To celebrate the 2021 Women in Entrepreneurship Week, Oct. 18-22, The Skandalaris Center is highlighting female-founded ventures and sharing their startup stories.
Today’s Featured Women Entrepreneurs are Olivia Bordson (BSBA ’15) and Jessica Landzberg (BSBA ’17) of Pareto.
Olivia and Jessica both attended Olin Business School and graduated in 2015 and 2017, respectively. Olivia focused on a degree in Economics & Strategy / Marketing, while Jessica studied Finance / Accounting. They started Pareto, located in Chicago, IL, in the summer of 2020, and continue to be the two-woman driving force behind their brand. Pareto was a finalist for Skandalaris’ 2021 Global Impact Award.
Tell us your startup story – how did you get to where you are now?
Pareto is a DTC (direct to consumer) women’s apparel brand focused on building timeless wardrobe essentials. The brand was born from our frustration with the retail industry’s focus on more. In our personal and professional lives, we watched all three stakeholders losing. Women are wearing 20% of their closets, 80% of the time, yet brands are pumping out more product than ever before, all while the environment suffers. We’ve set out to show the world the power of fewer, more purposeful.
As a female-identifying entrepreneur, what challenges did you face? What tactics did you use to overcome those challenges?
The biggest challenge for us has been finding other female entrepreneurs for mentorship and inspiration. We’ve experienced firsthand how impactful it is to be exposed to women charting their own paths, especially if those women have similar interests, working styles, career aspirations, etc. to us. We’ve worked hard to connect with amazing women in order to ensure we have inspiring, relatable people to look up to and receive guidance from along our journey.
What is the biggest lesson you’ve learned as an entrepreneur?
It is easy to get discouraged by people questioning your business and ideas, especially early on. We’ve learned that it is very important to maintain conviction even in the face of criticism. In fact, having others question why you are doing something a certain way may mean you are on to something bigger than even you expect. While it is important to listen and incorporate feedback, sometimes criticism is a way of protecting the status quo.
What advice would you give to women considering creating a startup or entering a career in entrepreneurship?
If you have an idea that is keeping you up at night, don’t let cost be the barrier. Invest the time in understanding the startup costs – you may be surprised how far you can get with limited financial resources. Also, know that a career in entrepreneurship will likely require a diverse skill set – the early days of building a company require an “all hands on deck” mentality. Each day may look very different and you need to be comfortable with that…but that is what makes entrepreneurship so fun!
If applicable, what activities, groups, etc. were you involved with at WashU? What student groups, professors, classes had the biggest impact on you during your time at WashU?
Both of our WashU experiences played an important role in launching Pareto. Jess’s involvement in StEP, (Skandalaris’ Student Entrepreneurial Program) co-founding the Bear-y Sweet Shoppe, uncovered her love to build things. Her Retail Management and Luxury Goods courses with Professor Sneider also fostered her retail obsession. Olivia’s internship with a St. Louis start-up through the Skandalaris Internship Program (SKIP) taught her many valuable skills and lessons about what to do (and not do) in the early stages of building a new venture.
Shop Pareto’s line of timeless wardrobe essentials at www.shoppareto.com. Follow Pareto on Instagram @shop_Pareto and on Facebook @shopPareto