Small businesses often have limited resources and must react swiftly in order to survive, so knowing how and when to pivot is critical. Pivoting means adjusting your strategy on the fly in response to customer surveys and feedback, new market developments, or changes in customer behavior. It is not merely about reacting to external forces; it is also about being proactive and staying ahead of potential problems by anticipating what could happen next.
Being able to pivot easily is one of the essential skills Siedah Mitchum has learned over the years. Siedah is an author, business mentor, and current owner of Her Love Collections, LLC, a retail store that creates and sells soy wax crystal candles. In addition, Siedah has opened her store to partner with other local vendors to provide an array of art and merchandise to help support her community. Read more about her business below.
Tell me about your company and what inspired you to start
I started making crystal candles, which I paired with my first book, I am Love – Learning to Love Yourself and Tap Into Your Power. The candles were a great way to support me during my journey.
I took these candles to farmers’ markets or any company that allowed a small business to pop a table. After the pandemic, people were ready to get out, and I wanted to take advantage of this. I met a lot of vendors every Saturday and Sunday and eventually decided to start my own vendor store.
Now, we have two locations, one in Troy, New York, and another seasonal store in Crossgates Mall in Albany.
What are some of the challenges you’ve faced as a small business owner?
Marketing has changed tremendously regarding getting people to come indoors and shop. I think this is one of the biggest challenges with retail right now. People have been comfortable with online sales. Comparing previous years to now, there is a big difference in holiday sales.
What’s the best thing about being a small business owner?
The best thing about being a small business owner is being able to create. I have very few restrictions that I have to abide by versus if I were an employee. So I can be creative in a specific environment and uphold a certain level of customer service. It is important that I can talk to my customers and get instant feedback while creating these ideas, like a new line of candles, for example.
What prompted you to start using FINSYNC?
I was introduced to FINSYNC through SEFCU Bank, State Employees Federal Credit Union. They partnered me with BancCard for merchant processing. FINSYNC came highly recommended. Zac Kuzara with BancCard mentioned that FINSYNC is a place to complete invoicing with my vendors. I have about 80 vendors between both locations, and they rent space to have their stuff on the shelves. Therefore, I needed to be able to invoice all of them on the first of every month.
What are the biggest benefits your business has experienced using FINSYNC?
The invoicing has been amazing! I can create templates and have everything pre-done, setting dates so the invoices go out automatically. I can also see when the payments begin to come out of my bank account. I also like the calendar, so I can see what days I can expect the money in or out.
How does having FINSYNC connected to your accounts make your business life easier?
The customer service has been amazing for email, chat, or phone. FINSYNC makes my life easier. It saves me so much time and is worth it! Since Day One, I have had tremendous help. I am a big stickler when it comes to customer service, and this is the only thing that will make or break a company for me. I have absolutely had a fantastic support experience with FINSYNC from multiple people.
What advice do you have for those thinking about owning their own business?
Learn to pivot. Sometimes, having that 30% of capital available can provide options when you need to change it up.
FINSYNC allows you to run your business on One Platform. You can send and receive payments, process payroll, automate accounting, and manage cash flow. To learn more about how we can help your business start, scale, and succeed, contact us today.