Interview of Entrepreneur Damita Foreman
by Tamika Johnson
Damita Foreman is no stranger to business. Damita is a licensed real estate agent, insurance broker and now, small business owner. Damita’s small business is VIP Extension Bar, a place to shop for hair extension and hair extension products. Damita launched online and has since opened a physical location in New York where customers can view and purchase hair extensions and hair extension products on site. If you’re in the tri-state area feel free to visit the VIP Extension Bar at 2 Evans Avenue, Elmont, New York 11003. The following interview with Damita provides some insight on her journey into entrepreneurship and her experience as an entrepreneur…
What motivated you to become an entrepreneur?
I always had an eye for business. I was inspired by business owners and imagined myself running a business. I like the control I have over my career that comes with being my own boss. Why work so hard to climb the success ladder that belongs to someone else, they will control how high you climb.
What challenges do you face as an entrepreneur?
Work life balance. Learning to prioritizes the business and personal sections of my life is my greatest challenge. As an entrepreneur you relay on your business and your business relies on you. It difficult at time to put into practice that work is done whatever time you close for the day, and it is time to handle personal life.
Are you willing to give up some control for the growth of your business -for example, using investors, having a co-founder/ partner, basically including someone else who can make major decisions about your business?
Yes, in the sense that I would like to have a manager or someone who can help me make those important decisions for business and alleviate me from major responsibilities while enabling the business to grow.
How did you acquire and how do you keep your customer base?
Through a lot of social media and lifestyle marketing on social media pages. I also blog. I am not just indulging my customers in my products, but also products that I feel have a strong association to what I do. For example, I think like this- If I was someone who loves hair, what related product would I be interested in? I keep my customer base through marketing tools such email blast, promotions, and by keeping the customer intrigued by showing how to use the products in different ways and through my weekly blog. Most importantly I keep my customer base though a high level of customer satisfaction.
What misconceptions do you feel people have about entrepreneurship? What misconceptions, if any did you have prior to becoming an entrepreneur and what lessons have you learned as an entrepreneur?
A lot of people want to be their own boss, but it is a lot less glamorous and harder to do than expected. Starting out, you have to be the business and function in all areas. You have to be the marketing department, the customer service department, accounting department, the quality control department -you have to do it all. Customer service is vital. What I hear from a lot of my customers is my customer service brings them back. If customer service is subpar, you will lose business.
What motivates you to keep going on a down day? How do you cope with setbacks and negative experiences?
Functioning in all areas of my business, what motivate me is- no one else is going to do it, I have to do it. It’s hard to cope with setbacks and negative experiences, but when you know you are the only one- you are your own support, it’s not like you can pass on the issues to someone else, you have to keep going.
What resources helped you start and run your business?
Searches through Google, the Small Business Administration (they help with setting up your business), and studying businesses that I admire.
What do you like best about operating online?
I love operating online. What I like most is the exposure to millions of potential customers and being able to interact with customers virtually.
Why did you decide to open a physical location? How would you compare and contrast operating within a physical location and online?
I decided to open a physical location for the customer base that doesn’t trust online purchases. Some people need to physically view or touch the product before purchasing. I’ve had customer who traveled from miles away. Operating a physical location is a lot more, in terms of overhead (rent, lease), liability (-must have liability insurance for a physical location, but not online) and accounting methods.
What advice would/can you give to aspiring entrepreneurs?
Do your research in the field you want to develop a business in and learn the basic needs for that business. Be organized, prepare for growth and have strategies in place for growth and setbacks.
