Forty Eight. / The Newness Edition.
On New Beginnings, Value Beyond Capital, and Empowering Through New Kicks.
Hey, everybody.
It’s amazing what can change in half a year.
The last time I was writing an edition, I was starting a new role at Clearco, back from a lovely holiday in Antigua and Lake Atitlan, Guatemala, and there was a lot of optimism and hope.
Now, as I was writing this two weeks ago, I was on a ferry to Paros from Athens, Greece, women’s rights in the States in general are in serious jeopardy, and Clearco unceremoniously laid me off at the end of July.
While I ended up picking up the pieces in August and charged forward then and now to the next move, it’s been harder than ever to keep my eternal optimism these days. That being said, it reminded me of a saying:
It is easy to despair, but hard to act. You cannot control what happens, but you can control how you move forward.
It’s easy to talk up acting, though, which is why the next roles I’m searching for (along with working on finally launching my own fund - spoiler alert!) are dedicated to helping underserved communities with the capital, resources, and tools they need to help level the game versus more fortunate and, well, privileged communities.
In a perfect world, everyone truly has access to the same tools, but thanks to so many outside (and mostly man-made) factors, we deal with so many systemic inequalities, and it’s more important than ever to drive the path back towards equity and parity.
Here’s to the fighters.
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What are you currently working on?
So…about that fund…
You know what they say about putting your money where your mouth is. It’s also an interesting time where you can combine sustainable (and scalable) business models with effectively helping underserved communities. There’s a lot of fluff within the investment world in this space, and I look to change it.
Stay tuned.
What are you currently excited about?
The future of affordable and attainable capital (and resources) for all founders.
My time at Clearco gave me a new window into the different sources of capital that founders and small business owners, analyzing the various costs of capital and the benefits across each, from timeframe to real-time resources. Bank Debt, Venture Debt, Revenue-Based Financing, Lines of Credit, Revolvers, Factoring, and others give other ways beyond (or alongside) equity fundraising and mitigate dilution risk.
Are these options perfect? Of course not, but it further proves why over 30% of successful small businesses in the Fundable/Inc study grew through credit lines versus equity from VCs and/or angels.
The other issue also at hand is the idea of “value beyond capital,” where far too many investors either provide no real-time assistance to founders, or worse, promise all of these intros and connections and never follow through. No matter how much capital you are able to provide as an investor, you have an unofficial duty to help your founders where you can, because (a) we all have ways to help even when we think we do and (b) it only reacts positively regarding your fiduciary duty to Limited Partners.
You don’t have to be the biggest investor (or even an investor at that) to be the most helpful to founders and to the ecosystem.
Yes, this is a jab at people I know and/or worked with. Do your fucking job. 🙃
What’s a story or article that you're currently thinking about?
I’ve been a longtime sneakerhead and fan of the space ever since my first loved pair of kicks: The Air Zoom Citizen.
(Nike, if you’re reading this: RETRO THIS PAIR, PLEASE.)
In an era where sneakers surpassed dress shoes and heels as the top-selling footwear category, it’s been fun watching people curiously wade into the market and find a pair that suits their style and budget, and sometimes, their brand loyalty. It’s even more fun to help them through that discovery, which is why I’ve helped outfit a few Clearco employees during my days there!
(PS: If you’re looking for a new pair of kicks and are not sure where to go, hit me up. Happy to help! sumeetshahwork@gmail.com)
But this story by Hanif Abdurraqib, titled “This is an Essay About Sneakers,” nailed my mindset about my love for the category and the area I enjoy the most, nailed perfectly in these quotes:
I have found myself starting to imagine a love for sneakers as a communal activity, even if it’s just walking around a sneaker store with someone who has no intention of buying anything, but perhaps wants to see how some shoe looks on his feet. I think, as I get older, this is my way of working against all of the concepts I was fed about our passions being things we engage in as solitary acts, geared to keep people on the outside and keep ourselves as the authority.
Everyone has something precious that they hold close, until the time comes for them to excitedly show it to a person they deem worthy. With this in mind, I consider myself most in love with moments like these: where someone takes the time to show me what they care a great deal about. I work to replicate that in the most impractical and foolish ways: playing a YouTube video of an owl walking into a kitchen for a room of people, or playing over and over the same part in Fleetwood Mac’s “Tusk.” And now, putting a pair of sneakers in the mail for a friend who once told me that they loved sneakers, but didn’t know what pair would be right for them.
And now, giving small bursts of encouragement when a friend who has worn flats for years sends me a picture of them in Reebok high tops.
And now, holding in my hands a pair of sneakers I once imagined only precious to me, looking out and telling my people I would love to show you something.
What’s a product you’re currently obsessed with?
I recently read a piece in MR PORTER about (and started implementing) a new rule on buying clothing and keeping a wardrobe: The Four-Three-Two-One Rule.
Four Years: Can you picture yourself wearing this article of clothing in 4 years?
Three Outfits: Can you create at least 3 outfits with this article of clothing?
Two Breaths: Before considering buying it, take 2 deep breaths. Buy it if you feel better afterwards.
One Night: Sleep on it. If you still can’t get that item off your mind the next morning, then go for it!
(And yes, before anyone asks, I have applied this rule to all of my sneakers. It helped me get rid of about 5 pairs.)
But this rule applies the most to one of my treasured items: The Imogene + Willie Jack Jacket in Indigo Blue. There are “security blanket” articles of clothing where we just. Can’t. Stop. Wearing them. And this jacket that basically goes on as soon as the temperature drops below 70 degrees Fahrenheit, much to Nitasha’s chagrin.
I highly recommend anyone looking for a good transitional jacket to just stop shopping and buy this (and honestly everything else from this incredible Nashville-based apparel brand).
(I+W team, if you’re reading this, I’m available for modeling/sponsorship opportunities!)
Wild Card: What’s an item you can’t shake your mind off of?
Team dynamics and chemistry matter, and they matter even more than ever these days of the “Great Resignation,” and an unpredictable market environment. No matter where you work at, if you have an incredible team (from your manager to your colleagues), it makes such a bigger and better difference.
We all can make our work ecosystems better by being more authentic, respectful, and approachable to our teammates. It’s arguably more important as managers to do the same, but also learn how to manage up regardless of status within the company.
Bonus: Everybody wins this way.
"Reputation Is What People Think Of You. Character Is What You Are."
- Oxford, The King’s Man
~ C O L O P H O N ~
Please send all feedback, both positive and negative, to sumeetshahwork@gmail.com as this project continues to evolve.
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