Girls In Tech

Guest blog entry written by Cheri Beranek, CEO and President, Clearfield, Inc.

Throughout my career, I have worked almost exclusively in the area of emerging technologies. I cannot imagine a more exciting sector in which to work. I also cannot imagine a more daunting, intellectually challenging area to spend one’s waking hours.

As President and CEO of Clearfield, Inc., a fiber management firm in the telecommunications networking industry, I am fortunate to be surrounded by brilliant technical minds. I have learned that to effectively manage and lead technical brilliance, especially if your skill set is not particularly technical, there are some general guidelines. Here are some of the rules that have helped me:

1)    Do not be afraid to ask questions – I’m a marketing person not engineer at heart, and my kids are more tech savvy than I am.  But with a graduate degree in communication, I’ve learned that asking GOOD questions is as important as having the answers. Not only does it challenge the technology gurus to think outside of the box and validate their positions, but is also allows us to better formulate the advantages of our products/services into the value proposition that resonates with our client community.

2)    Trust your instincts – Good ideas, whether technical or not, resonate in the gut.  Technology firms should be nimble and move quickly.  That requires a culture that’s instinctive – trusting your gut, but verifying the variables to ensure appropriate risk/reward measures are in place.

3)    Remember the soft side – people.  Technology is still a people business and truly caring for the people who make the technology happen creates an environment that fosters creativity.

4)    Get out of the way – This is often the hardest part.  As a non-technical head of a technology company, my biggest contribution – and challenge, is to get out of the way.  Let people do their thing. And, perhaps most importantly, remove the obstacles that get in people’s way.

The best rule, of course, is that no rule is absolute. Everyone – technical genius or not – manages or is managed differently. One rule that is an absolute for me, however, is:  Companies are like communities – not families. Families do not choose each other. A business that operates like a small community – where every individual chooses to work because of the environment and infrastructure — will go on to do great things.

It’s working for Clearfield, anyway.

In 2007, Cheri Beranek was named President and CEO of Clearfield, Inc. (Nasdaq: CLFD). Considered a visionary in the telecommunications networking industry, Beranek has lead the company to unprecedented international growth, new product development, and, for the first time in the company’s history, four years of increasing profitability.

Tags: Adriana Gascoigne, CEO, Cheri Beranek, Clearfield, girls in tech, role model, technology, women in tech
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Guest blog interview: Lisa Stein is the Founder and CEO of Revolutions, Inc., the largest Internet dealer of durable medical equipment.   Revolutions runs eight websites in the DME industry, including SpinLife.com, its flagship site.  Please find the transcript of the interview between the Financial Bin’s David Domzalski and Lisa below:

David Domzalski, Financial Bin: Please provide a brief background of your experiences prior to your current position.

Lisa Stein, Revolutions, Inc.: Business is in my blood.  My family owned and operated a meat processing plant and as a teen I began working in the family business.  I grew up knowing that I would build a business of my own.

My intro to tech was getting engaged in the world of digital content when I was at Cardinal Health and we started looking at digital services related to promoting pharmaceutical products.  I was working on early Internet offerings and was therefore able to incorporate that Internet piece into the job I did.  I was lucky to be in a big corporation that functioned very entrepreneurially.  When I left to launch my own company, I didn’t buy a company that was in the tech world.  Within months I realized it was a mistake to not be in the Internet world so I found a way to create a tech company out of a wholesale company.

DD: What does a typical day look like for you? What do you like best about your field?

LS: Given the size of my company my day is spent generally in one on one meetings with my senior department managers.  Our whole team huddles first thing in the morning to share our individual goals for the day.  It’s a 10-minute meeting and we talk about what we need to accomplish. The rest of my day is spent analyzing market opportunities and company performance, evaluating site design changes, and evaluating new product options.  From a tech aspect, half of the people in our company are virtual so we communicate largely electronically.  I live, eat, breath and sleep within Microsoft Outlook.  Because we move so fast, if it isn’t recorded it doesn’t happen.  We use multiple, digital management tools to move many projects forward at the same time.  But we try to end the week with a shared glass of wine and one on one contact so we maintain the human element.

The unbelievable growth opportunity in my field is what I still like best.  Even though we have been doing this 12 years e-commerce is still in its infancy.

DD: Why did you choose this field in particular?

LS: Opportunity played a big role in the evolution of my business.  I knew the Internet was where I ultimately wanted to be.  The durable medical equipment industry was years behind on the Internet and there was no obvious national player.  I had the technology and marketing expertise.  Product Professionals had the vendor relationships and customers.  So, In 2000 I launched SpinLife.com.  Essentially, we filled the void that I saw in the marketplace.

DD: What challenges have you faced in the tech industry?

LS: In the case of the Internet, standard software for what we do is lacking.  We had to create it for ourselves. In the end, that proved a blessing in disguise but initially it was a challenge.

It is also challenging that there aren’t enough trained and knowledgeable people available.  Because of that, we bring young people on board and train them for what they do. However we sometimes lose them later as they are in such high demand.

DD: Who mentored you along the way?

LS: I did not have one individual mentor but was very fortunate to have a lot of really great bosses.  In the 1980’s Bill Burke, was a terrifically supportive boss at Fitch, an industrial design firm.   At Cardinal Health then chairman Robert Walter gave me a great opportunity and created an entrepreneurial environment within a publicly traded company.  Today I am blessed to belong to YPO where I have amazing peer support from other CEO’s, some of whom are in the tech world as well.

DD: What books would you suggest for other women in the field to read?

LS: Right now, I would suggest that everybody read Steve Jobs’ biography.  It’s not only a great read, but also a fascinating look at the management of arguably the most successful tech company in the world.  I generally don’t take business books too seriously but I was so inspired by some of the things I read in Jobs’ book that I reorganized aspects of my company that very next morning.

DD: What advice can you offer to women who are executives, business owners, or entrepreneurs in the tech field? Where should someone starting out go to school or get their first job?

LS: Today there are so many unlimited opportunities that if you think you want to start your own business I would advise doing it sooner than later. Don’t be afraid to take risks. I firmly believe that it is better to potentially try something and fail while you are young and the market is hot as you can recover and try again. This is an industry where you can learn and recover rapidly.

In terms of getting a first job, I would encourage working for a company that encourages entrepreneurialism and initiative. I believe in throwing irrational levels of responsibility at bright, young people.  The payoff is an amazing staff that figures out how to make things work.

Make sure to check out the Financial Bin’s first book, Entrepreneur Intervention: Triumphs & Failures of Entrepreneurs, available now in paperback on Amazon and CreateSpace and electronically through Kindle, Nook, and iBooks.

Tags: Adriana Gascoigne, CEO, David Domzalski, Financial Bin, girls in tech, Lisa Stein, women in tech
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Guest blog entry written by Jennifer Hyman, co-founder and CEO, Rent the Runway

Neither Jenny (my co-founder, President of Rent the Runway) and I had a background in technology prior to Rent the Runway. You could say that we were thrown into it. Technology is the backbone of our growth right now and vital to our business. In the beginning we outsourced some of the development and then we gradually built our amazing in-house team. Due to that, Jenny and I got fully involved with a lot of the technology. I would not go as far as saying that we can code, but we can carry on a conversation about the technology of our site and we can interview and hire people effectively. There is a lot of work that we are doing to get us to the next point of growth, and we are really focused on technology right now.

Before finding Jonathan, our Senior Vice President of Engineering, Jenny and I had to delegate several of the responsibilities on the technology team to non-tech people in the company. At one point or another, several of our employees experienced learning QA, creating wireframes and understanding how to create a product vision. From that process, we realized that tech is not another language. It is vitally important and should not be delegated off to another part of the company. It created far more of a collaborative culture at Rent the Runway amongst technology and every division of our business.

About Jennifer Hyman

Jennifer Hyman has been the Chief Executive Officer of Rent the Runway since the company’s inception in November 2009.  She is responsible for all areas of the business including technology, fashion, sales, marketing, operations, customer service, and team management, while also serving as the company spokesperson.   Most well-known within the entrepreneurial and fashion communities for her phenomenal marketing abilities, Jennifer was named as the Chief Marketing Officer of Fortune magazine’s “Executive Dream Team.”

Jennifer co-founded Rent the Runway with her Harvard Business School classmate Jennifer Fleiss.  After receiving approximately $31 million in venture capital from Bain Capital Ventures, Highland Capital and Kleiner Perkins Caufield & Byers, they have quickly built the company to include 1.5 million members, over 60 employees and 150 designer brands.  Rent the Runway is a members-only online fashion community that builds customer loyalty for designer brands by enabling women to rent dresses and accessories for all the special occasions in their lives. As the “Netflix for fashion,” Rent the Runway encourages women to live the life they dream today.

Within only two years of business Rent the Runway has been honored with numerous recognitions, including Time Magazine’s “50 Best Websites of 2010,” Forbes’ “15 Names You Need to Know in 2011,” Fast Company’s “10 Most Innovative Fashion  Companies of the Year” and Newsweek’s “Best Ways to Save in 2011.”  Additionally, Jennifer and her co-founder were named as Inc. Magazine’s “Top 30 Under 30,” Fashionista’s “Fashionista  50: The Most Influential People in New York Fashion,” and the New York Daily News “Fashion Week Top 20 People Cutting a Bold Figure in New York Fashion.”

Prior to Rent the Runway, Jennifer was the Director of Business Development at IMG where she focused on the creation of new media businesses for IMG’s Fashion Division. She also ran an online advertising sales team at WeddingChannel.com and was an in-house entrepreneur at Starwood Hotels, creating Starwood’s first wedding business which was recognized on the Oprah Winfrey Show for its innovation.

Jennifer received her BA from Harvard University and MBA from Harvard Business School.  She currently resides in New York City where she enjoys the entrepreneurial lifestyle, neighborhood restaurants, and socializing with her friends and family.

Tags: Adriana Gascoigne, CEO, girls in tech, Jennifer Hyman, Online retail, Rent The Runway, women in tech
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In today’s economy, as the unemployment rate continues to rise, many people are thinking about ways to start their own business.  Some are taking this time as an opportunity to reevaluate their careers and determine what path they want to take.

Whether you’re looking to start your own venture, learning the ropes at your first entry-level job or leading a successful company and looking to reach new heights, the Stanford Women in Business (SWIB) group’s Spring conference will be one you don’t want to miss.

Entitled, “I Don’t Know to CEO: Inspiration at Every Milestone,” the mission of the conference is to educate you, motivate you and inspire you to achieve success at every point in your career.  It provides an opportunity to hear stories from successful leaders, participate in hands-on conference workshops, and in the process, broaden your definition of the path a career can and should take.

An impressive lineup of speakers will be featured including the Executive Director of Wikipedia, Inventor of Gmail, Founding Executive of Yahoo, Senior VP of Pandora, Co-Founder of Youtube, the Founders of Meebo and many more.

Click here to check out the complete list of speakers and workshops.

The event will take place on Saturday, April 25 at the Annenburg Auditorium and is open to both men and women.  Students attend free and the cost for non-students is only $5.  To register, visit http://swib.stanford.edu/idk2ceo/2009/home.html

About Stanford Women in Business
The vision of SWIB is to provide the women of Stanford University an opportunity to build a foundation in business and join an encouraging community of aspiring and successful businesswomen. SWIB intends to equip young women with the tools necessary to seize their talent and succeed in the world of business. Through events and programs such as business skill workshops, leadership conferences, career exposès, or mentorship pairings, SWIB is helping women find career direction, network with alumni and peers, and set and achieve ambitious career goals. To learn more about SWIB visit http://swib.stanford.edu/

Tags: "Lucia Giacomantonio", CEO, Stanford, Stanford Women In Business, SWIB, women
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