In today's Wantrepreneur to Entrepreneur Spotlight, we're featuring Monica Tsai, the innovative founder of CloudMind. Monica's journey from gaming industry executive to AI pioneer showcases her commitment to tackling global loneliness. With CloudCare, an AI companion app, she's revolutionizing support for memory loss patients and caregivers. Prepare to be inspired by an entrepreneur using AI to ensure no one feels alone.
Hi, Monica! Thanks for joining us today. Tell us about your business. Who do you serve, how do you serve them, and what's the impact that your business and work makes?
Imagine a world where loneliness is a thing of the past, thanks to a trusted digital companion always ready to engage and support. That’s our vision at CloudMind with our AI companion app, CloudCare. CloudCare is a conversational AI that offers continuous, compassionate companionship. Our initial focus is on supporting memory loss patients and their caregivers.
Tell us about the moment you finally felt like you went from wantrepreneur to entrepreneur.
The first time when I pitched publicly about the business, I had the realization that, "wow - this is really happening!"
Describe the moment or period in your life/career that motivated you to make the entrepreneurial leap.
When I was working as the Chief of Staff at Kabam, I was given the opportunity to see how a business operates. My parents are also entrepreneurs and growing up observing that also inspired me to become one.
Describe a tool, service, or software that has been a game-changer for your business. How does it contribute to your success?
Calendly has helped me tremendously to manage my calendar. The advancement in AI technology and LLM certainly helped to push our business further than where it would have been.
We know that success is very often a non-linear path. Tell us about a failure, pivot point, or lesson that changed your course or direction and helped to get you where you are today.
In retrospect, I have made some interesting, non-linear choices throughout my career. The biggest pivot point for me was when I left a well-compensated position to focus on my doctoral degree and to test myself on being an independent consultant. This move gave me the insights of myself that I didn't know existed.
What unconventional strategy did you employ that significantly impacted your business?
I don't know if it was unconventional but it certainly was pushing us outside of our comfort zone. A lot of times, we want to make sure we perfect our product before showing it to the world. With CloudMind, we decided to get our Minimal Viable Product (MVP) in the hands of target users. It was nerve-wracking since we only had one chance for the first impression. At the same time, it gave us a lot of actionable insights and data that we could use to improve our product further.
What’s something you wish you knew sooner that you’d give as advice for aspiring or newer entrepreneurs?
If you're not someone who is financially savvy, definitely educate yourself and improve your financial literacy.
Want to dive deeper into Monica's work? Learn more on the links below!
