What Kate Spade Can Teach Us About Starting A Business

Kate Spade is an award-winning designer, former CEO, and let’s face it, a godsend to anyone who’s ever held a handbag. Here’s what Kate Spade can teach us about starting a business!

Sometimes the best ideas are the most obvious

When Kate Spade first launched her handbag brand, it came from a simple idea. Her husband simply said to her, “Why don’t you do handbags? You love handbags!” That was it—what lead to a multi-million company was brought on by the simple, obvious love for handbags that Kate Spade has. Another lesson of course: follow your passion and you can’t go wrong!

Find a gap in the market and fill it

When Kate Spade decided to start her company, she saw a gap in the market and decided to fill it with her own designs. Stylish, sensible handbags weren’t as common in 1993, and when Spade recognized that gap in the market she filled it with her fabulous designs. It’s a useful lesson to any entrepreneur—solving a problem is the surest way to ensure your business’ success.

You don’t have to just be one thing

Too often we get caught up in what we “should” be, and often that hinges on being just one thing. People think they should be a writer OR stylist OR CEO OR designer—pick only one thing and go for it. But you never need to limit what you could achieve—Kate Spade was all of those things, and she continues to expand her empire each day!

Don’t be afraid to move on

Almost 10 years ago in 2006, Kate and Andy Spade sold their company for $59 million. They started the company in 1993. “We just said, ‘let’s make some bags and see what happens,'” said Andy in an article for Women’s Wear Daily. They had seen the company through many highs and lows, but they had decided to move on. Sometimes you have to say goodbye to good things to make room for great things!

If you need more lessons from fabulous entrepreneurial women, why not read about Natalie Massanet or Estee Lauder?

Our fantastic giveaway is ending soon, so hurry and enter before the 31st October to be in with a chance to win a goody bag worth over $300!

Charlotte Bailey

Contributor

Charlotte Bailey is an freelance writer living in London. Originally from Canada, she's a word nerd, compulsive list-maker, and lover of novels & film.

  • Naomi Young

    I love Kate Spade and her bags! So classy :) I have one and I absolutely love it. It makes me feel more lady-like! Thanks for the post, great read!

    Naomi || http://nlyavenue.blogspot.co.uk/

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