Lessons for Success on a Shoestring
By Judi Henderson-Townsend, past PBWC Board member
Judi's Two Cents:
Find your passion.
Embrace technology.
Create newsworthiness.
Don’t take it personally.
After reading Rich Dad, Poor Dad, I was inspired by the theme of having multiple revenue streams. I was making a nice salary at a dot com, but the company was having financial trouble and the book made me realize I should have a second source of income.
With a vague concept in mind, I enrolled in a business planning class at the San Francisco Entrepreneur Center. I quickly realized the concept was not going to be profitable, and while I was grateful that the education helped me avoid a costly mistake, I was left with the feeling that entrepreneurship wasn’t for me.
Three months later, I was surfing online and saw a posting for a mannequin for sale. I always wanted a mannequin for a garden art project. The seller had the only mannequin rental company in town and was leaving the state and selling his inventory of 50 mannequins. I had never heard about mannequin rental companies and had never worked in retail, but the idea intrigued me. I bought his inventory and started a part-time rental business from my home.
When 9/11 happened nine months later, my employer folded and the economy was in decline. I originally intended to run the business part-time but decided to become a full-time "mannequin lady." Today, I have an inventory of more than 1,500 mannequins (and growing) and I rent and sell them to customers all over the country. I’m a PowerSeller on eBay and plan to open additional offices throughout the country. I’ve taken the road less traveled, and here are some valuable lessons I’ve learned along the way:
Lesson 1 - Find Your Passion: Passion is a powerful, intangible asset for every business owner.
Lesson 2 - Embrace Technology: Technology puts small business owners on a more even playing field with large companies.
Lesson 3 - Create newsworthiness: I didn’t have money for advertising when I started my company, so I relied on media coverage and grassroots marketing to raise visibility.
Lesson 4 - Don’t take it personally.
To start my business I had to go outside my comfort zone to learn about the industry and find clients. I went to a lot of trade organizations and business meetings where no one looked like me in terms of color or age and sometimes there were only a handful of females. Plus, sometimes I had to deal the stigma some people hold about an Oakland-based business.
To be successful I’ve had to get past my fear of being around people who were different. The experience has helped me learn and build a sense of community. The key is being open to possibilities. It’s about breaking down artificial boundaries about what other people are going to be like and not being afraid to go to places where there are new communities, new ethnic groups. Now I have customers from every segment of society - all ages, ethnic groups and races, income and educational levels and sexual orientations.
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Past PBWC Board member Judi Henderson-Townsend owns Mannequin Madness www.mannequinmadness.com, the only mannequin liquidation company in Northern California. Mannequin Madness has the perfect body for you to buy or rent for your window, trade-show or special event. Her honors include: 2002 Emerging Entrepreneur of the Year - San Francisco Renaissance Center, the 2003 Special Achievement award from The Environmental Protection Agency; and the 2005 Living History Maker award from Wells Fargo Bank. |
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