http://www.theatlantic.com/business/archive/2012/07/the-having-it-all-debate-convinced-me-to-stop-saying-having-it-all/259284/
Did I not say stop using the term "having it all?" in my last point?
Thanks Anne-Marie for reading our judgements and understanding!
Thursday, July 5, 2012
Friday, June 22, 2012
Why Women CAN have it all
I'm sure every by now has read "Why Women Can't Have it All" by Anne-Marie Slaughter published in the Atlantic. Essentially, I'm furious.
I'm not going bother critiquing her whole piece, because I'm sure there are plenty of rebuttal articles being written as we speak. And I agree in her sentiment of life being difficult as a top member of the State Department while having children to care after. My ex-boyfriend was a diplomat, and there were plenty of nights where plans were canceled. One of our vacations was spent with him on the phone with members of the security council trying to get a resolution signed. Knowing this career path, I can agree that it's NOT practical to think that you can have the proper work-life balance. But from a male perspective, my ex used to say, "When people ask me how I manage to 'have it all', I just tell them I have an extremely patient girlfriend." Maybe Ms. Slaughter just didn't have an extremely patient husband and children. She touches on this later in her piece about finding "the right" person based on Sheryl Sandberg's sentiments. But I think it's important to note that Men struggle to "have it all" as well.
But I digress. I'm more horrified with the idea that:
Having it All = Successful Career + Husband + Children.
WHY does Ms. Slaughter assume that we all WANT a husband and children? And why does that automatically make us "successful" in the eyes of society?
Is it really a "sacrifice" not to have children? I think it is a "sacrifice" TO have children! I've often been stereotyped as "selfish" for potentially not wanting children. (I never say never...) But is it really selfish? I have many nieces and nephews, and I know what hard work children are. I've been exposed at a young age. I've seen how children CHANGE your life. I get gasps from mothers about how their children ARE their life, and how that's changed their life for the better. But honestly, you must give up a good 70% of yourself to be a parent. I know that in any relationship, you end up giving up a part of yourself, and the same goes for your children. You must CHANGE your life to be a wife or a parent.
I'm not quite sure I want to.
Maybe that makes me selfish. But I want to do what makes me happy. If I feel maternal, I go hang out with my nieces and nephews for a few days. If I need to feel loved, I'll start dating around or start a relationship. But I do those things to make me happy, and I know that if I don't get married or have kids, I can be JUST as happy and "have it all" in my own eyes.
My question back is just a simple if/then statement. IF I don't have a husband and/or children, THEN does that mean I can't have it all?
To me, my equation would look something like this:
Having it All = Successful Career + Being happy with my life decisions
By the end of the article she writes: "We will properly focus on how we can help all Americans have healthy, happy, productive lives, valuing the people they love as much as the success they seek"
Essentially that is in line with my ideals. But her main argument is still that "having it all" is based on an antiquated idea that we all must procreate in order to lead a "successful" life. I feel like I have it all - right now. And if I could stay this happy and positive about my current life through the future, maybe having a husband or kids isn't necessary.
I'm not going bother critiquing her whole piece, because I'm sure there are plenty of rebuttal articles being written as we speak. And I agree in her sentiment of life being difficult as a top member of the State Department while having children to care after. My ex-boyfriend was a diplomat, and there were plenty of nights where plans were canceled. One of our vacations was spent with him on the phone with members of the security council trying to get a resolution signed. Knowing this career path, I can agree that it's NOT practical to think that you can have the proper work-life balance. But from a male perspective, my ex used to say, "When people ask me how I manage to 'have it all', I just tell them I have an extremely patient girlfriend." Maybe Ms. Slaughter just didn't have an extremely patient husband and children. She touches on this later in her piece about finding "the right" person based on Sheryl Sandberg's sentiments. But I think it's important to note that Men struggle to "have it all" as well.
But I digress. I'm more horrified with the idea that:
Having it All = Successful Career + Husband + Children.
WHY does Ms. Slaughter assume that we all WANT a husband and children? And why does that automatically make us "successful" in the eyes of society?
Is it really a "sacrifice" not to have children? I think it is a "sacrifice" TO have children! I've often been stereotyped as "selfish" for potentially not wanting children. (I never say never...) But is it really selfish? I have many nieces and nephews, and I know what hard work children are. I've been exposed at a young age. I've seen how children CHANGE your life. I get gasps from mothers about how their children ARE their life, and how that's changed their life for the better. But honestly, you must give up a good 70% of yourself to be a parent. I know that in any relationship, you end up giving up a part of yourself, and the same goes for your children. You must CHANGE your life to be a wife or a parent.
I'm not quite sure I want to.
Maybe that makes me selfish. But I want to do what makes me happy. If I feel maternal, I go hang out with my nieces and nephews for a few days. If I need to feel loved, I'll start dating around or start a relationship. But I do those things to make me happy, and I know that if I don't get married or have kids, I can be JUST as happy and "have it all" in my own eyes.
My question back is just a simple if/then statement. IF I don't have a husband and/or children, THEN does that mean I can't have it all?
To me, my equation would look something like this:
Having it All = Successful Career + Being happy with my life decisions
By the end of the article she writes: "We will properly focus on how we can help all Americans have healthy, happy, productive lives, valuing the people they love as much as the success they seek"
Essentially that is in line with my ideals. But her main argument is still that "having it all" is based on an antiquated idea that we all must procreate in order to lead a "successful" life. I feel like I have it all - right now. And if I could stay this happy and positive about my current life through the future, maybe having a husband or kids isn't necessary.
Saturday, May 19, 2012
The Budget after 30 days...
Here it is!
Week 1:
Week 1:
Food/drink: $116.1
Transportation: $44.5
Misc: $104.24
Week 2:
Food/drink: $201.74
Transportation: $15
Misc: $8.43
Week 3:
Food - $87
Transportation - $0
Misc - $36.66
Transportation - $0
Misc - $36.66
Week 4:
Food - $131.60
Transportation - $50.10
Misc - $187.5
Transportation - $50.10
Misc - $187.5
TOTAL 30 DAYS:
Food - $536.44
Transportation - $109.60 +$104 (monthly subway pass) = $213.6
Misc - $336.83
Transportation - $109.60 +$104 (monthly subway pass) = $213.6
Misc - $336.83
Rent - $1850
Utilities - $60
Student Loans - $172.47
Computer loan - $92
-------------------------------------------------
TOTAL - $3261.34
Now if you remember, my budget for the month was $3406...SO I came in $144.66 under budget. The budget is working! I'm going to keep going even HARDER towards coming under and under!
Tuesday, May 8, 2012
Joanna Coles & Alexa Von Tobel: Inspiration
Last night I attended the first of a series of Marie Claire women at work discussions at Ruth's Chris Steak House.
The guest of honor was Alexa Von Tobel of Learnvest. She was interviewed by the fantastic Joanna Coles of Marie Claire, and the discussion was positively enlightening.
Now, I'm already an avid LearnVest reader, and you all know I'm already taking budgeting to a new level this month. But there were some fantastic tips and comments that Alexa made directly to the entrepreneurs in the room.
There was one comment she made that completely rang true to me about entrepreneurs:
"If you knew what it would take, you never would have started."
I've said this before and I'll say it again. I've risked A LOT becoming an entrepreneur. Namely, a chunk of cash that could have been spent on vacations, dinners, and shoes...oh...and TIME. I have zero of that as well. But the point is, things are always harder than we expect - but often - they have the best outcomes. Alexa dropped out of Harvard Business School and took the huge risk to start LearnVest.
What surprised me the most is, SHE DID IT ON HER OWN! After all of my whining about being a "solopreneur" and how the tech industry often doesn't take me seriously because I don't have a "team" - here is a fantastic example of a woman who started her own business, raised $1m on her own, and now has a thriving company that has raised over $25m in capital and is now valued at over $100m.
And Alexa said it flat out - "It was so EASY to raise my $20m round - it took 2 weeks. But the first $1 million? It took a little over 6 months, it was grueling, and definitely, the worst part about starting up."
Boy can I commiserate. It IS grueling. It's draining and it's exhausting. Even though Happily Ever BorroWED has proven sales and traction, it's still a major push to pitch your business over and over, defend yourself, prove your passion and sell yourself on a daily basis.
But being the eternal optimist that I am - here is a shining beacon of hope: Alexa Von Tobel! She put it all on the line. She painstakingly tried to prove her concept and raise money all on her own. And she did it. And she's thriving. She BELIEVED in her concept, and trusted her instincts...and now...she's succeeding.
I love attending events like these because just when you feel drained, and helpless and tired...you feel enlightened again. Hearing different women's stories of success is thrilling and inspiring! It ignites that little flame inside of you to a full on BONFIRE!
But also - on a more budgeting note - Alexa mentioned her 50/20/30 rule. This applies to your salary. 50% should go to rent, groceries, transportation and essentials. 20% should go towards your future, or paying off debt and 30% goes towards fun.
Well...in looking at my salary - this is about how mine breaks out.
My rent ALONE is 49% of my take-home salary...gee. $22,200/year
well then groceries are about $50/week x 52 weeks/year - $2600
subway pass - $104 x 12 = $1248
2 cabs per week = $30 x 52 weeks = $1560
= $27,608/year on ESSENTIALS
That is 61% of my take home salary. SO that means I have to give up 11% of either debt or fun...and guess where that comes off of...
So - 20% - $9100/year should go towards paying off debt. Well - if this includes personal AND business debt? We're in trouble here.
Which leaves the 30% of fun - 11% of over spending on essentials = 19% = $8645/year. Which is $720/month.
$720 a month on FUN?! Have I been spending that? We'll see at the end of the month!
Thanks to Alexa Von Tobel for providing some insight on how I should be budgeting. I don't think most women have their own business debt - which is what has put me in this tricky situation of saving every penny. But I am lucky to have a FT job - I am lucky to have little personal debt (besides school loans) - and I am lucky to have this FIRE inside of me that is ROARING to succeed.
And since I truly believe in my Inten-Sati mantras: "Every Day, in a very true way - I co-create my reality"
Tuesday, April 17, 2012
Breaking Down Your Budget_Startup Style
As I meet with more and more potential investors - I know the first question is "Why are you raising $X? What does it go towards?" But the underlying and sometimes second question is: "What Will you Pay Yourself?"
I was watching an episode of "Shark Tank" a few weeks ago, and one of the people pitching COULDN'T answer that question. He said "I'd be comfortable making 6 figures." Yes - well wouldn't we all. However, #startuplife is not about 6 figures. It's about bootstrapping, It's about drive. And mostly - about budgeting. While I still remain working FT - I can say that I still am on a strict budget, and a majority (ok...all) of my savings have gone towards business expenses. Do I still have debt? Of course. And when I eventually take the leap and leave my FT job for my 2nd FT job (Happily Ever Borrowed is NEVER a PT job), I won't have savings. I'll have even more budgeting to do!
I've decided that I will not leave my FT job until I am funded. Some investors may scoff at this - but I'm a practical person. This is not because I'm not a risk taker. Emptying my 401K and life savings to start HEB was a risk. Putting every extra cent I have towards my business, is a risk. And this business might not be here today if I hadn't continued to work and put all of my extra income towards it. When I look at my expenses from the past year I am AMAZED at what I've spent. There are times when I say, "WHAT AM I DOING?" This is tens of thousands of dollars that I could have bought multiple handbags, vacations and clothing with! But I'm investing in myself. I'm investing in my business. I'm investing in my future, even if the return does not seem so great right now.
So let's break it down together - so I know - HOW MUCH - I will pay myself when I get funded. This is quite personal - who else is going to show you this?
Rent - $1850 (a steal for a studio in NYC might I add...)
Utilities - $60 (I don't have cable...huge savings)
Student loans - $172.47
Computer Payment Plan - $92 (5 more months to go here)
Food - $369.28 (This was from February...a short month)
Transportation: $199.65 (Monthly metro card + taxis + train rides to LI to visit the family)
Misc - $443.33 (Shopping, Toiletries, Book addiction etc.)
------------------------------------------
TOTAL: $3186 for the Month of February.
Ok - So let's add an extra 2 days for an average month - $3406.
So $3406 x 12months = $40,869
Let's add in $5k for emergencies - extra trips, unanticipated costs etc.
GRAND TOTAL SALARY: $45,869
I consider this to be extremely reasonable, and actually, quite comforting. Mind you, this is with me saving NOTHING for my future. However, if that emergency fund doesn't get used, straight to funding it goes.
What's even MORE shocking to me is this is A LOT less than what I get paid now. While I won't disclose that number, this means that A LOT more money should be going towards my business while it still can.
Staring May 1st - I'm going to put myself on an extreme spending diet. (Maybe I'll physically diet as well...food costs money) I'll track it all with you, together - and we can see how I cut my costs week by week. Note - the Hermes employee sale is during the month of May....we'll see if I survive.
I was watching an episode of "Shark Tank" a few weeks ago, and one of the people pitching COULDN'T answer that question. He said "I'd be comfortable making 6 figures." Yes - well wouldn't we all. However, #startuplife is not about 6 figures. It's about bootstrapping, It's about drive. And mostly - about budgeting. While I still remain working FT - I can say that I still am on a strict budget, and a majority (ok...all) of my savings have gone towards business expenses. Do I still have debt? Of course. And when I eventually take the leap and leave my FT job for my 2nd FT job (Happily Ever Borrowed is NEVER a PT job), I won't have savings. I'll have even more budgeting to do!
I've decided that I will not leave my FT job until I am funded. Some investors may scoff at this - but I'm a practical person. This is not because I'm not a risk taker. Emptying my 401K and life savings to start HEB was a risk. Putting every extra cent I have towards my business, is a risk. And this business might not be here today if I hadn't continued to work and put all of my extra income towards it. When I look at my expenses from the past year I am AMAZED at what I've spent. There are times when I say, "WHAT AM I DOING?" This is tens of thousands of dollars that I could have bought multiple handbags, vacations and clothing with! But I'm investing in myself. I'm investing in my business. I'm investing in my future, even if the return does not seem so great right now.
So let's break it down together - so I know - HOW MUCH - I will pay myself when I get funded. This is quite personal - who else is going to show you this?
Rent - $1850 (a steal for a studio in NYC might I add...)
Utilities - $60 (I don't have cable...huge savings)
Student loans - $172.47
Computer Payment Plan - $92 (5 more months to go here)
Food - $369.28 (This was from February...a short month)
Transportation: $199.65 (Monthly metro card + taxis + train rides to LI to visit the family)
Misc - $443.33 (Shopping, Toiletries, Book addiction etc.)
------------------------------------------
TOTAL: $3186 for the Month of February.
Ok - So let's add an extra 2 days for an average month - $3406.
So $3406 x 12months = $40,869
Let's add in $5k for emergencies - extra trips, unanticipated costs etc.
GRAND TOTAL SALARY: $45,869
I consider this to be extremely reasonable, and actually, quite comforting. Mind you, this is with me saving NOTHING for my future. However, if that emergency fund doesn't get used, straight to funding it goes.
What's even MORE shocking to me is this is A LOT less than what I get paid now. While I won't disclose that number, this means that A LOT more money should be going towards my business while it still can.
Staring May 1st - I'm going to put myself on an extreme spending diet. (Maybe I'll physically diet as well...food costs money) I'll track it all with you, together - and we can see how I cut my costs week by week. Note - the Hermes employee sale is during the month of May....we'll see if I survive.
Wednesday, March 28, 2012
Finding Inspiration through Travel -Israel
I've returned from my trip to Israel with a renewed sense of spirituality, enlightenment and overall joy. But most of all, I've returned with inspiration. Of course I found inspiration in the land and the people of Israel - but mostly, I found inspiration in the people that I traveled with.
Birthright is this amazing gift that is given to young American Jews. We are given the opportunity to travel for 12 days to a land that our ancestors DREAMED of (they say this continually throughout the trip) - but it really does ring true. We should never take for granted the fact that a whole bunch of rich, Jewish Americans decided that it's important for us to visit our homeland and discover our roots...for FREE. From ages 18-26, we're encouraged to travel back to Israel, see Jerusalem, Haifa, Tel Aviv, the border of Gaza, and find some spiritual renewal. For me, I'm already spiritually renewed. I actually officially converted to Judaism a little over a year ago after being raised Catholic and hating it the entire time. At 12 years old I was asking my parents why I couldn't be Jewish. (Their response was, you can choose whatever religion you want when you're an adult...and I did) Of course seeing the Western Wall and visiting Yad Vashem was meaningful for me in finding my faith. But the entire time, I found myself still thinking about my business (obviously) and also learning from the other people in my group what an amazing, talented, group we were.
First off, I was inspired by the group of people who lived so freely. People who found work where they traveled, nomads who created their destiny wherever they ended up. My neurotic New Yorker nature would have a hard-time with this lifestyle, but of course, I envy it. The ability to just live care-free and say, "I can find work where I go, I can make something of myself, and I can see the world while doing it." PLENTY of entrepreneur's take this exact risk. They drop their neuroses, quit their jobs and LIVE by believing in themselves, and their aspirations. I'm still moonlighting, and teetering on the edge of letting go. Being in Israel definitely reminded me that there is so much in the world to see, and often, work holds you back from that.
Then there were the artists & musicians & actors. There was Dom who has been touring with his band since he was 13 years old, Maxx who was humble about his background but actually has a quite intense reel of movies he's been in, and Meghan who is doing some fantastic photography and videography work in NYC. These are people - living their dreams. We're often all so scared of taking the leap and saying, "I love [art/music/poetry], but I could never make a living doing it - I'll go sell something instead." I did this. I loved art. I loved fashion design. But after college - I said, "I'm going to be practical", and I found a job in merchandise planning. Am I regretful? No. I've always been practical, I enjoy making money, and quite frankly, I enjoy living the lifestyle that I'm able to do with a steady job. But again - there is this pull - this energy- that is telling me, there is more to life than money, and some SATC lifestyle that you aspired for at a young age. I'm not so sure that it was Israel, or my Judaism that made me realize this. It was the people I was with. I was INSPIRED by their strength and dedication to their passions.
Finally, there were the soldiers. The men and women who from 18 years old are forced to spend 2-3 years serving their country in the IDF. I could spend days writing about how inspiring it is to see EVERY citizen (or nearly every citizen) have to help their country succeed through the military. I think it matures you quickly, and gives a well needed break from school before heading back into college. It helps you realize where your passions lie, what you want to commit to, and what life is really all about. It's INSPIRING to see young people have such a love for their country. I wish more Americans loved what we are given.
And then there are the conversations that we had. The awe inspiring, meaningful, life-changing discussions that helped us to realize our hopes and dreams. While traveling through this awesome, gorgeous, beautiful, country - we were encouraged to share our feelings (sometimes more thoughts than we wanted, or really needed to know) and it was so beautiful to hear everyone talk so candidly about their emotions, their dreams, their fears, their aspirations, their failures and their lives.
So here is how I'm going to take my inspirations from Israel back to my life in NYC:
Travel MORE. Take your vacation, see how others live, and grow from it. Traveling puts your life into a different perspective, makes you realize things you didn't see before, and can create amazing opportunities for growth (emotionally, physically, spiritually - AND in your business!)
Take more RISKS: In my personal life, I've taken a risk. I leaped, I fell and I'm happily climbing upwards. But in my business, I am still standing at the edge, not quite ready to jump. I'm not going to jump until I'm ready, but I'm certainly closer to the edge than I was before.
Believe in Yourself - Now it's not that I didn't believe in myself before. I DID! But often, when you see other people fulfilling their dreams, it pushes you to trust yourself even more. Know thyself, know what's right, and know that whatever happens, it is meant to be. You must be your biggest cheerleader, or your neurotic New Yorker will get in your way.
Make New Friends, But Keep the Old - It was astonishing to me that I could grow so close to people in a period of 12 days. I learned a LOT about friendship and trust through this trip. Sometimes, your new friends have your back more than your old do. But often times, your old friends might know what's best for you. Even if it doesn't seem like they have your best interest at heart at first, think on a grander scheme. Your friends are all there for you for a reason.
My horoscope the day before I left said "You will meet someone in your travels who will change your life." I can honestly say that Yes - there was someone who changed my life. But in the broader perspective I met over 50 people who changed my life. In fact, I think the person who changed my life was ME. I was confronted by my truest, most honest self - who reflected back at me and said: "Change your Life". I'm SO glad I did, and I can't wait to see what life (and travels) bring me next.
Birthright is this amazing gift that is given to young American Jews. We are given the opportunity to travel for 12 days to a land that our ancestors DREAMED of (they say this continually throughout the trip) - but it really does ring true. We should never take for granted the fact that a whole bunch of rich, Jewish Americans decided that it's important for us to visit our homeland and discover our roots...for FREE. From ages 18-26, we're encouraged to travel back to Israel, see Jerusalem, Haifa, Tel Aviv, the border of Gaza, and find some spiritual renewal. For me, I'm already spiritually renewed. I actually officially converted to Judaism a little over a year ago after being raised Catholic and hating it the entire time. At 12 years old I was asking my parents why I couldn't be Jewish. (Their response was, you can choose whatever religion you want when you're an adult...and I did) Of course seeing the Western Wall and visiting Yad Vashem was meaningful for me in finding my faith. But the entire time, I found myself still thinking about my business (obviously) and also learning from the other people in my group what an amazing, talented, group we were.
First off, I was inspired by the group of people who lived so freely. People who found work where they traveled, nomads who created their destiny wherever they ended up. My neurotic New Yorker nature would have a hard-time with this lifestyle, but of course, I envy it. The ability to just live care-free and say, "I can find work where I go, I can make something of myself, and I can see the world while doing it." PLENTY of entrepreneur's take this exact risk. They drop their neuroses, quit their jobs and LIVE by believing in themselves, and their aspirations. I'm still moonlighting, and teetering on the edge of letting go. Being in Israel definitely reminded me that there is so much in the world to see, and often, work holds you back from that.
Then there were the artists & musicians & actors. There was Dom who has been touring with his band since he was 13 years old, Maxx who was humble about his background but actually has a quite intense reel of movies he's been in, and Meghan who is doing some fantastic photography and videography work in NYC. These are people - living their dreams. We're often all so scared of taking the leap and saying, "I love [art/music/poetry], but I could never make a living doing it - I'll go sell something instead." I did this. I loved art. I loved fashion design. But after college - I said, "I'm going to be practical", and I found a job in merchandise planning. Am I regretful? No. I've always been practical, I enjoy making money, and quite frankly, I enjoy living the lifestyle that I'm able to do with a steady job. But again - there is this pull - this energy- that is telling me, there is more to life than money, and some SATC lifestyle that you aspired for at a young age. I'm not so sure that it was Israel, or my Judaism that made me realize this. It was the people I was with. I was INSPIRED by their strength and dedication to their passions.
Finally, there were the soldiers. The men and women who from 18 years old are forced to spend 2-3 years serving their country in the IDF. I could spend days writing about how inspiring it is to see EVERY citizen (or nearly every citizen) have to help their country succeed through the military. I think it matures you quickly, and gives a well needed break from school before heading back into college. It helps you realize where your passions lie, what you want to commit to, and what life is really all about. It's INSPIRING to see young people have such a love for their country. I wish more Americans loved what we are given.
And then there are the conversations that we had. The awe inspiring, meaningful, life-changing discussions that helped us to realize our hopes and dreams. While traveling through this awesome, gorgeous, beautiful, country - we were encouraged to share our feelings (sometimes more thoughts than we wanted, or really needed to know) and it was so beautiful to hear everyone talk so candidly about their emotions, their dreams, their fears, their aspirations, their failures and their lives.
So here is how I'm going to take my inspirations from Israel back to my life in NYC:
Travel MORE. Take your vacation, see how others live, and grow from it. Traveling puts your life into a different perspective, makes you realize things you didn't see before, and can create amazing opportunities for growth (emotionally, physically, spiritually - AND in your business!)
Take more RISKS: In my personal life, I've taken a risk. I leaped, I fell and I'm happily climbing upwards. But in my business, I am still standing at the edge, not quite ready to jump. I'm not going to jump until I'm ready, but I'm certainly closer to the edge than I was before.
Believe in Yourself - Now it's not that I didn't believe in myself before. I DID! But often, when you see other people fulfilling their dreams, it pushes you to trust yourself even more. Know thyself, know what's right, and know that whatever happens, it is meant to be. You must be your biggest cheerleader, or your neurotic New Yorker will get in your way.
Make New Friends, But Keep the Old - It was astonishing to me that I could grow so close to people in a period of 12 days. I learned a LOT about friendship and trust through this trip. Sometimes, your new friends have your back more than your old do. But often times, your old friends might know what's best for you. Even if it doesn't seem like they have your best interest at heart at first, think on a grander scheme. Your friends are all there for you for a reason.
My horoscope the day before I left said "You will meet someone in your travels who will change your life." I can honestly say that Yes - there was someone who changed my life. But in the broader perspective I met over 50 people who changed my life. In fact, I think the person who changed my life was ME. I was confronted by my truest, most honest self - who reflected back at me and said: "Change your Life". I'm SO glad I did, and I can't wait to see what life (and travels) bring me next.
Friday, February 24, 2012
Wed-Tech: A New Subset Struggling to be Heard
Wed-Tech.
It's a term we coined ourselves...and by we, I mean the dozens of bridal technology start-ups here in NYC. As I was meeting with fellow entrepreneurs talking about my own start-up, Something Borrowed NY, I had so many conversations about the wedding space and how antiquated it is. The most obvious conversation was how The Knot, formally known as "the" e-commerce resource for weddings, is a mess. Their content is haphazard and organized in a manner that is unhelpful to brides planning their weddings, their vendor matrix is based on who pays the most money to get a higher listing, and their parent company, XO Group, is too concerned with rapidly expanding their other brands and their IPO than concentrating on moving forward with bridal technology.
With the current surge in Wed-Tech companies, I decided to get us all together. There were too many meetings I had with people doing similar "iterations" for us NOT to talk about it. No one (and I say this lovingly), has gotten it "right" yet - besides Pinterest. And the reason they're such geniuses, and the number one fastest growing website of all time, is because they didn't limit themselves to just weddings. They were able to capitalize scrapbookers, fashion lovers, dog lovers, cat lovers...any lover of anything to just compile their inspiration pictures in an organized manner. I can speak for my own business and say that my Pinterest has surged to become the #4 traffic driver to my site based on the fact that when people type in "bridal accessories" - I pop up, they pin, and they are directed to my business.
The continuing dichotomy I struggle with is wedding business vs. tech business. Quite frankly, the tech industry doesn't understand weddings unless it's super sexy with algorithms and an app, and the wedding industry doesn't get tech unless it's super user-friendly and picture based. There have been a FEW companies who I've seen be funded by the tech world that have a wedding focus; Tailored (formally known as Dress Rush), Lover.ly and Wedding Lovely to name few. All of these businesses are essentially picture search engines to help you more easily find vendors and inspiration. They all have different ways of doing it - but they're essentially sharing a common thread. So when other start-ups that are trying to disrupt (BridesView, Neat Weddings, myself, Knot a Registry, Little Borrowed Dress, etc.), we're automatically lumped into this "wedding space" that the tech world already sees as "flooded".
So if tech isn't interested - how about the wedding giants? This is the way The Aisle NY went. Shara Levy and David Yassky paired with well known bridal giants Mark Ingram and Deborah Moses to leverage their influence in the bridal industry since their "tech" angle was nothing world changing. (For lack of a better term...they're the "Gilt for Weddings") Their press push was impressive, and certainly was noticed, but last I heard their business was not sky-rocketing. So - it wasn't about the money they raised, but about the people they raised it from. Are the wedding industry top dogs NOT as influential as the tech ones? Perhaps. But you'd think if you own a wedding business - that being backed by one of the most recognizable wedding figured in the industry would do wonders for your business.
So now where does this leave me? I can't raise tech funding because my business is not "sexy" enough in the eyes of tech investors. (In efforts to make these ridiculous continual comparisons, Something Borrowed NY is the "Rent the Runway" for brides) Our site is simply an e-commerce site that RENTS accessories to brides for their wedding day. Of course I COULD make it sound sexier (I want to team with Clothia to have brides virtually try on their accessories from their own home, I want an app that has you fill out details about your dress & wedding style that pairs you with the right bridal accessory, I want to create pop-up-shops around the US to help brides touch and feel the products...) but this requires me finding a tech co-founder and I'm not sure if I want to go that route.
OR
I could try to partner with a top Wedding Planner (think about what BeachMint has done) who backs the concept and leverages our credibility in the wedding space. Yet, this is another gamble knowing that other businesses who have gone this route have not necessarily been as successful as they anticipated.
OR
Maybe the best way to do this - is to have both? A tech backed angel and a wedding angel. Perhaps the combination of the two is the kryptonite we need to leverage ourselves in BOTH spaces and help us grow beyond the potential of either space on its own. If my business is straddling the line between WED and TECH - why not just do both? It seems having support from both sides is far better than just one. So...Who's In?
Brittany Haas is Founder of Something Borrowed NY. Always drawing and designing, she graduated from Cornell University with a degree in Fiber Science & Apparel Design. Upon graduation she decided to learn the business side of the fashion industry. Since then, she’s gained experience as a financial merchandise planner for several top Fashion houses, and now brings her business savvy to the bridal industry. She has been featured on Women2.0, Forbes.com, and Yahoo Small Business. She is also the leader of @WedTech. Follow her on Twitter at @brittanyhaas.
It's a term we coined ourselves...and by we, I mean the dozens of bridal technology start-ups here in NYC. As I was meeting with fellow entrepreneurs talking about my own start-up, Something Borrowed NY, I had so many conversations about the wedding space and how antiquated it is. The most obvious conversation was how The Knot, formally known as "the" e-commerce resource for weddings, is a mess. Their content is haphazard and organized in a manner that is unhelpful to brides planning their weddings, their vendor matrix is based on who pays the most money to get a higher listing, and their parent company, XO Group, is too concerned with rapidly expanding their other brands and their IPO than concentrating on moving forward with bridal technology.
With the current surge in Wed-Tech companies, I decided to get us all together. There were too many meetings I had with people doing similar "iterations" for us NOT to talk about it. No one (and I say this lovingly), has gotten it "right" yet - besides Pinterest. And the reason they're such geniuses, and the number one fastest growing website of all time, is because they didn't limit themselves to just weddings. They were able to capitalize scrapbookers, fashion lovers, dog lovers, cat lovers...any lover of anything to just compile their inspiration pictures in an organized manner. I can speak for my own business and say that my Pinterest has surged to become the #4 traffic driver to my site based on the fact that when people type in "bridal accessories" - I pop up, they pin, and they are directed to my business.
The continuing dichotomy I struggle with is wedding business vs. tech business. Quite frankly, the tech industry doesn't understand weddings unless it's super sexy with algorithms and an app, and the wedding industry doesn't get tech unless it's super user-friendly and picture based. There have been a FEW companies who I've seen be funded by the tech world that have a wedding focus; Tailored (formally known as Dress Rush), Lover.ly and Wedding Lovely to name few. All of these businesses are essentially picture search engines to help you more easily find vendors and inspiration. They all have different ways of doing it - but they're essentially sharing a common thread. So when other start-ups that are trying to disrupt (BridesView, Neat Weddings, myself, Knot a Registry, Little Borrowed Dress, etc.), we're automatically lumped into this "wedding space" that the tech world already sees as "flooded".
So if tech isn't interested - how about the wedding giants? This is the way The Aisle NY went. Shara Levy and David Yassky paired with well known bridal giants Mark Ingram and Deborah Moses to leverage their influence in the bridal industry since their "tech" angle was nothing world changing. (For lack of a better term...they're the "Gilt for Weddings") Their press push was impressive, and certainly was noticed, but last I heard their business was not sky-rocketing. So - it wasn't about the money they raised, but about the people they raised it from. Are the wedding industry top dogs NOT as influential as the tech ones? Perhaps. But you'd think if you own a wedding business - that being backed by one of the most recognizable wedding figured in the industry would do wonders for your business.
So now where does this leave me? I can't raise tech funding because my business is not "sexy" enough in the eyes of tech investors. (In efforts to make these ridiculous continual comparisons, Something Borrowed NY is the "Rent the Runway" for brides) Our site is simply an e-commerce site that RENTS accessories to brides for their wedding day. Of course I COULD make it sound sexier (I want to team with Clothia to have brides virtually try on their accessories from their own home, I want an app that has you fill out details about your dress & wedding style that pairs you with the right bridal accessory, I want to create pop-up-shops around the US to help brides touch and feel the products...) but this requires me finding a tech co-founder and I'm not sure if I want to go that route.
OR
I could try to partner with a top Wedding Planner (think about what BeachMint has done) who backs the concept and leverages our credibility in the wedding space. Yet, this is another gamble knowing that other businesses who have gone this route have not necessarily been as successful as they anticipated.
OR
Maybe the best way to do this - is to have both? A tech backed angel and a wedding angel. Perhaps the combination of the two is the kryptonite we need to leverage ourselves in BOTH spaces and help us grow beyond the potential of either space on its own. If my business is straddling the line between WED and TECH - why not just do both? It seems having support from both sides is far better than just one. So...Who's In?
Brittany Haas is Founder of Something Borrowed NY. Always drawing and designing, she graduated from Cornell University with a degree in Fiber Science & Apparel Design. Upon graduation she decided to learn the business side of the fashion industry. Since then, she’s gained experience as a financial merchandise planner for several top Fashion houses, and now brings her business savvy to the bridal industry. She has been featured on Women2.0, Forbes.com, and Yahoo Small Business. She is also the leader of @WedTech. Follow her on Twitter at @brittanyhaas.
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