For this week’s edition of FinanciElle “Statements”, I had the opportunity to interview Jessica Kelly, Founder and CEO of THR3EFOLD.
THR3EFOLD is a Fashion tech platform connecting brands with ethical factories around the world and managing their production all in one place. They simplify the production process by making it easier for teams of all sizes to find trusted garment and accessory factories to create their products.
Their mission is building a more ethical and sustainable fashion industry through the power of connections.
Paolina: You just completed a crowd funding campaign on ifundwomen:
- Why did you choose that platform?
I chose iFundWomen not only for the obvious reason that I am a female founder but also because it was the first crowdfunding platform I had seen with more B2B and service based businesses so it was the first one I felt confident would be a good fit for THR3EFOLD.
- What did you learn from the experience?
So much! The best thing you get out of crowdfunding besides capital is the ability to A/B test with your target market. So I pivoted the rewards and our sales/marketing strategy the entire time during that short period. It’s a sprint to find the best fit for your market at the price they love!
- What would you say to a woman who is considering supporting a company like yours through crowd funding but is unsure?
Finding a lower priced reward and/or a reward/product they are selling that you’d actually be interested in buying is a good start. I had some people support us who weren’t a target customer but believed in what we were doing so they bought our Swag Bag reward or Art Illustration reward to support and get something beautiful out of it.
Paolina: What has been your hardest experience dealing with your business and finance and what did you learn?
Being an entrepreneur is one of the hardest professions you can take on because your personal money is your business money and it often feels impossibly small. To mitigate this risk (and the grey hairs) I found a low responsibility job that allowed me to still devote my creative energy to my business while still covering rent, food, and healthcare!
Paolina: What advice do you wish you had gotten about finance when you were first starting your business?
To be honest I’m not sure if it would’ve changed anything because sometimes you learn the best from just diving in, but I think the advice to save 3x’s as much as you think and get all the big things, trademark, incorporation, etc done in advance, this will save you stress after you take the leap.
Paolina: What topics would you want to learn more about when it comes to finance and your business and why?
Information about the grant/competitions for female founded companies.