Maryland-based founder and CEO, Angel Wallace, created tipnpost, a cloud-based interactive software that connects restaurants, bar staff and management of all sizes to streamline the tip process, providing an efficient way to monitor, distribute, and report tips. Their enterprise software is changing the industry standard for both sides, staff and management, and it transforms the nightly tip process and reduces the burden on management.
Tell us about your company. What inspired you to start it?
I’ve spent over 15 years working in the Food and Beverage industry and experienced first-hand the inefficient, long, tedious, and complex process of accounting for tips. I got so frustrated with the process and set out to create an easier way to handle tips. I created a social hub for staff and management to connect online, serving as a place to share, organize and manage tips.
Who are your cofounders and what makes you a great team?
I am the sole founder and I have built a dedicated team that genuinely cares about our clients.
How is your company making a difference?
Billions of tip dollars pour into Restaurants and Bars yearly, all the while being monitored and reported using outdated paperwork and accounting practices. Restaurants and Bars are relying on tip information that may not be accurate, and/or managed properly. Unfortunately, failing to properly manage this information can expose owners and staff to legal risk and financial loss. tipnpost automates and helps manage the tip process. We focus on simplifying the process, providing these establishments an efficient way to handle tips, making it a cost-effective time saver for businesses. Everyone benefits from being able to share, organize, and manage tips — all in one place!
What are some of the challenges you have faced?
As a female entrepreneur of color, I face challenges and barriers not experienced by all. In my experience, women founders aren’t always given the same opportunities. Hopefully, this imbalance will shift status quo.
What is your biggest win?
One of my proudest moments is tipnpost product launch, and seeing my software being used by Restaurants and Bars looking for an effective tip management solution. It’s rewarding to see our clients using tipnpost DAILY and telling me the difference it makes when handling tips. I’m truly grateful for this huge milestone.
Who is your role model?
It’s not just one — I have several people who have inspired me over the years, in business and personally as well. I’m inspired everyday in so many ways and it’s reflected in the choices I make. Above all, they encourage me to live my best life, because at the end of the day, that’s all that matters, is a life well-lived.
What do you wish you had known before starting your company?
You can’t do everything yourself. There’s a saying, it takes a village to raise a child. I learned the same principle applies in starting a company. While building a company may start out as a solo venture, at some point it’s the collaboration of so many that helps it blossom. It’s important to know your strengths, know your weaknesses, and find the right people to excel in areas that you may not.
What has been your experience with FFA?
I quickly learned the Female Founders Alliance (FFA) is a welcoming community of talented and resourceful women. It’s a give and take, women helping women. FFA is breaking down barriers, all the while providing Female Founders with the necessary tools and resources to ensure success. I think it’s amazing that so many women have come together in support of one another.
Anything else you want people to know?
Be patient, success isn’t built overnight. You have to be willing and committed to go the distance － one step at a time. On the path to achieving your desired level of success, you’ll realize the journey along the way is the most rewarding.
