Founders in Five: Nicola Taylor

Nicola Taylor is the co-founder (together with Josh Taylor) of successful fin-tech company Tax Traders and new venture Taxi. Nicola is passionate about equity in the tax system and business as a force for good.

‍What do you wish you had known before becoming a founder?

I wish I'd known that things often take longer than you think they might and that every start-up founder, at some point, considers that they have made a terrible mistake and should never have done this! But this is OK, and you should (most of the time) keep going!

‍What's the most useful advice you've ever received [and followed]?

On my 21st birthday my Dad wrote me a letter, including this advice "Neither be flattered by the world's praise, nor flattened by its criticism" with the sense that knowing who you are is a great gift and I have carried this with me. The other piece of useful advice (also gifted to me) that has shaped me is "Mā te ngākau aroha koe e ārahi" - let your decisions be guided by love.

‍And the worst? [Followed or not]

Some of the worst advice I have received is "Keep your emotions out of your decision-making," "Maybe don't be too "female" in your leadership approach," and "Maybe don't care so much." Bad advice. Do not follow it!

‍What do we need to do to take the NZ startup ecosystem to the next level?

We need to think bigger, think broader and think better! The way that we conceptualize start-ups in NZ is still much narrower than it could be and we see this show up in our ecosystem in a few ways such as; (1) our overwhelming preference for tech, (2) a relative lack of diversity in the funding pathways (including the criteria we use!), and (3) an overly formulaic approach to growth and investment timelines. I believe that despite the best of intentions, this narrowness places real limits on our start-ups. It constrains their ability to pursue real purpose, to solve meaningful problems, and to carry the grander ambitions that we need if we want to break through to the next level.

‍What's the hardest thing about being a founder?

I love being a co-founder and consider it a daily privilege to create the culture, imagine the products, and care for the people in a way that reflects who I am. If pushed on a hard thing, I would say it's hard knowing that my very human mistakes can negatively impact the lives of those around me. Also, there's a fair share of sacrifice and heartbreak that goes on that is mostly unseen and it's hard for anyone to truly understand this or what those early days are like.

‍Your favourite coffee

Just a flat white thanks.