Secrets of a 21-year-old CEO
Thursday, October 14th, 2010 6:08 pm
When Stephanie Kaplan was a college senior, she didn’t have much time to savor those last months before hitting the work world; she was already in it. Stephanie and two fellow Harvard students, Windsor Hanger and Annie Wang, had founded hercampus.com and were negotiating media partnerships and meeting with their lawyer in between going to classes and sorority meetings.
The trio became friends while working on a campus fashion magazine, and thought that creating a similar publication online could meet an unmet need for publishing-savvy college gals nationwide. They entered their proposal for Her Campus in a Harvard business plan competition, and won. As a prize, they took the free office space in Cambridge, but not the funding, so they could retain as much control of the company as possible. “For now, we are holding off on raising money,” says Stephanie. “We are definitely bootstrapping, but our revenues should be able to cover our expenses. We’re excited to pay ourselves salaries for the first time after all the work we have put in!” Currently, Her Campus gets more than 600,000 hits per month and has more than 500 contributing writers at 65 colleges around the country. What’s life like for this 21-year-old CEO?
Tips for living well on a young entrepreneur’s salary: “Kill two birds with one stone by attending networking events that offer free food! And I love coupons. I sign up for email lists of all the restaurants I go to, all the stores I shop at, and Groupon, BuyWithMe, LivingSocial, Tippr, etc.”
Social media addiction: “Cotweet.com! It makes tweeting SO much easier.”
Secret to running a business with your friends: “We became close friends through working together, not the other way around, which I think makes a big difference. We make sure keep communication between us completely open at all times and to be frank with one another about how we are feeling, so that interpersonal issues don’t escalate and can be resolved right away.”
Anti-procrastination strategy: “Make yourself so busy that there is just literally no time to procrastinate.”
Workout routine: “Last spring I trained for and ran a half-marathon, which was a really satisfying goal to work towards. Recently I’ve just been hitting the elliptical machine and weights at the gym for a half hour to an hour a few times a week. I keep five and 10 lb. hand weights at home so I can do my arm exercises even if I don’t make it to the gym.”
Power snack: “Orville Redenbacher’s 100-calorie microwave popcorn bag. I keep these at the office.”
Lesson learned from a favorite mentor: “Cathy Cranston (Executive VP at Mansueto Ventures, which owns Fast Company and Inc. magazines) taught me to believe in my ideas and not be afraid to shake things up and go against the flow. She always stresses that the media industry is screaming for innovation and change and that young people have ideas worth sharing.”
To learn more about Stephanie, visit www.hercampus.com.

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