Why Web3 Will Be the Age of Creators

With the exponential growth of digital-first businesses during the pandemic, content creators have become an increasingly important part of the global economy, and their impact is only growing. Last year, the global digital content creation market had a projected valuation of $13.4 billion dollars, and it’s expected to balloon to $38 billion by 2030.

However, the current state of content creation is far from perfect. Traditional production platforms and business models have been slow to adapt to the changing landscape, leaving content creators with limited options for monetizing their work. One potential solution is Web3, a decentralized platform that allows content creators to directly interact with their audience and generate revenue, which was a central theme of Future Summit: Austin, presented by Mastercard.

It’s not hyperbolic to say that Web3 could revolutionize the content creation industry and provide content creators with more opportunities to succeed in business than ever before. “There are five billion connected consumers, businesses, and people around the world, and the possibility of that and what it can create is totally unimaginable—the opportunity is vast,” Nicki Grant, SVP of North American Consumer Marketing for Mastercard, shared during a panel on Web3 and Beyond at Future Summit.

Specifically, Web3 can provide more transparent payment systems, more efficient platforms for content distribution and promotion, and the potential for content creators to develop new and innovative business models. “Web3 is where we come in and create the story,” says RhondaX, founder of RXVR Brand, an agency that helps businesses find their digital footprint in the metaverse and the creator of Mastercard's metaverse-driven Small Business City. “We’re building our own worlds and creating our own narratives. It’s the era of the creatives. It’s like a foreign language, but it’s something that’s our future.” Here’s how Web3 benefits content creators.

Web3 will make it easier for content creators to get paid

One of the greatest challenges facing content creators is receiving payment for their work, and Web3 promises to overhaul this process. By leveraging the power of blockchain and smart contracts, Web3 enables users to receive secure and transparent payments directly. The use of blockchain technology ensures that all transactions are securely and immutably recorded on a distributed ledger, providing a transparent and accountable payment system.

While we may not all be conducting payroll on the blockchain just yet, as of now, there are plenty of ways that digital payments can make life much easier for small business owners and content creators who work with multiple businesses. Whether it's establishing your online presence, learning how to protect your business from cyber threats, or enhancing your digital operations, check out the resources found on Mastercard's Digital Doors to better understand your strengths and weaknesses and get customized recommendations to help secure your digital world.

There, you’ll learn about how Industry 4.0 is defining the future of business payments, leading to worldwide payments reform, as well as how services like real-time payments, B2B payments, automation innovations, and ePayables are rewriting the payment playbook.

Web3 will provide more efficient platforms for content distribution and promotion

Another challenge facing content creators is the distribution and promotion of their work. Many platforms that distribute content today are often controlled by centralized third-party intermediaries (think: Google, Instagram, TikTok), which can limit the reach of content creators’ work.

By leveraging the power of decentralization, however, Web3 enables users to interact directly with each other without the need for a middleman. This reduces costs and increases the speed of content distribution and promotion.

In addition, Web3 can provide content creators with access to a wider audience and new markets by leveraging the power of community. "This is something that we've never experienced before where you're coming into a brand, you're coming into a community, and you actually have a say and what you're going to do there," says Jules Dudko, founder and CEO of FrequenC, a Web3 agency. "You can build along the founders, you can get as involved as you want."

Web3 will offer content creators new and innovative business models

Because of its decentralized operating system and direct-to-consumer capabilities, Web3 opens up a world of new opportunities for content creators to explore when it comes to their business strategies, such as tokenized subscriptions, pay-per-view content, and microtransactions.

“You may have heard about universal basic income, or what might it look like for us to solve poverty through universal basic income,” says Riana Lynn, founder of Journey Foods. “Well, Web3 allows us to do that.”

Web3 will also help creators like artists and musicians take more ownership over their work, and initiatives like the Web3-based Mastercard Artists Accelerator program are poised to help them learn how. This first-of-its-kind curriculum will teach both artists and fans how to build (and own) their brand—from minting NFTs on the blockchain to representing themselves in the virtual world.

In all, Web3 promises to revolutionize the way content creators interact with their audiences, monetize their work, and achieve their desired success. “It’s really about being in a space of imagination and innovation,” says Lynn. “What is the world we want to make? And then using these tools to enable that environment.”

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7 Business Strategies From This Year's Create Cultivate 100 Honorees That’ll Help Set You Apart

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The path to success is never linear, and this is especially true for women and femmes in business. Despite the challenges they’ve faced, those honored on this year's Create Cultivate 100 list have achieved remarkable success due to the unique strategies they applied to their business practices.

Ahead, we share some of these approaches that set them apart from the rest and how they apply to entrepreneurs at every stage.

1. Prepare to pivot

Beauty nominee, Amy Liu worked at Smashbox, Kate Somerville, and Josie Maran Cosmetics before striking out on her own to start the award-winning makeup brand Tower 28, which she launched at age 40. Even though it took her 18 years to finally say yes to becoming an entrepreneur—she’d thought about it since she was 28—Liu says she never counted herself (or a career change) out. "Part of manifestation," she says, "is just putting your dream out there."

2. Build intentional partnerships

Climate honoree and sustainability activist Jhánneu Roberts is an expert at this. Roberts partners with like-minded brands, like Bank of the West and Grove Collaborative, that further empower her community to live a sustainable life. When sharing advice for up and coming activists and sustainability creators she says, “It’s not just about reducing waste, it’s also about sustaining yourself.” Later this year, Jhánneu plans to launch a course focused on teaching other creators how to work with brands so that they can continue to build their own businesses, sustainably.

3. Follow your intuition

Content Creator honoree Achieng Agutu, also known as the Tantalizing Confidence Queen, has built an incredible community founded on fearlessness. When it comes to making important decisions, she encourages her followers to look within. "When something is for you, it should feel effortless and there should be no overthinking," she says. “If I don't feel a sense of freedom, a sense of happiness, if the energy is not reciprocated, if there is no sense of I see you and I want the best for you then I am out."

4. See every opportunity as a learning opportunity

Pinky Cole, Food and Beverage honoree and founder of Slutty Vegan, a plant-based burger chai based n in Atlanta valued at $100 million, has 20 new locations set to open after a successful Series A funding round. She acknowledges that expanding requires acknowledging what you don't know, being willing to learn, and not getting comfortable with what you do know. Second only to that, she says, is learning that you will lose people who are valuable to you and the business. But, the most important part is having the emotional maturity to move forward without letting it get in the way of your success. 

5. Use representation to tap potential

Finance honoree Simran Kaur, founder of Girls That Invest, aims to make investing more inclusive, starting from an early age. “You cannot become what you cannot see, she says. "More women talking about money or investing is going to encourage more women to come into the door. It feels less intimidating when you know people who look like you and can break down the jargon in ways you understand—without being patronizing. It's about using language and a female-lens that makes it just a wee bit more fun and engaging.”

6. Nurture your interests

Arts and Culture honoree and founder of Utendahl Creative, Madison Utendahl, has been on the founding teams of cultural phenomenons like Last Week Tonight with John Oliver, Refinery 29's 29Rooms and the Museum of Ice Cream. She believes in letting what you love lead you to your true north. “The journey to happiness is lifelong and well worth it,” she says. “I hope all women, especially those in creative spaces, know that they are worth their wildest dreams.”

7. Never stop testing new ideas

As the founder of Poppi, Food and Beverage honoree Allison Ellsworth wants to inspire others to bring out their inner disruptive entrepreneur—and not be afraid to try new things. Case in point: Ellsworth's first foray into TikTok a personal story about why she started her brand after not being able to find gut-friendly beverages, garnered 50 million views and $100K sales. This led to Poppi being the number-one searched beverage on Amazon, free endorsements from celebrity fans like Kendall Jenner and Drew Barrymore, and being named BevNet’s Marketing Campaign of the year. All of which taught Ellsworth a valuable lesson: Never let the fear of trying something new decide your future.

Tune in to this week'e episode of WorkParty where Jaclyn Johnson looks to these inspiring founders to answer some of your most-asked questions about owning and running a business.

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Hesitant to Bootstrap? Here's One Founder-Approved Strategy to Make It Happen

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Jordan Harper, CEO of Barefaced, launched her clinical-grade skin-care brand with no business background, no investors, and no savings to fall back on. However as a nurse practitioner with nearly a decade of experience in aesthetic medicine, Harper had a solid understanding of the products she wanted to create, and a strong demand from her audience.

With a strategic pre-launch plan and determination to fill a gap in the skin-care market, Harper brought her product line to life without any support from outside investors or accruing personal debt.

Bootstrapping, a business funding approach for entrepreneurs who don't want to rely on external sources of capital, is the option most small businesses (aka companies with fewer than 500 employees, which is 99.9 percent of all businesses in the U.S.) use to establish their companies. According to a recent survey of startups, 78 percent of small business owners self-funded their launches.

To pay for product manufacturing deposits, Harper took out several zero-percent-interest credit cards This may seem like a risky move, but it allowed her to maintain complete control over the business, without pressure to quickly scale and generate massive returns for investors.

Once production was in motion, Harper relied on the power of pre-orders to keep the business in motion. Thanks to her loyal Instagram following and patients' feedback, she was right about the strong demand for products. Pre-orders raised enough funds to match her manufacturing costs, and paid for even more goods to go into production. Harper ended up offering four rounds of pre-orders, which she reinvested into growth strategies for the business.

On a recent episode of WorkParty, Harper backed her approach as a simple and achievable tactic for any new business owner. The key is to have a solid understanding of your products, build a strong audience base, and educate.

Tune into Jordan Harper's episode of WorkParty where Jaclyn Johnson learns more about her career transition from nurse practitioner to entrepreneur, Barefaced’s unique take on customer engagement, and tactics for maximizing efficiency.

Your Most-Pressing Questions for Tinx, Answered

You know it’s a good coversation when you run out of time talking with someone before you run out of topics to discuss, which is what happened when we sat down with Tinx for the keynote of our Future Summit in Austin over the weekend.

One of the most-popular influencers and content creators on social media today, Tinx has built a tight-knit community across multiple platforms, including Instagram (512K followers), and TikTok (1.5M followers). Recently, she’s added another title to her multi-hyphenate bio—author. Her first book, The Shift, a collection of all her best advice on embodying main character energy in your own life, drops in May, but you don’t have to wait that long for new nuggets of wisdom from her.

Below, Tinx sounds off on some of the questions she wasn’t able to answer on stage in Austin.

What’s the next big tech/social platform we’re going to all be using?

It’s so hard to predict. Look at TikTok… It was around for a while and then all of a sudden it exploded. I will say, I think that Pinterest is having a little bit of a resurgence, or rather it never went away. It’s such a stable platform.

In terms of content planning, do you typically plan your content out in advance, or do you go off the cuff? What would you advise for new creators looking to grow their engagement?

I love being off the cuff with my followers. My community has come to know me for my spur-of-the-moment hot takes, and they also like to know what I’m up to in the day. I wish I could say I planned it out, but it’s very in the moment!

How did you figure out the best rates to offer to brand partners, especially when starting out?

They say hire for your weaknesses and sadly, I’m not a very good negotiator. Luckily I started working with the manager quite early on, Seth Jacobs, and he helped form a strategy for rates and packages. It’s been so helpful to have a team that I trust.

I’m having trouble translating my brand from my blog and Instagram to TikTok, what is your advice?

I think it’s important to keep in mind that people go to different platforms for different types of entertainment or education. Think about how you use each of the platforms. For me, I’m on Instagram all the time looking at stories in between meetings and what not. Whereas with TikTok, I usually go on at the end of the day to relax, watch for a while, and laugh!

What’s the best way to get eyeballs on my content? I’ve been in the game for a bit but I’m not yet getting as much traction as I want.

Consistency, consistency, consistency. I know it can be so tiring, but keeping your content consistent is so important. Ultimately, it’s a numbers game, and you have to play the algorithm to win. I also think cross promoting on different platforms can help!

How do different generations (millennials/Gen Z) react to your content? Do they want different things?

They absolutely want different things. Sometimes I’ll make a piece of content with my millennial friends in mind, but I also speak a lot to the younger generation because that’s what I’m passionate about. My goal in life is to empower young women to know their worth, so sometimes I try to put myself in my 19-year-old self’s shoes to give the best advice.

What will be in your book that you haven’t already shared?

So many personal anecdotes and stories that I wanted to save for this exact moment. I also expand on a lot of my theories and share some new ones that I’ve been saving up. It’s the most intimate piece of work that I’ve ever made and I can’t wait to share it with the world.

What is your favorite topic to talk about with your audience? What does your audience like most?

I feel lucky that my audience likes to discuss a range of topics with me. Whether it’s pop culture or dating advice or fashion, they really go there with me and it’s so wonderful because that’s what life is. A little bit of everything. My favorite is probably tricks and tips though. I love getting a great life hack from a follower or sharing one of mine with everyone and then seeing them use it in their everyday lives. That’s what it’s all about!

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How To Find a Niche in a Crowded Market With Dr. Roshini Raj, Founder of TULA Skincare

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In a world where there seems to be a new skin-care brand launching every week (there are approximately 4,200 cosmetic and beauty companies in the U.S. alone), it can be difficult to stand out. Yet, by following her gut, literally, Roshini Raj, MD, founder of TULA Skincare, managed to break through.

Before beginning TULA, Dr. Raj started her career as a gastroenterologist, a physician dedicated to the digestive system, and it was her passion for probiotics and the microbiome that led her to explore the connection between gut and skin health. While studying the evolution of research in her field, Dr. Raj noticed that her patients who were taking probiotics not only found improvements in their digestion, but also in their skin.

At the time she launched TULA in 2014 with formulas that utilized probiotics to help balance the skin's microbiome and promote a healthy skin barrier using, no one was talking about the connection between gut health and the skin, and research was limited. So Dr. Raj felt she’d found a niche within her wheelhouse that would allow her to align her expertise with potential whitespace. And her bet paid off big time because the global probiotics market, valued at $50.6B in 2020, is now expected to grow at a rate of 7.9 percent from 2021 to 2028.

So how can others find a niche in a crowded market like skin care? On the most recent episode of WorkParty, Dr. Raj advises taking a step back and examining what sets you apart.

"You have to really think about what you want to bring to the table that's different,” she says. “What are you uniquely qualified to do? For me, it was my medical background and my passion for probiotics and the microbiome.”

Dr. Raj also emphasizes the importance of understanding your target market. "You have to know your audience,” she says. “What do they want? What are they missing? What are they looking for that they can't find? That's really how you can start to carve out a niche."

Tune in to this week's episode of WorkParty to learn more about Dr. Raj's probiotic product formulation process, TULA's mission to inspire confidence, and the ways in which gut health impacts our overall well-being. 

‘I Run a Web3 Agency—Here Are the Basics To Get Ahead of New Tech'

The rapidly changing digital landscape is not only transforming the way we live, but also redefining how small businesses operate. Web3, a decentralized internet powered by blockchain technology, has the capability to reshape industries and provide new opportunities for growth and innovation—this is espcecially true when it comes to the potential value of Web3 for SBOs.

So, at our Future Summit Conference this past weekend, we spoke with Victoria Mariscal of Maris Consulting to help us explore the world of Web3 for SBOs and how this new technology can impact small businesses, advertising, and marketing strategies. 

From the benefits of decentralized autonomous organizations (DAOs) to the evolving role of NFTs, here, she lays out everything anyone looking to understand and harness the power of Web3 for the betterment of their businesses should know.

Tell us about how you came to Web3?

Right before the pandemic hit, I had this awesome opportunity to work with a beauty startup in LA and then, unfortunately, got laid off. So that forced me to reevaluate everything that I thought I knew because I thought getting the right job, going to school, and climbing the corporate ladder would be it for me. 

What I realized was 1. technology was changing very quickly, and 2. I knew I had soft skills that were applicable, but I didn't want to be a coder. So I was like, where do I fit into the next wave of technology, and how can I apply my business acumen to that? I started an LLC as a side hustle. And then, last year, I took the leap and bought a ticket to go to a crypto conference, but I had no idea what I was getting into.

I was like, I'm just coming here to learn, and I ended up meeting the most amazing people I'm still friends with to this day. I met my business partner there and realized that Web3 just has this whole other side and really just contains how business will be conducted in the next five to 10 years. We're looking at a new wave of technology, and it's not as scary as we think.

How does Web3 technology actually change the advertising landscape as we know it today?

A lot of people have been struggling in the past year to make Facebook ads as successful as they were maybe two years ago. There's a reason why: The algorithm change has a lot more policy control, and many more privacy laws have been enacted. What happened was corporations owned your data and sold it to brands who now have access to personally tailor what you wanted to buy. 

Web3 changes that where it gives ownership back to you, the user, meaning that there are more secure transactions and there are more fundamentally ethical ways to conduct business because everything is transparent and set on what's called a blockchain, which is essentially a public ledger in which every purchase that you make of that item is publicly documented.

There are a lot of buzzwords, but take DAOs, for example. If you've never heard of a DAO, it's a decentralized autonomous organization. Essentially a DAO is a way in Web3 where instead of having a corporate structure, people within the corporation have more voting rights to the decisions the company makes.

Take Create & Cultivate. In the future, there’s a possibility that if you go to every single one of their events, if you are constantly supporting the brand, and in theory, Create & Cultivate was a DAO,  you would have more say over maybe where they hosted the events, what the speaking topics were, what kind of small vendors they would host, what kind of events like parties they would throw. You're a part of the organization, and your involvement allows you to have more say in the brand's decisions.

What are the benefits of Web3 for SBOs, and how can they leverage this technology to attract new customers?

I would say one of the biggest parts of Web3‘s ethos is community. If you've heard of a Discord community, any conferences, or anything you would attend in the Web3 space, it is founded on community. So when you think about being in a small business, you serve your community.

Now, you're going to just look at how can I serve my community digitally, and how can I increase my reach. There's such a bad rap around NFTs, but an NFT is just a digital product, and it provides access to your community to have more say and also give you their input about what they want to buy from you.

What key factors should small businesses consider when building in the Web3 space? 

When we talk about building your brand, why do you go to your neighborhood coffee shop over Starbucks? Why do you shop at a certain store over another store? When we talk about being a small business in this space, it's very difficult. You don't have the budgets of the big advertising firms to lend you their names. But what you do have is the power of your people, who absolutely love your product, and they will rave about it no matter where they are because they know you, trust you, and only buy from you. 

The key to building your brand as a small business is focusing on listening to what your true fans want and by creating a safe space for your consumer to come in and converse with you. I always tell my startup founders, it starts with your brand, it starts with your personal brand because people don't just buy from a company, they buy from the founder. The same thing is possible in the Web3 space, just move that conversation online and create ways to gatekeep and reward your true fans for participating in supporting your business. 

What I love about that, it's almost like a stickiness that's created with your, with the brand. So there's, there's much more of an emotional connection.

What does this community first tactic mean for marketing strategies we’ve become accustomed to, such as paid ads?

I would say that part of that is really coming from Gen Z and the way that they make their purchases; they would rather buy something that their friends says is really awesome than buy something that they're seeing in an ad—and that's because of trust.

The consumer is looking for a brand they can trust to make the right decisions, especially during the pandemic. When we were really looking at the actions of a lot of big corporations and seeing them fail us time and time again. We're not looking at small businesses and going like, ‘Hey, I love what you're what you stand for as a founder, and I want to support you,” and I think that's really, really the key to anything. 

When we talk about advertising, we're seeing more of a creator economy blossom where Instagrammers that have a giant reach are now creating their own brands. And it's because people would rather buy from their favorite Instagrammers or TikTok stars than buy from a big corporation. That's just the bottom line because they feel like they know them; you see them every day and their storiesl you see their ups and downs and this feeling of vulnerability, sharing about mental health struggles, self-care. These trends show a vulnerable side to business owners that we've never seen before.

How can small businesses actually afford to play in Web3?

Web3 is evolving daily. It starts off with the technology piece, and then it becomes more intuitive to onboard more people. So, for example, maybe two years ago, if you wanted to buy an NFT, you would have to connect your wallet to transfer funds. Figure out your 12 secret word phrase that if you lose it, you're doomed forever, and you will never have access to your wallet again.

Now, it's not like that. One thing that's amazing is that there are new products coming out every day that are no-code solutions to build on Web3, meaning that now you can build an NFT without needing to be a coder. I say that because one of my clients is actually building that right now, and they just went into a beta phase. If you want to check out Spark, they also have a really awesome thing, and their goal is to market NFTs for marketers where, as your consumer purchases more, the NFT becomes dynamic and involved so kind of like levels up, kind of like a game and then you can track their behavior, so track what they're doing in the space to level that up.

So there's more tools coming out every day that are going to really lend a hand to small business owners and make it more attainable to integrate the technology into their everyday lives.

How close are we to widespread public adoption?

It needs to be easy for the public to use and integrate with your Apple wallet, you know, having your email as an access code will make that easier, and that's coming very soon.

I think the other piece is consumers understanding how to lend their data to these brands is also going to be very critical. Encouraging customers to join the communities of brands businesses that they really care about.

For example, Starbucks, Starbucks launched an NFT program, but they don't call them NFTs, they call them digital collectibles. And they game off participation in this digital journey to where they're able to get insights from customers. So, you play a game and say, which kind of roast are you: blonde, medium, or dark? Based on your choice, you're participating, you're earning and evolving your NFT, but in addition, now they know that you like dark roast.

Now, they can tailor more activities to your behavior patterns and then also sell you a product that way. So it's more encouraging the marketing landscape to change and evolve with the technology. I think small business owners can really leverage that to their advantage.

Amy Liu on Leading a Brand Through Uncertain Economic Climates

Beauty industry vet Amy Liu has steered her company, Tower 28, through turbulent periods not once, but twice since she started the brand five years ago—first the pandemic in 2020, and then the inflation crisis in 2022.

Now, she, like everyone else, is figuring out how to navigate the impending recession financial analysts predict is likely to transpire in 2023. Below, Liu lets us in on her leadership style and how it helps her manage hard times as an entrepreneur.

You started your brand in 2019 and then the pandemic hit and everyone forecasted a huge economic downturn. What was your experience launching Tower 28, navigating through those tumultuous times, and creating buzz so that the brand would really grow and thrive? 

In 2019 when I was launching the brand, I was probably thinking less about the economic downturn and more about the fact that I was entering an incredibly crowded marketplace as someone with zero influence. And so the way that I think about product development—and this continues to be kind of the guiding light of the brand today—is I really do think about it in the sense of how can I add the most value for the customer? I just really believe in investing in consumer trust.

I tend to think people aren't gonna buy something because of me—I'm forward facing in a business sense, but I'm not really in a consumer sense—and so no one is looking at me do my makeup and saying, “Oh, I wish my makeup looked like, Amy's.” That's not really what's happening. So then I have to rely on the other things that I'm able to offer, which is that we have really great product quality.

People really want to be seen and heard, and if you can offer them a solution for a problem that they're genuinely having and give them a really great product, I think that's where you get product market fit.

At what point in your business's growth did you add employees? How did you do that with the economic landscape looking cloudy? How do you continue to grow the brand today with the same "uncertainty"?

I started Tower 28 with money I raised from friends and family. And I was really lucky because very shortly after, I met two girls who started as my interns, and they're still with me, which is something that I am really proud of because it's been five years, and they're great.

But essentially, my philosophy around hiring is twofold: I've hired young people that I think are smart and capable and I can train and that can execute. And then I've hired people who are more seasoned, so people at the VP level, and work in the areas that I know really nothing about, like, say, operations. And so I'm gonna hire someone who knows a lot about it and can basically take that off my plate because she's way better at it than I am.

Then the other things I can hire in a more of a fractional way—I'm able to tap into people who are more expensive on a hourly retainer, weekly level. Like, we've had a fractional, basically VP of finance for almost five years; he's been with me from the very beginning. That way, I still have the right talent in the room, and it also gives me the opportunity to almost, you know, lease before you buy.

In your previous career at big brands and now as the founder of T28, how did you successfully lead a team through times like these? What's the roadmap you'd give to other founders?

This actually is advice that I, frankly, heard from a parenting influencer @drbeckyatgoodinside, and listen, I love her. She has this analogy that she talks about and she, and I've said this to my team She basically talks about how if you can have three different versions of a pilot, which one do you want? Do you want the pilot that experiences turbulence and gets on and says there's no turbulence; what you're feeling is not turbulence. You wouldn't like that, right? Because you'd be like, wait, WTF? I feel turbulence. Are you calling me crazy?

The second one is if you're like, “Oh, we're going through turbulance, and I don't know what's happening.” That's terrible too. But the third option is the one that everybody, someone who’s like, “Guys, we're headed through a little bit of turbulence. This isn’t anything that I haven't seen before, and it's gonna be hard for a minute, but we're gonna get through it, and we're gonna be okay.”

So I guess the point to me is, that the worst thing to do is to fake it and to be like, “Oh, this isn't crazy. This isn't terrible and weird and we're not all feeling this.” I mean I think that's tone deaf to be honest with you, and it doesn't feel relatable.

In the past I've been at jobs where you would see these like suits come in and they would go into the little room and you're like, what's happening? And you're like, are we gonna get sold? Are we gonna get it acquired? Like what's happening? I'm really honest with my team, and like I date a lot of investors and I'm like, I don't know if we're gonna raise money or not. If we need to, we will. Like, I don't really think I want to right now, but in general, whether it's the economic downturn or not, I think it's just being honest with people, frankly.

Have you ever had to make difficult decisions such as layoffs during a recession? How did you approach these decisions?

I mean, yes, and the people ones are the ones that keep me up the most at night. All you can do is give yourself the best information, but then trust your gut ultimately to make the right choice.

What do you believe are the most important qualities for a leader to possess during an economic downturn?

During uncertain times, it's so important to maintain transparency, project a sense of calm, and practice empathy.

How do you communicate effectively with stakeholders and maintain their trust during times of uncertainty?

It always comes back to transparency. Trust is built over time, but it erodes in a flash. If you are honest and balanced about sharing both the good and the bad, you build trust with your stakeholders. It's equally important to build confidence, so people feel good about going on the journey with you.

During an economic downturn, so much of the focus tends to be on the core business and keeping it stable. How do you continue to innovate to ensure your brand is growing? How would you suggest others do the same?

Focusing on what we are good at and why people love our products in the first place is always what keeps us growing.

What to Expect at Future Summit: Austin

WHEN
Saturday, March 11
11 AM - 5 PM
Doors open at 11 AM

WHERE
South Congress Hotel
1603 S Congress Ave, Austin, TX 78704
Get Directions

Details

Registration: Guests will be admitted on a first-come-first-served basis, and space is limited. If we are at our max capacity, guests will queue to wait for another guest to leave the event before they'll be permitted to enter. Be sure to come early to claim your spot! For full FAQs, please read here.

Schedule: Some sessions do overlap. Take a moment to map out your day.

Future-Forward Conversations

Keynote Conversation with Tinx: How the creator, author, and host of It's Me, Tinx, stays on the cutting-edge of trends and her take on what's next.

Fireside Chat With Victoria Mariscal, Presented by Mastercard: The CEO of Maris Consulting shares how you can benefit from the latest technologies (like NFTs!) to acquire new customers, engage with your audience, and create a tight-knit community.

Web 3.0 and Beyond: What Every Entrepreneur Should Know:  A panel of leading women in the tech space breaks down Web 3.0 and shares how small business owners and entrepreneurs can reimagine their digital footprints.

The Realities of a Recession From Women at the Top: A panel of founders and CEOs talks about how they’ve pivoted given the looming recession and navigate tumultuous times with technology.

Mentor Sessions

AI and Data Science with Lydia Simmons: The founder of M.O.O. and Motherocity expands on her expertise in AI and Data Science and shares how to use the technologies to grow your business.

Accessing Capital with Natalie Colfield: Uncover the different ways you can fund your operation and what is needed to get started straight from Mastercard's Senior Advisor.

Everything Solopreneurs Need to Know with Jamie Hess: From security considerations to how to book work consistently, the Wellness Mentor & Creator of NYCfitfam is here to advise all solopreneurs on their biggest concerns.

Mindfulness and Innovation with Natalie Kuhn: Moments of inspiration rarely strike while staring at a screen. In this session, the co-CEO of The Class will teach you how to use analog mindfulness to unblock your best business ideas.

Interactive Experiences

Mastercard Marketplace: Shop Texas-based small businesses IRL! Attendees will receive an exclusive code from each business to shop, share, and support following the event.

Las Ofrendas

3rd Eye View Eyewear

Amanda Deer Jewelry

Mastercard Small Business City: Grab a VR headset and be transported into Mastercard’s Small Business City. Explore the world, connect with featured small businesses, and more.

Origin Oasis: Share your origin story with Origin Water's artist-in-residence to receive a custom designed notebook.

Food & Beverage

Possible Smoothie Bar: Stay fueled all day long with Possible's custom Future Summit smoothies, featuring the brand's Super Greens and plant-based Vanilla Protein.

Lunch and Snacks: Enjoy an assortment of Beef Barbacoa, Pork Carnitas, and Fajita Veggies in The Eatery. After lunch, a spread of veggies and dips will be available for snacking.*

Beverages: Stay hydrated throughout the day at the Origin Water Bar. Then, enjoy a cocktail or mocktail during happy hour while you catch up with fellow attendees. All drinks are made with flavored Origin Sparkling Water.

ANY ALLERGIES OR DIETARY RESTRICTIONS? 

We recommend that you BYO lunch and snacks to the summit. We try our best to accommodate attendees with allergies and/or dietary restrictions, but it’s best to provide your own.

*Food in The Eatery will be available on a first-come-first-served basis.

Other Need-To-Knows

There are no charging stations on-site, so please come prepared with a fully charged phone or a charger with extra juice to be set up for success all day.  

Parents’ Room

We have a dedicated parents’ room for breastfeeding, pumping, and feeding. 

Need Further Help? 

If you need assistance, we’re happy to help. Please email hello@createcultivate.com ahead of the event with any needs that you have on-site so we can assist with any additional accomodations before the event.

More Questions?

Please visit our FAQs page for more information about the event.

Stay Connected

Follow along at @createcultivate and use the hashtag #ccfuturesummit to share your highlights from the day!

Why Web3 Matters for Small Businesses

In today's digital age, having a strong online presence is crucial for any small business looking to grow and thrive. But with the emergence of Web3 technologies, the game is changing yet again.

Ahead of Future Summit: Austin on March 11, we tapped artificial intelligence research laboratory Open AI's disruptive new offering ChatGPT, an AI-powered text generator bot. We asked it to explain why a Web3 strategy matters for small businesses and what steps you can take to stay ahead of the curve. Here are the results.

What is Web3?

The next evolution of the internet, Web3 aims to decentralize power and create a more transparent, secure, and user-centric online experience. It’s a way for computers to talk to each other and do things together. It allows people to create new kinds of websites and apps that can't be changed or controlled by any one person. It also helps people send money and store information securely.

To achieve this goal, it utilizes technologies such as blockchain databases that allow digital information to be recorded and shared transparently without being edited, smart contracts (computer programs stored on blockchains that automatically run or execute when certain agreed upon terms are met), and decentralized applications (dApps) that run on a blockchain network of computers instead of being dependent on a single machine.

4 benefits of using Web3 for small business

1. Trust and transparency

Web3 technologies provide a high level of confidence and clarity about what’s being shared that can help small businesses build credibility and reputation. For example, blockchain technology can be used to create a tamper-proof record of transactions and user data, which can help build trust with customers and partners.

2. Access to global markets

Web3 technologies can provide small businesses with access to potential revenue streams that were previously untapped and out of reach. By leveraging decentralized platforms and protocols, small businesses can connect with customers and partners from all over the world without the need for intermediaries or costly infrastructure.

3. Cost savings

Web3 technologies can help small businesses save on transaction costs and other expenses. By eliminating intermediaries, decentralized platforms can reduce transaction fees, while smart contracts can automate processes and reduce overhead.

4. Innovation and agility

Web3 technologies can enable small businesses to adapt faster to changing market conditions. By leveraging decentralized platforms and dApps, small businesses can experiment with new business models and processes, and quickly pivot based on customer feedback and market demand.

Steps to develop a Web3 strategy for small businesses

1. Educate yourself

Start by learning about the various Web3 technologies and how they can be applied to your business. To get started, check out the conversations we had with four founders who are shining a light on the innovations females are making in the metaverse and Web3.

2. Identify opportunities

Look for chances to leverage Web3 technologies to improve your business. For example, you could explore blockchain-based supply chain solutions or use a decentralized platform to raise capital.

3. Experiment and test

Start experimenting with Web3 technologies to see what works for your business. Try out different dApps, experiment with smart contracts, and explore decentralized platforms.

4. Partner with experts

To help you develop and execute your strategy, look for consultants, developers, and other professionals who have experience working with Web3 technologies and can help you navigate this new terrain.

By leveraging the trust, transparency, and innovation that Web3 technologies provide, small businesses can gain a competitive advantage and position themselves for long-term success. If you're a small business owner, now is the time to start exploring Web3 and developing a strategy that works for your business.

There Are 4 Money Personalities—Here’s What Yours Says About You

Money is a complex and emotional topic that can raise a whole slew of feelings—happiness, stress, guilt, joy—especially for entrepreneurs who continuously navigate financial decisions. But more often than not, these feelings about money rarely have anything to do with your current circumstances. Chances are, they stem from childhood and the relationship you witnessed your primary caregivers have with money.

On this week’s episode of WorkParty, Jacqueline ‘Jack’ Howard, Senior Director of Financial Health & Wellness at Ally Financial, joined Jaclyn to explain how our past experiences inform our money story, a story that’s been written, whether we realize it or not, and affects our financial beliefs and behaviors as we get older.

According to Howard, the first step to uncovering your money story is understanding that people aren’t inherently good or bad with money. Instead, she poses the question: What happened to make you feel this way about money? “[It’s] so much bigger than a credit score or even a budget,” she says. “Ask yourself, why are you spending money? Why are you not spending money? When you start to unpack those issues, you really begin to understand the whys.” 

The next step is creating a timeline of influential financial moments. List out milestones you’ve had with money in chronological order. From there, identify emotions that connect to each moment, then write down the messages that are reflected in these events.

Did the adults in your life avoid openly discussing money? Did your family practice extreme frugality? Perhaps a life event led to struggles with finances. Howard shared that her timeline includes happy memories of going to the credit union to pull out spending money with her mom and brother, getting a job in high school to support her family after the passing of her mom, and later, surviving breast cancer.  These events have influenced Howard to spend more money on experiences, because we only get to live one life.

Next, identify your money personality. Each personality has its own set of challenges when it comes to managing money:

  • Money Worship is when someone has the belief that money, or the things that money can buy, can solve their problems. 


  • Money Avoidance is seen when a person believes money is inherently bad and the desire for wealth is negative. Avoidance also includes those who feel overwhelmed or anxious about their finances, and as a result, ignore them. 


  • Money Status includes those who believe their self-worth is tied to their net worth. 


  • Money Vigilance consists of those who worry excessively about money. They may be hesitant to spend, even on necessary items, for fear of running out of money or falling into debt.


Coupling your money story with your money personality, creates a tool that can be used to help identify what drives you to achieve your goals. As a self-identified Money Worshipper, Howard has found success in automating financial responsibilities, so she knows exactly how much is available to invest in expenses that would otherwise make her feel guilty. (Like a new pair of sunglasses to go with her new haircut).

The way Howard sees it, once you've connected the dots, it becomes easier and easier to develop guardrails that allow for more flexibility around spending. “When you take financial trauma, money psychology, and a person’s money personality into account, it shifts the conversation from one of shame for being bad with money to a feeling of empowerment because you understand the root cause," she says.

Tune into this week's episode of WorkParty to learn more about taking charge of your money journey.

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Pinky Cole on the Keys To Expanding Your Brand Rapidly—Without Losing Its Identity

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Pinky Cole is an unstoppable force in the food industry. Since launching Slutty Vegan, a plant-based fast-food restaurant chain, in 2018, she’s been on a mission to make vegan food more accessible, affordable, and approachable. Already one of the foremost restaurateurs in the South, the Atlanta-based entrepreneur now has her eyes set on expansion outside the region.

Her passion to create a vegan restaurant that was not just for vegans, but for everyone who wanted a delicious, plant-based meal has paid off. Slutty Vegan is currently valued at $100 million, and Cole is opening 20 more locations after a successful Series A funding round.

The chain has become so popular that Cole was recently featured on the cover of Forbes magazine and included in the Create Cultivate 100 List for 2023. Below, she shares how she’s managed to grow her business so fast, without watering down what Slutty Vegan is at its core: a vegan restaurant that’s not just for vegans, but for everyone who wants a delicious, plant-based meal. Plus, her go-to SV order, and the best advice she has for entrepreneurs looking to scale multiple projects at once.

If feels like Slutty Vegan isn’t just hitting its stride—it’s full on sprinting—when it comes to scaling the business. How are you maintaining your brand identity in the face of such fast-pace growth?

I don't do anything without having fun. I’m very intentional about doing the things that I want to do. No one can force or persuade me to do anything that makes me uncomfortable. I must feel it within my spirit. It must be fun for me. Being able to scale this business is fun, but work. I’m passionate about what I want to do and must always remain consistent in my movements. 

Our community includes women at different entrepreneurial stages with various interests. Can you share your best advice on growing multiple projects linearly and outwardly at the same time?

Teams are the most important thing when growing businesses. You must have the right aces in places. I didn't always have that. I realized that you must have people that get it, have the experience and expertise, and the level of consistency. That's how I’m able to grow. I’m using my mind to diversify the businesses, but the people in those spaces run the company, and I oversee them. 

What is your go to Slutty Vegan order? 

Sloppy Toppy with jalapenos and pickles

You just hosted a wedding at your restaurant and officiated it! What inspired you to do this?

I thought, how cool would it be to have a wedding at an iconic location, a world-famous restaurant? We were lucky to find two amazing people who wanted to get married at our store, a landmark in Atlanta. We invited the world to participate via Instagram. I’m happy because it will forever go down in history. They made history and didn't realize it. What a dope way to market the brand. 

What people may or may not realize about you is that, in addition to being a restaurateur, you’re also a passionate advocate for social justice through the Pinky Cole Foundation. Can you tell us more about your work there?

I started the Pinky Cole Foundation in 2019. It was a way for me to bridge the generational wealth gap. I like to help people. It's not just community service; I like to see other people win. So building the foundation was the formal way to do that. We’ve done a lot since launching—we've given money, donated fruits and vegetables to those in need, given salaries, purchased cars, given students LLCs, and so on. That is what is most rewarding to me. The restaurant is fun, and seeing people happy is fun. What gets me going is knowing that people can execute their dreams and win by way of the foundation.

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Amy Liu Shares Her Playbook for Using What You Learn as an Employee To Become an Entrepreneur

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Even though Amy Liu was co-president of the Entrepreneurship Venture Management Association in business school, she wasn't totally convinced her post-grad career plans would include adding "founder" to her CV. "I've had a really linear path," says Liu. "I went to business school, I worked in the beauty industry, and I worked my way up. I just kept telling myself I'm going to learn on someone else's dime, and I'm going to get really good."

And that she did. Liu's time as a marketing executive for beauty brands like Smashbox and Kate Somerville built up the knowledge and experience she needed to finally launch her own beloved makeup brand, Tower 28, and helped make the learning curve of going from an employee to an entrepreneur less steep for her.

Having always felt that founders were typically authorities in their field—professional makeup artists or skincare experts, Liu initially didn’t believe she belonged in the same cohort of women who were building disruptive beauty brands, seemingly singlehandedly, because her experience was in working for others. Not to mention, she had kids and a mortgage to think about, which made the decision to start a business even scarier.

But after a meeting with a friend from business school 15 years into her career, Liu finally was convinced that her experience in the corporate world would be instrumental in preparing her for entrepreneurship. "I gained a lot of skills in terms of understanding what it's like to be an employee," she said on this week's episode of WorkParty. This epiphany led to a core lesson in Liu's playbook: Never underestimate the power of experience—no matter the industry.

Liu suggests taking stock of your background and identifying transferable skills that will be valuable in your new venture. If you work in marketing, you likely have know-how in branding, advertising, and customer acquisition. As an employee you likely built up a network of contacts in your industry. These contacts can be valuable resources when starting your own business. (Liu's co-president from the aforementioned Entrepreneurship Venture Management Association was Tower 28's very first investor!)

Liu also emphasizes the importance of being adaptable and willing to learn. As an employee, you likely had a set of defined responsibilities and tasks. As an entrepreneur, you will need to be comfortable with uncertainty and change, try new approaches, and pivot when necessary. In fact, the most successful entrepreneurs tend to be middle-aged, according to a study of 2.7 million startups.

On this week's episode of WorkParty, Liu, who's also an honoree on this year's Create Cultivate 100 List, joins Jaclyn to share everything from her favorite hiring tips to what she learned while formulating Tower 28’s first product. Plus, we get into the business details like her tech stack, scheduling strategies, and go-to personal development tools. 

RESOURCES

OTHER EPISODES YOU MAY LIKE . . .

Mailbag: Entrepreneur Hot Takes With Jaclyn Johnson

How To Craft a Profitable Pitch With Paulana Lamonier, Founder of Black People Will Swim

What Comes After Hustle Culture With Sinikiwe Dhliwayp, Founder of Naaya

The 5-Word Prompt That Will Help You Launch a Business

Closing the Pregnancy Skin-Care Gap With Mary Lawless Lee

Simran Kaur Teaches a Masterclass on Investing—Here's What She Thinks It’ll Take To Get More Women Trading Stocks

Simran Kaur, who made her first million dollars by age 25, is goals for young girls interested in investing and personal finance. She’s a co-founder of Girls That Invest, a brand that empowers young women to take control of their financial future. Her podcast of the same name ended 2022 in the top one percent of the most-shared shows on Spotify globally.

A strong advocate for financial literacy, Kaur has dedicated her time to educating thousands of young women on how to make smart financial decisions, including speaking at universities and other institutions across the globe.

Through her organization, Kaur’s created a platform to provide education, mentorship, and resources to young women who want to become investment professionals, and she even teaches a six-week masterclass on investing, From A–Z in The Stock Market.

Below, Kaur talks about what she wishes she’d learned about investing when she was growing up, what’s next for Girls That Invest, and which of member of the Kardashian-Jenner fam is her ideal podcast guest.

For people who may not be familiar with your work, can you explain what it is you do through Girls That Invest

I break down the jargon associated with investing—What's a fund, a stock? How do you even get started? It's so rewarding seeing people having that "ah-ha" moment. We've hosted workshops at Shopify, Oracle, Salesforce, and HSBC, as well as in-person events in the UK, U.S., Canada, Australia, and New Zealand.

What made you want to start your business?

Growing up, there was no representation when it came to investing education. I didn't feel like it was something that was for me. When I looked at investors, even a Google search showed men in suits looking across multiple screens. In-person events didn't feel inviting either. I wished there was a space where I could talk about investing that felt welcoming, and thus Girls That Invest was born.

Despite the number of female investors increasing in recent years, women still invest at lower rates than men right now. What do you think it’ll take to get to a point of parity?

I truly think the answer lies in representation. You cannot become what you cannot see. More women talking about money or investing is going to encourage more women to come into the door. It feels less intimidating when you know people who look like you can break down the jargon in ways you understand—without being patronizing. It's about using language and a female-lens that makes it frankly just a wee bit more fun and engaging.

You’ve been asked to speak at the House of Parliament in London on International ‘Women’s Day on March 8. Why are opportunities like this important to you and your overall goals when it comes to achieving more equity in investing?

It's so exciting being able to occupy spaces such as the House of Parliament in the UK, earlier in 2023 I was invited by the High Commission of India to speak about the work of Girls That Invest and the impact we were having. It absolutely ties into our goal of getting into more spaces where women can see people like them talking about money. 

The opportunity to make an impact beyond communities and right into the heart of policy and government is a fantastic place to be, and I'm so excited for what the future holds. Being able to rub shoulders with industry and political leaders wasn't something I imagined our brand to do, but if it helps get the mission across, I'm there!

You host and run the world’s largest investing education podcast for women. Who is a dream podcast guest that you haven’t had on your show yet, but want to interview?

Kris Jenner. No one, and I mean no one, knows more about personal finance than a woman who was able to turn a six-child household that was struggling to pay private school bills into a billion-dollar empire.

1 in 4 Black Employees Report Discrimination at Work, Most Often as Retaliation—Here’s What To Do if It Happens to You

Imagine that you are the only Black woman on your team at work, and that you’ve recently started bringing up concerns about microaggressions—from your supervisor getting your name (and only your name) wrong to more overt forms of bias such as only giving white employees time off. Now, imagine HR’s solution is to tell you, “We are moving you to a team of all women of color due to your difficult relationship with your supervisor.” 

It seems unbelievable, but that’s what happened to me at my last job, and unfortunately, acts of retaliation at work like this are all too common. One in four Black workers report being discriminated against at their place of employment, according to Gallup. Those rates are higher amongst young Black employees, and 75 percent of respondents said race felt like a factor in their experiences.

What’s more, of all the forms discrimination can take, the U.S. Equal Employment Opportunity Commission (EEOC) finds that retaliation at work is the number one type.

Though common, retaliation at work isn’t always easy to prove

When I was told I was being transferred, I felt like I was in a movie, or an early 2000s reality TV show, and Ashton Kutcher was going to pop out at any moment to tell me I was being punk’d. It didn’t feel real, and at times, it still doesn’t.

“More often than not, retaliation is done through actions that aren't formally recorded, like texts, emails, voicemail, etc., or in-person, which can be hard to document” says Sophia Stephens, a paralegal in Washington state who works on employment and labor law-related cases. “There is no cut-and-dry approach to identifying the warning signs [of retaliation], let alone handling them and navigating a full-blown retaliation or discrimination scenario.” 

Retaliation isn’t often one major event, but rather a steady stream of situations that can leave you questioning your sanity. “It’s very typical for there to be dozens of interactions that are of the ‘death by a thousand paper cuts’ variety,” says Stephens. “They're not outright traumatic and terrible, but annoying and inconvenient enough to be bothersome, which causes people to question and wonder if the interaction is enough to raise concern about or if they'd be seen as the issue.”

As a result, she says people frequently come in to seek legal counsel saying that there’s been a history of interactions with the person, but that they didn't document them all because of that self-doubt.

When things started escalating at my office, I spent months going over every comment management made, every act of preferential treatment given to other employees, every time supervisors avoided me in the office, just trying to make sense of what was happening. I felt paranoid, anxious, and confused every day.

What retaliation at work can look like

According to the EEOC, experiencing any of the below behaviors from your boss could be considered retaliation, depending on the facts and circumstances.

1. You’re reprimanded or given a performance review that is lower than it should be.

2. You’re transferred to a less desirable position.

3. You experience verbal or physical abuse from your employer or management.

4. Someone threatens to make, or actually makes, reports to authorities, such as reporting immigration status or contacting the police.

5. You experience increased scrutiny.

6. False rumors are spread about you.

7. Your work is made more difficult.

What to do if you think you’re being retaliated against at work

The repercussions of being isolated my from my department, being moved to a different team, as well as an increased criticism of my work were more than just hating my job. Being retaliated against—and gaslit by being told this was all for my benefit—took an emotional and physical toll: I couldn’t sleep, I had migraines daily, I was always nauseous, I was losing my hair. I became suicidal.

Unfortunately, fear is a powerful motivator for not only remaining hush-hush over an unfair or illegal situation, but ensuring that any accusations stay in the dark, says Stephens, who also notes that the burden of proof in retaliation cases falls on the employee. “As the person accusing, you have to show that your actions led to someone in a position of power unfairly punishing you for them,” she says.

That burden, in my opinion, was too much to bare, because at the end of the day, all that mattered was who had the power and how they chose to wield it. What got me through the experience was trusting my gut and the support of friends who bared witness to the retaliation who were able to keep me grounded.

When I felt that I had exhausted all of my other avenues, I finally consulted a legal representative, which helped affirm my experiences and provide me with options moving forward. “If it comes to this, speaking with a lawyer that specializes in employment/labor law can be very helpful, even if you do not end up starting a case,” Stephens says. “Depending on your state, an experienced attorney can review the facts of your situation with you, let you know where your case stands, and how you can go about pursuing legal consequences.”

While I was eventually let go from the company, I knew that my career aspirations did not end there. I also knew that I had to use my experience to help others who may be going through something similar, and be the resource I wish I would have had.

Written by Dominique Norman

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Despite Higher Rates of Profitability, Diverse Founders Still Don’t Receive Equitable VC Funding—But This Firm is Changing That

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Of the $48 billion in venture capital up for grabs during the third quarter of 2022, Black entrepreneurs only received $187 million (or 0.43 percent) and Latinx, $2.7 billion (or 1.5 percent). Meanwhile women-founded companies were allocated only 1.9 percent of all VC funds last year, down from 2.4 percent in 2021, despite companies with diverse founders making up nearly 20 percent of all employer businesses, according to recent U.S. Census reports.

These are examples of the type of inequity in funding that, last year, made Laurel Mintz want to launch Fabric VC, a venture capital firm that works with underrepresented founders at the earliest stage of starting their companies. The firm focuses on Web3 consumer packaged goods (CPGs), consumerized healthcare and digital health tools, Gen Z and Gen Alpha fintech, plus platforms solving for the future of work.

At its core, though, Mintz says Fabric pairs together diverse founders with the funding they need and deserve—diverse companies are 36-percent more profitable than less diverse ones, according to McKinsey & Company’s The State of Diversity in Global Private Markets: 2022 report. And gender-diverse executive teams are 25-percent more likely to experience above-average profitability.

What’s worse is that whenever there’s a decrease in available venture capital, like during times of economic downturn and recessions, underrepresented founders are affected the most.

“Underrepresented, to me, is a holistic bucket,” Mintz says. “We are fully inclusive: BIPOC, female, and queer founders are all welcome and prioritized. It’s what’s best for the planet, for people, for purpose, and for profit.”

Shifting the venture capitalism landscape

The problem with venture capitalism, Mintz says, is that “it hasn’t really shifted since the beginning of time, and that’s because [people] who have money and power have no incentive to change it—even though we know that if diverse-run companies receive funding, they return at a better rate.”

Mintz is hopeful, though, that group efforts will be the catalyst for a foundational change. She shouts out Jesse Draper at Halogen Ventures and Arlan Hamilton Backstage Capital as two other key figures making funding more inclusive and diverse. “We are saying, what has happened historically cannot be the future of venture—we deserve more,” Mintz adds. “We’re hoping to create a new venture movement, honestly, one that isn’t so pale, male, and stale.”

Producing a pipeline to profitability

In 2009, Mintz founded Elevate My Brand, a digital marketing and events agency that’s worked with 204 diverse-run companies. “From the Elevate My Brand side of the business, we’ve seen how these companies evolve, how they grow from a baby startup to the growth stage, to a successful exit,” says Mintz.

So far, 75 of the companies she’s worked with through Elevate My Brand have gone on to successfully raise capital. “That’s a 37 percent raise rate, which is pretty unreal,” says Mintz. This type of early intervention model could help ensure diverse founders receive access to the resources they need to launch, and successfully scale, their companies at the point where an influx of venture capital could make or break their business plan.

Ultimately, though, Mitz believes it’ll take more than herself and Fabric or even a handful of VC firms focused on the diversification of venture capitalism to really make a difference—real change will require representation on both sides of the table.

“I would love to see more women, people of color, and queer people investing,” says Mintz. “It’s been a very interesting journey to talk with them and see how they invest differently.”

Written by Natalie Arroyo Camacho

14 Checkout Flow Best Practices to Increase Revenue

As a small business owner, you've likely put your heart and soul into creating a fantastic product or service. But all your hard work can go down the drain if your checkout process is longer than the time it took your customer to decide to buy their item. We've all experienced it: a shopping cart that's impossible to find, surprise shipping fees, and a payment page that wants everything short of your social security number, to be entered manually, of course. The checkout process is the last step in a customer's journey and might just make or break your sale

Studies show that 69.57% of people abandon their carts when online shopping, leaving easy to attain revenue on the table. Below you’ll find Shopify’s must-haves for a checkout experience that not only converts, but turns shoppers into satisfied customers. If you're headed to Future Summit: Austin, see how your business’s checkout experience stacks up ahead of our workshop The Expert-Approved Ways To Optimize Your Checkout Flow.

Transparency

  • Display Trust Sharing things like security badges, customer reviews, influencer partnerships, and shipping and return policies may contribute to gaining a new customer’s trust.

  • No Surprise Fees If you can’t avoid shipping costs, ensure the cost is communicated up front, and not on the last step of the checkout page.

  • Ask for the payment information in the last step Customers will feel safer after completing all checkout steps like inputting the correct address and seeing the final cost before sharing their information.

  • Enable Chat Support Answer potential customer's questions quickly so they feel confident making a purchase. 

Efficiency

  • Autofill Information and Expedited 1-Click Checkout Manual entry and multiple steps waste valuable seconds needed to close the sale.

  • Preferred Payment Options Go beyond the major credit and debit cards and consider buy now, pay later services and Apple and Google Pay.

Experience

  • Mobile Friendly It's predicted that 187.5 million people will use their smartphones to shop by 2024. Automatic resizing for the small screen is key.

  • Checkout Progress Bar Set expectations for your customers so they know exactly how much of their time will be dedicated to the process.

  • Provide Multiple Contact Methods Increase customer satisfaction by ensuring they won’t miss any updates on their order.

  • Guest Checkout Accept that not everyone will want to create an account. Don't miss out on these customers.

Marketing Automation

  • Exit-Intent Pop-Ups Track your visitor's mouse movements and a trigger pop-up to appear when they’re about to leave the checkout page.

  • Upsells and Cross-Sells Cross-selling recommends products that complement the items they’re buying. An upsell recommends a higher priced product that's similar to the one in their shopping cart.

  • Thank-You Page Include a survey about their shopping experience or invite your them to follow you on social media.

More Resources

  • Watch: Add to Cart: Strategies to Successfully Scale Your Business In Store and Online

The No. 1 Financial Metric To Look at When You're Ready To Expand, According to Dr. Chaneve Jeanniton, Founder of Epilogic

Epilogic is a brand Chaneve Jeanniton, MD, never intended to create. The oculofacial plastic surgeon says it started as a response to patient requests for simple, effective skin care, which led her to formulate a proprietary line of daily essentials that utilize evidence-based ingredients like vitamin C, retinol, and peptides aplenty.

But the brand, built on science-backed formulas, has quickly become Dr. Jeanniton's passionate side hustle—she also owns the plastic surgery practice Brooklyn Face and Eye in New York City. Even though Epilogic only launched in 2019, Dr Jeanniton, a physician first and foremost, has already reformulated the line to take into account the latest advancements in skin-care technology.

Now, she's navigating a tough decision all new business owners face: how to know when to scale and take your company to the next level.

To Dr. Jeanniton there is one metric that holds the key: margins. "I think margins are always scary," she shares on the latest episode of WorkParty. But, she quickly realized that the ratio of profit to revenue is something to be smart about when determining if it’s the right time to expand or not.

"It’s about creating the best possible product at the margins that will keep your business long-term sustainable, while still delivering on your goals," says Dr. Jeanniton, who raised her prices with the relaunch of her brand. They now reflect the value of the new formulations and allow her to grow the business in a self-sustaining way.

Tune in to this week's episode of WorkParty where Dr. Jeanniton talks about the process of rebranding her line, the benefits of accelerator programs, and her favorite parts of being a business owner.

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How the Beauty Industry is Using Blockchain to Tackle Transparency Issues and Drive Loyalty

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When you hear the term “blockchain,” it’s unlikely that the next words that come to your mind are “lipstick,” “cleanser,” or even something as broad as “cosmetics.”  

Because the beauty industry is fueled mostly by females and the cryptocurrency scene is primarily dominated by a male audience—women make up only 15 percent of Bitcoin traders, according to investment platform eToro—it’s no surprise that blockchain isn’t commonly associated with cosmetics and personal care products.

But blockchains infiltrating the beauty industry would be quite the lucrative move, since the global cosmetics market is projected to reach $758.4 billion by 2025—with male beauty alone set to reach $276.9 billion by 2030.

What do beauty brands stand to gain from using blockchain platforms? Aside from adopting cutting-edge technology to keep up with an ever-evolving innovation landscape, one of the biggests answers is something that the beauty industry has been historically lacking: full transparency. 

Blockchain could help the beauty industry meet consumer demand for supply chain transparency 

We’re seeing a rising number of digitally savvy consumers who are growing increasingly conscious of what exactly they are consuming and demanding more clarity from the beauty industry. A global study done by the Fashion Institute of Technology found that 42 percent of shoppers do not feel companies inform them enough regarding the safety of ingredients while 72 percent would like brands to explain what the ingredients in their products actually do. And more than 60 percent want brands to identify sources for ingredients.

As a decentralized method of storing and transmitting data that individuals or companies can access globally in real time, blockchain allows brands to show consumers exactly what they want to know about the products they are buying. For example, when a brand has a product claim like “100 percent natural,” “cruelty-free,” “organic,” “clinically trialed,” or “sustainably sourced”—each one can be stored on a decentralized ledger—that cannot be tampered with or falsified—to provide a consumer with its dated accreditation or certification to justify the claim. 

This is exactly how Cult Beauty, a global online cosmetics retailer headquartered in London, began using blockchain—they worked with Provenance, a software developer specializing in designing applications to provide supply chain transparency, to install over 1,500 of what they call “proof points” across 60 of their different brands.

In 2021, European luxury brands LVMH, Prada, and Richemont announced a partnership with The Aura Blockchain Consortium. According to LVMH’s press release: “This unprecedented collaboration between competitors represents a single, innovative solution to shared challenges of communicating information on authenticity, responsible sourcing, and sustainability in a secure, digital format. The objective is to provide consumers with a high level of transparency and traceability throughout the lifecycle of a product.”

While supply chain transparency is one of the most important and needed benefits, it is only a small piece of how we are seeing brands begin to embrace blockchain in the beauty industry’s bigger picture. 

Using blockchain to centralize and elevate the customer loyalty experience

A strategic, compelling loyalty rewards program can elevate the customer experience but one that comes with low client redemption rates, time delays, and high costs can break a brand. 

By centralizing a customer’s loyalty program, blockchain can modernize and elevate the structure a few different ways: 

  • Reducing system management costs with smart contracts that report secure, tracked, transparent transactions guaranteed by cryptography. 

  • Enabling a transaction to be recorded and accessed by multiple involved parties in near real time, helping the provider credit points faster.

  • Creating an immutable and time-stamped distributed database entry of every single transaction ever made, making each transaction and its record easily traceable, but also rendering them irreversible to preventing double spending, fraud, abuse, and any other type of manipulation of the transactions.

Em Cosmetics, founded by Youtube beauty guru Michelle Phan, turned to blockchain solutions to offer its customers more flexible loyalty initiatives. Partnering with Lolli, a cryptocurrency rewards company, they offer up to a 4.5 percent portion of Bitcoin to any customer who downloads Lolli’s web extension and shops with Em Cosmetics. So instead of the usual cashback, customers on Em Cosmetics receive Bitcoin back.  

NFTs and ‘Crypto Comsetics’ could be the future of brand relationship building

In the world of beauty, brands are constantly looking for fresh and exciting ways to extrapolate their DNA. Good branding not only sets a brand apart from its competitors, but it also allows a company to build relationships with its audiences, eventually turning them into loyal customers. 

NFTs, or non-fungible tokens, are electronic tokens that have been recorded onto a blockchain ledger (meaning it can be verified as the original of that specific file) and represent the unique and genuine possession of a digital or real asset or concept.  They are completely unique digital assets that can be auctioned on and traded in cryptocurrency marketplaces. 

The art and fashion world were some of the first industries outside the crypto-universe that began using NFTs to create unique pieces for their consumers that would offer digitally preserved right of ownership—resulting in a buyer’s sense of exclusivity and ability to feel like they own a little piece of the brand the love.  

The beauty industry isn’t too far behind now as we start to see some cult brands offering NFTs:  

  • Clinique created three editions of their first NFT, called “MetaOptimist” in October 2021. Instead of selling them, each year over the next decade the brand is giving its Smart Rewards members the chance to receive the NFT and a selection of products. To enter for a chance of winning, they are asking customers to share their stories of optimism and hopes for the future. 

The lines between metaverse and real life are becoming as blurred and smudged as leftover lipstick after a Friday night out. It was only a matter of time until technology like blockchain began to fuse with beauty—which can be confusing given the tangible nature of cosmetics. But considering the bold benefits and all the ways it’s already begun to revolutionize the beauty industry, it seems that the mutually beneficial relationship between the two has a future. 

And considering that blockchain offers the beauty industry an opportunity to become more digitized and interactive—one that actually aligns with the values that consumers are beginning to demand most, authenticity and transparency—it’s a future that looks bright.

Written by Kate Dillen

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How WFH Impacts People With Disabilities for Better and Worse

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After completing an online master’s degree during the pandemic, Kate Thompson, 48, got offered a teaching position by the university. Due to a degenerative spinal condition, she was able to get an Americans with Disabilities Act (ADA) accommodation that allowed her to work remotely full-time, which was the only way to could have accepted the offer.

“The long commute and long days upright without brief periods where I could work lying down would not have been viable for me,” she says. 

For Thompson (and the 26 percent of American adults have some kind of disability), this type of workplace flexibility was not as feasible before the COVID-19 pandemic because, historically, people with disabilities have primarily been hired for low-income jobs that require being physically present to perform.

However, the shift toward telework necessitated by state-at-home orders opened the door to more opportunities to WFH in various fields. During the pandemic, the portion of the labor force remote working leapt from 17 percent to 44 percent at WFH’s peak in 2020. 

But today, workers with disabilities are more likely to WFH than people without disabilities (an estimated one in five). What’s more, people with disabilities who telework are more likely to be self-employed than people without disabilities. An estimated 4.4 million businesses started during the pandemic, and many entrepreneurs with disabilities were among them. 

Why WFH isn’t a fix-all for people with disabilities

Although this shift has led to some meaningful progress in the workplace for people with disabilities, as well as neurodivergent individuals, it is far from a perfect solution. People with disabilities still face a wage gap (87 cents for every dollar people without disabilities make, according to the U.S. Census Bureau), toxic work environments, and stereotyping.

What’s more, only about 40 percent of people with disabilities are currently employed, compared with nearly 75 percent of people without, according to a January 2023 report by the U.S. Department of Labor. 

Still, people like Jay (who is using a pseudonym) see it as a step in the right direction. An academic who lives with both cognitive and physical disabilities, as well as a compromised immune system, Jay says, “Working from home gives me the freedom to focus on tasks when I have the mental and physical energy for them, and also saves me energy that I would normally spend commuting to and from work.” 

How telework helps people with disabilities balance work and life

Studies show that telework is associated with higher job satisfaction and lower rates of absence for people with disabilities. The study authors explain that WFH may reduce pain and fatigue, as well as offer workers more time for breaks and work-life balance, which both Thompson and Jay say makes working more feasible for them.  

Jay also notes that pursuing their career from home kept them from burning out and compromising their health as a result. “When I realized this, I started working from home part-time, as well as getting other accommodations to make my [in-person] work environment more comfortable and accessible, like asking for a parking spot nearer my office than the regular employee parking or making sure my office is in a building with an elevator,” they say. 

Where WFH levels the playing field for people with disabilities

Another way WFH culture has impacted people with disabilities, specifically those with speech impediments, is that more business is conducted via digital communication, like email and Slack, which allows for fewer meetings and stop-by-the-cubicle talks that normally happen in office settings. 

Recently, John Moore, a marketing strategist who speaks with a stutter, told InclusionHub, digital communication levels the playing field in some ways. “It comes down to being stigmatized. People with speech difficulty get stigmatized for being less intelligent, less educated, and less capable. We know exactly what we want to say, it just may potentially take us longer to say it.” 

For all these reasons and more, people with disabilities are keen to keep working from home, and above all, the National Organization on Disability supports flexible work policies, its associate director of special projects for the organization, Charles Catherine, told CNN. 

What remote workers with disabilities gain in flexibility, they lose in visibility

Being able to work from home certainly has its advantages, but there are downsides to consider that can be especially impactful for already marginalized groups. For starters, WFH may negatively affect an employee’s ability to be considered for promotions and training opportunities.

Furthermore, according to researchers at Georgia Tech, telework also puts constraints on the scope of jobs, workplace environment, and networking abilities of those with disabilities. 

It can also be lonely at times, according to Jay, who says, “Working from home when the rest of my coworkers are in person can feel isolating and make me feel disconnected.” 

Another, less obvious downside is that it reduces the visibility of people with disabilities in workplaces, something Joshua Reeves, a campaign support officer with cerebral palsy, pointed out to Welcome to the Jungle, a company dedicated to recreating how people work.

“I always loved going out, catching trains and talking to people about disability rights awareness and campaigns,” he said. 

How a return to office culture could impact people with disabilities

This new year began with a deluge of back-to-the-office orders and folks with disabilities who’ve benefited from working from home now face the potential of heading back to the office, which could undo some of the progress they’ve been able to make toward more equitable work environments during the pandemic. 

Because each company can decide how its employees work, the ability to telework is decided on a case-by-case basis. “My current position allows me to work from home and teach online, but I know that my next position may not,” Jay says. 

Thompson is in the same position. ”I think that in the near future, it is actually going to be much more difficult to get an accommodation that will allow WFH,” she says. “I think a lot of folks who have disabilities are going to start looking for other jobs that will let them continue at home.”

Written by Sarah Myers

Paulana Lamonier Is Making It Her Business To Ensure Black People Learn To Swim

As many entrepreneurs will tell you, often the best business ideas come from trying to solve problems for yourself or your community, as was the case for entrepreneur Paulana Lamonier, founder of Black People Will Swim, an organization based in Brooklyn that provides community swim lessons during the summer.

While the company offers swim lessons to everyone, its call to action is to help people of color learn to swim because Black people are 1.5 times more likely (and Indigenous people are twice as likely) to die from drowning as white people, per the Centers for Disease Control (CDC).  And, as Black People Will Swim notes on its website, 64 percent of Black children have no or low swimming abilities, according to reports from the USA Swimming Foundation.

“Black and Brown people are drowning and dying, so swimming is a life skill,” says Lamonier, who won the Create & Cultivate pitch competition in Dallas last year. “If only a certain group of people have access to a life skill, where does that leave everyone else?”  

The beginnings of Black People Will Swim

Initially, Lamonier didn’t set out to start a company—the idea for Black People Will Swim began as a challenge in 2019, she says. Her goal was to teach 30 people how to swim. But after one of the participants told her that Black people can’t swim because their bones are too dense, she realized that people didn’t just need access to instruction, they needed information as well. 

“We created four pillars to make sure that anything and everything we do aligns with our core mission,” Lamonier says. “Essentially, we are encouraging our community to face their fears.” Aptly, these four pillars form the acronym FACE: fun, awareness, community, and education.

“We want to make sure that people are having fun, that we’re building awareness around the statistics, that we’re creating community, and that we’re educating people on how swimming is a life skill,” Lamonier says. “It’s not a matter of whether we, as Black people, can or can’t swim—it’s more like we will swim.”

So far, Lamonier’s helped 200 people of all backgrounds and ages learn to swim, but she believes that’s just the beginning. 

How Lamonier plans to next-level her business

At the top of Lamonier’s to-do list is building out her team. “This year, I aim to onboard a few more people,” she says. “I’m hiring an aquatics director, which is hard to do because this is everyone’s side hustle. We’re a seasonal business.” (Read: If you, or anyone you know, fits the description, contact Black People Will Swim.)

“We’re also looking for a place to call home,” Lamonier says. “Grants like Create & Cultivate’s really help us with funding so that we can find a pool and not scramble for rent. We’ll pay for rent upfront and pocket the profits from our classes.” 

Within the next three years, Lamonier’s biggest hope is to establish partnerships, particularly with Black celebrities who swim and share their love of swimming online because seeing someone who looks like you doing something you always thought you couldn’t do is quite inspiring.

“I would love to partner with Kevin Hart because he grew up swimming,” she says. The actor and stand-up comic told the Golf Channel that swimming shaped his life.

In the not-so-distant future, Lamonier would also like to launch a swimwear line that solves another of her problems: Being able to find a suit that falls somewhere between leisure and competitive styles. 

Lamonier’s tips for making an impact as an entrepreneur

1. Figure out what your ideal business would look like

Lamonier believes that before you can actually start making an impact, you have to make the vision plain. “Literally write it out, and understand the roadmap,” she says. 

Ask yourself what your mission is and how you’re going to get there. Part of doing this, Lamonier adds, is figuring out what you’re naturally good at. “What do a lot of people come to you for? For me, it was always swimming,” she says. (Lamonier learned to swim in 2009, and spent 10 years teaching lessons for swim clubs, teams, and gyms before founding Black People Will Swim.)


2. Tailor your team to your weaknesses

Once you know where you’re going and what it’ll take to get there, it’s time to figure out who will help you stay the course. Lamonier has a great hack for building a well-rounded team: “Get familiar with your strengths and weaknesses because you want to hire to your weaknesses,” she says. “Like, if you’re forgetful, get an assistant.” After all, you can’t get to where you want to go if you spend most of your time catching up with emails.  

3. Remember your why

“We are in the business of saving lives,” Lamonier says. “We taught 200 people how to swim this summer—and that’s 200 lives we just saved by teaching this life skill.” That’s an opportunity she seldom takes for granted, and one that keeps her motivated to keep going.

As an entrepreneur who often outsources work, Lamonier is also grateful for the ability to bring jobs to her community. “I am blessed to be able to create a small ripple effect in this economy through the power of swimming,” she says. “Black People Will Swim was a lot of people’s first job—like my sister and my cousin.”

Above all, the most important thing is to not get caught up in worrying about what other people are doing, according to Lamonier, who says: “I stay in my lane, no pun intended.”

Written by Natalie Arroyo Camacho

Want to learn more about Paulana's work? Tune into this week's episode of WorkParty where she talks about the investment she made to launch the organization, her secret to an award winning pitch, and advice for founders who are seeking grant money.