Graduation Gift Inspires a Business

Written by Shala Hainer Wednesday, December 21 2011

Alex Suarez-Mondshein, founder, Words to Live By
Alex Suarez-Mondshein has the solution for your milestone gift dilemma: a Words to Live By book. As CEO and founder of Words to Live By, 24-year-old Suarez-Mondshein developed the idea for her company after receiving a thoughtful gift from her mother. The night of her college graduation, Suarez-Mondshein's mother presented her with a binder full of words of wisdom from friends and family. Her mother had asked the people the same two questions, and asked them to share their thoughts on those questions and words of advice for Suarez-Mondshein, who was so moved that she decided to find a way to share with others the precious gift written words can provide.

Her employees call the contacts of your choice and ask the two questions of your choice; they offer suggested questions to help you along. They recommend the one-of-a-kind books for milestone events including weddings and graduations. Each archival-quality book is custom made.

A graduate of the University of Miami with a degree in sociology, Suarez-Mondshein stays busy away from work. She's a main-stage cast member at Just the Funny Theatre, Miami’s home for improvisational and sketch comedy, where she rehearses and performs weekly. She loves hip-hop music, saying, “I am still so excited because I just went to Jay Z concert and he touched my hand!” She is a leadership coach with Strong Women Strong Girls, where she serves as a mentor. She describes herself as a Zumba fanatic and enjoys dancing and spending time outdoors.

Womenetics: How did you translate your idea, inspired by your mom's gift for your college graduation, into action by creating Words to Live By?
Alex Suarez-Mondshein: When my mom presented her incredible gift to me on the night of my graduation, I knew that is was too special to keep to myself. I have always been an entrepreneur at heart. As a girl, I had businesses ranging from clay jewelry to lemonade to “customized kitchenware.” In high school, I created an after-school tutoring program for neighborhood children. In college I founded Miami Ballroom, the University of Miami’s official Latin and ballroom dance club, which exists to this day. But for some reason, I never considered entrepreneurship as a career path (I have a liberal arts degree in sociology.).

My first job out of college was with the United Way, but after hours I started to develop a very rudimentary version of the books, using supplies purchased at craft stores, a logo I designed myself, and a website built by a friend who was studying computer science. I sold one book – to a local news anchor and celebrated member of the South Florida community. Her raving endorsement gave me the confidence I needed to continue. It wasn’t until several months later that I started meeting with my mentor at the time, who helped guide me to do more detailed market research, redesign the product and branding for the luxury market, create a more robust website, acquire trademarks and copyrights, and attend the National Stationery Show.

Womenetics: What process did you go through to come up with the standard milestone occasions and suggested questions for people who are looking for a special gift?
Suarez-Mondshein: Identifying the milestone occasions offered in our classic line was easy – but the questions required much more thought and research. I used the questions asked of my family and friends in my own graduation book as a guide and also consulted how-to books and articles for interviewing family members and writing one’s own memoir. Today, the questions are copyrighted and exclusive to Words to Live By.

Womenetics: What challenges have you faced as a young entrepreneur – 24 years old and running your own business?
Suarez-Mondshein: I think all startup CEOs would probably say that they don’t have enough money or resources to do all the things they wish they could, so I won’t bore your readers with that particular challenge.

As a young entrepreneur with a limited business education, I usually don’t have all the answers. What corporate structure is best for my company? How do I get my product in stores? How do I determine pricing and create financial projections? I have learned that I must always be surrounded by people with much more experience than I, who can provide insight and guidance on all of these topics. The best place to start is always within your own circle, but apart from this, there are so many incredible resources dedicated to helping women entrepreneurs to connect us with the right people.

Womenetics: Do you ever have a problem getting a suggested family member or friend to contribute memories or thoughts to someone's book? If so, how do you overcome those objections?
Suarez-Mondshein: This has happened only a handful of times, and it is almost exclusively older family members who feel uncomfortable about sharing their intimate feelings with a stranger. In these cases, we make personal phone calls to explain what we do. More importantly, once they realize the importance of sharing their wisdom and life experiences in a tangible way that can be passed down through the generations, they almost always open up.

Womenetics: Are you hoping to expand your business into any digital or technology arenas, such as making DVDs, or are you planning to stick with hard-copy books?
Suarez-Mondshein: We are looking to develop digital books so that those customers who wish to share their Words to Live By book can do so easily online. Though the publishing industry as a whole is quickly becoming digitized, gifts for milestone occasions are not.

Womenetics: What marketing techniques have you found to be most successful with this rather unique product?
Suarez-Mondshein: Words to Live By is inherently viral because with every book, an average of 20 book contributors intimately interact with the brand. So, organic word of mouth is proving to be our most effective marketing tool. Though we do sell directly to customers online, we have found that retail partnerships are a critical part of the marketing mix. We are featured in stores, such as fine stationery and bridal stores, where customers are already shopping for milestone occasions several months in advance. We have launched the product in 10 stores in Miami, Atlanta, and Dallas.

Womenetics: Describe the process a buyer goes through when purchasing one of your books.
Suarez-Mondshein: Customers can either purchase directly online or in a store. Either way, the order process is as easy as saying, “I love you.” Simply complete an order form of a few questions including occasion, book style, contributor questions, and contributor contact information. We take care of the rest, contacting each contributor individually to collect his or her answers and publish the book.

Womenetics: How long does it take you and your staff to conduct interviews, compile the responses, and put together each book?
Suarez-Mondshein: Turnaround time from placing the order to receiving the book in the mail is four weeks.

Womenetics: How important is social media to your marketing process?
Suarez-Mondshein: We utilize Facebook and Twitter to provide followers with special news and content, but whether this will turn people into customers is yet to be seen.

Womenetics: Your business recently won third place and People's Pick in the Community Track of the Miami Herald Business Plan Challenge. How did that honor inspire your future plans for Words to Live By?
Suarez-Mondshein: The coverage we received as a result of this contest provided not only confidence to move forward, but also a tangible article that we now send to potential retailers and media outlets where we would like to be featured. Knowing that the panel of esteemed judges believed so much in what we were doing, especially when we were up against companies whose management teams had many more years of business experience, was a wonderful gift.

Womenetics: What advice would you share with other young ladies with good ideas who want to be entrepreneurs?
Suarez-Mondshein: Early on, there are a lot of things I would have done differently. But there are a lot of things I would have also done the same. One of them is knowing that I needed help.

Remember that when asking people for advice, they usually love to give it. You need people who can advise you on developing your product or service, branding, running numbers, legal matters, and sales. Take them out for coffee or lunch and pick their brain in their area of expertise, and then decide what works and what doesn’t for you and your company.

Also, don’t be afraid to spend money. When it comes to business, women statistically stray away from big financial risks and don’t like to carry debt for a long period of time. If you need capital to get started and are fortunate enough to be offered a loan (whether from family, a friend, or more traditional source) on good terms, take it. You have to spend money to make money.

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Based near Atlanta, Shala Hainer has been writing and copyediting since 1995. Beginning her career at newspapers such as the Marietta Daily Journal and the Atlanta Business Chronicle, she most recently wrote and edited articles for several nonprofit organizations before purchasing a flower shop in 2006. She earned a bachelor’s in communications from Jacksonville State University.