Astonished? So was I. But nonetheless this lady has turned her $20000 into $5 million by expanding her little business. And mind you, she is even a mom! A mother of four children!
We all know how difficult it is for mothers with newborns to start even a small business. It may be common, but it is way more difficult than you can ever imagine.
Setting an example: Cadenshae
Nikki Clarke, the director and founder of Cadenshae, started her business with a $20000 order of bras. She financed it herself, so as to take full control and not rely on investors. She believed in saving pennies and walking all by herself.
And in the next five years, Cadenshae became a multimillion-dollar company, by taking charge of the niche market that was not being catered to.
When she started the business, all she wanted to do was make a bit of extra money to feel comfortable financially. But little did she know at that time, with courage, determination, optimism, and action, she will be turning her $20000 investment into multimillion dollars.
The 4 secrets that led her to the zenith
Nikki shares the top four things she had learnt in turning his small amount into a big one, without outside financial support.
1. Hire Early
When her company was turning over $3.5 million, in 2018, she literally had to do everything. The further few decisions she made went terribly wrong. That’s when she realised that she needs to hire, or she would go mad. Within months she hired seven staffs and Cadenshae started to feel like a real business. With more members in the team, the new ideas that can be put to action became easy. As well as, it also helped in keeping them ahead of competitors.
2. Establish Systems Early
She knew that as she grew, she would be needing powerful software and robust systems for accounting and inventory management. So, she ensured to establish systems early, because she knew that the last thing she wanted to do was to migrate systems and setting up new processes when she grew.
3. Get into the customer’s head
Earning profits was the secondary thing for her. The primary thing was getting into customer’s head and fulfil their expectations which they would really appreciate. To go a long way, treating your customers and staff far ahead of thinking of making profits. Obviously making profits is necessary, but not at the cost of ill-treatment. This heart over profit technique helps in building the trust of customers in the brand.
4. Keep your staffs happy
Staffs show higher levels of productivity when they are happy with their work. It was pretty simple. To make the team work to their fullest possible extent, she took responsibility and ensured to give her staffs everything they needed to succeed. Ignoring small mistakes, training properly, being patient and digging happiness no-matter-what were the keys to success.
Nikki Clarke is certainly setting some real goals for all the mom out there who think business is next to impossible with the little ones taking up 99.5% of their time. If she can do it, you can do it too!