Money Advice for Entrepreneurs from Poshmark Founder, Tracy Sun

/

If you consider yourself a fashionista, then you are probably well aware of the company, Poshmark. Poshmark is a digital marketplace where you can buy and sell new or used clothing, shoes and accessories. One woman made $15,000 by cleaning out her closet and posting the items on the site. That makes for a sweeeet side hustle.

According to a recent article quoting Poshmark’s press release, the site carries over 75 million items and 5,000 brands and 1 in 30 women in America sell on Poshmark. Since it’s launch in 2011, the company has grown to over 4 million sellers.

I had the great fortune to be able to meet and interview one of the founders, Tracy Sun, at the Hustle 2X event in San Francisco. Hustle is an incredible media and event company for folks like you and me - ambitious, go-getters seeking inspiration and always striving for more.

The Hustle on Money & Mimosas.jpg

The 2X event is a traveling show in 7 cities where Hustle brings together incredible women to share their inspirational stories of success.  The Hustle team was kind enough to offer an opportunity to me and Socialite Renee, to meet Tracy Sun and ask her about her journey to success.

Poshmark co-founder on Money & Mimosas


Here are some of the insights that she shared:

  1. Many of the Money & Mimosas readers would describe themselves as multi-passionate. As a woman who transitioned from science to fashion to tech, what is your advice to our community on creating a career when you have multiple passions and skills? For me, it was important to consciously give myself the freedom to explore. Once I gave myself that permission, I realized that I could bring a different perspective to fields because of my diverse background. It became my super power and unique skill.

  2. Money is always a big topic for business owners. What is your money advice for other entrepreneurs? Learn that it ebbs and flows. The first part of your journey as an entrepreneur is to survive and MAKE money. Once you start earning, then you get into the saving mode which is really really important. Once you have saved a comfortable cushion, then it’s time to focus on growing your wealth. That’s the place where I’m at now and it took a long time to get here.

  3. Do you have a mantra for money? What is your guiding philosophy for building personal wealth? Always be willing to learn more about it and how money works.

  4. What is your #1 advice for a woman who wants to be financially independent? Discover your superpower. We all have one and it will be your #1 tool for success.

Wow, such great insights! To build on her money advice for entrepreneurs, one of my pieces of money advice is to learn how to make money in every possible way you can. Especially in the beginning stages of your business. It is all about THE HUSTLE in the beginning. One easy way to do this is to use Radius Bank’s Hybrid Checking account.


It’s one of the only checking accounts that pays you interest on your balance. Most have zero percent interest which means you actually lose money on balance because of inflation. Click here to learn more about the Hybrid Checking Account.

For more money tips, join the Money & Mimosas Insider list.

This post is sponsored by Radius Bank.