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Every week The Grindstone interviews an influential woman in the world of business. We scour our brains and hearts to come up with strong, successful women who not only inspire us, but will also inspire you. No industry is off limits, no interview subject too controversial.
When you think of social media pioneers, Tara Hunt should be one of the first names that comes to mind. This is a woman who managed to make online shopping even better. I know we didn’t think it was possible to make online shopping better but this woman did when she co-founded Buyosphere in 2010, an online tool to help people gather their buying history and use it for better shopping personalization. Fast Company called her one of the most influential women in technology and one of the 25 women-led startups to watch. She currently lives in Montreal with her dog and boyfriend. We were lucky enough to chat with her about taking her business to the next level, having a good partner and taking risks.
Did you picture yourself in a career like this growing up?
Not at all! I didn’t even know that being a startup founder was a career! Heck, I didn’t even know about startups growing up. I don’t want to show my age too much, but when I was growing up the Apple IIe and Atari were the only tech I was aware of. I didn’t get online until 1992. I discovered startup culture in the late 90′s. I only imagined myself as a startup founder in 2005.
What is the hardest thing about being an entrepreneur?
The hardest thing for me is that I don’t have a solid job description. Someone once asked me what a ‘day in the life’ of a startup CEO looks like and I answered, “Depends on the day.” Some days are filled with investor pitches and working on the business plan. Some days are filled with meetings with potential partners. Some days are filled with marketing planning and execution. Some days are filled with product development and refinement. Some days are filled with finding great people to hire. Most days are a combination of all of the above. I joked to my boyfriend that I need to make Buyosphere work because I don’t know what kind of job I’d be qualified for after all of this! I definitely couldn’t see myself in a structured role again.
How do you deal with the work life balance struggle?
I just have to understand that there is no balance. I’m really fortunate to have an amazing partner who understands this, too. I think it was Sheryl Sandberg, COO of Facebook, who said that having a great life partner was key to making the startup lifestyle happen. She is 100% right. I spend so much of my time and energy focused on taking my company to the next level (and then the next and then the next) that other things stop mattering as much. That being said, I know I need reboot time here and there to look at things with a clear perspective, so I force myself to take days off. Physical fitness is also time well spent. A good workout or run really helps refocus the mind.
What are some of your biggest challenges and how do you deal with them in your career?
Is it too macro to say, “building my business”? When you are building something from scratch, this challenge is constant. I don’t think there is ever a time a business owner can just sit back and say, “Done!” Every step of the build is different, too. It’s exciting and interesting, but it is also relentless.
Can you tell us about things you have done you considered to be a failure in your career and how you learned from them?
I have more failures than I can fit in one article, but I think the biggest one is my first business, Rogue Strategies, where I spent too much money in too many directions and ended up saddled with debt. I spent because things were going well, but I didn’t plan for that rainy day. When a crisis came out of nowhere I had no cushion. I’m a risk taker, but that lesson taught me to take calculated risks and keep a contingency plan.
As a manager, what is your strategy?
I only have one strategy: hire people who are smarter than me who I don’t have to manage…and then trust them. It hasn’t failed me yet. I’m the one everyone needs to manage.
Do you find being a woman works against you or for you?
Depends on the situation! Mostly I believe it works in my favor, but there are times when it is a barrier. The barrier exists because stereotypes exist. Many people don’t expect a woman to be technical or driven or focused. Of course, when I prove that I am all of the above, I get special treatment. The biases are a pain, but can work in our advantage, too.
What advice do you have for women who hope to get to your level?
Put yourself out there. Pitch. Make those calls. Own your accomplishments. Don’t back down. But do all of this on your own terms and with humility. Be open to feedback and be a sponge with everything around you.
Do you think having a mentor is important?
Absolutely. But I think having a champion is even more important. Having someone guide you will take you far, but having someone knock down some barriers for you at the same time they are guiding you will take you much further.
