Just Ask.
Katherine Tang and Sara Raza, the Co-Founders at FuturFund!
Co-Founder: Katherine Tang
Hometown: Mississauga, Ontario
Education: Currently in her Second-Year at Western University
Start-Up: FuturFund
What is Futurfund?
Futurfund is a non-profit organization run by a small, fast-paced group of students, who started it 3 years ago in their last year of High School. They advocate financial literacy in high schools across the GTA, through workshops and an annual conference. Their goal is to make financial literacy accessible and engaging.
In their first year, they started an annual conference for high school students with workshops and a stock competition. In their second year, they expanded this conference to reach the GTA and added a team decision-making competition. They also provide workshops in Waterloo, London, and Ottawa. They are now trying to build more of a presence online to be the go-to resource for young people. And now, they even have people reaching-out to them to partner with—how awesome!
How did Katherine get started?
Katherine gained an interest in entrepreneurship during a summer camp during her Grade 11 summer, which was run by the Economic Club of Canada. She noted that this really tried to develop young peoples’ interest in entrepreneurship and gave her an opportunity to pitch a company to a number of executives. This is where she realised the school curriculum really didn’t teach much about financial literacy despite how practical and important it is and by the end of that week, she came up with the idea for FuturFund. Her and her Co-Founder saw this gap even in their own lives and decided to get going on it.
Did she have any entrepreneurial influences in her life?
Katherine noted that although her parents weren’t exactly entrepreneurs, they sent her to a middle school program called the International Business and Technology Program. It was a 2-year program that drilled home what it meant to be an entrepreneur and at the end of Grade 8, she had to create a business plan and a product to sell at a trade show. The night of the trade show she made $300 off of her bubble tea product. She said “To think that even in our university curriculum now, 6-7 years later, they are still pushing us to come up with a business plan, I feel like I really got a head start on entrepreneurship. It set me on a very rewarding path and gave me the mentality that starting something is possible if you work hard for it.”
What has been Katherine’s biggest challenges?
When it comes to start-ups, everything and anything can go wrong at anytime. But a lot can go right, and you can learn a lot on-route. For Katherine, that has meant learning how to work with others in team situations. She noted that she has a type A personality and when she comes across something, she wants to get good at it quickly, check boxes off her list and see things come to life, while others are not always like that. She learned to be patient and better able to communicate the value of why she is doing certain things and setting out clearly that her mentorship is available. And as a team, Katherine noted, that they have accomplished so much more than she could’ve alone. Remember, teams are so important!
Personal Mentors are so Important
Katherine said personal mentors have been a huge part of her growth as an individual. One in particular has been Merv Hillier, the former CEO of the Charter Management Accountants, who was the first person she actually pitched FuturFund to. Even in their busy schedules, they always try to find a time to grab coffee. And remember, you don’t have to like coffee to go for a “coffee chat.” Every conversation I have had like this has been very rewarding with the worst situation being something I’ve learned from—remember, don’t be too nervous!
Just Ask.
If you need something, you have nothing to lose by asking for it. Katherine noted when you are younger, you don’t think you are as credible or as legitimate. You are asking people for their time, sponsorship, resources and you don’t feel you are worthy of it, but you are and good things do come when you ask. For FuturFund, Katherine noted they received all their sponsorship through cold emailing people; they even reached-out to Sun Life Global Investments, who is their main sponsor for their upcoming conference. Regardless, there will always be a net benefit. Some people won’t respond, or they will say no. But, for those who do say yes, miracles can happen.
Get to know Katherine:
Books & Music & Movies of influence:
- Norwegian Wood by Haruki Murakami: Katherine noted this book was very cleansing.
- Eternal sunshine of the spotless mind: This movie explores the topic of memory, which Katherine noted she is obsessed with.
- Outliers by Malcolm Gladwell: She said that this book talks about people who are successful are more exceptional than their peers and sometimes that is because of a rare opportunity or rare circumstances they are put into. She realised that you need to put the hard work in so when the circumstances or luck presents itself, you are ready.
- Music: The Weeknd, Lena Del Rae, Ramriddlez
- Nerdy Fact: Katherine is a big advocate for oxford commas and thinks not enough people use them (What are your thoughts?)
- Favorite place traveled: Mongolia!! She rode camels and noted how unexpectedly they drop when you get off of them.
When I asked Katherine whether she wish she knew anything prior, she said not really, and continued by noting the nature of entrepreneurship is that you are not able to predict things; its risky. A lot of entrepreneurs struggle with this and it is why people don’t start because they don’t know what will happen and they spend a lot of time waiting. She notes that if you think something is viable, if you have a passion and there is a need in society, then just go for it. Get started. Talk to more people!! Launch it, and see what happens.
Katherine shared some great advice from Mark Zuckerberg’s recent interview with YCombinator: “He said it’s really important whatever you are building really serves a purpose in the world, there is a lot of buzz about entrepreneurship lately, which is great. It encourages young people to take their life in their own hands, which is really cool, but business should serve a purpose in the world, and if you manage to do that you will naturally have a lot of users. When you see that happening and you are creating value in peoples’ lives, it’s a true indicator you have really made a change in other peoples’ lives.”
Thanks Katherine! If you want to learn more about FuturFund, please check-out their website. Their upcoming conference will be held on May 13th in downtown Toronto. If you have any questions for me, please feel free to reach-out.
