Female Founders: Monique Terry of Bold by Monique On The Five Things You Need To Thrive and Succeed as a Woman Founder
An Interview With Candice Georgiadis
If you have the drive and the determination, being a founder is so rewarding. Not just financially but seeing something that you created grow is indescribable and so gratifying.
As a part of our series about “Why We Need More Women Founders”, I had the pleasure of interviewing Monique Terry– Founder of Bold by Monique.
Founded by Monique Terry in November 2019. For Monique, the constraints and demands of corporate America left her creative soul yearning to break free. In her free time, she started designing edgy statement pieces with handwritten inspirational messages. The simple words of encouragement or scripture are beautiful reminders to keep pushing forward. Soon after launching her initial line, she uprooted her life in the DC metro area and relocated to Dallas, TX. Why? She still doesn’t know what made her take that initial leap, but it has been the best decision for her and her business. Soon after arriving, her local and national following quickly grew and has turned into a tight knit community. Monique’s wants to encourage others to keep going and not be afraid to take bold steps in life. BLDxMonique fuels her creativity while uplifting and inspiring people all over the world!
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
Absolutely! I’m originally from the DC area and worked in the Government Defense and Aerospace sector for years. I’ve always been a creative, free spirit and the corporate environment was literally draining every bit of me and honestly, I had fell into a bit of depression. It was the feeling of knowing I was supposed to be doing more, something fulfilling but not knowing what or even how. One day I was at my desk at work and wanted to create a product of positive reminders because I knew I couldn’t be the only one feeling this way. I started designing rings, necklaces, and bracelets with little messages during company time in my cubicle lol. At night I would learn about jewelry making, sourcing the best metals, and then vetting manufactures. I actually put my home up for rent and moved in with my sister to save up the capital to start. Looking back, it was sort of a blurr as my focus was intense but 8 months later, I was able to launch BldxMonique in November 2019.
Can you share the most interesting story that happened to you since you began leading your company?
I would say actually traveling to new cities and meeting strangers who have purchased our affirmation rings. When I first moved to Dallas, I was out to dinner with a new friend, and when the other guests started to arrive, they were all wearing BLDxMonique rings! The same thing happened in Miami last year! Oh, and scrolling on Tiktok I’ll see viral videos and spot a ring. Lol It’s such a cool feeling!
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I believe the first week we launched, a Boutique in Chicago asked if we did wholesale. I eagerly responded “of Course”! I had absolutely no clue what I was doing so I did what anyone would do… I went to Youtube to try to figure it out. Lol! This store actually ending up purchasing 40% of my launch inventory and I literally had no clue how to package and ship it out. It all works out though and she loved the rings.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I wouldn’t be anywhere without the support of my family and friends from back home in VA. I grew up in a very close-knit community and church. Even though I’m in Texas, they support every single launch, every article, they’ll comment on all my socials, and it feels so good to continually see them order and support the brand and even refer BLDx to all of their friends! There isn’t any particular one person as I’m just so blessed.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. According to this EY report, only about 20 percent of funded companies have women founders. This reflects great historical progress, but it also shows that more work still has to be done to empower women to create companies. In your opinion and experience what is currently holding back women from founding companies?
Owning a business is HARD. There could be a number of reasons but most women I come into are held by fear. The fear of not being able to obtain finances, or the fear that it will actually succeed and providing income just to live in general. Often having the support is a great hinderance on why some women don’t step out there.
Can you help articulate a few things that can be done as individuals, as a society, or by the government, to help overcome those obstacles?
A lot of potential business owners don’t realize that platforms like Shopify and PayPal offer capital for small businesses. You just have to get started and stay true to the course to qualify for these programs.
This might be intuitive to you as a woman founder, but I think it will be helpful to spell this out. Can you share a few reasons why more women should become founders?
If you have the drive and the determination, being a founder is so rewarding. Not just financially but seeing something that you created grow is indescribable and so gratifying.
What are the “myths” that you would like to dispel about being a founder? Can you explain what you mean?
Oh man! I hate when people say “copying is the sincerest form of flattery”- Oscar Wilde. We see brands on Instagram trying to copy our original designs all the time and it’s so frustrating. To create intentional pieces and then have people just try to sell your ideas doesn’t exactly feel flattery! To be completely honest I have to remind myself to not focus on that and to just keep going. At the end of the day, I’ve noticed others can’t sustain a business by copying. They always seem to fall off.
Is everyone cut out to be a founder? In your opinion, which specific traits increase the likelihood that a person will be a successful founder and what type of person should perhaps seek a “regular job” as an employee? Can you explain what you mean?
The greatest trait a founder should have been self-discipline. Growing up I was in so many sports and believe the structure sports provided, absolutely set me up for success business wise. In high school I was used to doing 8 hours of school, then a 2-hour track practice, dinner, homework, and then back to school at 7pm for competitive cheer practice. As an adult, I worked in HR, but was a professional cheerleader for an Arena Football team. I would work 8 hours, then drive 2 hours in Dc traffic just to then have a 3-hour cheer practice and drive an hour home. Those days I wouldn’t see the sheets until 1am. That’s the type of discipline founders should possess. The grinding behind the scenes is what makes one successful! There will be many days where the fruits of your labor won’t be so evident, but if you keep going, it’ll all work out!
Ok super. Here is the main question of our interview. What are your “5 Things I Wish Someone Told Me Before I Started” and why? (Please share a story or example for each.)
Start researching good accountants now.
Always be willing to pivot.
Don’t fall in love with every idea. What you think will work doesn’t always. and what you think won’t work often times does.
Keep the blinders on. Don’t focus on what everyone else is doing
Keep your overhead low and reasonable for as long as you can!
How have you used your success to make the world a better place?
I hope I have! I’ve had customers who’ve emailed that they wear their affirmation rings to dialysis or chemo as a reminder to keep pushing. Some women are leaving relationships and wear our “know your worth” or “you are enough” to replace their wedding rings. That’s what it’s all about right?
We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them
Serena Williams are you reading this?
I absolutely love how she is the brand! Sports, fashion, jewelry, influencer….. she does it all and that’s how I aspire to be!
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
Female Founders: Monique Terry of Bold by Monique On The Five Things You Need To Thrive and Succeed… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.