Karen Frame is the Founder and CEO of Makeena, a seamless loyalty and rewards platform dedicated to transforming the shopping experience into one that's healthier, more sustainable, and cost-effective.
I wish someone had told me about the importance of building a strong support network early on.
Having mentors and peers to lean on for advice and encouragement can make a huge difference.
The biggest challenge has been balancing growth with cost management.
I've navigated this by prioritizing investments that drive long-term value and continuously optimizing operational processes to reduce waste.
Focus on prioritizing spending. Identify areas that drive growth and allocate resources there. It's easy to get distracted. Leverage your network for mentorship and partnerships that provide value without significant cost.
Also, embrace the lean startup approach by testing ideas quickly and iterating on them based on feedback to avoid unnecessary expenses.
Being creative can often compensate for limited capital.
My biggest mistake was being too conservative with fundraising. I initially tried to bootstrap everything, thinking it would give us more control and flexibility. This actually slowed our growth and caused us to miss key market opportunities.
The lesson?
Raise as much money as you can early on when the market conditions are favorable.
This gives you the runway to experiment, hire top talent, and scale faster than your competition.
Karen is a dynamic technology leader and serial entrepreneur who has founded three companies, including two transformative ventures in the natural products industry. With over 25 years of expertise in software development, data analytics, and general counsel roles, she has consistently driven innovation and growth. During her two previous startups, she notably secured a strategic partnership agreement with one of the largest telco companies in North America and a pivotal nationwide contract with Wild Oats (now Whole Foods and Amazon).
Her multidisciplinary background includes a B.S. in Accounting from Indiana University (and former CPA credentials), a J.D. from the University of Illinois, and advanced studies at the University of Oxford. Karen's corporate experience at technology leaders Accenture and Intel, combined with her role teaching entrepreneurship at the University of Colorado, demonstrates her breadth of expertise. She now brings this comprehensive background and entrepreneurial drive to Makeena, where she is advancing the company's mission in the natural products space.
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