I recently celebrated the five-year anniversary of my college startup, Headbands of Hope, which gives a child with cancer a headband for every one sold.
I was inspired to start my company after an internship with a wish-granting organization. I discovered kids losing their hair to chemotherapy often wanted to wear headbands instead of wigs or hats.
To date, the business has done some incredible things. We’ve been featured on Good Morning America, Vanity Fair, The TODAY Show, Seventeen Magazine, Cosmopolitan and worn by countless celebrities. But, the milestone I’m most proud of is donating over 100k headbands to children’s hospitals across America and six countries.
Sometimes, when you have a business and you’re constantly looking forward, it’s hard to realize how far you’ve come. That’s why I wanted to look back at my junior year in college when I founded the company.
I’ve learned so much. I continue to learn every day (usually by making mistakes . . . but we’ll get to that later), but here are five key things I’ve learned in five years of entrepreneurship.
1. Use your resources
I started my business with a small account of funds I saved up from my Disney World internship the year before. I never sought out investors or thought about the funding I didn’t have; I looked at what was on the table for me right then and there. Beyond money, the biggest resource I had was being a college student. As a communications major, I knew very little about entrepreneurship (it took me forever even to learn how to spell it!). So, in between classes, I set up meetings and appointments with students and professors at the business school to share my idea and get their input. I started to tap every department I felt could help me: design school, textiles school, marketing department and the list goes on. Little by little, Headbands of Hope evolved into a strong startup because I used all the different areas of expertise my college had to offer.
You can always come up with a list of things you wish you had, but that’s not an efficient use of time. Instead, identify what’s right in front of you and start there. You’d be surprised what you can accomplish when you’re resourceful.
2. Take care of your people
I used to think great entrepreneurs and business owners were successful because they were all really smart and hard-working. That could still be true, but there’s a…