Poshare is an on-demand fashion platform enabling women to rent or purchase outfits directly from a curated community of boutiques, designers and wholesalers for up to 85% off retail.
Poshare’s business model targets small-to medium retailers and helps local businesses find their place in the fast-growing sharing economy. With a network of vendors located across the country, Poshare curated a special collection of over 6,000 designer items, including brands such as Balmain, Self-Portrait, Zuhair Murad, Chanel, Jovani, Marchesa, Adrianna Papell and many more
Women can open the door to the high-end wardrobe of their dreams with access to the latest in runway fashions and celebrity designers. Poshare has the perfect outfit for any occasion; from red-carpet events to date nights and even wedding parties!
What made you choose this type of business? Why? What other markets are you interested in?
I have always been interested in fashion and e-commerce, so one of the first jobs that I got when I moved to US was managing the e-commerce part of a business for a NYC boutique. That's where I actually gained experience in the use of online marketplaces and omni-channel retailing. Time passed and one day, when getting dressed to one of the many events ( I used to go out A LOT), I had an a-ha moment and the idea of Poshare was born. I wanted to build a platform that would speak to the needs of women across the country, as well as help the retailers find their place in the fast-growing sharing economy. I wanted to create a platform that would link small businesses with Millennials, who account for a fourth of the population, have over $200 billion dollars in buying power, and who often choose renting as the new way to shop.
Are there difficult times you go through? What helps/inspires you?
Being an entrepreneur isn't for a faint of heart. Entrepreneurship is a lonely road most of the times, especially if you work solo like me. The greatest difficulty is fighting your internal demons: we all face some type of hardships sooner or later and unfortunately at some point you might start associating yourself (your self-worth) with a product you are building. So when things don't go too well with your business, one may experience apathy or even depression. I really think that emotional health is one of the biggest risks in entrepreneurship, second one is of course financial. It is important to realize that although money come and go, your health can not be replaced.
Startups are way over-glamorized these days. No wonder some start comparing themselves to the stories they read in the media where everything looks so fun and easy: it is often about young people who came up with a billion dollar idea on day one, raised a few millions next month, rented a gorgeous office space with computer games, designer furniture and bowling, and now are living the life of rich and famous. This is not how it really is. As an entrepreneur, you will often feel lonely, stressed-out, may even experience severe sleeping problems - that's why it is so important to maintain a healthy lifestyle and a positive mindset: eat right, exercise regularly, maintain close relationships with friends and people who believe in you. Other than that my advice would be: be persistent, be courageous, believe in yourself, and stay confident. Remember, success doesn't happen overnight, good things take time.
What is failure? Do you think it’s a crucial step to success?
I believe that as soon as you continue working and dealing with the complexities that come your way, you can avoid the so called "failure". To me personally failure means quitting, agreeing with the unfavorable situation that surrounds you and just giving up. When you sit on the couch and refuse to continue fighting - this is a failure.
Did you have to fire someone before? What’s the best way to go about it?
Unfortunately I had, and it is never easy. We are all humans and know that being let go can be emotionally traumatizing, one can never be completely ready for this. That's why employer's job is to do it with a minimal impact: be quick, be kind, be clear and honest about it. First of all, show respect to the employee, make sure it doesn't sound like a personal criticism. I believe that it is necessary express the appreciation for employee's time and effort, you also must nicely explain why they are being let go, with no sugarcoating. I am not a fan of general terms, I prefer using facts and clear examples. Once again, it is not only what you say but also how you say it: be kind, sympathetic but firm.