How do you go from a sucessful career as a vet, to running an online lingerie brand. Retha Queenan tells all.
Name: Retha Queenan
Age: 39??
Children: Daughters, Brigid aged 3 ? and Caitlin aged 1 ?
Business name: www.aalingerie.com??
Profit in first year: Loss: ?70,000
How did the idea for your business come about?
AA Lingerie was launched in 2004, a one-woman crusade in response to my own frustration at the lack of bras available on the high street for my own 32AA frame! Fellow AA-cup wearers will vouch for the lack of bras available to the likes of us, with the exception of the occasional white, plain, triangular starter bra found in only the largest of lingerie departments. Even my wedding photos bear testament to the fact that I was unable to find one single bra in my size in the entire year preceding my wedding, and I was compelled to go bra-less on the day in my figure-hugging, sheer silk gown!
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How did you fund the business?
With a combination of business loans, cash raised by re-mortgaging our home to the hilt, and working as a veterinarian.
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How do you manage your business with childcare commitments and running a home?
This has been the hardest part, since we do not have immediate relatives in the UK, therefore every hour of childcare is paid for. In addition, my husband works very long hours, often including Saturdays, and I continue to work part-time as a veterinary surgeon. I think the key to keeping things afloat has been my husband’?s unwavering support, my increasing tolerance of my own imperfections, a naturally nocturnal nature (which means I can do most of the work when the family is asleep!) and my growing skill at prioritising!
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What is the best thing that has happened to you as an entrepreneur so far?
The personal growth and wisdom that the process of setting up and growing www.aalingerie.com has brought about!
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And the worst?
There were times when the financial – and time pressures felt crushing to us as a family; most acutely when we were trying to adjust to the challenges of new parenthood. These days are, thankfully, now over.
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What would you do differently if you could turn the clock back?
Many small elements would be revised, but the biggest errors were made with my marketing strategy at the time of launch. Think, think, and think again: what is the most cost-effective way to reach as many as possible of your target customers in as compelling a way as possible? And, if that (assumption) fails, do you have a plan B? ?And C? And D? And sufficient funds for plans B,C and D?
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Any tips for mums who are considering setting up a business??
- It is important to be very focused. Many of those characteristics that make an entrepreneur – (creativity, idea-generation, recognition of synergies, opportunism) are fine and well if your time and funds are your own, but when you’re juggling motherhood with business, too many ideas and projects can be paralysing, and sometimes it may be wise to keep certain things small, since big can self-destruct quite easily; particularly when your children are very young.?
- Know your strengths and weaknesses; outsource what is appropriate, but within reason: bought-in ?professional? skills are not always better than your own, especially since you’?re the one who understands your own business best, and has the greatest passion for it.?
- Learn from your mistakes! Even though you will feel as if you’re constantly on a treadmill, it is critical that you take the time (and often) to reflect and analayse and ?re-strategise? if appropriate.?
- Listen to advice, but, ultimately, trust your own judgement.