Mission Drives Profit

Carolyn Childers, co-founder of Chief, shares insights about building a successful community-based business that combines strong mission focus with profitable operations. The company has grown to nearly 15,000 members and achieved unicorn status ($1.1B valuation) by creating a vetted network for senior executive women.

Key Points:

• Mission-Driven Business Model:

  • Focused on driving more women into leadership positions and keeping them there
  • Takes 200+ years to reach gender parity in senior executive positions
  • Community-first approach rather than curriculum or space-led

• Business Structure:

  • Members pay $5,000-8,000 annually
  • Companies typically sponsor membership
  • Core groups of 10 members meet monthly with executive coach
  • Provides clubhouses, programming, and community product access

• Growth Strategy:

  • Started in NYC, expanded through word-of-mouth
  • 15,000 current members with 60,000 person waitlist
  • Pandemic enabled faster expansion through virtual offerings
  • Raised venture capital to accelerate mission, accepting some dilution

• Brand Positioning:

  • Intentionally "vetted" rather than "exclusive" or "elite"
  • Limited social media presence to maintain mystique
  • Focused on showcasing members rather than founders
  • Transformed perception of "women's professional network" from basic to aspirational

• Revenue Model Innovation:

  • "To-C-to-B" approach: Build relationship with individual who then gets corporate sponsorship
  • High corporate adoption due to comparison with traditional executive coaching costs ($30,000/6 months)
  • Planning to build direct corporate relationships to reduce burden on members

• Leadership Philosophy:

  • Prioritizes building great business over generating hype
  • Values mission alignment in partnerships and growth strategies
  • Believes combining profit with purpose creates lasting impact