This week on Lean the F*ck Out we talk with plus size fashion designer, stylist, and entrepreneur Rachel Kacenjar. Rachel discussed how she sold her business Re/Dress after purchasing it from a colleague and running it for almost a decade.
Selling Your Business Episode Highlights:
- Go into all employee hires with good boundaries in mind; there is a fine line between employee and friendship that should not be crossed.
- If you are going to start your business doing something you are passionate about, be prepared that you might lose that passion.
- Always have a contract, no matter who you are dealing with. Contracts help set healthy boundaries.
- When opening a business banking account, open two additional sub-accounts. Put one-third of your income in one of those accounts for tax savings and put another one-third into an account for buying new stuff you need for the business.
- Don’t be afraid to make mistakes. Let it go, make mistakes liberally, and learn from them.
- It’s okay to critically analyze big mistakes.
- Have a backup plan.
- Plan for your dreams and the health of your personal future.
Rachel Kacenjar has more than a decade of experience in the fashion industry. She is a plus size fashion designer, stylist, and entrepreneur who bought, ran, and sold the popular plus size indie fashion giant, Re/Dress.
She lectures at Parsons the New School for Design on ethical fashion and has been a queer body positivity advocate both locally and nationally working on the board of NOLOSE and organizing local events like talk therapy group Body Positive Circle, as well as body positive activity groups like BoPo Yoga, Jammin’ Jellies Dance Class, and BoPo Dance Party. She recently switched gears and returned to non-profit work as a statewide operations director for a women’s rights advocacy group and runs a small consulting firm where she helps new businesses grow, create product lines, and keep their finances in order.
Follow Rachel online at:
Consulting info link: http://tinyurl.com/consultwithRK
Download the FREE Lean the F*ck Out Launch Kit
If you are thinking about starting a business or side hustle, check out our Lean the F*ck Out Launch Kit. The kit gives you tools and inspiration to start thinking like a fempreneur and start designing the life you want! You’ll receive a guided meditation to help you figure out your vision, a budget worksheet to see what you need financially to make a go of it, daily practices including printable worksheets and daily affirmations to help you keep your head up when your confidence is waning. Again, it’s free and it’s available at leanthef-ckout.com/launchkit.
Music: Sunshine by The Icicles