Nicole Farb of Darby Smart made the switch from Investment banking to the DIY Space. She talks about the frightening leap from a established, well-run company to starting a business based off of her passion and limited resources. Her background in investment banking made the transition to the startup world easier, but by no means a walk in the park.
Nicole got her customer research by planting herself outside of Michaels, the arts and crafts store. She would talk to customers outside of the store in the parking lot and ask them questions about their purchases. Nicole went from stalking the customers outside of Michael’s to now having a partnership with the store.
The DIY business is estimated to be worth 30 billion in the U.S. She discusses the importance of finding a technical co-founder and how that was a huge milestone in her business. Nicole explains the learning curve when starting a business and learning how to delegate responsibilities.