Startups: The Rising of Women Entrepreneurs

"Rosie the Riveter", "We Can Do It!"More and more women are being called entrepreneurs in today’s marketplace. Last week I was able to attend the NYU ‘Women in Startups’ panel, which featured four NYC based entrepreneurs who shared their experiences and advice with an eager crowd of students. Speakers from startups included: SpotOn, Go Try It On, aut faciam, and Rent the Runway. It was a phenomenal panel, packed with stories, advice, and enthusiasm for the love of entrepreneurship.

Here at Whiting Consulting, we are approaching our 10 year celebration of entrepreneurship as a woman owned business. Along with celebrating our 10th anniversary soon, we are celebrating the ideas and inspirations of female entrepreneurs in the startup space. During college, I never would’ve thought that I would be working in the startup space. Once I fell into working with startups, I had never seen so much passion before for an idea someone has. It’s very refreshing to see and hear everyone’s enthusiasm, especially attending startup events down in New York City. Many of the women within the startup space have inspired me and helped me come to the realization of the difference we can all make in the economy for pursuing a small spark that’s burning inside, eager to make a difference in the tech community.

In a recent Fast Company article, Women-Led Startups are the Key to New Job Creation, only 35% of startup business owners are women. Marissa Evans of Go Try It On, stated that more and more women are becoming business owners, and becoming better at what they do.  Rent the Runway’s, Jennifer Fleiss, believes that this percentage will increase to over 50% in the next five years.

In the article, it stated that women don’t have the same network and role models as men do in the steps of starting their own companies. I asked some of the following panelists who their role models were when they were going through the startup process.

Gauri Manglik of SpotOn, said that Art.sy founder, Carter Cleveland, was her role model. She found some inspiration from him, because they are around the same age. Gauri was also looking at Apple and Instagram products as guidance, and how they’ve become established in the marketplace.

Marissa Evans sees any entrepreneur who contributes and gives back to the community by speaking to alumni as a role model. Her top pick is Twitter founder, Jack Dorsey, because of the great success of growth in his company.

Jennifer Fleiss was very fortunate to have great mentors along her journey which include: Carley Roney, founder of TheKnot.com, Dan Rosenweig, CEO at Chegg, and Marc Lore, Co-founder of Crunch Base. What helped made Jennifer’s journey a success was teaming up and having a great partner along the way.

All of these ladies had someone that inspired them. I believe anyone can go where they want to go, as long as they have some sort of inspiration to help them along the way. I also think that having the same network as everyone else isn’t going to make or break your startup. It’s how you leverage your network to get where you need it to go.

At the NYU panel, I asked these ladies what advice they could give to other women who want to start their own courageous path. Everyone’s overlaying message was: Learn everything you possibly can, and just go out there and do it. The best thing is to expose yourself, read blogs, and be open to new ideas.

Alexis Goldstein of aut faciam, told the audience that if you have an idea and see a particular need not being fulfilled by anyone else, give it a shot. It’s okay not to succeed at times, but you have to be able to make a decision to believe in yourself.

Other times you need to make risks, and think how it’ll benefit you in the long-run. Jennifer Fleiss and her co-founder, agreed to never write a business plan, because starting a business should be about tests and risks, then growing from what you’ve learned:

“In my opinion, there are four keys to success that I discovered early on that were fundamental to Rent the Runway’s launch that can easily be applied to other business models: (1) Test the Marketplace, (2) Show by Example, (3) Build a team, and (4) Realize that “No” means “Not Right Now.” …Starting a business is a series of iterative tests. Each test eliminates some of the risks of starting one. It is best to just believe in yourself and jump right into it, test it out, and grow by learning.”

The experiences and advice the ladies on the panel shared were very captivating and inspiring for the audience. The tech scene is a welcoming community, and will be seeing more and more women take the stage in startups. Any woman who has an idea should let their dreams run wild with it. Estee Lauder summed up her experience that can apply to any woman with a spark for an idea to pursue: “I didn’t get there by wishing for it or hoping for it, but by working for it.

Photo credit: Wikipedia.com

Post written by Julie Skowronek, Assistant Marketing Manager at Whiting Consulting.

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