Tag Archives: business

What #GIRLBOSS Taught Me About Money

#GIRLBOSSI jumped on the bandwagon and recently read Sophia Amoruso’s new book #GIRLBOSS. (I checked it out from the library, true #GIRLBOSS style.) Sophia is founder, CEO and Creative Director of the uber-popular, Nasty Gal— an online clothing retailer. I expected the book to be mostly about her rise to the top and how she encourages young girls to get out there and be a… well… #GIRLBOSS. And while ultimately, it was all that, it was also exceeded my expectations.

Sophia gets frank about money and the financial mistakes she’s made. And good god, did I appreciate that. Many of the financial gurus or entrepreneurs out there say that they were once in debt or worked as a waitress for tips. They don’t usually say that a Victoria Secret credit card ruined their credit. She writes, “Like my A-cup bra did for me, it is the little things that can and will wreck your credit. As distasteful as it may seem when you’re busy plotting to take over the world, it’s equally important to stay on top of your bills… You could suddenly find the apartment of your dreams only to be denied because of that goddamned Target card you signed up for and forgot about while buying a mop, a sports bra, and mayonnaise.” Thanks for the frankness, Sophia.

Ironically, her bad credit was a blessing in disguise. It forced her to build Nasty Gal to $28 million in revenue without borrowing any money. She also gets real about asking for what you want, whether it’s a raise of that thrift store sweater for $1.00 off. And most importantly she stresses how incredibly hard she had to work to achieve her success. Everyone loves a success story, but we often don’t hear about the dumpster diving, hitchhiking, and obsession that it took to get there.

When Nasty Gal moved from eBay to an online store, Sophia had saved almost a million dollars in cash. That’s such an inspiration to me. My goal of buying a house in cash almost seems piddly in comparison. But it also seems much more do-able. I know that my goal is going to take real, hard sacrifices and a lot of hard work.

After all, “money looks better in the bank than on your feet.”

Have you read #GIRLBOSS yet? What did you think of it? Let me know in the comments!

love,
melanie