Going back to a really informative and interesting post from one of our favorites, APW. Meg discusses the concept of Pink Entrepreneurship, how it is perceived and where it is going today. One of the excerpts that really caught our attention was:
As a wedding planning business with a major dancing habit on the side, we're about as pink as it gets! And being identified as a "business light" hit a little too close to home. We're definitely guilty of first starting out the business for fun. But that certainly doesn't mean that we don't have plans to become sustainable and profitable. It does, however, highlight what Meg was talking about. There most definitely is a preconception about these pink collar businesses. Why wasn't our first thought that wedding planning could be a kick ass and thriving business? Why was our first thought to make it a side business? Because it couldn't possibly make money? Because it's just for fun? Because wedding planning isn't a serious business? The unfortunate answer was "yes" to all of those. By getting into the business and working out inefficiencies in our heads and coming up with processes and systems, we've already managed to bring ourselves out of those confines. But it took a few years to do so!
So as we start to expand our business through a joint-partnership with a planned dance & fitness studio, the difference at the start is astounding. We already have:
- The LLC;
- A business plan with estimates and projections;
- A three-year timeline;
- Marketing plan with retail workflows and specific plans for corporate outreach;
- Logo research and development; and
- A dedicated commercial real estate agent helping us find properties that will require investment to develop.
It's taking a lot longer to get to the actual start, but it also comes with an incredible sense of accomplishment and the feeling that we're starting a REAL business here. And there's no reason why it shouldn't normally be that way just because we're in a pink field. As Meg goes on the expound, women hold the majority of the buying power today and the businesses that cater to their market have the most potential growth. Supporting and giving legitimacy to pink collar business is just plain good business.
So if you're a woman looking to start a business in a pink field: ignore that little voice in your head (and possibly the real ones of your well-meaning friends and family) that is telling you that your idea is adorable and totally fun, and instead sink your teeth into turning your passion into a business. Join the growing community of pink entrepreneurs!