{"id":87743,"date":"2020-03-08T23:02:11","date_gmt":"2020-03-09T04:02:11","guid":{"rendered":"https:\/\/news.medill.northwestern.edu\/chicago\/?p=87743"},"modified":"2020-03-08T23:02:11","modified_gmt":"2020-03-09T04:02:11","slug":"a-new-company-and-a-new-baby-drive-the-passion-in-one-of-chicagos-female-startup-founders","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/a-new-company-and-a-new-baby-drive-the-passion-in-one-of-chicagos-female-startup-founders\/","title":{"rendered":"A new company, and a new baby, drive the passion in one of Chicago\u2019s female startup founders"},"content":{"rendered":"

By Ruiqi Chen<\/strong>
\nMedill Reports<\/em><\/p>\n

The day after Borislava Baeva\u2019s new fitness subscription startup went live, she found out she was having a baby girl.<\/p>\n

The Chicago-based entrepreneur launched her fitness studio bundling service My Strong Circle last month after nearly two years of planning and preparation. She said she\u2019s always been motivated to succeed as a woman in the startup industry, but she became even more determined to be a strong role model after finding out she was having a daughter.<\/p>\n

Chicago has the world\u2019s highest proportion of female startup founders, according to research company Startup Genome\u2019s 2019 global report. Over a quarter of the city\u2019s estimated three thousand startups are founded by women compared to the worldwide average of 14%. Baeva said this level of representation was important for encouraging women to pursue their career ambitions.<\/p>\n

\u201cOnce you see women (in the industry), you feel like, \u2018Oh, I can do that. I belong here,\u2019\u201d she said.<\/p>\n

<\/p>\n

Baeva moved to the United States a decade ago from Bulgaria to study at DePaul University before working in corporate finance for nearly a decade.<\/p>\n

After being laid off in early 2017, Baeva began considering entrepreneurship in earnest. For the next two years, she focused on market research and refining her business idea, eventually honing in on Chicago\u2019s need for easier access to many different local fitness studios.<\/p>\n

My Strong Circle provides customers with the option of bundling memberships at different boutique fitness clubs in the city, so they have a greater variety of exercise options for a lower price. This business model, Baeva said, would also help smaller fitness studios create alliances with their indirect competition.<\/p>\n

\u201cI found this really compelling because it gives the most benefit for both fitness studios and the consumer,\u201d Baeva said.<\/p>\n

Like many other women entrepreneurs, Baeva decided to self-fund her startup with her personal savings from years in the finance industry. She said the stress of managing investors\u2019 money, along with her decision to have a baby, influenced her choice.<\/p>\n

\u201cI didn\u2019t want to feel responsible for other people\u2019s money,\u201d Baeva said. \u201cIf something were to go wrong and I need to dedicate 100% to being a mother, I wanted to have the freedom of saying okay, I have risked my own money and I can say I\u2019m pulling the plug.\u201d<\/p>\n

After My Strong Circle went live, Baeva pursued her first round of investor funding. She said additional funding will help with their efforts to continue to develop the software behind My Strong Circle.<\/p>\n

At the time of My Strong Circle\u2019s launch, it had around 20 fitness studios partnerships, which Baeva hoped to ultimately expand to 200 studio partners.<\/p>\n

\u201cBeing a dual-sided marketplace, I have a chicken-and-egg problem,\u201d Baeva said. \u201cBefore I can get a lot of paying customers, I need to have a lot of fitness clubs.\u201d<\/p>\n

She added that her priority has been to increase My Strong Circle\u2019s partnership network in the city so that consumers have more options.<\/p>\n

\u201cEntrepreneurship is just so much more creative and thrilling,\u201d she said, adding that she had often been the only woman and only immigrant in the office when she was working in finance.<\/p>\n

As an entrepreneur, Baeva has had the opportunity to meet a diverse group of women business owners and experience an environment very different from her corporate background.<\/p>\n

\u201cThat gives me a lot of motivation to keep going,\u201d Baeva said.<\/p>\n

Now, Baeva said she hoped to become the inspiration for her daughter that her own mother was to her.<\/p>\n

\u201cShe spent her career in operations in basically a slaughterhouse with rubber boots most of the time,\u201d she said, recalling how her mother was both passionate and firm in her job. Baeva said she admired the way her mother was direct in her instructions to the people she managed but also kind and loving to her family.<\/p>\n

\u201cI want to show (my daughter) that you can be both career-driven and you can also be a loving and caring person. You don\u2019t have to choose.\u201d<\/p>\n

Photo at top: Borislava Baeva, founder of fitness subscription startup My Strong Circle, at the coworking space in startup incubator 1871. (Ruiqi Chen\/MEDILL)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Ruiqi Chen Medill Reports The day after Borislava Baeva\u2019s new fitness subscription startup went live, she found out she was having a baby girl. The Chicago-based entrepreneur launched her fitness studio bundling service My Strong Circle last month after nearly two years of planning and preparation. She said she\u2019s always been motivated to succeed […]<\/p>\n","protected":false},"author":635,"featured_media":87744,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,4892],"tags":[],"class_list":["post-87743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-winter-2020"],"yoast_head":"\nA new company, and a new baby, drive the passion in one of Chicago\u2019s female startup founders - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/a-new-company-and-a-new-baby-drive-the-passion-in-one-of-chicagos-female-startup-founders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A new company, and a new baby, drive the passion in one of Chicago\u2019s female startup founders - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Ruiqi Chen Medill Reports The day after Borislava Baeva\u2019s new fitness subscription startup went live, she found out she was having a baby girl. 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