Valleywag
StyleDiary's Patricia Handschiegel just posted a picture that was taken of her the day she sold her online-fashion startup to StyleHive in November 2007. In it, she's at her least glamorous — and most gleeful. "I love that picture because I was so fucking happy," she tells us. We wanted to know how she got that way. At first, Handschiegel wouldn't talk. "I know some things," she said, "But if anything, this shit makes you humble. You see how small you are and how big business and everything is." Fortunately, persistence and well-placed guilt trips paid off. And so below, her bullet points for the wantrepreneurs out there — girls' girls or not — looking to actually accomplish something.
- Focus on numbers. StyleDiary "might have not had MySpace level traffic," Handschiegel says, but because StyleDiary kept focus on its topic, a "60 percent return rate and average session time of something like 30 minutes" was plenty attractive for potential buyers. As is talking stats, not style.
- Promote yourself and the company carefully. Potential buyers wouldn't know about StyleDiary if Handschiegel hadn't made them aware. But self-promotion is tricky, especially for women. "Whoring yourself out and bouncing around the parties" isn't the way to do it, Handschiegel says. Neither is "Twittering 100 times a day." Actually, this advice applies equally to men.
- Accumulate real advisors, not Facebook "friends." "I was sort of mentored by two really successful serial entrepreneurs. I spent six or seven years working with them, watching what they did, how they conducted themselves."
- In conversations, add information, not just your voice. The best way to counter people's assumptions about female entrepreneurs — namely, that since you're a girl, you won't know anything — is by contributing to discussions online and off with actual knowledge. For a specific example, Handschiegel started talking about IP packets. I didn't follow, but she sounded way smarter than most of the wantrepreneurs I hang out with in Manhattan.
- Don't spend. StyleDiary was easier to sell, Handschiegel says, because it was "self-funded, debt free and cash flow positive." Any tricks to keeping it so lean? Things to avoid spending on: "Office, office supplies: things that make you feel like you're doing something." Also: "A lot of girl entrepreneurs go bananas thinking they'll make money. I would never spend the $3k it'd take me to be at SXSW just to party there."
- Sometimes you have to let your girl's-girl image go. "Nothing takes precedence over the business. That's why you see me at events and I usually got ready in the car, if at all."
Comments
What a simple and happy post with useful reminders of what's important!
This is a nice break from the recent stream of "how to pay for sex" tutorials.
"I would never spend the $3k it'd take me to be at SXSW just to party there."
Which reminds me, how's that "conference" in Amsterdam going? I swear, and Alexa backs me up, Digg loses value every day.
@lex99: i'd have to agree...hoes, repent
@lex99: are you saying i can pay for sex with Patricia Handschiegel?
Melissa, how much will it cost me?
@sample032: Holy crap! When did Mozilla buy Digg?
i hope melissa counters this with a hooker story soon otherwise i won't know what to believe
She would have received a %20 higher valuation had she been a man.
keep posting like this and I might start thinking ValleyWag is worthwhile like I used to.
I heartily congratulate Ms. Handschiegel, although I am having trouble understanding "serious bank" as a numerical expression. Is it not "girly" to discuss numbers?
why you all think she's so cute? She's not cute there, just petite. Got a good picture of her?
@michaellamb: Go find a cave.
@michaellamb: Apologies for Carlson, whose response was rude and uncalled for. As we note in our post, this is about the worst picture of Handschiegel to be found.
Seen in person, Patricia is sexy and smart.
This pic makes even me gitty, congrats.
@michaellamb:
You can find pics of her everywhere. CenterNetworks has a good photo of her. She's beyond cute. She's stunning.
It's nice to see Patricia, Esther, and Jessica on VW today. I get so tired of reading about bimbos and wantrepreneurs -- male and female.
Let's stick to reporting about interesting people who are doing worthwhile things with their lives!!!
I feel good for Pat and wish her well. She sounds like she is focusing on the right things unlike many who are obsessed with money and status (you CAN'T take it with you in the end you know). She needed help and knew where to ask for help. I hope she does the same to those who approach her. This would be a great cycle.
It sucks that gender plays a role in perception. Self funding is a great way around that.
I would like to read more stories like this and less of, well, you know...
Anyway, good for you!
@Nicholas Carlson: For reals.
I also heartily endorse this post as something worth reading. Although I tend to like posts that aren't worth reading too, so maybe my endorsement isn't worth as much as I'd like to think it is.
Why was that picture taken at Kinkos?
why does it matter if she was glamorous or not? she's kick ass no matter how cute she is.
No harm, I very much admire Patty cakes' brain :) I've never seen her in person, but everyone is always gushing how cute she is. So I want to see it. That pic ain't doing it.
[www.centernetworks.com]
ah ok!
@michaellamb: I don't presume to speak for Mr. Carlson, but I translated his comment (tone notwithstanding) as "Why does what you want matter so much?"
1) Particularly in context.
2) Also relevant to what Zoo said, it's comments like yours that continue to reinforce that the most important thing about a woman is how she looks, as opposed to her company's P/E ratio. Which is why several of us feel compelled to continue demonstrating that sexism still exists -- whether types like you care to hear it or not.
@It'stheRooo: I think michaellamb demonstrated better than you could that sexism still exists. Also that people still have trouble finding Google Image Search.
If a female entrepreneur follows this suggestion:
In conversations, add information, not just your voice. The best way to counter people's assumptions about female entrepreneurs - namely, that since you're a girl, you won't know anything - is by contributing to discussions online and off with actual knowledge.
she will invariably assumed to be male unless there are obvious clues to the contrary. Not that this is a bad thing, actually; it can get you much farther into the online room than you could get otherwise, sometimes.
I think it would be helpful if she mentioned how one SHOULD promote themselves. Like, in detail.
Saying to do it carefully doesn't help.
And I'm not familiar with how often ValleyWag promotes female entrepreneurs (and what type of businesses they start and sell), but I hate that all my business school classes use Harvard Business School cases where women only start up fashion-related companies or small, holly-hobby craft enterprises. The high-tech or "science" companies are almost always a group of men.
I admire Patricia's contributions online. She says intelligent things on here, on TechCrunch and her own musings. She sold her own company, she's rich, I'm not. Good for her.
It'stheRoo:
a) because i'm a reader and bolster numbers and might even click on an ad some day
b) wasn't actually intentional, foot in mouth
How much did she make from the sale. Checked Compete and her site has pretty low traffic. Congrats for flipping I guesss. Everybody loves the liquidity event. I would do her. hehe. More prostitution stuff. Is Melissa Gira the pageview leader?
@Luuce: Go find a cave.
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