Draya Michele - at the top of game
‘Je ne sais quoi’ is a pleasant, indescribable quality that cannot be created; you either have it, or you don’t. As a savvy but witty business mogul, television personality, creator and innovator, Draya Michele has a certain je ne sais quoi about her and has become the buzz about town we simply can’t get enough of. The self-made millionaire has created an empire like no other. From her widely publicized role on VH1’s hit show Basketball Wives to the launch of her swimwear line Mint Swim, an upscale fashion brand, to her endless philanthropic efforts with Headbands of Hope and the Children's Hospital of Los Angeles. She has been volunteering her time at CHLA to play with the kids and pass out headbands. Headbands of Hope was founded in April 2012 and for every headband purchased, one is given to a girl/boy with cancer and $1 is donated to fund life-saving childhood cancer research. Draya has surpassed the limited stint of an ordinary reality star by effectively using her platform to create a lifestyle marked by success.
RAINE: You are a self-made millionaire. At what age did you make your first million and what was the golden ticket to your success? MICHELE: I made my first million at 29 years old. The golden ticket to my success was the way in which I used social media to post my collection online for people to see.RAINE: As a millionaire entrepreneur, what are the top three lessons you have learned about managing your money?MICHELE: In the past, I used to be an impulse shopper, but now I like to take my time to shop around for the best deals. I have also learned not to loan out money with the expectation that I will get it back, because 90% of the time you don’t get it back. Lastly, I feel like it is so important to save for your retirement.RAINE: When it comes to surrounding yourself with people that will help you grow your business and money; what team members should every entrepreneur have?MICHELE: You have to surround yourself with people that are supportive and opinionated so that you aren’t wasting time and money putting out the wrong product. Also, it helps to have a great accountant and business manager to help advise you on your business.RAINE: What was an event that seemed like a major obstacle at the time that you were able to overcome? MICHELE: As a fashion industry outsider, people found it difficult to take me seriously. After two years of persevering as a designer, people started to take notice.RAINE: What are three things that you do not leave home without when traveling?MICHELE:
- Chap stick
- Eye Mask
- IPhone charger
RAINE: What inspires you most as an entrepreneur? MICHELE: I am most inspired by the finance and business aspect; money will get you up and motivated in the morning. Also, I am inspired by social media and seeing what is going on in the world; trends and checking everyone out.RAINE: You love sharing your knowledge with other young business owners. Can you explain why?MICHELE: It is important to share what I learned because I learned the hard way. I wasted so much time and made so many mistakes. I just think that it is important to return the favor and help young girls and show them the way to gain success.RAINE: What’s one piece of advice that someone has shared with you that has contributed to your success? MICHELE: Someone told me that if you are not ready or do not have the resources that it is ok to help someone do theirs in the meantime. I think it’s alright to help someone else get their life together, so when it’s your time, you will be ready.RAINE: What is your ultimate financial goal?MICHELE: I would like to set up a retirement that is big enough so that I can live the same lifestyle as I am currently living. Also, I want the company to grow into something big enough to pass on to my children, as well as introduce them to the business while they are still young.