How to Stop Overthinking & Get Started, Turning Your Passion into a Real Business with Sarah Davis, Founder of Fashionphile

Sarah Davis is the Founder and President of FASHIONPHILE, the
leading resale platform for pre-owned, ultra-luxury accessories


Back in 1999, Sarah realized that luxury handbags and accessories
maintained their value on the secondary market better than just
about any other category, so she started selling handbags on eBay
to make some extra cash.


From what began as a startup operation in Sarah’s house, grew
into a 30,000 sq. ft. headquarters in Carlsbad, California, and
brick-and-mortar showrooms across the country. Under Sarah’s
innovative leadership, Fashionphile is paving the path to
revolutionize not just re-commerce, but the entire retail
industry with a 2019 investment and minority stake in
Fashionphile from global retailer Neiman Marcus Group. The
strategic partnership makes Neiman Marcus the first major luxury
retailer to expand into the pre-owned market, a move that
includes the opening of physical Fashionphile Selling Studios
inside Neiman Marcus locations nationwide.


In our episode, Sarah discusses the significance of taking
action, regardless of how small it is, in order to start a
business. She also shares a step-by-step approach to how you can
stop overthinking and start taking action to see results.


Sarah walks us through how she decided to go all into her
business despite being a recent law school grad and getting a lot
of pushback from her family and friends. Sarah's journey is
incredibly impressive, she talks about how she self-funded the
business for many years, how she structured her partnership with
her brother-in-law, and how focusing on each customer was really
the marketing engine for her business and helped them grow to
multi-million dollars in revenue. We also talk about how to find
your passion and your edge, and how that could be your biggest
competitive advantage when starting a business, and so much more.


* Businesses grow through iteration; you don’t have to create
something perfect the first time around! [03:44]


* Experiences from Sarah’s childhood that helped to cultivate her
entrepreneurial spirit. [05:26]


* The career path that Sarah was pursuing prior to founding
Fashionphile. [08:00]


* Where the initial inspiration for Fashionphile came from.
[11:24]


* The interaction that catalyzed the growth of Sarah’s small eBay
business into the leading luxury resale platform it is today.
[19:24]


* Backlash that Sarah received for her decision to not become a
lawyer. [24:34]


* What made Sarah stand strong in her decision to follow her
dreams with Fashionphile despite what the people around her were
telling her. [26:00]


* An overview of the evolution of Fashionphile over the past 20
years. [30:51]


* How Sarah’s business partnership with her brother-in-law, Ben,
came about and why it has been such a success. [38:11]


* The funding strategy that Sarah and Ben chose for Fashionphile.
[48:47]


* What Sarah has loved about being an entrepreneur. [56:00]


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Follow Sarah:


* Website: https://www.fashionphile.com/


* Instagram: https://www.instagram.com/fashionphile/











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