We caught up with the brilliant and insightful Bree Solomon a few weeks ago and have shared our conversation below.
Bree, thanks for joining us, excited to have you contributing your stories and insights. So, let’s imagine that you were advising someone who wanted to start something similar to you and they asked you what you would do differently in the startup-process knowing what you know now. How would you respond?
Starting over now is a different beast than it was starting 15 years ago when we first opened. We opened in the pit of the recession in 2008 and my entire family said I was crazy and it probably wouldn’t last. They also said I’ve always been extremely stubborn and don’t listen to anyone and insist on figuring things out for myself, which I’d say is pretty accurate. It’s also why things work for me, I don’t take “no” for an answer, I just find a different way to do whatever it is I’m seeking.
Today’s tattoo industry is extremely saturated, far more than it was when many known shops first opened, however there’s still (and always will be) a market for it. The talent has accelerated and new ways of achieving better results have emerged, new equipment, the industry is evolving and innovation will continue. If I were starting over today I would look for a space that catered to the present as well as the future, likely sacrificing immediate street exposure for long term growth value, plus a space that’s not on “main street” is not priced like “main street”. Use that money for other things like marketing and building the brand so it’s strong and identifiable, I’d pour a lot into building a solid team as who you surround yourself in business makes a difference, if you have half a team of weak links or selfish people who aren’t team players, you’ll have holes in your business. Bring in strong people who want to put in work to be successful and who want their teammates to be successful. We rise together and we fall together, but regardless it’s together. Social media is a crazy juggernaut, far more powerful than when I started, I would use that tool to build reputation on – it’s far easier to establish your platform using social platforms than it is a website for a start up, use the resource for what it is, an endless map to an infinite pool of clientele.
Bree, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I started my career in a totally unrelated field from tattooing, I was a managing production for a few channels at NBC/Universal, I learned a lot about business, negotiations, and finance during my years in tv/film, so much that it allowed me the experience to understand what I was getting into with opening a tattoo shop, although unrelated fields and experiences, they both operate under the standard business principles and I’m a believer that you can take any experience and knowledge and apply it elsewhere while adapting to the new situation. I am so proud of the team that works with me and their abilities never cease to amaze me, I feel so privileged to have found a home in this beautiful industry.
Can you open up about how you funded your business?
I had saved up a nice amount of money and when the opportunity presented itself to open the shop I was prepared enough to make it happen. I learned quickly about financing and where to look for capital, which if you’ve ever needed money you know banks don’t want to give it to you. So basic rule of finance – get credit when you least need it so that it’s there when you really do need it. Never wait to build credit, start it immediately, your business will weigh heavily on your personal guarantee for the first five years on paper, so utilize as much business trade lines and credit as possible to establish it that way when you want to expand, you have the resources to do so exactly when you want.
We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?
I had to unlearn hiring and working with friends. For some people it works but it’s rare. Who would you rather fire? Someone you’ll likely never see again? Or your sibling or family member you’ll see at the bbq next weekend, or even harder, your spouse!
Contact Info:
- Website: www.blackdiamondtattoo.com
- Instagram: @blackdiamondbree
- Linkedin: https://www.linkedin.com/in/briannesolomon