You may know celebrity stylist Lindsay Albanese for her many appearances on E! or Access Hollywood talking everything fashion.
But after many years in the entertainment industry, the businesswoman pivoted from styling to inventing and created the TOPTOTE, a holder that attaches to your handbag, luggage or beltloop, allowing for handsfree hat transportation.
Lindsay’s now committed to helping other women thrive by launching The Fileist, a marketplace that supports and sells female innovated products. She shares her top tips for making it in business with dailymail.com.
Celebrity stylist-turned-inventor Lindsay Albanese shares tips on how to be successful in business
1. Believe in what you’re doing and don’t be afraid to take risks
‘I never pursue anything unless I believe in it like a religion,’ said the Los Angeles-based businesswoman.
‘That is the secret to pushing through when things get tough.’
According to Lindsay, the most important attributes a woman must possess to start her own business are fearlessness and the willingness to embrace uncertainty.
‘The belief of the dream and the vision has to far outweigh the fear of the fail. Being risk tolerant is number one when pursuing a small business.’
2. Hire a financial advisor
It’s important to make smart money moves. A financial advisor can focus on what they do best, so you can focus on what you do best, running your business.
‘The product business is a very complex and expensive industry and it’s easy to overspend without even knowing it and that is why most businesses fail,’ explains Lindsay.
‘Even as a self-funded company I prioritized hiring a financial consultant early on which is why I have made practical moves when scaling that have built us into a profitable company within four years.’
3. Rethink the concept of failure
‘I like to think of it more as problem solving,’ revealed Lindsay.
‘Although failure is always a possibility with anything you pursue, I believe that if you feel purpose and excitement behind the business you are building, separate from the potential monetary gains, those intentions are what’s going to fuel the journey and outweigh the potential risk of failure.
‘When misfortune does happen it’s always a truth bomb that you end up learning from that only sharpens your intuition to make more informed moves in the future.’
She’s now committed to helping other women thrive by launching The Fileist, a marketplace that supports and sells female innovated product
Other products on the site include Equipt’s workout equipment (pictured left) that looks like modern art; Nori’s handheld steamer (pictured right) and Fend’s collapsible bike helmet
4. Create something people need
‘The Fileist is not only a marketplace that supports and sells female innovated products – it’s also a place for consumers to discover the most stylish and functional serviceable style goods on the market,’ said Lindsay.
‘Each brand we feature has a story to tell in the way their products will make your life easier.’
Other products on the site include Equipt’s workout equipment that looks like modern art; Nori’s handheld steamer with six fabric heat settings and Fend’s collapsible bike helmet.
Selling something people want will turn a profit.
5. Rome wasn’t built in a day
Lindsay started out as a wardrobe stylist in her early 20s, with Kristin Cavalari, Jimmy Kimmel and American Idol as clients.
Her business today is a byproduct of her time spent in the industry.
‘There shouldn’t be a rush, I believe that the reason my company is so successful is because I sponged off a lot of my previous employers and experiences to understand exactly what I wanted and what I didn’t.
‘I truly believe all my experiences before starting my company have been the key to my success. The timing of this company is aligned with exactly where I am supposed to be at this stage of my life.’
After many years in the entertainment industry, the businesswoman pivoted from styling to inventing and created the TOPTOTE, a hat holder that attaches to your handbag, luggage or beltloop, allowing for handsfree hat transportation
6. Learn to walk before you run
You don’t always need a lot of capital to get your business off the ground, but you must be methodical in the early stages.
‘Start small and start simple – everything from the website, and inventory to the packaging. You can launch a business with one product or one idea and build from there.
‘Learn who your audience is, what they like and what they want more of. This practice builds a lean, thoughtful and long lasting company.’
7. Power of the pack
Studies show that women who support women are more successful in business, it’s about collaboration instead of competition.
‘During my journey of inventing and patenting TOPTOTE I realized there wasn’t a modern community of fellow inventors and innovators in the product space to connect with,’ said Lindsay.
‘I also learned that there isn’t a destination to discover the best of what is being created out there!’