MEET OUR MENTOR: JESSICA ALDERSON @ SO SYNCD
So Syncd is a dating app that matches compatible personality types. I was founded by two sisters, Jessica and Louella Alderson, during the pandemic. So Syncd’s mission is to make dating more fun, meaningful and successful. The app has helped over 4,000 people find fulfilling relationships and was recently named “the next big thing in dating” by Forbes.
What does impact entrepreneurship mean to you? Is it different from being a “regular” entrepreneur? How so? Supporting: why are impact ventures important in the global ecosystem?
Impact entrepreneurs are driven be a deep desire to make a positive social or environmental change. On a daily basis, their core motivation comes from wanting to improve people’s lives. That isn’t to say that impact entrepreneurs don’t view the financial health of their company as important. They do, it’s just that financials aren’t the end goal for them. Instead, they focus on financial health because it enables them to scale the company and make an even greater positive impact.
Ultimately, impact entrepreneurs measure success not just by financial growth, but by the positivity the company brings to the world. For myself and my sister, our motivation is to help people find love.Â
From your experience, what is the biggest obstacle young entrepreneurs face? Any advice for them?
There’s no question that starting a business is both a huge challenge and an incredible experience, no matter what your age. But for young entrepreneurs, there are unique hurdles to overcome. One of the biggest challenges is that you might not always be taken seriously. When you’re young, it can be a challenge to win the trust of potential investors, partners, and customers. This is because they may view you as inexperienced.
Additionally, young entrepreneurs often have to deal with limited resources. If you’ve worked for a while already, you’re more likely to have some savings to get your business off the ground. Young entrepreneurs are far less likely to have this luxury. It’s harder to get funding when you’re starting out, before having proved the concept.
Despite all these challenges, plenty of young entrepreneurs find success. So if you’re going through a tough period, don’t give up! It’s worth remembering that there are many advantages to being a young entrepreneur too.
You recently fundraised. Can you tell us how you decided who you fundraised from (VC vs angel vs grants etc) & give us advice on the process? What is one life hack we can use while fundraising for our own ventures?
We fundraised from an investment club, angel investors, and a fund. It was essential for us to bring on board investors who were aligned with our mission. Our lead investor is deeply passionate about human connection and it was clear from the very first meeting that it was a great fit. We wanted hands-off investors because we were early stage and already had incredible advisors. So going down the angel route made the most sense.
I would recommend finding a fundraising buddy, or a few if possible. During our most recent fundraise, I had three female entrepreneur fundraising buddies. Every Saturday, we would do a call which was a mixture of practical help and general support. We would run through the investors that we’d all met that week and then swap contacts. Plus, it was hugely helpful to talk to people who were going through the same experience.
Where can we find you? How can we support you? (IG, website, linkedin etc).
Website: https://www.sosyncd.com
LinkedIn: https://www.linkedin.com/company/sosyncd/
Instagram: @sosyncd
TikTok: @sosyncd