In this ongoing series, we share advice, suggestions and insights from real entrepreneurs who fight business battles every day. (Responses have been edited and condensed for clarity.)
Give us your company’s elevator pitch.
My name is Anna Harman, co-founder and CEO Heels. We have redefined ear piercing by offering consultative and specialist ear piercing services, combined with a wide selection of fashionable earrings at inexpensive prices, in an experiential retail environment to our primarily Gen Z and Millennial customers. This month (March) we opened our twenty third location, with more to return in 2024.
Read Anna’s latest article: Here’s my advice for small business owners trying to expand their retail presence.
What inspired you to create this business?
In 2019, when I used to be 34, I used to be inspired by a friend of mine who had nice piercings in her ears to go and get a second piercing at a luxury piercing salon. The wait was going to be a few hours and my piercing was too expensive, so I left. I knew I desired to be pierced with a needle, not a gun, and my friend (now co-founder) Lisa Bubbers he got here with me for a piercing at a tattoo parlor in downtown New York. The piercing practice was healthy and secure, but I felt misplaced in the environment and didn’t like the jewelry selection. So Lisa and I began looking at available options and found this gap in the market. The landscape for ear piercing with needles (somewhat than piercing guns) has been fragmented. Customers went to a local tattoo shop, and once their piercings healed, they went to mass retail stores to buy the piercings. Behaviors have been separated. Our goal is to offer a comprehensive combination of ear piercing, ear piercing treatment and earring purchase Ear Shaping® experience.
Tell us about an extremely difficult moment that you simply didn’t expect and the way you reacted.
When the Covid-19 pandemic hit, Studs was still in its infancy. The world stopped right after the second location opened. Our business got off to a strong start, with full stores and excited customers. Then the pandemic slowed down. We lost just about all of our revenue and I used to be faced with the dual challenges of adjusting the business and welcoming a newborn. Our salvation was e-commerce, which was not our fundamental area of interest before. Surprisingly, earrings have thrived in the Zoom era. While earrings weren’t an obvious category that individuals were buying while sitting at home, because it seems, you wish earrings when you are sitting at home because you are in front of a video camera all the time, and it turned out to be an accessory that can make you’re feeling dressed up again and human, while the remainder of you could possibly be wearing sweatpants. Soon the stores reopened and to our surprise, customers began coming back to get their ears pierced at Studs Studios. The pandemic modified all the things, but our company proved resilient. Although challenges remain, we are fortunate to be among the lucky ones.
What advice would you give to entrepreneurs looking for financing?
I think the VC investing landscape has modified dramatically in our retail category over the last few years. In the past, investors invested in a great founder with an amazing idea. Investors now want real confidence in your product-market fit, a solid business model that generates revenue and profits, and validation of your leadership and operational capabilities before they invest. I think that if possible, entrepreneurs should start with a seed model until they have early indicators of product-market fit and revenue, and then approach investors with full confidence and belief not only in the idea, but also in the business model and market opportunity .
What does the word “entrepreneur” mean to you?
Someone who dances with risk, not someone who takes probabilities with it. They have a vision, understand the potential pitfalls, and are willing to step outside of their comfort zone to chase that vision. It’s not about recklessness, but about calculated risks and the courage and determination to see them through to the end.
What is something that many aspiring business owners think they need but don’t really need?
Many aspiring entrepreneurs get caught up in the lure of big budgets and flashy marketing campaigns. While these might be helpful later, the truth is that organic growth fueled by word-of-mouth experiences is often the strongest tool in your arsenal, especially in the starting. Focus on creating a product or service that individuals love and rave about, and they’ll turn into your biggest advocates, spreading the word about you without spending a penny.
Is there a specific quote or saying that you simply use as personal motivation?
As Kelly Clarkson sang, “What doesn’t kill you makes you stronger.” This really resonates with me as an entrepreneur. Her core message about overcoming challenges is inspiring. Companies struggle with setbacks, criticism, and market changes. Treating them as opportunities to learn and bounce back demonstrates resilience, a key feature of name and business building success.
Do you must achieve success comparable to Anna? Keep an eye out for her upcoming events Entrepreneur+ an article in which Anna shares invaluable advice tailored to the needs of small business owners. Check again March 26 when the story will see the light of day.