Small Business Interview: Genavieve Shingle Jaffe, Genavieve Shingle Law
Meet Genavieve Shingle, the superwoman behind Genavieve Shingle Law. Genavieve transitioned from working as a corporate lawyer to running her own law business after seeing an amazing opportunity to help protect female entrepreneurs from a legal perspective. In this interview she talks about earning six figures within the first 9 months of her business, having to file bankruptcy and making an even bigger comeback. She's sharing her success story so far, her lessons learnt and some invaluable advice to inspire all of us! Enjoy!
Please introduce yourself and tell us about your business. What is it called and what services / products do you offer?
Hi! I am Genavieve Shingle Jaffe a Sparkly Lawyer for entrepreneurs. I run a law practice where I offer legal templates, custom contracts, and trademark services as well as co-run an online legal course called Damsel goes bare™.
"People are going to buy from you because of who YOU are. There are always going to be a ton of people out there who do what you do but no one is going to do it like you. That is what will make you stand out"
Can you share a bit about how you choose this line of business? What transition did you make to owning your own business?
I was working as a corporate lawyer in NYC and wasn't happy. My wife has been an entrepreneur her whole life and as I met a bunch of the women in her community who were entrepreneurs, I saw an amazing market opportunity to serve them and help protect their businesses in an affordable and accessible way as legal is something a lot of smaller start-ups put off.
Do you have any special training?
Yes, I have a Law degree
What are some of your biggest accomplishments as a business owner?
My first 9 months in business, I earned six figures. However, I almost had to file bankruptcy for making some bad choices. I almost had to go back to a law firm but I gave myself one more big go and relaunched my previous legal course and earned $170K in revenue during that one launch. This saved my business!
How soon after you started did you start seeing profits? Or when do you project to begin earning a profit?
After a year and a half with my big launch. Since then, things have been going really well!
How did you decide how to price your services? How did you determine what your services were worth?
Trial and error! I knew what law firms charged and I wanted to be a lot less than that. So I started low and when that didn't feel good anymore, I started to raise my prices. However, I also implemented legal templates so that the cost was lower for people but it didn't require any of my time as they do not come with access to me.
What mistakes, if any, have you made with your business? What have some of your biggest challenges been? What did you learn from the experience and how did you bounce back?
I invested in way too much my first year - all the courses and programs and I didn't take time to implement. That was a huge mistake as I learned a ton of amazing content but didn't take the time to implement and THAT is key in growing and moving forward.
What do you consider the most important elements of running a successful business?
Authenticity and alignment. People are going to buy from you because of who YOU are. There are always going to be a ton of people out there who do what you do but no one is going to do it like you. That is what will make you stand out.
Do you have any start-up advice you can share with women reading this who would like to launch their own businesses?
It's not easy so you have to just keep going! Focus on the people that you are going to serve. How you are going to change their lives. Let that drive you. Trust me, it's worth it!
Do you have any advice on managing your small business finances?
Make sure you invest in legal - it is one of the best investments you can make because it is going to protect your income, brand and personal assets. Also, make sure you keep track of your income & expenses as this was my biggest downfall in the beginning!
How do you balance work and life owning a small business?
Actually, have come to a place where I don't work a lot. When there are things that need to get done, I am really good at sitting down, focusing and knocking it out. But self-care is very important to me and so I always make time for that. Also, I love what I do, so it doesn't really feel like work and that is a huge blessing!
Where do you see yourself in 5 years
A mom :) And as a result of that, I want my business to really run itself. I will always be involved but I want to make sure that I have enough passive materials, products and programs so I can spend a lot of time with my family.
Please share a fun fact about yourself
I was a nationally competitive gymnast for 15 years - that's where I get my awesome work ethic! You can see me in action here! - bit.ly/genaflip
Thank you so much for this awesome interview Genavieve!
You can learn more about Genavieve from her website at genavieveshingle.com