How to Bootstrap a Business

Hi, I am Bette Hochberger, CPA, CGMA, and on today's #FinanceFriday, we have the fabulous Diana Moss from Mini Melanie joining us. Diana is going to teach us all about bootstrapping a business. Mini Melanie is a bakery owned by two sisters, Melanie and Diana Moss, who are our clients. Considering they started from nothing (with no investors) to now being recognized by huge brands like Beat Bobby Flay, Chopped, Guide Michelin, Forbes, and more, we are thrilled to have Diana on to discuss how they bootstrapped their business. A little background on Diana is that she is a human rights lawyer turned entrepreneur; Diana brings a passion for flawless operations and delivering superior service to Mini Melanie's customers. Before Mini Melanie, Diana ran various sales and operations teams for eight years at Onefinestay, a hospitality startup now part of Accor Hotels. She graduated from Emory University and lived and worked in London. Some of Diana's challenges with bootstrapping a business was running out of money; she avoided this pitfall by being extremely focused on their objectives, being aware of quarterly goals, and reinvesting their profit into the business. She attributes her success to her relationship with her sister and their ability to be nimble and make quick decisions. Mini Melanie has had a crazy year of pivoting due to COVID-19. The pandemic helped them accelerate the creation of their e-commerce site. She also cites spending money on marketing and crafting an epic newsletter, but she also credits luck as being a factor due to their loyal customer base. By keeping those loyal customers in mind, they can deliver fantastic new goods and are always looking for ways to provide more products and bring joy to as many of those customers as possible. Watch the video to discover how Diana and Melanie navigate working so closely together and find out Diana's unique talent! As always, stay safe, and we will see you next time!