A brief introduction about Michelle and her business:
Michelle Hsiao is the CEO/Founder of Revenue Growth Advisors, a consultancy for product-based businesses in retail, e-commerce, and wholesale/DTC brands. Previously she led merchandising teams as a Senior Vice President with Boscov’s Department Store, Group Vice President for Macy’s and Chief Merchant/Head of E-commerce for an online marketplace. RGA partners with clients from $0 (pre-launch) to nine-figure revenue who "make someTHING or sell someTHING" to manufacture, improve profitability and to "go to big retail"/strategizing and implementing wholesale business with Target, Macy's, Whole Foods, Amazon, etc. She lives on Long Island, NY, by way of NYC and originally from Maryland. She is Mom to a nine-year-old “Entreprenista in training” and a golden retriever.
Who are your customers?
Product-based businesses from $0 (pre launch) to nine figures in annual revenue.
What made you take the leap to start your own business?
In addition to working on various consulting and business development projects in a loose way, I also have been volunteering for a non-profit that serves micro- and small-businesses. That experience especially enforced to me how much the services and support we provide are so needed for retailers and brands to grow and be profitable in the space. So, I decided to "put my stake in the ground" and go official, and see what the appetite for this was!
Did you always know you wanted to be an entrepreneur?
Definitely not! My parents are serial entrepreneurs, started and sold various businesses over my lifetime. Seeing the stress and challenges of that first-hand made me happy to stay in big corporate! But after being laid off twice in five years, I realized there's no safety or security, no matter what your title or how big your employer is! So, I figured I'd try this entrepreneurship game and see if I could make it work!
Take us back to when you first launched your business; what was your marketing strategy to get the word out and did it go as planned?
Word of mouth/getting my message out via social media, networking/connecting, attending events. Joining Entreprenista! I had my first client within two weeks of launching, via a networking conversation/introduction by an Entreprenista (Mary Wiegand!). So far all of my clients have been via word of mouth, referral, meeting someone at an event, etc. It takes time, but I see it all under the umbrella of business development/marketing and a good investment.
What is the biggest challenge you have encountered along the way so far and what have you learned from it?
You can't be all things to all people! Pick a lane! As a new business owner/founder, you think the broader you are, the more things you say you can do/customers you can service, the better it will be. But in fact that's not true. Potential customers/clients (and people that will refer/connect you) want to feel like you're an expert, you're honed in, and it's clear what you do well. Once I understood that, recrafted my messaging, and focused on what I love and do exceptionally well (as well as my team members) which is developing and selling product ("things" from wholesale food to apparel to dining tables and everything in between!), then things fell into place in a stronger way, my passion and excitement grew and the results we deliver have been even greater!
What accomplishment are the most proud of to date in your business?
Winning Entreprenista 100 award! Celebrating our one-year business anniversary this month! And delivering great results to satisfied clients.
What's next for your business? What can we expect to see over the next few years?
Growing in my role as a fractional COO/Chief Merchant/Chief Product Officer. This is a great way for a small or scaling business to have C-suite level expertise and results, without the big financial investment of bringing someone onto staff. Also focused on growing as a thought leader via speaking-I've guested on a few podcasts, been published in an industry magazine, led a webinar for Verizon. Looking to do more of that, especially speaking for women's conferences, retail/small business events, etc. I see this as a way to gain credibility as an expert, and also as a business development/marketing funnel for consulting and fractional clients.
How do you avoid burnout?
I'm the type of person who needs to feel like I accomplished something every day! So by having goals for the day and being able to check them off (even if it's just mentally) is so important to me.
What is your approach to work-life balance / integration?
I'm a mom to a very active 9 year old. I tailor my calendar to be able to give her as much time as possible, take her to activities, etc. By feeling connected to her, involved with her, I feel more "whole" and that my entire existence isn't just about my business!
What is one thing you wish you had known when you started your Entreprenista journey?
Well I realized it very early on: What you put in is what you'll get out of it! I've invested my money to join, and I need to invest my time to get the most out of it. This includes attending virtual and in-person events, following up with people I find interesting, that I could help or could help me, and having a virtual or in-person meeting. Attending the monthly networking. I'm over a year in and I still put every month on my calendar. I don't make it every time but I'd say I'm on more often than not. Also put in on your LinkedIn or whatever social media you use! It shows your commitment to your business and entrepreneurial journey, as well as reinforces your expertise and connections and is a conversation starter.
What's the one app on your phone you absolutely cannot live without and why?
TikTok, only for watching, I never post, but I can go down a rabbit hole and got lost for hours if i didn't control it! Professionally I'd say LinkedIn, it's where my ideal clients and colleagues are, and I love sharing insights as well as learning from others.
What is your favorite business tool or solution and why?
Hubspot (or another CRM) is so important for my business management. I can keep track of all marketing and connecting activity with my clients and colleagues. Also the tool to set to do's/task follow ups is so essential! I have too much in my head, can't remember that I promised to follow up in two weeks, etc.!
What advice do you have for aspiring Entreprenistas?
As far as being an Entreprenista is concerned, leverage and tap into this community as much as you can! There are amazing women in this group and almost to the person, everyone is warm, informative, helpful and business God-sends! And in general, always be thinking of ways you can help, support, connect, introduce everyone you meet. It will come back to you as good life and business karma!
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About the Author
Jessi Anderson
Jessi Anderson is the Marketing and Creative Director at Entreprenista, driving innovative campaigns and creative strategies that inspire and connect women entrepreneurs within the community.
