Getting to Know Nicole

Where did you attend college and what did you major in?
I attended Kenyon College in Gambier, Ohio and majored in Art History.

What was your first job out of college?
My first job out of college was at the Metropolitan Museum of Art- it was really administrative, I worked in the executive offices. Since I was an art history major, I thought it was a logical choice, I thought it was be really fun to work in such an amazing museum and be exposed to the behind the scenes world of the museum. I didn't really know what my career path should be, but I sort of took a leap of faith that if I took an opening at the right sort of place, that it would all fall into place. Unfortunately I had no exposure to the collections and it is such a large organization that I didn't even interact with the curators or anything on the art side. But parts of it were great: imagine walking through the Met on a Monday when the public isn't there, walking room to room completely alone through the most significant works of art in the world…it is surreal.

Career-wise though I was totally on the wrong track, I needed to find a job where I could be hands on and be creative. Like most people I know who now have cool jobs, I jumped around a bit and it took a while for me to figure out my course…

Is it true you worked in finance on Wall Street?
I did. After leaving the Met, I knew that I wanted to be somewhere that was somewhat creative, but I also wanted to be somewhere where I could learn and be exposed to something new, so I took a job in the marketing department of a financial firm. I know that sounds like a huge contradiction, creativity in a financial services firm, but it made sense at the time. I was responsible for creating and running nationwide marketing programs to educate advisors and consultants on our investment vehicles. Some aspects of this were really interesting, and I did learn a ton about the industry over that five year period, I got all sorts of financial licenses and met a ton of wonderful people that are still very close friends. But at the heart of it all, I knew that I wanted to be doing something much more creative- and I wanted something that I could really take ownership of. It was a great building block for me though, I learned about how to look at companies and their stock valuations, their management teams, and try to determine which companies are strong and why. I think that it's helped me in making decisions for my own little company- understanding how to build for the long-term.

What inspired you to quit that job and start this business?
While I enjoyed parts of my job, I really knew that it wasn't me. I just am not passionate about finance… What I did like was designing marketing campaigns to promote an end goal, and I think that taught me so much in the long term. Things like figuring out where a brand wants to be positioned and then designing the steps to achieve that positioning- through print media, advertising, customer service scripts, etc. But the reality is that I was never about investments and such, and I really was bored. I knew that there was something more interesting for me to do…and I knew that I had to figure out what that was or else I would be stuck in a rut.

So, I continued to work part time in the financial arena, just as a consultant, as I developed my company with a good friend, Margaret. Between the two of us, we were able to lay the groundwork for Margaret Nicole.

Was it something you always day-dreamed of doing?
I have always wanted to have a job that I love- that I can completely throw myself into and be passionate about, and I finally have it.

From Risky Business to Booming Business

What was the hardest part of starting Margaret Nicole?
The hardest part was learning to be patient. It takes time to build a presence, and it is really hard to wait. And it takes a while to be profitable, so you have to keep the faith that your hard work will pay off. I work extremely hard and I really do believe that if you work hard and make smart decisions, it will pay off.

In starting your own business though, what can be difficult is getting enthusiastic about doing parts of the job that are not fun, or not within your comfort zone. Some parts of the job are really fun and exciting, like designing the collection, chatting with buyers, meeting customers, working with press, presenting the collection at trade shows, things like this are wonderful. There are other parts that are more tedious, like doing the paperwork, staying on top of invoices, mailings, website updates, and fulfillment. When you start a company, you have got to give everything the attention it deserves, not just the things that are fun…so just being able to look at what needs to be done and knocking it out!

The easiest?
Networking is really very important in this business. I have found it really easy and fun to get to know my fellow indie designers and build a network of people and create a work environment for myself, since I no longer go to a real office. Bonding with your peers is a great way to share resources, to find information about events and opportunities and things like this. I can't stress enough how great is has been to reach out to my peers- and to help promote one another.

Do you actually knit the bags?
When Margaret and I started the business in 2003, we did knit, line, and construct every single bag. At first it was easy and fun to do, but as the company grew larger, it just was not possible anymore. We had an order once for 200 bags from a single client, and that was the turning point. After knitting all of those bags ourselves, we knew that our business could not possibly grow if this continued. There was not enough time in the day.

So no, I do not knit all of the bags myself anymore. I DO however knit bags that are custom orders, which is fun. So, every month, I probably do knit about 15-20 bags for special orders- unique colors and textures, and things like that, which is very fun.

How has Margaret Nicole changed since you launched in 2003?
In some ways it has changed dramatically, like it is now a profitable business with some wonderful accounts and nice press coverage. Most importantly, there is a sense of stability where I feel like I have built a good customer base that will be excited to see the new designs each season. And of course a major change from the beginning is that early on Margaret moved on to other things. She is a wonderful friend and was instrumental in helping me get the business off the ground and I adore her.

In other ways it has not changed much at all. It is still a company run on a very small scale, I am very customer-focused, I want my customers to love their bags and see them as something unique and different. and I don't want this to change at all.

Fashion Fast-Forward

Tell us about your Bangle Bags, new this Fall.
I love my new bangle bags! The main comment that I had with the clutches was that people loved them, but they are not the most practical- they are more conversation pieces. I tried out different ways to hold them, like attaching a strap to the inside, but really, it is a clutch, and is carried for occasions when you really just want something pretty to hold your basics.

The bangles are the evolution of the clutch, using the wooden circle that is so popular right now in jewelry. So the regular size bangle bag is the same cable pattern as the clutch, and the oversize bangle bag really gets into a more interesting pattern, with more cross over stitches and braids. The new WWD Accessories Guide for Spring 06 just pictured one of these, which I am so thrilled about!

The fashion industry is always a couple seasons ahead of everybody, do you have any new MN products already in the works?
I do! I can't tell you how excited I am for Spring!!! First of all, I am carrying the bangles into spring, taking the same designs, but making them in very pretty cottons like white, lilly, pink, lavender…

Secondly, I am introducing an entirely new line of totes that are just beautiful, with leather trim. am so excited about these bags and cannot wait to present them in January. I plan to have a line of luggage and baby bags too for winter 06, stay tuned!

Tell us about your new partnership with Anthropologie?
I love Anthropologie, so I was thrilled when they reached out to me. My premise for my bags is that I have basic shapes and a basic design, and I allow people to accent and decorate the bags to fit their look. Anthropologie selected this bow to fit market to their customer base; I think it is really pretty.

Who are your fashion trendsetters? Favorite designers?
Fashion trendsetters- I really like Kristen Dunst's style, casual and laid back. She always looks comfortable in her clothes, and I would love to have her closet. I love people that dress their personalities, so Gwen Stefani I think is wonderful, her look is entirely her own. I also like Sienna Miller's style, the way she mixes hippie flower girl and boho looks with a classic…and I think Audrey Hepburn's look is timeless, I love her.

Favorite designers- Anna Sui is amazing. So fun- and feminine and so original, .and Stella McCartney too, so natural. So pretty.

What's on your iPod right now?
Hmmm, I still don't have an iPod yet…still buying cds…but I plan to buy the new Madonna cd when it comes out because I love her. I listen to everything really, I recently bought the new Tracy Chapman.

What advice do you have for women in college and grad school who dream of starting their own company?
It is a lot of work, so you have to really want it in order to make it happen. And if you want to do it, DO IT! Everything takes a while to happen, so the sooner you get it going, the closer you'll be to the end goal. I know it sounds obvious, but I think that indecision and procrastination is what stops most businesses like mine from taking off.

Think about the sacrifices you are making in order to make it happen, and decide for yourself if it is worth it. In starting out, I think it is very important to set little goals for yourself. Like we spoke about earlier, patience is really hard to have, but these things take a long time. But you need to know that you are moving in the right direction, so setting goals is key. Every 3 months, you want to look back at the previous quarter and see what you have accomplished.

Have faith in yourself and your abilities. It is also important that you try to surround yourself with friends and family that believe in your company- my husband David has so much faith in me and my company, he really is so encouraging of Margaret Nicole, and keeps me going like you wouldn't believe. Understand that most people are going to be skeptical of your new company, most people don't understand why someone would take on a challenge like this- why you would sacrifice the stability of a corporate job and set out to start a new company. So, just don't talk about your new venture with people who you know will be negative, it will only bring you down.

Having said that, it is really important to build up your network of vendors, peers, customers, press, etc. Have fun, meet people, I can't stress enough how important relationship building in starting a new business!

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As I'm posting this article, I get another email from Nicole, this one telling me she just got an iPod and she's spending lots of time downloading music from iTunes. It's funny really, here she is, telling me she's finally catching up with the trends, when in my mind, she's already way ahead of them...