Backpack business idea prompted by frustration

1. What is your business? Myrna Marofsky and Karen Stinson are founders of WiseWomen. It is an e-commerce business selling the WisePack™, a perfect travel backpack (rucksack) purse for women. The bag was designed for women by women and has many features that make it both fashionable and functional. Myrna explains...."Recently we added a Mini tote/shopper to our products in response to requests from our customers who asked for a small tote that could be tucked inside of the WisePack™. We attract customers through our web site, blogs, articles and word of mouth. The WiseWomen Foundation returns 15% of supporting organization purchases to them."


2. What prompted you to start up in business? After years of travel with bags that were miserable, non-functioning, or unattractive in a business setting, we decided to design one that worked for us and for other women business travelers. We spoke to many women who were looking for the same thing and got ideas. Then we made a prototype and had 20 women travel with it for 2 years while we ran our other business. After three prototypes, we manufactured them and began to sell them.

3. What was the market situation when you started up? Because we are entrepreneurs, we just went with our gut feel and the information we had from other women. We knew that there were many backpacks (rucksacks) out there, but most looked like college or camping bags. Women said they wanted one bag that could go from the plane, to the meeting, to the soccer field, and the grocery store. So we designed one.

4. Do you have a vision for your business and if so, what is it? Our vision is to sell bags via the web and through women's conferences. We will only add products our customers ask for. We want to stay small and personable, remaining close to our customers. We have tried retail and distribution, but the most profitable way to sell a small product line like this is though the web. Our hope is to make the WiseWomen foundation viable so that we can fund individual women as they explore travel for personal development and growth.

5. What was the biggest obstacle you had to overcome and how did you do it? It was difficult to start this business while trying to grow another to sell. We employed my daughter to produce the bag and set up the business. She did that part beautifully, but she had no interest in selling the product because she wasn't the profile of our customers. I had to fire her...unfortunately that was on her birthday...now, thankfully we joke about it. We had the bags in a retail operation and they sold well, but the parent company took over the local stores and kicked us out after they wanted to steal the design for their own and we said NO!. We have learned how challenging the retail market is and how different manufacturing is from the service business we ran so successfully in the past.

6. How did you find the finance to get started? Luckily we had a highly successful business already when we went to the bank to finance WiseWomen. We got whatever we wanted, whenever we wanted it. Our bankers all got WisePacks™ too. The day we signed the loan papers we were on top of the world, then we got side tracked with selling our other business and the payments became an irritant. We paid off the original loan with the proceeds from the sale of the our business and are funding WiseWomen ourselves now.


7. What are your personal qualities that have that have helped you to succeed in business? After running a large consulting company for 21 years with my partner, I have a good understanding of what it takes to run a service business. With that in mind, we are keeping this business small, and relying on our skills to make it happen. We have hired consultants, paid good money with limited results. The success really lies in our ability to get the word about this product out there. The qualities that I possess that have helped launch this business are: Blind faith, guts, good reputation and well networked with our customers, creativity, innovation, resourceful, belief in the product, positive attitude, good communication skills, both oral and written, persistence and an "abundance" vs. "scarcity" attitude.


8. How do you keep going when things get tough? My partner and I believe in this product and our mission to create the WiseWomen foundation. Nothing in this business is as tough as running a big business like we did in the past. I'm also very glad I have a trusted partner, confidant, and good friend in the same person.


9. How do you measure success? Watching the sales come in from the web and seeing the growth from year to year are the things you can measure. Reading the comments from happy customers are the squishy things that can't be measured, but make us feel successful. In my past business the greatest measure of success was selling the company for the highest value possible.


10. If you had one piece of advice for a woman starting out in business, what would it be? Women get excited about an idea or passionate about a product, and being the resourceful people of the world, we can turn ideas into realities. What we tend to forget is that someone has to want our ideas. They need to buy our products. We need to generate revenue. That means that a marketing plan is as important as a product development plan. When people ask you, "So how are you going to market your idea?" You need an answer.


Backpack business idea prompted by frustration - To learn more about this author, visit Sue Stockdale's Website.

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