MomBiz: Lisa Price, Owner of Carol's Daughter®
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What were the steps involved to getting it off the ground?
I set up a store environment in my house and I operated organically for a number of years. We didn't open our first store until 1999 and we didn't get a business loan until 2001 and that was to help renovate a warehouse so that we could move some of the business outside our home.
How did Carol's Daughter® get noticed by Halle Berry and other celebrities?
I actually don't know how Halle found out about us initially. She reached out to us to purchase products for Oprah-she was giving her a gift. She heard that Oprah loved Carol's Daughter® or wanted to try it. I don't know how Oprah initially heard about it either [laughs].
Why did you choose Mary J. Blige and Jada Pinkett Smith to be the faces for the brand?
In laymen's terms, they're "spokes-beauties" but they're more investors who lend their images as part of their support. They're such great examples of working hard, and not just "rags to riches," but self-discovery. They're both very open about the demons they've had to deal with in their lives and I think that it's a side of beauty that we don't usually see.
What were some challenges along the way?
I think the best thing I can do for my business is to stay out of my own way: don't let my insecurities be the business' insecurities.
What was the biggest key to your success?
The support I have from my family and the fact that I can go home at the end of the day and have a normal life. I can just be Mom and then come back and do what I have to do.
What's one piece of advice you have for a mom who wants to launch her own business?
To be forgiving of yourself, because you're a mom and that's a hard job. If you think of your business as another one of your children, it makes it a little easier. Don't feel guilty about building something for your future and their futures.
How do you manage work/life balance?
I've given up on balancing it. Something has to suffer for you to take care of something else, because they both need you all the time. My balance is more about finding the moments.
For more information about Lisa Price and Carol's Daughter®, visit www.carolsdaughter.com.