If you don’t know who she is, here is a little summary:
Michele Romanow is a Canadian tech entrepreneur, television personality, board director and venture capitalist. She co-founded SnapSaves, which was acquired by Groupon in June 2014. She Fo-Founded Buytopia.ca, a Canadian Deal site that was 3rd on Canada’s list of fastest growing companies! She is on the list of 100 Most Powerful Women in Canada and was named as one of the Forbes Top 20 Most Disruptive “Millennials on a Mission”. Michelle joined the cast of CBC’s Dragons’ Den in Season 10.”
The purpose of this article is to share some of Michele Romanow’s knowledge with those of you who could not attend the event. She gave some amazing answers, and I want to share them with you. So here we go!
“As all of us are trying to get our story out, and sharing our story, it’s always about having the most concise elevator pitch you could possibly have. I think most people would be surprised that sometimes people pitch me and they’re using acronyms that I don’t even know. I might be an investor, I might have seen 2000 pitches in my career, but I have no idea what you’re saying! Use language that everyone can understand before asking for money.”
“You just do it! You have to grind it out. It’s awesome because at a young age you can take a lot of risk, and live off of almost nothing. You have no family that you have to support, no mortgage, and not too many bills to pay. In terms of balancing it, you just have to figure it out and execute. Remember that most successes are the result of taking shots on goal. The most successful people have taken the most shots! I started 8 businesses and 6 of them failed. The other 2 are amazing success stories, but they were simply the result of continuously grinding!”
“All great innovation just comes from an extraordinary amount of iteration. It takes so many tries and experiments to build something great. You have to be good at creating, you can’t be disappointed when things don’t work out, you have to be constantly looking at the tiny thing that did work out and figure out how you double down on that. Great innovation did not start with someone dreaming up the shared economy. So if you’re taking away anything, it’s that the entrepreneurship field is, most of the time, 80% failure, and it is suppose to feel that way unfortunately. But you just have to be counting your shots on goal, because that’s ultimately what matters.”
Connect with Michele if her thoughts resonated with you. If you liked this post you can read more here