By now, I’m sure many of you have read about the many issues that rose from the bankruptcy of NastyGal. Trouble for the company became apparent when founder Sophia Amoruso stepped down as CEO in the start of 2015. Many speculated that the “Cinderella of Tech” was abandoning an already sinking ship. In late 2016 NastyGal filed for bankruptcy, eventually being acquired by British online fashion retailer BooHoo at the end of February of this year. A company that was once valued at over $100 million was bought out for a mere $20 million.
There are articles going around now from various media outlets that this could be a lesson about millennials, that this company’s failure is somehow reflective of all millennials and their work ethic. Call me crazy, but I still think that Amoruso can look back at her NastyGal career and be proud of what she accomplished.
It’s no secret that I love the book #Girlboss – I suggest it to most people that I know as a must read. I think the story of someone who came from the bottom, someone who was essentially homeless for periods at a time, building up a company that was estimated at such a high amount, is extremely impressive. What’s even more impressive to me is that she didn’t do so intentionally. She started something that she was passionate about and thrived in that environment. She took the things that she loved and made a career out of it, almost accidentally. What was intended to be something that could help make extra cash, resulted in an entire #Girlboss empire.
NastyGal may soon be defunct but the legacy that Amoruso leaves behind is anything but. Not only does she have the popular book but she also developed a series for Netflix, has a popular podcast and recently announced she would be starting a media company, all under her own #Girlboss brand.
So fine, her first venture didn’t pan out the way she had hoped, it happens. That doesn’t mean that the lessons she’s learned and has shared with her fans are no longer relevant.
My Favourite #Girlboss Takeaways:
- A #Girlboss knows when to throw punches and when to roll with them
- Treat your mind like your money – don’t waste it
- Money looks better in the bank than on your feet
- The straight and narrow is not the only way to success
I’m sure I know what you’re thinking as you read the list; “Have you really never heard these quotes before that book? Are they really that groundbreaking to you?”
And the answer is yes, I have heard them before. But never from someone who was on a level I could relate to. Someone who had worked hard in a nontraditional way and had it pay off. I also loved the no bullshit approach that Amoruso took throughout her entire book. She called herself out on bull shit she pulled and called out others when she felt necessary as well. I found it refreshing and it’s still going to be one of my go to books.
So, what am I trying to say? Basically to chill and give the woman a chance. She’s come a long way from where she started and a setback doesn’t equal the end. Let’s continue to empower our entrepreneurial sisters and look forward to see what is next for the #Girlboss brand.