eMinutes Client Profile: Romy Taormina
Tell us about the project you’re currently working on.
Psi Bands are stylish, FDA-cleared acupressure wristbands for the relief of nausea due to morning sickness/pregnancy, motion sickness/travel, anesthesia and chemotherapy. I suffered from terrible morning sickness during my pregnancies and found nausea relief from wrist acupressure bands. I was, however, dissatisfied with existing products on the market that I felt were drab and uncomfortable. Wanting something more for others who suffer from nausea, I gave birth to my two sons and hatched the idea for Psi Bands.
Psi Bands are sold nationally in store at Rite Aid, CVS, BabiesRUs, Whole Foods, etc; online; and internationally in five continents. www.psibands.com
Why did you become an entrepreneur? Is starting a business something you always wanted to do?
I have always wanted to run my own business. I received my college degree in business with a marketing emphasis. I enjoy problem solving, strategic thinking, creating meaningful marketing plans, and being in charge of my own destiny where my successes and failures are directly related to my choices.
What is the number one thing you wish you could learn more about, and how will you learn about it?
There is not just one thing I would peg. Psi Bands teaches me something every day – either about people, myself, and/or a business concept. It’s a daily MBA and life program full of enriching lessons. I just have to be a sponge and be willing to suck it all up – the good and bad.
How has technology impacted your business?
Much of our business is done virtually. We have team members all over the world.
How do you use social media in your business?
We use e-newsletters, FB, and Twitter to stay connected with our customers and retailers.
Did you have a business plan when you started your business, and, if so, how much did you vary from it?
Yes, we started with a business plan, which we follow as a guide. It’s a living, breathing document that is updated when we see a need to adapt.
What was your biggest mistake and what did you learn from it?
I view mistakes as learning opportunities. And who doesn’t make them!? It’s more about what you do with those “mistakes” – like not making them again! Reaching out to others for advice when in doubt is also key. Entrench yourself with other entrepreneurs so that you have mentorship when you run into situations that you are unsure of. As an example, I belong to Savor the Success as a Premium Member and as an awardee of the Make Mine a Million $ Business program sponsored by American Express OPEN I communicate regularly with a private group of esteemed entrepreneurs.
What advice would you offer to a first-time entrepreneur?
Believe in yourself and believe in what you are about to do (your business) with every grain in your body. You will be challenged in ways you never considered and so you must have the tenacity to get through the challenging/rough spots that you will inevitably encounter. Also, make sure your idea is a profitable one (i.e. you have done your research and written your business plan) – otherwise it is just an expensive hobby. Being an entrepreneur is like riding a roller coaster – it’s full of highs and lows so it’s not for everyone. It’s a journey – and one I believe well worth taking.
Have you received funding from an outside source, and how has funding (or the lack of funding) impacted your ability to achieve your objectives?
We bootstrapped and received bank funding. It’s a tough economy right now. However, where there is a will, there is a way. With limited funding, however, organic growth is necessary – and sometimes that is a blessing!
How do you spend your workday?
I so believe in my business and what it stands for (i.e. providing people with nausea relief so they can live their lives more fully) that I am drawn to growing it on a daily basis. I start my day early and end it late. I try to balance work, family, and self care, which is often a struggle; however, it is my belief that the best things are those we work the hardest to achieve.
Who do you rely upon in your business most, and what does he or she do for you that is so invaluable?
I rely on myself the most. I set the pace and example for others to follow. I must be accountable first.
Do you believe that “luck” played any role in the success of your company?
No. I believe that if you want something, you have to make it happen. It’s about choices, taking risks, and seizing opportunities. While the stars may align in certain situations, you had to make choices to get to that place to begin with.
If you had an extra $25,000 to spend on your business, what would you spend it on?
Inventory.
How neat or messy is your desk? Please send us a photo
Neat. Being organized allows me to excel. Messiness is not in my vocabulary.