MILLENNIAL ENTREPRENEURS DO IT DIFFERENT
Written on the 28 June 2016 by Laura Daquino
JANE Lu is known as 'the lazy ceo' on Instagram but she is nothing of this description, besides being at liberty to work from bed in her pyjamas.
It's a new model for a business community where 'membership' is free and the number one thing being exchanged is ideas, not money.
Lu's fellow millennial cofounder, Gen George (pictured centre right, left of Lu), says the group started because the women reached a situation where they felt they were alone in business.
Entrepreneurs George and Lu have always followed a pioneer approach in business.
George disrupted the recruitment industry in 2013 with her startup OneShift, matching job-seekers to businesses.
Lu firmly believes social clicks are transferrable to financial tips, with the rise of Showpo's Instagram account somewhat a mirror reflection of turnover growth.
She's operating in a saturated space, the fast fashion world, which is estimated to currently be reaping revenues of $1.3 billion and is tipped to experience annual growth of 11 per cent between 2015 and 2020.
Tying it back to the origins of LMBDW, Lu says relationships should be prioritised in business.
While she's encouraging of collaboration, Lu warns co-ownership can go pear-shaped, and knows from experience that you can't assume all owners are created equal.
She learnt this the hard way through operating Showpo and its predecessors Fat Boy Group and Showpony under different ownership structures, until claiming independence on January 3, 2012 - 'a day I will never forget for all the excitement and fear that came over me'.