WEBVTT - Community Building 0:00:01.040 --> 0:00:03.720 The views, information, or opinions express during this podcast are 0:00:03.760 --> 0:00:06.120 solely those of the individuals involved and do not represent 0:00:06.160 --> 0:00:08.440 those of intuitt, QuickBooks or any of its cornerstone brands 0:00:08.480 --> 0:00:11.600 or employees. This podcast does not constitute financial, legal, or 0:00:11.600 --> 0:00:14.360 other professional advice or services. No assurance is given that 0:00:14.400 --> 0:00:17.159 the info is comprehensive, accurate, or free of errors, and 0:00:17.200 --> 0:00:20.239 the information presented is for general information purposes only. Into 0:00:20.280 --> 0:00:22.880 It QuickBooks does not have any responsibility for updating or 0:00:22.880 --> 0:00:26.520 revising any information presented. Listeners should verify statements before relying 0:00:26.520 --> 0:00:29.000 on them. QuickBooks Money is a standalone into It offering 0:00:29.040 --> 0:00:31.600 banking services provided by Green Dot Bank member FDIC. 0:00:36.800 --> 0:00:38.960 Hey everyone, I'm Austin Hankwitz. 0:00:38.760 --> 0:00:42.240 And I'm Jennise Torres. Welcome to Mind the Business Small 0:00:42.280 --> 0:00:45.600 Business Success Stories, a podcast brought to you by Intowit, 0:00:45.720 --> 0:00:50.680 QuickBooks and iHeartRadio's Ruby Studio. In each episode, Austin and 0:00:50.720 --> 0:00:53.519 I chat with small business owners as they share their 0:00:53.560 --> 0:00:57.040 stories about the ups and downs of owning a small business. 0:00:57.640 --> 0:01:00.680 That's right, Jenise, and I'm really excited to talk to 0:01:00.800 --> 0:01:03.680 this episode's guests. But before we do that, let me 0:01:03.720 --> 0:01:06.399 ask you. We've both traveled a lot. I know you 0:01:06.760 --> 0:01:09.240 just got back from New York, which was really exciting, 0:01:09.520 --> 0:01:11.319 and being an entrepreneur, we both have a little bit 0:01:11.360 --> 0:01:14.240 of freedom as it relates to scheduling our trips. So 0:01:14.440 --> 0:01:17.679 do you prefer to go on vacation and travel with 0:01:17.760 --> 0:01:19.480 a group or by yourself? 0:01:20.160 --> 0:01:22.480 I think there's a time and place for both. I 0:01:22.640 --> 0:01:25.360 like the group travel. I like traveling with my family 0:01:25.400 --> 0:01:29.200 and friends. But I also have been very intentional about 0:01:29.280 --> 0:01:34.400 doing quarterly retreats as a solopreneur, and these are solo retreats, 0:01:34.480 --> 0:01:37.360 so it's kind of my time to reset, plan for 0:01:37.400 --> 0:01:40.199 the next quarter and just really give myself a break 0:01:40.200 --> 0:01:43.319 from all the responsibilities that come with owning a business. 0:01:43.600 --> 0:01:46.200 Mmm. I like that a lot, kind of giving yourself 0:01:46.200 --> 0:01:49.400 the opportunity to reflect upon the last couple months here 0:01:49.880 --> 0:01:52.880 and build the business that you know you're doing a 0:01:52.920 --> 0:01:56.160 really good job of building. So you mentioned traveling solo 0:01:56.240 --> 0:01:58.720 and doing that on a quarterly basis here, but it's 0:01:58.760 --> 0:02:01.360 important to remember you're not ever really alone, right. You 0:02:01.400 --> 0:02:04.760 still need that Uber driver, you still need the airplane pilot, 0:02:04.800 --> 0:02:07.960 the hotel employees, or even just the random people you 0:02:08.000 --> 0:02:10.160 meet at the coffee shops that are helping you out 0:02:10.240 --> 0:02:12.440 and allowing you to have a good time, which is 0:02:12.560 --> 0:02:15.760 just like when you're a solopreneur. No matter what industry 0:02:15.840 --> 0:02:18.680 your enterprise falls into, you still need to have some 0:02:18.800 --> 0:02:22.680 people in your corner, whether they're other founders with more experience, 0:02:22.880 --> 0:02:25.280 or mentors that can help you out with business, or 0:02:25.320 --> 0:02:28.799 even people that can guide you through the intricate paperwork 0:02:28.919 --> 0:02:32.240 side of things. I've personally had a lot of intricate 0:02:32.280 --> 0:02:35.720 paperwork come my way now that we are navigating tax season, 0:02:35.760 --> 0:02:38.240 which is why I think QuickBooks Live is such an 0:02:38.280 --> 0:02:42.040 instrumental tool in helping people build their businesses. Now with 0:02:42.120 --> 0:02:45.760 QuickBooks Live, you'll have access to expert bookkeepers who will 0:02:45.880 --> 0:02:48.480 help you keep your books organized and balanced. 0:02:49.080 --> 0:02:51.920 And who doesn't need that, honestly, because when you're a 0:02:51.960 --> 0:02:55.000 solopreneur with a good team, you basically get the best 0:02:55.000 --> 0:02:58.120 of both worlds. You run your own show, but you 0:02:58.160 --> 0:03:00.639 still get live experts helping you achieve success. 0:03:01.040 --> 0:03:04.480 Lloyd knows I need that same. 0:03:04.400 --> 0:03:06.840 Oh my gosh, you know. It's just you got to 0:03:06.880 --> 0:03:09.880 be able to not always try to be the smartest 0:03:09.880 --> 0:03:11.960 person in the room. And I think as a solopreneur, 0:03:12.040 --> 0:03:15.079 I've gotten really good at just knowing where my limitations lie, 0:03:15.320 --> 0:03:17.800 not trying to DII why my way to success in 0:03:17.880 --> 0:03:20.680 areas where I just don't have the expertise, and really 0:03:21.000 --> 0:03:24.720 knowing and getting good at relying on my community to 0:03:24.800 --> 0:03:29.440 source potential, you know, connections or new ideas that I 0:03:29.480 --> 0:03:30.200 didn't even think. 0:03:30.120 --> 0:03:32.720 About one hundred percent, right, is like, wait a second, 0:03:32.960 --> 0:03:35.120 I need to start caring about bookkeeping. I need to 0:03:35.160 --> 0:03:38.160 start caring about taxes and payroll and things like that. 0:03:38.240 --> 0:03:39.840 So what did I do. I've reached out to my 0:03:39.960 --> 0:03:43.000 community of other solopreneurs and content creators to see what 0:03:43.080 --> 0:03:46.000 they were doing right. And being able to lean on 0:03:46.040 --> 0:03:48.240 your community when you have these types of problems, as 0:03:48.240 --> 0:03:50.840 well as provide feedback to other people when they have 0:03:50.960 --> 0:03:53.600 problems is probably one of the most rewarding things that 0:03:53.680 --> 0:03:55.200 comes from being a solopreneur. 0:03:55.800 --> 0:03:59.760 Absolutely. I think it's also really important as someone who 0:03:59.880 --> 0:04:02.640 is hyper independent, right, And I'd like to say it's 0:04:03.080 --> 0:04:05.800 the trauma response of being an eldest daughter and just 0:04:06.400 --> 0:04:09.800 not wanting to ask for help. But one of the 0:04:09.840 --> 0:04:13.480 things that I've learned in entrepreneurship is how critical it 0:04:13.720 --> 0:04:17.280 is to have a sounding board that community. I think 0:04:17.320 --> 0:04:20.000 about it a specific example where I got my first, 0:04:20.000 --> 0:04:24.680 like multiple five figure influencer marketing brand deal, and I 0:04:24.800 --> 0:04:27.640 was just like, I don't feel qualified to read these 0:04:27.720 --> 0:04:31.080 legal contracts and I don't feel comfortable signing my life 0:04:31.120 --> 0:04:34.719 away potentially, And so I called my mentor and I'm like, 0:04:34.760 --> 0:04:36.600 do you have anybody who can help me with this? 0:04:37.120 --> 0:04:39.840 And she actually introduced me to her agent, who now 0:04:39.880 --> 0:04:43.920 manages my own partnerships too. And so it's just the 0:04:43.960 --> 0:04:46.080 power of community is something that I don't think we 0:04:46.120 --> 0:04:50.680 can emphasize enough because unless you're in this world of entrepreneurship, 0:04:50.960 --> 0:04:53.480 most people around you are not even going to know how. 0:04:53.320 --> 0:04:56.320 To help you one hundred percent. And I just want 0:04:56.320 --> 0:04:58.800 to also hammer home the idea that at least this 0:04:58.839 --> 0:05:00.760 has been my experience and I'm sure it's been yours 0:05:00.800 --> 0:05:03.880 as well, Janie, but like people are really excited to 0:05:04.000 --> 0:05:07.880 meet other people who are solopreneurs or building small businesses. Right, 0:05:08.360 --> 0:05:11.039 everyone believes that it's not a zero sum game. We 0:05:11.080 --> 0:05:14.159 can all win together. And by me sharing with you 0:05:14.240 --> 0:05:16.960 a tool or a resource, right, your mentor introducing you 0:05:17.000 --> 0:05:19.880 to her agent didn't mean that you're taking anything from her. 0:05:20.200 --> 0:05:22.000 I mean, we're all here to help each other. And 0:05:22.000 --> 0:05:24.719 I think that's such a big, big, big thing for 0:05:24.839 --> 0:05:27.839 solopreneurs to understand as they build their business. Right, It's 0:05:27.880 --> 0:05:30.520 not a zero sum game and we can all win together. 0:05:31.080 --> 0:05:35.480 Absolutely. With that being said, let's meet our next guest. 0:05:40.440 --> 0:05:43.360 Sierra Monti May is an entrepreneur based out of New 0:05:43.440 --> 0:05:46.960 York City. After suffering from one too many itchy scalps 0:05:47.000 --> 0:05:51.240 while wearing her favorite protective styles, Sierra realized she deserved 0:05:51.240 --> 0:05:53.600 better and set out on a mission to find it 0:05:53.640 --> 0:05:56.719 for all of us. And when she couldn't find any 0:05:56.800 --> 0:06:00.880 quality sustainable hair extension products, she decided to make her own. 0:06:01.360 --> 0:06:05.920 Siara founded the first ever plant based faux hair brand, Rebundle. 0:06:06.360 --> 0:06:08.920 In twenty twenty. She left her fintech job to pursue 0:06:08.960 --> 0:06:12.400 Rebundle full time. She launched her first product, bread Better, 0:06:12.480 --> 0:06:15.520 in twenty twenty one, and has since relaunched as a 0:06:15.560 --> 0:06:19.000 direct to consumer brand and raised two point five million 0:06:19.040 --> 0:06:23.760 dollars in seed money. Siera is passionate about providing quality products, 0:06:24.200 --> 0:06:27.919 building a better Earth, and about the importance of black 0:06:27.960 --> 0:06:33.320 women being cared for. Siera, Welcome to the show. 0:06:33.960 --> 0:06:35.120 Thank you, thanks for having me. 0:06:35.839 --> 0:06:38.560 I first of all, love the name Rebundle. Can you 0:06:38.560 --> 0:06:39.720 tell us the story behind it. 0:06:40.400 --> 0:06:42.440 Yes, it's a short one because I didn't come up 0:06:42.480 --> 0:06:45.159 with the name myself, and I actually wasn't sold on 0:06:45.200 --> 0:06:47.200 it at first. I didn't think it made sense for 0:06:47.240 --> 0:06:48.480 what I thought we were going to be doing at 0:06:48.480 --> 0:06:50.919 the time, but it was really catchy, so we stuck 0:06:50.960 --> 0:06:52.680 with it and we've grown into the name. 0:06:53.279 --> 0:06:56.279 Yeah. I love that that it's not necessarily the first 0:06:56.320 --> 0:06:58.680 idea that would come to your head. But when did 0:06:58.680 --> 0:07:01.159 you know that this was the name that you wanted 0:07:01.160 --> 0:07:04.000 to continue with, Like, what was that sign? Well? 0:07:04.279 --> 0:07:09.600 I would sometimes feel not connected to the name rebundle 0:07:09.760 --> 0:07:14.160 in those early days because the word bundle, in as 0:07:14.200 --> 0:07:16.680 it relates to hair and pertains to hair, is a 0:07:16.680 --> 0:07:21.760 colloquialism for human hair bundles, and I was squarely focused 0:07:21.800 --> 0:07:26.000 on creating an alternative to synthetic hair, so I didn't 0:07:26.000 --> 0:07:29.160 think it made sense in the context. But as the 0:07:29.440 --> 0:07:33.160 product evolved and the brand evolved, it did make sense 0:07:33.240 --> 0:07:38.000 because we started calling our products bundles rather than packs, 0:07:38.080 --> 0:07:42.120 because we're providing a more luxurious experience and elevated experience, 0:07:42.640 --> 0:07:45.640 and I wanted to disassociate from packs that are, you know, 0:07:45.680 --> 0:07:49.200 anywhere from a dollar to eight dollars, something more premium, 0:07:49.240 --> 0:07:51.720 like what we pay for human hair extensions. So it 0:07:51.760 --> 0:07:54.800 started to make sense to me then, and I was like, oh, okay, 0:07:54.880 --> 0:07:56.560 well we can we can keep I mean, we had 0:07:56.600 --> 0:07:58.160 already spent so much on the branding at that point, 0:07:58.200 --> 0:07:59.680 but I always had a nagging thought in the back 0:07:59.720 --> 0:08:02.640 of mind, like someone's gonna call out that it doesn't 0:08:02.680 --> 0:08:05.840 make sense to call it bundles. And then no one 0:08:05.880 --> 0:08:07.960 ever did because we started moving in that direction. 0:08:09.040 --> 0:08:11.400 You have to believe it before anybody else does, right, 0:08:11.480 --> 0:08:13.440 So I think it's part of just the importance of 0:08:13.480 --> 0:08:16.040 having conviction when you're putting yourself out there as an 0:08:16.120 --> 0:08:17.200 entrepreneur and as a brand. 0:08:17.480 --> 0:08:18.840 Yeah, that's exactly what happened. 0:08:19.200 --> 0:08:21.600 Yeah, I love that. Okay, So have you always been 0:08:21.600 --> 0:08:24.000 into like sustainability in the environment. 0:08:24.240 --> 0:08:27.920 In a way, I can say that for as long 0:08:27.960 --> 0:08:31.600 as I can remember, I've always had an inkling or 0:08:31.640 --> 0:08:35.920 a desire to learn more about sustainability and what it 0:08:35.960 --> 0:08:41.160 looks like, and just curious about how my presence on 0:08:41.240 --> 0:08:44.280 Earth impacts the environment and the well being of the 0:08:44.360 --> 0:08:48.679 environment in ways that I could mitigate, mitigate my individual contribution. 0:08:49.480 --> 0:08:54.280 And I've always been very encouraging to other people at 0:08:54.280 --> 0:08:58.000 the bare minimum, recycle and recycling really is the bare minimum, 0:08:58.360 --> 0:09:00.960 And that was all that I knew of until I 0:09:01.000 --> 0:09:04.880 started grad school. I went to USC and studied social entrepreneurship, 0:09:04.880 --> 0:09:07.280 and I was just exposed to one a totally different 0:09:07.320 --> 0:09:10.719 lifestyle in Los Angeles compared to the Midwest where I 0:09:10.760 --> 0:09:15.280 grew up. But the projects that my classmates were working 0:09:15.320 --> 0:09:19.400 on also exposed me to different types of sustainability and 0:09:19.440 --> 0:09:23.199 just expanded that definition for me. So I took those 0:09:23.280 --> 0:09:25.959 learnings and started to apply them to my own life 0:09:26.000 --> 0:09:30.760 and got more curious about the movement for sustainability and 0:09:30.800 --> 0:09:35.160 the zero waste lifestyle and content that was being created 0:09:35.400 --> 0:09:41.079 around environmental justice and intersectional environmentalism. Just all these concepts 0:09:41.080 --> 0:09:43.800 that I was learning about that really resonated with me 0:09:44.520 --> 0:09:48.960 and then subsequently translated into the products that I was 0:09:49.040 --> 0:09:52.240 using and am familiar with. And hair just made the 0:09:52.320 --> 0:09:54.520 list because it was part of my life and my 0:09:54.640 --> 0:09:55.760 identity at that time. 0:09:56.400 --> 0:09:59.000 That's brilliant. It's I think it's a good example of 0:09:59.040 --> 0:10:01.240 just like how your environment and can influence you as 0:10:01.240 --> 0:10:04.040 an entrepreneur, and how the community that you surround yourself 0:10:04.120 --> 0:10:06.760 with can have a direct impact on what that business 0:10:06.760 --> 0:10:10.280 turns into. So I'm curious for you, when did you 0:10:10.360 --> 0:10:12.840 realize that there was a market for this that wasn't 0:10:12.880 --> 0:10:13.760 being fulfilled. 0:10:14.520 --> 0:10:17.400 The summer of twenty nineteen, so I was working at 0:10:17.720 --> 0:10:22.240 an HBCU and was wearing braids really often because I 0:10:22.280 --> 0:10:24.200 was trying to figure out how to be an adult 0:10:24.240 --> 0:10:28.480 and go to work on time and minimize my morning routine. 0:10:29.080 --> 0:10:32.600 So at this very same time that I was learning 0:10:32.600 --> 0:10:37.000 more about sustainability, I was having issues with scalp irritation 0:10:37.120 --> 0:10:40.400 from the hair and just had this sort of aha 0:10:40.480 --> 0:10:44.640 moment that maybe there was something more that could be 0:10:45.480 --> 0:10:49.520 done about the way synthetic hare is disposed of. And 0:10:49.559 --> 0:10:52.200 then that meant understanding, well what is it made out of? 0:10:52.679 --> 0:10:56.280 And that brought up all this stuff about synthetic hair 0:10:56.480 --> 0:11:00.640 being plastic. And I think at this time twenty nineteen, 0:11:01.640 --> 0:11:06.240 somebody had just passed a law or some regulation change 0:11:06.240 --> 0:11:09.560 that we couldn't ship our trash to China anymore, and 0:11:09.600 --> 0:11:12.520 all these things that was coming up about the world 0:11:12.880 --> 0:11:16.640 changing and responding to climate change, and I'm just sitting 0:11:16.640 --> 0:11:20.280 here scratching my head and like, well, this is a 0:11:20.280 --> 0:11:23.120 plastic product that is probably not on anyone's radar and 0:11:23.160 --> 0:11:25.640 could use innovation like everything else. 0:11:26.320 --> 0:11:28.600 It's kind of amazing that this all came together the 0:11:28.600 --> 0:11:30.920 way it did because you built something that falls in 0:11:31.080 --> 0:11:34.960 line with your values of sustainability and also is providing 0:11:35.000 --> 0:11:38.679 a solution to scalp irritation when people get synthetic extensions, 0:11:39.080 --> 0:11:41.960 And just for those listening who may not know, oftentimes, 0:11:41.960 --> 0:11:44.600 when people get extensions in a form like braids, like 0:11:44.640 --> 0:11:47.240 you mentioned, you can use human hair, which costs a 0:11:47.280 --> 0:11:49.840 lot more money, or you can use synthetic hare, which 0:11:49.880 --> 0:11:52.640 is more popular because the lower costs and higher access, 0:11:53.040 --> 0:11:55.280 but the quality is not as good as human hair. 0:11:55.800 --> 0:12:01.079 Yeah, I remember being really excited about this question of 0:12:01.400 --> 0:12:05.000 if it's plastic, can it be recycled, which I then 0:12:05.160 --> 0:12:09.560 learned that all plastics are technically recyclable, but it's dependent 0:12:09.600 --> 0:12:12.680 on the municipality and what they want what they don't want. 0:12:12.920 --> 0:12:15.560 Hair was likely never going to make the list, but 0:12:15.600 --> 0:12:18.559 I wanted to know for the heart to recycle plastics 0:12:18.640 --> 0:12:21.160 like synthetic hair, you know, where could you send it 0:12:21.320 --> 0:12:24.559 for it to be properly disposed of? And there were 0:12:24.600 --> 0:12:28.720 not any initiatives that were focused on this waststream in 0:12:28.760 --> 0:12:33.240 particular because it's a product that's predominantly used and worn 0:12:33.320 --> 0:12:36.160 by black women. So I knew that if I wanted 0:12:36.200 --> 0:12:38.240 to find a way to sustainably dispose of it, I 0:12:38.280 --> 0:12:40.440 was probably going to have to create it myself, because 0:12:40.480 --> 0:12:43.840 nobody was looking at this waste stream as one that 0:12:43.880 --> 0:12:49.079 needed attention. So the recycling program was developed and has 0:12:49.120 --> 0:12:52.400 since been maintained as a way for people to choose 0:12:52.400 --> 0:12:56.160 sustainability no matter where they are in their journeys, and 0:12:56.200 --> 0:12:59.920 to help mitigate some of the waste that's created by 0:13:00.080 --> 0:13:01.240 this industry. Overall. 0:13:01.880 --> 0:13:05.040 I love that. I think it's so powerful, and I 0:13:05.080 --> 0:13:07.520 really commend you for sort of building that from scratch. 0:13:08.040 --> 0:13:12.160 You talked about studying entrepreneurship in school, and you know, 0:13:12.240 --> 0:13:14.360 I studied a little bit of entrepreneurship. I think I 0:13:14.360 --> 0:13:16.680 took a couple classes in college myself, But I don't 0:13:16.679 --> 0:13:20.680 think school really prepares you for entrepreneurship, right, So were 0:13:20.679 --> 0:13:23.800 there maybe challenges that school did prepare you for versus 0:13:24.160 --> 0:13:27.000 have anything you know blindsided you? You've phraised two point 0:13:27.080 --> 0:13:29.320 one million dollars. I don't remember learning how to do 0:13:29.360 --> 0:13:30.000 that in school. 0:13:30.120 --> 0:13:31.640 I didn't learn how to do that in school either, 0:13:31.679 --> 0:13:33.800 And I've actually raised two and a half million dollars 0:13:33.840 --> 0:13:35.000 since twenty twenty one. 0:13:35.360 --> 0:13:37.840 Two and a half. Okay, I stand corrected. 0:13:38.000 --> 0:13:41.840 But I think that the only thing that can teach 0:13:41.880 --> 0:13:43.520 you how to be an entrepreneur is to be one 0:13:43.520 --> 0:13:45.800 and to like be in the thick of it. But 0:13:45.880 --> 0:13:49.400 what I was grateful for in both undergrad and grad 0:13:49.520 --> 0:13:54.000 was to help develop my entrepreneurial mindset and to give 0:13:54.040 --> 0:13:57.920 me the right community who were also working on challenging 0:13:57.960 --> 0:14:01.480 problems and starting things from scratch. Also helped with the 0:14:01.640 --> 0:14:07.280 vocabulary and certain concepts and practices that I didn't know beforehand. 0:14:07.920 --> 0:14:10.760 And it was interesting and I didn't know I could 0:14:10.760 --> 0:14:13.080 make a career out of it before I started school, 0:14:13.320 --> 0:14:14.920 So I feel like I got a lot of that. 0:14:15.040 --> 0:14:18.600 And I do find that people who are just starting 0:14:18.600 --> 0:14:22.560 out and didn't study entrepreneurship in school are like starting 0:14:22.560 --> 0:14:23.120 from scratch. 0:14:24.120 --> 0:14:27.720 You mentioned something really important, which was community. When you're 0:14:27.720 --> 0:14:30.200 in school, you're surrounded by other people who are excited 0:14:30.240 --> 0:14:34.120 about entrepreneurship. I'm curious how that community has followed you 0:14:34.200 --> 0:14:37.440 outside of school. Have you leaned on them at all 0:14:37.440 --> 0:14:39.880 with different problems over the past few years. 0:14:40.400 --> 0:14:42.720 Yeah, I would say yes to all of the above. 0:14:42.960 --> 0:14:45.600 There are definitely people that I met in undergrad that 0:14:45.640 --> 0:14:50.760 I've gone back to, whether that be professors or students alike, 0:14:51.240 --> 0:14:54.200 that I've been able to go back to for questions 0:14:54.280 --> 0:14:58.960 or feedback, support, introductions, etc. And then following me from 0:14:59.240 --> 0:15:03.080 undergrad all the way way through my fellowship with VFA, 0:15:03.120 --> 0:15:05.360 I'm friends with a lot of those fellows, some that 0:15:05.400 --> 0:15:08.760 have started businesses and some that work at startups. So 0:15:08.920 --> 0:15:12.440 I think there are different communities within those communities that 0:15:12.480 --> 0:15:16.280 I can leverage for different purposes that you know, I've 0:15:16.320 --> 0:15:19.240 helped in ways that I can't even begin to recall, 0:15:19.320 --> 0:15:22.640 even if it's an intro or just an ear. Things 0:15:22.720 --> 0:15:24.680 just come up. Things just happen for you when you 0:15:25.000 --> 0:15:28.520 when you expand your network with people that are interested 0:15:28.520 --> 0:15:30.040 in some of the same things that you are, whether 0:15:30.040 --> 0:15:31.360 you're following the same path or not. 0:15:32.040 --> 0:15:34.800 Most definitely, and you know, speaking of expanding your network 0:15:34.800 --> 0:15:37.800 of people interested in the same things, you know you 0:15:37.880 --> 0:15:41.320 are definitely a part of this environmentalist community as well 0:15:41.360 --> 0:15:45.080 as now the entrepreneurial community. So maybe can you double 0:15:45.080 --> 0:15:49.960 click on how you're expanding your network with keeping school 0:15:50.120 --> 0:15:52.840 in college away for a second, but like post college 0:15:53.040 --> 0:15:55.240 and post schooling, how have you been able to expand 0:15:55.280 --> 0:15:59.720 your network of other environmentalists or other just entrepreneurs in 0:15:59.760 --> 0:16:01.400 your surrounding area. 0:16:01.560 --> 0:16:05.360 So it's a pretty tight knit community, and many of them, 0:16:05.640 --> 0:16:07.680 you know, you meet one and then they introduce you 0:16:07.960 --> 0:16:10.880 to another person in their community, and even if that 0:16:11.080 --> 0:16:13.360 one on one connection doesn't happen, I also get to 0:16:13.400 --> 0:16:15.160 see who's a part of their community. So I was 0:16:15.200 --> 0:16:18.000 finding a lot of people that were involved in the 0:16:18.080 --> 0:16:22.400 environmentalist movement from creators that I was following and entrepreneurs 0:16:22.440 --> 0:16:24.400 that I was following, and she exposed me to people 0:16:24.880 --> 0:16:27.040 who were like minded and were doing, you know, their 0:16:27.040 --> 0:16:30.360 own thing. I would say. Another good example is I 0:16:30.560 --> 0:16:36.080 was asked to mentor in the Times of Main incubator program. 0:16:36.200 --> 0:16:40.400 So there were both mentors like myself who had some 0:16:40.800 --> 0:16:46.160 level of involvement in environmentalism and then activists who as 0:16:46.240 --> 0:16:50.920 another layer of people involved in the environmentalism movement. And 0:16:51.000 --> 0:16:55.200 so one of the other mentors posted about an event 0:16:55.520 --> 0:16:58.560 happening here in New York tomorrow, So I'm going to 0:16:58.600 --> 0:17:01.200 go to that, So who knows who all while meet there, 0:17:01.240 --> 0:17:04.680 But you know, just capping in with people following their 0:17:04.720 --> 0:17:09.160 work and networking not always vertically, but also be horizontal, 0:17:09.240 --> 0:17:12.920 like people that are working at different level different stages 0:17:12.960 --> 0:17:15.399 that you know are still maybe on the ground level 0:17:15.920 --> 0:17:16.680 one hundred percent. 0:17:16.960 --> 0:17:20.240 You know, being the founder of such an innovative business 0:17:20.320 --> 0:17:22.919 means that you have to really use every part of 0:17:22.960 --> 0:17:25.760 your brand, which means the logistical side of running the 0:17:25.800 --> 0:17:29.600 business every day as well as the creative side. So, Sierra, 0:17:29.640 --> 0:17:32.639 do you have any strategies for keeping your books balanced 0:17:32.880 --> 0:17:36.040 while using community connections and networking to raise money and 0:17:36.080 --> 0:17:37.879 crew your business at the same time. 0:17:38.560 --> 0:17:41.440 First, you need a good bookkeeper. I really love the 0:17:41.480 --> 0:17:45.520 bookkeeping team that we have. What they have really impressed 0:17:45.520 --> 0:17:47.919 me with is they built us a financial dashboard that 0:17:48.320 --> 0:17:52.840 lists all of our spending in and out. We have 0:17:52.920 --> 0:17:57.640 budget templates and all the sales are linked to transactions 0:17:57.680 --> 0:17:59.760 in quick books, so I can always see in real 0:17:59.800 --> 0:18:03.080 time time how far or how close we are to 0:18:03.320 --> 0:18:06.199 being on budget. So I would say that has been 0:18:06.680 --> 0:18:11.760 a really monumental process that we've implemented. It really gives 0:18:11.800 --> 0:18:15.520 me peace of mind. And that was a connection that 0:18:15.640 --> 0:18:19.120 I had made through someone else who I knew through 0:18:19.119 --> 0:18:20.880 someone else who I knew through someone else. 0:18:21.160 --> 0:18:22.400 It's that mental rolodex. 0:18:22.480 --> 0:18:24.960 I mean, come on now, Yeah, it goes back deep, 0:18:27.080 --> 0:18:29.679 coming up after the break. The only way we're going 0:18:29.680 --> 0:18:32.920 to grow is by serving this community and serving them well. 0:18:33.000 --> 0:18:35.200 So I want to give them the opportunity to help 0:18:35.400 --> 0:18:39.200 guide our product development roadmap. With a few dollars we have. 0:18:40.119 --> 0:18:51.400 We'll be right back with Mine the Business. Welcome back 0:18:51.440 --> 0:18:55.200 to Mind the Business, Small business success stories from iHeartMedia's 0:18:55.280 --> 0:19:00.760 Ruby Studio and Into It QuickBooks. So, Sierra, you've spoken 0:19:00.800 --> 0:19:04.240 in interviews about the challenges of being a black business owner, 0:19:04.240 --> 0:19:07.720 and as an entrepreneur coach myself, I know very well 0:19:07.760 --> 0:19:10.720 the statistics do not favor people of color, especially when 0:19:10.720 --> 0:19:13.800 it comes to raising capital and funding. Can you talk 0:19:13.840 --> 0:19:16.119 about what have been some of the challenges that you've 0:19:16.119 --> 0:19:18.600 faced in your journey and do you have any examples 0:19:18.640 --> 0:19:21.920 of where your community has come in to overcome them 0:19:22.000 --> 0:19:23.160 or to help you overcome them. 0:19:23.600 --> 0:19:25.919 I'll start with that one. So with the product like 0:19:25.960 --> 0:19:31.119 hours that is predominantly used by black women and people 0:19:31.119 --> 0:19:34.440 of color in general who wear braids, I would say 0:19:34.440 --> 0:19:36.840 I don't have to spend as much time explaining or 0:19:36.920 --> 0:19:40.480 convincing them that this problem exists and that the solution 0:19:40.640 --> 0:19:43.280 should also exist, and so I get a lot of 0:19:43.960 --> 0:19:47.720 excitement when I tell people within our community about what 0:19:47.720 --> 0:19:50.440 we're doing, and you know, they want to refer their 0:19:50.440 --> 0:19:53.960 friends and their co workers, their family members who identify 0:19:54.119 --> 0:19:57.240 with this issue. On average, one in three wearers are 0:19:57.240 --> 0:19:59.560 going to experience scalp rotation while wearing braids. So if 0:19:59.560 --> 0:20:02.360 I'm talking to someone who looks like me, if they 0:20:02.400 --> 0:20:05.439 themselves are not prone to scalp rotation, they know someone 0:20:05.480 --> 0:20:08.320 else that is. And so we've been able to leverage 0:20:08.320 --> 0:20:11.920 word of mouth in that regard. But with that has 0:20:12.000 --> 0:20:16.960 come challenges on the funding side and the storytelling side 0:20:17.080 --> 0:20:21.320 of making a compelling case for this problem that we're 0:20:21.320 --> 0:20:24.720 solving in the solution that we've developed, because there's very 0:20:24.760 --> 0:20:29.639 limited data that exists around consumer behavior in this category 0:20:30.480 --> 0:20:34.560 spend in terms of how the market is segmented players 0:20:34.600 --> 0:20:37.800 along the value chain. These are privately held companies whose 0:20:37.880 --> 0:20:41.439 data is not made public, So we're making assumptions and 0:20:42.200 --> 0:20:45.080 educated guesses based on the data that we can find. 0:20:45.600 --> 0:20:50.320 And venture capitalists are data driven. They make decisions based 0:20:50.359 --> 0:20:54.119 on biases that they see in their portfolio, but also 0:20:54.400 --> 0:20:58.520 readily available data that helps drive their investment decisions. So 0:20:59.040 --> 0:21:01.840 that's two things that I can't always provide in a 0:21:02.000 --> 0:21:06.000 very astute manner because it doesn't exist. So when I 0:21:06.040 --> 0:21:09.720 get frustrated, I find myself saying, like, what you're asking 0:21:09.720 --> 0:21:10.680 me for does not exist. 0:21:10.720 --> 0:21:11.800 It literally doesn't exist. 0:21:12.160 --> 0:21:14.919 Here's what I can tell you. And so having to 0:21:16.119 --> 0:21:19.480 give really thoughtful answers while also being candidate that we're 0:21:19.480 --> 0:21:22.639 building in a white space, and we know that there's 0:21:22.960 --> 0:21:26.680 money flowing through here because that much is available online, 0:21:26.720 --> 0:21:28.960 but some of the more nitty gritty details that are 0:21:29.320 --> 0:21:33.240 more readily available through consumer research is not quite there 0:21:33.440 --> 0:21:35.320 for hair extensions today. 0:21:35.800 --> 0:21:38.240 Well that makes sense, right, because it really depends on 0:21:38.280 --> 0:21:40.280 who's doing the research and who they're talking to, and 0:21:40.280 --> 0:21:42.600 a lot of this information can be very anecdotal, and 0:21:42.640 --> 0:21:45.600 it's not something that you'd necessarily have a pie chart 0:21:45.640 --> 0:21:48.600 that you can go and reference to. So it makes 0:21:48.640 --> 0:21:50.920 sense why you'd have those challenges. There was a recent 0:21:50.960 --> 0:21:53.840