From Designer Dream to Financial Reality: Alexandra Satine on Building, Scaling, and Starting Over | Emily Blumenthal & Alexandra Satine

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<v SPEAKER_01>It's the most beautiful thing about entrepreneurship is your ability to connect with people that open doors.

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<v SPEAKER_01>And the creativity is different as an entrepreneur.

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<v SPEAKER_01>The creativity comes from meeting this other people and opportunities and conversations surging out of them.

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<v SPEAKER_01>And that's the how the ideas come about.

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<v SPEAKER_01>Like, oh my God, what if we do this?

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<v SPEAKER_01>Oh my God, what if we do that?

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<v SPEAKER_01>And then really you what you start building is just really beautiful because it's yours and can be replicated in the way that you're thinking about things.

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<v SPEAKER_01>So I think that's the beauty of entrepreneurship, to meet people and meet opportunities.

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<v SPEAKER_00>Hi, and welcome to Handbag Designer 101 the podcast with your host, Emily Blumenthal, handbag industry expert, and the handbag parry godmother.

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<v SPEAKER_00>Each week we uncover the stories behind the handbags we love, from the iconic brands and top designers, the creativity, craftsmanship, and culture that define the handbag world.

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<v SPEAKER_00>Whether you're a designer, collector, or simply passionate about handbags, this is your front row deep to it all.

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<v SPEAKER_00>Welcome, Alexandra Sateen, whom I've known for a cabillion years, currently of your cohort, formerly of Alexandra Sateen Handbags, vintage.

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<v SPEAKER_00>Welcome, welcome to Handbag Designer 101, the podcast.

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<v SPEAKER_01>So excited.

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<v SPEAKER_01>Thank you so much, Emily, for having me here today.

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<v SPEAKER_01>I'm super excited to be part of the show.

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<v SPEAKER_01>I felt very honored when you text me and sent me a message to be here.

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<v SPEAKER_01>It says we've gone back a long time and we are passionate about two things and being entrepreneurs and handbags, which was a passion that I had very early on in my career.

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<v SPEAKER_01>So thank you.

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<v SPEAKER_00>So please listen, considering with the awards, I had the pleasure or the luxury of being connected to so many incredible people, yourself included, to see the evolution of what people do beyond the bag to me is also very, very exciting because without that origin story, I can say with full confidence, you wouldn't be where you are today without having gone through the trials and tribulations and pitfalls and successes for you to understand where perhaps your place should be now, correct?

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<v SPEAKER_00>Correct.

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<v SPEAKER_01>No, yeah.

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<v SPEAKER_01>Completely, to be honest.

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<v SPEAKER_01>It was the hardest experience, yet it was the best experience of my life.

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<v SPEAKER_01>It's shaped my entire career.

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<v SPEAKER_01>It's really shaped my even my own belief in how to be an entrepreneur and how to approach it.

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<v SPEAKER_01>And it's really was one of the biggest drivers as to why I built your cohort nowadays.

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<v SPEAKER_01>So so it's again, it's I don't regret a bit of it.

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<v SPEAKER_00>Let's go way, way, way, way, way back.

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<v SPEAKER_00>Alexandra, where are you from?

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<v SPEAKER_01>I'm originally from Venezuela.

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<v SPEAKER_01>I came to New York probably when I was 22, 23, so quite a few years back.

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<v SPEAKER_01>And I did my undergrad in Chicago.

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<v SPEAKER_01>So so I've been around.

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<v SPEAKER_00>You did your undergrad at Chicago at Chicago when you were 22, or you went for undergrad at at 18?

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<v SPEAKER_00>First in Chicago and then you were was it hard to come to the US?

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<v SPEAKER_00>Was this your first time like putting roots down?

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<v SPEAKER_00>Leaving because Venezuela, I mean, we have a an incredible network of designers from Venezuela, and there's always a story attached to it purely based on what was happening politically, culturally.

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<v SPEAKER_00>Talk a little bit about that coming from Venezuela, ending up in Chicago at 18.

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<v SPEAKER_01>Yeah.

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<v SPEAKER_01>So I actually, it was actually my second time in the US.

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<v SPEAKER_01>I came the first time when I was in fifth grade.

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<v SPEAKER_01>My my dad is an expat.

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<v SPEAKER_01>He worked for an American company.

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<v SPEAKER_01>So I had a chance to be here for a brief like run.

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<v SPEAKER_01>And I actually lived in Toledo, Ohio.

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<v SPEAKER_00>Awesome.

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<v SPEAKER_01>Did you you you lived here for fifth grade?

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<v SPEAKER_01>You went to school in fifth grade here?

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<v SPEAKER_01>Yeah, I did.

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<v SPEAKER_01>Fifth and sixth.

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<v SPEAKER_01>And then I went back to Venezuela.

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<v SPEAKER_01>And due to the circumstances, we decided to come back to the U.S.

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<v SPEAKER_01>I came by myself.

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<v SPEAKER_01>My parents came to Detroit later on.

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<v SPEAKER_01>But right away when I came to the US, I wanted to be in somehow involved in the arts.

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<v SPEAKER_01>So my undergrad was in illustration and graphic design.

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<v SPEAKER_01>Wow.

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<v SPEAKER_00>Yeah.

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<v SPEAKER_00>So I wow.

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<v SPEAKER_00>That's how the story was that.

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<v SPEAKER_00>I mean, especially having parents and moving around.

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<v SPEAKER_00>And we talk a lot about becoming a designer.

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<v SPEAKER_00>And the most of the people with whom we deal with when they make this hard fast rule, like, I want to be a creative.

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<v SPEAKER_00>Usually they're very type A, very organized, very methodical.

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<v SPEAKER_00>And then when they decide to do something creative, all of that logic goes out the window and they find something inside them and it plugs them in.

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<v SPEAKER_00>It's like, I'm just gonna go for it.

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<v SPEAKER_00>And it makes no sense.

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<v SPEAKER_00>There's no logic, there's no purpose, there's no end goal.

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<v SPEAKER_00>It's like, this is it.

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<v SPEAKER_00>This is just what I have to do.

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<v SPEAKER_01>Yeah.

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<v SPEAKER_01>Honestly, I always been creative.

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<v SPEAKER_01>I've always had a passion for creativity.

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<v SPEAKER_01>I didn't know I had a passion for numbers, even though I come from a family that has a finance and engineering background.

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<v SPEAKER_01>So I guess it was hidden in me.

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<v SPEAKER_01>It just never really flourished until later on in my life.

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<v SPEAKER_01>But I've always wanted to be creative.

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<v SPEAKER_01>I actually really wanted to be in fashion, but unfortunately, that my the cards didn't play out for my undergrad to be in fashion.

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<v SPEAKER_01>But what really steered me into the fashion world was when I had the opportunity to meet Kenneth Cole at one of his book signings in Chicago.

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<v SPEAKER_01>And I asked him to that I wanted to do an internship at Kenneth Cole at that time.

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<v SPEAKER_01>And he shared his email and I sent him my resume.

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<v SPEAKER_01>And that's how my entire fashion career started.

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<v SPEAKER_01>I did my internship for a summer at Kenneth Cole, and it was just it was everything I had dreamed and expected, and it was one of the best experiences.

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<v SPEAKER_01>And it's what also drove me to go back to New York.

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<v SPEAKER_01>And it was my first summer in New York, so it was just really magical.

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<v SPEAKER_01>Honestly, it was an amazing experience.

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<v SPEAKER_00>He is Kenneth is a very interesting guy.

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<v SPEAKER_00>One-on-one, he really shines.

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<v SPEAKER_00>He's a very, I don't know, there's a very uh dad-like quality to him.

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<v SPEAKER_00>And he follows up.

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<v SPEAKER_00>He's one of those people.

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<v SPEAKER_00>He has a very interesting thing, very Wizard of Oz type guard around him.

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<v SPEAKER_00>Uh, Rebecca Minkoff does too.

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<v SPEAKER_00>To to get to him, you've got to go through a lot of people, like, because he's well protected, or else I'm sure most people would chew his ear off.

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<v SPEAKER_00>Not you, but like people.

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<v SPEAKER_00>So the fact that you had the wherewithal to be like, what's up?

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<v SPEAKER_00>I'm Alexandra.

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<v SPEAKER_00>You know, I should work for you.

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<v SPEAKER_00>What do you think?

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<v SPEAKER_00>And he's like, sure, email me.

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<v SPEAKER_00>And boom, there you were.

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<v SPEAKER_00>I'll disclose it.

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<v SPEAKER_01>In full transparency, I didn't know who he was.

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<v SPEAKER_01>I knew he had a book, but mind you, I had just gotten back.

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<v SPEAKER_01>I just it wasn't like in Venezuela I was following you know American fashion to the T, right?

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<v SPEAKER_01>So I so to the whole story has some sort of also naiveness to it that I think maybe came through.

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<v SPEAKER_01>I just asked him, like, I need an internship.

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<v SPEAKER_01>I heard that this is what people do, and oh my god.

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<v SPEAKER_00>And that's sometimes but you know, sometimes that naivete is what allows you to go from you know, it's like little kids, how they don't have fear of falling because they really haven't fallen.

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<v SPEAKER_00>So, like, why not be like, hey dude, hire me?

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<v SPEAKER_00>Okay, here's my email.

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<v SPEAKER_00>You know what I mean?

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<v SPEAKER_00>Yeah, so so yeah, so that's the beginning of it.

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<v SPEAKER_01>What department were you in?

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<v SPEAKER_01>And the design.

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<v SPEAKER_01>So I was in design, so obviously, as an intern, you're you're pretty much everywhere.

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<v SPEAKER_01>Uh, I helped through, I helped them uh get everything organized for fashion week.

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<v SPEAKER_01>I helped them put a collection together.

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<v SPEAKER_01>Yeah, I was through the entire thing.

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<v SPEAKER_00>Where did you live?

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<v SPEAKER_01>Back then I moved uh to Midtown East.

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<v SPEAKER_01>I was in Midtown East in a tiny little studio that was like the ones that you can see people's feet because it's like under, you know, it's not not on sidewalk level, but on this almost like under the sidewalk.

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<v SPEAKER_01>But again, it was New York.

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<v SPEAKER_01>It was it was phenomenal.

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<v SPEAKER_00>That is so crazy.

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<v SPEAKER_00>So after you had that experience, what did you decide to do?

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<v SPEAKER_00>Were you still an undergrad or you were like, I had one more year.

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<v SPEAKER_01>I had one more year and I and I chose to uh I finished my year in in Chicago, and then I went to I moved to Paris and I went to school there for a year and a half to learn French and also to explore to see if I was gonna my mom is French, so I had the opportunity to see if if I wanted to stay there or or go back to the US.

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<v SPEAKER_01>And so I lived there again.

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<v SPEAKER_01>Another incredible opportunity and experience that I had.

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<v SPEAKER_01>I've always felt very lucky in that way.

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<v SPEAKER_01>And and then I actually applied for a job in Nike Amsterdam headquarters, and I was the second runner up.

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<v SPEAKER_01>I didn't get it, which I was really bummed because I really wanted to get that opportunity.

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<v SPEAKER_01>I'm sure you were I'm sure you were more than bombed.

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<v SPEAKER_01>Yeah, I was devastated.

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<v SPEAKER_01>I literally cried quite a while.

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<v SPEAKER_01>And then I then came to New York.

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<v SPEAKER_01>So that was it.

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<v SPEAKER_01>I ended up going to New York and I got an opportunity to start off as an intern at Nine West.

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<v SPEAKER_01>They had an apparel at line at that time.

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<v SPEAKER_01>It was when they used to be under Jones, New York, the company.

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<v SPEAKER_01>And I started there.

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<v SPEAKER_01>That's I went from intern to like assistant designer.

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<v SPEAKER_01>I started, I had a phenomenal um boss at that time.

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<v SPEAKER_01>And that's really where I learned a lot about the business and how to really think through from development all the way to production.

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<v SPEAKER_01>And five, six years in, in 2008, I don't know if you remember 2008, like it was in New York was really strange because the whole market had fallen and burned went down and all that.

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<v SPEAKER_01>Yep.

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<v SPEAKER_01>Probably like seven months into all that, I I decided that I wanted to start my own company.

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<v SPEAKER_01>Uh terrible timing, also, by the way.

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<v SPEAKER_01>And uh and yeah, I decided to go for it and I quit my job and I started doing it.

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<v SPEAKER_01>I um to be honest, I didn't quit my job without anything done.

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<v SPEAKER_01>I did do quite a bit before I started my company.

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<v SPEAKER_01>I was selling at the market on Soho, that church market on Sundays.

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<v SPEAKER_00>Yep, yep, yep.

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<v SPEAKER_00>The one on the street, yeah, yeah, yeah.

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<v SPEAKER_01>Yeah, I was at the one that's actually in the school, you know, is on the street, and then I was in the school.

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<v SPEAKER_01>Yes, I did that for like seven hundred.

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<v SPEAKER_01>It's on Houston.

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<v SPEAKER_01>Yeah, I sold um my bags.

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<v SPEAKER_01>I would go every Sunday, put my little table, and I was producing everything in New York, one almost like one of a kind, to be honest, just to kind of test out my concept and see if it if it resonated.

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<v SPEAKER_01>And I was doing really well back then.

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<v SPEAKER_01>There was still no D2C.

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<v SPEAKER_01>That wasn't really, it was more like a wholesale-driven business, but it was doing really well.

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<v SPEAKER_01>And so that I after doing that for a little bit, I decided that I was gonna go back and wait.

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<v SPEAKER_00>I have so many questions.

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<v SPEAKER_00>How did you know that you wanted to do handbags?

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<v SPEAKER_00>How did you know you wanted to do leather bags?

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<v SPEAKER_00>How did you know what the DNA of what your brand was gonna be?

00:12:21.759 --> 00:12:25.679
<v SPEAKER_00>How did you know that it was going to you were gonna call it after yourself?

00:12:25.840 --> 00:12:29.519
<v SPEAKER_00>Like, how did you go through all of that to get to that point?

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<v SPEAKER_01>So there's a lot of there's a lot of stories here.

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<v SPEAKER_01>We could probably spend the whole day, but I'll make it brief.

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<v SPEAKER_01>So I'll make it really brief.

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<v SPEAKER_01>I picked the concept to my bags from working in New York.

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<v SPEAKER_01>So working in New York, you went to the office, and then after the office, you probably had some after-work event.

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<v SPEAKER_01>And I always found it really just not great to bring a giant tote into a night event.

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<v SPEAKER_01>So I wanted to be able to create bags that could come go from day to night.

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<v SPEAKER_01>That was ultimately what I wanted to solve.

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<v SPEAKER_00>I never believed that's a that that exists day to night reality.

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<v SPEAKER_00>It's like one of those things you think going in.

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<v SPEAKER_00>Exactly.

00:13:07.840 --> 00:13:10.639
<v SPEAKER_00>So that's what you have to you have to try, you know.

00:13:10.879 --> 00:13:12.320
<v SPEAKER_00>That's I mean, how old were you?

00:13:12.480 --> 00:13:13.759
<v SPEAKER_00>You were in your mid-20s?

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<v SPEAKER_00>Of course, you would be the one to create the the day to night bag that nobody else has done, the solution bag of all solution bags.

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<v SPEAKER_00>Yeah, why not?

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<v SPEAKER_00>Why not?

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<v SPEAKER_00>I so stand by that.

00:13:24.320 --> 00:13:26.240
<v SPEAKER_00>Like, of course, I'm gonna be the one who does that.

00:13:26.480 --> 00:13:31.759
<v SPEAKER_01>At that age, I still I still think at that age, I would still think about it the same way because you really want that.

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<v SPEAKER_01>So I yeah, it was literally two bags in one.

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<v SPEAKER_01>And so the idea was that you left your tote at the office and you took your night bag, and the next day you came to the office and you had your tote.

00:13:39.759 --> 00:13:40.960
<v SPEAKER_01>That was the whole concept.

00:13:41.519 --> 00:13:44.000
<v SPEAKER_01>So that was the the the idea behind that.

00:13:44.080 --> 00:13:48.080
<v SPEAKER_01>The name originally was not supposed to be my name, it was supposed to be another name.

00:13:48.240 --> 00:13:59.840
<v SPEAKER_01>I trademarked it, and when I trademarked it, it turns out that the name, the original name I had was attached to a whole scandal in Europe.

00:14:00.000 --> 00:14:01.279
<v SPEAKER_01>So what was it?

00:14:02.000 --> 00:14:04.480
<v SPEAKER_01>It was my grandfather's last name, Zahia.

00:14:05.360 --> 00:14:11.679
<v SPEAKER_01>And there was a whole scenario with the French government and this woman and an affair.

00:14:11.840 --> 00:14:15.519
<v SPEAKER_01>There was this whole drama happening around, she had the same name.

00:14:16.879 --> 00:14:24.240
<v SPEAKER_01>And so my attorney was like, You can't, but they're gonna Google you or they're gonna search for you, and that's what's coming up.

00:14:24.480 --> 00:14:27.919
<v SPEAKER_01>So I ended up putting my name, and that's how my name story came about.

00:14:28.320 --> 00:14:30.960
<v SPEAKER_01>So there I it was interesting to to do that.

00:14:31.279 --> 00:14:34.159
<v SPEAKER_00>But you could have saved yourself some money on that before.

00:14:34.720 --> 00:14:37.759
<v SPEAKER_00>I should have been like, I should have just put my name from the beginning.

00:14:37.840 --> 00:14:39.759
<v SPEAKER_00>So you should have Googled your own name.

00:14:40.639 --> 00:14:45.360
<v SPEAKER_01>That's where the beginning learning curves start when you start building a business, right?

00:14:45.440 --> 00:14:48.559
<v SPEAKER_01>Uh, that you'd really it's everything is a journey.

00:14:48.720 --> 00:14:52.000
<v SPEAKER_01>So so that's how the business started.

00:14:52.639 --> 00:14:57.200
<v SPEAKER_01>And yeah, it started with that and and some financials.

00:14:57.279 --> 00:15:03.759
<v SPEAKER_01>To be honest, that at that time the financials were your bags were expensive.

00:15:03.919 --> 00:15:05.519
<v SPEAKER_00>I remember they were not cheap.

00:15:05.919 --> 00:15:14.720
<v SPEAKER_00>No, they were not, and no, no, and again, someone at that time, at that age, making their bags in New York.

00:15:14.960 --> 00:15:20.240
<v SPEAKER_00>It's to you as to one to a designer, it's very black and white.

00:15:20.799 --> 00:15:35.759
<v SPEAKER_00>Okay, here's what markup is, here's what I'm supposed to make, here's what the stores are selling at, what it will sell for, or my competitive analysis to be competitive is really irrelevant because this is me, this is my brand.

00:15:36.000 --> 00:15:39.600
<v SPEAKER_00>It's not my problem if people can't afford it because this is what it should be.

00:15:40.000 --> 00:15:40.639
<v SPEAKER_00>Exactly.

00:15:41.360 --> 00:15:45.600
<v SPEAKER_00>So it's like, because girl, we have all been there.

00:15:46.000 --> 00:15:47.840
<v SPEAKER_00>Like, we've all been there.

00:15:48.000 --> 00:15:55.679
<v SPEAKER_00>Like my little handbags were the size of your hand, and I'm like, they will want to spend four, five, six, seven, eight hundred dollars.

00:15:55.840 --> 00:16:06.320
<v SPEAKER_00>You know, the numbers kept going, and then you are humbled quickly when a retailer's like, that should be like 190 bucks if you're lucky, and you're like, What?

00:16:06.799 --> 00:16:07.840
<v SPEAKER_00>How dare you?

00:16:08.159 --> 00:16:08.480
<v SPEAKER_00>What?

00:16:08.639 --> 00:16:14.799
<v SPEAKER_00>No, you're wrong, you know, and then you're like coming back six months later, okay, whatever you said.

00:16:15.120 --> 00:16:43.600
<v SPEAKER_01>Yeah, no, and not only that, but I think it comes down to also, I I think this is my opinion, but there's an art to sourcing, and I think that's where design and manufacturing are not great friends because it's all about how you source and where you source and how you which is not necessarily what a creative mind wants to hear, because it then it goes back to maybe jeopardizing the design.

00:16:44.080 --> 00:16:46.159
<v SPEAKER_01>That's where the whole debate starts.

00:16:46.879 --> 00:16:48.480
<v SPEAKER_00>Yeah, yeah, exactly.

00:16:48.639 --> 00:17:21.119
<v SPEAKER_00>It is a very strange dance back and forth of like, because you know, I've dealt with gosh, I I've dealt with a handful of designers who, you know, at the newer stage, call their products number one couture, call their products one of a kind, say that their bags are worthy of being eight, nine thousand hundred dollars, people are sick of their Louis and Gucci, that people are excited to carry their product because it's new.

00:17:21.440 --> 00:17:27.359
<v SPEAKER_00>And the reality is those all might be true, but those all might be true for a very small space.

00:17:27.599 --> 00:17:34.880
<v SPEAKER_00>If you want more than those three people to be buying, you need to actually do the homework, do the research, learn the hard way, you know?

00:17:35.119 --> 00:17:35.599
<v SPEAKER_00>Correct.

00:17:35.839 --> 00:17:37.279
<v SPEAKER_00>Correct, correct.

00:17:37.599 --> 00:17:44.319
<v SPEAKER_00>So it's one of those things that you don't know until you're like, oh, and that's the learning curve, right?

00:17:44.559 --> 00:17:45.519
<v SPEAKER_01>That's a learning curve.

00:17:45.599 --> 00:17:50.160
<v SPEAKER_01>And honestly, obviously, I think the learning curve has changed a lot.

00:17:50.480 --> 00:17:57.519
<v SPEAKER_01>There's things that are easier now than it was back when we did it, but there are things now that are a lot harder than when we did it, right?

00:17:57.680 --> 00:18:02.720
<v SPEAKER_01>Like you have all these different channels of distribution, which we didn't have access to.

00:18:02.799 --> 00:18:13.359
<v SPEAKER_01>So the cost to build a brand is much higher than probably what we went through when we started it, because there's more places to sell that require more investment.

00:18:14.079 --> 00:18:21.599
<v SPEAKER_00>Also, there's more platforms that you need to promote, and also there's less media properties to try and get your bag placed.

00:18:22.000 --> 00:18:31.440
<v SPEAKER_00>So yeah, you have to have your own channel stronger than having anybody else trying to reshare your story.

00:18:31.759 --> 00:18:32.640
<v SPEAKER_01>Correct, correct.

00:18:32.799 --> 00:18:36.240
<v SPEAKER_01>Because back then we were trying to do it based on press, right?

00:18:36.400 --> 00:18:37.759
<v SPEAKER_01>And press was everything.

00:18:37.920 --> 00:18:42.319
<v SPEAKER_01>There wasn't all these other sources like TikTok and social media and all that.

00:18:42.559 --> 00:18:47.440
<v SPEAKER_01>So I think the way that brands have to build now, it's it's a lot tougher, in my opinion.

00:18:47.519 --> 00:18:48.880
<v SPEAKER_01>There it is a little more challenging.

00:18:50.160 --> 00:18:52.799
<v SPEAKER_01>And it's obviously it's more competitive, way more.

00:18:53.839 --> 00:18:57.759
<v SPEAKER_00>So, how many years did your eponymous line go?

00:18:58.160 --> 00:19:05.279
<v SPEAKER_01>I had it for four years, three and a half, four years, I think was the the ended up being the number.

00:19:05.599 --> 00:19:19.759
<v SPEAKER_01>And I think the key to the success of that project was really when I was able to source it outside and and do everything out of one place, the materials, the build-out, and that was when I moved it to Colombia.

00:19:20.000 --> 00:19:26.079
<v SPEAKER_01>If I had started there from the beginning, I probably would have had a better chance to what we were talking about.

00:19:26.640 --> 00:19:27.599
<v SPEAKER_01>A fighting chance.

00:19:27.839 --> 00:19:28.240
<v SPEAKER_01>Yeah.

00:19:28.480 --> 00:19:34.559
<v SPEAKER_01>Regarding cost and markups and how the market was expecting the price to be, yeah, it probably would have.

00:19:34.720 --> 00:19:39.119
<v SPEAKER_01>Yeah, that was probably the one thing that if I had to do all over again, I would have done it that way.

00:19:39.759 --> 00:19:44.880
<v SPEAKER_00>If you ever wanted to start a handbag brand and didn't know where to start, this is for you.

00:19:45.119 --> 00:19:50.559
<v SPEAKER_00>If you had dreams of becoming a handbag designer but aren't trained in design, this is for you.

00:19:50.720 --> 00:19:55.119
<v SPEAKER_00>If you have a handbag brand and need strategy and direction, this is for you.

00:19:55.359 --> 00:20:03.839
<v SPEAKER_00>I'm Emily Blumenthal, handbag designer expert and handbag fairy godmother, and this is the handbag designer 101 masterclass.

00:20:04.079 --> 00:20:10.799
<v SPEAKER_00>Over the next 10 classes, I will break down everything you need to know to make, manufacture, and market a handbag brand.

00:20:10.960 --> 00:20:20.240
<v SPEAKER_00>Broken down to ensure that you will not only skip steps in the handbag building process, but also to save money to avoid the learning curve of costly mistakes.

00:20:20.480 --> 00:20:31.279
<v SPEAKER_00>For the past 20 years, I've been teaching at the top fashion universities in New York City, wrote the handbag designer Bible, founded the handbag awards, and created the only handbag designer podcast.

00:20:31.519 --> 00:20:37.920
<v SPEAKER_00>I'm going to show you like I have countless brands to create in this in-depth course, from sketch to sample to sale.

00:20:38.160 --> 00:20:48.319
<v SPEAKER_00>Whether you're just starting out and don't even know where to start up again, or if you've had a brand and need some strategic direction, the handbag designer 101 Masterclass is just for you.

00:20:48.559 --> 00:20:52.000
<v SPEAKER_00>So let's get started, and you'll be the creator of the next it bag.

00:20:52.160 --> 00:20:56.559
<v SPEAKER_00>Join me, Emily Blumenthal, in the Handbag Designer 101 Masterclass.

00:20:56.799 --> 00:21:08.559
<v SPEAKER_00>So be sure to sign up at Emily Blumenthal.com slash masterclass and type in the code I'mCast to get 10% off your masterclass today.

00:21:13.359 --> 00:21:15.839
<v SPEAKER_00>So I need to know this.

00:21:16.480 --> 00:21:23.440
<v SPEAKER_00>When did you have the courage, or was this not an emotionally charged decision to say when?

00:21:24.079 --> 00:21:30.160
<v SPEAKER_00>Because to me, your brand was much longer than four years.

00:21:30.400 --> 00:21:31.759
<v SPEAKER_00>Like to me, it was 14.

00:21:31.920 --> 00:21:34.640
<v SPEAKER_00>To me, it was 24, 34, 104.

00:21:35.119 --> 00:21:36.079
<v SPEAKER_00>It was long.

00:21:36.960 --> 00:21:37.680
<v SPEAKER_01>It was long.

00:21:38.160 --> 00:21:41.920
<v SPEAKER_01>Honestly, I think every brand goes through a phase, right?

00:21:42.000 --> 00:21:42.960
<v SPEAKER_01>Every there's phases.

00:21:43.039 --> 00:21:49.920
<v SPEAKER_01>And if you in every phase, there's a growth, and you have to be able to feed capital into that growth.

00:21:50.319 --> 00:21:57.359
<v SPEAKER_01>And there is a game between debt and is this growth gonna require debt that I'm not gonna be able to get out of it?

00:21:57.519 --> 00:21:59.359
<v SPEAKER_01>Like I I I'm very practical.

00:22:00.240 --> 00:22:02.079
<v SPEAKER_01>And what number child are you?

00:22:02.400 --> 00:22:03.279
<v SPEAKER_01>I'm one.

00:22:03.359 --> 00:22:04.160
<v SPEAKER_01>There's no more.

00:22:04.960 --> 00:22:05.920
<v SPEAKER_00>Oh, it's just you.

00:22:06.079 --> 00:22:07.359
<v SPEAKER_00>Oh, so okay.

00:22:07.680 --> 00:22:09.839
<v SPEAKER_00>So everything revolved around you.

00:22:09.920 --> 00:22:10.640
<v SPEAKER_00>And okay.

00:22:10.960 --> 00:22:12.720
<v SPEAKER_00>So that makes sense.

00:22:12.960 --> 00:22:24.079
<v SPEAKER_00>No, it's a very interesting story to dictate how people make decisions and how practical they are, or how spontaneous they are, or what are the reasons?

00:22:24.240 --> 00:22:25.440
<v SPEAKER_00>What's their why?

00:22:25.920 --> 00:22:39.839
<v SPEAKER_00>So for you to come to that crossroads, because four years is pretty accurate to say, okay, I'm either gonna have to really go dive deep, yeah, or it's time for a pivot and moving on.

00:22:40.000 --> 00:22:40.400
<v SPEAKER_00>Exactly.

00:22:40.720 --> 00:22:41.759
<v SPEAKER_00>Which is wild.

00:22:42.160 --> 00:22:52.640
<v SPEAKER_01>Yeah, because the level of capital that I needed, it was not something that I at that time I understood or had the access to know where to find it.

00:22:52.960 --> 00:23:03.599
<v SPEAKER_01>So I just thought this is the best time to to have an exit and have a clean exit and have like a very just say it served this purpose and and go on to the next one.

00:23:03.839 --> 00:23:05.519
<v SPEAKER_01>And and that's what I did.

00:23:05.680 --> 00:23:20.000
<v SPEAKER_01>And honestly, I don't I don't regret it at all that I ended it when I ended it, but it definitely left a lot of a lot of experience to what I apply to today, honestly.

00:23:20.160 --> 00:23:23.119
<v SPEAKER_01>So I bring a lot of that experience into my today.

00:23:23.759 --> 00:23:26.960
<v SPEAKER_00>So how did you wrap it up?

00:23:27.119 --> 00:23:28.640
<v SPEAKER_00>Did you keep going on the side?

00:23:28.799 --> 00:23:30.640
<v SPEAKER_00>Did you look for a day job?

00:23:30.960 --> 00:23:34.960
<v SPEAKER_00>Were you like emotional about having to get a day job?

00:23:35.119 --> 00:23:38.160
<v SPEAKER_00>Like, how did you handle the next phase?

00:23:38.400 --> 00:23:42.400
<v SPEAKER_00>Because most people kind of go to this dark place.

00:23:42.720 --> 00:23:43.039
<v SPEAKER_00>Yeah.

00:23:43.200 --> 00:23:55.440
<v SPEAKER_00>As difficult as it is to, especially having a design business, being a designer, running this and realizing that you live off of fumes as a handbag designer.

00:23:55.599 --> 00:23:56.960
<v SPEAKER_00>Truly, it's 24-7.

00:23:57.279 --> 00:23:58.640
<v SPEAKER_00>There is no time you're off.

00:23:58.720 --> 00:24:01.279
<v SPEAKER_00>You have to answer every email.

00:24:01.359 --> 00:24:05.119
<v SPEAKER_00>And if you're get to a point of hiring someone, then you're accountable for them.

00:24:05.279 --> 00:24:06.799
<v SPEAKER_00>It's there's so much.

00:24:07.359 --> 00:24:20.559
<v SPEAKER_00>But then moving on to that next chapter, it's almost like a mourning period that you you have failed, or you have, you know, this didn't work, or now I have a day job and I have to answer to somebody else.

00:24:20.720 --> 00:24:23.519
<v SPEAKER_00>Like all that's it, it is a hard transition.

00:24:23.920 --> 00:24:25.839
<v SPEAKER_01>It's definitely a hard transition.

00:24:26.000 --> 00:24:36.880
<v SPEAKER_01>To me, it was a very hard transition because, like you're saying, there's a point where your brand or your company, it doesn't matter if it's a handbag or whatever it is, becomes your identity.

00:24:37.119 --> 00:24:41.599
<v SPEAKER_01>And so there's no longer an Alex and a brand or a brand and Alex.

00:24:41.759 --> 00:24:45.759
<v SPEAKER_01>It was everything was out, like the brand had become my life.

00:24:46.000 --> 00:24:50.960
<v SPEAKER_01>And so it's almost like redefining your life and rethinking what is it you want out of life.

00:24:51.279 --> 00:25:10.400
<v SPEAKER_01>I think two things that I think are very important about having a business in general, and I value it even more now, having my second business, is that you get to meet people constantly, people who maybe nothing's gonna come out of it at that moment, but your exposure to people while you're an entrepreneur is one of a kind.

00:25:10.559 --> 00:25:13.680
<v SPEAKER_01>You'll never get that when you have a job.

00:25:13.920 --> 00:25:17.519
<v SPEAKER_01>You don't get to just meet people randomly all the time.

00:25:17.759 --> 00:25:30.079
<v SPEAKER_01>And why I'm saying this is because when I decided to do this, I had the opportunity while I was building my own company to have met another designer who was building his own company.

00:25:30.400 --> 00:25:35.440
<v SPEAKER_01>And I was lucky enough that when I met him, I was very upfront.

00:25:35.519 --> 00:25:45.759
<v SPEAKER_01>I told him that I was, you know, winding down and he was looking for help, and his company had raised the capital that they needed to go to the next phase.

00:25:46.000 --> 00:25:59.119
<v SPEAKER_01>And so the the transition was very seamless in that aspect because I went from my company being a startup brand and apparel in handbags to moving into another startup apparel brand.

00:25:59.279 --> 00:26:04.799
<v SPEAKER_01>But I went more towards after having my own brand, I realized what I really was passionate about.

00:26:04.880 --> 00:26:09.039
<v SPEAKER_01>And I love operations, I love running a business, I love finance.

00:26:09.440 --> 00:26:13.039
<v SPEAKER_01>And that's where I started making my pivot.

00:26:13.200 --> 00:26:24.720
<v SPEAKER_01>And so, with that opportunity that literally came from my meeting people while I was having my own company, I was able to now start building my next phase of my career.

00:26:24.880 --> 00:26:37.279
<v SPEAKER_01>So even though it was really hard to let go of mine and being in control of mine, I do consider myself lucky that I was able to find a brand that respected my experience and value what I had to bring.

00:26:37.519 --> 00:26:41.359
<v SPEAKER_01>And it felt very seamless to do that transition.

00:26:42.000 --> 00:26:47.119
<v SPEAKER_00>Was it hard to, as much of a quote unquote partner he was?

00:26:47.440 --> 00:26:54.319
<v SPEAKER_00>Was it hard to answer to someone else or be accountable for your time if you were gonna now get paid by?

00:26:54.799 --> 00:26:55.599
<v SPEAKER_00>Was that hard?

00:26:55.759 --> 00:27:00.880
<v SPEAKER_00>Or you were already on soldier mode, like, okay, this is it, I'm good with it.

00:27:01.119 --> 00:27:02.640
<v SPEAKER_00>Because it can't be easy.

00:27:02.960 --> 00:27:10.160
<v SPEAKER_01>No, I think what was hard about it was not that because honestly, like I I that this person really trusted me a lot.

00:27:10.400 --> 00:27:15.440
<v SPEAKER_01>It was more about this was when I was introduced to the investor world.

00:27:15.920 --> 00:27:19.759
<v SPEAKER_01>So this was not a self-funded company at this point.

00:27:19.920 --> 00:27:29.759
<v SPEAKER_01>This was now we have investors to report to, and that's when I really started learning about that world and how that works, right?

00:27:29.920 --> 00:27:43.359
<v SPEAKER_01>And and what is expected of a business when you do have a board and when you do have investors and they have their own, also, I don't want to call it agenda because that sounds like negative, but they also have their own purpose to get investment, right?

00:27:44.319 --> 00:27:51.039
<v SPEAKER_00>And and you know, the one thing that people tend to forget that business is transactional.

00:27:51.279 --> 00:28:03.200
<v SPEAKER_00>It is, yes, there's human capital, but if I'm putting money in, I not only want my money back, I want more money for me taking the risk that I invested in you.

00:28:03.440 --> 00:28:03.839
<v SPEAKER_00>Correct.

00:28:04.079 --> 00:28:08.880
<v SPEAKER_00>So it is black and white, like point blank, like there is no gray.

00:28:09.039 --> 00:28:12.000
<v SPEAKER_00>Yeah, I am working with you to make money.

00:28:12.240 --> 00:28:27.359
<v SPEAKER_00>And you know what a lot of people tend to forget once they start getting their own business, if after that passes, that the business for whom you go next, they're looking at you as are you going to cover your share?

00:28:27.519 --> 00:28:34.559
<v SPEAKER_00>The money I'm paying you, are you gonna bring that in X whatever to make sure that I can justify having hired you?

00:28:34.799 --> 00:28:40.880
<v SPEAKER_00>And people tend to forget like that is what how you define business, correct?

00:28:41.119 --> 00:28:45.359
<v SPEAKER_01>So that was really the learning curve from this experience.

00:28:45.519 --> 00:28:47.279
<v SPEAKER_01>Honestly, it was a shift, right?

00:28:47.440 --> 00:28:57.039
<v SPEAKER_01>I went from being an owner of my own company and making a lot of my decisions, but I really didn't have true investors.

00:28:57.119 --> 00:29:03.440
<v SPEAKER_01>Uh, this were institutional investors, this was not angel investors, this were like a real institution.

00:29:03.759 --> 00:29:08.160
<v SPEAKER_01>So that's very different, very different, very different approach, period.

00:29:08.319 --> 00:29:12.960
<v SPEAKER_01>But again, every piece was building up to where I am.

00:29:13.119 --> 00:29:15.279
<v SPEAKER_01>And looking back now, it all makes sense.

00:29:15.440 --> 00:29:25.519
<v SPEAKER_01>In the moment, I thought, you know, my life is just feels very scattered, and there's no, like, I went from building my own business to like now I'm in this other company.

00:29:25.599 --> 00:29:27.119
<v SPEAKER_01>Like, what is the story that I'm telling?

00:29:27.200 --> 00:29:34.720
<v SPEAKER_01>And you know, when you go look for a job, then uh recruiters are always like, Well, there's no fluidity to your resume.

00:29:35.039 --> 00:29:49.440
<v SPEAKER_01>And there was never going to be, because when I took the entrepreneur path, that's the end of fluidity because you go from having to do every single role and becoming an expert at everything to then having to now you need to fit into a box.

00:29:49.680 --> 00:29:55.440
<v SPEAKER_01>And I was that's been my child, I was never able to fit into another box after I had my first business.

00:29:58.880 --> 00:30:00.559
<v SPEAKER_00>I there's no box.

00:30:00.720 --> 00:30:02.240
<v SPEAKER_00>I don't, I don't have a box.

00:30:02.559 --> 00:30:05.440
<v SPEAKER_00>No, no, I I I flow box free.

00:30:05.680 --> 00:30:08.319
<v SPEAKER_00>So, you know, it's funny.

00:30:08.480 --> 00:30:17.440
<v SPEAKER_00>I um I had this conversation with my students about discussing this construct of what exactly is a bottleneck, and no one knew.

00:30:17.599 --> 00:30:20.799
<v SPEAKER_00>And I said, Okay, who drinks beer?

00:30:20.960 --> 00:30:24.319
<v SPEAKER_00>You know, hands go up and then define the bottle of a beer.

00:30:24.480 --> 00:30:27.759
<v SPEAKER_00>Okay, well, there's the top that's skinny, then it goes to the bottom.

00:30:27.920 --> 00:30:35.839
<v SPEAKER_00>Okay, so the skinny part is about the bottleneck where you're trying to get the big part out through the little part when it's all rushing at the same time.

00:30:36.000 --> 00:30:37.759
<v SPEAKER_00>Think about that as your business.

00:30:37.920 --> 00:30:42.480
<v SPEAKER_00>Okay, now put that and think about that in a box, and they're like, whoa, mind blown.

00:30:42.720 --> 00:30:46.240
<v SPEAKER_00>So, you know, how did your cohort start?

00:30:46.319 --> 00:30:49.200
<v SPEAKER_00>Or I I keep calling it your cohort, it is your cohort, right?

00:30:49.440 --> 00:30:49.839
<v SPEAKER_00>Yeah, you got it.

00:30:50.480 --> 00:30:54.480
<v SPEAKER_00>Okay, I would keep calling it for my cohort, the cohort, our cohort.

00:30:54.559 --> 00:30:56.079
<v SPEAKER_00>We're all cohorting with Alex.

00:30:56.319 --> 00:30:56.880
<v SPEAKER_01>Go on.

00:30:57.200 --> 00:31:00.720
<v SPEAKER_01>Another name that I should have thought about, but anyway, I had a concept.

00:31:00.799 --> 00:31:05.440
<v SPEAKER_01>I guess my concepts are just should be state to me, and I should find brand new people.

00:31:05.920 --> 00:31:06.640
<v SPEAKER_01>How did we start?

00:31:06.799 --> 00:31:11.359
<v SPEAKER_01>Honestly, so I so you were with this guy, yeah.

00:31:11.440 --> 00:31:13.440
<v SPEAKER_01>But then how did that wrap up?

00:31:13.759 --> 00:31:17.200
<v SPEAKER_01>I I did a lot of things in between that venture and this.

00:31:17.359 --> 00:31:19.279
<v SPEAKER_01>So I ended up going to my MBA.

00:31:19.359 --> 00:31:21.920
<v SPEAKER_01>I did my MBA and NYU right after that.

00:31:22.079 --> 00:31:28.240
<v SPEAKER_01>Because I had an illustration background, I couldn't really practice finance or business.

00:31:28.400 --> 00:31:33.680
<v SPEAKER_01>Like, I couldn't aim to be probably a COO or CEO because I didn't have the background.

00:31:33.920 --> 00:31:37.039
<v SPEAKER_01>So went to Stern, got my MBA.

00:31:37.200 --> 00:31:41.119
<v SPEAKER_01>I did end up while I was doing my MBA, I was working at Coach.

00:31:41.200 --> 00:31:51.839
<v SPEAKER_01>So that was my last true fashion, if you want to call it stint, like real, the true, true original group of fashion houses in New York.

00:31:52.000 --> 00:31:54.400
<v SPEAKER_01>And were you with the investor relations team?

00:31:54.640 --> 00:31:56.720
<v SPEAKER_01>No, I was in production and sourcing.

00:31:57.039 --> 00:31:57.759
<v SPEAKER_01>Oh wow.

00:31:58.000 --> 00:31:58.319
<v SPEAKER_01>Okay.

00:31:58.880 --> 00:31:59.680
<v SPEAKER_01>Interesting.

00:31:59.920 --> 00:32:00.319
<v SPEAKER_01>Yeah.

00:32:00.559 --> 00:32:01.359
<v SPEAKER_01>Interesting.

00:32:01.759 --> 00:32:02.960
<v SPEAKER_01>I was in that side.

00:32:03.279 --> 00:32:10.400
<v SPEAKER_01>So I left Coach, finished my MBA when I at the same time that I finished my MBA, went on to work for marketing.

00:32:10.720 --> 00:32:12.240
<v SPEAKER_01>Yeah, it's a marketing agency.

00:32:12.319 --> 00:32:13.680
<v SPEAKER_01>Uh let's just put it that way.

00:32:13.920 --> 00:32:22.400
<v SPEAKER_01>I ended up because they they were they were more focused on like promotional aspects of business and um brand building, but right.

00:32:23.519 --> 00:32:26.559
<v SPEAKER_01>So I was with them, great experience.

00:32:26.799 --> 00:32:32.400
<v SPEAKER_01>That's where I really started learning about services and operations and finance.

00:32:32.880 --> 00:32:39.759
<v SPEAKER_01>That was really that, like, I guess you could call it my preschooling before I built my business.

00:32:39.920 --> 00:32:42.720
<v SPEAKER_01>I left there, went back to doing venture.

00:32:42.880 --> 00:32:51.279
<v SPEAKER_01>So I worked for uh VC back companies of just because the one that I worked on prior, the the one after my handbags, that was also venture back.

00:32:51.839 --> 00:33:06.559
<v SPEAKER_01>So went back to venture back company, did that, and in the middle of doing that, I started doing advisory like work for startups that were needing financial or operational support.

00:33:06.960 --> 00:33:13.279
<v SPEAKER_01>And I did that along the side of my full-time job, probably for almost a year and a half or two.

00:33:14.000 --> 00:33:18.640
<v SPEAKER_01>And back to the box, I didn't feel like I belonged in a box.

00:33:18.960 --> 00:33:24.400
<v SPEAKER_01>I wanted to take some time, and I said, you know what, I'm just gonna do this advisory consulting.

00:33:24.559 --> 00:33:26.799
<v SPEAKER_01>This was before fractionals was a thing.

00:33:27.039 --> 00:33:31.359
<v SPEAKER_01>I said, I'm gonna You're like, let me just do this for me to figure out what I should do.

00:33:31.519 --> 00:33:34.799
<v SPEAKER_01>And then I wanted to take take some time off.

00:33:35.039 --> 00:33:47.599
<v SPEAKER_01>And so I did that, and you know, one thing after another, like I said, you never know who you meet along the way, and the doors that open, that's the beauty of entrepreneurship, honestly, is the people.

00:33:47.839 --> 00:33:57.440
<v SPEAKER_01>It's the most beautiful thing about entrepreneurship is your ability to connect with people that open doors, and the creativity is different as an entrepreneur.

00:33:57.519 --> 00:34:05.519
<v SPEAKER_01>The creativity comes from meeting this other people and opportunities and conversations surging out of them.

00:34:05.599 --> 00:34:07.279
<v SPEAKER_01>And that's how the ideas come about.

00:34:07.359 --> 00:34:08.639
<v SPEAKER_01>Like, oh my god, what if we do this?

00:34:08.800 --> 00:34:10.320
<v SPEAKER_01>Oh my god, what if we do that?

00:34:10.559 --> 00:34:19.599
<v SPEAKER_01>And then really you what you start building is just really beautiful because it's yours and can be replicated in the way that you're thinking about things.

00:34:19.679 --> 00:34:24.639
<v SPEAKER_01>So I think that's the beauty of entrepreneurship to meet people and meet opportunities.

00:34:25.119 --> 00:34:30.159
<v SPEAKER_00>So just so our lovely listeners, what does fractional mean?

00:34:30.320 --> 00:34:32.559
<v SPEAKER_00>What you said, just to explain that.

00:34:32.800 --> 00:34:33.199
<v SPEAKER_01>Yeah.

00:34:33.519 --> 00:34:39.840
<v SPEAKER_01>So a fractional, it's it's a different form, it's another realm of consulting.

00:34:40.000 --> 00:34:48.400
<v SPEAKER_01>But uh from a fractional is someone who is embedded in a business, but is not a full-time employee, it's not a part-time employee.

00:34:48.800 --> 00:34:50.480
<v SPEAKER_01>There's different ways to approach it.

00:34:50.559 --> 00:34:56.079
<v SPEAKER_01>It can be a strategic partner that is there for a few hours or for a sole purpose, right?

00:34:56.159 --> 00:35:01.280
<v SPEAKER_01>Like I'm hiring you to help me in do a pricing analysis, right?

00:35:01.599 --> 00:35:09.119
<v SPEAKER_01>Or someone who's helping you establish certain practices and certain disciplines, but we're there for a period of time with a particular goal.

00:35:09.280 --> 00:35:12.559
<v SPEAKER_01>And it's never meant that the fractional stays there forever.

00:35:12.719 --> 00:35:13.679
<v SPEAKER_01>Like you should leave.

00:35:13.840 --> 00:35:16.159
<v SPEAKER_00>So it's like a drive-by CFO.

00:35:16.320 --> 00:35:27.599
<v SPEAKER_00>Someone comes in, helps you get launched, and then at some point you find another CFO or the company goes into right, or the company goes into some sort of transition.

00:35:27.760 --> 00:35:27.920
<v SPEAKER_00>Yeah.

00:35:28.480 --> 00:35:43.039
<v SPEAKER_00>So it's a great way to bring on someone, not as a full-time, because perhaps your budget won't allow it, or the company isn't at a stage, but you absolutely need someone to be there in some shape or form, but not on a full-time basis.

00:35:43.280 --> 00:35:43.679
<v SPEAKER_00>Right.

00:35:43.920 --> 00:35:54.239
<v SPEAKER_00>So I think a lot of people don't understand that that is an option while growing their business, and they get really overwhelmed and believing, like, oh, I can't afford this.

00:35:54.320 --> 00:36:07.519
<v SPEAKER_00>And maybe you just need someone to be at the top who has the chops and the experience, that it's a good way to say, I just need a fractional CFO or a fractional CEO for that matter.

00:36:07.760 --> 00:36:11.280
<v SPEAKER_00>It's a great thing to know that that exists, and it's so funny.

00:36:11.599 --> 00:36:17.119
<v SPEAKER_00>I was having a conversation with someone about this like a week or so ago, that like, oh, just get a fractional.

00:36:17.280 --> 00:36:23.679
<v SPEAKER_00>And it's so funny just to throw that term around and it's understood, like, yeah, fine, someone just to fill the slot just for now.

00:36:23.840 --> 00:36:24.880
<v SPEAKER_00>You'll be okay.

00:36:25.119 --> 00:36:26.239
<v SPEAKER_00>Like they exist.

00:36:26.400 --> 00:36:30.320
<v SPEAKER_00>There are plenty of people who are established who don't want that full-time position anymore.

00:36:30.480 --> 00:36:33.840
<v SPEAKER_00>They're like, just bring me in for this, and then I can keep moving.

00:36:34.079 --> 00:36:34.559
<v SPEAKER_01>Correct.

00:36:34.719 --> 00:36:39.519
<v SPEAKER_01>And so, and also maybe you just need a specific skill set for a period of time, right?

00:36:39.599 --> 00:36:42.320
<v SPEAKER_01>Or someone who has a certain experience in something.

00:36:42.559 --> 00:36:46.880
<v SPEAKER_01>I definitely think small brands should be getting like inventory.

00:36:47.360 --> 00:36:49.440
<v SPEAKER_01>Uh, what are you and I blacked out?

00:36:49.599 --> 00:36:56.400
<v SPEAKER_01>But one of the things that I think there should be more fractional of is people who help brands build their inventory and their buyers.

00:36:56.559 --> 00:37:01.599
<v SPEAKER_01>There should be more of those because I think that that is a huge gap.

00:37:01.840 --> 00:37:09.119
<v SPEAKER_01>So I'm just saying, yeah, we have a lot of marketing people and a lot of CFOs, but there aren't enough fractional buyers and planners.

00:37:09.199 --> 00:37:10.559
<v SPEAKER_01>That's what I was trying to look for.

00:37:10.800 --> 00:37:17.280
<v SPEAKER_01>Those should be the ones that brands should be looking at because I think that helps you think through your buying at an early stage, by the way.

00:37:17.519 --> 00:37:17.840
<v SPEAKER_01>Yep.

00:37:18.000 --> 00:37:18.559
<v SPEAKER_01>Oh my god.

00:37:18.800 --> 00:37:20.159
<v SPEAKER_00>I'm just throwing that out there.

00:37:20.480 --> 00:37:21.679
<v SPEAKER_00>No, no, no, no.

00:37:21.760 --> 00:37:25.599
<v SPEAKER_00>I I am like, this is like the most enriching conversation.

00:37:25.920 --> 00:37:34.159
<v SPEAKER_00>I absolutely want to have you back to do a state of the union in terms of what's going on from the financial side, especially from where you sit.

00:37:34.320 --> 00:37:43.119
<v SPEAKER_00>I think our listeners could really benefit from your 360 expertise of seeing it from both sides.

00:37:43.360 --> 00:37:47.920
<v SPEAKER_00>How can we find you, follow you, connect with you, sweet Alex?

00:37:48.239 --> 00:37:51.360
<v SPEAKER_01>Yeah, so LinkedIn is the what works the best for me.

00:37:51.599 --> 00:37:53.280
<v SPEAKER_01>My name is Alexandra Santine.

00:37:53.440 --> 00:37:58.960
<v SPEAKER_01>You can connect with me on there, or you can look us up on our website, which is yourcohort.co.

00:37:59.519 --> 00:38:02.639
<v SPEAKER_01>They had already bought.com, so I have to do that co.

00:38:02.960 --> 00:38:04.320
<v SPEAKER_01>You want names.

00:38:05.199 --> 00:38:06.400
<v SPEAKER_01>Me and my names.

00:38:06.480 --> 00:38:10.159
<v SPEAKER_01>I will forever be the one who didn't do her research on the names.

00:38:10.639 --> 00:38:13.920
<v SPEAKER_01>But anyway, yeah, they can find us there.

00:38:14.159 --> 00:38:25.440
<v SPEAKER_01>And again, what I ended up building now is if it's a firm that focuses on fractional CFO work and comes from an inspiration of having built my own business.

00:38:25.679 --> 00:38:32.800
<v SPEAKER_01>If I had had a fractional CFO when I built my bags, my business would have been a lot more solid than what it was.

00:38:32.960 --> 00:38:40.159
<v SPEAKER_01>I think we underestimate the importance of numbers, especially for designers.

00:38:40.480 --> 00:38:45.440
<v SPEAKER_01>The designers should focus on being creative and bringing their concept to life.

00:38:45.599 --> 00:38:48.719
<v SPEAKER_01>And if numbers is not your strength, it's okay.

00:38:48.960 --> 00:38:59.360
<v SPEAKER_01>Find the support so that that dream can really grow as healthy and as it can truly flourish as much as it should flourish.

00:38:59.519 --> 00:39:12.800
<v SPEAKER_01>It's so sad when businesses that are beautiful products, phenomenal products, people love the product, but they didn't have the foundation financially to sustain that growth, have to close because of that.

00:39:13.280 --> 00:39:17.360
<v SPEAKER_00>So the goal is that this is amazing.

00:39:17.599 --> 00:39:24.000
<v SPEAKER_00>And just to be clear, it's sateen-sa-t-in-e, and it's yourcohort.co.

00:39:25.599 --> 00:39:25.920
<v SPEAKER_00>Co.

00:39:27.920 --> 00:39:30.320
<v SPEAKER_00>Alex, it has been an absolute delight.

00:39:30.480 --> 00:39:31.760
<v SPEAKER_00>Thank you so much.

00:39:32.320 --> 00:39:32.880
<v SPEAKER_00>Thank you.

00:39:33.039 --> 00:39:34.639
<v SPEAKER_00>Thank you so much for having me.

00:39:35.280 --> 00:39:36.239
<v SPEAKER_00>Thanks for listening.

00:39:36.400 --> 00:39:41.760
<v SPEAKER_00>Don't forget to rate and review and follow us on every single platform at handbagdesigner.

00:39:41.920 --> 00:39:42.480
<v SPEAKER_00>Thanks so much.

00:39:42.800 --> 00:39:44.079
<v SPEAKER_00>See you next time.