After listening to the inspiring stories of fellow entrepreneurs last night at the BETA State of the State event, and reflecting on the rollercoaster ride bootstrapping my last startup to a successful exit ?? , I'm once again reminded of two critical factors in your startup's success: grit and having a strong support system.
If you want to make it as an entrepreneur, you must find a way to use adversity to your advantage. Each time I failed to gain acceptance to startup accelerators and incubators (I believe I failed 5 times?!), I felt the sting of rejection, self-doubt, and fear of going it alone. After a day or two of wallowing ??, I gave myself a kick in the pants: ‘Ok Katie, you can let others define you and your ideas, or you can prove them wrong. Show them what you can do.’ ?? Use rejection and being underestimated as rocket fuel. ??
?? Lesson learned: Getting support and advice you'll need can be achieved in many ways. Reflecting back, I realize I had an extraordinary informal network serving as my invisible accelerator. From wonderful friends, especially fellow warrior moms I'd stood beside in school and community trenches, to the support of my sons and their friends (who may still be recovering from my labor exploits ??), and the helping hands and cheering of family members, amazing customers who shared their love of our products, incredible employees, vendors and advisors who were truly my partners in success, and very generous local media who shared our story – my tribe was there every step of the way and I could never have succeeded without them.
?? Building a startup network is key. Whether it was the incredible group of entrepreneurs led by Kate LaBrosse who saw me through some dark times, or last night's BETA State of the State event in Minneapolis, I’m reminded of the immense power of connections. Making time for fellowship with like-minded entrepreneurs (and those supporting us), to share information, struggles and celebrate sweet victories, is a game-changer.
Now, as I embark on the exciting journey of launching Blyngz, I'm reminded of the importance of paying it forward. I had a revelation last night at the BETA event, surrounded by brilliant minds shaping Minnesota's startup landscape. It reaffirmed the value of community and collaboration.
?? Takeaway: No matter how you build it, a network is one of your greatest assets. Invest in it, nurture it, and watch it propel you forward. As I again delve into the startup ecosystem with Blyngz, I'm not just building a company; I'm contributing to a thriving community.
?? Grateful for the warm welcome and inclusion last night BETA. I'm energized after hearing diverse voices driven to innovate and build bravely. Let's keep the startup spirit alive and continue to inspire and support one another on our incredible journeys.
#StartupLife #BuildingTogether #Blyngz #womenentrepreneurs #grit #powerofcommunity #womenintech
Tomorrow evening, Aneela I., Alec Johnson, Allison Kaplan, and Olaf Kuhlke will take center stage to discuss 'Building a Startup the Heartland Way.' Join us as they unravel the distinct strategies that set success in Minnesota apart from Silicon Valley or the East Coast.
Join us at the Luminary Arts Center in the North Loop for BETA State of the State – an evening full of insights, networking, drinks, and Nosh Posh Snacks! Don't miss out on this opportunity to connect and learn from the best in the business."
Get your ticket for the event here: https://hubs.la/Q02lPjl50