how would your team describe your leadership style?
my team would definitely say that I am direct and demanding, setting the bar high for myself and others; but I’m compassionate, open, energetic and mission-driven. I wouldn’t say my hiring style has changed from banking to luminary, but I had to hire a team with completely different skill sets and backgrounds. when I look at the team we’ve built, I know we have something special.
you’re a seasoned finance professional, but first time self-funded CEO; can you share a few things that expectedly, or unexpectedly, challenged you with this career change and how you navigated them?
self-funded or not, being a first-time entrepreneur is a roller coaster. the highs are super high, and the lows are super low; it’s hard to navigate the challenges most of the time to be honest. as a self-funder, I focus on execution and acceleration of results to cash flow positive, so I need to be laser-focused on revenue and expenses. I think whether you self-fund, you raise or you leverage various loan options, it’s still a ton of pressure, but that’s also what makes the success matter that much more.
what has challenged me the most is that roller coaster and the lack of infrastructure that I relied on more than I realized working for a big bank. on the positive side, I was pleasantly surprised by the number of women, especially entrepreneurs, that have reached out to see how they can help. it’s really inspiring but I still feel there needs to be a support group for female-founders. maybe I’ll create one at luminary! want to join?
can you talk to us about your decision to self-fund vs. raise money? were there different funding avenues you explored or did you always know you wanted to self-fund?
frankly, I never really explored other options. I knew that if I wanted to open luminary in less than a year, I wouldn’t be able to fundraise. It’s a long process and as we are all aware, women get less than 2% of venture capital funding. I’ve been working with and supporting initiatives focused on gender equality for many years and I wanted to walk the walk and put my money where my mouth was. not everyone can self-fund, but I had saved a good amount from my banking days and wanted to invest in this company. I continue to look at funding options and leave the door open as the business grows.
what do you consider your best pinch-me moment?
the day we had our launch party, our furniture arrived at 8:30am (161 pieces of furniture, 3 weeks late from Asia and elevator out of commission). the entire team and then some pulled together, and we kicked off our launch party at 6pm. I couldn’t believe we did it, but then again, I knew we would. that day I received flowers from someone special and the note said, “never a doubt.” I think that was my pinch-me moment that we had done it – in less than 8 months.
is there a female founder you view as a mentor?
there have been so many, but I will say the co-founders of The Second Shift, Gina Hadley and Jenny Galluzzo. they have been incredible – the advice, support, introductions to other female founders and just “get it done” attitude. I also recently met Michelle Cordeiro Grant at LIVELY and we just clicked; the idea generation, brainstorming on how to collaborate and reciprocity around introductions has been fantastic. honestly, we have several female-founders that are luminary members and they all inspire me!
editor’s note: check out our february issue if you missed our february spotlight on michelle cordeiro grant! and yes, thank you for asking, our pinch me moment is when worlds collide and founders we adore meet and click with each other – and invite us to sit at their table.
we ask every founder we meet this question, because it’s always a good story! how did you come up with the name for luminary?
after dozens and dozens of names on poster board, i checked my linkedin and had a message from a former colleague whom i didn’t know. he said that he hoped i was well and even though we had never met, he saw me as a luminary for so many. i actually googled it because i knew it meant light but when i read the definition: “a person who inspires others, a guiding light, a role model, an influencer, a leader, a legend, a heroine”, i knew. i wanted to build a community of luminaries.