To find out some answers to these questions, Digital Journal spoke with Rayne Guest, founder and CEO of R-Water. Guest is among the ranks of women leaders in tech and she is one of the only female entrepreneurs in the disinfection and cleaning sector. She led her company through the formative first years and achieved success by tackling any obstacle that came her way.
To help others do the same, Guest outlines as series of important points to ensure more women rise to the top of the tech tree.
Raise capital on your own terms
For her first tip, Guest says: “Rather than accept VC money that might stifle your voice and vision, consider Promissory Notes that will convert to equity when pre-determined goals are reached. The benefit is two-fold, you’ll be able to get further along before giving up any portion of your company and you can also accept small investments from individuals who see value in your cause. Had Rayne gone down the traditional VC funding path, her technology would be sitting on a shelf during a global pandemic”
There ain’t no shame in the bootstrap game
With this second topic, Guest explains: “Whether it means taking in a roommate, wearing hand me down clothes, or enlisting the help of a founding team with specialized qualifications like engineering and legal – short-term sacrifices can go a long way in getting your business off the ground. Also, identify your biggest expenses and get creative. During Rayne’s first year in business, her landlord accepted a $100,000 Promissory Note in exchange for the comparable months of rent.”
Outsource
With her third area, Guest recommends: “Establishing a manufacturing company and sales team is tedious, expensive, and time consuming. There are companies out there that have done it for longer, have learned from their mistakes, and are in business for a reason. Find one that fits, and partner with them”
Don’t get caught in networking traps
For the fourth recommendation, Guest advises: “As an entrepreneur, time is one of your most valuable assets. If legitimate business does not result after three networking events, cross the group off your calendar. The same applies to individuals, especially when the male/female dynamic is involved.”
Prove them wrong
Resilience is key, says Guest, noting: “Malcolm Gladwell has pointed out that humans make 2,000 assumptions in the blink of an eye and studies show that women are often judged more harshly than men. Be confident in your ability, your intelligence, and your appearance and use it all to your advantage.”
Listen to what the universe is saying
For her final tip, Guest terms to intuition, offering: “Is your gut telling you to walk across the room and have a conversation with someone? Do you feel like you should push your flight by a day? Wherever you may be, let the tugs guide you. You may be surprised who the universe is trying to bring into your life.”
