On April 26, 2023, Worth's annual Women & Worth Summit hosted a panel discussion on The Business of Menopause, featuring Michelle Jacobs, Komel Caruso, Alisa Volkman, moderated by Rachel Braun Scherl, co-founder of SPARK Solutions for Growth.
Jacobs is the co-founder and Chief Operations Officer of Womaness, an assortment of menopause products made for women going through menopause by women experiencing the same. She is an expert in brand building and licensing, for both newer brands and established ones.
Caruso, co-founder and chief growth officer of HerMD, is steering the future of women’s healthcare with a focus on often-neglected areas like menopause and sexual health. HerMD centers provide a safe space for patients, employing a variety of healthcare professionals.
Volkman, CEO of The Swell, offers a platform to guide individuals through life's latter stages, promoting longevity and well-being. Having built and sold digital companies like Babble and Nerve, Volkman brings her entrepreneurial spirit to the conversation.
The panelists explored the current challenges and untapped opportunities in the market for menopause products. They delved into the overlooked effects of menopause on mental and physical health and the market gaps for potential new businesses.
One highlight was Volkman's description of her shift from parenting, as a business theme, to focusing on life’s next stage. Unlike others solving problems they haven’t experienced, Volkman emphasizes that her unique edge comes from personally experiencing the challenges her businesses address: “I wasn’t guessing what was missing in the marketplace, I was experiencing what was missing.”
Caruso shared her motivation for founding HerMD, centered on the lack of education in menopause and sexual healthcare. Along with her sister, Dr. Somi Javaid, she saw a gap in care. Women's concerns were often dismissed due to insufficient professional knowledge. Caruso stressed the startling fact that “only 20% of OBGYNs are trained in menopause and sexual health care.”
This engaging discussion sheds light on a vital aspect of women's health often brushed aside. By bringing together key figures at the forefront of menopause-related businesses, the conversation illuminates the urgency for innovation, empathy, and education in this significant market. The insights and personal narratives shared by the panelists offer a valuable roadmap for those aiming to make a difference in women's healthcare.