Remi Founder Freck Beauty interview

We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their stories in our new series, From Scratch. But this isn’t your typical day in the life profile. We’re getting into the nitty-gritty details—from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves—we’re not holding back.

Photo: Courtesy of Freck Beauty

About Remi, Founder + CEO of Freck Beauty

Remi is a design-loving, music-obsessed business owner and cat mom to Enzo in Echo Park, Los Angeles. Having grown up in cold and rainy Seattle, Remi was always obsessed with freckles, at a time when it seemed like everyone was trying to get rid of theirs. She started her career as an interior designer, but the idea of a freckle cosmetic was always lingering in the back of her mind. After attending college for branding and marketing, the idea for Freck Beauty’s rule-breaking brand voice and design-forward packaging began to take shape.

She later moved to LA, and after a couple of career changes and attempts at starting her own business, Remi launched Freck Beauty in 2017 with a hero product, FRECK OG – the world’s first freckle cosmetic. Since then, alongside her business partner and COO Des Wilson, Remi has expanded the brand into both skincare and color cosmetics, creating bold, clean beauty products for anyone who cares about ingredients, respects the process, and doesn't care about the rules.

Take us back to the beginning—what was the lightbulb moment for your business?

My background is interior design, and I never thought I would be in beauty. The path to launching Freck Beauty was really formed from a lifelong obsession with freckles. I’ve always wanted to be able to put on freckles since I don’t have any of my own (even though everyone thought I was crazy since this was a time where people wanted to cover and hide their freckles!). 

If ever there was a lightbulb moment, it was when I met my first mentor who had decades of experience in cosmetic manufacturing. She was the first person to say “this is actually a really interesting idea,” and her support gave me the confidence to start trying to put the puzzle pieces together on how I would actually formulate a cosmetic.

Did you write a business plan? If yes, was it helpful? If no, what did you use instead? Why did you take that approach?

Hell no. I mean, I definitely tried because everyone told me to, but it was so daunting that I found myself just doing the steps before writing them down. Sometimes it’s best to just dive in. Even now with my business partner, Des, we prefer to organize with bullet points, cocktail napkins, voice memos, Google sheets, pretty much anything informal. We tend to spend our time executing rather than organizing; not ideal, but that shit’s real. 

How did you come up with the name Freck Beauty, and what are some of the things you considered during that process? What advice can you share?

All of our products have cheeky names, but Freck Beauty is obviously derived from “freckles.” Most people don’t know this, but I had a ton of name revisions from the Kickstarter days to now: Go Freck Yourself (yikes, so agro); Freck Yourself (still agro); Get Frecked (too confusing to brand); Freck (confusion around our hero product name); and, finally, Freck Beauty. Whenever friends or colleagues are running names by me I always ask, “Can you visualize it on a billboard?” I knew Freck Beauty was the right and final name when I thought about it on a billboard over Sunset Boulevard in Echo Park where I live. Simplicity is key, I think.

What were the immediate things you had to take care of to set up the business, and what would you recommend to new founders reading this?

I think it’s really easy to get wrapped up in the housekeeping of a business early on. While that’s important, it’s not the point, and anyone can set up the housekeeping. Really invest the time figuring out your WHY because it's nearly impossible to stay focused, unique, and positioned without it.

What research did you do for the brand beforehand, and can you explain how you found and compiled that research?

I wanted to manufacture a perfect freckle cosmetic for myself and my friends, but before I dove into Kickstarter, I decided to run a Google Survey. It was a minuscule sample size, but I was able to ask 500 beauty-loving strangers a couple of key yes-or-no questions in 2015 like, “Do you think freckles are desirable?” and, “Would you apply freckles if you could?” This really shaped the way I approached the brand, knowing that I wasn’t alone in wanting freckles. 

How did you find the manufacturer or production facility you use, and what advice do you have for other founders looking for a trustworthy manufacturer?

In the case of cosmetic manufacturing, date your labs. Super time consuming, but I would recommend meeting with all the small-run vendors you find from referrals (or Google if you don’t have referrals). Small production runs are barely profitable for labs, so you almost need to sell them on yourself and your concept, because they’re taking on a risk, too—hoping that doing small runs for you will lead to bigger runs. Go into your meetings as your best self, excited about your project, and talk to the lab like they are a potential investor.

How have you funded your business? What advice would you give to aspiring entrepreneurs reading this?

The short story is that I raised a TINY round, bought back those investors after nine months, and didn’t take money again until a pre-seed round in 2019. It was a horrible initial experience. If you’re going to raise money, just make sure that you know and trust your early investors. After that, Des and I basically grew the business by using small private loans. It was ridiculously expensive, but it allowed us to retain equity as long as possible until we were really ready to fundraise.

Do you pay yourself, and if so, how did you know what to pay yourself?

Nada. Des and I both had multiple full-time jobs to pay ourselves (and any hiccups Freck faced) until about two years in. Not only was it not an option to pay ourselves, but we wanted to reinvest into the company by hiring the initial team and expanding our product line. Beyond the money though, I think it’s really important to keep a day job in the early days so you’re not putting too much pressure on the concept or yourself. Starting a business is hard AF without the added stress of having to also make rent every month. Plus, if you find the time to keep motivated after your day job, you know you’re really invested in your idea.

How big is your team now, and what has the hiring process been like? 

We have eight employees now and had just one 18 months ago, which has been a huge learning curve. I didn’t have hiring experience, but I did get to talk with interior designer Amber Lewis at Create & Cultivate Los Angeles and she gave some advice that I’ve never forgotten. I asked her, “When did you know you were ready to hire?” She said, “You just know, but when you’re there, put everything into training them. You’ll be working three times as hard, but you can’t expect someone to think like you if you don’t spend the time.” That’s the real truth.

What has been the biggest learning curve during the process of establishing a business? What mistakes have you made?

Without a doubt, the hardest part has been hiring, letting go, and trusting. In the past, we’ve hired people because we’ve been so overwhelmed and just needed someone. No matter how overwhelmed you are, it takes more time to train a position multiple times. Hold out for the right candidate who you fully believe in, who you’re excited to talk shop with, and who can teach YOU about their specialty. That’s where the most innovative ideas come from.

How did you promote your company? How did you get people to know who you are and create buzz? What challenges have you faced?

I almost completely gave up on Freck OG a year after launch because I couldn’t figure out how to get the product in front of people I knew would love it. I didn’t have the confidence to reach out to influencers and beauty bloggers at the time, and when I finally just bit the bullet everyone I spoke to was really curious about the product and open to receiving samples. I think just throw spaghetti until something sticks! And don’t be scared to try different marketing avenues until you find something that works for your brand. That being said, if you can find a CMO to be your business partner or co-founder early on, that’s a killer move that will only speed up your growth. 

For those who haven’t started a business (or are about to), what advice do you have? 

I love this question. I have a good friend who told me (after the Kickstarter failed and I was trying to figure out a way to market with my embarrassed tail between my legs) that I have “stick-to-itiveness.” That’s always stayed with me. Know that there are going to be so many ups and downs. Take it all in and feel it all. Looking back those are my favorite memories, and I’m so glad I and the team were able to overcome all the obstacles that we learned so much from.

What is your number one piece of financial advice for any new business owner and why?

It’s all about leverage. Keep as much equity as possible, for as long as you can.

If you could go back to the beginning with the knowledge you have now, what advice would you give yourself and why?

If I could go back, I’d ask myself to listen to and trust my voice and point of view more. Don’t worry about following what other people are doing in your industry. The best concepts are ones that no one has come up with yet. Secondly, you can’t do everything yourself. Find amazing, experienced partners who can fill your weaknesses and are ready to sweat it out with you. Des essentially took a percentage of nothing with the vision that we could grow Freck together.

As a co-founder, how have you developed a good working relationship with your business partner? What tips can you share?

Des and I have a really unique partnership in that we have basically no boundaries. We’re best friends, business partners, co-managers. I’m her son’s godmother, and she’s the first person I call to bitch about my ex or neighbors with. We have literally no secrets. Once I helped her get her Diva Cup out. Idk, it just works for us. But doing some serious soul searching before you decide on a partner is key. If you know you need separation from work and boundaries, do you.

Anything else you’d like to add?

In the early days, I thought it would be out of this world insane if Freck Beauty ever made it to Sephora as the world’s first freckle cosmetic. It’s been my absolute dream since day one. We’re launching online on March 2nd and in stores on April 9th, and it’s a pipe dream come true! It’s been a wild and wonderful ride of so much growth and development. If you can see it on a billboard (or on a Sephora shelf) keep it up, you’re onto something big.

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From Scratch: Carolina Kleinman, Founder & Creative Director of Carolina K

We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their stories in our series, From Scratch. But this isn’t your typical day in the life profile. We’re getting into the nitty-gritty details—from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves—we’re not holding back.

Photo: Courtesy of Carolina Kleinman

Name: Carolina Kleinman

Job Title: Founder & Creative Director

Business Name: Carolina K

Did you write a business plan? If so, was it helpful? If not, what did you use to guide your business instead? Why did you take that approach?

Despite growing up in fashion and having a foundation and understanding of what it meant to have a fashion business, I chose to do things my way by guiding myself with what felt right and using my intuition. I learned how to run a business the hard way without specific guidance but my own, without investment partners nor a business plan. Thinking about it now, I would say it is good advice to have a business plan but be prepared to have to pivot unexpectedly. As John Lennon’s “Beautiful Boy” song wisely states, “Life is what happens to us while we are making other plans.” My approach has always been to be open, prepared, and aware of what reality may bring because it can disrupt the most detailed and thought-out plans, in business and life.

How did you come up with the name Carolina K? What was the process like, how did you know it was the right name, and what are some of the things you considered during that process?

Because my brand is such a personal reflection of who I am as a person—the way that I live my life, and my beliefs—I spent a lot of time trying to think of names that would represent just that. A meaningful word that would take this “project,” that was so close to my heart, to another level of growth and development. I went back and forth with a variety of different names but nothing was resonating. I then opted to use my namesake to just include my first name and the first letter of my last. 

What were the immediate things you had to take care of to set up the business? (Website domain/setup, trademark, business name listing social channels, etc.)

I founded my brand 15 years ago and the most immediate action item for me was the initial filing to make Carolina K an official business and company. Then, setting everything else up that came along with that. I am so fortunate that my brother Pablo was able to help me with this process because I had no idea where to even begin. He was able to set up the paperwork and guide me through legalities.

What research did you do for the brand beforehand? Why would you recommend it?

Luckily, I’ve always been immersed in fashion and grew up playing around with rolls of fabric at my mom's clothing store in Argentina so everything came very naturally to me. Early on I had a very clear understanding that if I ever started my own label it would have to be done in an ethical and meaningful manner. This resulted in the research taking place as the development of collections happened. I traveled the world looking for artisans and factories, meeting and working with those along the way. Most, if not all, of whom I still work with today after 15 years. As I learned more about them I created a connection, and I knew I wanted to preserve the artisanal crafts, ancient techniques, and details of their culture. 

I highly recommend seeking to establish a true partnership, meet who you work with in person, get to know your suppliers, test each of them out with small projects so that you can scale accordingly and grow together. Growth is great, but it’s beautiful when you can do it together.

How did you find and identify the manufacturers that you work with? What makes a successful partnership and what advice can you share for fellow business owners on finding the right partners?

I found many of my suppliers, manufacturers, and artisans throughout my travels prior to starting my company and throughout its growth. Still to this day when I travel, I often visit markets or attend festivals and celebrations in small towns or cities. At both places, I often run into a variety of artisans that sell items I end up falling in love with. I then strike up a conversation which usually leads me to placing a small order. This allows me to ensure their responsiveness and reliability. If things go well, I take them under my wing and continue to work with them long-term. To this day, we employ around 300 artisans worldwide that I’ve met and maintained relationships with for the last 15 years. I cannot express how important it is to really know who you are working with and cultivate those relationships to assure that the best materials are being sourced and used. Especially, in my case where we make sure to use eco-friendly materials that do not harm the environment.

Did you self-fund the company? If so, how did you bootstrap it? Did you do a friends-and-family round? Or did you raise seed money or initial investment money? If so, how much, and what was that process like for you? What path would you recommend?

Carolina K is a fully self-funded brand. In my early twenties, I was living in Los Angeles working towards being a musician and I would take small jobs here and there in styling or other projects in fashion. I later went back to Argentina where a woman that I knew offered me a 90-day term on fabric, leading me to design my first collection under the Carolina K brand. All I could afford was a one-way ticket to New York City. I took a leap of faith and flew there with the intention of selling it. The full collection sold out in just one weekend! 

I paid off what I owed for the fabric and put the rest of the money back into the business. I repeated this cycle over and over; money always went back into the business. I must say, the journey has been hard. I didn’t study business, and it took me a long time to learn the business portion. Plenty of trial and error, especially when I was living outside of Tepoztlán, Mexico, and did not have internet access at home. Based on my struggles of scaling the business, I think I would advise others to connect and work with people that you trust and that are knowledgeable in areas that you may not be. For me, it would have been someone more understanding of the business side of things early on.

How much did you decide to pay yourself? How did you determine what to pay yourself? 

To be fully transparent, I only had one employee for the first nine years. As a result, I didn’t see the need to pay myself a fixed salary up until the point my company really started to scale. All of the hats I wear as an entrepreneur and a creative is a lot of work, but I love every minute of it, and I know we will continue to grow and meet our financial goals.

How big is your team now, and what has the hiring process been like? Did you have any hiring experience? If not, how did you learn and what have you learned about it along the way?

At the moment, my team consists of seven employees and myself. Many of them came into my life at the right moment and time, hired on organically as well as the traditional hiring path of creating a listing on LinkedIn and interviewing. The organic path is always the best and most interesting; we either were introduced to each other by mutual friends or timing just led us to meet. The traditional path is always fun, as we meet a variety of new characters and hire based on who is the most fitting of the position and company culture.

Did you hire an accountant? Who helped you with the financial decisions and setup? Are there any programs you recommend for bookkeeping?

Yes, as we started to scale and needed more assistance in finances we hired an accountant. I do feel that having a great accountant in-house is key. Having a strong person dedicated to finance is something that makes the growth of the brand much smoother. I found that Quickbooks is great if the brand is based in the United States. Two other programs that I advise for clothing brands are AIMS 360, a production management and processing software, and Joor, a platform used to connect with buyers for wholesale. These have been great in assisting my team with production and sales, automating the process, and leaving less room for human error.  

What has been the biggest learning curve during the process of establishing your business?

The biggest learning curve and challenge for me was learning how to seamlessly work with those outside of my brand while still maintaining important values such as caring and paying attention to customer needs while maintaining an eco-friendly brand. In our early years, I had to learn to block out the noise of buyers that would put us down or showrooms that wanted to mold our brand into something that it wasn’t. I realized that I had to trust myself, my good intentions, and work hard despite the external obstacles. 

What is the most rewarding part of running Carolina K?

My favorite part of my brand is working with artisans. This means there is no fabric waste nor is there any contamination, and together we are working to maintain their ancient craftsmanship techniques. I quickly learned that even all of the positives can bring challenges. In the first eight years, every piece by Carolina K was made entirely by hand, but it got to the point where the artisans were unable to manage our growing purchasing demand. As a result, they sometimes were late to delivery deadlines that had to be met as they were dependent on sales. Trying to scale growth for the brand became challenging at that point. I then decided to develop prints that would complement and resonate with the hand-made pieces to assist in speeding up production. I traveled to India and partnered with very small print factories and later discovered skilled male embroiderers. We still work with both to this day and they too work with love and passion.

How did you promote your company? How did you get people to know who you are and create buzz?

The buzz happened organically. I started participating in trade shows in New York and in Paris and met other designers and buyers. As more purchases happened, I began expanding my reach at multi-brand stores and became more well known and established.

In 2014, I opened my first store in Williamsburg, New York while I was still living in Tepoztlán, Mexico. In 2015, an opportunity presented itself to move to Miami and we moved forward in doing so along with closing our Williamsburg store and opening a store at the Faena Hotel in Miami Beach. That allowed for more visibility because of the hotel location. We began hosting branded events and fashion shows that attracted and led me to meet and dress interesting and like-minded people, resulting in more recognition and brand awareness on a global level. 

Years of growth also led to the understanding that working with a good PR company can be beneficial if you’re able to align on goals and beliefs. Our journey has been a slow but organic and meaningful one.

Do you have a business coach or mentor? If so, how has this person helped, and would you recommend one to other founders? How do you get one?

I do not have a business coach at the moment, but I did in 2019. I met this coach through mutual friends and having a coach really helped me establish important skills like how to manage my team better and how to set and achieve milestone goals for the business. The most important lesson that I attained from having a business coach was learning that I must build my brand around my lifestyle so it serves me, my personal beliefs, and my necessities. I did not want to be in a position where working consumed all of me. I found it very helpful to work with someone on strategy and learn more about the areas that you are unsure of so that you can learn to master them. I completely recommend looking into business coaching when it is financially feasible. 

How has COVID-19 impacted your business operations and financials? What tactics and strategies have you put in place to pivot and ensure your business is successful through this period?

COVID-19 was a very challenging time for my brand as well as almost every other fashion brand. We saw orders being canceled or delayed frequently at the start of the pandemic and we had no idea what to expect or what was to come. Due to the national shortage of masks, we began to work with our artisans to design and donate them to organizations that would get them into the hands of those in need. As things began to calm down and stores began to open again, we started to see retailers requesting their original orders, and we realized how lucky we were to have that support.

COVID-19 put many things into perspective—one being the need to pivot and put more backing into the direct-to-consumer model for our brand. We took this opportunity to strategically develop a more curated approach to our wholesale and work towards the positives this brought for the development of direct-to-consumer. It is important to take challenging times and try to find the positives in order to accomplish growth.

What short-term changes will be crucial to your business strategy long-term post-COVID-19 and what plans are you making for when we get back to “normal?” 

One short-term change due to COVID-19 that will be crucial to our business strategy, is the number of collections that we drop moving forward. In 2019, I was growing tired of doing so many collections; it didn’t feel authentic to my brand but rather robotic and stressful. Post COVID-19 we have opted to make collections less frequently and focus on making them better, more meaningful, and mindful. A great example is that this year we are skipping Fall/Winter ’21 and, instead, replacing it with a Zero Waste collection. This collection is designed with only repurposed fabrics from past collections and many are one-of-a-kind styles. We have also focused on our home collection expansion. It has been around since 2014, but this year brought the opportunity to focus on its growth. I’m excited to share that we are currently working on our five-year strategy, and there are plenty of great things ahead for the brand.

What advice can you share for small business owners, founders, and entrepreneurs who are also reeling in response to COVID-19?

I would give small business owners, founders, and entrepreneurs the same advice I keep telling myself. Stay positive, keep moving forward, take time to do a bit less so that you are able to make decisions with a clear mind and a clear vision. Make sure that what you do and decide has your heart in it. It took me 15 years to build this brand; I won’t let it fall apart in one to two years of crisis. 

Photo: Courtesy of Carolina Kleinman

What is one thing you didn’t do during the setup process that ended up being crucial to the business and would advise others to do asap?

The one thing that I didn’t do during the setup of my company was take the time to dive deep into understanding the business side of my brand and the fashion industry as a whole. It is very crucial to understand or have the correct people around you to advise. If you are a creative person like me, having someone managing the business side allows you to dream big while they point you in the right direction to set up structure, goals, and strategies to help you achieve your big dream.

For those who haven’t started a business (or are about to), what advice do you have?

If you are creating something from the bottom of your heart that is authentic to you, you will be just fine. Be sure to always find your own voice, be ethical and conscious of the planet, don’t look to what others are doing unless there is something you can learn from them, and be consistent. There is so much going on in the world but remember that each of us is unique and has our own point of view and each and everyone one of us should find that value in ourselves, always.

What is your number one piece of financial advice for any new business owner and why?

Always stay within your budget, make sure to calculate numbers beforehand, and do not overspend. There is plenty of time to grow organically and enjoy the fruits of your labor. You cannot expect results overnight. I read an interview with Patti Smith where she mentions a quote by William Burroughs that I always go back to when tough decisions come up or when my patience runs out: “Build a good name. Keep your name clean. Don’t make compromises. Don’t worry about making a bunch of money or being successful. Be concerned with doing good work. And make the right choices and protect your work. And if you can build a good name, eventually that name will be its own currency.” -William Burroughs

If you could go back to the beginning with the knowledge you have now, what advice would you give yourself and why?

I would tell myself to take some business classes and make the time to really understand. Remember to maintain consistency as that is the key to success. Lastly, continue to trust my intuition and always listen to my inner voice. She will never lead me astray. 

Anything else to add?

Stay passionate and remember to always have fun, as it is the journey that matters and not the destination.

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Running a Seven Figure Business While Pregnant

For the last 10 years of my career, I worked in corporate America, specifically within the entertainment industry, focused on integrated marketing for consumer brands and media entities. I started straight out of college as a marketing coordinator, and within five years, I’d been promoted to a director-level position. It was a very fun and fast-paced career that had me on a plane every 3-4 days for brand campaigns at big events like Fashion Week, The Grammys, Coachella, SuperBowl, essentially every tentpole entertainment event. 

However, while successful on paper, I wasn’t very passionate about my work and I felt this inner pull telling me that this is not what I’m meant to do forever. The problem was, I had no clue what I wanted to do. The only thing I was sure of was that I wanted to do more meaningful work, so I started to go on my own personal journey of exploring what I want the rest of my life to look like. That ultimately led me to my own “Eat, Pray, Love” journey around Europe, investing in a life coach, and reigniting a dream I’d written in my journal while in high school to create a platform that empowers others to realize and actualize their full potential. I, of course, didn’t know that it would take the form it has today, but I knew that I would hate to wonder “what if” ten years from now if I didn’t at least give myself permission to explore what it could be.

Within this long journey from where I was to where I am, I've learned so many wonderful things that can help anyone who is stuck in a rut looking to live their dream life or a spark that they are so desperately missing. These are a few tips and tricks I learned along the way.

Set Boundaries

This is no easy task and is something that takes time to learn. First, start with clearly defining what your boundaries are with work, friends, family, and your partner. When you are clear on your boundaries with others it helps you to realize when someone is overstepping, or when you might feel uncomfortable. Put together a plan of action on how you will handle the situation so you're more prepared for when it happens.

Ask for Help

As an entrepreneur, I know firsthand how ambitious, independent, and optimistic we are. However, when situations arise where we need to ask for help, we seem to struggle. There are far more benefits when asking for help versus not asking for help. Knowing that someone else would take the time to help you out is a great feeling. In a way, it helps rejuvenate us. Asking for help also allows us to potentially grow our network and gain new perspectives, which could even lead to new opportunities! 

The same rules apply to your personal and love life. As entrepreneurs, we are often wearing many hats in our businesses. We are marketing, HR, admin, support, etc. It can be exhausting, and you may be doing an awesome job in your business, but your household duties may have suffered the consequences. It’s okay to hire help. It’s also okay to lean on friends and family for support. They know you best and can give you sound advice or a pick me up when you need it. 

Enjoy the Little Moments

If you told me five years ago that I would be living in Paris, married, with a baby on the way I would’ve laughed! What really helps me put things in perspective is remembering how much the life I’m living now felt so out of reach years ago. 

Instead of worrying about the future, I look around me and soak in everything I’ve accomplished and how far I’ve come in my journey. Enjoy moments during pregnancy with your spouse. Enjoy the moments getting ready for your little one. Don’t forget to give yourself grace, you’re raising a human!

Position Your Business to Scale

Running a seven-figure business while pregnant is A LOT. Make sure your product suite is built to scale around your lifestyle. The luxury of being a business owner is the ability to change up the structure. Thankfully for me, I’m in a place in my business where I can hire help. Having people on my team who are passionate, knowledgeable, and help bring new ideas to the table is so important. You can’t grow a business with longevity without help!

Get Organized

I can’t stress enough how important being organized is. It doesn’t only help with staying on top of tasks, but also helps ease anxiety and make me feel more confident in my plans for the day, week, and month. Having a to-do list is old-fashioned but there’s nothing better than being able to mark a task complete or being able to scratch it off your list. Being able to map out my day and visually see the tasks that need to get done really helps me put everything in perspective. It helps me understand if my timelines are realistic or not. Maybe I need to extend one project, or maybe I can shorten the timeline for another.

If this past year has taught us all anything, it’s that we can’t always perfectly plan for what’s ahead. What works year one of your business, may not work at all year two. You also might be working in a different time zone or in a different environment than you're used to. Adaptation is the key. At the start of the pandemic, my sales completely tanked and it felt like nothing was working in my business. 

I had two options: go and get a job or get serious about adjusting to circumstances that are out of my control by doing things that are in my control. I revamped my programs, messaging, and adapted my business model to what became the new normal. Doing so took my business from $100K in sales to $1M in sales in less than one year. I’ve seen my clients scale their businesses, and it’s not easy, but it’s definitely possible and it’s definitely worth it. You’ll never know what you can achieve if you don’t try!

About the Author: Natanya Bravo was a powerhouse working for Fortune 500 brands as VP of marketing for 10 years. Flying back and forth from NYC to LA, while leading a large team. This was everything Natanya worked so hard for! But, for some reason, Natanya felt unfulfilled. One night out at dinner her friend asked her, “What’s something you always wanted to do but was too afraid to say out loud?” and Natanya answered, “Move to Paris”. She came up with excuse after excuse, and then finally moved to Paris alone. Upon arriving, she wrote down her goals and what she wanted to accomplish. She now lives in her dream city, with her fiancé, is currently pregnant, and runs her very own seven-figure business abroad.

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Tania Boler Founder and CEO Elvie Interview

We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their stories in our new series, From Scratch. But this isn’t your typical day in the life profile. We’re getting into the nitty-gritty details—from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves—we’re not holding back.

Photo: Courtesy of Tania Boler

Tania Boler founder and CEO of Elvie

Can you tell us a bit about your background and what you were doing professionally before launching Elvie?

I’ve always been passionate about women’s health, and I studied the topic extensively during my time at Oxford and Stanford University earning a Ph.D. in sexual reproductive health. As a sexual health researcher, I spent most of my early professional life in roles that worked to provide women safe, quality care and access to health education. 

While working for the U.N., I was stationed in Africa and launched the first-ever curriculum on sexual education. During this time, I began to recognize technology’s potential to disrupt the way we think about health—and even quicken the pace at which change can occur. 

Before starting Elvie, I served as the global director of research and innovation at Marie Stopes International where I worked to improve sexual health among developing countries. Working directly with women across the world inspired me to advocate for women while understanding their unique health needs. 

What was your “lightbulb moment” for Elvie? What inspired you to start your business and pursue this path?

Despite having extensive academic and professional experience in women’s health, when I was pregnant, I discovered that there was much I didn’t know about my body. It felt like the changes I was experiencing should have been something I knew would happen. This was particularly true about my pelvic floor health. In my studies, training, or personal life, no one described pelvic floor health’s importance. 

At the time, I was spending lots of time in France with my husband’s family and learned that the women there were much more open to discussing their intimate health. In fact, pelvic floor exercise was part of their usual postnatal routine. After experiencing first-hand how pregnancy impacted this core muscle group, I was stunned that this cultural practice wasn’t more common in other countries. I began to do extensive research to understand better the intimate health challenges women face daily. 

The “lightbulb moment” came from this exploratory phase. As I learned more about how women currently care for their pelvic floors, I began to think about how few products were available to promote women’s intimate health. This is especially true when you think about how many generations of iPhones have been developed in the past ten years. Astonishingly, there have been limited modern innovations to address women’s basic needs in the past few decades! I was determined to do something about this, starting by tackling pelvic floor health’s taboo status while creating a design that made caring for this muscle group easy, efficient, and fun. That’s where Elvie Trainer came in. 

Since launching Elvie in 2013, you’ve raised over $50 million in funding from investors, garnering some of the biggest investments in femtech to date. What advice can you share for entrepreneurs on partnering with the right investors? What do investors need to bring to the table other than just money?

My best advice is to be your best advocate, never wavering from your mission or values. When I first started pitching Elvie Trainer to investors, most of whom were men and didn’t understand the need for the product, I would worry about making them feel uncomfortable when talking about the product’s purpose. After leading many meetings like this, where I put the investors first, I realized that I needed to prioritize Elvie. I didn’t want to work with the investors who just stared at the sample Elvie Trainers I’d leave out on the table, but those who’d immediately pick them up to better understand them. That’s why I’d recommend looking for investors who can not only offer capital but also provide partnership as your company grows. Suppose we at Elvie are going to realize our vision of revolutionizing women’s healthcare. In that case, we need investors who share our mission and values and will be open to putting more than just dollars behind it.  

You’re not only the founder and CEO of a technology company that’s revolutionizing women’s health, but you’re also a mother. How has being a mom changed your priorities and your focus in terms of your career and business? Do you think motherhood has made you a better business person?  

As many women know, being a mom completely changes everything. In the beginning, I struggled with how I would juggle my independent, career-driven life while caring for a baby. But after a while, balance comes—and at some point, you start to realize that hey, it’s okay to drop a few balls now and then. 

Once I started Elvie, I did have the advantage of knowing the unique challenges that moms face. I’d say, get used to multitasking and improving how you prioritize aspects of your life. And definitely, get more efficient with your time! 

Elvie’s mission is built around the need to support women, starting with moms. Unlike many other brands, we’ve created an internal culture that reflects these values. I enjoy being a champion for all the mothers and women who are a part of the team.

Did you write a business plan? If so, was it helpful? If not, what did you use to guide your business instead and why did you take this approach?

Writing a business plan was a crucial step for us to outline the opportunities in the category and ensure we stayed true to our promise to women to deliver the most innovative technology to improve their everyday health as we scaled the business. Once we designed the product and realized how many women we could help by bringing the device to market, we quickly launched it via an e-commerce site. 

How did you come up with the name Elvie? What are some of the things you considered during the naming process?

Our name is the first definition of our brand. The word “Elvie” actually derives from the abbreviation for the levator muscles (“LVs”), the key muscle group on either side of the pelvis. We bandied some names around, but Elvie felt right. It simultaneously evokes strength and unabashed femininity. We also loved the name because it felt familiar yet unique. 

What were the immediate things you had to take care of to set up the business?

My business partner, Alexander Asseily, recommended that the first step was to hire the best designers to bring our vision to life. From there, the business took off. What was once trying to convince naysayers that this tool wasn’t “too niche,” we were suddenly being endorsed by celebrities like Gwyneth Paltrow and even included in the swag bag for nominees at The Academy Awards. 

For us, digital and social are essential channels. Both are a means of getting our brand to a wider audience and as a platform to start conversations around taboo topics and intimate issues. From a strategic standpoint, it was important for us to have a presence that women can connect with online from the word “go.” 

What research did you do for the business beforehand? Why would you recommend it?

While I had a background in women’s health and had worked with women across the globe, I realized how much more I had to learn about women’s health when I became pregnant and experienced changes in my own body. I did extensive research to better understand women’s intimate health, the healthcare industry, and the technology already available to address these needs. To bring something to market that was truly innovative and could change women’s lives, I had to understand their health challenges and the products that failed them. 

Research is a crucial step for any entrepreneur. However, it’s also important to recognize that you won’t have all of the answers you need before starting your business. The hard part is finding the confidence to take the leap and go from the research phase to market. If you feel strongly about your idea, commit yourself to it and sell your passion for it to your team, investors, and consumers. You’ll never know until you try. 

Photo: Courtesy of Tania Boler

How did you find and identify the manufacturers that you work with? What was important to you during this process? Are there any mistakes you made and learned from along the way?

In the initial stages, we didn’t have any experience in manufacturing. Alex, my business partner, had plenty of advice, including adding a few names to the list of recommendations. But essentially, it’s all a case of setting out your manufacturing objectives; how many you need to make, the capabilities required to make it, and understanding your budget to get it done. 

From there, it’s lots of heavy research to create a shortlist of companies you’d like to speak with, making approaches and discussing your goals while gauging if there are synergies between the two companies. It’s important not to underestimate the people side of things—they may be able to demonstrate capabilities, but you need to be sure that you can work together as a team. After all, you’ll be spending a lot of time working together to refine your design and troubleshooting manufacturing challenges. There will always be tough times, so you need to be able to detach from the work and have fun together. 

Do you pay yourself, and if so, how did you know what to pay yourself? 

Like many new entrepreneurs, I accepted that during the early days of Elvie, it wouldn’t be like a normal salary. That said, I recommend being as open and frank as possible with your investors, because it shouldn’t mean that you sacrifice essential things you need to pay for, like child care. It’s all about striking a balance between company needs and making sure you’re able to focus on building the business—not about whether you can pay your own bills! For me, I initially took 40% of my previous salary. 

How big is your team now, and what has the hiring process been like?

Finding the right people to build our brilliant team has been vital to Elvie’s success and crucial from the beginning. This includes everyone from the talented engineers and designers who helped bring our ideas to life or the advisors who navigated the tech sector while Elvie was still a growing startup. Giving women leadership positions and hiring so many talented people with like-minded values has been one of the most rewarding experiences of my career. 

In 2020, we had 114 new starters, which represents a +80.5% growth. When any company is scaling this rapidly, there’s a significant risk of the cultural DNA getting diluted or lost. With COVID and remote working, this is exacerbated even further. So as we (hopefully) emerge from the stresses of the pandemic, our big re-focus will be on people and culture in 2021. As soon as it’s feasible and safe, we’ll be investing in making up for lost time—encouraging quality collaboration between team members and socializing in real life! 

Did you hire an accountant? Who helped you with the financial decisions and setup? Are there any tools or programs you recommend for bookkeeping?

Quite early on, we were set on hiring an accounting firm, specifically one which had a record of working with early-stage companies in London’s tech ecosystem. That being said, we also relied quite heavily on the readily available internal expertise, who helped with financial decision-making on several things, from the selection of banking partners to the management of company share schemes and the like. We also handled the bookkeeping internally and used Xero. It’s really great and user-friendly accounting software that is well-suited for early-stage businesses. It’s simple to set up and even simpler to use, which meant that we could maintain internal control of essential aspects of our day-to-day financial operations instead of outsourcing.

What has been the biggest learning curve during the process of establishing your business?

Elvie was born out of a passion for women’s health, and it was not very cut-and-dry to carve out space in a very male-dominated tech and investor community. It poses unique challenges to female entrepreneurs trying to design with women in mind. And as a non-tech founder, one of my biggest pieces of advice is to surround yourself with people who can capture that passion with innovative products that meet a need. I mean, when I first started, the term “femtech” didn’t even exist—so it was a great leap into the unknown. If you’re looking to launch something new, the startup ecosystem is vibrant and friendly, with plenty of experienced individuals who are willing to offer practical help and support. There are always lots of meet-ups which can help short-cut problems as you go along and learn from others who have done it before. 

For Elvie Pump, our greatest challenge was building the technology that could solve the breastfeeding problems women had been enduring for far too long. We also knew that we would have to convince investors that it was time to create a better solution for women than what’s been available to them so far. We did this by hiring world-class female designers who understood women’s needs and created a beautiful product that then spoke for itself.

How did you promote your company? How did you get people to know who you are and create buzz?

Given the number of taboos surrounding women’s bodies and health, the Elvie team is driven by our overarching mission of changing perceptions while pioneering life-changing health solutions for women. Our work encourages us to engage in these discussions, shift people’s views, and educate both women and men on important—often intimate—topics. We see this as an excellent opportunity to drive real change in the culture at large while addressing the often-ignored needs of 50% of the population. 

With that in mind, we’ve always known we would need to be disruptive to grab women’s attention on a global scale. These moments opened the door to more significant conversations and helped to begin eliminating taboos on the topic.

One of the larger stunts we created was our massive vaginal blimp at the Edinburgh Fringe Festival to raise awareness on pelvic floor weakness and incontinence. Our campaign was actually banned by the local council, which highlighted how taboos around women’s health and anatomy still run deep in our society. But happily, this led to the viral #LetFannyFly movement on social media—and it was empowering to see so many women get on our side and almost become activists for Elvie. 

A few other buzzworthy moments for us included our #FreeTheFeed campaign when we placed five giant inflatable breasts across London’s skyline. We aimed to fight the stigma around breastfeeding and pumping in public. We knew it would raise a few eyebrows – but in so doing, no one could overlook this taboo that’s been used to repress women for so long. 

Our stunt at London Fashion Week was another disruptive event that made headlines. To amplify our Elvie Pump launch in 2018, we partnered with London-based designer Marta Jakubowski to feature a model (and new mother) wearing our breast pump on the catwalk during her show. If it was talked about at all, pumping was considered a grind, an unpleasant necessity, or a punch line. By crashing London Fashion Week, we wanted to prove that women who happen to be mothers are still women: they can still be fashionable, walk the catwalk, lead businesses, run the world… and ultimately, they shouldn’t feel restricted or held back by anything (including pumping!). 

Do you have a business coach or mentor? How has this person helped you, and would you recommend one? What advice can you share on how do you get one?

I’ve been involved in women’s health for my entire career, and along the way, I’ve been introduced to so many individuals who’ve both inspired me and helped me find my way to creating Elvie. 

Carving out space in a male-centric world is never easy, and it can be intimidating to jump into something when you haven’t seen many examples set by other female friends or leaders. However, there is a growing network of extraordinary, like-minded female entrepreneurs out there who are willing to support you and help you to make essential connections. For anyone looking for a mentor, start by evaluating who you admire in your own circle and ask them for advice and guidance. 

For advice and information around startups, “The Lean Startup” and “The Hard Thing About Hard Things” were great resources for me. Phil Knight’s “Shoe Dog” was also incredibly inspiring at the early stages. 

There are a wealth of exciting podcasts out there, some personal favorites of mine include; “The Future of Everything” from the Wall Street Journal, “Masters of Scale,” and the “WIRED UK Podcast” to keep me up to speed on all the latest trends and stories.

I am constantly impressed by people who are challenging the status quo and introducing new ways of doing things. Tortoise is doing this by encouraging readers to consume information more slowly and with more purpose.  

What is one thing you didn’t do during the setup process that ended up being crucial to the business and would advise others to do asap?

I would advise others to never skirt around topics or words that you feel might make potential investors uncomfortable. Take Elvie Trainer as an example. It took me a few fundraising meetings to realize that I needed to be upfront about women's issues and not shy away from words like "vagina" or other intimate topics. But, how can we create and sell in products that make women’s lives easier if we aren’t open and honest? Now, when meeting with prospective investors, I like to see their reaction once I say the "V" word. I call this the "vagina test!” It's a fun and easy way to gauge whether we'll be a good fit for one another. 

What is your number one piece of financial advice for any new business owner, and why?

Beyond attracting investors, our most significant obstacles at the start of our business came with building our technology. For example, designing one solution that could truly solve breastfeeding problems that women have been enduring for far too long! My business partner, Alexander, encouraged hiring top engineers from the word “go.” As you scale, this is extremely important. You need to surround yourself with people who believe in the mission as much as you do and are the best at doing the jobs you need. So, we set out to hire world-class designers who understood women's needs, placed them in the heart of the design process, and created beautiful products that offered women the best solution out there.

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Vanessa Quigley Co-Founder Chatbooks Interview

You asked for more content around business finances, so we’re delivering. Welcome to Money Matters where we give you an inside look at the pocketbooks of CEOs and entrepreneurs. In this series, you’ll learn what successful women in business spend on office spaces and employee salaries, how they knew it was time to hire someone to manage their finances, and their best advice for talking about money.

Photo: Courtney McOmber

Vanessa Quigley co-founder of Chatbooks

In an interview with Forbes, you revealed that an intense episode of mom guilt drove you to start Chatbooks. Can you take us back to that moment? What inspired you to launch your business and pursue this path? 

I have seven children, and for the first seven years of motherhood, I was very good at scrapbooking our family's story. But things changed as more babies came and as digital photography became the norm. Years later, I found my youngest, who was five at the time, in bed bawling his eyes out. He had been looking at a little photo album his preschool teacher made for him and was moved to tears when he told me, "Mama, I never want to grow up!" It was adorable and a gut punch all at the same time. I wanted him to be able to hold onto more of his memories and knew that I needed to create an easier way to do that for us and families everywhere!

You’re a mom of seven and the co-founder of Chatbooks along with your husband. How has being a mother changed your priorities and your focus in terms of your career? Do you think motherhood has made you a better business person? 

My career has actually made me a better mother. I'm happiest when I'm stretching myself, learning, and growing, and I've never felt more stretched before in my life than I have been while building our business. I was a stay-at-home mom for years before becoming an entrepreneur, and motherhood prepared me not only to have my product insight but also taught me the importance of team culture. We refer to our family as "Team Quigley" and I work very hard at helping my children know what it means to be a Quigley and what is expected of them and how important it is that we are all aligned on our goals to work together. And it's the same for our Chatbooks team.

Since launching Chatbooks in 2014, you’ve raised over $20 million in funding from investors. No doubt you’ve learned a lot along the way—What are three crucial elements everyone should include in a pitch deck when raising money and why?

1. How big is this opportunity? How do we know it’s a big opportunity? How can we show that we’re off to a good start capturing that big opportunity? What is our plan to continue and accelerate the momentum we have?

2. Why now? Why is right now the best time to chase this opportunity? Why was five years ago too early? What market change or technological breakthrough makes today the right time?

3. Why you? Why are we going to win versus the next team? What is the founder-market fit story? What secret have we discovered and do we believe in more than anyone else?

What advice can you share for entrepreneurs on partnering with the right investors? What do investors need to bring to the table other than just money?

It is a partnership. At least, that is how we view it. Investors need to bring expertise in some aspect of company building that complements your own team’s current abilities. Also, make sure you are on the same page as far as a timeline. Some investors are in it for the long haul, and some are looking for more of a quick return. Make sure you’re both trying to win the same game before you bring on a new partner. 

Where do you think is the most important area for a business owner to focus their financial energy and why?

It depends on your business, but for us, product and marketing have been the biggest areas of investment. When we raised our Series A it was on the strength of our performance and we just needed more fuel to put on the fire. We had a product that worked, and it was great to be able to get more financing to spend on marketing. Your business is going to grow and you will need money to hire a team to support it and to, most importantly, hire the right people—and that is expensive. 

What was your first big expense as a business owner and how should small business owners prepare for that now?

Our first large expense was on the creation of our viral “Real Mom” video. To make the video we spent more than we ever had on anything. However, we got back the investment in three days. Today, the video has more than 100 million views. 

What are your top three largest expenses every month?

1. Advertising 2. Printing/shipping 3. Personnel costs 

Do you pay yourself, and if so, how did you know what to pay yourself?

In the early days, we did not pay ourselves; it was actually a couple of years of no paychecks. And then we went to the bare minimum, enough to sustain life and pay the bills. As the business has grown and we’ve become more profitable, we have gotten a small raise here and there. The real value now is in our ownership of the company. 

Photo: Courtney McOmber

Would you recommend other small business owners pay themselves? 

If you don’t have to, then no, bootstrap as much as you can. If you can hire and build the business without paying yourself, then don’t pay yourself. The more ownership you can retain the better. For us, we went a couple of years without paying ourselves and by the time we landed on a product that was working, we had to raise money because we had a business team, seven kids, and a mortgage. 

Did you hire an accountant? Who helped you with the financial decisions and setup? Are there any tools or programs you recommend for bookkeeping?

In the beginning, we hired an accountant, and then years later, we got someone in-house at Chatbooks. My husband was an accounting major and has an MBA, so finance stuff was the easy part. Making something people want and figuring out how to sell it is the hard part. Do that and everything else will work out. We recommend starting with Quickbooks and Excel, and then when it gets complicated hire an accountant.

How did you know you were ready to hire and what advice can you share on preparing for this stage of your business? 

We were trying to build software and we didn’t know how to code so we needed help with the front-end and the back-end. Luckily, we found our first backend developer on Craigslist and he was really, really good and he is still with us today. That is why we couldn’t pay ourselves because we had to hire for the skills we lacked. Be honest with yourself about your skillset and the help you are going to need. Consider possibly taking on a partner. We took on a partner who was a tech wizard and that is what we needed more than anything. 

Do you think women should talk about money and business more?

Yes, yes, yes. Women tend to shy away from talking about money. No topic should be off the table. Whenever I interview an entrepreneur on my podcast, “The MomForce Podcast,” I ask them about funding and money matters. I think we should all be more comfortable talking about that.

Do you have a financial mentor, and do you think all business owners need one?

Yes, everyone needs one unless you have a background in that. That could be an adviser, investor, or partner. There are some things that you can do early on in your business that will have real, lasting repercussions. I also suggest hiring a lawyer to help protect your business from the get-go. 

What money mistakes have you made and learned from along the way?

We gave some equity to advisors early on. That, in some cases, was really helpful because we could give equity instead of payment, but we had varied success with that. Some people did a ton to help us and were really engaged with us and some, not so much. If I could do it again I would be more careful choosing advisors and working more closely with them. I wish we had set regular meetings with them and gotten more out of the relationships. 

What is your best piece of financial advice for new entrepreneurs?

Don’t run out of money. No, but seriously, figure out what is most important in growing your business, and don’t get ahead of yourself. We didn’t have a glamorous office space in the beginning, just a corner with a bunch of desks in a shared space. Today, we have a beautiful office with sweeping views of Utah Lake. When you are going to hire, get the best people. The best is not always the most expensive. If you realize it is not a good fit, don’t be afraid to cut them and start again. A lot of mistakes are made in hiring. Don’t be afraid to say this isn’t working and try again. 

Anything else to add?

“The Lean Startup” is the bible. And creating an MVP, a minimally viable product, to test your concept before going all-in is a must. Start small, do a test, see if there is interest. Like doing a pre-sale or Kickstarter, just get really creative to test the concept before you spend. When we started showing Chatbooks to people and they said, “Shut up and take my money!,” we knew we were onto something good and ready to invest.

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Jamila Powell Founder Naturally Drenched Interview

We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their stories in our new series, From Scratch. But this isn’t your typical day in the life profile. We’re getting into the nitty-gritty details—from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves—we’re not holding back.

Photo: Courtesy of Jamila Powell

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Jamila Powell founder of Naturally Drenched

Can you tell us a bit about your background and what you were doing professionally before launching Naturally Drenched?  

I am an attorney for the federal government. I am also an entrepreneur, mother, and the owner of one of the top texture salons in the country, Maggie Rose Salon. So much of the inspiration behind Naturally Drenched came from the day-to-day experiences I had with our trained stylists and customers within Maggie Rose Salon. I was able to see first-hand what our stylists would do for each unique type of hair texture. They would talk about the different needs of each kind of hair they would work with and about products they wished they had more of. This is when I first started to notice a lack of pre-conditioning treatments for textured hair and a lightbulb of inspiration went off. 

What was the “lightbulb moment” for Naturally Drenched? What inspired you to start your business and pursue this path? 

I think I had two major moments that really pushed me towards the path I’m currently on. First, I recognized how stylists at the Maggie Rose Salon were constantly in search of better products to use on natural and textured hair. And second, the COVID-19 implications on my salon really focused my headspace toward product innovation. I love working with hair but since I was no longer able to operate my salon, I turned to e-commerce as an alternative. 

Did you write a business plan? If so, was it helpful, and if not, what did you use to guide your business instead and why did you take that approach? 

While I know this is something I should have done, I didn’t write a business plan. I tend to go with the flow and if an idea sticks with me over time, then I know it’s something I have to pursue. Having a vision is key, but understanding a need to pivot from time to time is also a baseline for business expansion is important as well. 

How did you come up with the name Naturally Drenched? What are some of the things you considered during the naming process? 

It actually only took me a singular day to construct the name for the new brand. I really wanted something that sounded luxe but spoke to hydration. I wanted the name to represent how the product would react to naturally curly-girl hair: covered, dripping, a burst of hydration, environmentally-conscious, etc., and Naturally Drenched seemed to do just that. 

What were the immediate things you had to take care of to set up the business?

Building social channels and securing the domain name came first. When I decided to move forward with the project, I secured the trademark.

What research did you do for the brand beforehand? Why would you recommend it? 

I conducted first-hand primary research by reviewing what worked and what didn’t within my salon. Further, I did secondary research on oversaturated trends in the hair market and what needed further representation and lacked product attention. 

How did you find and identify the manufacturers that you work with? What was important to you during this process and what are some of the mistakes you made and learned from along the way? 

Initially, I found a few manufacturers through Instagram and then used Google to identify if they were a local company or not. I moved forward with contacting three but only heard back from one. It took time for me to understand the established buy chain because I formulated Naturally Drenched independently, without the help of a manufacturer. However, manufacturers ultimately have established relationships with suppliers and I have learned that they build off of where the formulator secured ingredients and go from there. Additionally, I have seen how ordering new items in bulk can lead to backorders. 

Photo: Naturally Drenched

How did you fund your business? What were the challenges and what would you change? Would you recommend that route to other entrepreneurs? 

I am self-funded by choice. I haven’t had a lot of success in partnerships in past ventures, and frankly, I find it easier to carry the weight on my own two shoulders. Personally, I believe if financially possible, funding a project yourself is the best way to launch a startup. Here, individually, you can potentially run out of money, so take into account what it’s going to cost to produce, manufacture, and market the product. If your product is top of the line but has no market share or recognition, it really just doesn’t matter how good it is. 

Do you pay yourself, and if so, how did you know what to pay yourself?

Currently, no, I do not pay myself, and I don’t have plans to do so in the near future. I return all profit from Naturally Drenched right back into the company.

How big is your team now, and what has the hiring process been like? 

I am my team but you can outsource your team. You need to find people you can trust to make a recommendation. My design team and PR team have been great. I have a team member that does my Instagram graphics whom I got from a referral. To be successful while going through the hiring process, focus on recommendations, remain active in listening to podcasts, Zoom calls, and panels, and always vet a potential hire and see the results they’ve been able to produce for other people.

Did you hire an accountant? Who helped you with the financial decisions and setup? 

I do have an accountant and bookkeeper. They don’t help me with financial decisions, as that is typically left to both my boyfriend and my mom. It’s important to have an accountant or bookkeeper because you need to look at your numbers weekly to know if you’re losing or gaining money. In the long run, you are saving yourself time when you have to do taxes. Always know where your money is going. 

What has been the biggest learning curve during the process of establishing your business?

Marketing. Trying to figure out what makes people buy your product is a challenge within itself, and understanding how to move past “surface-level” marketing is an additional challenge.

How did you promote your company? How did you get people to know who you are and create buzz? 

PR of course! We also use the product in the salon and I've reached out to stylists and influencers. In addition, I secured inclusion in a subscription box in Germany. All of these ideas are a good way to get the word out and the product in peoples’ hands.

You’re an entrepreneur and a mom. How has being a mother changed your priorities and your focus in terms of your career? 

Being a mother makes me work harder. You really want to give everything to your child and it just makes me do more. Also, having a daughter helps me put things into perspective because there becomes a point where I say “enough is enough” and I have to step away from my workload and spend quality time with my child.

Do you think motherhood has made you a better business person? 

Absolutely, yes! Motherhood changes your mindset, your patience, your adaptability, creativity, and basically everything else I forgot to mention. 

Do you have a business coach or mentor, and would you recommend one? 

I don’t have a business coach, but I have “business besties” whom I talk to all the time. All of these women are at different points of their entrepreneurship journey! I recommend having people you can talk to openly who can give you insight on places you're trying to go, and how to get there.

What is one thing you didn’t do during the setup process that ended up being crucial to the business and would advise others to do asap? 

Have a strong marketing plan! 

What is your number one piece of financial advice for any new business owner and why? 

Make sure you know what you want to spend and add 10 percent more to that. The worst thing you can do is put all your time and effort into research, formulation, and development, and not have any money to market it.

Photo: Courtesy of Jamila Powell

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3 Trends That Prove Digital is the New Normal–And What it Means For Your Business

The COVID-19 pandemic, as well as recent consumer behavior shifts in e-commerce, have caused long-lasting impacts to the U.S. small business market, prompting businesses to digitize as a means of future-proofing their businesses. 

Having a digitally led approach is critical to equipping small business owners with the tools and solutions they need to survive in an uncertain environment. Many small business owners are ready and willing to take the plunge and do what's needed to digitize their business, yet 64% have said they found it challenging to do so. 

At our recent Money Moves Digital Summit, Ginger Siegel, the North America small business lead at Mastercard, identified three trends that prove that digital is the new normal. ICYMI, we’re sharing them below, along with Siegel’s tips to help reinvigorate your business both on and offline–and more importantly, keep it safe. Read on for her sage advice. 

TREND #1: CONTACTLESS SPENDING

As the realities of COVID-19 hit businesses and individuals alike demanded lower touch options for making and receiving payments.

Although 2020 was already a year we expected to see increases in contactless spending, COVID-19 has accelerated this behavior and made consumer demand shift quicker than anticipated. 46% of global consumers have swapped out their top-of wallet card for a card that provides contactless functionality

With social distancing evolving into a long-term norm, continued reliance on delivery, pick-up, and alternative points of sale will mandate versatile payment methods, making the market primed for tap on phone adoption.74% of consumers said they will continue using contactless post-pandemic

TREND #2: DIGITAL SERVICES

As COVID-19 continues to stress small businesses financially and operationally, small business owners across North America are turning to digital services to improve cash flow and modernize their payments ecosystems.

The majority of small businesses said that speed and security and transparency were their top priorities. This includes changing how their business sends and receives payments and moving clients to more digital methods. This shift to digital services is not only good for business, it increases customer satisfaction as well. In fact, 81% of businesses said when they do move to more digital payments, it does improve the satisfaction level of their customers, proving digital really is the new normal.

TREND #3: CYBERSECURITY PREVENTION

In our new normal, heightened fraud and bad actors in the ecosystem will require small businesses to start paying for far greater attention to cyber security threats than ever before.

Business is uncertain enough—with 80% of small businesses reporting they did not monitor cyber security threats prior to the pandemic, many are incredibly vulnerable to exploitation by bad actors looking to capitalize on the current market chaos.

Small businesses are looking for partners and advisors to help protect them against the unknown in a new world. Partners who step in and predict, educate, and guide small businesses on impending threats will become essential to their survival in the new normal.

To help close the digital divide and prepare for what’s next, Mastercard has introduced its Digital Doors program, which provides small businesses the everyday business management tools and solutions to help small businesses go digital–and keep them safe. Digital Doors offers the resources and support to help small businesses navigate through current challenges and and build for the future–from digital readiness diagnostic tools, educational content, and Mastercard and partner solutions.

Ariana Sokolov co-founder trill project interview

Op-ed Overview

The pandemic has been a lonely time for LGBTQ+ youth for those who do not live in supportive households, making the need for inclusive spaces outside of the home even more important. With the pandemic, connecting with people outside of the home has been particularly difficult and we’re seeing youth turn to safe digital spaces as an alternative. I’m reaching out on behalf of Apple to introduce you to Trill Project, an app created by a talented, up-and-coming teenage developer, Ariana Sokolov. The young, LGBTQ+ ally created the app to ensure her best friend, who came out as bisexual, had a safe space online to express herself. 

After hearing how hard it was for her friend to come out, Sokolov developed Trill – a combination of the words true and real – as an anonymous social network with no usernames (it uses various colors instead!) where everyone can freely and safely express themselves. Created by teenagers passionate about coding, the app provides a supportive community to make new connections and have authentic conversations. 

Timed to April’s Sexual Assault Awareness Month, Ari can draft an op-ed that speaks to:

• How the Trill Project creates a safe space for the LGBTQ+ community and why that is so important for this community specifically during April’s Sexual Assault Awareness Month

• Her allyship to the LGBTQ+ community and inspiration for creating the Trill Project

• How she came to become an advanced coder at such a young age

• How her experience at Apple’s Worldwide Developers Conference and Apple’s Entrepreneur Camp built her coding skills

 photos: https://drive.google.com/drive/folders/1x-SR7fAL5TWniGQ5NXtI_NnMpXAPTEeo

Can you tell us a bit about your background and what you were doing professionally before launching Trill Project?

I started coding when I accidentally walked into a computer science class at a summer camp when I was eight years old. I loved getting to combine my interest in math and design to create something from scratch, and this is what drew me to app development. Growing up, I used the coding resources Apple provides online to teach Swift classes to myself. 

Eventually, I was awarded a student scholarship to the Apple Worldwide Developers Conference (WWDC). And my love for developing apps only grew stronger. Through this, I was able to unlock a community of fellow app developers that loved to create apps that impacted the lives of others. I was privileged to have the support of Apple engineers in labs and attend talks at WWDC that were instrumental in allowing me to become the app developer I am today. 

I launched my business when I was 16 years old. Before that, I founded my own app development company and was working on projects for a variety of clients with my work being recognized by Apple, South by Southwest, and the U.S. Congress. 

What was the “lightbulb moment” for Trill Project? What inspired you to start your business and pursue this path?

After hearing about my friend’s struggle coming out as a bisexual teen, I rallied together my Girls Who Code Club, and we sent out an anonymous survey to LGBTQ+ teens across Tumblr. We asked users, “What would you say if nobody knew you were saying it?” Through grassroots marketing strategies, we received hundreds and then thousands of responses to this survey. Responses trickled in around stories of feeling unheard, isolated, and alone. 

We were stunned to see that many LGBTQ+ teens felt this way, especially in toxic digital spaces, so we decided to address the mental health issues affecting the LGBTQ+ community. After interviewing LGBTQ+ teens in our high school and learning from our friends how difficult their coming out experiences were, these early connections in customer discovery, who believed in my team and me enough to share their stories with us, became our first beta testers. Trill was designed collaboratively with 10,000 beta testers, and our users have trusted us from day one to listen without judgment and build this community for them, with them.

After working on Trill for a bit, we were accepted into Apple Entrepreneurship Camp. Here we were able to get tremendous feedback on the design and structure of our app to make it more meaningful to our users. We also learned how to integrate Machine Learning technology that would direct users to relevant crisis resources. These improvements that we made over the course of the program were very important to improving Trill.

An entrepreneurial career path is so special because it allows you to identify real problems in your life, like my friend’s struggles with her identity, and take action. I didn’t set out to be a founder necessarily, but I did seek out to solve a problem for my friend. And now I’m able to create technology that is used every day by my classmates, the online communities I belong to, and my generation as a whole.

Did you write a business plan? If so, was it helpful, and if not, what did you use to guide your business instead? Why did you take that approach?

My team and I participated in the Technovation Challenge, a global competition encouraging female-identifying high schoolers to build an app to solve a social problem. Through this, we were able to write our first business plan. 

In the words of Former President Dwight D. Eisenhower, “Plans are useless, but planning is indispensable.” With regard to Trill, we actually have pivoted and evolved our business tons since participating in Technovation. That said, the process and exercise of taking time in the early days of our launch to consider moderation at scale, paid marketing campaigns, revenue strategies, and company culture was incredibly useful. If anything, writing a business plan gave us an opportunity to start thinking about some of the tough questions around building a business like how you make money and how you will grow community. Even if we didn't have all the answers when we first made our business plan, it gave us a solid foundation.

The primary guiding force we’ve always used when building our business (more than any business plan) is real-time user feedback. We are strong advocates for practicing collaborative and inclusive design processes that are user-centric. We’ve maintained a robust beta tester community with regular surveying, interviews, and focus groups to make sure we are building a product that users actually need, want, and are finding value in. 

How did you come up with the name Trill Project, and what are some of the things you considered during the naming process?

Trill is a combination of the words true and real. And Trill Project is an anonymous social network for mental health peer support. 

While it may seem counterintuitive, our experiences with Trill have given us the unique empathy and insight that anonymity and stepping away from whatever identities constrain you in the real world can actually allow you to more fully discover your true and real self. On Trill, we turn social media on its head. We replace followers with friends, emojis with True feelings, and selfies with Real people. 

We allow users to unlock their most authentic selves in a digital world, and it doesn’t happen overnight. The movement to make the internet a safer and more kind space for people from all walks of life is an ongoing process and project. It’s Trill Project. 

What were the immediate things you had to take care of to set up the business? 

Immediately after coming up with the idea for Trill, my first action item was to build out a team. My team and I believe in capitalizing on our strengths and hiring for our weaknesses. Personally, I am a technically minded individual and enjoy software development, graphic design, and product management. So I brought on a co-founder who was more inclined towards the world of operations and could handle marketing, external relations, and sales down the line. 

We worked right away to build team culture, setting expectations around responsibilities, commitments, and values. We did this by establishing workflow tools (GSuite, Trello, and Slack), setting up anonymous surveys for internal feedback, and identifying goals or OKRs for a given work sprint. We also collaboratively wrote community guidelines and strategized together on brand identity and company vision documents. With regard to logistics, we also had to set up our website, our social media channels, officially incorporate, and bring on an accountant and lawyer to advise us. 

What research did you do for the business beforehand? 

We were lucky to participate in an accelerator program in the early days of Trill. This gave us an excellent community right away to tap into for answers to questions around our business. We would recommend accelerators and incubators for first-time founders because it provides a valuable sense of structure, accountability, and routine. Additionally, you will be able to connect with other founders who can empathize in your journey and mentors and experts who are motivated to work with you.

How did you fund Trill Project? What were the challenges and what would you change? Would you recommend your funding route to other entrepreneurs today? 

We have been bootstrapped and only raised capital from equity-free sources such as pitch competitions and incubator programs. For us, this was the right decision and we wouldn't have changed anything around our fundraising journey. Given that we weren’t ready to work full-time on Trill and wanted to finish our college degrees, bootstrapping gave us the flexibility to run the business on our own terms and not feel pressured to grow in ways that weren’t authentic to our mission. 

I would recommend that founders take a critical look at what their ultimate goal is for their business. Do you want to grow very quickly? Is this a side hustle? Are you mission-oriented? Do you need capital to hit these goals? And then make educated decisions around fundraising from there. 

Do you pay yourself, and if so, how did you know what to pay yourself?

At this time, no one on Trill’s team takes a salary as we are all also still full-time students. 

How big is your team now, and what has the hiring process been like? Did you have any hiring experience before this venture? If not, how did you learn and what have you learned about it along the way?

Our team is now over 30 high school and college students from around the world all working as volunteers at Trill. Neither of us had any formal hiring experience since we started this venture so young, and for us the hiring process is something we put a lot of thought and care into. 

We recruit for our “trillternship” every new semester in the school year and during the summer. To do this we tap into women in tech groups we are a part of, personal connections, and outreach on campuses. We have a written component and interview process for all interested candidates. We evaluate possible hires not only based on their skill set but also their knowledge of Trill, support of our mission, and fit within our company culture and values. 

We’ve learned that it is critical to interview not just for skills but also for this mission alignment. Trill is a remote-first team, and most of us have never even met in person. Everyone is a volunteer. And so it’s important that we all like each other and the work that we’re doing. We conduct regular team satisfaction surveys and host a variety of team bonding socials such as movie nights, game nights, and showcases of our work. Our team is like a family, and we all support each other not only with our endeavors with Trill but also with our other academic and professional commitments and our own mental health and wellbeing. 

We are proud that our team is Gen-Z powered, BIPOC-owned, and majority female engineers. 

Did you hire an accountant? Who helped you with the financial decisions and setup?

We do have a bookkeeper who we are so grateful for! We would recommend finding and investing in a bookkeeper early on to keep all your expenses, taxes, etc. organized and in order. 

What has been the biggest learning curve during the process of establishing your business?

Learning how to manage running a business with also being a full-time student can be a challenge. We’ve discovered the importance of prioritization and sacrifice. As long as you and your team are on the same page around time commitments, goals, and accountability structures, then it is totally possible to be both a student and a business owner. In fact, college can actually be a great opportunity to take courses that make you a better entrepreneur, tap into professors as potential mentors, and network with classmates who may be future co-founders, hires, advisors, customers, or investors. 

How did you promote your company? How did you get people to know who you are and create buzz?

We first launched through a grassroots marketing campaign on Tumblr. From there, we have been growing our community organically mostly through socials. We have an active presence on all major platforms, and we work with influencers through our Trill Talks interview series who in turn promote our community to their audiences. We also have been able to achieve some wonderful press through various incubators and programs we’ve participated in, and we partner with other organizations as well for collaborative campaigns to mutually drive traction for each other’s products and missions. 

Do you have a business coach or mentor, and would you recommend one? 

Yes, we have a vibrant advisory board, and we definitely recommend building one out. Our business mentors give us tangible advice around our paid marketing campaigns, analytics tracking, moderation curriculum, and more. Additionally, our business mentors also offer less tangible advice sometimes, which can be just as useful. Such advice includes strategic input on time management, company vision, growth, and more. 

What is one thing you didn’t do during the setup process that ended up being crucial to the business and would advise others to do asap?

We only recently have started formally setting and sticking to company-wide OKRs. We would recommend that all business owners get into an early habit of goal setting collaboratively with team members. This allows for transparency around milestones, organization around prioritization and delegation, and accountability to hit your business goals.  

What is your number one piece of financial advice for any new business owner and why?

Protect your cap table with care. You will put so much time, energy, and love into your business, and you deserve to be an owner of the results of those efforts. Make sure you are building alongside teammates and investors who have been vetted and who share in your vision. 

Anything else to add?

Download Trill Project, and follow us on socials. Trill has a full schedule of upcoming Pride Month events, including social mixers, panels, and moderator orientations specific to LGBTQ+ issues. We're collaborating on these events with a variety of mental health and emotional wellness experts, including Blue Fever, a pocket-sized support group app centered around anonymous, judgment-free journaling for every chapter of life. Interested individuals can RSVP for our fireside chat on Mental Health for the LGBTQ+ Community here and for our “Ask Me Anything” Panel here.

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6 Tips for Creating a Productive Work-From-Home Environment

Working from home. It sounds great in theory, but it actually takes a lot of discipline to establish a routine that makes working from home productive and fulfilling. Given that many companies are currently implementing work from home policies to help flatten the curve and prevent the spread of COVID-19, I feel compelled to share my tried-and-true tips for creating a productive work-from-home environment.

As someone who’s been freelancing and working from home for the past five years, I’ve gone through all of the ups and downs WFH life can present—from feeling lonely and needing to talk to someone to needing to get out of the house and take a break (while practicing social distancing, of course). Scroll on for my tips on how to create a dedicated work space, set office hours, eliminate distracts, and more.

Create a Dedicated Work Space

Find a place in your home that you can dedicate to work. This will be different for everyone, and while I highly encourage having a desk, a dining room table or breakfast bar are great substitutes.

I don’t recommend your workspace be on your couch or on anything where you can recline. While I love being on my laptop and having my feet up on my couch, I am never as productive as I am when sitting upright.

When choosing a space for work in your home, try to find an area that has the following:

Find a space that you can check-in for work and check-out for everything you’d typically do while at home.

Set Office Hours

As a freelancer, it’s incredibly important to have office hours. Not only to manage client expectations but to give yourself structure.

Setting office hours should empower you to develop a routine for yourself like you typically would if you had a 9-to-5 office job. You’d wake up in the morning, enjoy your morning cup of coffee, maybe squeeze in a yoga class before you get dressed, and head to work. The same should be taken into consideration when you work from home.

Freelance life is supposed to allow you to do all of the things you want to do with your time. Don’t let it create an opposite effect where you convince yourself to always be on and working just because you’re able to do it from the freedom of your own home.

Eliminate Distractions

It’s so important to eliminate any distractions from your home that would take you away from getting work done. For me, I need my home to be clean - period. If the home isn’t tidy, I’m not focused.

Other distractions I try to eliminate are:

If you find yourself being distracted by a common theme throughout your days, find a way to eliminate that distraction so you can stay focused and do your best work.

Get Out of Your PJs

We all have days where we want to stay in our PJs, but it’s important to get out of the jammies and into something that says, “my day has started.”

Most of the time I will change out of PJs and into activewear or comfortable denim. I’ll wash my face, brush my teeth and hair, put on some CC cream and deodorant, and then get to work. It’s a small effort that makes a big difference.

Talk To Someone

One of the biggest things I didn’t realize about working from home is just how lonely it can be.

You are by yourself all day and unless you have clients who love phone calls, most of your correspondence will primarily be done through email. It’s important to talk to someone; anyone. Make time to pick up the phone and call a relative or an old friend. Schedule calls with people in your network so you don’t lose your conversation skills.

I realized a change in myself probably around my second or third year of freelancing, where I would struggle with conversation because I just wasn’t having any. I’d either talk too long or too fast, have difficulty forming sentences, and just felt awkward. This is not me.

Now I talk to everyone.

I am not shy when it comes to conversation and make an effort to have a casual chat with just about anybody I come into contact with throughout the day. That’s people I pass by when I’m walking the dogs, the barista at Alfred’s, Anthony who does my nails at Olive & June, Mary who delivers our mail… AN-Y-BOD-Y.

Get Out of the House

How many of you working from home and reading this typically don’t leave your house during the workweek? 🙋 I get it.

Your home is your office and your office is your home, but it’s still important to get out of the house every once in a while. Keep yourself active and engaged with things happening in your community so you can get out of your PJs, talk to somebody, and enjoy those office hours! (You like what I did there?)

It’s important to get outside and break away from work so you can actually stay engaged in work.

When I spend hours on my computer without any breaks my mind becomes fatigued, and I become less productive. So I’ll take the dogs for a longer walk, do a workout class on my balcony, or take my laptop to the coffee shop down the road and just take in a bit of new scenery to help adjust my internal boss mode.

So if you’re feeling uninspired or having trouble getting anything done, give yourself a break and get out.

About the author: Audrey Adair is a seasoned freelance communications professional and founder of The Scope, a platform providing resources and community to freelancers and the self-employed. Connect with The Scope on Instagram and join their email list to receive your free resource, The Freelancer Starter Kit.

This story was originally published on March 5, 2019, and has since been updated.

9 Things No One Tells You When You're Starting a Business

The one common thread that ties all entrepreneurs and founders together is that there is no rule book, especially if your company is developing an entirely new category or business model. There is no path to follow or leadership style to mimic. It can be a daunting experience but if you’re up for the challenge, it will be one that undoubtedly changes your life, for the better.

But if you’re a new founder or about to start a company and reading this in despair, then don’t stress, because there are a few things everyone should do when starting a business. Think you can cut it on your own but wondering how to start a business? Here are nine things to consider before you take that leap of faith and start your own business. 

1. Begin with revenue.

It’s nice that you have a dream, but the reality is that you will need to make money. Whether you are planning on pitching to investors or building a customer-funded business, you will need cash flow. Cash flow is the heartbeat of your business. Author and entrepreneur Seth Godin says, “It pays to have big dreams but low overhead.” Overhead are things such as rent, payroll, and other monthly expenses. Make a plan and write specific goals for how you are going to make money.

2. Protect your IP.

IP stands for intellectual property. Trademark your work and spend time on your privacy policies from the beginning. Talk to a trademark lawyer and make sure you are covering all your bases in the legal sense. Have a designated spot for organizing all paperwork, legal documents, and trademarks. Trust me, you will get a lot of paperwork mailed to you and you want to make sure you don’t throw away something important because you thought it was spam.

3. Market yourself.

Free marketing on social media is the key to growing your start-up with low overhead. Research social media marketing ideas, and do your homework. Study businesses that are doing what you do. Know your target audience and study CRM (customer relationship management) within your company. Where is your ideal customer currently spending their money if not on you? Connect with like-minded small business owners, and learn from each other. I am currently in a mastermind group with seven female, small business leaders in Nashville. We get together every other week to discuss various aspects of running a small business. Be proactive and curious. Ask questions.

4. Know your “why.”

If cash flow is the heartbeat of your business, then why is the actual heart. If you can’t write down the internal, external, or philosophical problem your company is working to solve, your business won’t have a backbone. As Frederick Nietzsche said, “He who has a why can endure any how.”

5. Understand yourself so that you can make great hires.

“Organizations are never limited by their opportunity. They are limited by their leader,” according to Dave Ramsey. You are the leader. You need passion, integrity, humility, courage, and self-discipline. Know your strengths, weaknesses, and leadership capabilities so that when the time comes to make a hire or seek support, you know where you are lacking. Become self-aware and discern in what areas you need to improve.

Start by taking personality tests that give you insight into your tendencies. My go-to test for myself and my team members is the DISC profile. Every interviewee that we are seriously considering hiring takes this test before we offer a position. Your interview process should be extensive. Turnover can kill a start-up. 

6. You are NOT the boss.

Your customers are the boss. Your customers are the hero. It’s ALL about your customers. The story about how and why you started your company isn’t as important as how and why your customers need your product. Learn how to serve your customers, but know that once in a while your customer might be wrong. Remember that you have the freedom to occasionally “fire” a customer. Embrace the concept that your product is not for everyone.

7. Build structure and find balance.

Professionals show up and do the work when they don’t feel like it. Become obsessed with time management or you will begin drowning in chaos. Build a structure for your business so that you can find a healthy work-life balance. Read time management books and find a routine. 

8. Build a tax savings account and an emergency savings fund. 

Finances and managing cash flow are two of the biggest distractions for any business. If you don’t have a CFO from the start, hire an accountant and/or bookkeeper, and build your savings. An emergency fund for your business can be anywhere from three months to a year of overhead expenses you have saved in the case of sudden disaster. Move money into your tax savings account every month and don’t touch it. Every quarter, while millions of business owners are scrambling to move around money for taxes, you’ll be able to stay hyper-focused on developing your business.

9. Embrace change and challenges. 

“Entrepreneurs are simply those who understand that there is little difference between the obstacle and opportunity and are able to turn both into their advantage,” notes Seth Godin. You will face many obstacles, ups, and downs. I could spend all day telling you about all of the bumps I’ve experienced in the last three years, but then I would be talking the problem—not the solution. Godin says, “You’re going to do your best work, and it’s not going to work. Taking it personally will cripple you.” It’s ok to be unprepared when you start. There are many variables you cannot control no matter how organized you feel. You will be much more stress-free if you learn to embrace change and don’t grip your business by the throat.

About the Author: Emily Howard, founder, creative director, and CEO of Consider the Wldflwrs, a jewelry company based out of Nashville, Tennessee. An original version of this article appeared on Darling.

This post was originally published on May 3, 2019, and has since been updated.

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The Small Business Guide to Bookkeeping

Whether you're new to the term "bookkeeping" or need some help with receipt organization, welcome! Bookkeeping is one of the most important processes to keep up with as a business owner, so we're bringing you the basics: what it is, why is matters, and tips for setting up systems that make it easier—so you can focus on doing what you love.

In this guide you'll find:

+ Bookkeeping basics and steps to get started
+ A glossary of key terms
+ Annual, quarterly, monthly, weekly, and daily checklists

It's Performance Review Season. Here's How To Create a Culture of Feedback That Lasts the Whole Calendar Year

According to a 2019 study by Gallup, only about 14 percent of employees strongly agree that their performance reviews inspire them to better their time on the clock. Meaning, from an entrepreneur's perspective, there's plenty of room for improvement when it comes to offering your small business' employees a moment to take the temperature on their performance.

Effective evaluations consist of real-time feedback that engages employees and produces better results. So if it's your very first evaluation season as a new entrepreneur, grab your pen and paper. Below, you'll find my top four tips for conducting performance reviews that feel doable and beneficial to all parties involved. (Plus, how to foster a culture of feedback that lasts the whole calendar year.)

1. Make Feedback Part of the Culture, From the Top Down

Communication about performance expectations should begin when you hire an employee and should continue regularly. Your employees will perform best if you articulate what you want from them and guide them on how to get there.

When hiring managers, let them know that communication and feedback are among your priorities, encourage them to understand the value and importance of feedback to your company’s culture, and invest in training resources at the outset of employment to best achieve a trickle-down effect.

Training can take the form of internal dialogue or bringing in a resource to coach your management team. Once they are trained, ensure that managers know they will be reviewed on the timeliness and quality of their feedback.

2. Create a For(u)m for Feedback

Ideally, feedback should be given immediately so an employee can correct or improve the behavior or work product. The easiest way to accomplish this is through email or other digital forms. This serves both the purpose of feedback and creating a record, which can come in handy if disciplinary measures are needed.

There are numerous performance feedback apps that allow self-reflection, managerial, peer, or even customer feedback. Alternatively, companies can develop an internal email template or intranet form so that all feedback touches on the same designated criteria. This cultivates a more objective and systematic approach to evaluations.

3. Define Success

Feedback is best given with measurable goals, whether individual or team-based. For example, you might define success as an on-time or on-budget delivery. If effective performance isn’t calculable by objective measures, create company values in which the employee must be successful and define tasks that exemplify those values.

So, if “customer satisfaction” is a company priority, then timely resolution of customer complaints or high customer satisfaction ratings might be task-oriented successes. The employee needs to know if your metrics aren’t being met, and managers need to know that it’s part of their job to help workers perform at their highest level. The performance feedback forum should double as a performance improvement plan designed for disciplinary or coaching purposes.

4. When You’ve Tried Everything

What happens if an employee just isn’t getting “it,” and the feedback process needs to move to a more formal disciplinary process or termination? The time spent documenting performance deficiencies can help decrease liability when done properly. More frequently, though, I get calls from clients lamenting about a terrible employee they need to fire (always immediately!), and when I ask to see the file, they send over a pile of glowing performance reviews. This undermines the reason for the termination (lack of performance) and makes the employee think they are being let go for a more sinister (or illegal) reason.

To minimize risk and maximize performance, be honest, be timely, and be your employees’ best role model for success.

About Sahara Pynes

Sahara Pynes is an attorney at Fox Rothschild LLP whose practice focuses almost exclusively on minimizing liability against lawsuits through preventative counseling on a range of employment issues. She works directly with business owners and their management teams to enhance company culture and provide practical strategies to manage human resources and risks. Sahara was named one of Angeleno Magazine’s Most Dynamic Women of 2018. If you’re a business owner who doesn’t know what forms to give a new hire, how to properly classify and pay employees/contractors, or just wants to button up their HR issues, reach out to Sahara at SPynes@Foxrothschild.com to see if she can help.

Where To Find The Right Investors That’ll Take Your Deck From Pitch To Closing

As an entrepreneur, I’ve had to present my ideas in front of many key decision makers. From closing sponsorship deals to recruiting executives, I’ve lost count of how many pitches I’ve given over the years—but I’ll never forget my first pitch to raise my fund  New Money Ventures. Raising money is one of the most challenging and rewarding experiences but as we know women are at a disadvantage with only 2% of VC funding going to women owned businesses. 

According to the Bank of America® 2022 Women & Minority Business Owner Spotlight, 79% of women business owners plan to obtain funding in the next year; however 75% of women business owners still wish they were more knowledgeable about small business financing. This is a big reason why I am so passionate about lending my experience and expertise to up-and-coming entrepreneurs—and why I launched a venture fund focused on money and mentorship. Here, I want to give four things to think about that will help you find the right investors at the start of your business.

1. Know Your Business Inside and Out

It sounds simple enough but understanding every aspect of your business before launching requires substantial research and deep reflection. Why does your product or service need to exist? Why will consumers be excited to spend their money with you? And why are you the one to create it? 

You must also understand your position in the market, what your competitors are doing, and how you stack up against them. Think: audience demographics, industry trends, and hard data that will not only back up your business proposition but also solidify your standing as a dedicated, success-oriented entrepreneur. Then, compile your findings in a robust pitch deck to share with your potential future investors. 

FYI: If you're looking for a guide to building the perfect pitch deck, check out the episode of Launch House that I shot earlier this year for tips, tricks, and a free presentation template to get started.

2. Pinpoint the right source of funding

Once you have a handle on your numbers, it's time to pinpoint the funding source that's right for your stage of business. The right choice might be friends and family who believe in your dream; a small business loan to cover initial costs like inventory or equipment; an angel investor in your niche; or a venture capital firm dedicated to helping you scale. My advice is to consider your immediate needs. If you secure funding, which option will help your business reach the next level with the least debt? There's a lot to consider, so give this point some good, hard thought before you jump in.

3. Prepare to answer the hard questions

Now that you have your target, take time to prepare for questions that everyone from venture capitalists to small business loan lenders will likely ask about your and your business. 

• What are you using these funds for? 

• Why are you valuing your company the way you are?

• Where are your competitors sitting?

• What data do you have to back up?

• What is your metric for success?

This is also an opportunity to prepare questions for your investors, too!

• What do they look for in investments?

• How much do they typically invest?

• Do they have any funding mandates?

• How will they support you? 

• If you're looking into a loan, ask if they lend to other businesses in your industry. 

• How long is the application process and what do they consider?

• Ask for testimonials and feedback from current or past customers.

4. Don't go it alone

Lastly, don't feel like you have to go through this process alone. I suggest working with your accountant or small business advisor to prepare documents, run numbers, and help you look at your business from a lender's perspective. Don't have a business accountant yet? That's ok! Banks like Bank of America offer Small Business Bankers that provide advice and guidance on everything from loans and lines of credit to alternative routes to access capital. 

The best investor is much more than cash in your pocket. In my experience, having someone experienced and knowledgeable enough to support and help grow my business in my corner is more valuable than any dollar amount. For this reason, I became a Bank of America business card holder and never looked back!

Two Founders Share The Process They Took To Raise Funding For Their Apparel Business

It seems as though women-founded businesses have been underfunded since (what feels like) the beginning of time. According to Crunchbase, only 2.3 percent of venture capital went to women-led startups in 2020, a drop from previous years. For two women who started a braless clothing company, and where we mostly pitched to men, it was clear why the process was hard.

We’ve gone through the search for capital multiple times, throughout the lifecycle of our company. We had no choice but to start by self-funding our business, Frankly, out of our personal accounts. We then moved from bootstrapping to raising different forms of capital after about six months of being self-funded. Having broken the million dollar raised mark, and despite being in the “difficult to fund” apparel industry, our experiences gave us insight into the tricky world of business. Here's what we've learned along the way, and what has helped us raise funding and lead our brand to success.

1. Understand what you have working for and against you, and go for it anyway.

Starting a company is fundamentally contrarian. There will be people who think you or your idea is crazy, but a product would already exist if it were a universally good idea. Start by making sure you have a clear idea of what funding in your sector looks like for your company. Have some early revenue? Go on Crunchbase and see who has raised a pre-seed or seed recently, and see what type of traction those companies have.

Earlier rounds are less likely to be documented, but finding a network of entrepreneurs can help you get an idea of what the funding environment is like in your sector, or an adjacent sector. For the two of us, it was tapping into our business school and undergraduate networks. With one of us being Asian-American, we also found Gold House which has a community of founders willing to help one another. We knew that being an apparel company was working against us, so we had to get creative on funding.

2. Funding may look different depending on your vision and stage.

We figured out what we needed at every stage, to get to the next milestone, and we raised enough to get there. Kickstarter is non-dilutive, so when we were looking for proof that people wanted the product, we knew that was our best option. If it went well, the Kickstarter funds would cover the inventory. And if it went poorly, we would take it as a sign that the company would not be a full-time venture for us. Luckily it went really well and we were able to cover our first runs of inventory with it.

We then raised a friend and family round, and a year and a half later raised a pre-seed from two institutions. The friends and family round was raised to set up the company, run experiments, and figure out exactly who our customer was. The pre-seed was to refine our focus and take the business to the next level. We thought a lot on if institutional capital would be a fit, and the answer is that it depends on what type of business you want to build. There’s an argument to be made about bootstrapping to profitability, then raising an institutional round if needed for specific reasons. The question to ask yourself here is: are you willing to give up more of your company to someone else, to build a bigger business? That tradeoff makes institutional capital not worth it for some founders. There are also pitch competitions, grants, and other ways to find capital for your business. 

3. Be able to point at concrete proof.

Lots of people raise ideas, but all of them have some sort of proof point that they gathered during needfinding. For every type of company, you need to have an indicator that people are going to pay for that product. Whether it’s crowdfunding, a social media proof point, or revenue, it’s much easier when you can point at concrete metrics.

For consumer businesses already bringing in revenue, metrics like repeat customer rate, returned item rate, and AOV is important. With a B2B company, you want some kind of pilot or letter of intent with your target type of consumer. As women raising for a women-centric product, we needed more proof for Frankly – especially when talking to male investors. We needed to show that bras were a pain point, so we asked investors to go home and ask the women in their lives if they hated their bras. They were often surprised by the answer, though we weren’t! 

4. Practice pitching with a variety of personalities.

We practiced our pitch at least 15 times with different people (investor friends, friendly faces, and friends of friends). This helped us ensure our deck was telling the story we wanted to tell. There are friendlier investors, people who ask pointed questions, and others who are obsessed with numbers. You never really know who you’re going to get when pitching, so make sure you’re ready for every personality.

Some investors are just harder to read than others, and that’s okay. Everyone will have different reactions to your deck but you’ll start to see patterns, then you can adjust accordingly before you go out to the market. Docsend, which we used to send out our deck, has a piece on what every deck needs. Our advice from what we’ve seen is to keep your deck under 12 slides. People have short attention spans.

5. Know that it’s going to be an emotional process, even if it goes well.

Even the most successful businesses have had trouble raising in the beginning. The example that we always think about is John Foley, the founder of Peloton. "Foley raised $400k at a $2M post-money valuation from eight angels. From 2011 to 2014, he pitched to 3,000 angels and 400 firms. Almost everyone said no. Eventually, he raised $10M from 100 angels," Joe Vennare shares on Twitter.

Even if you raise successfully, you'll still likely have to hear at least 30-40 no’s through the process. There are a ton of reasons why people don’t invest, and it doesn’t mean your company won’t do well. The self-belief that you’re building a business that is going to make a difference in the world will keep you going throughout all of it. 

About the Authors: Heather Eaton and Jane Dong are the co-founders of Frankly Apparel, an inclusive clothing brand that designs bra-less essentials for women of all sizes. Before starting Frankly, the two of them worked at Deloitte, Goldman Sachs, Uber, and Rothy’s. The duo met at Stanford Graduate School of Business, where most of their classmates were starting tech companies. They felt so strongly about making the bra-less trend more accessible to all cup sizes, that they started Frankly anyway.

How To Utilize Community Listening To Develop A Product Your Customers Can’t Resist

If there’s one thing business owners have noticed this year, it’s how rapidly the world is changing. Since the start of the COVID-19 pandemic, we’ve been running businesses with so much uncertainty. One way that I’ve found it easier to know how to adapt is by listening to my community, who frequently tells me what types of changes they’d like to see and what’s really working for them. This community-listening model has allowed me to take data-backed leaps of faith that have, in large part, paid off. 

Presently, I serve as the CEO of Novel Education Group, a private homeschooling service that I started after private tutoring in Los Angeles. Through my experiences working in private tutoring, I saw the need for schooling services to a community of kids who wanted to get an education while also pursuing their dreams and goals. Although this was the stepping stone for me to build an education business model that catered to them, it was hard in the beginning to find this kind of community and support when I was solely working one-on-one with clients and in education. You don’t have that sense of community like you would in an in-person school because it’s a very unique and specific niche business. It’s definitely a field where sometimes it’s hard to find relatability.

When I started, there was so much stigma around homeschooling that I knew I’d have to break to gain clients. From the start, I implemented a community-listening model that allowed me to understand the needs and concerns of my clients. Largely, I learned that the word “homeschool” is essentially unregulated, and for many clients, this uncertainty made them question whether it was right for them. For example, the knowledge level of a child in high school who’s 14 years old and has been homeschooled may be a high-school freshman or they may not. In the typical homeschooling system there’s no way to tell where they are, what they studied, if they’re on par with their peers, or if they’re on track to go to university.

Because I heard this feedback, it was incredibly important for my business to be regulated. We’ve partnered with an online private school and students have a teacher to guide them daily. On top of that, we have graders for each class that are constantly checking the work that the tutors do with the students. This has allowed me to break down the stigma and get people to understand that online schooling, homeschooling, and virtual schooling are trends for the future. It is highly accredited and a highly standard form of education.

We’ve also continued to see a growing trend of families who live in communities such as Los Angeles or London, where they didn’t want to be in one place for an entire school year. For them, our partnership with private schooling and implementation of their curriculum allows a student, who let’s say had to travel for two months out of the year, to continue their education path as remote learning.

All that to say I am proud of my entrepreneurial journey and it all happened because I was ready and willing to adapt to change or pivot. Today, I have a full-time staff who gets health benefits, and I’m also able to watch students graduate and accomplish their goals. Although change can be difficult mentally and emotionally, you just need to take it one step at a time and understand that things that are happening for the benefit of your business and its customers. 

Here’s some pointers that helped me stay on track and continue to grow my business:

1. Do not make changes unless it adds value to your business. There is a right time to pivot your business, and it has to be organic and filling a need.

2. Take some time to reevaluate your customer base and pay attention to their changing needs.

3. Always think of the most efficient and cost-effective way to operate. I work with a Small Business Banker at Bank of America who has helped me gain insight into business loans, and which ones are right for me. They also have a Small Business Resources site that provides helpful tools and information for business owners, such as, which benefit options are right for employees.

4. If you find you are missing out on business because of a road block, try and change it or work around it.

5. Be patient and conserve funds. You know what they say. Good things come to those who wait.

About the author: Tiffany Sorya founded Novel Education Group in 2014. She is a renowned influencer and thought leader in the education industry, widely recognized for spearheading a fundamental change in the way young people engage with education in the digital age. 

How Multiple Income Streams Helped This Small Biz Owner Find Freedom

Everyone daydreams about the things they would do and the places they’d go if they had money and the freedom to not work anymore⎯ but as Taylor deDiego has experienced, there are ways to structure your life to accommodate a job you’re passionate about while putting yourself on track to fulfill your dreams. How'd she do it? She found financial freedom through multiple income streams.

deDiego is an accomplished editorial copy director and brand strategist in the beauty industry who began her career at Sephora, working as a copywriter and editorial director for five years. After, she moved to Herbivore Botanicals to lead editorial copy direction. Two months ago she left Herbivore and more recently, she decided to go freelance to be able to work with multiple clients and increase her income stream. 

Though deDiego has only had her business for two months, she's already noticed internal and external shifts that reassure her she made the right decision. “It doesn't feel like I have this glass feeling over my head, the way that I felt when I was in a 9 to 5 working for one company. I get to strategically figure out what kind of clients work for me, and how much work can I take on. And then that, in turn, is reflected in financial advances and possibilities," deDiego says. She generously shares her tips and insights into what it’s taken to find personal freedom, by increasing her revenue stream while successfully operating a new small business. 

1. Know your value

One of deDiego’s biggest strengths is not accepting breadcrumbs. She stands firm in the value her expertise in her niche brings. “I'm not chasing clients who don't agree with my value,” she says. “What I'm charging is offering you value beyond, ‘Okay, great. We have somebody who's doing our copywriting and we don't have to do it.’ It's like impacting their business as a whole. I know the value of what I'm offering and not just as a service, but what the bottom line is for their business. I know the impact of having strong editorial direction and very strong copywriting.” 

This mindset has provided growth in more ways than one. “It's based in neuroscience and reprogramming your brain to really come from a high-value place. And that has been super impactful for me,” she shares. “It has overhauled my entire life, whether it comes down to career, or personal and family relationships. That has been foundational in getting me to a place where I know that I can hold out for the clients that are the most aligned for both, pay and projects, and long-term relationships.”

2. Assess your priorities

For deDiego, as for many, the pandemic “shifted” a lot of things. “I got really clear on what is important to me. What are my long-term goals? What are my short-term goals? And refocusing on a career that felt fruitful and exciting was a place that I found I spent a lot of time thinking about.”

When you get clear on what you want, and even what you don’t want, you can start to intentionally create your life in a way that allows those things the opportunity to come to fruition. “I think that more than anything, I look at this as a real lifestyle shift,” she says. “I just think that it opens up a lot of freedom in my life.”

3. Merge multiple income streams

“I see the potential of how far this can go,” she says, of her ability to earn significantly more than she did at her previous 9 to 5 jobs. Multiple income streams allow her to control working from different places, and she’s planning on using that to her advantage. “I've always wanted to live in multiple cities,” she explains. “San Francisco is my home. It's where my family is. I have a beautiful apartment here! But I can also pick up and go work in New York for a week and be on a client's shoot there, effortlessly and easy.”   

Another place on her list that can now be a reality? Paris. “That's the city that I've always wanted to live in again,” she shares. And I'm like, ‘Great. You can go on your quarterly vacation there,’ and spend significant amounts of time, doing the things that really light me up.”

While travel is great, her eyes are also on the future and stability that’s now possible to continue along this path. “And then I think on the longer-term goals, like buying a house always felt like, 'oh my God, how would I do that?'” Now, with multiple income streams, she doesn’t have to worry.

Written by: Abby Stern

This Founder Evaluates Her Business Every 6 Months To Maximize Growth

In life, you have to plan and account for unknown elements and circumstances that can’t always be planned for, as they’re unknown. The best way to do this in business is to make sure everything that can be planned, is. Most businesses, particularly small businesses, like to use org charts for budgeting, staffing, responsibilities, and chains of command, among other things. While they are an excellent tool to utilize, they aren’t the only way to plan and organize your business to maximize growth. 

Jasmine Morris runs a multifaceted PR agency and likes to refer to herself as a digital storyteller. She opts not to use an org chart for her agency, “Not because [she] doesn’t believe in them,” but because she takes the untraditional route and invests in business strategists. “Focus on the overall vision of the company,” she advices, adding that she assesses her business quarterly. By doing so, she has proudly scaled her agency to not require hiring many people, and found a way to replace humans for a system that has generated multi-six figures to seven figures.

Wondering how she did it? We were too, so we got her to spill her secrets. Here's 4 steps she has taken to successfully scale her agency to success:

1. Clarity

The most important thing for Morris was to know what she wanted internally and externally for her agency. She continues to refine her strategy by coming back to those questions mid way through the year. “We've gotten super clear on our dream client, and we've created a system where we only promote internally, to our clients, as a referral system to keep business flowing in,” Morris says. For example, she made the decision not to invest in social media marketing for her agency, which guides her company in a clear direction and has financial benefits. “Not focusing on social media marketing has allowed us to not hire a social media manager and eliminate any additional cost at this time.”

She also sets up her week for clarity and efficiency to accomplish their goals for the week. “We have specific days for specific tasks. For example, Mondays are CEO days where it gives me, as the CEO, a chance to check in with the financial goals, marketing for the week, branding, etc. We only schedule company calls Tuesdays through Thursdays, which eliminates having calls throughout the week as well.” 

2. Continue to invest in yourself

Morris abides by the adage, “If you don’t invest in yourself, who will?” Despite her success, she continues to invest yearly in high-level business coaches to continue her agency’s growth in reach and profits, and every six months invest in their systems and team to ensure it's improving. This approach helped her invest her first $10,000 right back into the company. “To surpass our first six-figures years ago, we invested our first 10k to identify what our messaging should be and how we should present our sales pages, and got super clear on our signature services. We found that only having three signature services is key to scaling and having a strong ROI every month. The fewer services, the better the ROI (in our opinion).” She continues, “We've invested almost 10k+ each year in business development and we've always seen a 10x return on it.”

3. Eliminate roadblocks

Morris found that for her company to run smoothly and successfully, the agency must be aware of and combat roadblocks on a more frequent basis. “Every week, we are focused on eliminating roadblocks for the company,” she explains. “We keep a database of 'opportunities' that we need to address whether it's financial, with whom we may need to hire, or processes that we have in place that we need to change. Having this database is a game changer.” 

By combating issues every month, Morris and her team are set up easily to progress forward and plan for major changes every half-year.

4. Untraditional hiring

As Morris previously stated, she likes to take the untraditional route. That’s particularly true when it comes to her hiring practices⎯more so her hesitation to hire non-essential employees. “Unlike most agencies, we didn't hire the traditional way by hiring a VA, project manager, marketing manager, etc,” Morris says. “What has allowed us to grow strategically, authentically, and to multi-six figures is to invest in experts and focus on growing from the inside out. Many female CEOs get stuck on hiring, but until you know what you need, you cannot scale properly so invest in someone who can assist.”

She isn’t advocating for any business to nix basic hires for operating, but some of the non-essential positions can be outsourced to apps and systems that help save an agency or company money while scaling. “Of course, there are basic hires that you should identify before operating. But as you operate, you learn what gaps you need to fill. After identifying what needs to be accomplished to run our agency, we've replaced a lot of those people with systems and strategies that allow us to serve our clients easily.” 

Morris adds that she also relies on Asana (a work management platform designed to organize, track, and manage a team’s work) and Dubsado (a suite of business tools including template creation, scheduling, and invoicing among other things). “We have a project overview within Asana that allows each team member to know what the project they are assigned to is about and what their specific tasks are,” she shares of the software. The versatility and range of both systems help her “eliminate hiring a ton of people,” again saving money that can be re-invested for further growth. 

Written by: Abby Stern

35 Latina-Owned Businesses and Entrepreneurs To Know And Support Always

For seven years, the State of Latino Entrepreneurship Report has listed Latino-founded companies as “the fastest growing segment of the U.S. business population.” In 2018, findings indicated that Latino-owned businesses generated more than $460 billion in annual revenue while employing 2.9 million people. 

According to the 2021 report, Latino-owned businesses are employing 55% more people than in 2007—compared to an 8% increase in employees at white-owned companies. Undoubtedly, Latinas are playing a strong roll in these favorable numbers. 

In fact, over the last five years, 46% more Latinas have launched a business. ​Since 2007, the number of Latina-owned businesses in the U.S. rose to over two million, a growth of more than 87%. And it’s about high time these entrepreneurs and their businesses get the attention they deserve.

Here, we’re doing just that by focusing on these categories:

• Beauty

• Finance

• Food and drinks

• Lifestyle and wellness

• Literature, marketing, media, and public relations

• Spirituality

Keep reading to see the 35 strong Latinas who are blazing the trails for generations to come.

Beauty

Carolina Contreras, Founder of Miss Rizos 

Identifying and impacted by a gap in the curly hair care market, Contreras set out to launch Miss Rizos (Spanish for curls) to fill it. Now, she’s grown it to a multi-national business with a salon open in her native Dominican Republic, which also sells apparel.

Follow her on Instagram.

Shop apparel here.

Yasmin Maya, Founder of Birdy Lashes and Beauty

With a strong following of 1 million, Maya has established herself as a force to be reckoned with in the beauty industry. Her line, Birdy Lashes and Beauty, is vegan, cruelty-free, and features liquid liner, in addition to false lashes and adhesives. 

Follow her on Instagram.

Check out her lashes.

Leah Guerrero, Founder of Brujita Skincare

Through faith and hard work, Guerrero's vision of a high quality, head-to-toe skincare brand has fully come into fruition. She founded Brujia Skincare in 2017 and in five years has grown it to offer makeup, facial cleansers, lip balms, and even candles.

Follow her on Instagram.

Shop skincare here.

Julissa Prado, Founder of Rizos Curls

Prado, a curly-haired Latina with Mexican roots, wanted to create something for women like her—and she did just that with Rizos Curls. The line offers anything a curly girl might need, like hair products, diffusers, and brushes.   

Follow her on Instagram.

Shop her products here. 

Sandra Velasquez, Founder of Nopalera

In today’s saturated market, it’s hard to know which skincare brands you can actually trust. In Nopalera, Velasquez has created a trustworthy and Nordstrom-carried brand, and found a way to ensure that folks know Latin American hands can, and do, make luxury products.

Follow her on Instagram.

Shop soaps, scrubs, and other goodies here.

Ana Nuñez, Founder of Vida Bars

Because Vida Bars are shampoos and conditioners that come in bar form, they’re a great eco-friendly option when it comes to haircare. Nuñez spent her entire adult life fighting her curly hair, a fact which she credits to society’s focus on taming and smoothing our strands.

Follow her on Instagram.

Shop Vida Bars here.

Joanna Vargas, Celebrity Facialist and Founder of Joanna Vargas Skin Care

Vargas sees herself as a strong, Latina, female founder. She’s a big name in the beauty industry and often attributes her love of beauty and, in true Latinx fashion, says that her passion for skincare was sparked by her grandmother.

Follow her on Instagram. 

Shop her line here.

Finance

Katia Chesnok, Founder of Economikat

Chesnok is a financial expert based in Miami whose sole mission is to help her “amigas (girlfriends) get rich.” She offers helpful advice for upping your financial game—including her list of 50 side hustles and ways to make passive income. Her efforts to support Latinx communities have been featured on CNBC, Time, and Univision.

Follow her on Instagram.

Subscribe to her blog here.

Giovanna “Gigi” Gonzalez, Founder of Gigi the First-Gen Mentor 

A financial educator, speaker, and money coach, Gonzalez is the light at the end of the tunnel, for many first-generation Latinas navigating life away from their ancestral country. With almost 200k followers on TikTok, it’s clear that her efforts and teachings are making a large and necessary impact. 

Follow her on Instagram.

Sign up for her Investing for First Gen Wealth Builders course.

Jully-Alma Taveras, Founder of Investing Latina

Taveras is an award-winning, Latina, personal finance expert. In a 2020 tweet, she thanked her supporters for getting her nominated for not one, or two, or three, but four Plutus Awards—which she referred to as “the Oscars of personal finance.” Among others, she won the 2021 award for "Best Personal Finance Content for Underserved Communities."

Follow her on Instagram.

Sign up for her introduction to investing workshop here.

Linda García, Founder of In Luz We Trust

In seven years, García turned $7,200 into $400,000+ (and counting) in the stock market—now she’s helping BIPOC communities to do the same. Through In Luz (Light) We Trust, she creates programs and workshops to teach people how to build generational wealth by investing in the stock market.

Follow her on Instagram.

Enroll in her stock market deep-dive program here. 

Jannese Torres, Founder of Yo Quiero Dinero

From her Instagram posts, her supporters can tell that Torres is living her best life. The Puerto Rican, personal finance expert has become work-optional, meaning she doesn’t work because she has to, but because she wants to. She is providing a blueprint for other Latinas to do the same through one-on-one coaching and workshops. 

Follow her on Instagram.

Listen to her podcast here.

Food and Drink

Kayla Castañeda, Founder of Agua Bonita 

With the recent spa water scandal, which saw the cultural appropriation of Latinx beverages known as aguas frescas, it’s refreshing to know that Castañeda's business exists. Agua Bonita produces canned, semi-sweet aguas frescas in classic flavors like agua de jamaica (hibiscus tea) and sandía (watermelon).

Follow her on Instagram.

Add some aguas frescas to your cart here.

Veronica Garza, Co-Founder of Siete Foods

The name of Garza's brand is an homage to the number of members in her family: siete, which is the Spanish term for seven. With Mexican American and South Texan roots, food often brought her family together. Through Siete Foods, she’s making space for more Latinx folks at the table. 

Follow her on Instagram.

Get a taste of the brand here.

Yadira Garcia, Founder of Happy Healthy Latina and part owner of Loisa 

Garcia is a certified natural foods chef and holistic health coach. She’s been featured on Thrillist for her cooking classes, which look to ancestral nutrition as inspiration. She’s also part owner of Loisa, a brand that provides classic Latinx spices and kitchen tools—like a tostonera, which is used to smash plantains. 

Follow her on Instagram.

Shop Loisa here.

Dalina Soto, MA, RD, Founder of Your Latina Nutritionist

A Dominican with strong ties to her culture, Soto launched Your Latina Nutritionist to put an end to chronic dieting. Her threefold mission is simple: heal clients' relationship with food, help them find health, and teach them positive nutrition.

Follow her on Instagram.

Take her quiz here.

Lifestyle and Wellness

Rebecca Alvarez Story, Sexologist and Founder of Bloomi 

As a sex therapist and sexologist, Story is an expert in all things sex. She pooled that knowledge to launch the first sexual wellness brand to hit shelves at Target. Bloomi offers whatever one might need to set the mood for romance—including candles, massage oils, lubes, and sex toys.

Follow her on Instagram.

Shop sexual wellness products here.

Cynthia Gonzales, Founder of Salvies Who Lunch 

Known to her close friends as Cyn, this Latina entrepreneur created a much-needed community for Salvadoreans in Los Angeles, where there’s a large, and often underrepresented, population. Through her venture, Gonzales hosts events designed to connect and empower the people who share her homeland.

Follow her on Instagram.

Preorder her new book here.

Karina Primelles, Co-Founder of Xula 

Primelles co-founded Xula with her business partner Mennlay Golokeh Aggrey—making the brand a Latinx- and Black-owned business. The duo’s offerings include clinically-backed botanicals for all menstruators.

Follow her on Instagram.

Shop products here.

Cindy Luquin, MA, CSE, Founder of Sexual-Health Education Platform Pleasure to People

Luquin is a certified sexual health educator hailing from Guatemala. She's also proudly and openly bisexual. Luquin uses her platform to educate on sexual wellness, with short videos about the importance of foreplay, as well as certain STD prevention methods, like taking PrEP.

Learn more here.

Publishing and Marketing

Daniella Pierson, Founder and CEO of The Newsette 

When she was 19, Colombian American Pierson founded The Newsette, a wellness-focused newsletter company. Now, at 27, she’s worth $220 million—which makes her one of the wealthiest women of color on the planet. According to her feature on Forbes’ Billionaires section, she’s also “younger than just about any self-made female entrepreneur with a nine-figure fortune.”

Follow her on Instagram.

Subscribe to The Newsette here. 

Patty Rodriguez, Founder of Lil’ Libros 

In the eight years since Rodriguez self-published her first Lil’ Libro, she’s turned it into a literary empire. The brand is an independent bilingual children's book publisher and has produced more than 65 books about Latinx icons including Selena, Celia Cruz, and Frida Kahlo.  

Follow her on Instagram.

Shop Lil’ Libros here.

Karina Martinez, Founder of The Avana House 

With Cuban ancestry, Martinez is a self-described Queer Latina, who’s the brains of the operation that is The Avana House—a public relations agency dedicated to amplifying Latinx voices and stories. She largely represents Latinx-founded brands to prevent the erasure or appropriation of our customs. 

Follow her on Instagram. 

Follow her company on Instagram here.

Katelina Eccleston, Founder of Reggeaton Con La Gata

Eccleston built something amazing from the ground up: the first woman-led platform dedicated to analyzing and chronicling the history of reggeatón. She’s been tapped for her expertise by Teen Vogue as well as Univision, and was profiled by HuffPost.

Follow her on Instagram.

Shop her merch here.

Zoila Darton, Founder and Creative Director of WORD Agency

If you ask Darton what she does, she’d respond, “I make things, connect people & take care of my son.” Through WORD Agency (the acronym standing for “we open real doors,”) she’s conceived an Afro Latina-owned, creative marketing agency, as well as a thriving community.

Follow her on Instagram.

Listen to her appearance on the Fun Forever podcast here.

Spirituality

Samantha Santiago, Manifestation Coach and Spiritual Guide 

What exactly does a manifestation coach and spiritual guide do? Well, Santiago helps “Latinas and BIWOC reclaim their wildest dreams.” She does this by sharing vulnerable videos to Instagram—like this one about healing anxiety and depression—and offering one-on-one sessions. 

Follow her on Instagram.

Book a yogic healing session here.

Miguelina Rodriguez and Griselda Rodriguez-Solomon, Founders of Brujas of Brooklyn

Afro-Dominican identical twins, the Rodriguez'—who each earned PhDs in social sciences—have been on the forefront of destigmatizing brujería and spiritual practices. As the Brujas of Brooklyn, the sisters blend their academic and spiritual knowledge to teach people how to be more in control.

Follow them on Instagram.

Explore their workshops here.

Christine Hernandez, Author and Founder of The Maltyox (Gratitude) Method

As a Guatemalan and Mexican woman, Hernandez embraces her Mayan culture as an important part of her identity. She uses her platform to help other folks embrace indigenous same practices.

Follow her on Instagram.

Buy her book here.

Kim Guerra, Healer and Founder of Badass Bonita 

At the heart of Kim’s work as a healer is the premise of revolutionary self-love. She encourages people to accept the parts of themselves that they’ve previously shied away from, and instead use those emotions for good—like to achieve their personal and professional goals.

Follow her on Instagram.

Shop collections here.

Alex Naranjo and Marlene Vargas, Founders of House of Intuition

Naranjo and Vargas are a married couple who founded House of Intuition at a pivotal moment in their lives. Intimately familiar with the power of magic, they launched their brand to inspire others to tap into their own intuition, which they refer to as the source of their magic.

Follow them on Instagram.

Check out offerings here.

Jasmin Alejandrez-Prasad, aka Esoteric Esa, Astrologer, Numerologist, and Writer

Think of Alejandrez-Prasad as your esoteric homegirl. An astrologer and numerologist, she’s been quoted in Refinery29, Well+Good, and Bustle. She’s also a prolific writer with bylines in Cosmopolitan, Popsugar, and Hip Latina. 

Follow her on Instagram.

Book a reading here.

Stephanie N. Campos, Astrologer, Healer, and Writer

A Mexican American astrologer, Campos has been tapped by Cosmpolitan, as well as Well+Good for her otherwordly intel. Her work for the former is a monthly horoscope while the latter sees a column devoted to horoscopes for new moons and full moons.

Follow her on Instagram.

Read her work here.

More Latinas to know

Gina Moreno, Content Creator

The largely-white, male-dominated tech industry can be an intimidating for Latinas who don’t quite fit that mold. In former times, someone like Gina might have not wanted to share her experiences in the field, fearing retaliation. But that made it all the more isolating and Moreno is creating content that reminds Latinas they’re not alone in their struggle.

Follow her on Instagram.

Read her helpful content here.

Patty Delgado, Founder of Hija De Tu Madre

Literally, hija de tu madre translates to daughter of your mother—but that misses the nuance of this well-intentioned backhanded compliment. There isn’t a literal translation but the phrase is ofted used as a response to someone being sassy. In every sense of the word, Delgado centers Latinidad in her pieces. For instance, she offers gold-plated necklaces for basically every country in Latin America.

Follow her on Instagram.

Shop clothing here.

Cyndi Ramirez-Fulton, Founder of Chillhouse

Ramirez-Fulton created Chillhouse to curate self-care treatments to ensure your vibe is, well, chill. On the website, users can shop myriad products for their next night in, like nail sets, apparel, candles, and face oils.

Follow her on Instagram.

Shop Chillhouse here.

Written by: Natalie Arroyo Camacho

Why Every Business Owner Should Look Into Getting An LLC

Ensuring you have the correct business entity is of utmost importance, whether you're a new business owner or a seasoned entrepreneur. How do you do that? You need to add an LLC, as they are the most common legal structure. But you may wonder: what is an LLC and why is it important to have? We speed-dialed an expert to give us the 411 on the true LLC meaning. Taylor Tieman, an attorney and founder of Legalmiga® and The Legalmiga Library®, gives us the scoop on all things LLCs so you can go from a novice to pro business owner.

What Is An LLC?

Let's start with the basics. LLC stands for limited liability company. "This is a type of legal entity that your state will (in most cases) allow you to form in order to create a 'legal barrier' of sorts around your business," Tieman says. "It is essentially a type of legal protection by way of forming a formal business structure."

In other words, one of the primary benefits of an LLC is that your personal liability doesn't get entangled with your business' liabilities. "If you do not have an LLC formed, your personal assets—like your home, car, property, wages—may be vulnerable in the event of a lawsuit against your business as a sole proprietor," Tieman shares. "If you have an LLC and the business is sued, then only the business' assets will be vulnerable in the event of a lawsuit as long as no fraud is being committed within the business."

It's also worth noting that not all businesses are eligible to form an LLC. "For example, in California and other states, many licensed professionals cannot form basic LLCs and must look to another business structure due to their licensing," Tieman says. Besides the legal protection that LLCs provide, she adds that LLCs also allow you to choose the best tax election for your specific needs such as an S corp.

How Much Does An LLC Cost?

The cost of forming an LLC varies from state to state. Tieman notes that filing fees usually range from $70-$250. While the filing fees may not be sizable investments, there are recurring annual or biannual filing fees to factor into your budget. For instance, California's Franchise Tax Board fees are $800 a year. "Before forming an LLC, it is imperative to understand the level of upkeep that goes along with it," Tieman adds. "While they offer great protection, it is like anything else in business; you need to keep it up-to-date in order to have it properly protecting you."

How Do You Create An LLC?

Lastly, you may be wondering how you can get an LLC. If your business is eligible and you have the means to maintain the recurring fees, Tieman strongly advises forming an LLC in your business journey right away. "The more inherently risky your industry is, the more imperative the LLC is to form early," she says.

So how do you create an LLC? You can find instructions and filing fees via your Secretary of State's website. However, before taking those steps, Teiman recommends first speaking with an attorney in your state. They'll guide you through the process, address any local compliance concerns, and ensure you are selecting the correct entity for your business, as others may be better suitable such as a corporation or limited partnership.

Written by: Jessica Estrada

I've Been a Small Business Owner for 7 Years—These Are the 4 Tools That Make an Impact

When it comes to running a small business, the days are long and the weeks are short. As a business owner, you’re often a multi-hyphenate, who heads up finance, marketing, HR, and the list goes on and on (and on). So how can you streamline your business and be set up for success? It’s as simple as choosing the right tools for your business and your goals.

Just ask Bola Sokunbi, founder and CEO of Clever Girl Finance. Running her small business is a team effort and she provides them with tools that’ll help her employees align with her business goals. Sokunbi started her business in 2015 as a hobby and made it into a serious business venture in 2018. 

In those seven years, she not only stayed dedicated to some of her favorite digital tools but also picked up a few along the way that has helped her run her company more efficiently. “We basically evolved into tools that are supportive of team sharing and collaborative efforts. Anything that supports collaboration for a virtual team, are tools we have aggregated towards,” Sokunbi says.

Here are four tools that have made an impact for Sokunbi and her small business.

1. Google Workspace

What does Google not do? Whether you want it to set up a business email, or use it to share files, Google Workspace has almost every tool that teams can benefit from. “In terms of organization, G Suite is a really important tool. Especially because now I have a team and my team is mostly remote, and we do a lot of file sharing. We really rely on the G Suite offerings,” Sokunbi shares.

2. Slack

“One big tool that we use, that many companies do, is Slack,” Sokunbi says. Slack is a messaging app that businesses can use to connect their employees. From being able to chat with each other to sharing files, Slack unifies a team. “Again, we are primarily a remote team so it really helps stay on top of our communications. In an easy, noninvasive way, Slack has been super helpful for that.”

3. Bank of America Mobile App

Though this isn’t a tool per se, Bank of America’s mobile app1 has become a resource for Sokunbi to manage finances and day-to-day operations. “I am a Bank of America business account holder so that’s really helpful in terms of managing day to day. I’ve had other business accounts… and found the services that Bank of America offers just more robust. They also have a small business owner's resource center that’s pretty cool,” Sokunbi says. Their small business resources are set up to help owners find the tools and information they need to run their day-to-day operations smoothly. Whether it’s general information about accounting matters to understanding simple terms such as free cash flow, or even getting advice from other women entrepreneurs, you can find helpful content for starting and managing your business. From managing accounts to doing payroll for her employees, Sokunbi chose to switch over to Bank of America because it offered more services that covered all her needs financially.

4. Canva

“[We use] Canva for design. Before we were very much into InDesign or Photoshop, our designer used to use. Once Canva came along, we shifted to it because it allowed team sharing,” Sokunbi shares. The free online graphic design tool is easy to use, and great for everyone from beginners to expert artists. Not only does the tool have free templates, but it is constantly being updated with relevant design trends.

1. Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply.