Kindness and Grace Go a Long Way: Interview with Rechelle Balanzat, Founder and CEO of Juliette
I recently went one on one with Rechelle Balanzat, founder and CEO of Juliette.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks or challenges have been most instrumental to your growth?
Rechelle: Failures, setbacks, and challenges are synonymous with entrepreneurship. So much of entrepreneurship is about problem solving. So facing obstacles is naturally a part of the process. However, some obstacles can be much more difficult to overcome.
For me, when I was trying to fundraise early on in my company; I quickly learned that fundraising is almost impossible to accomplish. In fact, an entrepreneur’s inability to fundraise is one of the leading causes for startup failures.
When I failed to fundraise, I made the difficult decision of focusing on my cash flow instead. I focused all of my energy on getting my company cash flow positive.
The process was long and painful. But I learned the unit economics of my business and the drivers of revenue. Two years later, I was able to successfully fundraise.
The takeaway: setbacks and failures are fertile ground for growth.
Adam: How did you come up with your business idea? What advice do you have for others on how to come up with great ideas?
Rechelle: I was solving my own problem. I was using Seamless to have my food delivered to me. And I thought to myself, “why isn’t there an app that picks up and delivers my laundry and dry cleaning?” That was my a-ha moment. Great ideas solve everyday problems. When trying to think of potential business ideas, share your idea with friends and family for feedback. See if they have the same problem too. Use their feedback to strengthen your idea.
Adam: How did you know your business idea was worth pursuing? What advice do you have on how to best test a business idea?
Rechelle: I knew my business idea was worth pursuing when I tried to research a company that could solve my problem. This is how I knew I had something to offer to the world. One of the best ways to test a business idea is market research. Look around and see if others have attempted or are attempting to solve your problem. How does your idea differentiate from what’s currently available?
Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?
Rechelle: Finding the right partnerships and teammates was crucial to growing my business. Surround yourself with people who believe in your vision and can compliment your skill set. Don’t be afraid to bring on someone more experienced than you. I have always found it inspiring to surround myself with people I can learn from.
Adam: What are your best sales and marketing tips?
Rechelle: For sales, build something or offer something that people will fall in love with. Ask yourself - how disappointed would a customer be if they could no longer use my product or service? If you build something people love, they will recommend it to others. That is the best marketing.
Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?
Rechelle: In my experience, strong communication skills are necessary for any leadership role. Having the ability to effectively communicate your vision to inspire your team to follow through on that mission helps ensure that day to day morale is high. I think all leaders can benefit from practicing more empathy. As entrepreneurs, we tend to live and die by our company’s metrics. However we sometimes forget that while our teammates and employees may believe in our vision just as strongly, they have other commitments and responsibilities that will sometimes take priority over their work. Understanding your teams’ passions outside of their professional life builds stronger connections and loyalty.
Adam: What is your best advice on building, leading and managing teams?
Rechelle: A strong team is the best defense and offense of any company. They are at the forefront of product development or customer service. Reminding them of their role in the company gives them a sense of ownership and pride. Getting to know your team outside of work strengthens that bond. Take time to share a drink or a meal with them. Plan a fun outing together. A strong leader inspires their team to find meaning in their work. To be an effective leader, I try to connect our company’s mission and vision with each team member’s purpose and role.
Adam: What are your three best tips applicable to entrepreneurs, executives and civic leaders?
Rechelle: My three best tips are:
Read. Don’t stop learning. Stay up to date on trends. Understand how relevant markets and industries are changing. Read up on what’s driving that change.
Adapt. We live in a world that’s constantly changing. Sometimes everything feels unstable. Values or beliefs that we once held true, may no longer be applicable. Know when to adapt to circumstances.
Kindness and grace go a long way. If we push ourselves and our team to grow and expand, mistakes will be made. But sometimes these detours are where we discover the greatest lessons. When things do not go according to plan, use those moments as opportunities to better understand yourself, your team, and your organization.
Adam: What is the single best piece of advice you have ever received?
Rechelle: The best advice I ever received was to surround myself with people who are smarter and more experienced than me. There is no amount of money that can buy experience. By surrounding myself with seasoned professionals, I can tap into lessons they’ve learned along the way.
Adam: Is there anything else you would like to share?
Rechelle: The journey of entrepreneurship is closely tied to our journey within. With each obstacle or success we face, we uncover a new part of ourselves. It is this constant learning that propels us to continue on our entrepreneurial journey.
Adam Mendler is the CEO of The Veloz Group, where he co-founded and oversees ventures across a wide variety of industries. Adam is also the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal winning athletes, political and military leaders - for intimate half-hour conversations each week. Adam has written extensively on leadership, management, entrepreneurship, marketing and sales, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities and non-profit organizations.
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