Today on the show we’re learning from the co-founder of Summersalt, Reshma Chatteram Chamberlin. Summersalt launched in 2017 after a serendipitous moment with her co-founder Lori, and what started as a swimwear company made from recycled materials has since moved into every area of a woman's wardrobe.
We’re talking through Reshma’s journey and the power a mission driven brand can have in a saturated market. How to successfully collaborate with brands as a way to drive significant customer acquisition and her core tips from raising $26m in venture dollars.
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1. Embrace the Bigger Picture in Your Pitch
One thing Reshma highlights is the importance of framing your pitch around the big picture rather than getting bogged down in nitty-gritty details. She reminds us that only about 2% of venture funding goes to women. With fewer women in decision-making seats and venture capital firms, pitching can be particularly challenging.
Instead of focusing on specifics, Reshma encourages entrepreneurs to spotlight their business's overall potential. When faced with preventative questions—those tricky queries that seem designed to trip you up—she suggests responding with a broad, growth-focused answer. Persistence is key, even if you encounter setbacks. Remember, each challenge can help pave the way for the next generation of female entrepreneurs. By keeping your eyes on the prize and focusing on your business’s potential, you can truly stand out in a crowded space.
2. The Power of Collaboration
Reshma's journey with Summersalt was not just about building a great product; it was also about fostering powerful collaborations. This brand didn’t just stop at creating stylish swimwear. They secured incredible partnerships with brands like The Home Edit and Rifle Paper Co. One memorable collaboration even raked in a jaw-dropping $100 million in revenue within just 24 hours!
So, how did they do it? Reshma emphasizes the importance of meeting the consumer where they are—emotionally, digitally, and physically. This approach not only speaks to their audience but also reflects their customer base's needs and desires. Collaborations are a fantastic way to tap into new audiences and bring fresh perspectives. Don’t be afraid to reach out, even if it means sliding into DMs or creating fun TikToks about potential partners. Be strategic but also casual; sometimes, those informal connections can lead to something extraordinary.
3. Lean Into Organic Growth
Reshma’s advice on growth is refreshingly straightforward. She believes that initial success often comes from organic engagement, which can then fuel further marketing efforts. Summersalt’s story garnered plenty of press attention right from the start, primarily because they were shaking things up in the industry.
In a world that has become increasingly digital, it’s crucial to be authentic and relatable. This is especially true in the post-COVID landscape, where consumers are drawn to simpler, yet beautiful experiences. Reshma advises that both product and marketing should be reflections of your audience—thoughtful, genuine, and sometimes a bit quirky.
Final Thoughts
Reshma Chattaram Chamberlin’s journey with Summersalt is a powerful reminder that the entrepreneurial path is anything but easy. However, with persistence, a focus on the bigger picture, and the courage to collaborate, you can make waves in your industry. So, keep these learnings in your back pocket as you embark on your own entrepreneurial adventures, and remember: the grass is always greener where you water it!
