Masters of Ventures: A Portrait of Two T-bird Entrepreneurial Women


VentureArchetypes

What does the face of a successful T-bird look like? Take a look at the histories of these two driven, and forward thinking women and you will have your answer.

Susan Boedy, T-bird alumna and principal owner of VentureArchetypes can tell you along with Brita Moeller, Senior Consultant, to the San Francisco-based boutique consulting firm that many risks are involved to become successful entrepreneurs, but the payoffs can be tremendous.

What is VentureArchetypes?

VentureArchetypes is a business planning, corporate development, and strategic advisory boutique that works with emerging technology and life science companies. They help startups develop compelling investor materials and formulate appropriate capital-raise strategies. Through rigorous strategic planning and proprietary analytical techniques, they provide critical guidance along the way. Their mission is to help create the next generation of Silicon Valley success stories.

They have expertly advised more than forty emerging growth companies in a wide variety of strategic capacities. From idea, to launch, to growth and expansion, their services create tangible value-add. With an extensive client and referral list as a testament to the quality of their work, VentureArchetypes' Principals bring to every engagement the advantages of insight and experience.

They use proven analytical methodologies and proprietary, research-intensive processes. Therefore making VentureArchetypes a uniquely qualified group of individuals who help entrepreneurs achieve their business planning, growth and funding goals.

VentureArchetypes is approaching a very exciting time, where in conjunction with their normal day-to-day activities of advising others to grow their businesses; they are now addressing this growth themselves. To reach even more customers, they have expanded from Silicon Valley to position themselves in New York, as a gateway for East-West deal flow, The new office will service clients and investors on the East Coast and in Europe who are seeking access to the environment that makes Silicon Valley the number one region for start-ups.

The People behind VentureArchetypes

The business is co-owned and managed by Nathan Beckord and Susan Boedy (T-bird '02), and has recently added Brita Moeller (T-bird '02) to develop their New York office.

Both alumnae shared their thoughts on the challenges and rewards of being an entrepreneur as well as the future of VentureArchetypes.

1. Was it anything at Thunderbird that led you to make the decision to work with Venture Archetypes, and if so what were those aspects?

Susan: Both in and out of the classroom at Thunderbird, I learned what kind of leader I am and where I thrive best. Some people like to create new opportunities, organizations and structures while others like to walk into existing challenges/ organizations and fix them. As co-founder of the Thunderbird Graduate Women in Business Organization as well as a variety of other organizations and events I've developed, I grew to understand that I'm an entrepreneur at heart—I like to create new entities and opportunities to fill unmet needs. Co-owning and managing VentureArchetypes allows me to not only run my own business but to also help other entrepreneurs start and run their own.

Brita: It is directly because of my relationship with Susan that I started working with VentureArchetypes. We were in the same cohort at Thunderbird, worked on different projects together, became friends, and eventually roommates. Business is built on relationships and trust. This is especially true in start-ups, where the idea or concept may be unproven, but there is a talented management team working hard to make things happen. It takes an element of faith and trust in the people behind the concept to want to get involved in a project. This is the same reason investors look for a stellar management team before committing any capital. Knowing Susan's track record from business school, and meeting Nathan, her business partner, made it easy to visualize a successful venture. I wanted to be part of the team.

2. Can you outline the steps that got you were you are today, with an emphasis on transitioning from student to entrepreneur?

Brita: I think being an entrepreneur is more of a state of mind than anything else. I think you see the world differently; you're an opportunist and always trying to think of a way to solve problems. I was like this before I went to business school. At Thunderbird, I was involved with the Thunderbird Graduate Women in Business Organization and started the "GWIB Golf clinics" that introduced students to the fundamentals of the game in an affordable way. After business school, I had a hard time trying to fit into the corporate job routine, and found the "red tape" of a large bureaucracy frustrating. I remember having ideas and trying to push them through the approval process before the work could even begin, and I would get really impatient. Being an entrepreneur, life moves at a faster pace, and you have to be comfortable with risk, uncertainty and instability. But the reward is that you feel more in control. Also, you have to be passionate about what you do to carry you through the difficult times. It is not the easiest road to take.

3. What were the biggest challenges along that continuum?

Susan: Some of the biggest challenges I faced (and continue to face) as an entrepreneur include: a) time management; b) creating new opportunities; c) self-motivation; and d) growing comfortable with the financial risks. Business opportunities must be sought and conquered when you run your own business such as new deals and strategic partnerships. When working for giants such as the UN, Intel and Roland Berger, I was pushed by other team members as well as the internal organizational structure to succeed. I filled a specific role within a larger entity that not only protected me but also led me through each day.

Entrepreneurs are a special breed of risk takers. Many of our clients don't even see the kinds of risks they're taking as compared to someone who stays in a "safe" job with a regular paycheck. At times, I've thought about how nice it would be to not worry about where the next client was coming from and when the next check was coming in. However, when I experience success with a client and receive my check, I feel complete ownership and pride. I've absolutely earned it and I've loved it. It drives me to keep growing our business and increasing our client base.

Today, we're in the middle of creating an organizational structure and building a team from the ground up. Everyday I wake up I am responsible for planning my day. Although my business partner and new colleagues rely on me, I am responsible for creating my own structure and work plan. In addition, unlike working for a large firm, every success and failure is my own—I have no big name to hide behind. My company is an absolute reflection of me.

Brita: I think the greatest gift and the greatest challenge are nearly the same thing: you can see the direct results of your work, the good and the bad. An entrepreneur carries so much responsibility, so much influence in the creation process- it is a reason why you want to be an entrepreneur. At the same time, there is no safety net. On a good day, you can see great potential in everything you do and project it out into the future. Most days are good days. But sometimes you get that little moment of self-doubt, and your mind starts racing, and you think, "what if…", but you have to keep pushing on. Having a good team makes those difficult moments a lot easier.

4. What did you learn about confronting those challenges and resolving them?

Brita: I think communicating with the team keeps you focused and helps you grow as a person, and as a business. Something I learned while at Thunderbird was to create your personal "board of directors". Professionally, you surround yourself with people who can provide advice and guidance, who have an outsider's perspective, but an internal connection. These advisors want to see you succeed. A lot of our clients face similar issues, they have the technology, or new product, and they know they need to get to the next level, which requires funding, but they need some guidance on how to get there. We believe in our clients and we want to help them succeed. We are also very passionate about our clients and the work they do. I think there is sometimes a misconception of an entrepreneur out there, on his or her own, making it happen, but the reality is that it takes a team to get it all done.

5. Where did you find the capital to get involved in your ventures?

Susan: VentureArchetypes is funded through successful sales efforts—cash flow through new clients supports our venture. Unlike the startups we advise who are raising capital (angel, VC, strategic investment), we are a service provider to both startups and investors with success based on the number of deals we close.

6. Is there a particular area that you need to develop to overcome the challenges you have been addressing. Do you recommend anything that students and Thunderbird should focus on learning/teaching?

Brita: In 2002, I was fortunate to be a teaching assistant for the late Paul Johnson, Distinguished Professor of Entrepreneurship, during his Winterim course: the "Entrepreneurial CEO/Founders Seminar". In this class, we had the unique opportunity to hear 15 entrepreneurs speak about their real life experiences, their successes and failures along the way. They were completely honest with us, how it can be a difficult and uncertain road. I remember one speaker saying he failed 7 times before he finally made it. Sam Garvin talked about how he worked out of the trunk of his car, and I remember thinking, "Now that is dedication!" Being an entrepreneur means foregoing the thought of a cushy corner office, free coffee, champagne Christmas parties, or at least for the present. Right now, if my computer has problems, there is no IT department to call up. I am the IT department! I think the best way to learn about being an entrepreneur is to talk to as many as you can, to hear their stories, to hear how they faced and overcame challenges. I hope that Thunderbird continues Paul Johnson's course, as it was inspiring, and had a significant impact on my motivation to be an entrepreneur.

7. What is exciting for you today? Can you elaborate on your new endeavor?

Susan: VentureArchetypes is in high growth mode (the "hockey stick" analogy discussed in venture classes). The quality and quantity of our deal flow has grown substantially in the last 3-6 months from both entrepreneurs and investors seeking capital. We're increasing both our product and service offerings as well as adding to our team. We opened our New York office at the end of the summer and have additional experts on our team located in Silicon Valley.

Our product and service offerings directly address investors' increased expectations of entrepreneurs seeking capital from them. They want to see a solid business plan, efficient cash management, confirmed orders (from customers), and market validation. In addition, more VC funds are raising new funds. Thus far, timing has played a significant role in our success. Although cautious, the investment environment is definitely on the upswing in Silicon Valley.

Brita: My role is to develop the New York office of VentureArchetypes, and to reach out to East Coast investors and entrepreneurs with our services, and to build quality deal flow. We have such an incredible team in San Francisco that is it fun to be part of the momentum. I am excited to be on the ground floor of this organization and to be part of the decision-making that will grow this company and make it successful. I like working with such smart team players, like Nathan and Susan, and learning from their experiences. I like that they value what I bring to the team in terms of my experience and skills. It is a different feeling that just going to work everyday, it is like you are living your work and that everything you do has tremendous impact and value, not only on our clients, but on our company.

8. What is the strategy for Venture Archetypes and what is your future focus?

Susan: We view a business plan as a living, breathing document that works as the roadmap for a business, evolving with business growth. As a firm focused on business planning, we must practice what we preach. We are about to enter into our own business planning retreat to address emerging trends in our market and our own future growth strategy. Overall, our company will expand by providing the corporate development services needed to grow the next generation of Silicon Valley success stories.

Brita: We need to strike the right balance between growing fast vs. growing in the right direction. We want to be thinking a few steps out in front of where we are today, and the business plan and management retreat is an integral part of that strategic process. Every day we help our clients with strategic decisions, and it is essential that we apply our own talents and methodology to our own company.

To learn more about VentureArchetypes go to: www.venturearchetypes.com