Many women struggle to balance work and family, but for Kim Madden, president of the ponytail and hair accessories company Sassy Tails, LLC, the task is easier because her nine-year-old daughter, Heather, is the company’s vice president.“My daughter has been involved from the time we founded the business three years ago,” says Madden. When then six-year-old Heather rebelled against wearing hair bows, Madden began to create imaginative ponytail ornaments that soon began to draw attention.
Madden credits Women's Leadership Exchange® with helping her move her business to the next level. “I attended the Atlanta conference in 2005 and heard Growth Guru Beth Polish talk about raising capital,” Madden recalls. Using the knowledge gained, Madden put together her pitch to potential investors and attracted two angel investors. “It was definitely a turning point for my company since I was certainly at a crossroads,” she says.
With solid financing in place, Sassy Tails – and its executives -- continue to thrive. Heather is as involved as her school schedule allows. “She attends trade shows and other appearances with me when possible. More important, when girls learn that my daughter is part of the company, they reach out to us and tell us what products they want. We’ve created an informal advisory board of girls between the ages of 5 and 16, and their feedback has been powerful.”
It was through this continuous connection to Sassy Tails fans that Madden learned of girls’ interest in wearing accessories with images from the Harry Potter book series. Armed with this information, Madden cold called Warner Brothers while she was attending a trade event in Las Vegas. To her delight, she learned that the Warner Brothers executive in charge of licensing was also in Las Vegas, and she arranged a meeting.
“I called my team back in South Carolina and within a few days we had a complete mock-up of the items we were proposing,” recalls Madden. “I got 15 minutes to make my pitch, and they liked what they heard.” The result? Sassy Tails will be the sole U.S. manufacturer of Harry Potter hair accessories and related craft kits.
Madden will be the first to tell you that the connection with her young customers has been a learning opportunity for her. “When my daughter and I speak to groups of girls, we talk about our business. Girls have an amazing capacity to understand business concepts. Our whole company is driven by the power of girls.”
What does Madden hope her daughter will learn by being connected to the business world? “I’d say that it’s to never give up. When you believe in something, you do whatever it takes.”
Heather is becoming an accomplished public speaker, another valuable business skill. Mother and daughter recently addressed a group of 600 high school students and told the story of their company. “Heather has gained tremendous confidence that what she has to say has value,” Madden says, “I’m curious to see how that develops. It’s exciting.”
To learn more about this up-and-coming company, visit www.sassytails.com. To hear Heather Madden’s perspective, visit http://www.sassytails.tv.
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