The Revenue Lessons We Can Still Learn From The Original Self-Made Women

Some people simply have a natural inclination for running and operating a revenue generating business. There are individuals that spend time studying business in school. While others start businesses out of necessity or simply stumble upon them. Taking a peek into the past, we can quickly learn that several women had to “get it out the mud”. Although these women are entrepreneurs of years past, lessons and strategies can still apply to the modern business.

According to research conducted by Gusto, a technology company, Women account for 49% of new businesses in the last year. This is a large increase in newly formed, women led businesses since 2019. In fact, the increase is 69%. The foundation laid by women of the past, paved the way for successful entrepreneurship for women today.

Let’s start from the bottom, well the feet. Award winning, Beth Levine, became a legendary designer whose contributions changed the history of shoe design. Often referred to as the First Lady of Shoes, Beth is credited with many innovations that impact fashion to this day. A few of her impressionable creations include:

• clear plastic heels
• the stretch boot with no zipper
• several kitschy creations
• upgrading the stiletto- reinforcing the bottom half of the ultrathin heels with steel
• Spring-o-Lator
• stocking shoe

Beth was committed to quality, innovation and staying modern. No was simply not an option. According to a quote from her daughter, Anna Thomson-Wilson, “My mother was always trying to invent new ways of doing things she just said no is not an answer.”

A few strategies can be learned from the accomplishments of Beth. As a shoe model, she had a first hand experience with fashion, as a woman, she knew what women wear needed, even if it did not exist yet, and lastly, she worked tirelessly to elevate and expound on the experience of wearing a shoe. Business owners of today would be wise to remember to keep their core audience in mind and work to solve a problem, even if others are not aware that the problem exists.

Next up we have Sarah Goode. Sarah’s patented invention, the cabinet bed, was inspired by her customers. They complained of having small living quarters and the need to maximize space. Sarah listened to the needs of her customers to solve this particular problem. Her design resulted in a rolltop desk for day time use and a pull out bed including mattress and spring support, for the night.

Sarah was not new to the carpentry space. Both her father and her husband were both carpenters. The mastery of carpentry coupled with Sarah’s desire to grow a successful business led her down the path of meeting the needs of her target consumer.

In addition, two key lessons from Sarah’s work can be observed by modern business owners. The first, study your craft/industry. Being a well rounded expert within your business can afford you the opportunity to develop products such as the cabinet bed. Well thought out products can grant you the edge on the competitor. Secondly, listen to the wants and needs of your customers. The majority of people are buying out of necessity. Based on a 2024 survey, consumers said they are prioritizing need based purchase versus buying items they want.

Lessons and strategies from yesterday can still apply to the modern businesses of today. These women entrepreneurs had passion for their business, took the time to listen to their clientele and made business decisions that impacted their customers lives. Their hard work and ingenuity earned them a place in history, I meant herstory.