Successful model and businesswoman Caprice Bourret, 35, admits that she was “diving in at the deep end” when she decided to launch her own lingerie company,
ByCaprice, which she finances, designs, models and markets herself. Here are her tips for women hoping to start their own businesses.
#01PUT IN THE HOURS
If you want something in life, you can get it, but you have to put in the hours and be dedicated. I believe that and I’ve seen it happen. I was a model making an absolute fortune and now I own a successful lingerie business and I did it all on my own, without any help or guidance. And that’s because I put in the hours, working 12 hour days and teaching myself. You need to become obsessed and you have to have passion for what you’re doing. If you have all that then you will succeed. It’s discipline, persistence, passion, obsession, educating yourself, all of that.
#02BE OPEN TO CHANGE
With longevity in mind, you have to be open to evolving — my personal and professional goals have changed so much over the years. I made my name as a model and party girl. I lived a fluffy and frivolous existence — it was fabulous. In order to be taken seriously as a businesswoman I had to cut back and stop doing covers in my knickers. And I did. It was one of the hardest decisions of my life but I made it happen and have created
a credible name for myself.
#03KNOW YOUR BUSINESS
Ensure that you know every aspect of your business. I know absolutely everything going on and it’s so important. One of the biggest lessons for me was learning that when it’s not your money you don’t care as much. All the money in this business is my own so I am paying attention and, let me tell you, it pays off. Initially, I was naïve and a bit cocky and I kept shoving money at the business, which is easily done in a small business. I almost ran the business to the ground. Suddenly I realised I had to take control before it was too late and I taught myself immediately. I even know how to do cash flow, I worked with my accountant for six months. It’s the little things you need to keep an eye out for. It’s in the detail, and when it adds up, your margins decrease.
#04HIRE A GOOD TEAM
When hiring a team, look for people who can think on their own. Initiative is very important. I train all my staff personally. Don’t go for cheap, as you’ll only lose money. It pays to pay for smart, qualified people.
#05LEARN TO LEARN FAST
You don’t necessarily need to have a university degree to be a successful entrepreneur — it’s about persistence. I was educated in the school of life but I never felt at a disadvantage. Of course, a college education is a benefit but unfortunately I couldn’t afford it and had to work. Once you’re out there it’s anyone’s game. I can imagine that a school education helps with the admin side — cash flows, margins, etc. I wish I’d known that side, I’ve had to learn it.
#06STRIVE FOR QUALITY
You have to strive for quality in your products and pay attention to all factors within a business, otherwise it falls apart. It’s about longevity and it’s your integrity on the line and customers don’t forget. They won’t buy from you again if it’s not right.
#07IT'S A MAN'S WORLD
It is definitely more difficult to succeed in business as a woman than as a man. However, I believe that women are more intuitive, which can be an advantage. I don’t think that women tend to think with their egos, whereas it can be the driving force with lots of men. And the more successful they get, the more inflated their egos become.
Visit caprice-online.com
blog comments powered by
