BASED IN: MINNEAPOLIS
The Coven is a community and workspace for women and non-binary people. A place for personal and professional transformation located in the Twin Cities, we provide access to capital and opportunities to connect so women can step into their economic power. At the core of our business is a social enterprise. We offer a 5-for-1 community funded membership. For every 5 members, we gift 1 to a woman from a traditionally marginalized background.
How did you come up with your business idea? What inspired you?
The four of us came from advertising, an industry that was not built for or by women and non-binary people. Constantly pushed to the margins without a voice or a seat at the table, we saw this happening in other industries to women at every level of their career. We wanted to build a space that could be a container for the magic and energy powerful women make when they're in a room together. A space where women could be any version of themselves on any day and come together in community to learn, work, and play.
How do you generate new ideas to stay relevant on the market? Is it important to innovate in your space?
We have to listen and evolve constantly. It's in our mission to do the most good for our members and the community we serve. We're constantly looking for feedback, and we're open to the idea that our business may look different 5 years from now!
What are your short/long term goals?
Our long term goals are to be in cities that need a Coven. We want to build spaces with communities that provide more access and opportunities to an intersectional group of women and non-binary people.
What sacrifices have you had to make to be a successful entrepreneur?
We've quit jobs, moved houses, and spent late nights away from our families. There's not a lot of glamour being an entrepreneur, but when you're doing it with incredible people who lift each other up, it can make the tough days worth it.
What is one thing you find to be true that most people would disagree with?
We choose to believe that business can be both for profit and for good. Many people ask us if we're a non-profit because we're women and we have a social mission. The truth is, we'll never find economic power and equity for all women until we normalize the act of wealth building in every community.