RAINE MAGAZINE Volume 8 | Innovate

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BIZZ BUZZ Hoseanna, the new online hosiery subscription service for women, was created to prevent the all too familiar last minute scramble to purchase pantyhose. Launched in March 2011, Hoseanna was founded by Tracey Solomon and Katrina Caroll-Foster, who have not only been best friends since high school, but both are veteran road warriors of the corporate world. Whether you are a stay-at-home mom or onthe-go CEO, Tracey and Katrina understand that there are just not enough hours in the day to stop by a store and gingerly shop for hosiery. And let’s face it; the overwhelming selection of new brands and styles has turned this seemingly simple purchase into a frantic chore. But what if you could just go online and order a subscription of your favorite pantyhose to be delivered to your doorstep each month? This is exactly the savvy and convenient service that Hoseanna has prescribed for today’s busy women who suffer from symptomatic forgetfulness of stocking up on their essential personal products. Raine Magazine was able to catch up with the innovative co-founders of Hoseanna and learn more about the inspiration and journey behind their entrepreneurial endeavors: Before teaming up and becoming entrepreneurs and business partners, you celebrated individual success as accomplished business women. Tell us a little more about your professional backgrounds and life before Hoseanna: Katrina: I’ve always been attracted to companies with strong brands and great stories – be they billion dollar corporations like Intrawest Resort Corp, to fast-growing startups like HCareers.com. A strong story makes the offer more compelling for the customer and also made me feel like I was really filling a need that they had. It was important that I felt like I was providing something worthwhile, while delighting them in the process. “Stocking Up” with Hoseanna.com Hosiery Delivered Right to Your Door WRITTEN BY LAUREN APPLEBAUM 48 Raine Magazine Vol. 8 - <strong>Innovate</strong>
FROM LEFT TO RIGHT: KATRINA CAROLL-FOSTER AND TRACEY SOLOMON Tracey: My whole professional career has been as a consultant or advisor, always looking to make things better for my clients or solve a problem that they didn’t know they had. I’ve been lucky to work with people at Fortune 100 companies all over the world, and through it all, I’ve learned the importance of connecting with people on an emotional level. It’s hard to be unique these days – people have so many options. But if you can connect on an emotional level, it’s hard for someone to replace you once you’ve won their heart and mind. We’re working really hard to make Hoseanna that kind of brand - a brand that women can relate to, that looks, feels and smells like them. Starting a business with your best friend is every woman’s dream come true. However, leaving the corporate world to embark on your own business venture requires a giant leap of faith. Why did you decide to take the jump into entrepreneurial waters and leave your successful careers behind you? Katrina: After years working in the corporate world, we had both come to realize the importance of independence and flexibility when it came to our work lives. For years we had talked about doing something together, but the timing was never right. I was thinking about going back to school for a Master’s Degree, and Tracey was jetting around the globe during her consulting years. We never seemed to be in the same place at the same time Tracey: Timing is so important. We knew we needed to do our time in the trenches to build up the right network of people that we could tap into in the future. It took us years to feel like we were at a place where we could leave it all behind and swim on the strength of our own relationships. We had helped others be successful – why not join forces for our own benefit? Plus, tech was hot again, and women were not going to be left behind. Gilt Groupe and Net-a-Porter were taking the Internet world by storm and we wanted to ride that wave! Providing a hosiery subscription service is such a breath of fresh air for hardworking women everywhere, no matter if they are a stay-at-home mom or a corporate road warrior. When was the “Ah-ha!” moment that inspired the concept behind Hoseanna? Katrina: I remember talking about a girlfriend of mine who always wore these fabulous stockings from Italy – the kind of funky stuff that even a pantyhose-hating girl would love to get her hands on. The more we talked about stockings and hose, the more personal stories we had about our own hosiery mishaps. That’s when we thought to ourselves, ‘we’re on to something’. Tracey: Our Type A personalities kicked into high gear and we started to do some research on pantyhose, subscription and replenishment services. It didn’t take too long to realize that there was nothing out there. What proved to be your biggest obstacle while working to get Hoseanna off the ground? Katrina: The biggest challenge was believing in ourselves and that the idea could work. Even though we’ve had success working for other people, we were putting ourselves out there and at the end of the day, we were going to have to face the music. We had to trust our instincts and believe in our own abilities without letting fear of the unknown prevent us from taking our shot. Tracey: When you work for a big company, you have a false sense of time – like you have all the time in the world to get things done. When you’re an entrepreneur, time is your enemy. Nothing can be done fast enough and you don’t have the luxury of waiting until everything is perfect. One of our advisors said ‘go early, and go ugly’. When you’re used to dotting all your I’s and crossing your t’s, it’s hard to let go and say ‘let’s see what happens’. And lastly, can you list 3 items that Raine readers need to have in place before moving forward to execute a new business plan? Tracey Make sure you are solving a problem or identifying a pain point that is important to the market. It’s no good if you are creating a solution for something that no one cares about or isn’t really a problem that the market needs to fix. Katrina: Don’t focus out of the gate on making money. You need to build a brand and have a relationship with your customers. Focus your efforts on doing what’s right for the customer, and you will make the right decision. If they feel connected to you and trust you, they will buy your products. Tracey: Know your tolerance for risk, and be prepared to go past it. You have to be willing to adapt – nothing ever happens the way that you expect. But if you’re willing to embrace the change and roll with it, new and better opportunities will come your way To become part of the Hoseanna experience, visit www.hoseanna.com . Raine Magazine Vol. 8 - <strong>Innovate</strong> 49
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