Women Who Tech TeleSummit 2012
I first heard about the Women Who Tech TeleSummit back in 2010, after reading a blog post by librarian Bobbi Newman. I have been trying to expand my professional development to areas outside of librarianship, so this affordable ($20!) and accessible virtual conference seemed like just the ticket. And I was not disappointment.
Mostly, I attended the sessions relating to startup culture. Half the time, I had no idea what was going on. Awesome! That almost never happens at library conferences. But it was really neat because I was so intrigued by the things I didn’t understand. I feel like I’ve been exposed to an entirely new vocabulary and I’m definitely going to be investigating some of the speakers’ recommended resources. As someone who dreams about owning her own business someday (there, I said it), it was inspiring to hear from this dynamic, creative, tech-focused group of women. It was also interesting to listen to the discussion with my ears bent library-wards… à la Brian Mathews’ recent “Think Like a Startup” whitepaper. Lots of possibilities for applying these principles within higher education and librarianship.
I definitely recommend attending the 2013 Women Who Tech TeleSummit if you can! Below are my notes. Do you have any thoughts on startup culture or how it might be applied in your field?
- Can you have an idea funded? It’s difficult – you need proof of concept to gain traction. Business is 1% idea, 99% execution.
- You usually have to give something for crowd-funding models (not equity, but a product) so it might not work for something like an online media company. Music, arts, consumer products have been successful there (i.e. Kickstarter).
- CircleUp just launched 6 weeks ago. Depends on the amount of money you want to raise, but at least crowd-funding gives people options.
- Understand the character, values of the people who are investing with you. You will live with them for a long time. Investments go through cycles of good and bad.
- Entrepreneurs often don’t think they have the luxury of being picky about investors, particularly in the early stages when they are just excited to be funded.
- Focus on revenue to have negotiating power. Quality of business model and financial model are very important. Investors have their own agendas.
- (Steinberg recently got a $2 million investment) Now looking at ways to segment her audience at DailyWorth (daily email about money geared to women), launching CreateWorth, hiring more people. Bridge between financial services and women.
- Required reading on start up culture/entrepreneurship?
Professional purpose & one critical decision that has shaped you as a leader?
- Journalism background, technologist, critical cultural thinker. Wants to bring those things together in her profession. Shape young people, is overjoyed to see them surpass her. Critical decision: To start blogging in 2000/2001, lead to her being seen as a leader on and offline (Johnson).
- “hyperlocal site” Oakland Local. Critical decision: thinking about non-traditional career paths, what work would utilize her strengths and be rewarding to her? (Mernit)
- Creating opportunities for women. Critical decision: took a job in an industry she knew nothing about, was confident about succeeding or failing, then moving on to something else (Page)
- What does asserting your power mean within the industry you’re working in? Context/culture matters. Know what battles to pick. I will always pick the battle for the customer, for the user. Back down when it will truly demoralize your staff.
- Learn to understand group dynamics and how to harness that power for the greater good. Confidence is very important for a leader. Taking risks enables self-confidence, absolutely.
- Engage others, bring them in on the conversation, listen to their ideas.
- Women competing with other women? You’re often competing to be the token woman, so it’s understandable. But that’s not a solution.
- Be strategic & display assets that you have that the rest of the group doesn’t.
- As a new manager, how would you form relationships with existing employees? It’s difficult in a corporate environment, people below you may have interviewed for the job. In a small company, things are flatter and it’s easier to assimilate into the culture.
- Ask questions as often as you make statements.
- Practice public speaking – presentation means a lot in leadership. Find mentors. Reach out and help others.
- Make time for yourself, don’t make yourself the last person on the list. Be willing to go around obstacles instead of over them. Don’t stay in a place where you’re stalled.
- “Money doesn’t buy happiness, but it does allow freedom.”
Agile Development and Failing Fast
Sarah Allen (Blazing Cloud, Mightyverse, RailsBridge), Shaherose Charania (Women 2.0, Founder Labs), Tara Hunt (Buyosphere) & moderated by Jen Consalvo (Tech Cocktail, Thankfulfor)
- Agile Manifesto – 2001. Emphasis on working together nimbly. Refined & primarily adopted by the engineering side of software. Promoted on business side through lean startup movement.
- Idea generation, validation, prototype. Cutting out the fat – what can I build today, quickly, at a low cost to test my assumptions? Lean startup – getting data from customer, making iterative changes (small changes each day), designing your product in real time with your customers (early adopters who are OK with a fuzzy product and will give you feedback).
- Minimum viable product (MVP)? When should a product be pushed out? Different viable products for a beta customer vs general population.
- Do you want press or do you want polished product? Get feedback from more than just your friends & supporters. Test with your target audience. How will you define your market? Early MVP can be the smallest unit of work that you can use to test your key assumptions. Doesn’t promise more than you can deliver. Release a tiny product with A feature, not the all the features.
- Failing fast? Take customer data and your vision and merge them. No one is 100% right (you or the customer).
- It’s a challenge to not be afraid of failure. Things we can prove vs things we believe. Assumption might not be completely wrong, but we need to know more about it.
- Is this failing fast culture killing creativity? What are we measuring as failure? What are the metrics? “pitch deck” Failing fast versus succeeding slowly.
- Agile practices – balancing art vs science? Unique to your team, the vision for your startup & their appetite for risk. Startups are creating something from nothing, isn’t that what artists do?
- The Starfish and the Spider, by Ori Brafman and Rod Beckstrom
- Find tools that work for your team. It’s about communication and collaboration.
- Don’t take funding for as long as possible. Be independent. Allows you to tweak, think about things differently.
- ⅔ of new startup ideas right now are not new, they are mashups, derivatives. Not that those aren’t important.
- “Creative Fridays” – stretch your mind in a different way for a few hours.
- Intellectually give yourself permission to do stuff that seems completely unrelated on a regular basis. Something that seems fruitless to keep your mind alive.
- Have a personal board of advisors during this time. A startup can be chaotic and lonely.
- Write down what you think the vision of your product is, what your key assumptions are and how you intend to test those assumptions.