Sheena Allen helps millenials through a financial technology company that creates the opportunity of financial health.
I am the founder and CEO of CapWay, a financial technology company that creates the opportunity of financial health for underserved millennials. CapWay is an untraditional financial ecosystem that stops the cycle of the next generation being dependent on the predatory economy. Our platform provides financial literacy and financial services, including banking the unbanked and adjusting financial behavior through machine learning.
What were you doing before this? How did it prepare you for the entrepreneurial life?
I was attending the University of Southern Mississippi. I did not prepare for the entrepreneurial life at all. In fact, I kind of fell into this life. I had a random idea for a mobile app one day during my senior year of college and decided that I was going to figure out how to bring my idea to life. During the process of developing my first app, I easily realized that this was indeed my passion.
What sacrifices have you had to make to be a successful entrepreneur?
There are numerous sacrifices you must make in order to be a successful entrepreneur. The one that is universal is lack of sleep. Personal sacrifices I’ve made include not always able to hang out with friends, missing family gatherings, and delaying starting a family.
Did you have to fire someone before? What’s the best way to go about it?
Yes, I had to fire a developer who was not delivering. I gave him warnings before and specifically spoke to the things that needed improvement or I would have to let him go. After no improvement, I thanked him for the work that he did do but told him it was best if we, as a company, parted ways with him.
What are some pros and cons of having (OR not having) entrepreneurial parents?
My parents are not entrepreneurs. The con is that they do not always understand and at times, I’m certain, think I’m crazy. A pro is that they are kind of on the journey with me because they aren’t entrepreneurs. In the end, everybody learns.