Fewer than three percent of women-owned businesses gross $1 million or more in annual revenue, and the women owned firms that have crossed the million-dollar threshold certainly weren’t overnight successes. For the majority of multi-million dollar enterprises, it takes a lot of years of hard work and persistence to achieve that level of success.
Juxtaposed against these statistics the story of Lisa Henderson, Sandra Masters and Susan Guillen’s journey to the million dollar revenue club is nothing short of amazing. One year after launching B’s Purses, the young mom’s vision turned into a million-dollar success.
So what’s their secret? According to Lisa Anderson, one of the founders, B’s Purses grew rapidly because of the growth strategy they chose. Instead of opening a bricks and mortar boutique shop, they decided their business would grow more quickly by using a direct sales business model.
The direct selling industry also offered a niche opportunity for the young company. Lisa Anderson explained, when they launched B’s Purses six years ago, there was no other direct sales company selling stylish, customized purses.
Today, not only does B’s Purses have thousands of sales representatives throughout the country, but also the company has an award-winning e-commerce web site.
“Design your style, design your life is what we always say,” says Sandra Masters, another of the founders. Masters is referring to their vision and goal of empowering women all across the country. Sales representatives for B’s Purses not only enjoy helping other women design one-of-a-kind, stylish purses through fun, in-home purse parties, but also “B’s Girls” get to design their own lives. The direct sales model allows women to make money on their own schedule giving them freedom to build a business while managing a life.
Direct selling can be an excellent growth strategy for a small business – particularly if your business offers a product that sells well by allowing customers to experience it and/or test it out. Some products doing well with the direct selling method include wines, gourmet foods, stun-guns and power tools for women. The Direct Selling Association (DSA) is an excellent resource if you think your business could benefit from a direct selling strategy.