Melissa Clayton is the founder and CEO of motherhood jewellery manufacturer Little Tags. She is a previous CPA who is passionate about entrepreneurship and motherhood and is committed to sharing the lessons she has uncovered along the way with other women.
As of 2022, Melissa has grown Tiny Tags to a multi-million dollar small business without the need of using on any outside investment and manufacturing in the Usa. A serial entrepreneur, Melissa is also the inventor of The Matte, as witnessed on ABC’s Shark Tank and Nowadays Show’s “The Future Big Factor,” the foldable mat that lays more than a sink, creating additional counter area to use when finding completely ready.
We questioned Melissa about scaling Tiny Tags from a aspect hustle and her information for fellow female founders.
Q&A with Little Tags Founder Melissa Clayton
Q: Right before Little Tags, you ended up a CPA in the company entire world. What determined you to make the leap into starting up a business?
A: I think I was born with the entrepreneurial bug so when I saw my friends’ reactions to the initially “mommy’ necklace I made–I knew there was a little something specific there. When I started off Very small Tags all of the orders were via emails and cellphone calls so I was able to link and chat with other mothers and I liked that.
Q: I’m confident your accounting capabilities have appear in helpful while rising Small Tags. What are the common money missteps startups take?
A: Definitely accounting has served me in the early yrs and still does. I imagine a person of the most significant issues startups make is not pricing merchandise correctly which normally suggests not charging adequate. When I originally priced my solution, I calculated the value of merchandise in my pricing design but also provided my time as very well as all the other expenditures of managing a business from IT to the value of tax preparing.
Q: You are passionate about currently being open about numbers. That can be terrifying for bootstrapped startups. Why is it important?
A: I am passionate about currently being open up about figures when an individual is in a posture of giving suggestions or staying held out as an specialist in a topic. It is significant to know equally sides of the equilibrium sheet to get a genuine photograph of the wellbeing of a company. I have sat in plenty of situations where an expert provides tips and shares their 12 months-more than-yr advancement but leaves out how they are funded or how a great deal financial debt they have taken on.
I sense that if you are likely to give tips you must be willing to be transparent with your numbers.
When I was questioned to talk at the Feminine Founder Collective celebration about how to get to a million pounds in profits I shared my numbers with the audience mainly because I wished to give the total picture. I imagine other folks are reluctant to share figures due to the fact they want to appear bigger than they in fact are and I comprehend that. I felt extremely susceptible sharing my numbers but eventually felt it was truly worth it.
Q: Was there a minute when you recognized Small Tags was additional than just a side hustle?
A: The second my partner quit his work to be a part of Small Tags was certainly when this organization went from a aspect hustle to the actual deal!
Q: Your group and lifestyle at Little Tags are just as essential as the products. How have you remained legitimate to your values as a organization?
A: Our group can make it seriously simple to remain legitimate to who we are since they inspire us each working day. One particular of our staff members said previous 7 days ‘I am a much better individual from working at Tiny Tags’ and I think that definitely captures how unique our culture and our local community are.
Each individual day we get either an e-mail or DM, see a write-up or read a gift be aware that tends to make you pause to either reflect on how treasured lifestyle is or how significantly we all require each and every other. I in fact been given a text message from a buyer currently (sure lots of have my cell quantity) who purchased a Small Tags with the day of her friend’s previous chemo remedy and she wanted to make absolutely sure it arrived on the specific day. I pinch myself that men and women occur to us to commemorate this kind of extraordinary moments.
Q: Ok. We want to listen to the Meryl Streep tale.
A: I really like this tale for the reason that it is about hustling and not using no for an reply. Meryl Streep was the keynote speaker at the MA Conference for Girls and I was attending as nicely as experienced a desk at the celebration. I found the human being liable for the speakers and explained to her I had the perfect speaker reward for Meryl Streep—I signify just after all what do you give Meryl Streep? I built a breathtaking 14k gold circle pendant engraved with her 4 children’s names and just knew if she saw it that she would enjoy it.
The day of the function I hunted down the correct man or woman and handed her the Little Tags box and created her promise to hand produce it to Meryl Streep. I defined that I was a tiny organization operator and that this meant almost everything to me- my hope was that she would truly feel the magnitude of what this could necessarily mean for us.
Two days later on a consumer tagged me on Instagram where by Meryl was donning her Tiny Tags.
She then proceeded to have on it for two significant picture shoots. It was incredible and just a pivotal moment for the company.
Q: How did you know The Matte would be an excellent products to deliver on Shark Tank?
A: I considered Lori Greiner, the shark who will work with QVC would appreciate The Matte simply because it solves a common dilemma tens of millions of females have each day–limited counter area.
Q: What’s the worst piece of company guidance you have obtained?
A: The worst guidance I been given was that I need to make little one jewellery. In the early yrs and even nevertheless these days, people will make ideas on items or markets we need to go after, on the other hand, I generally considered that to create a brand name we wanted to have a incredibly particular audience in head. 1 of my favored textbooks is Manufacturer Warfare by David D’Alessandro and Michele Owens where they introduce the plan that if you attempt to be anything to everyone you are no person. This actually resonated with me which is why we are 100% centered on moms. Not only do I consider it is very good for setting up a brand, it is what is in my heart.
Q: What’s the very best company information you have received?
A: Know your why. As Simon Sinek talks about in his ebook Start off with Why–knowing your why is extremely strong especially if you are equipped to share it with your prospects. Customers want to experience connected to a brand name and sharing your why is a person of the best methods to do this. I have shared that Little Tags has been a way for me to specific my have inner thoughts about my mother and join with other gals.
I grew up with my father and my mom generally struggled to demonstrate up, not simply because she didn’t adore me, but because she didn’t entirely love herself and lacked a neighborhood. A lot of what has propelled me in Very small Tags is sharing stories of motherhood so that just about every mom feels supported, beloved and not by yourself. I am so grateful for all the mothers ready to share their story with the hopes of supporting and inspiring some others. This is my “why” and even though it is challenging to share occasionally I know it is why we have the community we have at Little Tags.
Q: We obsessively focus on function/everyday living equilibrium in the entrepreneurship local community. Do you assume acquiring a harmony is achievable?
A: I do feel balance is probable if you are ready to concentration on the journey and not seem at starting up a organization as a suggests to an close.
Q: As a feminine founder, what information would you give to other females searching to start a business enterprise?
A: Come across a mentor who you have faith in and will give you trustworthy suggestions.
