Kaylie Dawn is a labor of entrepreneurial love, but it isn't my first. From a young age, I loved the idea of making an income using my creativity. I went to Massachusetts College of Art + Design, the only public university with 100% arts programming. I've painted and sold my artwork for many years. Working for myself just comes naturally to me!
During and after college, I worked at a highly reputable Boston boutique as the manager, buyer, and merchandiser (and all the other roles—you know how it goes in small businesses). This retail experience catapulted my ability to think and work entrepreneurially. When the owner decided to close the store in 2016, I launched an online boutique called KAYDA. I had a decade of small business experience to lean on, and I still made lots of mistakes.
Here are 3 things I wish I had known before starting my retail business. If you're considering starting your own small business, whether it's brick-and-mortar, online, or both—these are imperative to understand. It isn't my nature to sugarcoat things, so this may seem like unconventional advice to some, but it reflects what I believe is true!
1. You really do need to spend (some) money to make money.
Sad but true. This piece of conventional wisdom applies to many areas of retail. Here is one example.
In my opinion, you must invest in digital marketing, AKA ads and SEO. Unfortunately for most, the odds are that your business has tons of competition. KAYDA certainly wasn't the only website with unique accessories for sale! If thousands of similar businesses are investing in Google and Facebook marketing but you're not, your business might be left in the dust. You will have to rely on word of mouth, organic digital activity, and human recommendations to market your business, which is not likely not enough to hit your business goals.
With my second retail business, I pay closer attention to my site's SEO and I dedicate some money to digital ads each month. The sales that come from doing this, pay for it.
2. Done is better than perfect.
I know some of you will read that statement and protest, and as a perfectionist, I understand. While organization and attention to detail are essential qualities for business owners, as they say, too much of anything can be bad. If you wait for the "right" timing, "right" bank account balance, or any other "right" set of circumstances, your business will never get off the ground.
I was too concerned with KAYDA's branding at the beginning. I delayed my launch because I wanted everything to be perfect. Instead of worrying about colors and logos, I should have used that time to get the right inventory, schedule trunk shows, and start networking.
When developing my second retail business, Kaylie Dawn, I actually changed my logo a month after launching my website because the original wasn't exactly what I had wanted. But going with that first logo marked the task "done" (albeit imperfect), which allowed me to launch everything faster.
When you're just starting out, you may have to change your logo (people probably won't notice), reuse shipping boxes (call it environmentally friendly), or take your own photographs (smartphones take amazing pictures). Don't get so hung up on the details that you're not moving forward!
I take my own product photos!
3. Don't hide behind your computer.
Any brand marketing expert will tell you that consumers buy the person, not the product. Think about it: When we discuss brands or companies, we refer to "them" or "they." It's human nature to personify things; it helps us understand them better. I thought launching an online business would be a simple way to use my computer and retailing skills to make a second income. It was not. In fact, my best sales days were in-person trunk shows—never an online sale or product launch.
This time around, I'm enjoying communicating with my audience on Instagram Reels, scheduling in-person shopping parties, and pitching my jewelry to boutiques. Connecting with like-minded people is not only good for business, but it's also paramount to my enjoyment and well-being!
I'm glad my first retail business failed! Learning from my mistakes prepared me for the next endeavor. Using my failed business as an example, I wanted this post to be personal and thoughtful, not conventional. What do you think of these somewhat-unorthodox bits of advice? If you have any questions or comments, I'd love to hear from you.
Stay golden!
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