For Ahriana Edwards, 24, her decision to start a business grew from her frustration at being denied a fashion option many young women take for granted. “Growing up, I developed a love of fashion,” she explained. “I was especially inspired by the business attire on those Law & Order shows my mom and I would always watch. I wanted to be that corporate boss woman in the room.”

True to her vision, Edwards embraced that sensibility when she started her career as a young marketing and sales professional. While working at companies like Toyota and Facebook, she adopted that “boss” look with sharp two-piece dress suits and power accessories. But she could never find the high-fashion shoes to complete the ensemble. Retailer after retailer, the fashionable options tapped out at size seven. Edwards is a size nine.

“I’ve always worn an extended shoe size since middle school,” she continues. “I found it extremely challenging to show up as my whole self in these corporate spaces without the right shoes to complement my outfit. And that’s what led me to create Vaila Shoes.”

Launched in 2021, when Edwards was just 21, Vaila Shoes is a modern footwear brand for what the Gen Z founder calls “big steppers” – women with extended shoe sizes (nine to 14) looking for stylish fashion choices in their footwear. The aim was to offer this underserved consumer base a spectrum of seasonal dress shoe collections for the workplace and after-hours. “The big steppers run in my family. We all shared the same story of feeling shy in stores trying to find our size, of not feeling feminine enough. I wanted to take that feminine power back.”

Simply put, Edwards started the company because she “felt like somebody had to do it.”

She has applied this entrepreneurial model to follow her path to developing shrewd money management skills and long-term wealth accumulation.

Edwards has confidence that the ability to snare select customers who share her same frustration with footwear limitations will also enable her to build a profitable business and advance her personal finance agenda.

The impact of Vaila was almost immediate. Her sisterhood of “big steppers” felt seen and responded with their dollars and brand loyalty. Within a year, the company had landed a lucrative deal with a major department store chain, and the company has seen continued growth ever since.

As a young entrepreneur fortunate to find early success, Edwards benefitted from the self-awareness to realize that a good idea and ready audience—while essential—will only take a fledgling business so far. Smart money management and a sound financial strategy were priorities from the beginning.

“I was first introduced to money management as a child,” she maintains. “I’ve always wanted to be an entrepreneur. In middle school, I sold candy and those silly band bracelets, and I got a feel for cash flow, what it meant to buy inventory upfront, and why you need to save what you earn to make back your investment.”

Those skills served her well in the early days of the company. Her success at various pitch competitions brought in $80,000, which enabled Vaila to get off the ground despite the company having no inventory or even a design on paper. Vaila Shoes was just a concept that sparked a demand for a product that still needed to be created. Wasting little time, she used that prize money to build inventory and finance a marketing plan. The cash carried the company through its critical first year.

“In the beginning, financial projections were always the big headache when creating our business plans. Many entrepreneurs say that, but it helps you home in on every dollar spent and how it works for you. That’s especially important in a product-based business where cash flow can be high at one point and fall off, and you have to rely on selling through to make something shake.”

Helping her through the headaches was her three-point support team consisting of an accountant, a bookkeeper, and her attorney.

“You definitely need a financial team to help figure out how much you’re spending, how the money is adding up, and exactly what you need to start the next month. As entrepreneurs, we have to run the business and the day-to-day operations. Sometimes, especially at the beginning, you can’t be as hands-on with the capital as you need to be.”

And don’t forget legal support: “You have to make sure you have your trademark and protect your baby by all means necessary because, in business, it’s all for grabs.”

Another critical concern was insurance. The meticulous entrepreneur carefully put general liability, product, and freight policies in place before shipping a single pair of shoes. “I ship a lot of my products from overseas into the U.S., and with shipping, you want to make sure you’re covered from the sea to the land to your front door. I also make sure to have a little extra coverage to protect against the unexpected.”

With three years of growth and experience behind her, Edwards is more confident in her business acumen and practices. And her goals for the company go beyond immediate business demands. At only 24, she is engaged in long-term thinking about her business legacy. “I want to have something to pass down. I am always thinking about ways to grow revenue to the point where I can exit the company and leave something behind for the next generation. I don’t want Vaila Shoes to leave when I leave.”

Viewing her youth as an advantage, Edwards has time to dream, plan, and execute. She is also focused on gaining more knowledge and guidance on such vital matters as personal finance and insurance planning, portfolio building, and tax management. Her advice to other GenZers is not to let age or limited experience hold them back.

“Being young in business can come with some obstacles. I mean, you’re growing, you’re learning. You’re entering into industries where others may know more than you do. But age won’t mean anything if you keep going and have the right team in your corner. Don’t feel like your age is a barrier to entering these spaces because you absolutely deserve a seat.”

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Melissa Orijin recalls the moment she will “never forget.” While shopping for toys, she witnessed her young daughter, Esi, select a Caucasian doll with blonde hair. Although she taught her daughter to be proud of her familial ties to Cabo Verde (or Cape Verde) and Ghana in West Africa, Melissa noticed Esi began to shun her skin tone and curly hair when she became the only Black girl in class at school. Another blow to Esi’s cultural esteem: Melissa could not find a doll that resembled her child.  

Devastated by the experience, Melissa believed she and her husband, Archyn, failed their eldest daughter. She eventually discovered a solution to this vexing problem through her husband’s game-changing suggestion: “Well, why don’t you just create the dolls you want to see?”

That life-changing idea produced a flourishing business and a viable pathway to generational wealth. 

Melissa launched Orijin Bees in 2018. Over the past half-decade, the company grew into a disruptor within the toy industry, selling 30 multicultural dolls, according to its website. It offered a collection of dolls representing Black and Brown children with assorted complexions and hair textures. 

The ambitious founder also became driven to use Orijin Bees as a wealth-building vehicle for Esi, her creative partner, and the rest of the family.

With a mission encouraging self-love and inclusion, the brand proved to be a huge hit with customers—including several celebrities—and retailers. Orijin Bees gained massive exposure when it landed on “Oprah’s Favorite Things List” in 2021. 

“I wasn’t sure if it was legit because we [didn’t] have any direct relationship, and I didn’t understand how they found us,” Melissa says. “But the guy upstairs made it happen.”

Furthermore, according to Advertising Week , Melissa expanded Orijin Bees’ product reach by scoring partnerships with retailers such as Target, QVC, and Maisonette. The website also reported that the company plans to launch Sankofa Bees in 2024. Programmed using AI, the doll will interact with children by telling folktales, teaching them different languages, and playing multicultural tunes. Melissa says: “We don’t want our kids to be anything other than who they are.”

Now, the company is braced for more growth within the toy industry. Rising demand from targeted consumers and greater spending by parents on children’s toys have been reported as contributing growth factors. 

Launching Orijin Bees, however, has not been child’s play. As a CPA with 20 years of experience in the financial services sector, Melissa made the tough decision in the startup phase to leave her secure job to operate the business full time. She was able to apply her finance and management skills to ensure its profitability.

Melissa made the firm a money-maker by focusing on distribution, making the product line available on its website, marketplaces, big-box stores, and through partnerships with an array of organizations. “As we increase our production, it decreases our unit costs. So, the goal is just to continue to grow without sacrificing the core of what Orijin Bees is,” she says.

A self-funded venture, Orijin Bees has and maintains its forward momentum through bootstrapping. That type of funding can allow a business to rely on financing from an owner’s personal savings or operating revenues while remaining independent. “We’re family owned, and we haven’t brought in investors, but we’re not necessarily against it,” Melissa says. “We would only be open to the right investor because we don’t want to change how we run our business.”

Orijin Bees has served as a wealth-building asset and financial education tool for the millennial couple and their children—two daughters and a son that range in age from nine to four. (They also include Archyn’s company, Orijin Culture, an Afro-luxe fashion brand, as part of their strategic plan.)  

Financing college educations—including the development and execution of a savings and investment strategy—and teaching their children money management and budgeting skills represent the couple’s highest priorities. 

Melissa emphasizes insurance and retirement planning as vital items for them to check off their generational wealth agenda for their children. She believes “whole life insurance is really a great way to enhance wealth planning.” Building cash value and retirement income are among the advantages of whole life insurance over time. But the coverage can come with pros and cons. 

“No matter how old they are, no matter how great they’re doing, I would want to be able to be a part of building that generational wealth for my children, my grandchildren, my great-grandchildren.”

Further, the Orijins plan to enhance their family’s financial well-being and provide options with the inclusion of real estate. “So, just having different streams of wealth generation, that’s how we focus on our retirement and what we’ll leave to our babies.” 

Melissa maintains their daughters have already gained valuable entrepreneurial and financial insight that can apply to the company’s potential and their respective financial future. Says Melissa: “They know the dolls…they know so many parts of our business that if they choose to take our businesses on when they’re adults, they will be 1,000 steps ahead. They would be able to take the business to levels that we could only imagine.”

If they choose not to move forward as business owners, Melissa believes her children will have businesses that will generate wealth for them and provide resources for any other dreams they seek to fulfill.

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Kathy Fogle, the creative force behind Happy Kat Candles & Gifts, is building her unique wax brand into exquisite works of art. Based in Charlotte, North Carolina, Kathy has not only mastered the art of candle making, but she has also created a thriving business with multiple locations and a growing number of vendors. Along the way, she has illuminated the steps required to bolster her financial education.  

A seasoned hairstylist of 30 years, Fogle stumbled upon candle-making by accident. Fueled by her love for dessert scents, she embarked on a mission to create candles that smelled delightful and resembled delectable treats. Little did she know that this passion would evolve into a successful business.

Her transition into the new venture initially proved to be a juggling act. Balancing her daytime hairstyling job with evening candle-making sessions, she gradually honed her craft. It wasn’t until 2016, after a pivotal surgery, that she decided to plunge into candle-making full-time.

By 2017, Fogle officially launched Happy Kat Candles, starting with small popup shops throughout Charlotte. However, her company took another unexpected turn when Happy Kat Candles won a competition – Battle of the Popups at a local mall – and gained a permanent, brick-and-mortar location.

Happy Kat Candles has since expanded to three venues, offering customers an assortment of unique candles designed to resemble foods and drinks. As a result, the appealing designs and enticing aromas make her product line a highly sought-after gift for special occasions.

She has expanded her venture to include hosting candle-pouring parties and providing customers hands-on experience. One of the standout features that has contributed to her brand’s growing popularity has been seasonal collections in which she offers limited-edition candle designs for holidays and special occasions. Moreover, she also features products from 25 local vendors, promoting a sense of community and collaboration among other small businesses.

Beyond entrepreneurship, she has spent much time navigating the challenges of financial planning. Due to her upbringing, Fogle admits she has been a late bloomer in personal financial management. “In terms of financial education, I didn’t grow up in a household where we had those discussions at the dinner table. I learned through trial and error.”

In transitioning from a self-employed beautician to a full-fledged business owner, Fogle found it necessary to proactively seek assistance from a team of financial professionals. In addition to seeking to engage in financial planning, she has been focused on the value of such areas as tax management and portfolio building in her pursuit of a comfortable retirement. She says: “I’m getting a late start, but I’m headed in the right direction.”

As she balances priorities of meeting customer needs and developing strategies to ensure her financial goals, Fogle currently handles the vital role of a full-time caregiver for her father, a military veteran. This added responsibility has reshaped her daily routine, but she has been fortunate enough to gain support from the Veterans Administration to help manage her caregiving duties.

Looking ahead, Fogle has focused on growth plans for her company, including the nationwide expansion of the Happy Kat brand through its online presence. The brand’s social media channels foster a greater connection with its audience through product highlights and glimpses into the creative process.

A dedication to continuous learning marked Kathy’s journey. She attends workshops and industry events and remains at the forefront of candle-making trends, ensuring that Happy Kat Candles stays ahead of the curve. Her commitment to refining her craft is evident in the quality and uniqueness of each hand-poured candle.

Despite her achievements, Kathy remains deeply rooted in her values. She actively gives back to the community by supporting local charities through unique edition candles, with a percentage of proceeds going to causes close to her heart. This philanthropic aspect of Happy Kat Candles aligns with Kathy’s belief in using her success to make a positive impact beyond her business.

Securing a bright future, however, will require her to follow her goal: her commitment to continuous financial education. 

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