Interview with Lucy Dang, Entrepreneur

Did you have a business plan when you established your business? How did you go about starting your business?

I started my business in the spring of 2011. At that time I had a loose business outline but by the end of 2011, with the help of my business partner Blanca Renteria, we then had an official business plan. The idea to own my own company was always in the back of my mind since childhood. Implementing it took many years and preparation.

Do you think a business plan is necessary when starting a business in your industry? What made you successful (unique)?

I do think people should research what they want to get themselves into before they start a business. Prior to launching the label, I had goals and certain landmarks that I wanted the company to achieve in order to be successful.

Please, offer three pieces of advice on how to become a successful arts entrepreneur? 

1) Always know who your market is. Clearly define them as this will determine the DNA that is your brand.

2) Find a business partner or group of people that will help carry the business and offer support to you whether it is financial or emotional.

3) Keep at it. Most successful individuals spend years working at their craft. It takes a minimum of 10,000 hours or the equivalent of a decade to achieve and reach goals.

Interview by Chieh-Ya Hsu, student studying Developing an Arts Venture Plan, Arts Entrepreneurship at Meadows School of the Arts, SMU.

Print Friendly, PDF & Email
This entry was posted in Entrepreneur Interviews and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *