HBCU Founders Accelerator Spring 2023 Cohort Spotlight: Meet Margo Jordan from Enrichly
In April, we launched the first cohort of the HBCU Founders Accelerator Program. Over the next several weeks, we’re thrilled to spotlight each of the teams, their founders, and their remarkable journeys. Up next, meet Margo Jordan from Enrichly!
Can you tell us a little about your background and what inspired your entrepreneurial journey?
I grew up in Milwaukee, WI and as a kid, I suffered from low self-esteem. This formed as a result of a lot of childhood traumas. This led to me making a lot of poor decisions in high school. At the age of 18, I decided to join the military to combat those bad decisions; that is where I developed a sense of what I’m really capable of and my self-esteem flourished.
What problem is your startup solving and what sets Enrichly apart from competitors in the industry?
We are solving the issue of low self-esteem that negatively impacts over 75% of youth around the world. Low self-esteem is attributed to things such as low academic achievement, violent behavior, and suicide. Our self-esteem-focused digital platform possesses several key competitive advantages that set us apart from our competitors in the market. Taking a holistic gamified approach to improving self-esteem sets us apart from any other competitors in the industry. Our proactive approach to tackling low self-esteem has given us the ability to help police departments lower rates of youth violence, healthcare improve youth mental health, and schools increase academic performance.
What challenges did you face during the early stages of building Enrichly and how did you overcome them?
High school panel at the Critical Conversations event.
In the early days, I struggled with finding a good team to build this company with. I knew there were specific characteristics I would need to be embedded into the team in order to bring the vision to fruition. I had to hire and fire more than a few individuals to get to the place that I am in now with a fully capable team who have the passion and expertise needed. I overcame this hurdle by seeking advice from others, knowing when to hire slowly and whom to hire first, and setting boundaries with employees. I took countless workshops and learned how to navigate the hiring process.
Where do you see your company in 5 years? What impact do you hope to have?
I see Enrichly impacting 10 million children globally between the regions of the USA and MENA. We would like to see Enrichly implemented in 65% of schools around the US.
How do you prioritize and balance your time and responsibilities as a founder?
I keep a calendar of all events and label their importance. Not only am I a founder but I am also a mother so ensuring that I do all things necessary in all aspects of my life is of utmost importance. I also make sure to leave my personal development time in the schedule. This personal development time is imperative when it comes to balance.
What led you to become interested in Nex Cubed? What resources do you believe will be most helpful?
My interest grew from the unique approach that Nex Cubed was taking to curate a program specifically for founders who had attended HBCUs. For the longest time, graduating from an HBCU was looked at like it was mediocre as a founder trying to raise VC dollars. We have been overlooked for far too long and the fact that Nex Cubed was celebrating me being an HBCU grad really appealed to me.
Access to networks will be most helpful as we continue to grow as a company. A lot of the time, it isn’t what you know but who you know.
What advice would you give to aspiring entrepreneurs who are looking to make their mark in the industry?
Find your passion: Identify what truly drives and excites you. Choose a field or industry that aligns with your interests and values, as it will sustain your motivation throughout the entrepreneurial journey.
Learn continuously: Stay hungry for knowledge and actively seek opportunities to learn. Read books, attend workshops, join industry events, and connect with experienced professionals who can mentor and guide you. Develop a growth mindset and embrace lifelong learning.
Margo Jordan leading an Etiquette & Empowerment Program with Highland Heights Elementary School.
Start small and iterate: Don't wait for the perfect moment to begin. Start with a minimum viable product (MVP) or a simple prototype and gather feedback from your target audience. Embrace an iterative approach, continuously improving and refining your product or service based on customer insights.
Build a strong network: Surround yourself with like-minded individuals, entrepreneurs, mentors, and advisors who can support and inspire you. Networking not only provides valuable guidance but also opens doors to new opportunities, partnerships, and collaborations.
Embrace failure and learn from it: Failure is inevitable on the entrepreneurial journey. Embrace it as a learning experience rather than a setback. Analyze your failures, identify the lessons they offer, and use them to grow stronger and smarter.
Stay adaptable: The business landscape is constantly evolving, so be willing to adapt your strategies and embrace change. Remain agile and open-minded, and be prepared to pivot when necessary to stay ahead of the curve.
Develop resilience and perseverance: Entrepreneurship can be challenging and demanding. Cultivate resilience to overcome obstacles and setbacks. Stay focused on your long-term vision and keep pushing forward, even in the face of adversity.
Prioritize customer satisfaction: Understand your target audience's needs and desires, and strive to provide exceptional value and customer experiences. Building strong relationships with your customers will lead to loyalty and positive word-of-mouth, which are crucial for long-term success.
Manage risks wisely: Take calculated risks while also being mindful of potential pitfalls. Conduct thorough market research, assess the competitive landscape, and make informed decisions. Develop contingency plans to mitigate risks and maintain a strong financial foundation.
Take care of yourself: Entrepreneurship can be demanding on your physical and mental well-being. Prioritize self-care, maintain a healthy work-life balance, and seek support when needed. Remember that your personal well-being is essential for sustainable success.
What advice would you give to other HBCU students/grads who are considering entrepreneurship?
Leverage your HBCU network: HBCUs foster strong communities and networks of alumni who can provide valuable support, mentorship, and connections. Tap into the alumni network – they may have insights into your industry.
Seek entrepreneurial resources on campus: Many HBCUs offer programs, centers, and resources specifically designed to support entrepreneurship. Participate in entrepreneurship-focused clubs, competitions, and events on campus to build your skills and network.
Identify and solve problems within your community: HBCUs often have a strong connection to their local communities. Look for challenges or gaps within your community that you are passionate about addressing.
Margo Jordan, Brené Brown, and Anthony Forstner.
Build a diverse team: Encourage diversity and inclusivity within your entrepreneurial team. HBCUs are known for their diverse student populations, so embrace the opportunity to collaborate with individuals from different backgrounds and perspectives.
Embrace entrepreneurship education beyond the classroom: Supplement your academic education with self-directed learning. Read books, follow industry blogs, and listen to podcasts related to entrepreneurship. Attend workshops, conferences, and seminars outside of your campus to broaden your knowledge and perspectives.
Seek funding opportunities: Explore grants, scholarships, and funding programs specifically available to HBCU students or entrepreneurs. Research organizations, foundations, and government initiatives that support underrepresented entrepreneurs.
Where can readers/listeners/viewers learn more about your business?
Instagram: @enrich.ly
Twitter: @enrich_ly
LinkedIn: @enrich.ly
Facebook: @enrichly
Website: enrich.ly