6 Mistakes To Avoid When Starting A New Business
In 2013, I took a chance and started a greeting card line of women of color. I had no business plan, money, or any experience running a business and that left me disheartened ninety percent of the time. Looking back at the challenges I faced starting Mae B, I can see where I went wrong and why I needed those lessons to grow as a business owner and person. Running Mae B has been exciting, draining, and one of the things I am most proud of but starting a company isn't for the faint of heart. Here are six things I've learned on my journey, and I hope they help you jump over some of the hurdles I faced.
6 Mistakes To Avoid When Starting A New Business
1. Growing Too Fast
You'd think this tip would go without saying if you're a budding business owner with limited funding, but too often many of us try to put the cart before the horse — myself included. I did start small, but I was soon comparing my business to other stationery lines that had been in business longer and, to be frank, had more money to invest than me, which led me into thousands of dollars in debt (I'm still paying off). Make one good thing and lead with that. Quality trumps quantity every time.
2. Comparing Your Entrepreneurial Journey To Others
As I said above, I was spending too much time comparing my line to the brands I admired. I would watch them release ten to fifteen new products each season and I'd rush to create new products too. Your business is unique. No one can replicate what you're doing, so don't feel rushed when you see other companies in your industry making strides. You too will make strides as long as you stay true to the reason you started your company in the first place.
3. Not Keeping Track Of Your Spending
When you're just starting, you are likely going to eating a lot of start-up costs. If you don't want to end up in thousands of dollars in debt like I did, set a quarterly budget and stick to it — I mean it! One of the biggest mistakes I made was taking every cent I was making at my full-time gig and investing it without keeping track of my spending.
4. Not Figuring Out What Sets Your Business Apart
One of the things that I always knew I wanted to be known for as I was starting my company was excellent customer service. I have always gone above and beyond for my customers, and I know that is what sets Mae B apart from other brands in the market. Ask yourself what makes your company different and lean into that.
Bianca Lambert/Mae B Online
5. Being Too Afraid To Put Yourself Out There
Whether you're looking for a mentor or want to get your new company into a magazine, you've got to be willing to put yourself out there even if you hear nothing back. My first feature was in Essence Magazine. I was sitting on the couch at one of my best friend's apartment in New York, and said to him, "I want to have Mae B featured in Essence." Next thing I knew, I was buying the magazine at the bodega and flipping through to figure out who I needed to reach out to at the magazine. After some internet snooping, and a little encouragement from Harro — I sent the editorial assistant an email. To my surprise, I got almost an immediate response, and the rest is history. Now, that success story was wonderful, but I've also gotten more no's than yes's, especially as I've been trying to break into the stationery wholesale market. But, every no means that if I don't give up, I will get to a yes. The same applies to you.
6. Not Celebrating Your Wins (No Matter How Small)
Celebrating your wins is key and something I wish I'd done more of in the early years of my entrepreneurial journey. Instead of celebrating my victories, I spent all of my time thinking about what was next and stressing about the no's I was getting or the products I couldn't make to compete with other brands. Don't do it! Every time you get a yes or accomplish something that adds some light into your life, do something nice for yourself. Have a cupcake. Call your best friend. Make your favorite meal. Have a glass of wine. You don't have to light fireworks, but make sure you do something that will bring back a good memory.
Featured image by Getty Images
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Bianca Lambert is a proud Atlanta native soaking up the Los Angeles sun. She is the founder of Mae B: a stationery company for women of color and a digital content creator on a mission to elevate the voices of women of color everywhere.
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Rihanna Talks Shedding Expectations And Finding Balance As A Mother
Since becoming a mother in 2022, Rihanna has defined parenthood by her terms and hopes to pass that sense of autonomy on to her children.
For Vogue China’s April cover story, Rihanna shared her perspective on raising her two sons with A$AP Rocky, and how she hopes to preserve her children’s uniqueness, devoid of societal expectations.
"The most beautiful thing...is that [children] come into the world with their own individuality and sincerity, without any logic or conformity,” she told the publication. “Which usually makes you feel that you must fit into a certain group."
The “Work” artist, known for her trendsetting style and captivating persona, expressed her desire to support children in fully embracing their individuality and encouraging them to be whoever they want to be. "It's really beautiful to see and I want to continue to help them navigate that and make sure that they know they can be whoever they want to be,” she says.
She continues, “They should embrace it completely, because it's beautiful, and it's unique. I love them just that way."
From shattering music charts to shaking up the beauty industry, Rihanna has forged a path that has since created the “dream” life we see today. One that she says has made her parents proud of.
“I’m living my dream,” she continued. “My parents were very proud of that because they just wanted me to be happy and successful. So, I think the key thing is to find some kind of balance. Yes, balance is important. Do this and you get the best of both worlds. You can write your own life the way you want, and it will be beautiful. Sometimes, you just need to let go of everyone’s expectations and start living your own story.”
Rihanna, who shares sons, RZA, 23 months, and Riot, 8 months, with rapper A$AP Rocky, recently shared her vision for expanding her family in the future in Interview Magazine.
When stylist Mel Ottenberg asked about the number of additional children she hoped to have, Rihanna replied, "As many as God wants me to have.”
"I don't know what God wants, but I would go for more than two. I would try for my girl,” she adds. “But of course, if it's another boy, it's another boy."
Featured image by Neil MockfordWireImage