by Julia Kastner  on Sun 29 Jan - 0 Comments
Categories: entrepreneurship, shared value business, Start-up

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1)  You did a range of different types of work in social enterprise before HBS, tell us a bit about your path and what you learned about social change and business along the way.

Prior to HBS, I worked in education, government, and microfinance.  Along the way, I realized that new business models were a great way to make immense social change and that a person starting their career in social enterprise could have an immediate impact as an entrepreneur.  In education, I worked at a charter school foundation, Beginning with Children.  I learned about the charter school movement and how competition sometimes leads to innovative practices.   While in New York City government, I worked on projects related to supporting entrepreneurs.  I was inspired by young, energetic individuals who were using new technologies to improve people’s lives.  Finally, as a fellow at Kiva.org, a non-profit website that facilitates microlending, I was exposed to many entrepreneurs – micro-entrepreneurs in rural Mexico as well as the founders of Kiva.  I was inspired by their impact on their communities and families, and I realized “if they can do it, so can I!”

2)  Why did you decide to go to business school?

Although inspired by my past experience, I recognized that I was still short of hard skills.  I was not a computer programmer, and I knew nothing about starting a business.  I had never even worked at a for-profit company!  I also had some vague ideas about the business I’d like to start, but I knew I needed help thinking through the business model.   Basically, I was looking for an incubator plus a degree.  I wanted to learn marketing, finance, and accounting while at the same time building my business.  And as an entrepreneur told me during my first year at HBS, “business school is the best insurance policy an entrepreneur can buy.” I chose HBS over other business schools because I knew its faculty, staff, and programs would support my international social enterprise.  HBS has one of the best social enterprise programs and amongst the best financial aid packages for entrepreneurs and for non-profit work.  I also was interested in starting my business in New York, and the HBS brand and network are both very strong there, as well as abroad.

3)  Has business school changed the way you think about social enterprise, entrepreneurship and your career? 

Absolutely!  I have learned the basics of business – what a P&L is, how you know a business has enough cash to survive, and what PE firms like Bain Capital actually do.  I learned what Venture Capitalists look for in a new investment and how to present information in a way they can appreciate.   In my Social Entrepreneurship classes, Business at the Base of the Pyramid with Professor Rangan and Social Entrepreneurship in the Business Sector with Professor Marquis, I learned about innovative business models that blend the efficiency and scale of business with the impact of the social sector.  During my HBS-organized IXP to San Francisco and my summer internship at an internet company, I learned about the tech sector and entrepreneurship in general.  But in a more fundamental way, HBS has broadened my perspective – I came in thinking that a “big” organization had $10M in revenue, but my classmates quickly corrected me.  I realized that I could dream big! 

4)  Tell us a bit about your venture you have been working on and what resources at HBSyou have used as you work on your start-up? 

I am working on a business idea for Fair Trade cotton apparel.  When I first came to HBS, I was already interested in the growing space for Fair Trade, but it took me some time to get to this idea.  If it weren’t for HBS – for my classes and mentors - I might never have seen this opportunity.  I took the first iteration of my idea through HBS’s Minimum Viable Product (MVP) and Business Plan Competitions (BPC) and made it through far enough to receive tons of feedback.  This feedback, as well as feedback from my independent project advisor, Janet Kraus, my classmates, and the Rock Center for Entrepreneurship’s Entrepreneurs in Residence, helped me move on to a second iteration of my idea.  I will take this new version through the MVP and BPC this year because I found the feedback so valuable last time.  As I take this idea towards implementation, I have also been relying heavily on the HBS brand and network for resources.  I’ve spoken with many alumni in my field and I have even identified potential sourcing partners through my sectionmates.  I feel extremely fortunate to have had the opportunity to build my business here at HBS and I am sure that even if this venture is not successful, I will be able to accomplish exciting things thanks to my MBA.

Julia Kastner is a second year student at Harvard Business School.  This summer she interned as a product manager at CafeMom.com, a venture-backed social network.  Prior to HBS, Julia worked at Kiva.org, a website that facilitates microlending around the world.  Previously, she worked in New York City government in an internal strategy group, and she ran an after-school program at an educational non-profit.  Julia received a BA with Honors from McGill University in Economics.