[dropcap sid=”dropcap-1430924106″]E[/dropcap]lena Kosharny (’14), founder of FIVE AM Inc, is as fearless and confident as her product line of modern, feminine lingerie and accessories fashioned to offer an alternative to mainstream industry brands. FIVE AM’s philosophy reflects its founder: Be yourself. Be comfortable in your skin. Be comfortable in what you wear. Be you.
Entrepreneurship appeals to Kosharny because it meshs with her personality and drive. “I have a desire to grow and develop as a person and as a professional,” she says. “Having a business requires discovering yourself over and over again, facing your strengths and weaknesses, and, most important, finding new and innovative ways to grow your business and make your plans a reality.”
A risk-taker at heart, the entrepreneur says her confidence comes from an ability “to take any criticism and any feedback and learn from it, get motivated by it.” She adds, “In a small business, it is all about how far you can lay your gaze and what are you willing and able to sacrifice today in order to have more a year from now.”
For Kosharny, her alma mater offers an ideal environment for entrepreneurs. “Baruch is a great place to try yourself in various directions.” Of her entrepreneurship classes and of her collaboration with the College’s Lawrence N. Field Center for Entrepreneurship, she says, “Every piece of information I’ve learned, I am able to apply to various aspects of my business every day.”
Alumna Elena Kosharny Talks Entrepreneurship with BCAM
Q: What adjectives do you use to describe entrepreneurs?
A: Self-disciplined, forward-thinking, risk-taking, creative, fearless.
Q: What inspired you to start/found your business?
A: I’ve always been curious and independent. I have a desire to grow and develop as a person and as a professional. Having a business requires discovering yourself over and over again, facing your strengths and weaknesses, and most important, finding new and innovative ways to grow your business and make your plans become a reality.
Q: What skill(s) do you have naturally that help you as a small-business person?
A: I am a risk-taker by nature, so I am not afraid to face difficulties and deal with crises. It is important to have courage to step out of your comfort zone in order to realize what is really important. In a small business, it is all about how far you can lay your gaze and what are you willing and able to sacrifice today in order to have more a year from now.
I was working in a restaurant while building this business just about a year ago in order to achieve things I am able to do today. And, if tomorrow, I have to go back to working in a restaurant because that is what my business and my future goals require, I will.
Q: Entrepreneurs have to have confidence. Where did you find yours?
A: I think a person must find a way to kickstart him-/herself. It is important to throw yourself in different social and business settings to know what you’re really good at. Once you realize who you really are, what you are capable of, and what you’re passionate about, it is pretty easy to stand by what you believe in.
And I truly believe that the key to being confident is to take any criticism and any feedback and learn from it, get motivated by it, and even if its negative, it should not discourage you from pursuing what you have in mind.
Q: Was there any aspect of your Baruch education that was particularly helpful to you in your business?
A: Baruch is a great place to try yourself in various directions. It is a place that has professors whose lectures end with applause. And what’s more important, it is an affordable, diverse, and prestigious place to get an education. I studied finance, then moved to economics, and then changed my major to entrepreneurship. It was a decision I made after I started working on FIVE AM. So every piece of information I’ve learned, I am able to apply to various aspects of my business every day.
Q: What do you like/love about being an entrepreneur?
A: I am a control freak when it comes to work, so the power I have to lead and create things the way I see them is something that is really rewarding. There is also the factor of constant responsibility and risk involved, which keeps me in check and does not let me just go with the flow and lose ambition.
Q: What’s your biggest challenge?
A: Time. I hope I will be able to accomplish all the things I have planned at the right time.
Q: What keeps your customers coming back?
A: FIVE AM is a very personal and very consumer-oriented business. The e-commerce industry generally relies on automated processes to get things straight from the factory to the consumer. More often than not, people who buy online get a brown box with a product thrown in a plastic bag with a barcode and a printed invoice. You might not even remember where you bought it from. Our products are delicate and beautiful, and we want them to carry the mood and the philosophy of our company. Packaging, personal touches such as handwritten notes or thank-you cards, and customer service play a tremendous role in consumer satisfaction and the likelihood of FIVE AM customers coming back. We make sure every customer feels really special.
Q: Any advice for aspiring entrepreneurs?
A: Focus on one thing at a time. Make a plan, even if it involves building a spaceship, it doesn’t matter, as long as you have some sense of direction. Once you start moving, things will fall into place. You’ll change your plan over and over again, but you’ll get there. And don’t be scared of starting over.