Ever wondered how someone makes it as their own boss? What it takes to run your own business? Here at VIP we exclusively speak to some of Ireland’s top businesswomen to find out the secret to their success.
This week we’ve been chatting to Pamela Laird from Moxi Loves on everything from managing the work/life balance to who inspires her most.
Have you always dreamed of owning your own business?
I suppose having a mum, that owns her own beauty salon always inspired me! I don’t think I quite knew what I would end up doing but I always knew it would be in beauty. I had a makeup range in my mums salon when I was 8- it was called ‘Pam’s xxx’ Mum let me choose the makeup and I ordered labels and stuck them on. It was full of glitter lipsticks and eyeliners so I guess I had started playing around with a brand from a young age!
What have been your biggest challenges you have faced?
I had originally launched my brand with one product called ‘Eye Catcher’ it was a liquid filled cotton bud for on the spot cleaning and correcting. In 2018 a photo circulated of a seahorse gripping a cotton bud underwater and whiten 2 weeks of that photo going viral the EU decided to ban plastic cotton buds. It was such a blow and one I was not ready for, our hero product would have to be discontinued to copy with the new legislation. But it was in hindsight a great opportunity to pivot and adapt my range to become sustainable. It was a tough lesson and challenge!
How do you balance work/home life as a business owner?
If I am being completely honest I’m not sure I have this balance! You just are ‘on’ 24-7 and I think thats part of what I like about running my own business, its not just a job its part of my everyday life. I do try to put the phone down and watch some mindless reality TV, this always helps me to relax in the evening!
Do you find that you often bring your work home?
Yes I am very guilty of this, I suppose it was a house of business when I was growing up. My mum and dad both had their own businesses and so I was used to the conversations at home and for sure its no different for me. It doesn’t help when their are boxes and lots of work bits in the house as I sometimes work from home.
What advice would you give a young woman who wants to be her own boss?
I think anyone who wants to be their own boss is brave and its not an easy road so the more experience you can get prior to taking that leap will stand to them. The more you know about the industry you are moving into the better and if you can avail of some of the services local enterprise offer. Local Enterprise have grants and funding to help people starting their business off and often have specific female grants. In would suggest doing all the research you can about competitors etc. This is key to getting things in place early days, and I would recommend everyone takes the support out there.
How important of a role do your team play in your business?
My team at the moment is a little unofficial! Its technically just me but I do have unbelievable support from consultants I am working with and some freelancers who do my design work. My main focus is building my team in 2020 and I am in early stage talks with investors to put this in place so its a very exciting time.
What do you wish you’d known when you first started out?
Oh gosh so many things! I made quite a lot of mistakes but then again they all brought lessons along the way. I probably would have built my team a little earlier if I could have, it would make things a little easier today.
What has been your biggest business mistake? What lessons did it teach you?
I have two, I signed off on packaging and didn’t notice the designer never placed the barcode on the packaging. This lesson ( 60,000 labels later) was one I will never forget and it taught me to take my time and I now have a checklist!
Secondly, I took on investment in 2017 from the wrong type of partner, I needed the money but it was short term gain and caused me a bit of hassle afterwards. This taught me a lot!
What has been your biggest achievement?
Seeing my product on shelf in Penneys just feels like a huge achievement. I feel I created the brand knowing how it would sit and look on shelf there and so I was and still am so giddy to see it on shelf! We are also launching into Boots UK and I might just faint when I see it there!
What woman in business inspires you the most?
My mum! She’s incredible and has been inspiring me from day one to chase my dreams and goals. I think I always feel inspired by how many amazing female entrepreneurs we have in Ireland, for a small country we have a powerhouse of beauty brand owners and whenever I see them launch something new or a new market I get a little boost to keep going.
What are your plans for the next five years?
Building my team and partnering with an investor will be the big moves for 2020 and my dreams actually scare me for the following 4 years! But thats what its all about – I would love to have Moxi Loves on shelf in the USA!
The latest product from Moxi Loves are their Dry Shampoo Sheets, ideal to throw into your handbag for hair touch-ups on the go without carrying around an aerosol. They’re also only €3.95!
All pictures used from @pamela_laird.