Michaela V is a luxury shoe brand founded by a Slovakian model based in New York City. After working for countless designers in the billion-dollar industry, Michaela Vybohova decided to take a stab at it herself. She had limited knowledge on how to start her own business, but along the way she mastered her craft. Today, her business is running successfully and wants to share with others how to make a pipe dream possible.
Q: You created Michaela V; it is entirely self-made. Can you explain how your luxury shoe brand idea turned into a reality?
M: I think the best way for anyone to turn any idea into reality is just to do it. The first step is to do your research, of course, but just starting it is the hardest part. Yes, I made many mistakes along the way, and the chances are high that many inexperienced will as well. However, you learn from your mistakes, and they always give you new perspectives on business and life overall.
Q: How were you able to fund your plan? How much of your own money did you put into your line?
M: From my savings, I have made over the years. The general idea is that you need a lot of money to start a business, but that is not necessarily true, it depends on the type of business you are trying to start obviously.
My first purchase was the shoe samples. Two samples, with shipping, cost me around $1000. I made a couple of corrections, which was an additional $500. When I was happy with the finished product, I had to create a website which cost me another $500. A tip for future entrepreneurs: use Shopify or GoDaddy to buy a domain and shop templates to make the website yourself. If I had known that the total cost would be under $100.
After that, it was time to go into production, which is generally expensive, but the key is to find a manufacturer that is willing to work with you on minimum orders and within your budget. This way, you will not have to order 5000 pairs of shoes or shirts or whatever your dream business entails. The advice I can give for startups is to set a budget and start small to avoid bankruptcy with the expectation of huge corporation rollout from day one.
Initially, I totaled at around $5000. The amazing part of doing a small first production round is that you will also sell out very fast and go to production again, and it is a snowball effect where you grow at a slow but steady pace.
Q: Do you still fund your own company?
M: Yes, I do when it comes to additional costs like PR, showroom cost, etc. but those costs are not high. My advice for this part of the business is to be very picky about who you hire for these services because the cost can be low or astronomical, do the research. I have worked with costly PR firms where the return in value was non-existent, and later I ended up hiring a freelancer straight from school who has done wonders for very cheap. I would suggest you meet with everyone you can before you make your pick.
Q: For someone who wants to start their line, what are the main steps? Do you suggest starting with a business model?
M: 1. Evaluate what you are good at and make sure it is your passion.
2. Do your research on the process and the market you are about to be fighting for space in.
3. Find the right manufacturer; this is beyond important. I had two different ones before I found my current one, and it made my life so much easier.
4. Make your samples.
5. Lean on the opinions of your friends and industry people, if it is an option, and go from there.
6. It is time to go to production and the fun part starts; you are about to get your foot in the market.
I personally did not have a business plan or a model I followed, and I made my business plan along the way when I understood my true costs of manufacturing, shipping, and margins.
Q: How did you avoid/deal with manipulation or greedy manufacturers?
M: Haha, I did not avoid it. Unfortunately, one could only wish. I got ripped off and lied to from manufacturers, PR firms, and even showrooms. I did not have any shoe designer or anyone with that expertise in my family that would be familiar with the business. I have learned a lot, and I understand what to watch out for now.
Q: What were some of the major issues you faced when creating Michaela V? Tell me about a time in your career that you wanted something so badly that you were unstoppable in pursuing it. What obstacles did you overcome to achieve it?
M: I wanted to start my shoe line more than anything, but I honestly had no idea how or where to start, and that was the first major issue. I started as simple as googling it. You can find a lot of answers and some advice from other business people. Once I read and learned the basics of how fashion production works, I wrote down a simple plan of what I needed to find first, and I went after it. It sounds straightforward, but it also took me almost a year to check that list off. You have to prepare for rejection; I never counted how many times I have been told ‘no’ because it is only about the ‘yes’ that really counts…though I did get the ‘yes’ from wrong people. At the time, I could not identify the right people to work with, but I learned.
I think it is everything, from pursuing my career as a model to moving to New York on my own. Everything I wanted really badly I almost always got, but there is a price of time and effort to pay. It is up to you to decide if it is too high and if you are willing to invest.
If I had to say all of the obstacles I have faced, we would have to turn this article into a book, haha. But we all have them, and for me, it was mostly rejection and being told that it is impossible. Honestly, where there is a will, there is a way.
Q: How can your adversities help others who want to start their own company?
M: People say that you should learn from other people’s mistakes first. I listed some of mine above, and it is the best advice I can give on what to watch out for. I wish that there would be more people speaking openly about their mistakes; that way, I could have avoided some of mine as well.
Q: What do you wish you would have known before starting your company?
M: Embrace your mistakes, do not hide them but analyze and learn from them. Setbacks are a chance to reevaluate and figure out why it happened and then move forward with more knowledge than before. From day one, you should ask for advice or help. Be ready to adapt and be flexible because you cannot please everyone.
Q: What would you have done differently if you had that piece of advice?
M: I probably would not do anything differently, but if I did, I would get to where I am now perhaps a year prior, and I would have saved myself a good amount of money. At the end of the day, I do not regret the mistakes I have made. I have learned a lot, and mistakes are part of the journey.
Q: What advice do you have for those who want to be a self-made designer?
M: It is a pretty crowded industry, but if you bring something unique to the table, there is definitely space. I think to focus on being yourself and your vision, what makes you different, and finally, how you can make your customers feel their best with your products… The rest is just research and technical challenges.
Q: How have you morphed your company into a successful one? What has been the main factor? Staying on top of trends? Teamwork?
M: Doing my best and taking many different routes until I found a way that works. I feel like it is a little different for every designer or business; you have to do what works best for you. Run with it and adapt to any and all circumstances, trends, technological evolutions, so you stay ahead. Teamwork is absolutely the key to success. It always takes a team, from the factory to store and, of course, excited salespeople. Establishing great relationships with people throughout the process is a major player to your success, and you should let them know by expressing gratitude, everyone likes to be appreciated.
Q: Why did you gamble on yourself? Why did you think you could make it?
M: Naturally, I am a curious person. I would rather fail and have peace of mind that ‘I did it’ rather than wonder, ‘what could have happened if I did that.’ Also, I am a finisher. I will not stop until I know I have reached my limit and overdrawn my resources. I believe there is always a way, but also an entrepreneur should know when something is just not working.
Q: What is your ultimate goal? How will you get there?
M: Build the most successful company as I possibly can, obtain as many happy customers as I can, and provide for my future kids. As for how I do not exactly know yet, but stay tuned, haha!