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In December 2022, my co-founder and I closed a friends and family seed round for Popsmith, raising US$1.53 million from 84 investors in under 45 days during arguably one of the worst times to raise money since 2008.
I’ve founded several companies over the past 20 years, but this was my first time raising money. Over the years, I have learned a lot of important lessons as a member of Entrepreneurs’ Organization, Million Dollar Sellers and eCommerceFuel.
Arguably the most important lesson I learned is how critical it is to go all in on yourself as an entrepreneur. After all, if you don’t believe in yourself, how can you expect anyone else to?
Working-class roots taught me grit
I come from an uneducated immigrant working-class family. We lived in Coney Island government-subsidized housing for the first few years of my life. My parents divorced when I was young, and we fell into poverty. We had no health insurance; we shopped with food stamps.
My mom was left to raise two young boys essentially on her own with very little support. She did everything she could to make ends meet — cutting hair during the week and making and selling jewelry at night and on weekends. I spent many late nights alongside her, piecing together earrings and pendants on a folding table in our tiny apartment. We would wake up pre-dawn every Sunday, drive to the local swap meet, set up our booth, and sell our goods until sundown. Talk about grit! She had it in spades, and I picked it up from her.
We were homeless for a stretch. My kid brother and I slept in sleeping bags on the floor of the hair salon where our mom worked while she took the couch. We showered twice a week at a local hostel. Meals were either fast food or cooked in a microwave.
I had a very low sense of self-worth growing up. I was overweight and debilitatingly shy. I had few fri… Read More
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