Sonya Williams: Startup Mythbusting

Along with five co-founders, she began Sharesies with a bold mission of creating financial empowerment for everyone. She’s now co-CEO and a Director, and has led the company through some incredible growth, including their Australian expansion.

Our conversation with Sonya got us thinking about what assumptions are made while scaling startups. Her experiences illuminate the nuances of every founder's journey.

Myth #1 - Launch an MVP as fast as possible - Speed is everything but at the early stages, it's essential to take the time to get intimate with your user and their problems. Sonya reflects on how they did six months of customer research before launching.

Myth #2 - Working out your team values is a corporate exercise - The startup spirit has always sought to free itself of corporate-isms. When it came to setting the tone of their founding team, Sonya looks back on the time they dedicated to articulating their values and how they are in practice today.

Myth #3 - Be wary of your competition - Startups often have a black box mentality when it comes to socialising with competition. Sonya challenges this idea, saying startups should never assume who their competitors are.

Myth #4 Mission-driven companies aren’t as commercial - For mission-driven startups, entering territories with greater risk from a business perspective could raise flags but when viewed from a mission perspective, not tackling them could be worse. Sonya credits their mission as the driver behind some of their biggest strategic moves like Kiwisaver.

Myth #5 There’s a blueprint for raising capital - Your capital raise experience will be just as unique as your business. Sonya’s take on capital raising is that it is as much about people, relationships, and shared values as it is about what’s in your pitch deck and your financial model.

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