Even the busiest, most high-profile people can make time for others. Here, the Goop CEO talks about the power of mentoring—and is joined by the cofounder of Maisonette, whom she’s supported for years.
Gwyneth Paltrow has played many public roles—most notably, of course, first as an actress and now as the creator of Goop. Her lifestyle business and content platform launched in 2008 and has grown to a $250 million company by selling Paltrow-endorsed health-and-wellness products that shoppers swear by (even when the medical community cries foul). But here’s a role she’s less well-known for: Behind the scenes, she mentors female entrepreneurs. Sylvana Ward Durrett is one of them. She’s a former Vogue staffer who for years produced the annual Costume Institute benefit at the Metropolitan Museum of Art and then went on to cofound the children’s e-commerce site Maisonette in 2017. Today, Maisonette is a fast-growing business with more than $18 million in funding, and Ward Durrett often leans on Paltrow for advice. Here, the women chat about the value of mentorship, what it’s like to be a woman running an early-stage startup, and texting during board meetings.
How did you two first meet?
Sylvana Ward Durrett: We were introduced through Anna [Wintour, Vogue’s editor in chief] two years ago. I had launched Maisonette that spring, and as a young—well, not young, but new—entrepreneur, Goop and Gwyneth had kind of been like the North Star. In your first couple of months in business, you don’t ever know if what you’re doing is right. So to have a conversation with Gwyneth about those early stages and to hear her say, “You’re doing everything right”? It was incredibly soothing.
Gwyneth Paltrow: I’ve really learned on the job and made so many mistakes. I welcome the opportunity to share those mistakes so that nobody has to experience the same pitfalls I did.
After that initial meeting, how did the relationship progress?
This story is from the July - August 2019 edition of Entrepreneur.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July - August 2019 edition of Entrepreneur.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Why Small Businesses Can't Afford to Grow
Big companies take a long time to pay their suppliers. Sometimes, so long that the supplier goes out of business. Two entrepreneurs wanted to find out why this system is so broken-and wound up creating a solution.
MY FAVORITE CUSTOMER
For small, independent businesses, loyal patrons are benefactors, protectors, muses, and mascots. They make sure the show goes on. Here, three business owners celebrate an irreplaceable member of their community.
Do You Say 'Yes' Enough?
We don't give ourselves enough credit for trying. So let's start doing it right now.
He Does $10 Million-Plus in Sales
When Jeffrey Bell gave up horse training to buy a Floor Coverings International franchise, he wanted to get out ahead of his new pack. To do that, he had to learn to delegate.
How This Business Rookie Became a Top Seller
After competing in two Olympics, Cammile Adams dove headfirst into her second career - and became SafeSplash Swim School's #1 franchisee. Here's how.
How to Pick the Perfect Franchise For You
There are a lot of great brands out there. But that doesn't mean they're all a great fit.
Serving the Underserved
When Dennis Johnson opened a Pizza Ranch in Minnesota, he hoped to serve the nearby Native American communities in more ways than one.
When Life Is Preparation
Vanesa Ellis was no expert on mosquitoes or lawn care. But as it turns out, something else made her the perfect fit for two home-care franchise brands.
Changing Careers? Consider Franchising.
Here are five reasons why franchise ownership could be the right fit for you.
WRANGLING THE MANY-HEADED MONSTER
For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts say, is to stay flexible.