RAINE MAGAZINE Volume 8 | Innovate

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 - Innovate 49