Last week I guest lectured for a capstone MBA class at California Lutheran University, which utilizes the Scroobious pitch framework as the basis for creating a new venture pitch. As I reflected on my professional journey in preparation, I realized that I've been pitching my entire career.
OPEN YOUR OWN DOORS
During both my undergraduate and graduate studies, I worked in labs and internships for class credit after convincing my professors that experiential learning was critical. Professionally, I've created new roles by pitching the value I'd bring. I've raised over $10M for my companies with fundraising pitches, and most recently, I pitched legislators through testimony to get a new law passed and am working on multiple bills around equal access to capital.
WHEN YOUR IDENTITY IS THE RISK
My only roadblocks have been gender-based. After we had our first child and I returned to work from maternity leave, I was marginalized and forced to choose between cross-country travel or nursing my son. I chose my son and experienced a career interruption. Later on, I experienced extreme gender bias when we were trying to raise our Series B at my last company, and I internalized those challenges as personal failures.
What I didn’t understand until recently is that my identity is a risk to some that I cannot mitigate.Â
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For my employer, motherhood was perceived as a risk to productivity. For investors, gender is a risk because it doesn’t pattern match, and they don’t have shared lived experience.
Risk underlies decisions that have to do with money.
RISK AND INVESTORS
Think about your own financial decisions. How do you weigh risks compared to decisions with no financial impact? Now, imagine those decisions magnified on a grand scale for investors. It's not just about the potential returns; it's about mitigating risks along the way.
At every funding stage, risk tolerance fluctuates. Angel investors may have a higher tolerance, but as rounds grow larger, so do the stakes. That's why it's crucial to craft pitches that not only highlight the upside but also address the inherent risks.
Here's where the real magic happens: diversity. It's not just a buzzword; it's a game-changer. The data proves women and minority founders' ability to overdeliver on dollars invested, so any rational investor would understand the fiduciary duty to their Limited Partners to put capital behind an undervalued asset class. Founders should also expand their definition of an investor beyond VC to reach capital sources that don't view their identities as risky.
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STOP THE INSANITY
By utilizing scalable technology to foster connections and shared experiences between funders and founders, Scroobious is reshaping the investment landscape.
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Through policy initiatives like CA SB54 and MA S978, we're making diversity data public for venture capital transparency, establishing protections for
entrepreneurs during fundraising, and educating investors about the financial incentives that come with investing in diverse founders and fund managers.
The definition of insanity is doing the same thing over and over again and expecting a different result. It's time to break the cycle of repetition. For investors, it's about embracing diversity in their investment strategies. For founders, it's about finding the right doors to knock on and crafting pitches that resonate with diverse audiences. |
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Keep reading to explore great upcoming events and opportunities below, and don't overlook our featured founder at the end! Thank you for reading. Thank you for supporting us. I appreciate you. |
Allison Byers, Founder & CEO |
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New Team Member: Please join me in welcoming Christina Quinn as our inaugural Investor in Residence! Christina has a broad range of experience in venture capital, the startup ecosystem, and is currently General Partner at SSC Venture Partners. She will leverage her entrepreneurial and investor experience to empower our founder community through mentorship and guidance, content creation, network engagement, and brand ambassadorship.Â
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Virtual Workshop:Â Join us TODAY, 4/30 from 2-3 pm ET where Rachel Cossar, co-founder of Virtual Sapiens, will discuss the underlying science behind impression formation, with a special focus on the messages pitching founders are sending with their body language and nonverbals.
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Fireside Chat: Join us for a Fireside Chat on Thursday, 5/16 at 2 pm ET with Melissa Withers, Managing Partner at RevUp Capital. Melissa will discuss how a business's unit economics might affect the timing of a founder's fundraise and the different types of funding strategies to consider. In her own words, Melissa "is a BEAST," and you do not want to miss this.
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Event: Three Interesting People (3IP) is an informal community gathering that gets together a few times a year. No agenda. No sponsors. No RSVPs. We’re fostering a spirit of openness and helpfulness in Boston’s startup community. The next one is at the plaza outside the Tatte Bakery at 125 Summer Street in Boston on May 1st from 8:30 - 10:30 am ET.
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Event: I am SO excited to be speaking at the 10th Yale University Innovation Summit and Connecticut's biggest entrepreneurship event. In celebration, the inspirational Dr. Chelsea Clinton will deliver the opening keynote! The agenda is packed with some serious heavy hitters. Catch me on a panel on May 29th from 9 - 10 am ET.
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Podcast: Simon Hepworth, Director of Enterprise at Imperial College London hosted this TenU session about what makes an ideal startup team with a focus on how to build and leverage diversity when spinning out from an academic institution.
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Event: MDS Studio (where I'm Entrepreneur in Residence) is hosting a Preview Showcase & Reception on May 9 in NYC to connect our fantastic 2nd cohort of startups to investors, advisors, pharma, biotech, and pharma services leaders. Come meet our 12 incredible teams! |
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She's Connected by AT&T:Apply today to become a part of the She’s Connected by AT&T community and for a chance to win $50,000 for your small business, along with the full support of the She’s Connected by AT&T platform. Applications are due 7/10.
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Accion Opportunity Fund:The Accion Opportunity Fund, LegalZoom, the NBA, WNBA, and NBA G-League have joined forces to provide entrepreneurs across the country with
grants and LegalZoom services to support their small businesses. Applications are due 9/13.Â
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Kroger Conference: The Kroger Nourishing Change Conference is dedicated to exploring the transformative power of Food as Medicine as well as other critical personalized health interventions that can improve the well-being of individuals and communities. Founders can apply to showcase their brand. |
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Hackrah Media is a full-service Gen-Z-led marketing agency that empowers mission-driven and impact-first organizations. |
Steal our quick & simple step-by-step guide to a marketing campaign: |
- Identify your goal (launch a new product, generate leads, boost sales).
- Keep your audience in mind! Research and understand their needs.
- More research on your market and competitors.
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Build out your marketing strategy - select key channels, allocate budget, develop messaging, etc.
- Logistics next: establish a timeline, note down milestones and deadlines, and dedicate resources and team members.
- LAUNCH!!!
- Collect data, measure and analyze results, and reflect on successes, failures, and lessons learned for your future campaigns.
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The TL;DR on Marketing Campaign Strategy: - You can’t have a marketing campaign without the audience! They are the heart of everything…so revolve your strategy around them!
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Looking for examples of successful marketing campaigns? Read here to learn more.
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Each newsletter features the perspective of one of our members. I encourage you to reach out to offer networking, investment interest, or expertise. |
This month, we highlight Laura Schaack, Founder and CEO of Tattd, an app that connects people to local tattoo artists who are perfectly tailored to their needs while providing a platform for artists to market themselves to their ideal clients.
Through advanced search functionality, aggregated data points on every consideration people make when choosing an artist, and a comprehensive database of the most sought-after tattoo artists, Tattd is bringing the industry into the 21st century. |
"Tattd is the culmination of my 10-year career at early-stage startups and my love for the art of tattooing. With 22 tattoos and counting, I've personally felt the pain points that the tattoo community experiences over and over again. My background studying art history at NYU and being the daughter of an artist, my understanding of the artist's perspective is thorough. I still can't believe this market remains untapped and I'm excited to be the person to tackle it! "
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Do you want to be more Scroobious? Let's chat! |
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