Interested in starting your own entrepreneurial journey in food and beverage but unsure what to expect? Then read up on our interview with Molly Wilson, Founder and CEO of Lacsnac, located in Boca Raton, FL, USA.
What's your business, and who are your customers?
I'm a multi-brand owner. Lacsnac™ is a consumer foods brand exclusively for breastfeeding mothers. Every lactation "snac" is a healthy one, crafted with ingredients known to increase breastfeeding for nursing moms! This brand helps moms and their little ones achieve their 'milk milestones.'
Tell us about yourself
I love to say that I am a problem-solving creator! If you listen closely to people - they will tell you what needs in their life they have not found a solution for. I am so motivated by the challenge of creating a solution to important problems. I have owned multiple companies, from retail to marketing and, of course, food! I am passionate about the customer journey. An amazing customer journey starts with one foundation, trust. I'm motivated to keep working hard to earn the trust of our customers each and every day.
My first taste of business came at the age of 14 when I got a job at my local Hallmark Gold Crown Store. I was instantly hooked on every aspect of retail, from learning about products to helping customers find just what they need. Fourteen years later, I returned to my hometown and bought that small family-owned business, and when a 6,000 sq foot JC Penny store went out of business, I took a huge leap of faith and grew the little shop into a large destination retail store that is open seven days a week.
After selling that business, I decided I wanted to create a food product. I learned everything I could and started a gourmet food company, www.molly-you.com, which is now 10 years old. When I discovered that nursing moms had no healthy lactation-boosting snacks to purchase - I knew what to do, and I was able to build on the factory relationships I already had to create a new brand.
What's your biggest accomplishment as a business owner?
I love creating jobs for women, and I also love helping retailers build their own businesses through my products. Impacting others is always the most meaningful accomplishment for me. I measure successes not by dollars but by impacts on others.
What's one of the hardest things that comes with being a business owner?
If any business owner tells you that they do not have significant stress about finances on a regular basis - they are not being honest! The pressure of finances is such a tough reality. There are ebbs and flows in a business's financial cycle, and when the cash is flowing - that's the right time to be prepared for the tough financial times.
When a business is largely self-funded, the pressures can extend to the fear of letting down your family or not being able to pay back a self or friend loan. The victorious feeling that comes with a healthy cash flow is never taken for granted!
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Ask, ask, ask! I tell budding business owners to get multiple "mini-mentors." Keep it light, and have 2-3 people per 'category' to ask quick little questions. This will enable people to mentor you without feeling over-taxed on a time commitment.
- Be willing to pivot. I guarantee that your initial plan will need to be adjusted as you grow. This is a success and not a failure!
- Always be kind. Kindness to employees, customers, partners, and even your bank is always a winning calculation.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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