Gotham Gal

College Graduation

Yesterday Jessica, our oldest daughter, graduated from college.  It is a milestone that any graduate can be proud of.   The entire college experience is a mixture of hard work, hard play and a unique time of of ones life to just feed oneself intellectually.  I remember how much I loved the brain power feed of college.  It is an experience that is hard to replicate elsewhere. 

There were a few speeches yesterday from Michael Roth, the President of Wesleyan including the people that were given honorary degrees that included James Van Benschoten Dresser, Majora Carter and Joss Hill Whedon.  They each had something to say that was a great takeaway for each of yesterdays graduates.

Dressers great-grandfather taught classics at Wesleyan in the 19th Century and each generation has had at least one person graduate from Wesleyan since then.  He spoke about how you create the relationship with Wesleyan and how much he got out of it.  It is up to the graduates to return and embrace the institution that sent them on their way into the world.

Majora was fantastic.  She was so eloquently moved to return and receive an honorary degree of humane letters.  This is a woman from the South Bronx who never could quite believe that she got to Wesleyan.  Majora embraced that experience and took her energy into revitalizing urban communities.  What she said stuck with all of us the most.  Be comfortable in being uncomfortable.  In essence the best way to truly challenge yourself is to push yourself to be and think and be outside of the box.  Being uncomfortable is good.

Whedon spoke of the same thing but in different words.  He said "You have, which is a rare thing, that ability and the responsibility to listen to the dissent in yourself, to at least give it the floor, because it is the key not only to consciousness but to real growth.  To accept duality is to earn identity.  And identity is something that you are constantly earning.  I talk about this contradiction, and this tension, there's two things I want to say about it.  One, t never goes away.  And if you think a career or a relationship will quite that voice, it will not.  If you think that happiness means total peace, you will never be happy.  Peace comes from the acceptance of the part of you that can never be at peace.  It will always be in conflict.  If you accept that, everything gets a lot better. Don't just be yourself.  Be all yourselves.  Live all of your life.  Understand it, see it, appreciate it.  And have fun."

Roth left the graduates with these words.  "Three ideals to make practical in your lives going forward; non-violence, diversity; and equality.  To create non-violence communities and promote creative experimentation, to reject cultural tendencies that subordinate patient inequity to macho projections of force.  The value of diversity is non-conformity.  We have a better chance of developing powerful ideas and practices if we work through a multiplicity of perspectives.  We know that homogeneity kills creativity and that diversity is a powerful hedge against the "rationalized conformity" of group-think.  Equality.  The privileged have become more and more powerful across this land.  And this may well continue as entrenched elites forge better and better tools to protect their advantages.  Access to a real education is the best antidote to the unnatural aristocracy of wealth.  Access to education has never been more important.  Resist the trends of inequality that are tearing at the fabric of our country." 

We discussed the speeches, the graduates, the whole weekend when we got home last night.  We also reflected on our own graduations and the paths each of us went down.  I am so incredibly proud of Jessica and what she has accomplished at Wesleyan these past four years.  She has made some wonderful friends who are as unique, driven and interesting as she is.  She has fed her brain with tremendous amounts of knowledge.  She has worked hard, played hard and I am excited to watch her undertake her next journey down the road of life. 

The Interestings by Meg Wolitzer

I finished The Interestings by Meg Wolitzer a few weeks ago but I keep thinking about it.  The book is a novel for my generation.

The book focuses on a group of people who meet at camp as teenagers in the 70s.  A camp with a bend towards the arts that has kids from all walks of life.  There are a few kids that are on financial aid at this camp and some of them are part of the group that calls themselves "The Interestings". 

We follow this group of friends from camp in to their mid-50's.  Each of their lives go through what all of our lives go through, a series of ups and downs.  You get to know each individual character in depth.  We read about the first bout of AIDS, the conversations that take place about feminism that will be different from the past generation, the gay friends who come out of the closet, having kids that grow up and go to college, autism, how some friends have incredible success and others do not, being abused as a child, sexual attraction and even different work habits.  The book combines all the things that I have witnessed over my life.

What has stayed with me is that how each of their lives took a different path based on who they are, the baggage they carry, their expectations and perceptions of each other and each of their relationships with themselves and each other.  Who you become based on all the luggage you carry or who you do not become is really interesting when you take a step back and look at it from a birds eye view. 

I highly recommend this book.  An American novel.

Question of the week #31

I am just going to kick this off with the question.  As we think about the future it really makes you wonder. 

Based on your retail experience, what do you envision as the future for the indoor shopping mall

When I grew up there were a few malls that we frequented; the Montgomery Mall and Tysons Corner.  Each had their respective anchor store and then of course all the chains in between.  These malls were made for American expansion not for Mom and Pop stores.  The malls exploded in the 70's.  I remember when I was working in the garment center and the Mall of America opened in Minnesota in 1992.  The enormity of the whole thing was just insane with over 520 stores.  Was that the height of the mall market?

The next level of consumer engagement in the shopping arena was the explosion of big bookstores.  They brought people in to not only read and buy the books but have a cup of coffee, use their wireless access points and meet others.  Those stores rode the wave up and down pretty quickly as Amazon encroached in their space. They also realized they were not selling books but becoming community centers.  What was left were an array of coffee shos that popped up with the same functions that people really used when they went to the book stores.  Certainly a lot less square footage was needed to make that work. 

With the advent of the Internet the marketshare of many of the stores in these malls has diminished.  Some have built an smart online platform while others have not.  Selling on line might take away from the person walking into the store on a dailiy basis.  In the past if you needed something you had to go to the store and buy it.  Now you can just sit down at your computer or pull our your phone and make a purchase. 

The knee jerk reaction to the indoor shopping mall is the same as the knee jerk reaction to the constant information flow we receive every day.  The next generation and others who are changing their careers are making products that they are passion about be it pickles, chocolate or even becoming a cobbler.  We are returning to our roots.  What happens to the big stores when we begin to rent clothes, buy less and deliver all of our content to a computer or phone.  What happens to the malls?

Real estate is still the key component to those malls.  It is the developers who will start to be saavy as the leases end and so goes another store.  The large brands will continue to want to have a brick and mortar stores but not as many.  More than likely the stores will carry less inventory in the stores and there will be ability to try on a few items for size and have them delivered to your home that day from a warehouse.  The stores will create reasons for people to come in and that does not mean having a sale.  It could be a special conversation with a buyer or a designer.  It could be a unique fashion show.  It could be a class on how to use new gadgets.  I am just making it up as I go along.  I would assume many of the malls will be converted into indoor communities from apartments, commercial office space, new restaurants, carts with local items, perhaps live theater or endless tables of ping pong. 

IMHO malls will be transformed into what people will want to engage with.  Remember it is all about what the market wants.  Some malls will remain empty but hopefully most of them will be converted into a place for communities and people to meet and greet vs shop and get crazed. 

Comodo on Macdougal Street

Kirk Love and his wife Lili have been singing the praises of Comodo.  We finally got in there for dinner.  The restaurant has about 40 seats with big huge glass windows in front and an open kitchen in the back.  A very quaint home feeling that seeps into the food too.  The staff is warm and friendly, like a family, and the food is delicious. 

Josh ordered for the three of us and we split everything.  We smelled a lot of garlic when we walked in the door so he mentioned this when he ordered.  We did not like heavy garlic so wanted to make sure we picked the right things.  The woman waiting on us said no worries.  Not sure what she told the chef but everything was pretty much garlic free and amazing. 

We began with a few appetizers.  A roasted cauliflower gratin coated with a light aioli and crispy melted Parmesan cheese.  The cauliflower could have been roasted just a bit more but the dish was really good.

Lamb sliders served on a Brazilian cheese bread with a spicy red sauce on the side for dipping.  Perfectly cooked and full of flavor.

Braised kale served alongside with grilled octopus with just a hint of mezcal.  This was probably my least favorite dish.  The octopus was a bit overcooked and could have been softer.

Swordfish ceviche.  Thinly sliced swordfish sitting in a mixture of lime and celery juice, ginger, sweet corn and corn nuts.  I also tasted a hint of coconut.  I loved this.

Another winner.  Thinly sliced brussel sprouts mixed with a mustardy-avocado Parmesan dressing and then built up into a cylinder shape.  Their version of Caesar salad. 

Sliced duck with a mixture of roasted butternut squash cubes and a whipped root vegetable on the side.  I can't remember what it was but it was rich and the perfect combo to the rest. 

Perfectly cooked steak with sauteed greens and mushrooms on the side.  Delicious.

Dessert was an intense rich chocolate cake with pumpkin seeds and a vanilla gelato.

Of course the classic Latin dessert, churros with spicy chocolate sauce on the side for dipping.

And a nice chocolate truffle to end the meal.

When it gets warm and I am hoping that will happen before July, I am looking forward to returning with the windows wide open with a little Latin music in the background, sipping some Sangria and having another meal at Comodo. 

Native Commerce and Have to Have

It is really exciting seeing companies grow and evolve.  Each company I am involved with each move forward in different directions yet the platform/foundation of the build out is very similar at the beginning stage no matter what. 

Have to Have has moved into an arena that I am so excited about.  They have built a native commerce platform.  The native commerce platform recommends products to you that are personalized and contextually relevant.  In essence a commerce enabling platform that enhances revenue dollars to publishers, brand and ecommerce sites.   The Have to Have native commerce units are contextually relevant and blend with the look and feel of the publisher's site.  Think of this as native advertising that is shoppable and visual.  The next version of the pop-up ad. 

The platform provides actionable insights to brands (trends, demand, etc.) which enables them to better merchandise and increase their sell-thru rate across platforms (mobile, tablet, desktop). They have built the technology so companies across the globe can log in and plug the widget into their site with a click of a finger.  The more you use the platform the better the technology gets for each user as the information gets processed in a way to drive the right information to the end consumer.  It works seamlessly on any platform. The product can help monetize the intent to buy that they create.  It's a monetization unit for every brand.

The conversations we were having twelve months ago are completely different than the conversations we are having today.  I walked away from the last meeting so psyched.  There is nothing like watching an entrepreneur ( there are two at Have to Have ) get excited about the company they are building, the product they have figured out and the opportunites that lay ahead. 

 

MOUSE and the public school system

I got involved with MOUSE 15 years ago for many reasons.  The first is that seeing high school kids who had zero access to technology (aka a computer) so deeply resonated with me.  What kind of world would we be if the divide only continued to grow.  I thought about the effects on the economy, the mental health effects on these kids if they were unable to compete in a world that is built on technology and the world at large if my kids did not have the ability to connect and compete with kids from all different walks of life.  There was also the piece which is believe it was important for my kids to see us give back and make a change because with privelge comes the responsiblity to give back to communities that are not as priveleged as you. 

This past week I visiited at school in Chelsea that is fairly new.  Next year they will finally have a twelth grade class so the school just started three years ago.  The concept of this particular school is that lap tops are used to teach.  The good news is the principal gets it and seriously cares about each of her students.  She knows that educating on a laptop is not the end all be all but blended learning is.  How do you use technology to let each individual grow at their own pace yet teach the fundamentals at the same time. 

There are a few things that stuck me and frustrated me on the visit.  The kids who are part of the MOUSE squad are amazing.  They are all driven, passionate about technology and understand the value of what they are doing for their schools by being the tech team. They have become leaders in their school by keeping the system up and running.  As a unit they have formed their own community and provide educate to their own peers to keep their own systems up and running.  It is always inspiring to go visit one of the public schools in our city and see the next generation of students who are coming through the NYC school system.  The MOUSE kids are generally the ones that have risen to the top.  When you meet the other kids you do not always get that good feeling but sometimes a sense of frustration and sadness of how the system does not work.

I guess in the perfect world we would put the Department of Education in cruise control for a year while we took the entire thing apart.  Clearing out of layers of jobs that do not need to exist.  Rethinking the insanity of the Regent tests where kids are being forced to learn for the test so that the school gets a good ranking and funding.  How can we nurture creative thinking on anyones part when you have to educate to a test.  The money saved would go towards building systems where teachers can share their curriculums and success from the arts to math to science.  I'd put art and music into each school where each kid had to take one of those subjects every single day.  I'd also make sure that there was a good hour in the morning and hour in the afternoon for recess in elementary school and even through junior high school.  Exercise is key.  Maybe if many of those boys were allowed to run off steam early on they would not be tagged so easily as having ADD which starts off a series of issues down the line.  I'd rethink what we are teaching the next generation.  Why isn't computer science being taught in every seventh grade class just to begin the introduction to technology.  There should be a balance between liberal arts, math, science, technology, arts, music and physical education.  How else do kids grow and find the areas that they are passionate about if they don't have access to it.  The entire system needs to be blown up and rebuilt.  The money is there it is currently just is spent on unions and overhead that is not necessary.  Sad and true.

There was one kid in the class that really stuck with me.  He was a kid who had some special needs.  This was not a kid who could go home every night and memorize for a test.  BTW, nobody should.  Education is best when you are able to identify a problem, break it down and then put it back together.  This kid had just read the book The Fault in Our Stars by John Green.  I loved the book.  He had put together a video on the book with music and words that told the story of what he got from the book.  He was so proud of his work as he should be.  It was magical watching his eyes light up as we watched his book report.  This is not a kid who could sit down and write out a book report but the good thing is he was in a school with a solid staff and principal who applauded this type of work.  This is a kid who might not pass the Regents exam and be sent somewhere else to make sure he does.  What happens to these kinds of kids who don't make it because of this type of education, they end up dropping out and it doesn't take much to see their future. 

I am so proud of what MOUSE has built.  They are honestly saving one kid at a time and that totals up to 23,000 kids we have touched.  Figuring out how to work within the public schools and be a provider of a positive program that gets the kids who are turned on by technology to move forward into higher education is amazing.  They are also providing a huge solid to the Board of Education as there are no IT people in any of the schools.  MOUSE is training students to be those IT people and they are called the MOUSE squad.  These kids are making a change and are saving the system millions of dollars.  MOUSE squad is a value add and every single junior high and high school should be required to integrate the MOUSE squad team and curriculum into their schools.  It would be a win win for everyone. 

Sara Blakely, Spanx, Woman Entrepreneur

I have wanted to meet Sara Blakely, the entrepreneur behind Spanx, for a long time and a few weeks ago we sat down to have coffee.  Spanx is a game changer for women everywhere.  The idea, the branding, the whole shebang is brilliant and who knew what a void it filled.  Sara is an incredible entrepreneur who not only came out with a article of clothing that ends up we all need but she worked her tush off (no pun intended) to build her company and her brand. 

Sara grew up in Clearwater Florida.  Her mom is an artist with a bend towards water colors.  Her father is a ferocious litigator.  Her parents are divorced.  After graduating high school Sara went on to attend the University of Florida.  First semester of her sophomore year Sara went to school in  London. The London experience was pretty amazing.  Two of Saras closest friends today were two women she roomed with there.  One went to school at Davidson and the other from Gaucher.  After two years at University of Florida she transferred to Florida State...for a boy. 

Sara tried to get her father to believe she was transferring because of the debate team but both her parents knew exactly why she transferred.  She was on the debate team in high school and college. Sara had her eyes set on becoming a lawyer.  She would go to watch her father countless times growing up doing his closing arguments in court.  Legal communications was her major.  She took the LSATs twice and bombed.  Sara says she is a terrible test taker. 

Now she had to think about plan B.  She got in her car, drove to Disneyworld and tried out for the part of Goofy.  She is 5'7" but you have to be 5'8" to get the role so instead they offered Sara the job of a Chipmunk.  Disney has a rule that if you already had a job there when you try out for another role you have to stay in the first job for a least three months before transferring.  Sara was already working as a ride attendant at the World of Motions and Horizon ride.  That particular ride was all about the future.  She went back last summer to find the ride but the ride had closed.  The job was humbling seeing people you knew in line wonder what you are doing as the ride attendant. 

She never made it to the Chipmunk job because she left to take a job selling fax machines door-to-door.  She thinks she got the job because she had a pulse.  They gave her a cubicle and a phone book and four zip codes to work with.  She cold called for seven years.  She got a business card ripped in her face at least once a week.  She would go to sales meetings and see people start to cry because they couldn't make their quota.  Truth is that this job laid the groundwork for Spanx. 

She had to wear pantyhose at work even under pants.  She hated the look with an open-toe shoe so she cut off the foot of the hose.  Sara realized how much better her butt looked when she wore the hose under her pants but wanted to get rid of the foot.  They would roll up and she figured there must be a better way.  She did some research that nobody made something like this so she took the $5K she had in her savings account and funded the prototype herself.  She did not even know she could get funding for an idea.

The process took two years which she did while she worked selling fax machines.  The first year she spent calling mills and begging them to make it.  It took an entire year for a mill to say yes.  She created the packaging on her friends computer.  She wanted the packaging to be red with a cartoon character on the front.  She knew if she got a chance to be on the shelf that this would make her product stand out.  The package was her marketing.  The name Spanx came to her one day when she was sitting in traffic.  She wrote her own patent because she did not have money for a lawyer so she bought a book in Barnes and Noble to teach her how to do it.  Then she went out on the road to start selling.

First she went to Neiman Marcus in Florida to try and sell the product.  They told her that she had to call on the buying office in Dallas.  She did not even know there was a buying office.  This is a woman who sold fax machines for seven years so she picked up the phone and got the buyer in Dallas on the phone.  She said if you come to Dallas I will give you 10 minutes.  Sara got to Dallas and had a meeting with the buyer.  After about 2 minutes in she could tell she was losing her so she asked if she would mind going to the bathroom with her to show her something.  She told her to look at her tush in the white pants she was wearing.  Then she went in the stall and put the prototype underneath her pants and came out of the stall and said now look at my tush.  The buyer saw it and got it.  Sara got her first order for seven stores in Neiman Marcus and then several stores followed.

Then the real work began.  Sara knew her product did not belong in the hoisery department but on the register in the ready to wear departments where the transaction was taking place.  So for the next two years she went on the road and stood in department stores with a table from 830-6 showing the saleswomen a photo of her butt without spanx and with spanx.  She'd go to the early store rallies to talk to the salespeople and show them a video of the product.  Soon she had built an entire sales force that she did not have to pay for.  She had won all those salespeople over because they all knew that they could sell clothes much easier with a pair of Spanx. Sara never spent a dime on formally advertising, she spoke directly to the salespeople who spoke directly to her consumer. 

For the first 18 months she shipped the products from her apartment.  One day she went for a walk with a neighbor to a bagel who was espousing the virtues of Spanx.  Sara asked her if she wanted to be her PR person and she said yes.  Then she hired an assistant to help with all her logistics such as traveling.  Two weeks in she asked her if she wanted to be in product since she had been in interior design.  She said yes too.  Both of these women have been with her 13 years. 

Sara says what you don't know if probably your best asset.  Initially she really did not know how to build a company but she did it the way she wanted to.  Once the product began to take off she quit her job at the fax machine company and grew Spanx full time.  Spanx was named product of the year in 2000 by Oprah.  Needless to say the product is sold in areas where there are shoes the clothes.  She built this company from the ground up including the shipping, marketing, advertising, PR and marketing. 

Spanx is headquartered in Atlanta.  Sara hired a CEO that allows Sara to be Chairperson and the face of the product.  She believes that you hire your weakness first.  She does tons of interviews yet they still do not advertise.  What she has built is inspiring and what is more inspiring is how she went about it.  She did not take no for an answer and had a clear vision of the product she wanted to build.  What I love about Sara is she is a totally down to earth go get 'em girl for a self-made billionaire.  Oh and her CEO who has been with her the last 11 years, she met her in the hosiery department. 

Food businesses

I see a variety of consumer food businesses.  They are such hard businesses to build but I am always taken with the entrepreneurs and the passion for their products. 

I recently met with the two co-founders of A&B pepper sauce.  They have made some inroads selling  their product and are adding a second sauce soon.  I admit that many of the products I see and taste are good not great.  I understand the void if they are making an interesting drink or something glutten free but remember this is about the product first business second. 

I love the A&B Pepper Sauce.  Am honestly eating it with everything.  It isn't too spicy but just has the perfect amount of bite.  The sauce enhances what you are eating and doesn't take it over.  I am finding myself putting the sauce out for dinner just as I put out salt and pepper. The ingredients are simple too
White Vinegar, Red Chili Pepper, Carrot, Habanero Pepper, Salt.  No sugar which is a big selling point for them.

I am not an investor but I am impressed with the taste profile they have built.  Looking forward to tasting the next product they add to the line.

 

 

Question of the week #30

It is not easy to let go when you start a company.  Eventually you are going to have to hire people in order to grow.  There is no physical way that you can do everything.  I met with a woman the other day who is having a very difficult time giving up that control.  She needs to hire a sales person desperately but the first thing she needs to come to terms with is that person will not be her.  Everyone does things a bit differently and if they don't use their own words and their own methods then they won't come across as real. 

She asked me this question:  How did you learn to let go and then manage?

This is a great question because many people have a hard time with it.  Instead of becoming good managers, role models and mentors they come micro-managers.  That is not good for anyone and that type of behavior creates a bad vibe that seeps in to the organization.

My first big job managing people was in the cosmetics department in Kings Plaza Brooklyn.  I was responsible for about 150 people.  That included each of the heads of each cosmetic line; Clinique, Estee Lauder, Lancome, Chanel etc and then the people that worked under them.  There was a day time staff and a night time staff. 

Maybe it was my training from running the sports teams at the Montgomery County Recreation Department or being a camp counselor but the first thing I did was sit down with head of each line and find a connection.  I went through their books to make sure that their inventory was current.  In cosmetics there is a rep that comes out to each department to work with their teams and fills orders.  I met with them too and made each of them take back all the old inventory and items that were not turning.  That helped our inventory turn quicker and put cash into inventory that was not going to sit dormant.  Then I helped each of them clean up their drawers and the cases to present a better face to the customers.

I made sure I met and spoke with each of the people that worked under each brand.  Mostly younger women worked at night that were in college or high school so I became a role model to them although I wasn't that much older.  I was 22. 

There was no way in hell I could do what 150 women were doing at the same time so I figured out how to manage from top down.  I let each manager of each brand plan their coverage.  It was up to them to make sure the schedule was done by a certain time every week so everyone knew the hours they were going to work.  The hours were ramped up when there was an event such as product having a special sale or a new product being launched.  It made them each responsible for their own departments.

Once someone who ran one of the brands took the first two days of their event off because her husband had some event he had to go to and she tagged along.  I had no idea she had done that because I trusted her to run her department.  I gave her that responsibility but responsibility can easily be pulled back.  When she returned we had a conversation and I never trusted her again.  I made her show me her schedule each week and I looked over it with a fine tooth comb.  I looked at everything twice when she asked me to sign something.  I went into her books at least once a week to make sure she was doing the right thing.  I made sure I would meet with her rep when she came into the store to insure that she was keeping her inventories clean. She had betrayed my trust and there are repercussions from that. 

I did not do that with anyone else because I worked with each of them individually to set up the expectations that I had and we built a mutual trust.  Those expectations ended up pullting more money in all of their pockets because I showed them how to run a clean business.  I still think about that experience.  It was certainly unique for my age considering my own personal experience was limited but I grabbed the opportunity by the horns.  For years i'd go back and see each of those women when I'd tour the stores and spend time with them.  They taught me a lot and I taught them a lot in return.  That is what makes for a great management situation. 

 

Chelsea Market

Chelsea Market has evolved into a pretty remarkable place.  The Nut Box just opened a huge retail space right next door to Num Pang Sandwich Shop.  This is Num Pangs second shop.  Both great additions.  But the absolute best addition is the reopening of the Lobster Place.  

The two guys behind the Lobster Place have done an incredible job.  Super smart well thought out flow.  If you want to know how to build a market where people can also sit down and enjoy the wares this is it.  Very European. I also love the black chalkboard feel with white print.

In the back right corner is the Shack to take out.

The sushi area.  You can sit at the bar, take it to go or just watch.  Around the parameter of the area are Japanese products to buy.

People love to eat lobsters here.  This is great.  All different sizes of steamed lobsters. 

Next to the lobsters is a standing area to dig in and eat your lobster.

Oysters?  You name if they have it.  Sit down and enjoy. 

There are other random areas to sit.  Products are sprinkled around each location too.  Here is one of the cases filled with herring.  They also sell really fresh beautiful raw fish to take home and cook for dinner.

Next door they have built a restaurant called Cull & PIstol, an oyster bar.  I had lunch there. Terrible picture but the vibe in there is warm and inviting.  A cool fish shack.

Really good oysters.

My friend had a lobster roll with old bay fries. 

I went for the whole fish. 

For dessert they serve a little scoop of gelato as part of your meal.  This was creamsickle. I brought Fred back to take a look en route to dinner that night.  Looking forward to returning for dinner very soon.