An Interview With Fotis Georgiadis
Starting a business is costly. You have to spend money to make money, and you will make mistakes in the beginning while you get on your feet! Roll with the punches and learn from your errors along the way because you will come across obstacles no matter how much you prepare yourself.
As a part of our series called “Making Something From Nothing”, I had the pleasure of interviewing Kelsey White.
The Folsedo founder has taken her passion for fashion and her expertise in the industry to launch her bag line that uses luxury materials from Italy but produces them in her native Los Angeles. It was in 2020 when the world shut down that the former lifestyle blogger was able to focus and pursue her dream of starting her own brand, which ultimately launched in 2021. With hard work and determination, Kelsey released the first style, The Bucket, and is growing Folsedo from there.
Thank you so much for doing this with us! Before we dive in, our readers would love to learn a bit more about you. Can you tell us a bit about your “childhood backstory”?
I grew up in Los Angeles and had an infatuation with fashion at a young age. Everything from clothing to jewelry to accessories. I love the way a person lights up and confidence is gained when they wear something they love. I studied fashion marketing in college and started a fashion and lifestyle blog in 2014. Since then, I’ve worked various marketing positions in the fashion industry building brands. Throughout the years, there was always a little voice in the back of my head telling me to launch my own business. To be honest, I didn’t do it for the reason why many don’t…I was scared and was busy. Fast forward to 2020 when life slowed down a bit, I was able to focus on my career dreams and goals. I didn’t know what kind of brand I wanted to start for a while, but then it clicked — handbags. My grandmother always had the most beautiful handbags that I admired. I love how they are luxurious, ageless, season-less, gender less and beyond. Folsedo was born in 2021. Having grown up in L.A., I knew that I wanted to produce locally and sustainably working with local craftsmen. I didn’t want to miss out on the luxury of European materials, so all of my materials are imported from Italy. I am fortunate to have made meaningful relationships within the fashion industry to help put my line on the map. I hope to continue to design bags that spark joy and last a lifetime.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“When hard things happen you have three choices: let it define you; let it destroy you or let it strengthen you.”
This quote is something I remind myself of every time I’m in a situation that is discouraging or challenging. We all go through hard times, insecurities and pivots in life. If you look at the plot twists as opportunities, you’ll always see the light.
Is there a particular book, podcast, or film that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
Atomic Habits by James Clear resonated with me because it made me realize how important little tweaks in your daily habits can drastically enhance your life. Baby steps make a big difference when they are all combined together.
There is no shortage of good ideas out there. Many people have good ideas all the time. But people seem to struggle in taking a good idea and translating it into an actual business. Can you share a few ideas from your experience about how to overcome this challenge?
If you have an idea, share it with your friends or partner. Ask what they think. Research and gather insight from others and develop a business plan to present. What does your product offer that is unique or is not already available in the market?
Often when people think of a new idea, they dismiss it saying someone else must have thought of it before. How would you recommend that someone go about researching whether or not their idea has already been created?
There’s nothing “new” about handbags. They have been around for a very long time, but I knew I had something powerful when I wore a sample of The Bucket and got stopped in the streets at the grocery store by strangers. The key to making a unique product that already exists is having the magnetism factor and optimizing your marketing strategy. .
Google is your best friend. Research aggressively. Start a spreadsheet with similar products, brands and see what you can offer that sets you apart from your competitors.
For the benefit of our readers, can you outline the steps one has to go through, from when they think of the idea, until it finally lands in a customer’s hands? In particular, we’d love to hear about how to file a patent, how to source a good manufacturer, and how to find a retailer to distribute it.
Start a business plan
Open a business account whether it be a Sole Proprietorship, S-Corp or LLC.
Source a manufacturer and make your first sample.
Test your product out in the wild. Get all of the feedback you can.
Once you are satisfied with the product, move forward with your first production run. Get your license and permits — seller’s permit, Tax ID
Decide whether you want to sell DTC or wholesale and structure your pricing around it. Set up an online store through Shopify.
Market your product with social media, your network and PR.
What are your “5 Things I Wish Someone Told Me When I First Started Leading My Company” and why?
Starting a business is costly. You have to spend money to make money, and you will make mistakes in the beginning while you get on your feet! Roll with the punches and learn from your errors along the way because you will come across obstacles no matter how much you prepare yourself.
Let’s imagine that a reader reading this interview has an idea for a product that they would like to invent. What are the first few steps that you would recommend that they take? There are many invention development consultants. Would you recommend that a person with a new idea hire such a consultant, or should they try to strike out on their own? What are your thoughts about bootstrapping vs looking for venture capital? What is the best way to decide if you should do either one?
I would suggest starting with bootstrapping. Utilize the power of your own knowledge, the Internet and your network around you. Venture capital is a powerful offering when the timing is right.
How have you used your success to make the world a better place?
I hope to instill confidence and connect women by supporting each other in the #FolsedoFriends community.
You are an inspiration to a great many people. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be?
Stay curious. Read more and get off of social media! I can be guilty of this at times, but every time I catch myself, I pick up a book that grows my skill set or opens up my mind. This helps to build confidence and a fresh perspective.
We are very blessed that some of the biggest 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, and why? He or she might just see this if we tag them.
Rihanna. I’ve admired her for years and look up to her original sense of style and business mindset. I think it’s so cool that she was on top in the music industry then decided to pivot into entrepreneurship, which ultimately led her to lead successful beauty and fashion powerhouses.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
Making Something From Nothing: Kelsey White Of Folsedo On How To Go From Idea To Launch was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.
