Investing in Diverse Founders for a Better Tomorrow with Laurel Mintz

In this episode we are joined by an esteemed guest, Laurel Mintz, a distinguished figure at the intersection of marketing and venture capital, shares her journey as the founder and CEO of Elevate My Brand and general partner at Fabric VC.

With a commitment to amplifying the voices of underrepresented founders, Laurel elucidates her mission to foster innovation and drive impactful change within the business ecosystem.

Throughout our conversation, we delve into the intricacies of her unique approach to investments, emphasizing the importance of industry differentiation and the strategic application of marketing expertise in nurturing emerging brands.

Join us as we uncover valuable insights that illuminate the path toward prosperity for women-led enterprises, underscoring the significance of collaboration and support within this evolving landscape.

Our Guest This Week:

In this week’s episode of #WisdomofWomen we have an 🌟 Equity-Infused Brandsmith 🌟 in our midst!  

Laurel Mintz is a powerhouse at the intersection of marketing and venture capital. As Founder & CEO of Elevate My Brand, she has spent 16 years architecting award-winning campaigns for icons like Verizon, Paw Patrol, Sprinklr, and Squishmallows, helping brands cut through the noise and scale with measurable growth. As General Partner of Fabric VC, she channels her expertise into backing diverse founders building the next wave of consumer-tech, health, and fintech innovations. Known for blending a marketer’s creativity with an investor’s rigor, Laurel champions purpose-led companies that drive both profit and impact. Her mission is simple yet bold: to elevate innovation, amplify underrepresented voices, and shape a business ecosystem that lifts humanity forward.

Takeaways:

  • Laurel discusses her journey from family business to venture capital and marketing.
  • The episode highlights the significance of industry differentiation for startup success.
  • Listeners are encouraged to invest thoughtfully and educate themselves about the venture capital process.
  • Coco and Laurel stress the necessity for women to engage in investing and support diverse founders.
  • The episode concludes with a call to action for women-led businesses to create positive societal change.

Chapters:

00:08 The Emerging Model of Leadership

04:19 Exploring the Entrepreneurial Journey

12:17 Differentiating in the Venture Space

27:20 Founders and Their Financial Journeys

30:03 Getting in the Game: Small Checks and Big Opportunities

Burning Questions Answered:

1.What truly differentiates successful brands in crowded markets?

2.How can founders prepare their businesses to attract investment?

3.Why are women underrepresented as investors — and how can we change that?

4.What should first-time investors know before writing their first check?

5.How can women founders balance creativity, purpose, and profitability?

Favorite Quotes

“The only way to stand out is with differentiation. You’ve got to bring it.”

“Go forth, be fabulous, and make change possible.”

Guest Offers & Contact Information:

https://www.linkedin.com/company/fabric-vc 

https://www.instagram.com/fabricventure/ 

Follow the #WisdomOfWomen show for more inspiring stories and insights from trailblazing women founders, investors, and experts in growth and prosperity.

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Amazon Prime: https://tinyurl.com/366syddj 

Apple Podcasts: https://tinyurl.com/bdhananz 

RSS Feed: https://feeds.captivate.fm/womengetfunded/ 

Coco Sellman, the host of #WisdomOfWomen, believes business is a force for good, especially with visionary women at the helm. With over 25 years of entrepreneurial experience, she has launched five companies and guided over 500 startups. As Founder & CEO of A Force for Good, Coco supports purpose-driven women founders in unlocking exponential growth and prosperity. Her recent venture, Allumé Home Care, reached eight-figure revenues and seven-figure profits in just four years before a successful exit in 2024. A venture investor and board director, Coco’s upcoming book, *A Force for Good*, reveals a roadmap for women to lead high-impact, high-growth companies.

Learn more about A Force for Good:

Website: https://aforceforgood.biz/ 

Are Your GROWING or PLATEAUING? https://aforceforgood.biz/quiz/

FFG Tool of the Week: https://aforceforgood.biz/weekly-tool/ 

The Book:  https://aforceforgood.biz/book/ 

Growth Accelerator: https://aforceforgood.biz/accelerator/

Transcript
Speaker A:

Welcome to the Wisdom of Women show.

Speaker A:

We are dedicated to amplifying the voice and wisdom of women in business.

Speaker A:

A new model of leadership is emerging and we are here to amplify the voices of women leading the way.

Speaker A:

I am your host, Coco Selman, five time founder, impact investor and creator of the Force for Good system.

Speaker A:

Thank you for joining us today as we illuminate the path to unlocking opportunity and prosperity for women led enterprises by amplifying the voice and wisdom of women.

Speaker A:

Today we have an equity infused brandsmith in our midst.

Speaker A:

Laurel Mintz is a powerhouse at the intersection of marketing and venture capital.

Speaker A:

As founder and CEO of Elevate My Brand, she has spent 16 years architecting award winning campaigns for icons like Verizon Podcast, Paw Patrol, sprinklr and squishmallows.

Speaker A:

Helping brands cut through the noise and scale with measurable growth.

Speaker A:

And as general partner of Fabric vc, she channels her expertise into backing diverse founders, building the next wave of consumer, tech, health and fintech innovations.

Speaker A:

Blending a marketer's creation creativity with an investor's rigor, Laurel champions purpose led companies that drive both profit and impact.

Speaker A:

Her mission is simple yet bold.

Speaker A:

To elevate innovation, amplify underestimated voices and shape the business ecosystem that lifts humanity.

Speaker A:

Welcome Laurel.

Speaker B:

Thank you so much for having me.

Speaker A:

Oh my goodness.

Speaker A:

You are so accomplished and I know you from lots of places, but I think one of the places we first got to connect was through Carrie Kirpin and the Whisper Group.

Speaker A:

So you're also an exited founder.

Speaker B:

Yes, yes.

Speaker B:

It was a family business that I took over at 26 and I'm sure we'll get into that.

Speaker A:

Yeah, well, you know, it's just fascinating.

Speaker A:

It's got to be connected to your name, right?

Speaker A:

The voice, the Fabric vc.

Speaker A:

Right.

Speaker A:

Because it wasn't some kind of a furniture business.

Speaker A:

Is that right?

Speaker B:

Am I right?

Speaker B:

Facet.

Speaker B:

It's still around.

Speaker B:

It's a big national chain and my dad was in charge of running the west coast.

Speaker B:

I took over when he got sick and he's healthy now, thank goodness.

Speaker B:

Took over that at 26, ran it for three years, exited at 29, launched Elevate and then Fabric.

Speaker B:

So you know, wow, that, that timeline is such a blur, but also such an exciting time.

Speaker A:

Oh my goodness, yes.

Speaker A:

Well, before we get too far in, what is a book written by a woman that has significantly influenced your life?

Speaker B:

So this is going to be an odd one because I know usually women want to talk about or folks want to talk about business books and I feel like everyone's probably mentioned a business book, but for some reason I have always loved the book Valley of the Dolls.

Speaker B:

It's first of all, it's in a pink cover, which I always loved with a cutout for the pills.

Speaker B:

It's a very salacious, very kind of dark and stormy and sexy and very Hollywood book by Jacqueline Suzanne.

Speaker B:

And I remember reading it when I was in my teens and thinking, I don't think I should be reading this book.

Speaker B:

But I find that that's kind of been part of the thesis of my life is like, I probably shouldn't be doing this.

Speaker B:

Let's fucking go.

Speaker B:

I love it.

Speaker A:

So, you know, it's a great way for us to think about our power.

Speaker A:

Right.

Speaker A:

And so this book has influenced you in that way.

Speaker B:

I'll have to check it out.

Speaker A:

I have not read this book.

Speaker B:

I have the paper cover.

Speaker B:

It is so dog eared and old and it's one of the only books that I've kept.

Speaker B:

My husband doesn't like clutter in the house, so all the books are in the garage.

Speaker B:

And that is the only book that's in the house.

Speaker B:

That's mine.

Speaker A:

I'm gonna actually pick up the audible version and listen to it right away.

Speaker A:

It sounds like fun.

Speaker A:

So I always like to really go in and find out the moments of our guest life that have influenced them, shaped them.

Speaker A:

Moments that been hard or moments that have been great.

Speaker A:

So looking back over your life, what would be three moments that have shaped who you are?

Speaker A:

Bold moments, said no more moments, loss moments, gains, moments, gifts that came out of the sky.

Speaker A:

What would be some of the three of those moments that bring you to who you are today?

Speaker B:

I think definitely coming out of the womb would be number one.

Speaker B:

God said that I came out with this kind of energy.

Speaker B:

So I always have this kind of fire perspective and energy about how I showed up in the world.

Speaker B:

That's probably a little bit unfair because I wasn't that conscious of that experience.

Speaker B:

But I've always come out this way.

Speaker B:

Like I always had this energy, I always had this attitude.

Speaker B:

I would say probably the next one was taking over the family business because it was equal parts horror and taught me that I was an entrepreneur.

Speaker B:

You know, my dad was going through stage four bladder cancer which he survived, and stepping into a CEO role at 26, having no prior experience other than what he had taught me was really life changing.

Speaker B:

I think at the time I thought my path to corner office partner track of the law firm was totally derailed.

Speaker B:

But now looking back, I know that that was what put me on the path to being an entrepreneur, which was really always my journey.

Speaker B:

So that's probably number one, if I'm being honest.

Speaker B:

Number two is running and launching Elevate, my brand, which also came out of not, I wouldn't say nowhere, but I was going after the big law firm jobs after my dad stepped back in and we sold that company.

Speaker B:

And I was physically and viscerally nauseous every time I would get one of those great six figure offers.

Speaker B:

My mother was so proud.

Speaker B:

She's like, oh, my dog or the lawyer and was drinking bottles of Pepto Bismol.

Speaker B:

After the third bottle, I was like, God, my physical body is telling me this is not my path.

Speaker B:

And I had been consulting because my MBA is in digital marketing and I'd been consulting in that world.

Speaker B:

And I woke up one day and had this aha of oh God, I can actually make a career that I love out of this.

Speaker B:

And that's when Elevate was born.

Speaker B:

So those are the first two and then I've got a third.

Speaker B:

Unless you have questions on the first two, I'm going to keep going.

Speaker A:

Go ahead, go ahead.

Speaker B:

Final one is definitely the decision to launch fabric, which again, I say these things are by accident, but I don't believe in accidents.

Speaker B:

I think everything is kind of predestined if you pay enough attention.

Speaker B:

Because of my legal and business background, a lot of private equity and venture firms were coming to us to market them.

Speaker B:

About three years ago, one of the GPs we were working with called me out and said, you need to go launch a venture fund.

Speaker B:

You have this insane early deal flow, this marketing special sauce and this commitment to diversity.

Speaker B:

Honestly, I was like, no, thank you.

Speaker B:

I'm an operator.

Speaker B:

I do not need a second headache.

Speaker B:

But at that point, I had been an LP in two or three funds and I kind of got obsessed with the idea.

Speaker B:

I started doing the homework and research around it and saw the percentages, which I'm sure we'll get into now, and frankly saw a business opportunity and decided, if not me, who?

Speaker B:

If not now, when?

Speaker B:

We need more change in this category.

Speaker B:

And as you can tell, I'm that woman who's going to go out and make change happen.

Speaker B:

So I'd say those are probably the three and a half moments that have impacted and changed the trajectory of my life.

Speaker A:

That's amazing, you know, and you really are a entrepreneur, you know, at heart, it's like you were born, you were born to be an entrepreneur.

Speaker A:

And it's like you just keep, you just keep doing It I watch you and your successes and your instincts around growing early stage companies and getting them off the ground.

Speaker A:

It's pretty amazing.

Speaker A:

You also have experience with later stage brands, which I imagine is great because you have this idea you can see what a fully formed brand and go to market strategy looks like.

Speaker A:

Right.

Speaker A:

Tell, tell us a little bit about that experience of going between big brands and startup brands.

Speaker B:

I think it's a mix that most entrepreneurs, especially in any kind of consultative capacity needs.

Speaker B:

Right.

Speaker B:

Because I can't hear you there.

Speaker B:

Miss me?

Speaker B:

You got me.

Speaker A:

Oh yes, I'm with you.

Speaker A:

I gotcha.

Speaker A:

Go ahead.

Speaker B:

I think that both sides of that fence are things that when you're in a consultative capacity, you really need to build your reputation.

Speaker B:

I will say everyone always thinks that you want the big flashy brand names.

Speaker B:

Right.

Speaker B:

They call them buying logos or investing in logos or whatever that term is.

Speaker B:

I would tell you that the bigger the company, the messier the internal teams tend to be.

Speaker B:

There's all these layers of BS that you have to cut through to get anything done.

Speaker B:

Whereas when you're launching a new brand or helping a brand scale, you're control over the Omni channel of what that brand is trying to do and what they're willing to test and fail at is far greater.

Speaker B:

So I would say I love having all the brands on our roster that we've impacted, but you only get to impact a small sliver of these massive organizations.

Speaker B:

Whereas when you're building a brand from scratch or growth, you get to have a lot more impact and see the outcomes in a much more significant way.

Speaker A:

Yeah, so you're at this crossroads between marketing and venture.

Speaker A:

These two things along with your experience as a CEO and exiting.

Speaker A:

Right.

Speaker A:

Like those, those experiences help you in really rich ways.

Speaker A:

On your website it says that Fabric VC is a seed fund that invests in consumer tech, health tech and FinTech.

Speaker A:

Leveraging 30 plus years of marketing agency and full service financial operating experience, growing 500 plus diverse LED brands, 80% who have raised capital.

Speaker A:

So you have this very specific experience that, that you can bring together.

Speaker A:

Tell us what makes Fabric VC so special in this way.

Speaker B:

Well, I will tell you that this is kind of like you just let the cat on the bag a little bit because I didn't realize my team had already updated the.

Speaker B:

The messaging on the homepage hasn't been publicly announced yet that we have this new partnership coming with the code gp.

Speaker B:

So this is our coming out party which is pretty exciting.

Speaker B:

I didn't realize that.

Speaker B:

But you know, we love, we Love an expose moment where you're like breaking news.

Speaker B:

Right.

Speaker B:

So you heard it here first.

Speaker B:

Very excited.

Speaker B:

But to answer the question, you know, we really believe that being operators are what makes us unique in the space in many ways.

Speaker B:

One, we understand what it feels like to be on the other side of the table from the founding teams.

Speaker B:

Whereas most like 95% of GPs at venture funds have never operated a company.

Speaker B:

And you can imagine it's like it's teaching versus doing.

Speaker B:

And unless you've had that hands on, gritty, challenging time of running a company, of having failure and understanding how to pivot in situations where you don't know if you're going to make payroll or things like that, I just don't think you understand how to really support founding teams.

Speaker B:

So that's the one side.

Speaker B:

The other piece of it is with my marketing expertise and my CO GP finance background, we're covering like 90% of the ground of what these founders need.

Speaker B:

And so not only can we diligence for those uniquely so we have our own individual processes that include full far more than just traditional financial and founder diligence.

Speaker B:

We have these other layers that we believe are helping us to de risk our portfolio company picks.

Speaker B:

And if we can do that as we are doing that, the thesis is that we will provide alpha returns for our investors.

Speaker B:

And that's something that we're really excited about and are currently executing on.

Speaker A:

I have this theory of perpetual virtuosity where you can create systems of constant goodness.

Speaker A:

And I feel like you're such a perfect example of someone who starts something like an agency and then transforms it into being a place where founders can get funded.

Speaker A:

And then you can also help them with that same expertise in a very specific way and de risk yourself at the same time.

Speaker A:

It's just really brilliant.

Speaker A:

So you know, one of the things on your website you have@fabric VC.com, you have an opt in which I hoped all of our listeners go and grab.

Speaker A:

It says 78% of businesses fail due to poor business and marketing plans.

Speaker A:

You have a proprietary vetting process that helps you figure out the thread count of your companies, the companies you select.

Speaker A:

And you talk about these.

Speaker A:

You've got visual branding, messaging, backlink, health, website health, search, health, social media health and industry differentiation.

Speaker A:

So tell us more about this because I think this speaks to our founders, like how you see what's a healthy company.

Speaker B:

Yeah.

Speaker B:

The truth is I had this idea when I was in the shower because I think that's where you have all your best ideas.

Speaker B:

When your brain is turned off or you're in that kind of alpha wave space, for me, it's only working out, cooking or in the shower.

Speaker B:

And so I'm in the shower as I was thinking about launching fabric and I thought, we need to be differentiated.

Speaker B:

Obviously, I'm differentiated because of the marketing expertise, but how do we then explore that as the offering?

Speaker B:

On the fabric piece, I thought, I've got this incredible listening software that we've been using for a decade plus on the agency side, what if I rebranded it a little and ported it over to fabric and used that as a second layer of diligence specific to the marketing expertise?

Speaker B:

It is something we do on the elevate side that we charge our clients for every time we work with them.

Speaker B:

And I thought it does a couple things.

Speaker B:

One, it de risks point.

Speaker B:

Two, it tells us if our check's going to meaningfully close the gap for these companies, which is really important for us.

Speaker B:

And then three, on about a quarter of the deals that we write cash checks to, we match with sweat equity on the agency side.

Speaker B:

So it can tell us if the marketing expertise layer can be a real added value for these companies.

Speaker B:

And I would say the fourth piece is we do that on almost every company that we diligence.

Speaker B:

So even if we don't write a check, the value of that report, which is usually 60 to 80 pages and super detailed, is extremely valuable.

Speaker B:

And then those founders can go and execute on that fabric thread count.

Speaker B:

We call it the roadmap.

Speaker B:

On the agency side, it's the thread count because we still have to be clever and marketers and, you know, branded properly, but it's the same thing.

Speaker B:

They just get it for free.

Speaker A:

On the fabric side, it's amazing.

Speaker A:

And one of the things that I found fascinating, and I love your thinking around this, is that there's different points set up for each thing.

Speaker A:

And the thing that has the most points by far is industry differentiation.

Speaker A:

Talk to us about that and why that is such an important lever in your mind as.

Speaker A:

As both, I'm sure, as a founder, knowing what you know as well as a marketer and an investor.

Speaker B:

Well, I'm walking the talk myself.

Speaker B:

Right.

Speaker B:

I just talked about it.

Speaker B:

I was in the shower and I was like, I don't want to just be another venture fund, right?

Speaker B:

Just the same way, didn't want to just be another agency.

Speaker B:

How do we create an offering that is significantly differentiated from what's in market for us?

Speaker B:

On the venture side, then why does someone like you want to invest in fabric versus the 10,000 other funds that are out there.

Speaker B:

And it's the same thing on the brand side.

Speaker B:

Right.

Speaker B:

So we need to make sure that we've invested in many companies that are similar but either have different targets or their processes are different, or they just need to be thoughtful about how they differentiate because that plays into every single component of how they present.

Speaker B:

It's the branding and messaging, it's the targeting piece which then impacts the marketing roadmap and spends.

Speaker B:

It's all a trickle down.

Speaker B:

I think people often look at brand or.

Speaker B:

And differentiation as a brand as something that's a nice to have, not a need to have.

Speaker B:

But.

Speaker B:

Well, no.

Speaker B:

Having been in this space a long time, there is so much noise out there.

Speaker B:

And the only way to stand out is with a differentiated approach.

Speaker B:

Technology, message and brand.

Speaker B:

We're targeting.

Speaker B:

Hopefully it's a collection of all of those pieces.

Speaker B:

So gotta bring it.

Speaker A:

Yeah.

Speaker A:

Tell us about a brand that you like, maybe that you've invested in, that has a clear differentiator, just so our listeners get it.

Speaker A:

I hear a lot of founders say, oh, we have higher quality.

Speaker A:

That's just noise, in my opinion.

Speaker B:

Right, Absolutely.

Speaker B:

Great customer service.

Speaker B:

Well, if that's not something you have, then you should just shut your doors right now.

Speaker B:

Unfortunately, we have to have that conversation all the time.

Speaker B:

Why do you do what you do or what makes you different?

Speaker B:

And they're like, we're best in class.

Speaker B:

And I'm like, cool, no money from me.

Speaker B:

Do you know what I mean?

Speaker B:

Like, it's just, it's like old that people just still don't get it after all this time.

Speaker B:

But I would say a good example of a differentiated product.

Speaker B:

Let me think about it.

Speaker B:

It's like choosing from my children.

Speaker B:

This is so hard.

Speaker B:

I don't have kids, but my companies are my children.

Speaker B:

Our first check ever actually was to a company called Cadence.

Speaker B:

Chinese American female founder out of New York.

Speaker B:

And she does these little tiny pods that you put your creams and serums and jewelry in for travel.

Speaker B:

So very much a consumer play.

Speaker B:

But then it magnetically attaches and magnetically labels.

Speaker B:

So it has this really interesting and differentiated IP moat, which as an attorney, I love.

Speaker B:

Right.

Speaker B:

Nobody can copy it.

Speaker B:

The structure of these pods are really interesting.

Speaker B:

They're octagonal, they've got extenders and they're upcycled plastic.

Speaker B:

So there's all these different layers of uniqueness or differentiation that the founding team thought through in a really thoughtful way.

Speaker B:

Colorways and everything to make sure that a consumer is excited about it versus those you know you used to travel with that would leak into your luggage.

Speaker B:

I really like something that has an IP moat around it.

Speaker B:

I like something that has some tech component.

Speaker B:

I just thought she was really smart about building in also the eco piece, we say we only invest in companies with a quadruple bottom line.

Speaker B:

They have to be good for people, purpose, planet and profits.

Speaker A:

And so again, for all of our founders listening, those decision points and differentiators really allow you to become great.

Speaker A:

You're not a regular VC because you have all these other areas of expertise and relationships.

Speaker A:

And this really, you have to go to check out on, on the, the website to pick up this, this opt in, this fabric vc dot com.

Speaker A:

Because I think it's important for founders to just take a look at how a, how a founder herself, as well as a VC and marketer thinks about what's going to create a business that scales.

Speaker A:

So tell us about how you work with a company that's in your portfolio and what is very different because you're going to be partnering with them on the marketing side and maybe making a joint equity investment with that as well.

Speaker B:

Yeah.

Speaker B:

And to be clear, we only do that on about a quarter of the deal.

Speaker B:

Because as an operator having this other company, we were very intentional about understanding how to run both simultaneously, how to connect the dots, but also how not to overwhelm and elevate my brand.

Speaker B:

Because if we just took equity in every company, then the agency would have no cash flow.

Speaker B:

So it's a really intentional thought process about.

Speaker B:

Okay, from a manpower perspective, if we have this as our revenue that we need for the year, and this is our team and their capacity combined, how much extra capacity do we have to then offer our portfolio on the fabric side?

Speaker B:

So with my ops team on Elevate, we went through and very intentionally said, okay, we believe we can do X number of hours for X number of clients each quarter and then that fed into the fabric side.

Speaker B:

I want to be clear, it's not all companies.

Speaker B:

It's a great example of how to be operationally thoughtful.

Speaker B:

I totally forget what the original question was.

Speaker A:

Coco.

Speaker A:

I just wondering about how you approach the work you do with a portfolio company when you have this other expertise that you bring in.

Speaker B:

Yeah, we run it just like they were an agency client.

Speaker B:

We've already done the fabric thread count, so that's the piece that's under the hood.

Speaker B:

And then we build out a scope of work.

Speaker B:

What's unique about what we do at Elevate is that we've been using a system called Harvest.

Speaker B:

We've been tracking our clients for the last 10 plus years.

Speaker B:

So we know what it takes from a time hours and human power perspective to execute each different category of marketing.

Speaker B:

So when we come back after doing the thread count, we will build a scope out that's a menu of services and it says something like 53 hours of organic social and then a very detailed outline of what that would look like, 26 hours of paid media, blah, blah, blah, whatever.

Speaker B:

So we build it just like we would an agency scope, except for they're not going out of pocket and that attaches to the safe for equity that then dumps into the fabric equity pool.

Speaker A:

That's awesome.

Speaker A:

And then you bring that expertise to the table in those circumstances.

Speaker A:

So, wearing your elevate hat, what are the common challenges your company helps early and growth stage companies overcome?

Speaker A:

What advice would you give to an early stage company who has not yet achieved product market fit?

Speaker B:

Well, I'd say the challenges that we see are uncoachable.

Speaker B:

Founders.

Speaker B:

Being a founder requires a little ego.

Speaker B:

I've been knocked down enough times to have a bit more balance than most.

Speaker B:

Probably when we have really young founders that just think that they can do anything, they need a little bit of that for sure.

Speaker B:

You need to be a little bit crazy to be a founder and have a little bit of that energy.

Speaker B:

And you also need to be able to lean on experts that know better than you do.

Speaker B:

So I think an uncoachable founder is a really important one for us.

Speaker B:

The other one we see often is, well, I don't have any competitors means.

Speaker A:

You don't have a market, right?

Speaker B:

Exactly.

Speaker B:

Talking about product market fit, then why are we talking.

Speaker B:

And when we talk about competitors, we're not really talking about someone else who's created the exact same thing in the exact same market in the exact same way that you have when we're talking about competitors.

Speaker B:

Because in marketing, when you launch a brand, especially in a new market where someone doesn't know like or trust you, what you're really doing is conquesting, right?

Speaker B:

It's conquesting campaigns.

Speaker B:

So you're pulling eyeballs or share of market from the leaders or the companies that are a hop, skip and a jump ahead of where you are in your journey.

Speaker B:

And so that always makes me laugh when founders are like, I don't have any competitors.

Speaker B:

I'm like, then you haven't done your homework and you're probably not ready for us.

Speaker B:

I try and be nice about it and just say, look, when I say competitor, this is what I mean.

Speaker B:

Because there are only so many eyeballs and so many dollars in the market.

Speaker A:

In your category they're having, they still a customer has the need that your company solves, whether your company exists or not.

Speaker A:

And somehow they're getting that need met.

Speaker A:

So whether you're a SaaS product that is selling to CFOs or you know the CFO is doing a Google Meet spreadsheet, right?

Speaker A:

Like that's your competition, right.

Speaker A:

You have to know all the different ways and then you know, well I'm doing this for free, so how am I going to go over and do this SaaS platform and pay you for it when this is free?

Speaker A:

You have to know who your competition is.

Speaker A:

So you see that the thing that I would find as a founder particularly helpful in a relationship with your expertise is all the experience you have.

Speaker A:

How many leads do I actually need in order to convert and like what is a good conversion rate for my market and what's the data I should be looking at?

Speaker A:

You're very data driven.

Speaker A:

Right.

Speaker B:

We consider ourselves on the agency side to be what we call center brain.

Speaker B:

Inspired by the data, inspired by the creative, but really driven by the data.

Speaker B:

Things can be beautiful or interesting or dynamic, but if they're not tracking towards some sort of key performance indicator, then you're just making beautiful things.

Speaker B:

If that's what you want to do, great.

Speaker B:

But that's usually not going to build a multimillion dollar company.

Speaker A:

Right.

Speaker A:

And so that's probably something you look for.

Speaker A:

Right?

Speaker A:

We look for people who are tracking KPIs and can give you stuff back for sure.

Speaker B:

So like we talked through in early stages with our companies on both sides, what a marketing and sales funnel should look like, what typical conversion numbers look like at each stage along that path.

Speaker B:

And then if they haven't done their research and homework to know what their conversions look like per for their customer journey, then there may be a little early or they may be a great target for us to come in and really do some support.

Speaker A:

Right.

Speaker A:

That could be a good fit for you.

Speaker A:

If you think, oh, I know this market, I know how to get this kind of type of funnel going, that could be a good fit.

Speaker B:

The low thread count doesn't necessarily mean we wouldn't invest.

Speaker B:

It means they maybe they've got great product market fit, but they just don't know how to market.

Speaker B:

We had that with one of our fintech companies who was actually quite brilliant.

Speaker B:

She had such a high IQ and EQ that she was very clear.

Speaker B:

She wanted a venture fund that had Marketing expertise because she built this very technical financial product.

Speaker B:

But the buyer of that product was not technical.

Speaker B:

She was having a hard time translating one to the other and was smart enough to say, I need someone like fabric who can bring both things to the table because I know where my fail points could be.

Speaker A:

What a great example for founders to be thinking about when they're looking for partners is like what type of expertise do I need?

Speaker A:

What am I good at?

Speaker A:

Where do I need a good cfo, for example, if I were going to grow an e commerce business, I'd need a crazy data savvy marketer who really could just no.

Speaker B:

1.

Speaker B:

If you need one, well that is good to know.

Speaker A:

Right?

Speaker A:

Because those people are not all built the same.

Speaker A:

Same, right?

Speaker B:

Definitely not.

Speaker A:

So I know that you have a, a big part of your journey in what you do is advocating to get more women writing checks into women led or diverse led businesses.

Speaker A:

Tell us more about that.

Speaker B:

Well, I found that the work in this has really been the education and empowerment piece and it wasn't something that I realized was going to be a part of this journey much as it has been when I started.

Speaker B:

I think that I've been very lucky and also very intentional to be able to build a safe space for women who don't have traditional finance backgrounds, traditional investor backgrounds, to have really safe conversations around their money stories, their money journey, Investing, investing for the first time.

Speaker B:

And I'm super proud to say that because of that, 70% of our investors are diverse and 40% are first time check writers into the asset class.

Speaker B:

Those numbers are pretty staggering when you see what the numbers are usually within funds like these.

Speaker B:

I believe that it's because I don't use jargon as much as possible or I explain the jargon when I'm doing my talks like better than a Birkin from luxury to legacy, which is a really fun one.

Speaker B:

And I also am very open about my financial journey that brought me to this space.

Speaker B:

My parents never talked about money.

Speaker B:

They didn't plan for a future.

Speaker B:

We support and help them now, which I'm happy to do.

Speaker B:

But my parents had to declare bankruptcy after that first company because of that.

Speaker B:

I had these really messed up money narratives in my head.

Speaker B:

When I started making real money at my agency, I had bag lady syndrome.

Speaker B:

I was like, the bottom's gonna drop out, the shoe's gonna drop.

Speaker B:

This is all going to disappear tomorrow.

Speaker B:

But I was smart enough and conscious enough to say, this is a really messed up thought process.

Speaker B:

I need to solve for this.

Speaker B:

How do I do that and I did that by joining a women's investment group.

Speaker B:

I was the youngest person probably by 15 or 20 years at the time I would just sit there and pretend like I knew what they were talking about when I certainly did not.

Speaker B:

I would take notes and go home and educate myself.

Speaker B:

That's how I started my entrepreneurial journey on the finance side.

Speaker B:

Eventually they brought a late stage tech fund carve out and that was our first LP position.

Speaker B:

That was 11 years ago and we will be exiting that position at the top of next year.

Speaker B:

Right now on paper it's a six and a half X.

Speaker B:

So pretty.

Speaker B:

That's great.

Speaker A:

Wow.

Speaker A:

So you started out with your own challenges around money and how has it been for you writing these checks and what's been your journey to where you started and how you think about it now when you invest.

Speaker A:

I guess for those who are just getting used to writing a check, what do you have to say to those people as you do this more and more?

Speaker B:

Yeah, I think the first thing and we were talking about this in the pre call is just get in the game, write a couple of smaller checks.

Speaker B:

I think women in particular think I've got to write a six figure check to get in the game.

Speaker B:

You absolutely do not.

Speaker B:

There's amazing platforms out there like Cherub where you can write small checks and start understanding what the process is like.

Speaker B:

And I think that is an important starting point.

Speaker B:

And my palm is itching which means I'm going to be writing more checks.

Speaker B:

You know you heard that when your palm edge that your money's going to be going out.

Speaker B:

So I'm writing some checks today.

Speaker B:

I think that understanding the process is really important because it also demystifies and descaries the process.

Speaker B:

Right.

Speaker B:

You're like, oh, this is what lpdocs look like, this is what reporting looks like or what I should expect.

Speaker B:

These are the kinds of questions I should ask.

Speaker B:

All these platforms, including Asset Fabric and all of our social channels.

Speaker B:

We have so much education around getting your feet wet in the investment space.

Speaker B:

Investing in one company is the riskiest investment you can make because if that one company fails, your money is gone.

Speaker B:

Which is why I really believe in venture as an asset class.

Speaker B:

But that's also why they've called it historically an access class because women and folks of color have not been given a seat at this table.

Speaker B:

I would say get in the game, write a few small checks to understand the process and then if you can play with a venture fund, what we've done and a lot of other funds have Done is develop an easier capital call structure.

Speaker B:

Meaning instead of just saying, hey, Coco, Our minimums are 150k.

Speaker B:

Write me 150k check.

Speaker B:

We'll call a third of that or a quarter of that once every six months so that you can write a check, build the coffers, write a check, build the coffers.

Speaker B:

I have found that for women in particular, that feels better.

Speaker B:

We want to make sure that we can cover all our bases and we tend to be a bit more conservative in how we do that.

Speaker A:

That is right.

Speaker A:

I would agree.

Speaker A:

And there's so many different ways.

Speaker A:

But with, with your.

Speaker A:

I think, you know, in my experience, I started out angel investing.

Speaker A:

I still do some angel investing, but I quickly learned that I am not the.

Speaker A:

I'm.

Speaker A:

I'm a good operator, I'm a great operator, but I don't know how to pick the best investments and I don't have the deal flow that gives me the ability to say, well, here's 100 or a thousand companies.

Speaker A:

How do I know that the one I'm looking at is any good compared to what else is out there?

Speaker A:

Right.

Speaker A:

And so I know you have great deal flow and you have access to, to different opportunities and you have your own experience and then you have your whole diligence process.

Speaker A:

Right.

Speaker A:

So I don't have to worry when I invest in a venture fund like yours because you have that expertise.

Speaker B:

That's right.

Speaker B:

There's other great groups out there that do it with smaller checks, like Gaingel.

Speaker B:

We love what Jennifer Geronimo is doing on that team.

Speaker B:

I think they've written more checks than any other fund.

Speaker B:

They're an amazing supporter of the diverse community as well.

Speaker B:

At the end of the day, get in the game, write smaller checks, understand the process, but also invest with integrity.

Speaker B:

Invest in people and platforms, services, gps, who you believe are doing good things in the world.

Speaker B:

And I think that's the exciting thing about this time and place is that doing good and doing well are not concessionary.

Speaker B:

And people understand that now.

Speaker A:

Finally, it's so obvious.

Speaker A:

I feel like to women it's just.

Speaker A:

Of course, course, that's how it is.

Speaker A:

Okay, great.

Speaker A:

Let's transition to our fastfire round.

Speaker A:

Five questions in five words or less.

Speaker A:

You ready?

Speaker B:

Yeah.

Speaker B:

I used to be a lawyer, as you know.

Speaker B:

So like five words or less, that's going to be tough.

Speaker B:

But I will try campaign or capital.

Speaker A:

Which gives you more of an adrenaline rush.

Speaker A:

Launching a campaign or closing a deal?

Speaker B:

Closing a deal.

Speaker A:

If elevate my brand had a spirit animal.

Speaker A:

What would it be.

Speaker B:

Probably a black panther.

Speaker B:

Yes.

Speaker A:

As an investor, do you trust your gut or the numbers?

Speaker B:

That's a tough one.

Speaker B:

I'm a gut girly but I have the team to back up the rest of it.

Speaker A:

Who is one under the radar founder or company you think the world should know about?

Speaker B:

I'm really excited about this company called Chipin.

Speaker B:

We wrote a check to them.

Speaker B:

My God, there are so many though.

Speaker B:

I want to talk the beans.

Speaker B:

If you guys haven't seen the beans, that's another one.

Speaker B:

Sorry.

Speaker B:

I know it's five words.

Speaker B:

I told you it was going to be challenging.

Speaker B:

But chip in and the beans are both doing exciting things in completely different categories.

Speaker A:

Love that.

Speaker A:

I know the beans.

Speaker A:

If you could put one Startup Power in a bottle, Startup Superpower, what would it be?

Speaker B:

Startup Superpower in a bottle.

Speaker B:

I think it would be fearlessness.

Speaker A:

Fearlessness.

Speaker A:

That's awesome.

Speaker B:

And like lack of self doubt.

Speaker B:

Like those two things combined.

Speaker B:

I mean I think you need a little bit of it to be healthy, but especially for women and people of color launching companies, I feel like we need more of that.

Speaker A:

What is the best way for founders or investors to find you?

Speaker B:

For founders, if you go to the elevate.

Speaker B:

Nope.

Speaker B:

The fabric VC.com website.

Speaker B:believe that will be January:Speaker B:

So sign up there.

Speaker B:

FabricVC.com Sign up for the Pitch for Investors.

Speaker B:

Laurel@fabric VC.com I really do see everything and respond to everyone and my team will schedule us for a time, but we are getting real close to wrapping this up.

Speaker B:

So kind of now or never.

Speaker B:

Holler at me if you're interested.

Speaker A:

Oh, that's great.

Speaker A:

That's absolutely wonderful.

Speaker A:

And like I said before, for all of you founders out there, definitely go to fabric VC.com even if you're not raising money right now, just to download the fabric map, the thread count, just to give you a sense of what are the things that you should be thinking about to help your company grow.

Speaker A:

Any last words of wisdom for our founders and investors?

Speaker B:

My sign off always when I'm hosting or doing a podcast is the following.

Speaker B:

Go forth, be fabulous and make change possible.

Speaker B:

Love it.

Speaker A:

Go forth, be fabulous, make change possible.

Speaker A:

Thank you all today for joining us on the Wisdom of Women Show.

Speaker A:

Thank you for illuminating the path to unlocking opportunities and prosperity for us all or all.

Speaker A:

And to our world changing listeners, be sure to follow like and share the wisdom of women.

Speaker A:

Show on your favorite listening or viewing platform to infuse more wisdom into your business.

Speaker A:

Take the Growth Readiness Quiz quiz at a ForceForGood biz quiz and uncover where your wisdom is needed most.

Speaker A:

The world is made better by women led business.

Speaker A:

Let's all go make the world a better place.