2020 was a year of many things. From new schedules to no schedules to anxiety about what would happen next, the founders of East Third Collective—a purveyor of meaningful, unique gifts—spent a significant portion of that year reflecting. They were ready to take on new and challenging experiences that would not only test their friendship but business skills as well.
The group had spent many reunion trips and glasses of wine discussing working together. This idea of working with friends and creating something meaningful had always been a pie-in-the-sky goal.
While collaborating to find the perfect, giftable blanket, Nikki, Kat, and Darcie talked about sending gifts and how searching for that ideal item was cumbersome. The trio began asking lots of questions. How could they make gifting as fun and easy as receiving gifts? How could they support small businesses that make unique products? How could they create a small shop experience in an online world?
And so, in a nod to where the group’s friendship began, East Third Collective (ETC) was born to simplify the gifting experience in a meaningful and beautiful way.
With their lightning-fast ascension in the business world, Nikki, Kat, and Darcie have learned a thing or two about business ownership. Read on for their top tips for new female entrepreneurs.
1. Leverage your girl power.
As a female-owned and operated business, it’s essential for ETC to support and encourage other female bosses! The company intentionally sources products from women- and BIPOC-owned businesses because they believe in the powerful effect this type of representation can have. Additionally, ETC makes it easy to support these shops on its site under “Shop by Purpose,” where shoppers can filter products that are BIPOC and women-owned, good for the earth, good for humanity, made in the USA, or artisan and handcrafted.
Harnessing female empowerment also extends beyond the business. The founders take great joy in their children witnessing their journey of building a company from the ground up and nurturing its growth. Furthermore, as more women-owned businesses emerge, it paves the way for young girls to envision a path that aligns with their aspirations.
Looking at the broader picture, ETC’s founders believe incorporating women's perspectives into all aspects of business is essential for long-term prosperity, and embracing diversity and inclusion in the workplace enhances a company's resilience.
Other female business owners should lean into their girl power, too. The trio has found that many other female-owned businesses are enthusiastic about collaborating to make the business world more female-friendly overall!
2. Find what makes you unique, then stick to it.
ETC believes mindfully chosen and meaningfully made products make the best gifts. At ETC, this means partnering with vendors doing good for the world, whether eco-conscious, giving back to local communities, or empowering others with fulfilling employment opportunities. The founders believe today’s consumers are looking for ways to gift meaningfully, and they love providing a spotlight for these great companies. This mission-driven belief sets ETC apart from other online gifting sites and competitors and repeatedly draws loyal customers back.
3. Marketing is storytelling.
Not only does the ETC team support companies that are putting good into the world, but they also focus on sourcing quality products that will be loved and stand the test of time. All products are tested to meet the brand’s high standards. Plus, they purposely avoid “throw-away items” or fillers.
Doing all this work behind the scenes is excellent, but it’s useless if consumers don’t know the merits of their selected products. The ETC founders incorporate this information into their marketing materials on social media, emails, and websites. After all, great marketing is just great storytelling. Tell your brand’s story like you’re talking to an old friend, and you’ll find marketing success.
4. Going into business with friends is tricky but not impossible.
Being friends for 20 years before starting a business comes with unique challenges and opportunities. The ETC women already knew who would keep the group laughing with sarcasm and wit, who would keep the company up-to-date on trends, and who would be an excellent taskmaster.
Still, the women had never “worked” together, per se. But they kept one principle in mind through the entire business-building process: their friendship was more important to each of them than the business. As they started to draft their operating agreement, they included language around open and honest communication and placing the interests of friendship before the company. Now, the group combs through the agreement every six months and ensures they are all on the same page. There have been some difficult conversations, but they’ve gotten through them as friends.
Additionally, the team has found in-person get-togethers to be especially rewarding. These moments allow them to dream big, strategize, plan, and relax as a group, all while strengthening the bonds of friendship.
5. Expect to learn a lot every single day.
Every single day of owning your own business presents new challenges. Whether it’s working to understand the ever-changing Instagram algorithms, diving into how to get products to show up in Google searches through search engine optimization, meta descriptions, and alt-text, or even simply figuring out how to add photographs to a website without slowing it down, the ETC team find themselves regularly learning new things.
Patience is key. Even though entrepreneurs are always learning, they have the luxury of learning and growing at their own pace. Good communication with team members can also help conquer novel challenges.
6. Find your brand’s core mission and stick to it.
Research shows consumers are paying more attention to the products they buy. Where goods are from and how they are made matter. And consumers notice if an item is sustainable, eco-friendly, or supports a small business. Except for single company sites, only a few retail sites cultivate products that match these identifiers. East Third Collective makes it easy to gift with a good conscience.
The brand also uses eco-friendly and recyclable packaging that’s pared down to avoid waste yet remains beautiful. Additionally, many ETC vendors are sustainable, donate a percentage of profits to global initiatives for the planet, or are B-Corp certified. Since ETC customers can shop for multiple vendors on the site, they can send a cohesive gift without multiple shipments to their recipient, resulting in a smaller carbon footprint. All of these actions support ETC’s mission to make gifting more sustainable.
Companies across industries can and should incorporate vision-driven work into their mission statement, making it a core tenet of their business operations. It will pay dividends in growth, customer satisfaction, and employee retention.
The East Third Collective team’s final words of wisdom are to follow your business dreams but give yourself plenty of room for mistakes and lots of learning! The entrepreneurship journey is arduous, but it is also gratifying. The above tips will help you get your footing, but don’t forget to enjoy the trip. The more women that enter the business world, the better off we’ll all be!
