Whoever would have thought a woman could start a billion dollar company out of her Connecticut home? Martha Stewart did. And there other women in our state primed to follow in her footsteps.
Stewart’s ethics aside, she is a stunning example of how women take on entrepreneurship. She used initiative, determination, marketing, resourcefulness, and just plain hard work to build a global media company starting out of a kitchen in Westport.
For me, this proves the point that women tend to start companies on a shoestring, work like a dog to build it, use less capital to grow, and perform at par or greater than male-led companies.
Continuing in this trend of starting big businesses in the home, women led ventures seem to be bubbling up everywhere in Connecticut. In 2012, there were 98,000 women-owned businesses in our state.
Who knows which one will be the next billion dollar company?
As an Executive in Residence for CT Next and through my own passion to mentor entrepreneurs, I have met with over 200 Connecticut startups in the past year, of which around 25% were led by women. All of the women-led startups are still going, and many of the others not.
One startup I like, and think has the chances of making it big, is TurqSport, founded by CEO Susan White in her Greenwich, Connecticut home.
Susan addressed a market need with a cool product. TurqSport swim briefs make it easy for men and boys to get in and out of the surf without chafing.
Test launched in 2012, she sold out in one week. Now in 40 stores and sold online, she is about to hit her stride in her second full season.
Already designing the next phase for women and other activities, Susan has that “women-led” thing going for her: an appetite for hard work, willingness to operate on a shoestring, incredible resourcefulness, and brilliant vision.
Significant sales and the need to hire more employees is pushing Susan to move out of her home office. If I had to bet, and who knows, maybe one more billion dollar company will have started in Connecticut.