Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Steven Uster, Co-Founder and CEO of FundThrough, located in Toronto, ON, Canada.
What's your business, and who are your customers?
FundThrough is a leading player in the fintech small business working capital space. We help SMBs accelerate cash flow and enable their growth. Our AI-powered invoice funding platform re-imagines invoicing so that small- and medium-sized businesses can get paid instantly and eliminate “the wait” associated with customer payment terms.
Tell us about yourself
As a high school student, I first tested my interest in business by getting involved in sales and collections for a local trade show operator. I was selected as a Loran Scholar at McGill University, where I enrolled in the Bachelor of Commerce program.
After graduating from McGill, I worked on Wall Street in New York. I started my career at UBS Investment Bank and continued at Centerview Partners, advising large public companies on aspects of their business, including raising money and making acquisitions. While I have worked with many Fortune 100 companies, my passion has always been helping entrepreneurs to grow their businesses.
What's your biggest accomplishment as a business owner?
FundThrough has helped save more than 5 million days of waiting to get paid - cutting wait times up to 97%! We're also excited to have more than $ 1 billion in invoices advanced to SMBs.
What's one of the hardest things that come with being a business owner?
One of the hardest things is making decisions with imperfect information. Being an entrepreneur means making choices using the best information you have at the time and then moving forward. If your choice is wrong, adjust quickly but don't fall into analysis paralysis where you freeze from making any decision because you don't know what the result of your decision will be.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- The highs are never as amazing as they appear, and the lows are never as bad as they seem. Stay grounded - running a business is like riding a roller coaster; there are always ups and downs.
- Be comfortable with uncertainty. If there was a certain outcome, everyone would do it. There is rarely a "right" or "perfect" answer, so don't expect one. Simply use the data you have to make the best decision you can at that time.
- Find a support network. There are things that come up that you can't share with your team or your co-founder, or even your life partner. Find a support group of fellow entrepreneurs who can relate to the challenges and stresses you face and who won't judge so that you can share and learn.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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