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Entrepreneurs Never Give Up – BbB
Posted on October 28th, 2009 35 comments
When faced with failure, a true entrepreneur will pick themselves up and find a new passion to drive their life.
One such entrepreneur is Sigrid Olsen. Sigrid began her career as an artist making and selling hand-printed textiles near her home in Rockport Massachusetts. Her prints were inspired by nature and featured leaves, fish, shells and flowers. What really made her wearable art appealing were her unique color combinations. Her soothing blues and greens reflected water with a beachy feel. Her cheerful combinations of pink and orange reminded one of a beautiful sunset. Sigrid’s line sold well and by the late 80’s her clothing line could be found in hundreds of independently owned stores all across the country.Even though her business was doing well, Sigrid was offered a deal she thought she couldn’t refuse by Liz Claiborne in 1999. Instead of buying Sigrid’s company outright, Liz
tempted Sigrid with a couple million dollars, a percentage of ownership and the title of creative director. The goal was to grow the Sigrid Olsen name brand to include more than 50 Sigrid Olsen stores across the country with sales of over 50 million dollars. That goal was achieved, but less than 10 years later, in 2008; Claiborne closed all 54 stores, left Sigrid unemployed, and remained in control of her trademark name. Still worse, Sigrid had signed a non-compete agreement which prevents her from designing another clothing line until 2010 and she will never be able to use her own name on any apparel product. Liz Claiborne instead, has the right to use Sigrid’s name on any thing she wishes; even if it’s dog poop. With a fighting entrepreneurial spirit Sigrid’s experience, along with a bout with breast cancer, “ made me want to make sure that the years I have left I’m doing what makes me happy and that I don’t have to spend a lot of time doing what other people tell me to do.” So, Sigrid is happily beginning again with a small art studio, retail store and website where she is quickly growing a following of both new and old customers who love her unique style. You can read more about Sigrid at this link: and view a clip about her here [nice video!}.
Her path hasn’t been an easy one. What could Sigrid have done differently? Beth Carroll [aka, BbB] My profuse thanks again to Beth. Hank
35 responses to “Entrepreneurs Never Give Up – BbB”
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Zacheriah Ruggles October 28th, 2009 at 05:59
This lady has had some bad luck with her business in the fact that she lost it all and was not allowed to create another. She still has the drive to keep going and to open something else, a true entrepreneur.
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Although she had stores around the country, I find it hard to believe that the courts would find the non-compete agreement reasonable – 2 years covering the whole nation? Surely that is in violation of interstate commerce and free trade….
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Allison Weilbaker October 28th, 2009 at 08:38
It’s really sad that she can’t even use her own name anymore, but it sounds like she’s a trooper so things may begin to look up for her. I love her persistance and optimism
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DELL GRIFFITH October 28th, 2009 at 08:52
An inspirational story of someone who refused to give up in spite of the obstacles that she faced.
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It’s usually easy to look in hindsight and say what someone should’ve done. I believe Marc Andreessen at Startup School ’08 said that in the “fog of war” you make the best decisions you can given information you have.
The only transgression should could have made was not scheming/plotting/planning about going back on her own once she joined up with Claiborne. When one with an entrepreneurial spirit joins a company, he/she should have an “exit strategy.”
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Greg Forney October 28th, 2009 at 09:38
Wow that really impressive that she still has the drive to keep trying.
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Marisa Strupp October 28th, 2009 at 09:54
The drive of this entrepreneur is really impressive. I like how successful she got, on her own, that Liz Claiborne wanted a slice of her success. Her story assures any entrepreneur that achievment is possible.
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Emily Wetterich October 28th, 2009 at 10:07
I don’t know what to think of this Liz Claiborne person… and I can’t beleive Sigrid Olsen would just sign her name away like that. I agree with Nwokedi Idika, she should have had an exit strategy. I do like how she hasn’t given up, though.
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Erica Lied October 28th, 2009 at 10:24
Sigrid Olsen is truly inspiring. Her story just shows how nasty the business world can get sometimes, and how corporate America rules. I think that in spite of it all it is great that she had kept going.
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Jake Vanhooser October 28th, 2009 at 10:40
That is terrible. I hate when large corporations take advantage of individuals like that. This is a really good lesson for new entrepreneurs.
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Josh Dennison October 28th, 2009 at 11:01
there are many of these large companies skrewing people over whether its intentional or not. Liz originally created a great deal of benefits for her but then due to lack of success they closed the stores (im assuming thats why). Thats the catch 22, if a deal goes sour, who will come out on top. The analogy my dad uses is to think of business, especially business deals with other companies, as a game of chess, what may look like your best move may hurt you later on. (ironically he is no good at chess but successful in business)
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Christina Jacobs October 28th, 2009 at 11:06
Wow this is a smart lady. I checked out her website. I also like her style. I hope she is doing whta makes her happy day in and day out now!
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Brent McClean October 28th, 2009 at 11:28
Never give up, even when the big stick is watching. Bad luck can sometimes bring an even greater opportunity.
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Karlis Jansons October 28th, 2009 at 13:52
Good story. Sad that the company failed, but she got a good amount of money from it and will soon be able to compete again.
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Micajah Green October 28th, 2009 at 15:51
Sigrid Olsen is a fighter. Her story is a great example of how to get your business up and running, and also teaches what not to do when signing with a larger corporation. She is a very strong person and determined to start over. I hope she is successful and continues to move forward. She is truly and inspiration to young entrepreneurs.
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Katelyne Moody October 28th, 2009 at 15:57
WOW! That was pretty slimy of Liz Claiborne. But thats the nature of the business. However Singrid is a trooper and since her clothes did so well last time, she will do just as good this second time around.
–katelyne–
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Lyndsey S. October 28th, 2009 at 16:38
Sigrid is inspiring! Just for her, I’ll never even look at a Liz Claiborne product as long as I live!
What is her favorite quote supposed to mean though? “Amateurs built the ark. Professionals built the Titanic”. Amateurs do it better because they don’t get as cocky? hahaha!
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Chris Perry October 28th, 2009 at 18:34
I agree with Chris Miller but her problem is also that she doesnt have the money to fight that big of a corporation.
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Never give up, this is the personality that not only extreprenuers need. If you want to be success, no matter what you are doing, you should never give up when encounter difficulties.
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Jenna York October 28th, 2009 at 18:54
Wow this lady has had some bad luck but her perserverance I hope will pay off big time. This will make her stronger and help improve her as a person in the long run.
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Impossible is nothing when someone never gives up. Sigrid was unlucky that she lost her business, but she is lucky because she has the quality of tenacity and persistence. She is a real entrepreneur.
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Olivia Freeman October 28th, 2009 at 19:16
Talk about true determination! Her story shows how appealing a few million dollars and a known name brand may sound too good to be true. The fact that she has the perseverance to pick the pieces up off the ground even when she was dropped from the company show a drive and a passion to not only to continue but to continue to do what makes her happy. If everyone could find their own drive in life that truly makes them tick, this world would be a wonderful place.
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Theresa Reinhart October 28th, 2009 at 20:13
Wow. I feel for her so much. That is crazy how some people seem to attract bad luck like a magnet. I am a firm believer, however, in karma and I hope that she will gain all the success that she deserves! And I am officially boycotting Liz Claibourne from now on!
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James Kohler October 28th, 2009 at 20:17
She should make a mockery of Liz Claibourne. Anti-Liz shirts, etc.
Top that with a nice print, and another successful product is born. -
Leah Keough October 28th, 2009 at 20:31
That characteristic to keep moving is very important when it comes to creating and managing your business. This is an amazing story of strength through whatever happens.
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Eugene October 28th, 2009 at 21:35
I guess one other lesson that we can take from this is to try to see ahead into the future, don’t make any decisions that might jeopardize you in future. a deal might look good now ,but how is it going to look in the future?…..It sucks that she cant use her own name.
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Clement Mak October 28th, 2009 at 21:45
Never give up. Once a person gives up, no one can help him anymore.
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Mark Minissale October 29th, 2009 at 00:25
Like what most people said don’t give up, never put your head down there are 2nd chances out there
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Michael Mullen October 29th, 2009 at 10:59
A very inspirational story as well as being a good lesson for future entrepreneurs.
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Rohan Thakkar October 29th, 2009 at 11:20
Shows when you have a passion for something and if you want to achieve a goal you will never give up.
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Marisa Nakajima October 29th, 2009 at 12:02
Awww…She was really delt a rough hand in the marketing industry, but I’m glad she pulled through. And very sucessfully at that. I love Liz Claborne and Segrid Olsen products! I have worked in an Optometric office, and the Liz Claborne fashion eyewear line always has new and interesting designs unlike normal boring metal frames.
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Sanford C October 29th, 2009 at 12:04
she should have taken entr200!
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sreeharsha October 30th, 2009 at 06:16
This is one of those examples where you can learn a lesson that even though your company or for that matter any thing fails you don’t need to worry about that, you could instead start another company by identifying and correcting the mistakes that we did earlier. Even though she had an obstacle, she still is coming again with company.So that’s interesting.!!!
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Sung jae October 30th, 2009 at 15:28
Sigred Olson is a true entrepreneur. I hope she can be successful in the future with her small art studio. I don’t understand why Sigrid signed non compete agreement and offered the deal to Liz caliborne that made her not be in total control of her company..
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Amber Illig November 2nd, 2009 at 05:00
Wow, I really feel bad for Sigrid. The situation seems a bit unethical although legal. However, Sigrid Olsen could have been more prepared for this. No matter how trustworthy you think a company or individual is, or how well you think you’re doing, or how much you think you are needed, you should always get everything you may need to fall back on IN WRITING. You should also read everything you sign and think twice when signing things such as her non-compete. Think about what would happen in the worst case scenario if you signed the paper.
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