Tracy Young, founder of PlanGrid and TigerEye, discusses her background as a construction engineer and the creation of PlanGrid to digitize construction records. She also emphasizes the importance of discussing the experiences of female founders. Being a female founder presents challenges due to biases and societal expectations, but it offers the opportunity to be one's own boss and create something better. The different reactions of male and female leaders to situations are explored, with women tending to be unkind to themselves and prioritize taking care of others over themselves. Strategies for coping with negative emotions and finding one's own happy place are discussed. The highs and lows of being a founder are explored, including the impact of cultural values on work and motherhood. The underlying emotion driving first-time founders is fear of not being seen as capable leaders due to societal biases against women. Balancing work and parenthood as an entrepreneur is challenging but possible with a strong support structure. Being a founder while breastfeeding presents challenges that require strategic planning and scheduling. The importance of discussing personal matters with investors and being authentic is emphasized. The founders prioritize core values and commitments in their new company and offer advice on managing time with kids and fundraising. Founding a company with a partner can work with clear responsibilities and effective decision-making. The qualities to look for in female executives include raw horsepower, problem-solving skills, awareness, communication skills, low ego, humility, and raw potential and talent. Business books are not found helpful, but poetry and epic fantasies are recommended for personal enjoyment and escapism. Building a startup requires perseverance, and fostering entrepreneurship in children is important.
Intro
Tracy Young, founder of PlanGrid and TigerEye, shares her background as a construction engineer and the problem she aimed to solve. She started PlanGrid to digitize construction records and later founded TigerEye. Tracy also addresses the necessity of discussing the experiences of female founders.
Key points:
- Tracy Young's background as a construction engineer and her motivation to solve industry problems
- The creation of PlanGrid to digitize construction records
- The founding of TigerEye
- The importance of discussing the experiences of female founders
What's It Feels to Be a Female Founder
Being a female founder is a challenging experience, as women face biases and societal expectations. Key points include:
- Women are often labeled as bossy or aggressive, while societal expectations pressure them to be smaller and softer.
- Female founders receive a low percentage of venture capitalist funding, highlighting the need for change and activism.
- It is important to increase the representation of women in entrepreneurship and create examples of success for other women.
- Regardless of background or education, anyone can become a successful founder.
- Being a female founder offers the opportunity to be one's own boss and create something better.
Male vs Female Leader Reaction to a Situation
The different reactions of male and female leaders to a situation where an executive leaves their laptop and keys on their desk and walks away are discussed. Surbhi Sarna, a female founder, shares her personal experience of blaming herself and feeling internal pressure in such situations. Tracy Young, a male founder, reflects on how he used to blame himself but has learned to catch himself faster and prioritize self-love. Women tend to be unkind to themselves and prioritize taking care of others over themselves. Possible reasons for this behavior include societal teachings and biological factors. The negative impact of social media on young girls is also mentioned. Surbhi Sarna, as a second-time founder, reflects on how she still beats herself up but catches it sooner compared to her first time as a founder.
How to Stop Being a Woman
- Controlling the duration of negative emotions is important in stopping being a woman
- Ways to cope with negative emotions include crying, going to a happy place, and engaging in joyful activities
- Self-care and finding one's own happy place are emphasized
High and Lows
The highs and lows of being a founder are explored in this video. The speakers share personal experiences, including the highest high of discovering pregnancy and the lowest low of feeling like a bad leader. They discuss challenges faced in their businesses, such as cultural issues and the need for changes in engineering and product management. Embracing turbulence and making necessary changes are highlighted as crucial for success.
Cultural values
The most profound aspect of the topic of cultural values is the impact it has on work and motherhood.
Key points:
- Defining cultural values within companies affects team dynamics
- Personal experiences, such as becoming a mother while running a company, shape cultural values
- The speaker shares her experience of being pregnant and attending a user conference as a CEO
- Initially, she feared judgment as a mother and insisted on being physically present for her keynote
- In hindsight, she realizes her fear was unfounded and would have prioritized her health instead.
Underlying emotion - Feeling fear
The underlying emotion driving first-time founders to make decisions despite fear is the fear of not being seen as capable leaders due to societal biases against women. They want to prove that they can succeed even while going through significant life changes. However, this mindset can put their health and the health of their babies at risk. Good leadership involves allowing the team to take care of things while taking time for personal life changes.
Key points:
- Fear of not being seen as capable leaders due to societal biases against women drives first-time founders to make decisions.
- First-time founders want to prove that they can succeed even while going through significant life changes.
- This mindset can put their health and the health of their babies at risk.
- Good leadership involves allowing the team to take care of things while taking time for personal life changes.
The topic of the video is the underlying emotion of fear. The speakers use the analogy of a fully baked baby ready to come out to describe the intensity of fear. They mention that fear is often overlooked when one is constantly busy or distracted.
Starting a Family
Starting a Family: Balancing Work and Parenthood as an Entrepreneur
- Founders face pressure to prove themselves and unconscious bias when considering starting a family.
- Regrets about prioritizing work over starting a family are discussed.
- Being a founder and a parent is challenging but possible with a strong support structure.
- Surrounding oneself with supportive people during maternity leave is advised.
- Supportive teammates who understand the challenges of balancing work and family are crucial.
- Having a society that supports and takes care of newborns when mothers are unable to is important.
Being a Founder While Breastfeeding
Being a founder while breastfeeding presents challenges and implications that require strategic planning and scheduling. Key points include:
- Difficulties of breastfeeding, such as cracked nipples and mastitis
- The importance of supporting women's choices regarding breastfeeding
- Impact on business due to the need for frequent breastfeeding or pumping
- Need for better scheduling and strategic planning to accommodate breastfeeding while managing work
- Anecdotes of trying to pump milk in unconventional places and the embarrassment felt.
Discussing Personal Matters with Investors
Discussing Personal Matters with Investors
- The importance of being authentic and owning up to personal situations
- The perception of balancing personal and professional responsibilities as a strength
- Hope for investors to see personal situations as a strength rather than a weakness
- Example of a successful female founder managing both personal and professional life during fundraising process
What Are You Doing Different For Your Next Company?
The founders emphasize the importance of core values and commitments in their new company. They prioritize culture and accountability to maintain a positive work environment.
Q&A - Manage Time With Kids
Managing time with kids while running a startup requires a consistent schedule for meals, naps, and bedtime to create uninterrupted work time. Protecting family time and being deliberate about scheduling, even if it means being inflexible, is crucial. Prioritizing children and protecting time while enjoying work is key.
- Consistent schedule for meals, naps, and bedtime creates uninterrupted work time
- Protecting family time and being deliberate about scheduling is crucial
- Prioritizing children and protecting time while enjoying work is key
Fundraising Advice
Fundraising Advice:
- Don't worry about statistics and biases against women in fundraising
- Focus on the business and the problem being solved, not gender
- Assess if biases exist in the room, but don't let it consume mental and emotional energy
- Time box fundraising efforts
- Build a strong business
- Cast a wide net when pitching to increase chances of getting a term sheet
- Learn from rejections and use them as motivation to succeed
- Don't waste time on investors who don't offer a term sheet immediately
Start a Company With Partner
Founding a company with your partner can be challenging, but it can work with clear responsibilities and effective decision-making. To find a woman co-founder, engage in problem-solving conversations within various communities.
What Do I Look For In Female Execs?
What Do I Look For In Female Execs?
- Raw horsepower
- Problem-solving skills
- Awareness
- Communication skills
- Low ego
- Humility
- Raw potential and talent
- Active listening
- Paying attention to body language
- Understanding humility and intentions quickly
Books
- Founders do not find business books helpful and prefer poetry and epic fantasies for personal enjoyment and escapism.
- They recommend "Thrive" by Ariana Huffington and "10% Happier" for practical tips on quieting the mind, time management, and meditation.
- These books are considered useful for founders.
Last Thoughts
Building a startup requires perseverance and comes with challenges and ups and downs. Fostering entrepreneurship in children is important, as is finding passion and happiness in whatever path they choose.
- Challenges and ups and downs of building a startup
- Importance of perseverance
- Fostering entrepreneurship in children
- Importance of passion and happiness in chosen path