Terra Saunders, founder and CEO of Waitressville®, started her business in her apartment and grew it into a multi-million-dollar brand. Taking advantage of the “breastaurant” movement, she created custom uniforms that are stylish without being ill-fitting or unflattering – including sizes for petite and plus-size women.
On negotiating deals, she says, “Many of them [the fabric mills and manufacturers, which are 95% male-owned] are used to dealing with men when negotiating million-dollar contracts so I’ve definitely gotten the condescending attitude that they’d prefer to be dealing with a man. I enjoy the opportunity to turn those situations around. If you’re professional, honest and kind, you might not change the person who’s treating you badly, but you’ll usually get the results you want.”
Terra also stresses the operations and cost-management aspects of launching/running a brand. “Work on the processes of each part of the service or product, from creation to sale to delivery. If your processes are in order, it will be easy to scale it when your business blows up big. Keep your expenses low! I can't say it enough: keeping as much money and cash flow into the business for the first few years is so crucial. I have a friend who is having some awesome success in the early days of her business and I see her spending precious profits on handbags and a luxury car. I so desperately want to be the angel on her shoulder telling her, ‘You could earn enough to by 10 BMWs in 2 years if you would put that money right back into the business.’ Or, ‘Times will not always be this great. Businesses ebb and flow. Save that cash for when it's ebbing.’ I learned a lot of these lessons the hard way, but I am grateful that I learned them eventually. Even though Waitressville is experiencing amazing success, you can still find my 11-year-old car in the parking lot (and much more money in my bank account).
See the full article HERE at Nightclub.com