Photo: Courtesy of Creative & Cultivate
Until you actually get out there and start a business yourself, there is no way to know what challenges might come your way. That’s why we created our From Scratch series—a space for founders and entrepreneurs to talk about their own experience turning visions into small businesses from the ground up. And they don’t hold back. We’re talking mistakes, failures, and missteps along with the lessons they learned (the hard way) and how they turned them into opportunities.
Unexpected setbacks and slip-ups can sometimes discourage you to drop your project altogether but we’re here to tell you that even the most talented businesswomen fall down. The secret to success is getting back up and moving forward.
So, we browsed through some of those interviews and compiled their answers to this question: What is one thing you didn’t do in the setup process, that ended up being crucial to the business and would advise others to do ASAP?
Read on for education on the do’s and don’ts of small business start-ups!
“Not creating a business plan from the outset and not having a deeper understanding of margins and profitability.”
The Beauty Chef Founder Carla Oates
Read the rest of her interview HERE.
“I'm not sure there's one thing per se, but I would definitely dive into as many of the details as you can in the beginning… You won't think of everything but the more upfront preparation you do, the less frazzled you'll be… Entrepreneurship is a dance.”
Squeeze Co-Founder & CEO Brittany Driscoll
Read the rest of her interview HERE.
“I’d advise any new business owners to always think two steps ahead—whether that’s in planning, product development, press schedules, as well as any foreseeable speed bumps along the way.”
CLE Cosmetics Founder Lauren Jin
Read the rest of her interview HERE.
“I did this unwillingly, but don’t beat yourself up over missed deadlines. I 100% can guarantee almost all of your timelines will get messed up, just go with it. Unless a retailer is putting pressure on you, don’t put crazy pressure on yourself if things are running behind.”
MARA Founder Allison McNamara
Read the rest of her interview HERE.
“I don’t know if there was anything that dire that we missed in the beginning. I wish I found this accountant sooner, I wish I spent more time evaluating e-commerce options sooner, but it just was what it was. Not to say we had it all figured out off the bat, hardly. I just think there’s value in learning as you go and giving yourself room to make mistakes.”
Read the rest of her interview HERE.
“Try to think about five years down the track. Would you still be happy with this font? This color? This shape of the tube? If you’re D2C, will this product be able to compete aesthetically once you hit the shelves with brands that have been in retail for 20 years? It has to be a wedding-dress mentality. Make it timeless, and make sure you love it, and that it makes you proud.”
—Zoë Foster Blake, Founder and CCO, Go-To Skincare
Read the rest of her interview HERE.
“I wrote myself off in the finance section right away—I don’t do excel, I am not good with numbers. Well, tough luck to me. No one should know your numbers better than you. So with that I learned how to manage and own that even though I didn’t want too."
—Ellyette Gheno, CEO and Founder, BootayBag
Read the rest of her interview HERE.
“A sales team and a marketing team—I launched with neither and it took a huge toll on my inventory.”
Dana Rae Ashburn, Founder, ABLE Cosmetics
Read the rest of her interview HERE.
To read more about the beginnings of these business owners’ entrepreneurial journeys, struggles and all, take a look each of their From Scratch segments!
Missed out on Gina Bianchini’s incredible session from our Offsite? No worries! We’re sharing her insights on building a thriving community that feels like a real network, not just an audience.