The New York City start-up scene is full of opportunity, but with that, comes a lot of competition.
With everybody and their mother trying to start a company right now, it can be difficult to stand out amongst the crowd.
In an ever-so-saturated market, what can you do to make a name for yourself?
Industry maven Zara Terez Tisch is here to spill the piping hot tea.
For those of you who don’t know, Terez is the fashion lifestyle brand that specializes in vibrant, high-performance activewear and everyday styles for girls and women.
CEO and Founder, Zara Terez Tisch founded Terez to celebrate connection, heart, and female empowerment, which is reflected through the brand's ethos, flashy dynamic leggings, sports bras, biker shorts, loungewear, and beyond!
Zara originally launched Terez in 2008 in her parent's basement in Atlantic Beach with handbags. After a few years, she shifted gears to create ready-to-wear and launched active, which makes 2022 the 10th Anniversary of Active.
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A mother of 3 and a forever optimist, Zara is a ball of energy with a vibrant creative streak and believes in embracing life to the fullest - which is apparent through Terez's brand DNA and social media presence.
Terez is also loved and frequently worn by many celebrities including Lisa Rinna, Vanessa Hudgens, Addison Rae, and many more!
Keep reading for Zara’s expert tips for surviving (and thriving!) in New York’s budding business scene.
The saying “It Takes a Village” really reigns true when starting and sustaining a company. It’s important to put a lot of effort and time into finding good people who have similar values and who want to be part of the journey.
Have your team members' backs in external situations. There will be a lot of challenges in starting a business and people on your team will make mistakes. Remember to always show support and take responsibility for the mistakes, while always giving praise for successes.
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Whether the reason you started your business is out of passion, a void in the marketplace, or a great idea to make money – realize it, own it, and have it live as your ‘North Star’ by which you make your decisions. This will also keep you focused + hungry to continue growth.
Contrary to the above, be open to change. Change is the one thing in life that is constant. Be willing to switch things up and try something new – because that time will come.
No matter what it may be, know how much your costs are and how much you can “sell” your product or service for. The amount in between is your margin. Make sure that from the beginning, your margin is working towards covering your overhead (operating costs) so that you can track toward profitability.
It’s inevitable that when you launch a business (and maybe even long term) that you will be the one doing EVERYTHING. Understand your strengths and surround yourself with experts who can help you work on your identified weaknesses. Your weakness is not a setback, but an opportunity to learn and grow into the entrepreneur that you know you are.
There is no room in this world to be mean to those around you, especially in your business. Everyone is also spending their lives working towards their goals. Be kind to your team, your 3rd party contractors building your website, the mailpersons expediting your package, the baristas where you get your morning coffee – they are all part of your entrepreneurial journey. You wouldn’t be where you are without each one of them.
In my opinion, I think it is important to learn and “do” every role in your business before you begin to delegate. You might not necessarily understand every process entirely, but having even a broad sense of the responsibilities will help you to better delegate in the future.
This goes both personally, which is tougher, and with your business. Don’t neglect yourself and your loved ones outside of work. The more you take care of yourself personally, the better a leader and teammate you can be for your business. Be sure to think of new ways to stay relevant in your respective industry and keep your why top of mind each day.
You know why you are here and why your business deserves the same opportunity as anyone else. Be your own advocate and work hard for what you know you deserve.
Photography by: Courtesy Terez, Vlada Karpovich