Denise Woodard

Failure & Risks - An Upside Down View on Entrepreneurship & VC

July 25th

Denise is the Founder and CEO of Partake Foods, a natural food company that was inspired by her daughter’s experience with food allergies. Launched in 2017, Partake’s first product — delicious, better for you, allergy-friendly cookies — can now be found in more than 14,000 retailers including Target, Kroger, and Whole Foods Market. Partake's offerings have since expanded to include graham crackers, vanilla wafers and pancake & waffle mixes.

Denise is the first Black woman to raise more than $1 Million publicly for a CPG food startup. To date, the company has raised over $25M from investors including HER, Rihanna, CircleUp Growth Partners, FF2032 and Marcy Venture Partners. Partake was named #151 on the Inc 5000 list in 2023.

Prior to launching Partake, Denise spent a decade in consumer packaged goods at various Fortune 100 companies. She is also the founder of 501c3, Black Futures Fellowship, an annual program that matches active HBCU students with paid internships in the CPG food & beverage industry. She lives in Los Angeles with her husband, Jeremy, and daughter, Vivienne. She graduated with her BA from the University of North Carolina at Chapel Hill and an MBA from Arizona State University.

Ansley Carlise

Ansley Carlisle is an Investor at Mark Cuban Companies in Dallas, Texas. She manages deal sourcing and due diligence across several industries and supports portfolio companies with operational, sales, and financing needs. She is also active in local and national venture communities, serving as a volunteer and mentor with organizations including Venture Dallas, Black Ambition, and Black Women in Venture Capital. Prior to her current role, Ansley worked as an Environmental Engineer at ExxonMobil in Houston, Texas. There, she supported environmental business planning and permitting to drive environmental protection and regulatory compliance. Ansley earned a B.S. in Chemistry from Spelman College and a B.S. in Environmental Engineering from Columbia University.

Module 3: Failure & Risks - An Upside Down View on Entrepreneurship & VC

This session aims to reshape your perspective on failure and risk-taking, emphasizing their critical roles in achieving success in entrepreneurship, venture capital, other professional careers.

Our esteemed guest speakers include the founder of Partake Foods and an investor (to be confirmed). They will share their personal experiences and insights, demonstrating how embracing failure and smart risk-taking can propel you both professionally and personally.

Key topics to be covered in this module include:

  • Redefining Failure: Understanding failure as a stepping stone to success.

  • Smart Risk-Taking: Identifying and managing risks in entrepreneurship and VC.

  • Resilience and Adaptability: Building the mindset to thrive in uncertain environments.

  • Real-Life Experiences: Lessons learned from the founder of Partake Foods and insights from an experienced investor.

Assignments:

Please note that assignments are not collected or graded. We encourage you to complete each assignment to receive the most from this program.

  1. Watch Movie Pass, Movie Crash on Max. (Sign up for a free trial to watch. Please email us if you’re unable to get access.)

    • Trivia: Which HBCU did one of the co-founders attend?

  2. Meet with your assigned small group to discuss the movie and the below discussion questions?

    1. Risks: MoviePass took bold risks in its business model, such as offering unlimited movie tickets for a flat monthly fee. What were the potential benefits and drawbacks of this strategy?

    2. Failure: MoviePass faced significant challenges and eventually shut down despite early success. What were the key factors contributing to MoviePass's failure?

    3. Learning from Failure: In what ways can the story of MoviePass serve as a case study in learning from failure?

    4. Ethical Considerations: Beyond risks, what ethical considerations did MoviePass face in its operations? How did these ethical challenges impact the company's ability to succeed?

    5. Personal Risk-Taking: Reflecting on the individuals involved in MoviePass, such as founders, executives, and investors, what personal risks did they take? How did their willingness to take risks affect their careers and reputations?

    6. Applying Lessons: How can the lessons learned from MoviePass's rise and fall be applied to future entrepreneurial endeavors or investment decisions? What steps can entrepreneurs take to balance innovation and risk while increasing the likelihood of success?

Questions for Self-Reflection:

To make the most out of this module, we encourage you to reflect on the following questions:

  1. Understanding Failure:

    • How do I currently perceive failure, and how can I reframe it as a learning opportunity?

    • What are some of the most significant failures I have encountered, and what have I learned from them?

  2. Risk-Taking:

    • What risks have I taken in my academic or professional life, and what were the outcomes?

    • How can I develop a more calculated approach to taking risks in my career or entrepreneurial endeavors?

  3. Resilience:

    • How do I typically respond to setbacks or failures? What strategies can I employ to improve my resilience?

    • In what ways can I cultivate a growth mindset to better navigate challenges and uncertainties?

  4. Learning from Others:

    • What lessons can I draw from the experiences of successful entrepreneurs and venture capitalists who have faced failures?

    • How can I apply these lessons to my own career path or business ventures?