Fatima Zaidi, Founder and CEO of Quill Inc., shared her journey and insights as a female BIPOC entrepreneur in a recent interview with CanadianSME Small Business Magazine. Fatima discussed overcoming biases and structural barriers in the early stages of her business, emphasizing the importance of self-advocacy and recognizing one’s worth. She chose to bootstrap Quill Inc. to maintain creative control and focus on customer needs, offering valuable advice to other founders. Fatima also highlighted key trends in podcasting, including the integration of podcasts into marketing strategies, the rise of video content, and the innovation in podcast formats. Additionally, she stressed the significance of corporate philanthropy in employee retention and the importance of building a solid network and hiring driven individuals for business success.
Fatima Zaidi is the Founder and CEO at Quill Inc., an award-winning production agency specializing in corporate audio, and CoHost, a podcast growth and analytics tool. As a member of the National Speakers Bureau, Fatima has spoken at various events around the world on media and tech trends leading her to keynote on world stages alongside speakers like Gary Vaynerchuk. In addition to being a commentator for BNN Bloomberg on the challenges that female and BIPOC founders face in entrepreneurship, she is a frequent contributor to publications including The Globe and Mail, and Huffington Post, and has also been featured in publications like Forbes and Entrepreneur. Over her career Fatima has won two Top 30 under 30 awards, DMZ’s Woman of the Year, the Young Professional of the Year by Notable Life, Veuve Clicquot’s Bold Future Award, The Women in Content Marketing Award, and one of Flare Magazine’s Top 100 Women. Quill was also listed in 2023 as one of the fastest growing companies by the Globe & Mail.
Outside of entrepreneurship Fatima teaches at the University of Toronto, and is Co-Chair of the #Tech4SickKids council for SickKids Hospital which is the second-largest pediatric research hospital in the world. She is on track to raise 25 million dollars to build a new emergency wing of the hospital, as well as fund some of the world’s biggest data and AI projects.
As a female BIPOC entrepreneur, can you share some of the unique challenges you faced when starting Quill Inc., and how did you overcome these obstacles?
After speaking with several investors in the early days of building Quill, I realized quite quickly that they had biases, whether conscious or subconscious, about what a successful entrepreneur should look like. During those meetings, I couldn’t shake the feeling I was there to fill a diversity quota. It felt like I was taking an opportunity away from someone who “looks more the part.” I overcame these obstacles by understanding that the system is flawed and that I can rise above these flaws by advocating for myself. I think many people have imposter syndrome — they don’t feel they deserve to be starting a company, running a business, growing a startup, or in a senior position. At the end of the day, we’re all the CEOs of our brands. I constantly remind myself that no one has any more right to be doing what I’m doing than I do—the only difference is that I went after what I wanted. The structural barriers that BIPOC entrepreneurs face are rooted in social issues, so it’s crucial to keep highlighting successful BIPOC entrepreneurs to inspire a future generation of BIPOC entrepreneurs.
In the early stages of Quill, you had to make decisions between bootstrapping and seeking venture capital. What influenced your choice, and what advice would you give to other founders facing similar decisions?
In the early stages of growing Quill, I decided between bootstrapping and seeking venture capital. While I felt I didn’t have much choice, I am grateful that I decided to bootstrap my company. I wanted to build Quill on my terms, without being dictated by investors. This decision gave me creative control and autonomy over key aspects of my business such as hiring, company culture, the direction we wanted to move in, and the speed at which we grew. Bootstrapping allowed me to enjoy the process without the pressure of answering to venture capitalists. This freedom has enabled us to focus on what truly matters: our customers. Often, when you bring on venture capitalists, their needs and direction take priority, which can detract from the time and energy you can dedicate to your customers. For other founders facing a similar decision, I would advise considering what kind of company you want to build and how you want to spend your time. If you are looking to maintain creative control while creating a unique culture and focusing on your customers, bootstrapping might be the right choice for you. It’s challenging but incredibly rewarding to see your company grow on your terms.
With your expertise in developing and growing branded podcasts, what key trends do you see shaping the future of podcasting, especially for corporate clients?
With my experience in developing and growing branded podcasts, I see several trends shaping the future of podcasting. Firstly, podcasts will be better integrated into a brand’s overall marketing strategy. Instead of existing on its own, podcasts will become a vital part of a holistic content plan. We are also more likely to see more roles within companies specifically focused on podcast marketing, reflecting its growing importance. Video is another trend that’s gaining traction. Brands will start adding a visual element to their podcasts, whether through full-length videos or short teasers and snippets. This can make the content more engaging and shareable. Lastly, we’ll see brands getting more creative with their podcast formats. The traditional 30-minute interview style might give way to more innovative and intentional uses of audio. This creativity will help brands stand out and better connect with their audiences.
Your company has seen significant benefits from embedding corporate philanthropy into its culture. How has this strategy helped with employee retention, and why do you think more companies should adopt similar practices?
Our philanthropic work has significantly contributed to employee retention, as my team feels a sense of pride and satisfaction in giving back to our communities. We’ve backed philanthropy into our core through volunteering, fundraising, and my work with #Tech4SickKids. I believe that any profitable business has the opportunity to give back to communities and do its part in trying to make a change, no matter how small. Companies should be giving back because they simply have the means to do so. By making philanthropy a foundation of their business, it sends a powerful message to existing employees, future employees, and customers.
Having been recognized with numerous awards and accolades throughout your career, what personal mantra or philosophy do you attribute most to your success, and what advice would you give to upcoming entrepreneurs striving to make their mark in media and tech?
Success often involves being in the right place at the right time, with luck playing a big part and a strong work ethic. Building a solid network is crucial for me, as offline interactions have the power to form stronger relationships. I’ve focused on surrounding myself with a community of founders, creatives, and innovators, and it has been pivotal in my success. The community extends beyond just my network and I always hire individuals who are the best in their industry and possess drive and resilience. That would be my advice to entrepreneurs striving to make their mark in tech. When hiring for your small business, look for folks with drive, work ethics, and a great attitude.
