wrong way to do it. Feld Thoughts outlines exactly how you should structure an email to get more introductions.
Why you should grouping your users into cohorts
Cohort analysis is a type of analytics that involves breaking your customers into groups and are segmented by behavior in a period of time. With cohort analysis, you can identify what trends a customer exhibits across their lifecycle.
Are you preparing for a pitch? Daniel Li, an early-stage startup investor, lists out tons of questions that he would ask when meeting a startup founder for the first time. This article provides insight into what information VCs are really looking for when asking a given question
Startup Events You Can't-Miss
Skip the FOMO and get your pass.
Startup School for Future Founders | November 5, 2020
Y Combinator developed a new curriculum for Startup School targets JUST for future founders. Included are courses like "How to Talk to Users" and "Before the Startup."
Founder Playbook: Raising a Series A with Helen Adeosun | November 9, 2020
Helen Adeosun, CEO & Founder of CareAcademy, and Kimberly Foster, an investor at Launch with Goldman Sachs are hosting a virtual workshop for Series A funding success.
Future Founders Conference | November 18, 2020
A one-day virtual event just for women who aspire to become startup founders, hosted by Y Combinator. Join for tactical advice from founders and YC Partners.
Startup Bookshelf 📚
What our community is reading this week.
It’s About Damn Time by Arlan Hamilton
How to Turn Being Underestimated into Your Greatest Advantage
From food stamp recipient to venture capitalist, Arlan Hamilton's journey is quite remarkable. In her forthcoming book It's About Damn Time, Arlan shares her story while providing thoughtful advice that she learned along the way. This book acts as a guide for the underestimated who are looking to find their voice. Arlan teaches us exactly how to own your disadvantages and work your way into any room.
Before you go 🚪
Check out what you might have missed
Comedian Sarah Cooper's new show just launched on Netflix
Writing actually makes you smarter. Here's how
Why you might want to start working 25-30 hours per week
Sometimes, the best thing for you is to quit
Thanks for reading! I’ll catch you next time. And don’t forget to share Let’s Start Up with your community!