Chances are, you might have a handbag or piece of apparel designed by Rebecca Minkoff. There’s no doubt that Rebecca Minkoff has grown her business and turned it into a household name. And the current economic conditions have negatively affected the sales of her business. Still, Minkoff chooses to plow her way through the challenges like the finessed and seasoned entrepreneur that she is.
Founder of Rebecca Minkoff, an industry leader in accessible luxury handbags, accessories, footwear and apparel, Minkoff has partnered with Capital One and Small Unites to educate consumers on the importance of supporting small businesses, especially during the pandemic.
The Female Founder Collective is a membership community that was co-founded by Minkoff and Ali Wyatt. This membership community allows female business owners to connect and share tools, wisdom, and resources. Minkoff states that an overwhelming majority of women (82%) are more likely to buy from companies owned by other women if they only knew who they were. Rebecca feels strongly about women supporting other women in business, and as a result, the symbol for the Female Founder Collective was born. This symbol identifies women-owned and operated businesses with ease, and the community aims to provide a valuable community for women business owners to share resources and advice.
Minkoff’s own business has lost over 70% of sales during the pandemic, but Minkoff refuses to accept that as a defeat. She is determined to get her through this tough time and is passionate about helping other female-driven businesses do the same. There is no luxury of giving up; you need to fight to survive.
Minkoff took her power back and made choices to ensure that her personal life was supported so that she could focus on the pivot her business needed to ensure it endured the pandemic and current recession. She collaborated with others and worked on increasing the traffic to her website and promoting her products. The efforts paid off by growing her traffic by 70% to her website.
In a landscape where female-led businesses are multiplying rapidly, it is more important than ever for women to become comfortable talking and strategizing about their finances! Minkoff encourages other business owners to keep the day-to-day chores of running a business run smoothly and include the financial management of the business into account. It makes sense to outsource professionals to manage the finance tasks within your business, but that is never an excuse to check out your business’s financial management. Your eyes need to be on the financial reports regularly to ensure the company moves in the right direction.
Minkoff is the new author of Fearless: The New Rules for Unlocking Creativity, Courage, and Success, which will release in June 2021. Minkoff wrote the book to help empower others through their journey of entrepreneurship and provide them with experience-based advice on how to become a successful entrepreneur.
Host of Superwomen with Rebecca Minkoff, a weekly podcast that interviews successful women, from CEOs to artists, to share their stories of success and challenges and shares the secrets behind some of the most successful women in the world. Each week Minkoff talks to women from all walks of life, from CEOs to artists, and shows us what life is like without the pretty filters to help you navigate what it means to be vulnerable, how loss can make you stronger, and other ways to make your inner superwoman shine.
The bottom line is Rebecca Minkoff shows the true grit required of being a successful entrepreneur. Despite the massive success she has experienced, she is relatable. She shares her story from humble beginnings and is refreshingly honest about her business challenges during the current recession. Minkoff’s strong connection with her customer allows her business to keep going.