Business Opportunities Weblog

July 24, 2008 by Angela Shupe | 3 Comments

Julie Hogan and her husband were born entrepreneurs. They wanted to work for themselves and did so successfully. Later when they decided to retire from their business they sold it off, until they got the itch for something new.

Now they are the owners of 4 children-based businesses including Rock n’ Roll Baby Wear, Asian Baby Style, Funky Punky Baby, and Sterling and Pearls. Each business as unique as the next. Although they all have something to do with children, they still bring something to the business world that is hard to find elsewhere.

The jewelry offered through her website is baby and child safe, a good thing since the jewelry is made for them! With all the talk there has been of lead in toys and fake children’s jewelry, Sterling and Pearls offers great looking jewelry that is safe and affordable. She is also giving one of our readers a chance to see that for themselves.

Giveaway

Do you like the child’s bracelet shown here? You have a chance to win it for the little girl in your life. To enter you will need to send an email to bizop.giveaway@gmail.com with the subject, “Sterling and Pearls“. Within the email, make sure to mention which size of bracelet you would like to win: 5.5″, 6″ or 7″.

The giveaway starts today and ends on August 3rd at 11:59pm. All giveaway rules apply. Only qualifying entries will be counted.

From what I’ve seen you have four separate businesses, Sterling and Pearls, Rock n’ Roll Baby Wear, Asian Baby Style, and Funky Punky Baby. How do you keep up with it all?

Perseverance, and a wonderful partner (My Husband Robert).

How much time, on average, do you spend working on your business?

35-50 hours a week.

What was the first business you ever started?

A skin care salon in Florida.

Why did you and your husband become entrepreneurs?

We became entrepreneurs through a STRONG desire to work for ourselves. We were desiring to set our own pace in life, work as much or as little as we wanted to, and to become financially independent.

What inspired your first start up and each start up afterwards?

We opened a skin care salon and retail store all about beauty, because we knew that it would do well, and because it was what I knew, and loved. My background was in skin care and cosmetics, it was a natural choice to do what you know and like! Knowledge is power, the more you know about your new business, the better. Walking in blind, and not having experience is not a great way to start a new business. You need to be an authority / expert. You must be able to sell your product / service with passion and through the age old sales technique, that never fails “Find a need, and fulfill it”.

Each start up afterwards? Well, we sold our skin care business, which was completely debt free, and running on full steam ahead for nearly a “tidy sum” and planned to retire at the age of 40 ish.. It was great for a few weeks, but then the entrepreneurial “spirit” or “itch” re-surfaced, and we were not happy to be on the sidelines! So, my husband and I started talking and planning. The Baby Jewelry Business seemed promising, and with the outrageous numbers of babies being born recently, we felt very “sound” in the decision. The first product I wanted to have available was a tiny pearl bracelet for newborns! Finding one in a jewelry store is impossible, and so there was a “need”. I also wanted to do something about the lead filled junk jewelry from China, that is so toxic to babies and children. In my heart, I hope that I can make more parents aware of the damage that leaded jewelry can do to a child and their family. The next startups, which were the RocknRoll / Punk Baby Clothes and accessories, came out of the immediate success of the baby jewelry business.

What is the distributor opportunity that you offer?

We have a wholesale program that has no hidden fees, or start up costs. Our wholesale minimum is an opening order of $250.00. Alternatively, we offer a mentoring program for a 3 month period that is at a cost of $10,000. With this program you receive our personal advice, guidance and business tips. “Secrets of the trade”. We don’t have CD’s or books, instead we have the knowledge and information that you need to become successful in the retail business, whether it be a retail store or a website.

What are some of the top products sold within each of your stores?

Nearly every product is a top seller. Research is very important, and so is variety. If you are going to offer purses, say for example, you need to have many choices. Otherwise, it looks like you are not confident in your choices, and it makes people uneasy. If you believe in something, stock it up! Have lots of choices in colors, or models, or sizes. “Boutiquing” is not a great way to set up a business. It makes you look like you are having a garage sale. Pick an idea, products, and show the world how strongly you feel about it, through your displays or web pages. If you have a store (brick and mortar) NEVER, EVER put 1 or 2 of “everything” on shelves. It is making a negative statement that you are unsure about the product as well. Never tell a customer “We are just trying it out to see what people think”.

How much planning went into creating each of your businesses?

A lot of planning. Many late nights, dozens of conversations, and most importantly the visualization of the idea as well as the success that we would experience.

Take us through some of the steps you had to go through.

Start at the beginning: Find a need, and then fulfills that need, and in a way that is easy for consumers to comprehend. Tweak an idea that already exists, offer a new way to solve an old problem. Concept is everything. Your Company Name is important, especially online. TRY to avoid .net or .org., .com is the way to go. VERY IMPORTANT: Do not ask your family or friends what they think….collecting opinions will drive you away from your inspiration and plans. By talking an idea to death…guess what happens? It dies! By all means, if you are married, get your spouse on board with you! Use your sales techniques on them, now you will find out how much “sales technique” brushing up you will have to do. Instead of talking and collecting opinions, spend that valuable time on research. Avoid thinking about all the reasons why you might fail, and instead think about how you will succeed.

Next, you will need to incorporate, File for TAX ID Numbers, and get a Federal ID Number from the lovely folks at the IRS. This is not painful, it is very easy, and can be done online! Ask an accountant about becoming an S Corporation. We believe that it is the best way to go. Also, search out a good deal in credit card processing. You have to ask for a better deal, they won’t just give it to you. Negotiate, that is the key. Whatever you do, don’t procrastinate. These clerical steps and filings should be the last things you do. Many people allow these steps to hold them back, and they never get anything started. Don’t analyze things too deeply, just do it. Taking action is actually painful for most people. This limits your competition, so go for it!

What kind of investment did it take?

We started all of our companies with approximately $6,000. From our first $6,000 investment we became millionaires within a few years.

What are some of the lessons you’ve learned from your experience starting your businesses?

There were times when I did not go with my gut instincts, and was sorry for that later. My Husband, and partner, Robert is meticulous by nature, which allowed us to avoid many errors and problems. I would add that keeping immaculate records is crucial, if you plan to sell your business later on. Keep in mind that “cash” cannot be tracked, so it cannot be relied upon as true business income, to the potential buyer of a business.

As a self-made millionaire, I could only imagine all the things you must know. Do you have any tips for someone looking to start up a business of their own?

When a negative thought comes into your head, or the little devil on your shoulder tells you that you can’t pull this off, say “next” aloud, and replace it with a positive thought. Also, visualizing your success, and all the wonderful benefits that come with it, is key. Our minds are often self limiting. Problems or roadblocks are only as important as you choose to make them. What are some of the things that helped you get started? What you tell your mind, it will believe. I am a firm believer in avoiding selling to your close friends and family. It makes most people uncomfortable, and changes your relationship with them. Give your product to these people, if you can afford to. Then ask them to spread the word for you. lastly, the most important thing you can do is to “get out there” with your company. Advertise, make sales calls, put a sign on your car, do a mailing. A very powerful tool is to “blog” online. We will teach you all about this if you should decide to have us “mentor” your new business.

In Biz Ops, Ecommerce, Giveaway, Interviews, Jewelry, Kids, Women, Work at Home | 3 Comments