Published on October 21st, 2012 | by thevyne0
Entrepreneur Spotlight: Tracey Solomon
Twitter handle: @traceysolo
Hometown: Originally, I am from Winnipeg, Manitoba (Canada), but I am now a firm Brooklynite!
Roles you play in life: Entrepreneur, consultant, advisor, daughter, sister, friend
Education: Bachelor of Science from McGill University (Montreal, Canada)
Tell us about your journey as an entrepreneur. What led you to strike out on your own?: I have always been a creative person, with lots of ideas. Every Christmas, my sister, my brother and I used to have the ‘Solomon Summit’ where we would talk about new business ideas and just spend time exploring different concepts. Most of the time we didn’t act on them — it was our way of letting off creative steam in a totally non-threatening environment. But our parents always encouraged us to do something with the ideas and each of us has started at least one business on our own, and also do joint events/projects together from time to time.
Describe your business: Hoseanna is an online hosiery delivery service that makes it easy for busy women to shop for all their legwear basics, without the hassle of the dreaded department store run.
What is one of the biggest lessons you have learned from being an entrepreneur?: Even though you’re the founder, you don’t know everything, nor do you have the time to do everything. A great CEO knows when something is beyond her abilities or her bandwidth and isn’t afraid to get the help because the business comes first, not your ego.
What advice would you give someone thinking about starting her own business? Make sure you and your loved ones work on mental toughness. You will probably not be around for a lot of important events. You will not be available and accessible the way you are today to people that depend on you emotionally, financially and spiritually. You are going to be asking a lot of people and you need to figure out quickly who really has your back. Most of all, don’t forget that it’s a journey and there is no such thing as an overnight success. But when success comes, it will be sweet!
What is the most gratifying thing about being a business owner? For me, it’s knowing that everything I do, every decision I make, is material to my business. As an owner, you are in an incredible position to see the direct impact of your actions and whether they are creating or destroying value. It’s incredibly frightening and incredibly exhilirating at the same time. It really isn’t about the money. Money is obviously nice to have, but it’s more of a way of tracking your progress. If you are making money, you are adding value. If you are not, then you need to do something different because your target audience doesn’t see the need for what you do.
What is the most challenging thing about being a business owner? Turning off is the hardest thing for me. The easiest thing in the world is to keep working. When things are good, you want to keep riding the momentum. When things are bad, you obsess about how you’re going to fix it. You need a good support system around you consisting of people who will help you pull back and keep you sane. Even when you don’t want to take a break, you need people who can see that you need a breather and will put just enough pressure on you to get you to focus on yourself and recharge.
3 words that describe you: Energized, compassionate, curious
Favorite travel destination: Trinidad & Tobago
Shuffle Your iPod. What’s the first song that comes up?: Something naughty!
Finish this statement, “To feel more centered I…”: talk to a close friend or my sister
One item you cannot live without: The internet
Favorite beauty product: Humectress Leave-in conditioner
Who have been some of your style inspirations? Kerry Washington – she always looks polished; Nia Long – that hair!! She is the definition of super-fly; Halle Berry – for her impeccable red carpet look, which I can’t afford but aspire to be one day.