Internship Description
Alana Blaylock'24 interned at Level, an impact investing startup and Tamer Fund for Social Ventures portfolio member aimed at funding Black female entrepreneurs. As a business development intern, Alana focused on building out Level's strategic partnerships and B2B vertical. The organization's mission seeks to close the racial wealth gap for a group that has historically faced systemic barriers in the business world. As a Black woman herself, she felt very fulfilled and proud operating within Level's investment thesis. Knowing that her efforts were instrumental in making strides towards creating opportunities for an underrepresented minority was a source of great satisfaction and motivation.
During my summer with Level I worked in their business development and fundraising departments. Within these areas, I focused on building out Level's strategic partnerships and B2B vertical. The organization's mission is to close the racial wealth gap by investing in Black women entrepreneurs. This group has historically faced systemic barriers in the business world.
We sought to adjoin with companies that have a history of supporting minorities and investing with impact. Our goal was to create synergistic partnerships where both parties benefited. By partnering with us, they would gain access to a one-of-a-kind multiracial professional network or arm their team with racial equity tools.
They also could align their company with phenomenal trailblazing leaders. This alignment allowed our partners to support a crucial social cause and showcase their commitment to diversity, inclusion, and equality.
As a Black woman, I felt very fulfilled and proud operating with our investment thesis. Knowing that my efforts were instrumental in making strides towards closing the racial wealth gap and creating opportunities for Black women entrepreneurs was a source of great satisfaction and motivation.
Over the course of a six-week period, I engaged in a multifaceted process that encompassed comprehensive research, insightful discovery calls, and extensive ideation. I delved deep into the intricacies of marketing our services effectively. This involved identifying the key selling points of our offerings and crafting a diverse menu of options that would cater to the unique preferences of prospective clients. A critical aspect of this preparatory phase was my obligation to take a macroscopic view of the economic landscape. I analyzed the current economic climate, taking into account factors such as fiscal year-end and year-start dynamics. This context awareness was instrumental in determining the best moments to pitch Level to other businesses.
One of the more nuanced challenges during this period was establishing the pricing structure for our service packages. It wasn't simply a matter of picking numbers out of thin air; I had to substantiate each price point by evaluating the perceived value that our services would deliver. This necessitated a close examination of the \"value stick\" from our strategy course in the core. I had to align our fees with the tangible benefits and outcomes that clients could expect, ensuring that they saw a clear return on their investment. Furthermore, I sought to understand people's willingness to pay. This aspect was crucial in positioning our services in a way that would be both attractive and affordable to our target audience.
Throughout this entire process, I maintained a strong focus on framing issues and opportunities in a positive manner. This approach, deeply ingrained in my mindset, was good business practice and a reflection of the collaborative ethos that I aimed to foster. In essence, my role was a dynamic combination of strategic thinking, market analysis, pricing strategy development, and relationship-building skills.
How to pitch ourselves in a clear, focused manner was a bit challenging because Level has many layers to its business model. Level brings women of all races together while doing a Women's Equity Circle, where half Black half non-Black women come together to invest in Black women entrepreneurs. While conceptually rich, it was sometimes challenging to articulate that mission succinctly. To navigate this, we had to refine and simplify our messaging while retaining the essence of our mission and the unique value we bring to the table. We looked to orchestrate the most appropriate partnership offerings.
Operating within the current market proved to be strenuous because it's a bit in disarray. This market turbulence demanded a heightened level of adaptability and agility in our strategies.
Finally, at the start of the internship it took some time getting adjusted to Airtable and Fellow. These tools were integral to our operations and workflow, and it took some time to become proficient when using them.
From the start I felt absolutely inspired by the co-founders Jenny Tolan and Nikoa Milton, who are not only CBS alums but also complete rockstars. They built Level from the ground up and are so passionate about seeing women of all races succeed and unite for the greater good. I feel so lucky to have built more professional skills while gleaning from them. Furthermore, I really enjoyed working within the partnerships sphere and the team expressed that I'm good at it. A significant portion of my background in media is transferable to business development, and now I'm certain I'd like to hold a position in marketing within my post-MBA role. Partnerships came natural to me and I found my tasks extremely stimulating. Plus, my prior creative experience made me a whiz at partnership decks and one sheets.
Lastly, I gained a range of investment vocabulary and gathered more about impact investing and venture capital. Now I know the difference between angel, seed, and series funding, for example. I'm also apprised of safe notes and convertible notes in the form of loans. The fact that I have stepped into this world is utterly fascinating. I desire to level up from here!
