Posted By Sheryl Thai On 21 April 2017
Imagine for a moment that you have just started a product based business. You’ve also only got $5000 in savings to start it. Now, imagine stocking your product in the likes of Woolies, to International heavy hitters such as Urban Outfitters, Anthropologie, Virgin and Sephora? Do you truly believe this is possible?
Interestingly, the three female entrepreneurs in the photo above all started their businesses with LESS than $5000. Collectively, they now stock in those big names and thousands of stockists around the world.
At our last Melbourne meet up on Weds, some stories were shared that really inspired us all.
Kim from Babe Australia told us how she woke up at age 40 and realised that nobody was going to say “Hey, here’s $250k to start your business idea”. So she quit her job and started 4 businesses – two ideas failed and two worked. She sold one so she could focus on Babe natural body scrub products. Oh yeah, she had less than 10k Instagram followers when Urban Outfitters in San Francisco asked if they could stock her product. Say what?!
Jessica from Health Labs sold her car for $5k to start up her own business. She was rolling protein balls until she got major hand cramps and asked her sister and her posse of friends to help be “ballers”. On her vision board, she had a photo of Richard Branson photoshopped with a tube of her protein balls in his hand. Naturally, Virgin Australia now stock their products.
Mia from Moxie, at age 21 created a prototype of her famous Moxie tampon tins out of a deodorant can covered with white & pink Posca pen markings. She presented it to the buyers at Woolworths. Before the buyers said yes, she had already spent her entire savings on a container of tampons which apparently is a lifetime supply for all the 140 women in the room that night. Of course, with her passion and vision – she won Woolies over and said they would stock it across Australia. Holy Moxie!
Soooo… if you haven’t started your business idea yet and believe it’s because you don’t have the money, the resources or capital. These stories are calling bullshit on you.
I also started my cupcake business with less than $2000, so speaking from experience, please don’t let this limiting belief hold you back. It took me losing my job to push me forward to start mine, but not all of us will be as fortunate.
One of my fav quotes is “You are more resourceful than you think!”
Sheryl Thai | CEO
League of Extraordinary Women