Have you ever met someone who instantly made you feel alive? Someone whose energy was so abundant and contagious?
For March’s motivated millennial series, I am SO excited to share the story of a young, passionate, entrepreneurial woman who I’ve enjoyed getting to know both professionally and personally. Her name is Rachel Sipperley, founder of Rent My Wardrobe.
Rachel and I initially connected on Instagram last fall when Rachel introduced me to her app as it was making its debut in Dallas. The app sounded SO genius that I was very interested to learn more, and we agreed to meet in person to talk further.
Her business is genius, but so is she. Her story, how she has overcome some major obstacles, her ambition and her full transparency both in person and through her personal Instagram is what initially drew me to get to know her and now call her a great friend.
The Rent My Wardrobe concept is simple – it’s an online marketplace for renting clothes peer to peer. Let’s say I have a wedding or a conference to attend, and I don’t feel like dropping $500+ on 2-3 looks.
I can simply go to the Rent My Wardrobe app and shop through thousands of local closets for the perfect look at a fraction of the cost.
For women like me, it’s also a great place to make some extra cash. My closet has so many dresses and occasion pieces that barely get any attention. Now, I can actually make money on the things just hanging in my closet.
Tell us about yourself 🙂
What made you decide to start your journey as an entrepreneur?
It actually was a mix of serendipity and fate. I was working for a consulting firm in an industry I had been in for 5 years. I made fantastic money but no longer felt intellectually stimulated or challenged.
A friend and I discussed the idea and hashed out some concepts one evening and as fate would have it, one week later my lucrative position was eliminated when I exceeded my sales quota 10 times over! I used the severance package to completely self-fund and launch the brand one week later.
What has been your biggest win so far?
We secured pre-seed funding with Court and Kam Westcott of Dallas and two months later I found my unicorn executive producer who helped us architect, design, and code the current app. After that I found our CFO, “Chief Fashion Officer”, and market director. The team continues to grow and expand and I count my lucky stars for having such a talented, hardworking team!
What has been your biggest lesson learned?
Contracts don’t mean squat in startups. If you don’t have $50K to take someone to court, your piece of paper isn’t going to help you, so you have to partner with people who you know and trust and have a proven track record of success.
Talk to references. Do your homework. And above all else….. TRUST YOUR GUT. Us girls have this magical and God-given gift called intuition…practice using it… it’s the best tool you have in your arsenal and for me once I finally learned to listen to it my business took off!
What inspires you to keep going every day? Especially on the bad days?
I have a tribe of incredibly talented, supportive, business women who are on a mission to empower each other and not let another fail. We call to vent, to celebrate, to get advice, to strategize…. Sometimes just to cry.
You need to find mentors and people who have your back who will be there for you on the hard days. Because you are going to have the hard days. And if this is your first business, you are going to have them more often than not. I would not be where I am today if it were not for the constant encouragement and motivation from my boss babes!
Who are your biggest role models? (Can we say who inspires you?)
What advice would you give to someone like yourself – the girl who wants more, to do something for herself, but is afraid to get started?
Life is short, you don’t know until you try. Jump off the cliff and build the plane on the way down. There is no manual. Nobody is going to hold your hand and tell you what the right answer is…. And a lot of times there simply isn’t a “right” answer; but that’s the point of it. I’d also say make sure you have fun.
What’s the best way to keep up with you? (social, blog, links, etc..)
If you are local to the Dallas Fort Worth area, please join us at the Rent My Wardrobe official launch party on Thursday, April 4th. I will be there and hope that you can join me! Get FREE tickets here. (Participation required):
For Free Tickets:
- Space is extremely limited. Tickets are first come first serve
- Download the app and add 3 listings to your closet to get an invite for you and guest. Email firstname.lastname@example.org when complete for guaranteed entry :).