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Does “Ladies Who Launch” represent a new trend in business incubators?
The Ladies Who Launch Incubators promote entrepreneurship and business as a lifestyle choice. Will these new lifestyle incubators create a problem for traditional business incubators in the markets where they compete? Are we going to see more affinity groups choose lifestyle incubators over traditional business incubators in future? Are they a better choice for micro businesses?
Answers (38)
My personal opinion is that women entrepreneurship is a good trends.
I have been involved in several match-making events during International Trade Fairs and I have noticed that women bring a "new touch" to usual business. Indeed they are more involved in lifestyle and well-being business sectors but there are also very active ladies (few ones) in more classical sectors such as the building or wood-processing sector.
I am very keen to know why Mr. Alexander is asking this question!
Endowed with the famous female intuition that helps them make the right choices even in situations where experience and logic fail, women have innate flair for entrepreneurship. Although men and women may be motivated by different goals and expectations (In her book, When Money Isn't Enough, Connie Glaser reports that male entrepreneurs are motivated by the potential to earn lots of money, while women start their own companies because they seek greater control over their personal and professional lives.) women entrepreneurs are just as competent, if not better, than their male counterparts.
With corporates eager to associate and work with women-owned businesses, and a host of banks and non-governmental organisations keen to help them get going, there has rarely been a better time for women with zeal and creativity to start their own business.
Melissa D
Managing Principal at EMC
Best Answers in: Project Management (1), Computers and Software (1)
I hope we do see more ladies launching; I merely hope it is on the grounds of ability rathern than gender. Gender is never a better choice; experience and "having the right stuff" is the better choice.
HiTech and innovation entrepreneurship lacks women, as hitech and innovation lacks women too ! Incubators will therefore reflect the unbalanced innovation ecosystems, although girls and hitech women have numerous qualities to succeed in that kind of process or activity. A deficit in young candidates to hitech studying and jobs results in a unbalance gender distribution in many innovative activities. If you have a look to the awarded Prix Excellencia laureates, you will see how much valuable women are in innovative environments. But, for raising money and to start a business, they certainly prefer places where they find more balanced point of views...
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Eric C also suggests these experts on this topic:
YES!!!
Our consulting firm has worked with a couple of different lifestyle start-ups directly from the Los Angeles LWL group. We have found the organization and its members to be very bright, creative and driven. The organization (from our outside perspective) is teaching great start-up skills and providing networking opportunities for entreprenuers.
It makes sense, especially for entrepreneurs, to join lifestyle incubators such as LWL, as the line between work and life gets blurrier. A recent article in NY Times, "Blurring by Choice and Passion" echoes that idea.
LWL is so successful because besides being business oriented, it focuses on offering extended learning as well as being a support group and social network for like-minded women. In a world where nobody has enough time, these kinds of lifestyle incubators allow for more fluid multi-tasking.
$6000 plus a trip to New York to get their training and a franchise, spa events interspersed with the "training" -- oy vay, its a rich gal's tax deductible excuse to play. Not for REAL ladies who launch -- we're bootstrappers all the way!
From the sounds of it LWLI is a variation on many other programs but not to traditional incubators. Traditional incubators often focus on small businesses that need subsidized facilities and support services and that are not good candidates for home-based businesses. So if "lifestyle incubators" is a euphemism for home-based and more retail oriented businesses, then there is no comparison. There probably is a real need for both, particularly when the home-based manufacturing or processing business outgrows its limited facility. By the way, there are a lot of myths about entrepreneurship that perpetuate a high failure rate for both genders. The biggest contribution to business failure is an entrepreneur's lack of experience managing their own business. This contributes to the statistic that most entrepreneurs (both genders) have four major failures over 20 years before they have a sustainable success. Its because they learn too much the hard way, by experience. Using programs such as LWLI and others should help avoid some of those mistakes.
Cheers!
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Anne Z
17-year marketing pro; B2B specialist. www.annezieger.com or whatmattersonline.wordpress.com
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I'm not familiar with this incubator group, but I've got to say I'm glad to see it. The VC world is still profoundly misogynistic if my experience is any indicator. After all, look at the patterns. I don't have current stats to hand, but I believe the stats are that women-led firms are getting less than 10 percent of all VC investment (and I think it's actually less than 5 percent).
And then there's my real-life experience. Not that long ago, when I was writing a piece for a venture capital publication, an elderly VC exec told me he simply didn't invest in ventures backed by women. "They just can't handle make companies work," he said. OK, he was an older guy (and "old fashioned," no doubt) but my gut tells me he's not alone.
Rajesh N
Marketing Planning and Communication Strategy Consultant
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Yes, while women do embody better EQ and people skills, balance budgets at home and at work; but somehow their business equations usually are restricted to a size.
I have seen quite a few women entrepreneurs who have been pretty happy up to a size; but get very uncomfortable when scaling up. But that suits 'luxury' business opportunities, so the going remians very good.
As they are usually found at the top of the pyramid across categories, they leave enough room for all.
Pieter D
Business strategist
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It is one of the basic foundations of any decent marketing strategy to define a target group. Lifestyle is in that sense a very sound definition that immediately attaches to the identity people choose for themselves and provides immediate self-identification. Ladies Who Launch is in that sense not a lifestyle incubator, but as can be seen in some of the answers above, triggers 'glass ceiling' emotions in both men and women. Frustration is not a lifestyle, how ever justifiable the frustration may be.
Are they a better choice? A product does not become better through better marketing, it will only be sold better. The product here being the incubator and not whatever the entrepreneurs are selling.
We see a clear trend in lifestyle attached marketing. I had a good laugh, without being cynical, when the term 'holistic ICT' crossed my path for the first time. I visualized our account managers visiting customers in old flower power design clothing, driving their Volkswagen vans to the customer and consequently selling them "a fully managed transparent solution". Another contradiction in terminis.
As to this, hey, if it works don't fix it. A better choice? Not per definition.
Zachary, thank you for starting this conversation and as the founders and Editor in Chief (Amy Swift) of Ladies Who Launch we are happy to join in. The Ladies Who Launch Incubator model, in 48 cities across the US and Canada, is likely setting a trend because we are legitimizing the natural instincts women have about the way they approach not only their businesses, but their lives. We are the first to define this feminine approach to launching; it is a more organic approach. This doesn’t mean that they (men or women who follow this approach) are less serious, but they are definitely less structured than in the traditional sense. Much of this has happened because women especially don't build a life around their businesses; they choose to launch because it fits into the greater lifestyle vision which involves freedom and flexibility, doing something for passion and to have control over their income. In our book we conducted an extensive survey as an exploratory exercise and the results were not only the above, but that for women, self-esteem and happiness are actually connected to launching. This means that women who have launched actually feel better about themselves overall, not just in the vocabulary of "business." So if the question is "is Ladies Who Launch setting a trend with lifestyle Incubators?" I would say maybe we are, but we see it more as a movement. It's bigger than a trend and that's great news for women everywhere.
Andrew B
Chief Operating Officer (Interim), Jian Software Inc.
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"Ladies" have been the heart and soul of every start-up ever 'conceived'... and were happily doing so long before terms like entrepreneur and lifestyle incubator were ever applied - if you need to ID the social and or economic value of there collective efforts simply look in the mirror - yep at one point you too were a start-up, and with any luck have since spun off into your own franchise and are now assisting in the development of other young start-ups.
I teach finances for Women's Economic Ventures in Ventura, CA, its a 14 week course for women who are starting a business. WEV teaches everything from assessing what you're really made off, to marketing, financing, cash flow projections, legal entity, etc. There is a growing movement of women who want to have more control of their time, be available to their families and earn a successful living expressing their own creativity and vision. In my personal experience, the women I teach are great at creating and marketing their product, but they don't like to deal with the finances. I think it is very common for women to undersell themselves, many even feel undeserving of success. One major value organizations like LWL offer is a place where women can find support and encouragement from each other. All are dealing with similar issues and there is less competition and more collaboration than the traditional business model. Most WEV and LWL businesses may start out to be home based in nature, but as their owners grow in confidence, these women will become forces to reckon with. Watch out corporate America!
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I applaud LWL. I participated in an incubator group in Houston and the experience enabled me to more clearly define goals and objectives, get honest feedback and suggestions from others who have no personal stake in risking hurt feelings, and it takes the 6 degrees of separation down to 1. I know I have a wealth of resources at my fingertips and that alone should keep me from making some of the mistakes that might otherwise delay or dilute my potential for success.
I've been to a traditional business incubator, and then I went to a Ladies Who Launch incubator. For me the difference was that my ideas were allowed to grow, to blossom, before someone bombarded me with a million ideas on how to make it better. Usually I'm the one doing the bombarding, that's how I got my name "Chief Idea Bunny" because ideas replicated like Tribbles and come faster than you can jot them down.
The difference is the lifestyle. I believe I am an entrepreneur. I surround myself with like minded females who understand the challenge of being a wife, mother, and workaholic with million dollar ideas. Being in their presence is one of the only reasons I can accomplish so much, because I learn from the collective experience.
More than that, it's the intensity of the movement. Being able to share with the group the progress I've made, and knowing they truly support me. For women that's the essential missing element. I'm a member of many business networking groups, and this is the one where I feel like I'm doing business with friends. No competition, there's room for everyone, even with 5 branding specialists, 4 publicists, and a dozen marketing mavens, there's still plenty of room for me.
Nance S
Counselor at Law, Business & Conflict Resolution at Law Office of Nance L. Schick
First, I am not sure that "lifestyle incubators" are new. Regardless, they probably are already creating "problems" for traditional business incubators--primarily because the traditional incubators aren't truly "in" the markets where they compete. I am a member of the NYC Ladies Who Launch incubator, and I am unaware of any traditional organization that truly competes with LWL. When I have explored other groups, I found them to be very limited in their thinking. Although well-intended and perfect for those who fit their mold, I did not. As Beth Schoenfeldt mentioned, some of us are okay with allowing our business to grow organically. We are often doing other things as well. Many of us are launching while also working in or running other businesses, but we see opportunity and are drawn to it. Sometimes, we just want to give a little back and aren't looking for the next multinational opportunity. Thus, we don't fit the traditional business mold, if there is one. (I actually think we are seeing a shift that theorists foresaw in the 1960s. The Industrial Revolution drew more people out of entrepreneurship and into the promise of a secure corporate career. Changes in corporate America have caused us to rethink this, which is why many of us are going back to what people have practiced for millenia in organized society. The first farmers, hunters and gatherers were all essentially entrepreneurs.)
Your question about "affinity groups" is rather puzzling. As a lawyer, I'm a member of the New York Women's Bar Association, as well as the New York County Lawyers' Association and other networks. I don't see that we have to choose one over the other, and I actually find that diversity is good--in all aspects of our lives. It's unrealistic to think one group, one person or one thing can give us everything we need. As much as I love LWL, I know I can't rely on it for everything.
Finally, "lifestyle incubators" are a great choice for micro-businesses, but not necessarily "better." Again, no one organization can do it all for anyone. However, micro-businesses often find LWL a valuable resource because they are welcome there. No one undervalues other members because of size, gross sales or media exposure. Instead, we celebrate every victory on individualized bases. We make room for everyone and feel confident that everyone can succeed.
In short, entrepreneurship and business IS a lifestyle choice. LWL is just shining the spotlight on this fact.
I think bringing together targeted groups of people always increases the likelihood of building better connections. So whether it's a women's network or a technology incubator - the results will always be more effective.
Sabine W
President/CEO Nobility Coaching & Consulting, Inc.
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I personally think that the concept of 'Business Incubators' is a great idea. I work with entrepreneurs and many of them would benefit from an extended forum for networking and helping them launch their businesses. It is during the first two years that this would come in most helpful, as those are usually the toughest for an entrepreneur.
Ladies Who Launch on the other hand does not seem to deliver from what I have been able to research. Some of the Amazon.com reviews on their book are quite eye-opening - look closely at who they are associated with and who they endorse and you will see what I mean.
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I would suspect that LWL will be successful for several reasons. First, as entrepreneurial skills become more widely dispersed through the economy, I suspect the need for a highly regimented incubator environment is likely to diminish. Second, companies can put together the administrative/IT infrastruvcture to support growth more quickly than in the past (buy a few seats of Salesforce.com for a few bucks a month instead of having to start an IT department to host a CRM application) so management can focus on driving revenue not on building infrastructure.
Most importantly, I think LWL will be successful because of the personality of at least one of the founders. I worked with Victoria Colligan years ago and found her to be resourceful, charismatic, hardworking, versatile, and incredibly people oriented. I wouldn't dream of betting against her at anything she wants to do.
Jim H
Vice President of Corporate Development - Sterling Commerce
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Trend??? No.
Evolution? perhaps.
I'm not a woman so I can't speak firsthand (duh!), although I like Anjani's reply.
Is this a convenience or a gap filler? I don't personally see it as a gap filler as I work and have worked with a number of incubators and haven't seen any significant issue of Women versus Men run companies in those incubators.
I don't see a "lifestyle" incubator (If that's what it is) being a problem for other incubators.
For me, personally, the polorization around a "lifestyle" is confusing. Business incubation, along with the support and advice it provides should be about the business at hand rather than the lifestyle of an individual. Should Incubator's focus? Yes, I believe so as it can very hard to amass the talent and support to incubate businesses across many different disciplines, segments or industries.
So, if Ladies Who Launch is there because women tend to choose the same segment or discipline to develop a business, then, OK, I guess I get that. Somehow that statement, to me, sounds very prejudiced and I don't believe that is ever the case. Although there are only 10 women (verusus 100) that run Fortune 500 companies, the majority of the businesses do NOT cater to women. Among the chiefs not related to a woman-focused business include the CEO's of Radio Shack, Tower Automative, Jack-in-the-Box (Hope she turn that one around), Sara Lee, NY Times, SAFECO, Rite Aid, Lucent, eBay, Golden West Financial, and Citizens Communications. Not a large number but some very talented people running some very strong businesses.
In terms of small business, there are over 3,000,000 small woman owned businesses that do business with the Federal Government. Most of these take advantage of the "set aside" contracts that are offered through congressional legislation. If you study the regs, however, you'll see there is a graduation mechanism. In effect, the government is incubating small business (and specially calling out small, woman-owned, venteran disabled, and minority). If memory serves, that's been around ove 20 years.
So, I'd ask again.... is it really a "lifestyle" incubator (regardless of what is said or written) or is it a segment or discipline incubator. If it's just a lifestyle, that sounds more like a cocoon than an incubator
Cheers.
Nan S
CEO, Brainy Betty, Inc./ Intellipodcast - the power of social networking and new media!
What's Ladies Who Launch? Please clarify! :)
Jenna P
Product Management Professional
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What a fantastic idea. I was looking at the website and I have to say that the people who got this started are smart. They turned helping women start their own businesses into business. It's brilliant.
If it's a better model for cultivating a business, that's really up to the people who own it. I've seen individuals take a concept or methodology and adapt it to fit what works for them.
What LWL has established is a proven method showing women that others have gone out on their own and been successful, so there is no reason why they can't do it too. It helps to give a sense of security and a source to draw confidence from when venturing into the scary world of your own business. It brings sense and order to a seemingly chaotic situation.
I applaud them!
It's a little strange to hear a discussion strand of "business as a choice versus a lifestyle" emerging when it comes to women, when I wouldn't hear the same applied to minorities, youth, people with disabilities, seniors, or any other group encouraged to experience the pleasures of entrepreneurship simply for its own sake.
Any opportunity, Ladies Who Launch included, which expands entrepreneurial activity in order to make its principles accessible and benefits attainable to more people, through focused activity, coordinated events, and supported efforts will likely lead to sustained interest and greater success from participants.
As far as a new trend, I'm not sure, though a great one with the right time-tested elements...
One can look back to turn-of-the-20th century America for comparable examples of successful women enabling other women in their entrepreneurial efforts through networking, workshops, and non-physical incubator activity, especially within networks of minorities and then-recent immigrants.
One often-cited example here would be Madame C.J. Walker, her hair care products, and the businesswomen, industries, and institutions she spawned. [It would be the unfair one to start with, since she actually wasn't the first American Black self-made millionairess, ironically, thanks to Turnbo Malone and *her* line of hair care products, for which Walker herself first worked.]
Back on track, LWL isn't a physical business incubator, arguably more of an affinity group,. Affinity groups thrive on networks, networks compliment, instead of compete with, physical incubators, if/when used properly as vital assets.
Rather than adhering to a particular structure, form, administration, or operational model-- or worse, an ability to compete with others (save for funding), those physical incubators would do well to focus on their own differentiation and specialization (lifestyle, life science, lifestock, etc.), and concentrate on outcomes, effectiveness, and meeting the needs of all involved.
If the incubator dynamic's not as engaged, committed, and energized as an affinity group like LWL, then I'd be concerned...
I completed a Ladies Who Launch incubator in NYC. The group consisted of women who were currently running or working in businesses of all kinds and had ideas for new businesses or ways to grow their current business. As I read through each of these answers, two main thoughts came to mind: a. the alluded to connection between 'lifestyle' and 'home-based', and b. whether or not Ladies Who Launch will be successful.
The business pursuits and passions of the women who complete the Incubator, or any woman in business for that matter, are not limited to home-based, as it relates to making a business decision to accommodate her family or other priority in her life. In fact, theses pursuits and environments are not limited to anything. As Nance Schick stated: "In short, entrepreneurship and business IS a lifestyle choice. LWL is just shining the spotlight on this fact." So for each woman, the ideal working situation may be running a business out of her home, out of an office, a boutique, on the road, etc.
Regarding the success of Ladies Who Launch as a company: LWL is already successful. Not only have they been inspiring women, for years, to take the leap of faith and develop one or three business ideas, but Ladies Who Launch is only as successful as its members. And the LWL members are doing quite well in terms of growing their businesses and helping each other.
So to bring it back to the original question, I do not know the difference between "lifestyle incubators" and "traditional business incubators," especially since all businesses and roles in businesses are so different. Perhaps "traditional business incubators" are just stuffier ;)
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I've attended some San Diego LWL gatherings. I have to say I've done some serious networking across the country, and this group attracts a very refreshing and high caliber women entrepreneurs.
I'm looking forward to attending their Live Event in San Francisco the end of this month.
Men or Women, what works is Substance,Strategy, Style,Committment. Style is essential for creating trends.
As a Saying Goes, " Success is the Manifestation of Good Luck that results from Inspiration, Aspiration, Desperation and Perspiration. If one has all these qualities, he or she will become successful". That's it.
Jennie B suggests this expert on this topic:
I believe a colleague of mine, Frederique Campagne Irwin, would be able to add some insight to this question and where the trend is headed. She is in management consulting with PRTM, and is working closely with Ladies Who Launch by participating in the incubator sessions, has successfully started several businesses, and routinely counsels others in entrepreneurship.