09 January 2023 , 11:24
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An inspirational entrepreneur has shared how she made six figures after setting up a business with just £10. Laura Schmidt, 27, says she has struggled with her mental health since childhood but took a turn for the worse when the pandemic hit.
She'd been hoping to start a PhD in psychology but found her mental health was worsening, and she left her part-time job at Domino's Pizza for the same reason.
Unemployed, she decided to start her own business with a tenner. Flash forward to 2023, sales are booming and the company is now worth a whopping six figures, the Daily Star reports.
Laura founded her business Lovendu (Laura Schmidt)
Which is now worth six figures (Laura Schmidt)Talking to the publication about her success, the founder explained she created Lovendu, which sells journals and planners designed with wellbeing and mental health in mind, after journaling helped her.
"I have always struggled with my mental health since childhood," she said. "So when the pandemic hit, like a many other people, I was really struggling. I was in such a dark place that I decided to start journaling, hoping it would help in any sort of way."-
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She continued: "Over the weeks, I found that I was sleeping better (I had pretty bad insomnia before), was more productive and just felt generally better. I wanted to share this with the world as few people journal for their wellbeing."
Talking about getting her business going, she added: "I started with £10 for the business, beginning things on Etsy where I printed on demand. I started with two journals and the £10 was to order myself a copy each for me to take photos and use for TikToks.
"It took a week or two before I had my first sale and ever since then, it hasn't stopped! I used the money from the first few sales to pay for more stock and packaging."
Talking of the business' humble beginnings, she added: "I was meant to be starting my PhD in psychology," she explained. "But I got cold feet and my mental health was worsening. I tried working part-time at Dominos Pizza whilst I figured things out but my mental health stopped me from working.
"So when I started the business I was actually unemployed."
Laura says that TikTok has been a big help in boosting her business, as it takes "just takes one video to go viral to get crazy sales". The founder also draws inspiration from her customers, who clearly know what they want.
"They are the ones to suggest an 'Overthinking Journal' – and it sold out within two days of the launch," Laura revealed. "It is now one of my bestsellers."
Sharing advice for anyone hoping to start their own business, Laura said entrepreneurs should stop caring about what other people think. "That's something that held me back for so long and I know I would have regretted it so much if I let the opinions of others hold me back from my dreams," she said.
Laura also recommends not comparing yourself to businesses that claim to achieve six figures in two minutes. "It's amazing and so inspirational, but that's what it should remain as," she said. "Give yourself a realistic and fair timeline."