This week in our ongoing Meet the Maker series, we’re getting to know Megan Close of The Lovely Wall Co., a line of quirky wall decals and removable designer wallpaper made with love in Oklahoma City. Welcome, Megan!
LBC: What inspired you to take your leap as an entrepreneur?
Megan: The Lovely wall Co. came about as a happy accident. After 8 years of being an apparel designer in the corporate design world, my husband and I decided to start a vehicle graphics business (crazy, I know). After we decided that it just wasn’t the business for us and my husband returned to his former job, I knew that I just could not return to the daily grind of the corporate world. Armed with a giant printer and plotter and a need to create beautiful, true-to-myself designs, The Lovely Wall Co. was born.
LBC: When you first got started, how did you envision your business would be defined?
Megan: Always being a sucker for interior design, I wanted to be able to help people create amazing, on trend spaces and truly express their own creativity with the help of my work.
LBC: Where can we find your products?
Megan: Etsy, our website, Brit + Co., Houzz, Project Nursery, and Amazon.
LBC: Walk us through your typical work day.
Megan: After dropping my little one off at preschool and picking up my morning coffee, I make my way to the studio and immediately go into the print room to get started on the orders for the day. Printing, cutting, and packaging with my assistant for the better part of the morning makes the morning fly by. I try to make the afternoons all about answering emails, website updates, designing, getting orders ready for print, and anything else that pops up. Everyday is a little bit different, but always fun and challenging.
LBC: What are 3 things makers should think through when they initially decide to start a business?
Megan: 1. Margins and pricing for your products/services. It is really important to do your research on competitors’ pricing and the margins that you need on each product to make the best possible profit, while still pricing competitively.
2. Understanding the laws and taxes relating to your business.
3. Making sure your expectations are realistic and achievable.
LBC: When you’re overwhelmed, what brings you back to focus?
Megan: I just focus on marking things off of my to-do list. The more I mark off and get done, the better I feel. I know it sounds simple, but it really works for me. As long as you have a process in place to complete tasks, it will be much easier to accomplish what needs to get done.
LBC: Tell us about a few of the best business decisions you’ve made to date.
Megan: The overall best business decision that I have made is to stay true to my design aesthetic and not design certain things just because that is what is trending at the moment. I am also very happy that I have decided not to just sell from my website only, but have expanded to other platforms that cater to my target customer; it has really expanded our reach.
LBC: Please share one mistake or obstacle from your business experience. How did you bounce back/overcome it?
Megan: Not coming from a business background, but only from a design background, there was a huge learning curve. The accounting aspect is one that I really struggled with. What with growing so quickly, it became extremely important to figure out our margins, set realistic sales goals, set up budgets for different aspects (marketing, props, etc.) and I had no idea how to do this correctly.
I was lucky enough to have family members who have their own companies, and they helped me get the correct software and gave me the tools to track everything correctly. I would strongly recommend taking a business course or two prior to starting a small business, or sitting down with a couple of business owners to ask them their advice about certain areas that you are struggling with.
LBC: Is there a cause or organization that you contribute to that you’re particularly passionate about?
Megan: I am extremely passionate about making sure the less-fortunate children of the world are given a chance to reach their potential. We contribute to local causes that provide food, clothing, and other services to children in need. I think it is important to take care of our neighbors.
LBC: Suppose we had a time machine. If you blasted ourselves forward a few years, where would we see your company?
Megan: I would just love to see the company still producing wonderful, forward-thinking designs and expanding the product line to include more than just wall decals.
LBC: If you could hire someone to do just one thing that you sort of loath doing, what would it be?
Megan: Shipping labels and dealing with the post office!
LBC: What’s your spirit animal?
Megan: Narwhal.
LBC: What’s your favorite quote and who said it?
Megan: “The hard work will put you where the good luck can find you.” -Unknown
LBC: If you were given a million dollars, but were not allowed to keep a single penny for yourself, friends or family, how would you spend it or give it away?
Megan: I would 1) set up scholarships for underprivileged teens to go to college, and 2) support children’s cancer research.
Thank you, Megan, for sharing your talent with us! We absolutely love your work and we look forward to all the wonderful things ahead for The Lovely Wall Co.! We’re cheering you on…
Want to see your brand featured in our continuing “Meet the Maker” series? Drop us a line: hello AT luckybreakconsulting.com. Please use “MEET THE MAKER” as the subject line and be certain to include your web address. We look forward to hearing from you!
