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Brit + Co is killin’ the DIY game as told by a $15M round of funding

(ENTREPRENEUR) Brit + Co. is a real-life Pinterest board and DIY empire out of San Francisco, CA that just received a huge round of funding.

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cha-ching

Brit + Co, the digital media startup founded by Brit Morin, has announced a new $15 million funding round, led by Verizon Ventures.

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The announcement also includes Jeff Jones, former Uber president and Chief Marketing Officer at Target, coming on at the company as an advisor.

Brit + Co

Brit + Co is based out of San Francisco, though some of the 100+ employees work out of a satellite office in New York, or remotely from around the country. Brit Morin said that the online startup is designed to be “the magazine version of Pinterest.” If that sounds like your nightmare coming to life and engulfing you with unattainable standards of beauty and DIY-ness, Brit + Co probably isn’t for you.

But for those of us eager to learn new creative skills, and support those that are living their passions, the magazine is an ideal hub for all things DIY.

Brit + Co’s digital content targets women, and the idea is to work towards “enabling these women to live more creatively across every category of their lives,” said Morin.

And if you’re picturing handmade jewelry and antiqued furniture, you’re thinking small (even though those things are super cool!).

The brand offers paid video tutorials, which cost between $20 and $50 for each online class, that cover everything from “calligraphy, coding, and how to start a business,” says Morin.

Dreamers and doers

This refreshingly broad definition of DIY, and of that elusive “creativity,” is part of what sets the startup apart from other DIY hubs. Creatives aren’t just visual artists and artisans – they’re people who use their brains to create awesome things, whether it’s an efficient script in Python or a whole new business.

Entrepreneurs are large-scale DIYers, and it’s about time for that definition to expand.

Brit + Co plans to use the new funding to add more video tutorials, and to build out the branded merchandise part of the business: a partnership with Target allows the startup to sell DIY kits online and in Target stores. Kits include “Learn to Embroider” and a DIY “Wood Burned Cutting Board” – we’re still waiting for that “Build a Business” kit.

Almost there

Morin says the Target merchandise has brought the startup tantalizingly close to profitability, a milestone she anticipates they’ll hit in a year or two. With 125 million monthly unique visitors, they’re certainly on track for success.

#Brit+Co

Staff Writer, Natalie Bradford earned her B.A. in English from Cornell University and spends a lot of time convincing herself not to bake MORE brownies. She enjoys cats, cocktails, and good films - preferably together. She is currently working on a collection of short stories.

Business Entrepreneur

How to choose the right software for your business

(BUSINESS ENTREPRENEUR) What are the best software products for your up-and-coming company? Use these questions to decide which kind is best for you.

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It’s almost impossible to run a successful modern business without some kind of software to help you stay productive and operate efficiently. There are millions of companies and even more independent developers working hard to produce new software products and services for the businesses of the world, so to say that choosing the right software is intimidating is putting it lightly.

Fortunately, your decisions will become much easier with a handful of decision-making rubrics.

Determining Your Core Needs

First, you need to decide which types of software you really need. For most businesses, these are the most fundamental categories:

  • Proposal software. Customer acquisition starts and ends with effective proposals, which is why you need proposal software that helps you create, send, and track the status of your sales documents.
  • Lead generation and sales. You’ll also want the support of lead generation and sales software, including customer relationship management (CRM) platforms. These help you identify and track prospects throughout the sales process.
  • Marketing and advertising. Marketing and advertising platforms help you plan and implement your campaigns, but even more importantly—they help you track your results.
  • Finance and accounting. With finance and accounting software, you’ll track accounts payable and receivable, and countless variables influencing the financial health of your company.
  • Supply chain and logistics. Certain types of businesses require support when it comes to supply chain management and logistics—and software can help.
  • Productivity and tracking. Some software products, including time trackers and project management platforms, focus on improving productivity and tracking employee actions.
  • Comprehensive analytics. Enterprise resource planning (ERP) software and other “big picture” software products attempt to provide you with comprehensive analytics related to your business’s performance.

Key Factors to Consider

From there, you’ll need to choose a software product in each necessary category—or try to find one that covers all categories simultaneously. When reviewing the thousands (if not millions) of viable options, keep these factors in mind:

    • Core features/functionality. Similar products in a given niche can have radically different sets of features. It’s tempting to go with the most robust product in all cases, but superfluous features and functionality can present their own kind of problem.
    • Integrations. If you use a number of different software products, you’ll need some way to get them to work together. Prioritize products that make it easy to integrate with others—especially ones you’re already using.
    • Intuitiveness/learnability. Software should be intuitive and easy to learn. Not only will this cut down on the amount of training and education you have to provide employees, but it will also reduce the possibilities of platform misuse in the future.
    • Customizability/flexibility. Out-of-the-box software products work well for many customers, but they may not suit your current or future needs precisely. Platforms with greater customizability and flexibility are favorable.
    • Security. If you’re handling sensitive data (and most businesses will be), it’s vital to have a software developed with security in mind. There should be multiple layers of security in place, and ample settings for you to tightly control accessibility.
    • Ongoing developer support. Your chosen software might be impressive today, but how is it going to look in three years? It’s ideal to choose a product that features ongoing developer support, with the potential for more features and better functionality in the near and distant future.
    • Customer support. If you have an issue with the app, will someone be available to help you? Good customer service can elevate the value of otherwise average apps.
    • Price. Finally, you’ll need to consider price. The best apps will often have a price that matches their quality; it’s up to you to decide whether the extra expense is worth it.

Read about each product as you conduct your research, and pay close attention to reviews and testimonials from past customers. Additionally, most software companies are happy to offer free demos and trials, so you can get some firsthand experience before finalizing your decision. Take them up on the offer.

Finding the Balance

It may seem like purchasing or subscribing to new software products will always improve your business fundamentals, but this isn’t always the case. If you become bogged down with too many apps and services, it’s going to make operations more confusing for your staff, decrease consistency, and drain your budget dry at the same time. Instead, try to keep your systems as simplified and straightforward as possible, while still getting all the services you need.

You won’t find or implement the perfect suite of software products for your business overnight. It’s going to take weeks, if not months of research, free trials, and in-house experiments. Remain patient, and don’t be afraid to cut your losses on products that aren’t working the way you originally intended.

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Business Entrepreneur

This app lets you swipe right on the co-founder of your dreams

(BUSINESS ENTREPRENEUR) It’s said that business can be a lot like dating – and Tertle is taking advantage of that to find you a vetted, high-quality co-founder with a few swipes.

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Two men standing in meeting room with others, shaking hands as they agree to be co-founder together.

Much like there is a dating app for every romantic match possible, there is now a way to match with your ideal co-founder. And the name will help you ease out of your shell when connecting with your new partner.

Tertle is a new online app that helps you find the co-founder that best suits your needs. According to developers, “Tertle sends you frequent, vetted, high-quality co-founder matches via email or WhatsApp based on things that matter to you – giving you precious time back and putting an end to endless profile crawling.”

So how does it work? Like any other matching app, you first start by creating your profile. Tell Tertle a little bit more about you and what you’re looking for in a co-founder.

Next comes the vetted matching. Tertle will match you up based on things you both care about – like your skill sets, location, values, and interests. Finally, you connect and chat. Receive weekly 1:1 video chat calendar invitations at a time that suits you.

When answering why Tertle was founded, developers wrote, “We, like you, are startup fanatics. Finding the right co-founders is one of the most important decisions you’ll ever make in pursuit of a successful venture. We think there’s nothing currently out there that really hits the mark in helping like-minded co-founders easily connect—and so, Tertle hatched.”

As a reviewer pointed out on Product Hunt, the safest (and most heard about) route when selecting a co-founder is to choose someone you went to college with or have a long-standing relationship with. However, this may not always be an option and so it’s nice to have a little help from profile-matching algorithms.

Tertle developer Ryan Connaughton appreciated the Product Hunt feedback and expressed the following, “In terms of the algorithm, I’ve been matching people manually to test the waters while also working on a simple algorithm as MVP (what skillsets they’re looking for and location IF thats also important to them).

Following an MVP, my thinking is I can vet harder with more in-depth data collection (personality types, values, problems spaces of interest, etc). Of-course this will require a much deeper user-research/spike piece first before I can get to the right solution.

In addition, there can only be so much ‘filtering/vetting’ you can do before you have to get some hard validation that this is the right person – that being, actually working together. So assuming that I can get the prerequisites above right and there’s interest, I think there’s then potential of guided mini-hackathon style projects or some kind of ‘trials’.

Worst case scenario: You meet someone new, learn some stuff, give each other feedback for you to grow and have fun building something. Best case scenario: All of the above, plus the problem/solution holds water and/or you form a continued lasting relationship.”

The site boasts being free to beta users forever; so, if you’re on the hunt for a co-founder, it may be worth it to join the waitlist and see what’s out there.

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Business Entrepreneur

How can a small business beat a large competitor moving in next door?

(BUSINESS ENTREPRENEUR) How do you stand out when a big competitor moves to your neighborhood? Reddit has a few suggestions – some obvious, some not so much.

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Small businesses, especially restaurants have been hit hard by lockdowns. Many closed for good this year, and those that are still hanging on are in a precarious position as their local economies shift.

Last week, a user on r/smallbusiness asked a timeless question that is especially relevant right now. Reddit user longbottomjr writes: “We have a strong competitor moving in next door in a few months. Our restaurant is one that pays the bills but […] I feel that if this new competitor takes up enough market share we will lose our restaurant. Can anyone chime in with resources/ideas I can use to help put together our plan of action?”

Comments quickly pointed out what common sense would dictate.

First, ensure the basics are covered. Being clean, quick, friendly, and high quality will take you far, no matter what competition you’re up against. And as u/horsemullet said, “Customer service also happens before someone walks through the door!” So make sure that your online hours, contact info, menus and social media accounts are up to date and accurate.

Another point emerged that is less intuitive: Competing businesses will naturally gravitate towards similar locations. This is a well-established phenomenon known within game theory as Nash’s Equilibrium. In the restaurant industry, this is actually a good thing. It brings entirely new customers to the area and ultimately benefits all the other nearby businesses, too.

Take advantage of the attention by offering something other spots don’t, like loyalty rewards, specials, unique offerings, or meal deals.

Speaking of the area, a great way to stand out from larger competitors is to build relationships with the community you serve, as u/sugarface2134 emphasized. “In my city there are two Italian restaurants in the same location – just across the parking lot from each other. We always pick the smaller one because the owner truly makes you feel like a member of the family.”

That’s an advantage of being a small, local business that all the money in the world couldn’t buy. Get to know your customers personally and you will not only create loyal regulars, but friends as well.

One of the top rated responses, from u/seefooddiet2200, made an often overlooked but critically important point.

“Talk to your staff and see if they have any ideas. These are the people that are working every single day and may know one or two ‘annoying’ things that if they were switched would make things easier. Or maybe they see that there’s specific things people ask for that you don’t serve. Every single [one] of your employees is a gold mine of insight, you just need to be open to listening to them.”

That is applicable to any business owner who wants to improve their practices.

Ask employees what they think, especially the ones who have stuck around a long time. Not only do they know the ins-and-outs of their jobs, but this builds rapport and trust with your staff. A good boss realizes that employees are more than their job descriptions. They have valuable thoughts about what’s working and not working, and direct access to customer’s opinions.

Good luck, u/longbottomjr! We’ll be rooting for you.

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