Brick-and-mortar space brought ‘online experiences to life’: Tiny Tassel owner

The Tiny Tassel Founder Mimi Striplin joins Yahoo Finance Live to share e-commerce advice for small business owners.

Video transcript

[AUDIO LOGO]

[MUSIC PLAYING]

DAVE BRIGGS: Estimates suggest nearly 220 million Americans will shop online in 2023, representing more than 20% of retail sales worldwide. And no, it's not all on Amazon. Our next guest, Mimi Striplin, is the founder of the Tiny Tassel, a jewelry, clothing, and accessory store in Charleston, South Carolina. What a wonderful town it is. Nice to see you, Mimi. You've seen your business--

MIMI STRIPLIN: Thanks.

DAVE BRIGGS: --skyrocket recently since going digital. Tell us how it worked for you.

MIMI STRIPLIN: Yes, I started online back in 2015 in my apartment kitchen, making tassel jewelry. And we have grown and evolved this business in so many ways to now offer a selection of clothing designed by my mom, more styles that we're able to scale and keep up with our customers' demand. And it's been really cool to use social media platforms like Instagram Shop and live selling to reach our customers.

SEANA SMITH: Yeah, Mimi, when you try to quantify, I guess, the impact that social media has had on your business, why do you-- what do you attribute that success to? How have you been so successful on social media? And some tips that you can offer some other small businesses out there, in terms of how they can grow their presence?

MIMI STRIPLIN: First and foremost, we show up consistently on social media, even if we have a lower sales day, or really, really sales-- high sales weekend. Our customers are expecting us to show up there on Instagram for our live shopping events. Typically, every Sunday afternoon, we're launching new products, sharing free stock, sharing my favorite things in the shop.

And one of my biggest tips that I give other small businesses is just try it. Get out there, let your customers know. It's such a fun way to interact, whether you have a brick and mortar presence like we do, or if you're just online. It's a great way to connect with them live and be able to reach them and convert customers to actually purchase from your site.

DAVE BRIGGS: And other platforms have helped you along the way-- Shopify, PayPal. Talk about how those have helped grown your footprint and how others might be able to use them.

MIMI STRIPLIN: We have been using Shopify for years now, and it is such a low entry, low barrier, low risk platform for us, where any small business can get on, set up their website, not have to pay a large sum of money to get it up and running. And it's allowed us to scale using different apps and programs that integrate with Shopify. We've been able to track our inventory to sell online worldwide, and of course, to sell on these social media platforms by using Shopify.

And PayPal just adds an extra layer of convenience for us and for our customers. They're able to check out seamlessly, use PayPal, and we know that these checkouts are safe. And they're quick and easy.

SEANA SMITH: So, Mimi, in addition to the e-commerce business, you mentioned you have a physical store in Charleston. Talk to us just about the importance of a storefront and whether or not you have plans to expand your brick and mortar print.

MIMI STRIPLIN: Our storefront is so special. It is such a happy and joyful space here in downtown Charleston. And it has served as a way for us to bring our online experience to life. And so many of our customers visit Charleston. It's such a destination city. And they get to walk in and really experience our shop, our products, our customer service in real life.

And it has been so special for us to welcome customers in from all over the world to share our favorite styles, show them clothing in person, have them try it on, so then they can leave and be the biggest fans of the Tiny Tassel, go back to their town, or let it be here in Charleston, tell all of their friends and family members about this amazing small business that they get to shop.

DAVE BRIGGS: Mimi, millions of businesses around the country just like yours, they open up the doors. They have a cute store and clothing and people want. But they don't know how to get the word out there. Just give those people step one in growing your business from that single store brick and mortar.

MIMI STRIPLIN: Step one would be to just shout it from the rooftops who you are. Don't be afraid to tell others about your business. Be really excited about it because the energy that you have about your store and especially your storefront will create such a buzz around it. And others will just feel like they have to get there. They have to come in and support your business.

And of course, rely on your community. Ask others to share. Ask others to pledge to coming in and shopping and buying just one Christmas gift from your storefront. And just by doing that, connecting with your customers and followers in that way, can make such a huge impact on business.

SEANA SMITH: Well, other small business owners should be listening to your advice. You have over $1,000,000 in revenue this year, consistently growing over the past couple of years. Mimi Striplin, great to have you, founder of the Tiny Tassle. Thanks so much for joining.