Q&A: Arielle Scott, The Force Behind GenJuice
How do you manage to fund your ventures? Did it take a lot of capital to get your first and second businesses off the ground?
No, it doesn’t take a lot of money. We started off of $500. It is quick and easy to build a prototype. If it is taking you more than a month, you should reconsider your venture. Find the people who will take that business and build it off of the ground. There are a lot of start-ups around that are willing to hire people to help them take it off the ground.
You have to provide some type of incentive. You have to be able to articulate what you’re bringing to the table if you’re not technically savvy. If you can’t build the website, tell the developers what you strengths are. The hardest thing to do is build your team. Once you have the team, a product, and an interest, you can build up the money. That’s all investors want to see. Ideally, an audience that is willing to pay for what you have.
GenJuice is still raising money. We’re in the incubator phase. When you’re trying to raise money, the one thing that will kill you is not meeting with a lot of investors. There are a lot of people who will say no and if you don’t meet with enough investors, you’ll never find the one who will say yes.
My first investor was my former employer. I went to all those investors that said no and showed them that my first investor wasn’t a corporation, but a former boss. Now, we have money from the incubator fund, but we’re still building.
You’ve accomplished so much in technology and innovation with GenJuice and other endeavors. What comes next for you?
Re-launching GenJuice. We’re in it for the long haul. What we want it to be is the next [digital] MTV. We want it to be the place that 20-somethings go for pop-culture.
We want to figure out the way to be the number one thing for 20-somethings to stay connected with each other and with the world. We want to have another tour to meet with young people. We’re just having a ton of fun doing it. Our fun is now interwoven into building this company.
What’s next for me? It will always be around content, young people, and empowering the next generation to do something.