A Unique Idea Gets …
“I knew SkinnySongs was a very big idea. I also knew that the theme of someone who had achieved success in one career suddenly doing a 180 and starting something new, especially at the tender age of almost 50, was another topic of current interest.”
… Lots of Great Press
“From my past work as an entrepreneur and venture capitalist, I had many contacts in the press. So I pitched the idea to a few of my journalist friends. One, a writer at Forbes, did the first article and really launched me. That piece gave me credibility to approach health and fitness editors and general interest media, where my contacts were not so strong. I got help through two PR firms, Fifteen Minutes, out of Los Angeles, and Kelly Fogelman Group, out of Marin.”
The Bottom Line
“I will be cash-flow-positive by June, but I don’t expect to pay my startup investment back until later in the year. I watch the budget very carefully with regard to expenses; I travel coach and stay in cheap hotels—that entrepreneurial spirit. However, where I didn’t scrimp was in talent, the production of the CD, and the quality of the graphics and Web site.”
Costs in Perspective
“Relative to a guy recording in his spare bedroom on his Mac, my costs are high. Relative to a record label, my costs are low. World headquarters is my house and I don’t have any employees. I do have some fellow entrepreneurs in a consulting capacity helping me with legal, sales, accounting, and PR.”
Three Lessons
“One, there are free ways to do everything. It sometimes takes longer and requires more elbow grease, but it can be done. Two, find others to do it with you. Figure out what talent you need and how you can get the talent to share in the risk and reward, without necessarily paying them market rate. Three, it’s sometimes better to think small than big. Figure out exactly what you’re trying to accomplish and how big a step you need to take.”
Corporate Exit Strategy
“When you leave the corporate world, have a realistic business plan and stick to it. Do what’s comfortable. Don’t risk something you can’t afford to lose. You may have to build up your savings and work on your business at night when you come home from your other job. Be very scrappy about how you do things.”
Boss Yourself Around
“I had to learn to cordon off time to proactively move my goals forward, not just work reactively. Working from home, I found that there’s always an infinite amount of work to do. I had to learn to put a box around it and step away to spend time with my family, exercise, and those kinds of things. Especially when you’re a one-person start-up, if you don’t do it, it won’t get done. There’s a lot of self-generated pressure on entrepreneurs.”
This Featured Lady was profiled by Andrea Adleman, a Los Angeles freelance journalist.
Photo courtesy of Ladies Who Launch
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