Think Like A CFO Podcast

Are You Running Your Business Fearlessly?

April 19, 2021 Melissa Houston / Rebecca Minkoff Episode 31
Think Like A CFO Podcast
Are You Running Your Business Fearlessly?
Chapters
Think Like A CFO Podcast
Are You Running Your Business Fearlessly?
Apr 19, 2021 Episode 31
Melissa Houston / Rebecca Minkoff

“Almost 2000 women-owned businesses per day are starting right now.”

—  Rebecca Minkoff

‘Fearless’ isn’t just the title of Rebecca Minkoff’s book — it’s her approach to life.

Rebecca moved to NYC at 18 to pursue her passion for fashion. Just a few years later, her reimagined ‘I Love NY’ t-shirt appeared on The Tonight Show and her first handbag, the Morning After Bag, started her career as a handbag designer. 

Despite this initial spark, Rebecca still had trouble securing the loans she needed to grow. While she eventually did a small raise through a private equity firm, she doesn’t regret avoiding venture capital early on.

“I always tell people who are starting out, please don’t rush into raising money,” Rebecca explains. “Because you are selling a huge piece of your pie for no more control, and you’re dealing with people who want an exit in seven years. And sometimes businesses aren’t ready for an exit in seven years.”

Rebecca is not only a talented designer, she’s also the creator of the Female Founder Collective, a membership community and platform that allows female business owners to connect and share wisdom, tools, and resources.

In a landscape where female-led businesses are multiplying rapidly, it’s more important than ever for women to become comfortable talking and strategizing about their finances! 

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

  • How #SmallUnites and the Female Founder Collective are helping to empower business owners
  • What Rebecca had to do to survive the 2008 recession — and why it worked
  • Why more women need to start talking about money the way we talk about our relationships

Highlights:‌ ‌

  • 02:11  Meet Rebecca Minkoff 
  • 04:09  Raising money
  • 07:01  Female Founder Collective
  • 08:39  Talking about finances
  • 10:56  Growth or profitability?
  • 11:40  She-cession & #SmallUnites
  • 14:12  Advice for new start-ups
  • 15:54  The 2008 recession
  • 17:42  Being Fearless
  • 20:43  Near disaster
  • 23:15  Takeaway

About Rebecca Minkoff

Rebecca Minkoff is an industry leader in accessible luxury handbags, accessories, footwear, and apparel. Her modern bohemian designs are inspired by strong, confident, and powerful women who embody the effortless, free-spirited lifestyle. She is the author of Fearless: The New Rules for Unlocking Creativity, Courage, and Success.

Links:‌ ‌

Rebecca Minkoff

https://www.rebeccaminkoff.com 

Fearless: The New Rules for Unlocking Creativity, Courage, and Success

https://www.rebeccaminkoff.com/pages/fearless-the-new-rules-for-unlocking-creativity-courage-and-success 

Female Founder Collective

https://www.femalefoundercollective.com 

#SmallUnites

https://smallunites.org 

The 5-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.

Show Notes

“Almost 2000 women-owned businesses per day are starting right now.”

—  Rebecca Minkoff

‘Fearless’ isn’t just the title of Rebecca Minkoff’s book — it’s her approach to life.

Rebecca moved to NYC at 18 to pursue her passion for fashion. Just a few years later, her reimagined ‘I Love NY’ t-shirt appeared on The Tonight Show and her first handbag, the Morning After Bag, started her career as a handbag designer. 

Despite this initial spark, Rebecca still had trouble securing the loans she needed to grow. While she eventually did a small raise through a private equity firm, she doesn’t regret avoiding venture capital early on.

“I always tell people who are starting out, please don’t rush into raising money,” Rebecca explains. “Because you are selling a huge piece of your pie for no more control, and you’re dealing with people who want an exit in seven years. And sometimes businesses aren’t ready for an exit in seven years.”

Rebecca is not only a talented designer, she’s also the creator of the Female Founder Collective, a membership community and platform that allows female business owners to connect and share wisdom, tools, and resources.

In a landscape where female-led businesses are multiplying rapidly, it’s more important than ever for women to become comfortable talking and strategizing about their finances! 

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

  • How #SmallUnites and the Female Founder Collective are helping to empower business owners
  • What Rebecca had to do to survive the 2008 recession — and why it worked
  • Why more women need to start talking about money the way we talk about our relationships

Highlights:‌ ‌

  • 02:11  Meet Rebecca Minkoff 
  • 04:09  Raising money
  • 07:01  Female Founder Collective
  • 08:39  Talking about finances
  • 10:56  Growth or profitability?
  • 11:40  She-cession & #SmallUnites
  • 14:12  Advice for new start-ups
  • 15:54  The 2008 recession
  • 17:42  Being Fearless
  • 20:43  Near disaster
  • 23:15  Takeaway

About Rebecca Minkoff

Rebecca Minkoff is an industry leader in accessible luxury handbags, accessories, footwear, and apparel. Her modern bohemian designs are inspired by strong, confident, and powerful women who embody the effortless, free-spirited lifestyle. She is the author of Fearless: The New Rules for Unlocking Creativity, Courage, and Success.

Links:‌ ‌

Rebecca Minkoff

https://www.rebeccaminkoff.com 

Fearless: The New Rules for Unlocking Creativity, Courage, and Success

https://www.rebeccaminkoff.com/pages/fearless-the-new-rules-for-unlocking-creativity-courage-and-success 

Female Founder Collective

https://www.femalefoundercollective.com 

#SmallUnites

https://smallunites.org 

The 5-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.