Damola Adebayo, Spruced Tree Decor & Design
Meet Damola Adebayo in this special entrepreneurship feature from the Be Helpful Podcast. Read below to learn about her journey in a special Q&A.
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Entrepreneurial Stories: Damola Adebayo and the Spruced Tree Story
In the world of entrepreneurship, every journey is unique, each marked by personal triumphs, failures, innovations, and resilience. The power of these entrepreneurial stories lies in their ability to inspire, guide, and offer valuable insights to aspiring entrepreneurs. Today, we delve into the journey of Damola Adebayo, the founder of Spruced Tree Decor & Design. Her story is a testament to adaptability, positive thinking, and resilience, offering lessons that are bound to resonate with many of our readers.
The Genesis of Spruced Tree Decor & Design
At the heart of every entrepreneurial venture lies an idea. For Damola Adebayo, the idea was born from a desire for financial independence and a passion for Christmas tree decorating. She says, "I’ve always felt uneasy about being totally dependent on the income from my employer to sustain my livelihood."
Her first action was registering the business and getting set up as a legal S Corp with the help of an accountant. She also secured her website domains, locking down the name that came to her quickly. If she were to start all over again, she would do the same, highlighting the importance of securing a legal and online presence for any start-up.
Spruced Tree Decor & Design, a unique venture, specializes in selling Christmas tree decor and offering Christmas tree design services. Damola's initial business concept was simple - charge a fee for decorating trees during the holiday season. But as is often the case in entrepreneurship, the business model evolved over time.
Visit the Be Helpful Podcast Library to find Damola’s book recommendation along with suggestions from our community of entrepreneurs.
Embracing Challenges and Adapting
Entrepreneurship is a journey filled with challenges that test the tenacity and adaptability of an entrepreneur. For Damola, one such challenge was underestimating the time and financial resources required to source materials for custom designs. She openly shares, "My biggest failure so far was underestimating how much time and money it would take to source materials for custom designs."
This challenge, however, was not viewed as a setback. Damola faced it head-on, showcasing her adaptability and strategic thinking. She restructured her business model and shifted her focus towards creating designs and selling them as templates. She also considered manufacturing her own materials.
Lessons Learned and Advice for Aspiring Entrepreneurs
Damola's entrepreneurial journey has equipped her with valuable lessons which she readily shares with fellow entrepreneurs. She emphasizes the importance of conducting thorough market research and having a solid plan before launching a business. Her advice to aspiring entrepreneurs is, "Establish your circle of trusted mentors, advisors, professionals, etc. that can help you think differently about your business and develop ideas that will propel you forward."
Damola's story is a testament to the power of a positive outlook and resilience in the face of challenges. She firmly believes in the value of optimism and the ability to bounce back from setbacks. In her own words, "When I feel backed into corners and it looks like there’s no way out, there’s an energy that I get from getting super scrappy and thinking outside of the box in order to find—or create—a way of escape in that situation."
The Future of Spruced Tree Decor & Design
Looking ahead, Damola anticipates that shifting from a service business to a product-based model will help Spruced Tree grow. She believes that this strategy will allow for greater scalability and sustainability in the long term.
Conclusion: The Power of Adaptability and Positive Thinking
Damola Adebayo's entrepreneurial story is an inspirational tale of resilience, adaptability, and positive thinking. It illustrates how challenges can be transformed into opportunities, and how setbacks can pave the way for growth and success.
Her journey is a powerful reminder that entrepreneurship is not just about having a great idea, but also about the willingness to evolve, adapt, and learn from experiences. As Damola says, "Spruced Tree has gone through many iterations over its lifetime – as you go, sometimes you realize that the great idea you had isn’t always workable, or scalable, or profitable, or fill in the blank. Being flexible and strategically nimble has hands down been the muscle I’ve exercised the most along this journey."
Through her entrepreneurial journey, Damola Adebayo is not just building a successful business, but also inspiring and guiding aspiring entrepreneurs. Her story is a valuable contribution to our series of entrepreneurial stories, reinforcing the message that perseverance, adaptability, and a positive mindset are key to entrepreneurial success.
In the world of entrepreneurship, stories like Damola's serve as a beacon of light, guiding aspiring entrepreneurs along their journey. Whether you're an early-stage entrepreneur or merely contemplating a start-up, understanding and learning from these entrepreneurial stories can provide valuable insights and motivation. We hope Damola's journey inspires you to embark on your entrepreneurial journey with resilience, adaptability, and a positive mindset.
Next Steps
If you're interested in hearing more from Damola herself, see the Q&A transcript below. You'll find her insights on everything from her first steps in business to how she approached risks and uncertainties. Don't miss this opportunity to learn from her experiences. And if you are looking for beautiful Christmas Tree Designs and want to work with Damola, send her an email.
Entrepreneur Story: Q&A with Damola Adebayo
Spruced Tree Decor & Design | Interior Decorating | Chicago, IL
What did you want to be when you were growing up?
Damola: A medical doctor. Specifically, a thoracic surgeon. At some point, I realized that school wasn't really the cat's meow for me, so along the way I pivoted to a career in research and biotech.
What inspired you to start your business, and how did you develop your initial idea into a viable business concept?
Damola: In my profession, restructuring and layoffs happen routinely. I’ve always felt uneasy about being totally dependent on the income from my employer to sustain my livelihood. Between 2018 and 2019, the U.S. government shut down twice, furloughing hundreds of thousands of employees. During that time, I was reading a book called “Side Hustle” by Chris Guillebeau. Combining what was happening with the government with what happened regularly within my industry, that book really lit the fire that I need to develop a side hustle in order to diversify the risk of having only one income. A second book by Guillebeau called “100 Side Hustles” helped make the idea of coming up with a side hustle more accessible for me – I just need to think about the things I do that people regularly ask me for or get excited about. Enter: Christmas tree decorating. My initial thought was to charge a fee to decorate trees over the holiday season, and the concept has evolved from there.
What were some of the biggest risks or uncertainties you faced when starting your business, and how did you manage them?
Damola: Pricing my service. Commercially available ornaments can be quite expensive depending on the tree design. And depending on the client, the cost of ornaments plus the cost of service is more than they’re willing to spend. Because I was just starting and needed to get my work out there, I would discount the cost of my services to remain within the client’s budget. I quickly realized that I need to adopt a reseller strategy for sourcing materials, or consider manufacturing my own ornaments.
What was your first action? If you were starting all over again, would that still be your first action? If not, what would it be?
Damola: Registering the business and getting set up as a legal S Corp with the help of an accountant. And securing my website domains. The name came to me quickly, and I wanted to lock it down! If I were starting over again, I would do the same.
How did you get your first customer or sale?
Damola: Fantastic friends and word of mouth. I mentioned my idea to my personal trainer and his gym became my first client. My second client was an eyelash studio because a good friend of mine asked every business she walked into if they were putting up a tree and wanted a professional to design one for them.
Tell us about a major business milestone or accomplishment that your proud to share.
Damola: My business is still in its infancy, so I’m still working to transition the business from concept to revenue-generating product. To this point, the thing I’m most proud of is pushing past the sometimes paralyzing fear of failure that crops up all along the journey!
What is one strategy that has helped you grow your business? Please explain how.
Damola: One strategy I anticipate will help Spruced Tree grow is shifting away from being a service business and focusing on being a product business in the short term. The biggest challenge I’ve had since starting my business is that me designing trees, sourcing and purchasing materials, and doing the decorating by myself is not sustainable. And to be honest, trying to make it sustainable was sucking the joy out of it for me. Offering my designs as a product allows for greater scalability.
What were some of the biggest mistakes or missteps you made early on in your entrepreneurial journey, and what did you learn from those experiences?
Damola: I rushed into “doing” without having a solid plan on pricing and sourcing my materials. I quickly learned that long-lasting, quality materials—which is foundational to my brand—are quite expensive. So, without any reseller agreements in place, I was paying the same retail cost for materials, which would then transfer to the client, and to add the cost of service on top of that was out of scope for the clients I had at the time (small businesses). What I learned from that experience is to do more market and competitive research up front before launch. It would have provided a better understanding of who to target for this kind of service and how others who are already doing it package their cost of materials and service in their fee structure.
Can you describe a particular challenge, obstacle, or failure you faced while building your business, and how you overcame it?
Damola: I would say my biggest failure so far was underestimating how much time and money it would take to source materials for custom designs. Finding the right pieces for the tree designs took a lot of time—often more time than I could manage effectively while staying on top of life and my primary job. I overcame it by restructuring my business model. Now, instead of sourcing the materials and providing the service, I’m focused on building designs and selling them as templates. I’m also looking into manufacturing my own materials, which was not initially an area of interest for me.
How do you stay focused and motivated when faced with setbacks or unexpected challenges, and what strategies do you use to maintain a positive outlook?
Damola: It’s encouraging to know that others are somehow doing it and getting it done with less than what I have, be that time, money, or other support resources. I have an idea that I believe in, and I believe in the social impact my business could provide. When I feel backed into corners and it looks like there’s no way out, there’s an energy that I get from getting super scrappy and thinking outside of the box in order to find—or create—a way of escape in that situation. That along with an abiding belief that there can be some good in every bad, even if you have to dig deep to find it. So maybe it’s a little hope and positive thinking and a little weird internal wiring, but that’s how I stay focused and encouraged with disappointments and setbacks.
Looking back on your entrepreneurial journey, what advice would you give to others who are just starting out in the business world, and why?
Damola: Establish your circle of trusted mentors, advisors, professionals, etc. that can help you think differently about your business and develop ideas that will propel you forward. You need diverse perspective to grow and you can’t do it alone. So, I think a strong organizational and also emotional support system is key.
How do you approach skills gaps and things that aren't your strengths?
Damola: Adaptability. Spruced Tree has gone through many iterations over its lifetime – as you go, sometimes you realize that the great idea you had isn’t always workable, or scalable, or profitable, or fill in the blank. Being flexible and strategically nimble has hands down been the muscle I’ve exercised the most along this journey. I approach skills gaps (1) by learning… YouTube is a whole university, and (2) by outsourcing to or seeking counsel from people that I trust who excel in the areas where I’m weak.
What is one habit of yours that makes you more productive as an entrepreneur?
Damola: Honestly, I think I’m still figuring that out. As life has unfolded over the last few years, I’ve not been as consistent in giving the same energy to building my side hustle as I have to my school or my career… despite having a deep desire to one day see my side hustle become the main hustle. So as drive toward aligning my actions with my vision for my business, I would say inconsistency around how I dedicate time to building my hustle is the biggest thing stifling my productivity.
What misconceptions did you have about entrepreneurship before becoming an entrepreneur?
Damola: Maybe not a misconception, but just the realization of how hard it really to be an entrepreneur. It’s like how people describe having a baby. Mentally, you know that and you agree. But you really don’t know until you live it… and it’s so much more than you could have anticipated.
What advice would you give your younger self or someone just starting out in a similar business?
Damola: Establish your circle of trusted mentors, advisors, professionals, etc. that can help you think differently about your business and develop ideas that will propel you forward.
What is the book that you recommend our community should read and why?
Damola: Specifically for the side hustlers, read “Side Hustle” by Chris Guillebeau if you’re unsure how/where to start. If you’re needing some idea inspiration, consider “100 Side Hustles”. A third book I’d maybe recommend is “Millionaire Fast Lane” by MJ DeMarco. I didn’t love the tone of this book, but I did get a lot of great nuggets out of the book that have helped me think through forming my business and operationalizing my business strategy. So that one’s a “take the meat and spit out the bones” type of recommendation.