Female Disruptors: Scarlett Li-Goshawk of Giftstart On The Three Things You Need To Shake Up Your Industry
Prioritize Building Strong Relationships: Early in my entrepreneurial journey, I connected with a good friend, who is an experienced business owner and stressed the significance of nurturing relationships. He shared a compelling story of how a single satisfied customer not only became a loyal advocate but also referred numerous others to his business. This story deeply resonated with me as I scale Giftstart, where we prioritize cultivating enduring relationships with our users. We understand that a contented customer can become our most influential ambassador, driving organic growth.
As a part of our series about women who are shaking things up in their industry, we had the pleasure of interviewing Scarlett Li-Goshawk.
Channeling her passion for helping families and her expertise in business, Founder and CEO Scarlett Li-Goshawk is on a mission to bring more convenience for Canadian parents through Giftstart, the country’s most comprehensive platform for baby registries. As an established business professional, Scarlett previously held leadership roles across North America and Asia for leading companies in tech and manufacturing industries.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
My career path is rooted from growing up in an entrepreneurial environment, which has had a deep influence on my career choices. After obtaining a BComm degree from UBC’s Sauder School of Business, I launched my career in the competitive world of asset management on Bay Street, where I expanded my insights into finance and investment. Subsequently, my journey led me to becoming interim CEO of our family business. This role marked a significant turning point in my career as I oversaw the successful exit of the family business.
Alongside my entrepreneurial background, these experiences in finance and business management significantly influenced my professional journey. It was during this time that I discovered my true calling-making a profound impact on families’ lives.
Combining my business expertise with my desire to support families, I established Giftstart Inc, a platform that is revolutionizing the baby registry experience.
Can you tell our readers what it is about the work you’re doing that’s disruptive?
The concept of baby registries has been a longstanding tradition, but it has seen minimal evolution in recent decades. Parents used to create their registries in physical stores, and now they’re transitioning to online versions of these stores.
While the core concept of how we register hasn’t seen significant evolution, parenting has undergone a profound transformation. This is driven by several factors such as an increase in working parents, escalating child-rearing costs, inflation, and shifting regulations. Most importantly, there is a growing awareness of the crucial role that parental well-being, encompassing both physical health and mental wellness, plays in effective child-rearing.
Giftstart is leading the way in reshaping the traditional approach to baby registries in Canada. We go beyond the confines of conventional baby products and services. In fact, we are the first and only platform in the country to offer a more comprehensive range of options, including services, subscription offerings, and monetary contributions. This allows us to meet the evolving needs of modern parents, providing them with a more flexible and all-encompassing experience.
Our innovative approach focuses on three key elements:
- Well-Being: We emphasize the well-being of parents by incorporating services into the registry. This ensures that parents have the necessary support for their parenting journey, encompassing both physical and mental well-being. We provide support for newborn care, such as babysitting, night nannies, lactation support, and sleep training consultants, among others.
- Cash Fund: We understand that asking for monetary support can be awkward, but with the rising costs and inflation, it’s crucial to offer this option. Our platform enables parents to receive cash contributions and the flexibility to use the funds as they see fit. This could involve saving for their child’s daycare expenses, educational costs, or discreetly covering items they may not wish to include on their registry.
- Growing with the Child: Our platform is designed to adapt and grow with the child. It’s not limited to the baby phase; parents can use it for milestone celebrations, holidays, and other occasions. Additionally, our goal is to create a community where parents can seek and provide advice, building a supportive network for all.
In essence, Giftstart is a comprehensive approach to the baby registry experience, designed to meet the diverse needs of modern parents to provide the best care for their children.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
When I was first starting Giftstart, I had big dreams of naming the baby registry platform something simple and memorable, like “BabyRegistry.ca” or even something fun and sweet, such as “JellyBean” or “SnuggleNestRegistry.” I thought these names would instantly resonate with parents and make us stand out in the market.
However, as I delved into the process of securing domain names and trademarks, I quickly realized that these names were far too similar with many existing businesses across all industries. Therefore, it would be challenging for us to stand out.
As a result, I invested more thought into our naming process and eventually arrived at “Giftstart.” This name perfectly encapsulates our mission to not only simplify the baby registry experience but also symbolize the new life starting as parents joyfully welcome their newest addition to the family.
We all need a little help along the journey. Who have been some of your mentors? Can you share a story about how they made an impact?
I’ve been fortunate to have several mentors who have played pivotal roles in my journey.
My first and most influential mentor was my father. While it may sound cliché, he truly was the best mentor I’ve ever had. He was an exceptional figure, wearing multiple hats as an entrepreneur, educator, engineer, and one of the most influential inventors at the forefront of R&D in the lighting industry.
I owe a significant portion of my business knowledge to my father. He mentored me closely as I went through school, instilling in me the core values of diligence, perseverance, unwavering work ethics, and the art of effective leadership. Moreover, his strong emphasis on the importance of kindness and being a good person profoundly shaped my approach to both life and business.
As I advanced in my career, I had the privilege of being guided by other mentors as well. Hussein Amad, the President and CEO of Yorkville Asset Management, played a critical role in imparting financial knowledge, particularly in risk management, and investment expertise. His guidance proved invaluable in helping me navigate the intricate landscape of finance.
Michael Hyatt, renowned tech entrepreneur and investor, has been another incredible mentor. His insights and advice have consistently steered me in the right direction as I grow my own tech startup,Giftstart.
In today’s parlance, being disruptive is usually a positive adjective. But is disrupting always good? When do we say the converse, that a system or structure has ‘withstood the test of time’? Can you articulate to our readers when disrupting an industry is positive, and when disrupting an industry is ‘not so positive’? Can you share some examples of what you mean?
In today’s rapidly evolving business landscape, disruption is often seen as a positive catalyst for innovation and progress. However, disruption can also be seen as a multifaceted concept, with the potential for both positive and negative outcomes, contingent on how it’s harnessed and its impact on the industry.
Take AI as an example. When used effectively, AI possesses the potential for remarkable positive outcomes. Its applications in healthcare, such as enhancing medical diagnosis with higher accuracy and efficiency, are clear examples of its benefits. In a similar instance, Giftstart leverages AI to improve our customer service through chatbots, and other tools enabling better product recommendations and rendering our baby registry platform more interactive and user-friendly. In these cases, AI’s disruption of traditional systems undeniably delivers positive results, enriching service quality and the overall user experience.
In situations where it’s employed unethically or maliciously, use of AI can also yield negative outcomes. There have been many cases of how AI algorithms have been misused to manipulate public opinion or perpetrate deepfake scams and fraud, demonstrating the dark side of this disruption. Such applications erode trust and have the potential to cause harm to society.
Ultimately, it all depends on how we yield disruptive technologies and the intentions underlying their application. Ethical and responsible use of disruption can foster considerable progress and convenience, while its unscrupulous application can bring about harmful consequences. Finding the right balance is crucial to ensure that disruption serves the greater good while mitigating potential negative impacts.
Can you share 3 of the best words of advice you’ve gotten along your journey? Please give a story or example for each.
Adaptability: From a very young age, I understood the importance of adaptability in both my personal and professional life. The only constant is change. When founding Giftstart, our commitment to adaptability became evident. We understand that modern parenting extends beyond traditional baby gear. It involves providing support where parents need it most, whether it’s babysitting services, newborn care, or financial support. This realization became the foundational principle of our business: to adapt to the ever-evolving needs of Canadian parents. Our goal is to continually adapt to best support and empower the parenthood journey of today’s parents.
Prioritize Building Strong Relationships: Early in my entrepreneurial journey, I connected with a good friend, who is an experienced business owner and stressed the significance of nurturing relationships. He shared a compelling story of how a single satisfied customer not only became a loyal advocate but also referred numerous others to his business. This story deeply resonated with me as I scale Giftstart, where we prioritize cultivating enduring relationships with our users. We understand that a contented customer can become our most influential ambassador, driving organic growth.
The Power of Resilience: The third invaluable piece of advice emphasizes the power of resilience. I’ve come to understand that as a startup or even an established business, challenges and roadblocks are inevitable. It’s essential never to give up. One of my favorite quotes is by Winston S. Churchill, whoonce said “”Success is stumbling from failure to failure with no loss of enthusiasm.” This quote has been a wellspring of inspiration, encouraging me to persevere through the tough moments in my entrepreneurial journey. Giftstart, in its early stages, encountered numerous technical challenges and hurdles. Nevertheless, our resilience empowered us to pivot, devise solutions, and continue forging ahead
In your opinion, what are the biggest challenges faced by ‘women disruptors’ that aren’t typically faced by their male counterparts?
Recent studies continue to underscore the underrepresentation of women among venture-backed entrepreneurs and VC investors, with companies founded solely by women receiving less than 3% of all venture capital investments, and women accounting for less than 15% of those making investment decisions. These disparities impact the opportunities available to women disruptors in securing funding and support for their innovative ventures.
While online baby registries like ours focus on babies, moms, and partners, there have been challenges when it comes to gaining full recognition for our value proposition. Rather than recognizing our scalability, I’ve been told our business concept is “cute and sweet.” Nevertheless, it’s vital to acknowledge that the baby industry, especially in Canada, is a substantial market estimated at $8 billion, with the potential for significant growth.
Although these challenges persist, progress is being made in narrowing the gender gap in entrepreneurship and investment. Initiatives aimed at promoting gender diversity and supporting women disruptors play a pivotal role in cultivating a more equitable business landscape.
Do you have a book/podcast/talk that’s had a deep impact on your thinking? Can you share a story with us?
I have re-read both “The Art of War” and “The Intelligent Investor” many times. Both books have had a profound impact on my personal life as well as in business.Much like during warfare, the ability to adapt and respond to changing circumstances in business is paramount. Sun Tzu’s teachings emphasize the importance of flexibility and understanding one’s environment, which is crucial for strategic success. These insights from “The Art of War” have proven invaluable in my entrepreneurial journey. For Giftstart, especially in the early days, learning to adapt was crucial. The concepts of maneuvering, adapting our strategies, and effectively navigating the complexities of the business landscape, with inspiration from “The Art of War,” were instrumental in helping us overcome these obstacles.
On the other hand, “The Intelligent Investor” by Benjamin Graham offers essential lessons in investment, emphasizing the importance of a rational and disciplined approach. This book has not only influenced my personal investment decisions but has also provided a solid foundation for financial management within my business endeavors.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)
I wholeheartedly believe that kindness has the power to create a profound and positive impact on society. If I could inspire a movement, it would revolve around the simple yet transformative concept of “The Kindred Hearts.”
The core principle of this movement is to encourage acts of kindness, empathy, and compassion on a daily basis. It’s about fostering a culture where people, regardless of their background or beliefs, come together to make the world a better place through small, everyday gestures of kindness aimed at supporting parents. Whether it’s offering assistance to a new parent in need, organizing community initiatives to aid families, or simply providing a helping hand to parents facing challenges, these acts would form the building blocks of The Kindred Hearts.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“To improve is to change, to be perfect is to change often,” by Winston Churchill.
In the ever-evolving retail tech landscape, change is not just inevitable–it’s essential for growth and improvement. Giftstart’s journey is a testament to the significance of adaptability and constant evolution. To improve our platform, we’ve had to embrace change and innovation continuously.
This quote reminds me that perfection is not a static state but a continuous process of refinement and adaptation. Being perfect means being open to change and staying agile to meet the evolving needs of our users. It reinforces the idea that the key to success in any business is the ability to adapt and change often, striving for constant improvement and progress.
We are sure you aren’t done. How are you going to shake things up next?
You are absolutely right! At Giftstart, we’re committed to continuous innovation. Our primary goal is to empower people in every step of their parenthood journey.. We understand that the experience doesn’t end with the baby registry– it’s about fostering a supportive and secure community for parents to grow with their children.
We want to provide comprehensive support in the best way we can, making parenting a more manageable and delightful experience. To achieve this, we’ll continuously develop new partnerships, tools, and features to cater to the evolving needs of parents. Our next steps also involve enhancing the user experience, expanding our offerings, and ensuring that Giftstart remains a valuable partner for parents throughout their exciting journey. We’re excited about our roadmap ahead and the positive impact we aim to have on the lives of parents and their little ones.
How can our readers follow you online?
Stay tuned for more exciting updates as I grow Canada’s most comprehensive baby registry platform on Giftstart’s website, LinkedIn, Facebook, and Instagram pages. You can follow me personally on LinkedIn.
This was very inspiring. Thank you so much for joining us!
