Designing Successful Startups The Grommet Founder Jules Pieri’s Philosophy of the Power of Saying Yes
Summary
Jules, the founder of The Grommet, shares her journey from growing up in Detroit to starting and selling her company. She discusses the challenges she faced, including a lack of capital and competition from Amazon. Jules also talks about the acquisition of The Grommet by Ace Hardware and the future of the company. She then shares her experience as a venture capitalist and her role at X Factor Ventures. The conversation covers topics such as dealing with rejection, the importance of saying yes, the challenges faced by women in the venture capital industry, and the traits that startup founders need to succeed.
Bio
Jules Pieri is an Investment Partner at XFactor Ventures, an Entrepreneur in Residence emeritus at Harvard Business School, and the co-founder and former CEO of The Grommet, which she sold to Ace Hardware Corporation. Jules was named one of the “Ten Most Powerful Women Entrepreneurs” by Fortune magazine.
She is the author of the 2019 book “How We Make Stuff Now” that Inc. magazine called “One of the 11 Must-Read Books for Entrepreneurs.” The best-selling book is used as part of the core curriculum in many college entrepreneurship courses.
Jules is a member of the Boston Design Vision Community Advisory Board, and an advisor to the American Economic Liberties Project. Jules served on the board of the University of Michigan Alumni Association, chairing the Endowment, Digital Transformation, and Nominating Committees and serving on the President’s Advisory Committee of this independent organization serving over 600,000 alums.
She studied industrial and graphic design at the University of Michigan, where she graduated summa cum laude. She was the first designer to graduate from Harvard Business School, where she played on the school soccer team.
Jules grew up as the daughter of an autoworker, in the city of Detroit, and has lived and worked in France and Ireland. She has three sons and lives in Boston, and is an avid hiker, weaver, and activist for economic equality.
Links
Please leave us a review: https://www.podchaser.com/AdventuresOnTheCanDo
Jules’ XFactor Ventures: https://www.xfactor.ventures/
The Company Jules’ founded creating a new category: https://thegrommet.com/
The book Think Like a Startup Founder (early access, due out late June 2024): https://www.manning.com/books/think-like-a-startup-founder
Jothy’s site for speaking, podcasting, and ruminating: https://jothyrosenberg.com
Jothy’s non-profit foundation The Who Says I Can’t Foundation: https://whosaysicant.org
Takeaways
Jules grew up in Detroit and later founded The Grommet, a product launch platform.
The Grommet faced challenges such as a lack of capital and competition from Amazon.
The company was eventually acquired by Ace Hardware and continues to focus on finding and promoting emerging products.
Jules is now a venture capitalist at X Factor Ventures, investing in diverse founding teams with billion-dollar opportunities. Finding a way to be helpful to companies even when saying no can build stronger relationships.
Being able to say yes and trust the people you work with is a key trait of successful founders.
Discrimination against women and people of color is still prevalent in the venture capital industry.
Grit, resilience, and tenacity are important traits for startup founders.
Personal experiences and upbringing can shape a person's ability to overcome challenges and succeed.
Takeaways
Jules grew up in Detroit and later founded The Grommet, a product launch platform.
The Grommet faced challenges such as a lack of capital and competition from Amazon.
The company was eventually acquired by Ace Hardware and continues to focus on finding and promoting emerging products.
Jules is now a venture capitalist at X Factor Ventures, investing in diverse founding teams with billion-dollar opportunities. Finding a way to be helpful to companies even when saying no can build stronger relationships.
Being able to say yes and trust the people you work with is a key trait of successful founders.
Discrimination against women and people of color is still prevalent in the venture capital industry.
Grit, resilience, and tenacity are important traits for startup founders.
Personal experiences and upbringing can shape a person's ability to overcome challenges and succeed.
Sound Bites
"Yeah, so my career has been a lot around product development."
"I can take the rejection. I'm very good at it, but I don't like giving it."
"You've got to be able to trust the people who work with you, that they're bringing ideas, that they're going to put their all into it."
Chapters
00:00 From Detroit to The Grommet: Jules' Journey
14:01 The Acquisition by Ace Hardware
33:23 Challenges Faced by Women in Venture Capital
39:41 The Traits of Successful Startup Founders