Female Startup Club

6 Quick Questions with Midnight Mischief founder Tess Nguyen (Part 2)

October 9, 2024

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  • Embracing unique marketing initiatives like 'Christmas in July' can differentiate a brand and create memorable moments. 
  • Learning from experienced business owners, especially those with similar backgrounds, provides invaluable practical advice and perspective. 
  • Significant financial mistakes, such as not having contracts or misjudging inventory, are often unavoidable learning experiences for new entrepreneurs. 

Segments

Defining Your ‘Why’
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(00:00:12)
  • Key Takeaway: A strong ‘why’ is rooted in gratitude for opportunities and a desire to maximize personal success and well-being, especially when reflecting on family heritage.
  • Summary: The conversation begins with the question of ‘what’s your why,’ prompting a reflection on personal motivation, gratitude for life in Australia, and the influence of refugee parents from Vietnam and their lack of opportunities.
Innovative Marketing Moments
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(00:00:59)
  • Key Takeaway: Creating unique marketing campaigns, like ‘Christmas in July’ for a pajama brand, can be a significant differentiator and a source of pride.
  • Summary: The discussion shifts to favorite marketing moments, highlighting ‘Christmas in July’ as an innovative idea inspired by another brand, and the success of being the first pajama brand to sell during that period.
Business Learning Resources
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(00:01:32)
  • Key Takeaway: Learning from practical, facts-based advice from experienced business owners, particularly other female entrepreneurs, is crucial for overcoming unique challenges.
  • Summary: The guest shares her preferred business resources, including the host’s podcast and creators like Layla and Alex Mosey, emphasizing the value of direct, logical advice for business owners who may be more emotional.
Money Mistakes and Lessons
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(00:04:51)
  • Key Takeaway: Early business mistakes, such as failing to secure wholesale agreements, ordering incorrect inventory, and underestimating shipping costs, are valuable learning experiences that prepare entrepreneurs for larger challenges.
  • Summary: This segment delves into costly money mistakes, including a failed wholesale deal due to lack of contract, ordering unwanted bamboo shirts, expensive air shipping, and a significant tax bill due to poor financial management.
Forbes 30 Under 30 Journey
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(00:07:14)
  • Key Takeaway: Achieving recognition like Forbes 30 Under 30 is possible through self-nomination and building social proof, serving as inspiration for others from similar backgrounds.
  • Summary: The conversation covers the ‘crazy story’ of being named to Forbes 30 Under 30, detailing the nomination process, the importance of background and social proof, and the significance of this achievement for individuals from underrepresented communities.