Women Who Build: Lara Hodgson, President and CEO, Now on Mindset Alignment with Partners, SMB Metrics, Partnership with GS

This is one of the most insightful episodes of Women Who Build thus far, and also timely, in the wake of the SVB crisis. Small businesses run our economies. And to help these businesses innovate and grow, Lara Hodgson is building Now along with her co-founder, the one and only, Stacey Abrams. NowAccount® is an invoice payment solution that redefines how and when businesses get paid. In addition to building Now, Lara serves as an EIR at HBS. Prior to Now, Lara co-founded Nourish (the manufacturing company), and Insomnia, LLC, a firm specializing in investment, development, and management of complex and innovative “world-changing” projects. Her background also includes 5 years with Dewberry Capital Corporation, an Atlanta-based commercial real estate development and investment firm, where she served as the company’s Chief Marketing Officer and Chief Operating Officer. Her product experience includes Dunk, a performance footwear and apparel manufacturing/retail company built on the concept of mass customization and founded with Shaquille O’Neal & Mike Piazza, where she served as Executive Vice President. Lara received an MBA from the HBS, and a BS in Aerospace Engineering with highest honors from the Georgia Institute of Technology. Today, she serves as a Trustee of the Georgia Tech Foundation in addition to other Boards. E&Y recognized Lara as a 2018 Finalist for the Southeast Entrepreneur of the Year. Key insights from this episode: - Business partners should be different. Otherwise, innovation will die. An individual does not have a 365-degree view of anything. Mindset alignment>skillset alignment - Payment acceleration>financing for small businesses, as financing own accounts receivables increases the cost of capital - Most important metrics for businesses to track: Days Sales Outstanding, and Cash "Flow" (Lara believes that while Cash is King, Flow is Queen! ;)) - Being an entrepreneur and a mom at the same time, makes you efficient! - CXOs at large companies may not have the DNA to understand small businesses, but they want to help! Follow Lara at: https://www.linkedin.com/in/larahodgson/ Follow Women who Build on - Twitter: @TheWomenWhoBui1 LinkedIn: https://www.linkedin.com/company/women-who-build-podcast/