All the things you imagine a successful serial entrepreneur to be, Miki is charming, down-to-Earth, passionate, and approachable. She said smart things that I felt the need to write down and save for safe-keeping. As usual, I wanted to share them here with you:
Things about THINX:
- She had the original idea for THINX back in 2005, but didn’t start working on it until 2010. So for those of us who often feel overwhelmed that we will never have enough time to enact all our grand plans, waiting and biding time is possible. One step at a time.
- Funny tidbit - Can you imagine having to wait to test your own product until a small 5-7 day window each month? That’s what happens when you’re in the period business.
- Negotiating big contracts is her biggest challenge now - especially since the stakes are so much higher
- Dreams to be the #1 Global Hygiene brand and believes that donating things (a.k.a. A welfare model) is flawed when it comes to not-for-profit business models. Empowering people through their own purchasing power and creating win-win-win situations is possible.
- Recommends having a 6 month savings before you think about starting a business - the kind of savings that will still let you maintain your current lifestyle.
- Focus on what you do best - her restaurant business partner optimized her 3 vegan pizza restaurants in a much shorter timeframe than she was able to. She's better at the creative vision aspect of business, so she's sticking to it.
- When gauging whether or not a partnership is a good fit, she really just looks for mission alignment and if your ask feels authentic. Working on my pitch now...
- People are going to say no to new ideas. You have to work on building relationships to help get people to see what you see. Keep going.
Usually when people ask an audience to follow them, I don’t. But, thoroughly charmed, tonight I became Miki Agrawal’s 9554th follower.