Interview With Social Media Pioneer and Serial Entrepreneur Patricia Handschiegel

(www.bizchicksrule.com) — Patricia Handschiegel has done more at 36 than many businesswomen do in a lifetime. She sold social media company Stylediary.net in 2007 and is currently working on selling a television show. Patricia spilled the beans on her past ventures and lessons learned for her future business efforts.

Kristen, Biz Chicks Rule: You’re a self-described serial entrepreneur. When were you bitten with the entrepreneur bug, and how did you pick a winner the first time out of the gate?

Patricia Handschiegel: I think I’ve always had it in me. I used to invent play businesses and companies as a little girl with my sister and friends, and started creating my first entrepreneurial projects very early in my life. I was lucky to have a winner out of the gate with Stylediary. I think it was because I really gave a lot of thought to what was missing in the market and tried to create it. I also had some very good people supporting me in my work.

Kristen: When you were a kid, what did you think you’d be when you grew up? As an adult, what do you think you’ll be when you grow up?

Patricia Handschiegel: I thought I’d end up being an artist initially. By the time I was 15 or 16, though, I had my sites on creating a media company and somehow getting into social change. As an adult, I think I really believed I’d be a career publicist, then move into lobbying. I went toward entrepreneurship after a few years because I thought it’d be a better, quicker way to do this.

Kristen: What advice do you have for entrepreneurial moms?

Patricia Handschiegel: To stay focused and to know their value, and create companies where there are gray areas. I think the movement of moms getting into entrepreneurship is excellent. I’m an enormous supporter of these women.

Kristen: What is a typical day like?

Patricia Handschiegel: Really intense. I wake up early and start working right away because I’m the most mentally productive in the morning, so it’s a lot of business development, calls, meetings, etc. I take a break usually around 4 or 5pm, usually to work out (though I presently have a broken ankle). I’m most creatively productive at night so I do a lot of the writing and blogging then. Balance is a big thing for me. I may not always have time to do social stuff, but I make it a point to live well in every aspect that I can. Even if it’s just fresh flowers for the house, I try to keep my experiences positive.

Kristen: How did you launch your internet company?

Patricia Handschiegel: I came from a very different mindset with it. I believed you can take very small steps towards something versus always needing to go big. This was reflective with my first internet company. I made it small, on a free ‘host your own website’ on the then independent iVillage.com. One weekend and it was on. I made bigger moves from there.

Kristen: What gave you the inspiration?

Patricia Handschiegel: Social change. There is nothing more than I want than to inspire people and to make a difference. I felt like the main way I could potentially do this was through entrepreneurship. I have always loved media, even as a child, so a media company was the direction I wanted to head.

Kristen: What obstacles did other start ups like yours present as companies started trying to do the same?

Patricia Handschiegel: I think people misunderstand competition. To me, it’s proof of concept. I was always very honored to see people launch things that were similar to Stylediary. It only pushed me harder to ensure we kept our position.

Kristen: How did you differentiate?

Patricia Handschiegel: I think a lot of it came from my background. I have a very extensive history with the internet, from engineering level in IP telecom to consumer facing media and applications. A lot of competitors, for example, went with full social network models, but because of my background in the industry, I knew community would only be a feature. It helped a lot.

Kristen: What did you do, if anything, to help sell your company?

Patricia Handschiegel: I actually did a lot. I came up (was trained) by two very successful serial entrepreneurs so I spent probably 1.5 years positioning in the market specifically with the hope to either raise capital or sell. I spent a lot of time networking and focusing on business development. I’m neurotically strategic. Nothing happens unless it absolutely fits into the bigger plan.

Kristen: What are some of the mistakes you think internet entrepreneurs make?

Patricia Handschiegel: Creating ideas that are too late/early to market, failing to truly know their market, lack of focus/target. I think a lot of internet entrepreneurs misunderstand the money potential in the market and far too many focus on exit. Only 86 web companies sold last year out of thousands that exist. I also think many web entrepreneurs completely misunderstand raising capital, etc. There is an air of sexiness to it but its funny – any seasoned entrepreneur, or even big VC, will tell you it is not the ideal expansion model. I see a lot of entrepreneurs networking at the wrong level in the market, etc.

Kristen: What do you think are some of the obstacles for women in tech? Is there really a "blogging glass ceiling?"

Patricia Handschiegel: I think the biggest obstacle for all entrepreneurs – regardless of gender – is a lack of understanding of the various languages people speak in different areas of the business. I have never – and I mean never – once experienced bias, a glass ceiling, etc, and I’ve been in tech/internet for more than 10 years. I see more people – not just women – completely misunderstand how to speak to the target audience (VC, tech bloggers, etc.) than anything else. I think many obstacles in the industry come up because of this more than anything that has to do with gender.

Kristen: What are your top tips for start ups dealing with the economy right now?

Patricia Handschiegel: I think it all boils down to focus and keeping your costs/expenses low. That should be the plan regardless of condition of market. Most new start ups are going to struggle either way.

Kristen: You’ve expanded into entertainment, which you were able to do fairly quickly. What did you do to succeed in moving to the market?

Patricia Handschiegel: Again, it all boils down to doing the homework and understanding the language of value to whoever you’re pitching. Within hours I had booked meetings with some of the top people in the business – it wasn’t because there’s anything great about me, or what I’m doing. It’s because I took the time to learn what constituted value to that audience, then pitched it.

Kristen: What are you working on now?

Patricia Handschiegel: I’m still very much in internet business, but have expanded into television. I’m the creator/producer of a broadcast TV concept that currently has strong interest, producing and creating web TV content and exploring various partnerships. It’s part of my new start-up, 9 Group. I recently helped raise awareness for a bill to be passed, the Protect Our Children Act, and am working on a script and a book. I’m exploring the idea of raising a small angel round with a new media company in mind but we’ll see. It won’t happen now – I’m planning for the future.

Kristen: What’s next for you?

Patricia Handschiegel: My goal in all of my projects is to help bridge the gap between traditional platforms (TV, print media, etc.) and the web. I’d like to create models for charities to leverage the web.

Follow Patricia’s business endeavors at DailyPatricia.com.

Contents © Copyright 2008 Kristen King

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