The TalkX with Lolita Taub, the second talk of this edition of Explorer, began with a host already known to all the entrepreneurs in this community: Justine Guenver. She gave way to Lolita, who directs a company that invests in early-stage startups with the potential to become unicorns.
Her company is called Ganas Ventures. The story behind the name is pure inspiration: Lolita, the daughter of Mexican immigrants in Los Angeles, grew up without many resources, but her father always encouraged her with the phrase “échale ganas.“ “It means don’t give up, keep going for success – and keep going!” she explained, smiling, on Explorer’s Twitch channel — when asked what the best piece of advice she had ever been given was.
She revealed many more tips that could very well be in an entrepreneurship manual — and she dropped them most naturally in a fluid conversation with Justine. The latter, also an entrepreneur, talked about her experience and knew how to raise the right questions for Lolita to explain the change she wants to promote in the investment ecosystem: “I am very proud of what I have achieved, of where I am. But when you look at any venture capital fund, you see that it is 99% controlled by male investors; why are women so under-represented when they are so good at funding? It’s about employing more women and supporting diversity. I know it’s an uncomfortable conversation for many people, but if we want to change things, we have to have uncomfortable conversations,” she added.
“Women’s start-ups have a good chance of raising money. We are now taking advantage of accessing funds that Silicon Valley cannot access. When you build something, you want to open doors for others, and I want to see more women investors,” she stated.
The other side of the coin is Hustle Culture. This culture drags down every entrepreneur and affects women in particular: you have to work on your project continuously, without rest, to get it off the ground, to succeed. “Working at that pace is counterproductive. This is not a race. We can do everything, but not everything at the same time. I prefer to focus on better understanding my limits”, she said. In fact, Lolita explained to the TalkX audience that inspiration often came when she was focused on one of her hobbies or enjoying a moment of relaxation.
The focus was also on launching the product into the market and on how to find customers. “The future lies in going to the communities. You must know what you are selling, to whom, where, and how. Create a personal brand and don’t be afraid. Of course, it’s perfectly normal to be scared, but if there’s a passion for what you do, you’ll be able to reach the market. You’ll have that wonderful feeling of ‘I’m creating value.’ There’s a community you’re serving,” she said. Justine agreed: “There is always a community that appreciates your product; that’s where you find your potential customers.” What is the crucial tip at this stage? We must be transparent with our potential audience.
The TalkX with Lolita Taub ended up with the attendees’ questions via chat. Unfortunately, there were so many that there wasn’t enough time to answer them all, but here are the three best answers, which can serve as a starting point for a project:
Following the talk, Lolita had a private Q&A with select Explorers, who belong to the group running some of the most advanced projects in this edition. Each of them received customised answers to the questions asked by this exceptional investor. Do you want to join Explorer?
Yes, we are hosting another TalkX with Brian Brackeen, General Partner at Lightship Capital: if you attended the last one, you know why we’re looking forward to having him back as our guest. If you missed it, don’t make the same mistake this time!
“Hustle Culture is very real in the startup world, but working at that pace is counterproductive. This is not a race. We can do everything, but not everything simultaneously”. Phrases like this (worthy of becoming a mantra) were the ones that inspired the attendees at our TalkX with Lolita Taub. So what else did she tell us?
Why the MVP is no longer enough… and why you need to think about the MLP (Minimum Loveable Product).
