BUSINESS ESSENTIALS…GRACE AND GRIT
Kimberly Caccavo and Kate Nowlan are the Co-Founders of GRACEDBYGRIT. We asked them for a little Expert Advice:
What advice would you give to someone who feels overwhelmed by the competition? Athletic apparel is an incredibly competitive space. You have to stay true to what makes your brand unique. We believe that we will succeed because we have made a superior product, hired the smartest people, and offer exceptional customer service.
What top three tips would you like to pass along for those who have just started to use social media? 1: Continually reassess your strategy. 2: Hire an expert or your 14-year-old. 3: Try, try, and try again.
When you think of the best people to work with, what traits do they share? We think the best people to work with are hardworking, honest, kind, have a sense of humor, are open to criticism, have the ability to be critical thinkers, and are constantly reviewing their own skills and abilities.
Give a budding entrepreneur your best hiring and firing business practices. Use a predictive indexto hire people. It’s an amazing tool for finding the right people for the right jobs.
Entrepreneurs often say that “you can’t do it all.” What three things do you always outsource?Public Relations, packing and shipping, and coding for the website.
What business book would you recommend to someone who is either about to launch or in the early growth stage? That is tough. We read books of all types every day. We’re not sure one particular business book is the answer.
What are your thoughts on raising capital? Depends on your business model but for ours, it is essential. We can’t sell a product without inventory and we can’t have inventory without capital.
What piece of invaluable advice did you receive that you would like to pass on to women pursuing their dream? Stop thinking about it and DO IT! But know that it is the hardest thing you will ever do. We live in a world where women try to do it all. It is impossible to do it all. You need to be able to accept that each day will have challenges and it is essential to prioritize. Oh, and caffeine is a must.
Our best advice to a woman launching a venture is… Make sure that you have a strong support team. You need your family to be completely on board. Your kids have to be comfortable with the forgotten lunch, the random pick-up times, and pizza for dinner.
What would your advice to your younger selves be? Embrace your gritty moments; they will be your grace one day. And take time to make the decisions that you are torn about. Sit on it, run it out, and talk it out.
Finally, please share your top five tips that would benefit an entrepreneurial woman launching or growing her business:
- Establish a strong network, and be grateful to those who help you.
- Begin as you intend to continue.
- Don’t be afraid to ask for what you want and need.
- Find GREAT people for your team, including a like-minded partner.
- Laugh at yourself and with your team.