We speak with the CEO & Co-Founder of Resourcly, for our Inspirational Female Entrepreneurs series…

In recognition of International Women’s Day we’ve been speaking with the women who have used their time at business school to become trailblazers – unleashing their entrepreneurial superpowers to make a change in their industries and the world around them.

Helena Most is the CEO & Co-Founder Resourcly, a start-up which is supporting the manufacturing sector in it’s ongoing efforts to operate in a more sustainable, responsible (and even profitable!) manner.

Here she shares how pursuing a Part-Time MBA at Mannheim Business School helped set the stage for her start-up to flourish…

Can you tell us a bit about your start-up, and what it does?

Resourcly is a Techstars backed start-up, enabling manufacturers to turn idle inventory into profit. With our Shared Inventory OS for circular supply chains we help manufacturers improve working capital and ensure cost-effective, compliant material procurement by leveraging product data and AI – one manufacturer’s idle inventory is another one’s resource. By connecting manufacturers and value chain partners with our transformative technology we reduce emission and improve resource efficiency.

What inspired you to start your own business?

With over 15 years of manufacturing industry experience my co-founder Ian Draxten and I realised how the manufacturing industry is faced with a pressing dilemma: a co-existing scenario of resource scarcity and a massive amount of industrial inventory being tied up in capital (USD 2.5 Trillion) and ultimately being thrown away, primarily driven by overproduction plus excess and obsolete inventory. This threatens manufacturing processes and incurs notable revenue losses through supply chain disruptions. Amidst an era where sustainability is not only preferred but often required, there is an urgent call for a solution that seamlessly marries resource availability, efficiency, as well as economic and environmental responsibility.

How has your business school experience helped you in your life as an entrepreneur?

My business school experience probably set the foundation for my entrepreneurial journey. During my MBA I was surrounded with highly ambitious professionals who pushed for excellence– an environment which made me thrive as well. Strong minds, competitiveness and often very different perspectives prepared me for strategic conversations when stakes are high.

“I believe there is nothing more fulfilling than creating an impact with something you believe in, where you can add value not only to your own business but also to your customers and partners, and where you will always have a sense of purpose.”

– Helena Most – the CEO & Co-Founder Resourcly

Entrepreneurial courses equipped me with practical skills like fast prototyping, and being prepared for CEO tasks like fundraising, sales and strategy. Moreover an MBA comes with a network of professionals that I realised is invaluable when it comes to starting and running a successful business.

What were some of the biggest challenges you faced in the early stages of building your business, and how did you overcome them?

Starting a business from scratch as well as acquiring the first customer is challenging because you don’t have a strong brand in the background that speaks for itself or thousands of customers. In this case your unique industry insight and having access to a network is invaluable.

Moreover, companies talk about the circular economy but in reality this transition has just started. In this case we have to show even more how we solve a real pain point for our customers, add economic value while at the same time help them in their sustainability goals. B2B sales cycles are long, which cannot be stressed enough, makes the task difficult in the beginning. But again, a strong network and a massive number of reach outs and introductions is key.

As a female entrepreneur, have you encountered any unique obstacles or biases in your entrepreneurial journey? How did you navigate them?

As a women in manufacturing I already faced biases in the past. As a female entrepreneur of a tech startup in manufacturing there is even more potential for bias when you look at the statistics. However I tend to not pay much attention to that. I focus on the opportunity. I was also always lucky enough to have the right people around me, be it mentors, customers and partners that helped me navigate challenges.

Most importantly I learned not to take anything personal and not let it push me down. I know what I am capable of and let results speak for themselves.

What advice would you give to other women who are considering starting their own businesses?

Do it. Let the hopes or goals you may have influence your decision rather than your fears – especially not the fear of loss.

After an MBA you may already have a high standard of living, some may have a family or plan to start one, and the chances of having a well paid job are good. Leaving that career or deviating from the path or expectations other people have for you and going into the unknown is risky and not for everyone. However, I believe there is nothing more fulfilling than creating an impact with something you believe in, where you can add value not only to your own business but also to your customers and partners, and where you will always have a sense of purpose.

If you really want it, work hard for it and surround yourself with the right people, I believe anything is possible.

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