How did an emerging company worth $ 100 million during the 2008 financial crisis

This exciting article depends on the conversation with Jenny Jing Chu, 51, founder and CEO of New Jersey in Lush Decor, a digital home decor company. Share with Business Insider Challenges to start business In unsure time and how you overcame it. Bi has stumbled her company information.

When the whelved decor started in 2008, I was quietly wandering in the most difficult time in my life.

The economy was collapsing. I was on the verge of divorce. I learned how to be the father of my 1 -year -old son. I was an immigrant New York Broken English is still speaking.

But I have already survived a lot of difficult things in my life and I think these experiences in the end helped me succeed in work.

I grew up in a small rural village in China. I had no electricity until I was in the second row. I was the only girl in my village who went to high school.

In my last year of school, I read a story about a young woman with a similar background to me who left her village for the big city of China to become a factory worker. She later started her own work.

That moment changed my life. You gave me permission to dream.

Therefore, I left my village and went to Beijing. She started as a hotel maid, after which a small dry cleaning company ran.

I immigrated to the United States when I was 26 years old.

I did not speak English a lot at the time. My ex -husband wanted to come to the Faculty of Law. I really had no choice. I remember when I first got here, I turned on the TV and felt I was in Mars.

During the time, while I was learning English, I became inspired by the Asian fashion designer. I applied to the fashion design program of the Fashion Institute of Technology, but the pioneer was able to compete. The school told me to wait another year and progress again. But I was twenty -eight years old and I did not feel that I had spent another year to wait.

Therefore, I ended up providing progress to home roofs, home house and acceptance.

We grew up in my village, we planted and chose the cotton, and my grandmother put it in its spinning on the big and wooden horizon. We will bring the fabric to the market, and this is what inspired my love for textiles.

After graduating, I worked for a four -year home fashion company. But I always had a dream of entrepreneurship, so after learning to work, I felt I could do what is better. I saw an empty space on the market for beautiful and elegant designs as well and at reasonable prices.

When the company started, there were two people working with me. My function mostly focused on design and product development.

I was working 24 hours a day at the time. I would like to design during the day and talk to manufacturers at night because we had a 12 -hour time difference.

But in 2008 and 2009, all the adult retailers began to freeze the purchase due to the financial crisis. They did not want to take any chances of new sellers.

At that time, e -commerce was still new in home fashion space. Everyone told me that I cannot charge living or bed to one customer at one time. They said it would be very expensive and people will not buy our products.

But I did not really have any option, because I could not make traditional commercial deals given economic challenges and limited trade relations.

We had this very small warehouse behind our office, and at the end of each day, I would go to FEDEX slaps and stickers on the boxes one by one in my high punishment. Many people did not do this in these days. There was no road map. I have just learned in the job.

Our designs were unique in a boring market. Our first collection was inspired by Vera Wang’s wedding dresses. The mattress had hundreds of small arches and selling them. I also use unique fabrics. I returned to China once and found the crocodile skin. I put it on a bag and sold many of them.

We have distinguished ourselves with unique designs, which put us in the field of e -commerce. Very quickly, we became the main brand in the e -commerce market, where millions of products were sold to customers.

It was scary to start a business in that economic environment.

I knew that only a small percentage of companies escaped in the first three years. I felt a lot of pressure in those early days because I was all alone.

I had no compact customer base when I started. No teacher or support society around me. I had no safety network to retract it. I had such bad antichrist syndrome.

I had no Master of Business Administration or a financial background but I am very good in numbers. When I met investors, I told them, I am not only interested in designing beautiful products; I also design beautiful margins.

All I have was passionate and perseverance, and this helped me build flexibility along the way.

At every stage of my life – whether it grew up in the village or being a maid or nanny in the hotel – I always found creativity to make him work. I think this is in the DNA of project owners.

I was afraid to death too, but you have to take this first step.

We first saw a profit in 2012.

I still remember seeing this number rises. I thought, “My God, this is the right direction!”

In 2018, I partially sold to private stocks. She remained in an executive president for another three years and then as a member of the Board of Directors. In 2021, the company exceeded more than $ 100 million in revenue for the first time.

However, the new administration did not end, so I fully returned to the company last year.

The recent definitions have struck many companies, such as our companies. Tried Start Work at a time like this is the most difficult. The 2008 economic crisis was 1.0; The epidemic was 2.0, and these times are like 3.0.

We are a source abroad, and this has definitely reminded entrepreneurs that we need to diversify our supply chains. But despite this, there is not much that you can do to diversify overnight. Many things that come from China, other countries cannot efficiently do. Definitions not only raise prices; They are already threatening the fragile supply chain.

Many of the business community in really difficult situations now. Such times, companies can compel something likely to fail to do, which diversifies their supply chains. Yes, it’s very overwhelming, but you are not alone. We are all in the same boat.

Entrepreneurs need to understand and accept what they can control. Do not panic. Do not get angry, although we are angry. Depend on your community, depend on your resources. Every time you pass things that can break you, you build more flexibility and confidence.