Let's Start Up Issue 6 | If it's not a hell yes, it's a π π»ββοΈ
POV: You're a founder building a startup
Hi there π 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. Letβs Start Up, is a community of its own with an emphasis on the overlooked and underrepresented.
What's In This Issue π
A brief look into what you'll be reading about.
Setting boundaries and saying no
Women and immigrant founders in the news
Two founders making moves in the world of CPG and anti-dieting
What's On My Mind π
Iβve been thinkingβ¦
In the world we live in today, it seems as though we are all accessible. We carry our phones with us everywhere we go, we sit in front of a computer and do video meetings with people more than we see actual humans in the wild. And because of these things, it's hard to turn off and hard to say no. Yes, being a startup founder or budding entrepreneur means that you're adaptable, driven, and hardworking. But that doesn't mean you should ignore your own personal limitations and boundaries.
When you're in the early stages, you want to take every opportunity that comes your way but let's be honest, sometimes the things you say no to actually provide you with a great opportunity - the chance to rest. This week alone I said no to several opportunities and turned down multiple mentorship and advisory calls. It's not because I don't want to help people or share my insights; it's because I need my own time and that's okay.
I am here to say that you don't NEED to have a reason to say no. We appear to be accessible at all times because of the internet but the reality is that no one has access to us 100% of the time and we are free to say no, turn down meetings, and not attend a zoom birthday gathering just because we simply don't want to. And setting boundaries with loved ones and family members right now are especially important. Of course, we all want to see each other but for the greater good of the country, it's more important to have a family un-gathering. We can still be grateful for one another while apart.
Let's talk about how to set personal boundaries during a pandemic.
First things first, I heard once that if it's not a "hell yes, it's a no". That seems appropriate right now.
If someone asks you to be on their podcast or speak at an event and you're not up for it, you should recommend a Black person to take your place. This is your chance to be an ally.
Remember that it's OK to decline business from a potential client or paid opportunity too. You don't have to say yes to everyone. And you don't owe anyone a reason.
The family wants to visit and you're uncomfortable having anyone over? Tell them that. They will be upset at first because they miss you but it's better for everyone that you don't sacrifice health for someone else's feelings.
As we head into the weekend, remember to set your own personal boundaries.
What Iβve Been Working On ππ»ββοΈ
Things I care about that I want to share
Founder's Gift Guide
The holidays are coming up soon! Even though the holidays look a little different this year, we can still celebrate. I'm putting together a gift guide just for entrepreneurs. Who better to ask for gift ideas than fellow startup founders? Send me your favorite gadgets, products, and anything else you love that would make a perfect holiday gift. Look out for the post in the coming weeks.
Stagger, one of my portfolio companies, relaunched their new website, and blog this week! The new-look identifies the purpose behind their product: helping brands tell their stories through compelling design. And, the graphics and animation on the site are stunning. Take a look around Stagger's new website and see how their app gives you the tools to tell your company's story effectively.
As I shared in the last issue, I'm writing a book about my startup journey as a solo woman founder. I'll be honest, writing a book is hard work and it's different than anything I've ever done before. I started working with Danielle Anderson, a book coach, earlier this year for guidance during the entire process - from ideation, the book proposal, manuscript review, and so much more. Visit Danielle's website if you want to become a published author! https://inkpaperpublish.com/
Recently Hit the Stands π°
Things in the news I think you should check out
Itβs crazy, but I started my own bank
Anne Boden, founder, and CEO of Starling decided to create a bank because of her frustration with modern finance and Britainβs broken banking system. Anne Boden is breaking stereotypes with her app-based bank that has won Best British Bank and several other awards. She reimagined banking in the male-dominated industries of finance, technology, and startups. Read more about her incredible story and how she grew Starling Bank to 1.8m customer accounts and a staff of more than 1,000 (with 40% of women in the senior roles).
The Double Standard of Female CEOs Moving Fast and Breaking Things
There's a problem that we need to address. Women CEOs are criticized for their mistakes more than their male counterparts. Over the last few years, there have been a number of women in leadership positions were forced to resign and apologize after making a risky move. Charlie O'Donnell shares the harsh reality women founders and leaders face, and how toxic work environments and news coverage are making matters worse.
The Real Reason Your Startup May Be Struggling
Founders have ninja-like skills. They're able to manage about a hundred challenges at once and grow their startup from the ground up. But sometimes the challenges that arise are caused by the founder themself. The problem many founders are having? Lack of communication with their co-founder. The good news is, you can break the cycle and set your startup on the right path for success with great communication skills with advice from Reboot.
Kansas welcomed my immigrant parents. Then I built Dropbox, an $8 billion company
Arash Ferdowsi, the son of Iranian immigrants, co-founded Dropbox in 2007. Since then, the tech company has grown to over 600 million users and $1.7 billion in revenue. His parents moved to Kansas City in search of more opportunities, and they were welcomed by their community. In this article, Arash shares his background and the importance of giving immigrants the support they need to flourish and innovate our world.
A Little Birdie Told Me π¦
Tweet of the week.
Hot Take of the Week π₯
Somebody had to say it
Walk the Walk π°
Investors putting their money where their mouth is.
Seven Seven Six invests in Founder well-being
Alexis Ohanian's venture capital firm support startups and the people who run them. He says that founders are the investment, and we couldn't agree more. Seven Seven Six sets aside 2% of what they invest in founders exclusively for health, well-being, development, and caretaking. Congratulations to Seven Seven Six for setting a new standard π
Since 2015, Arlan Hamilton's investment firm Backstage Capital has been giving underrepresented founders access to funding. The last five years were full of intentional and groundbreaking investing for Backstage Capital and they released their 5-year report to highlight the "past, present, and future" of the firm and diversity in venture capital. In this report, Backstage shows the hard data behind their investments and what other investors and companies are doing to make an impact.
African fintech startup Chipper Cash raises $30M
Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled founded Chipper Cash in 2018, which allows person to person mobile payments in seven African countries without a fee. This fintech startup just raised $30 million in Series B funding, which was led by Ribbit Capital and Bezos Expeditions. Chipper Cash is adding even more features, like a Bitcoin marketplace and the option to invest in U.S. startups.
Founders You Should Follow π
Meet these founders who are making moves.
Jelena Jansson, Chunkie
Jelena Jansson founded Chunkie, an app that acts as a body confidence companion, to help people stop crash dieting. The app isn't for dieting, instead, it offers guidance on building a "better relationship with food, body, & mind." No restrictive dieting is involved, but there is a lot of support and encouragement from peers and mentors. Jelena is creating a safe platform to help us get BEYOND the scale, and this is the app we didn't know that we needed!
Andrea HernΓ‘ndez, Snaxshot
Product oracle at vibes.capital and forecaster Andrea HernΓ‘ndez started Snaxshot to provide insights and a market breakdown for the food and beverage industry. In each email, Snaxshots outlines upcoming trends and opportunities and challenges that companies in the industry might face. Andrea HernΓ‘ndez "sees for you" so you don't have to sift through the saturation and noise. We love this novel idea from Andrea and her eye for aesthetics. Subscribe to the Snaxshot substack (say that 10 times fast) here: https://snaxshot.substack.com/
What Founders Need to Know π€
Founder tip! Sponsor a niche newsletter
Take your marketing outside of the box by sponsoring a niche newsletter. Mac Conwell says this growth hack can help you reach customers more effectively and cheaper than google ads.
Notion has changed the way my team and I work. It's like Trello, Google Sheets, Word, and more all in one. Founders, you need this.
When you're starting a company, it's easy to overcommit to engagements, become a little too adaptable, and get caught up in being a perfectionist. But this might be causing you to burn out.
On Wednesday, Bitcoin prices saw record-high numbers. Check out this thread from Amanda Goetz to see how you can get in on this hot investment opportunity.
Startup Bookshelf π
What our community is reading this week.
A Promised Land by Barack Obama
Just this week, Barack Obama released his memoir, A Promised Land. He thoughtfully shares how he went from finding his purpose of becoming the president of the United States. A Promised Land details the first term of his presidency, which involved many landmark decisions and transformations. As the 44th and first African American president, Barack Obama reflects on the challenges and success he experienced while being on the world stage. I already started this memoir and can't put it down.
Before you go πͺ
Check out what you might have missed
Twitter now has stories, and users can't tell if they like the new feature. To fleet or not fleet?
The Wall Street Journal announced its list of women to watch in venture capital.
Tea can be a healing tool. Big Black Tea is helping the world heal and recover with a warm cup of tea.
BuzzFeed is acquiring the Huffington Post, uniting two digital media giants.
Thanks for reading! Iβll catch you next time. And donβt forget to share Letβs Start Up with your community!