Let’s talk Women Entrepreneurs
This week in NY Magazine one of the articles is called Bubble Boys. A piece on a few young men men who hope to be the next Zuckerberg. The knee jerk reaction from many people is why just men, aren't there any women out in Silicon Valley building businesses from scratch and coding until 3am. But more to the point is when is NY Magazine going to actually write an article about all the women entrepreneurs in NYC who are growing businesses, gaining traction, getting funded and creating local economies here in the town they write about. Is it that difficult to do that piece? It sure as hell would be a lot more powerful and create a significant buzz in the street. Maybe the editors at NYMag believe that going out to Silicon Valley and finding young men who are coding until 3am at Stanford University isn't that hard to find so it is an easy article. Guess what, it isn't that hard to find impressive women entrepreneurs in NYC either. We were easily able to fill 30 seats of panelists at the Womens Entrepreneur Festival for January. Maybe NY Magazine should send one of their writers out to cover it.
There was a tweet this week that caused quite an uproar in the womens community. A woman tweeted out that she wanted women to stop making start-ups around fashion, beauty and making babies. There is no doubt many. I have seen plenty myself. Many of them in the fashion world are doing the exact same thing attempting to build a better mousetrap or help the old school retailers do a better job of selling their products. These businesses make a small percentage for that lead gen which does not compute into a large scale revenue model. That is the part I find frustrating.
Women tend to build businesses that fill voids in their lives. Doesn't mean there aren't women thinking about disruptive businesses that affect people globally but in general women do lean towards creating platforms that they want to use themselves. I am a huge fan of the woman entrepreneur. Many are great managers, create good environments, think deeply about the brand and the product and I could go on and on. After all, women are different animals than men which is why I like to see balanced gender businesses regardless of who is the entrepreneur.
Would I like to see more women create businesses that are not fashion or beauty based, yes. Are we seeing any men dip their toes into that vertical…not really. Yet if women don't, who will. Look at Birchbox, Gilt, Net-a-Porter and Rent the Runway to name a few that were all started by women and are substantial businesses. Let's not forget that. Who will be the game changer in the home decor business?
I so applaud what many women have created in the areas of fashion and beauty but I am very excited about many of the women that I am seeing now who are dipping their toes in to the water where men are not going like some content businesses and am also excited to see women businesses that have nothing to do with fashion, beauty or babies.
Here is my response to that tweet, does anyone ever tweet out that they want to see men stop creating large data driven back end tech platforms? The beauty of capitalism is that the cream will rise to the top. Women should keep creating new businesses because no matter what the vertical, there will be a few winners or perhaps many with niche businesses and that is what is going to help grow our economy.
As for NY Magazine…seriously, come on.