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Founder and CEO, Gifts that Give
After over twenty-five years in the retail industry, eleven of them as a Vice-President of Neiman Marcus, Nancy Taylor was ready for something new. One day, she was approached by her future business partner who, at the time, was involved in fundraising for her children’s school by buying wrapping paper. The question was, “Wouldn’t it be great if we could get fundraising money from things we’d buy anyway?” At that moment, the idea for Gifts that Give took shape. An online store that enables individuals to combine their philanthropy with upscale shopping, Gifts that Give returns a generous 20 percent of merchandise purchases back to the school or non-profit the customer selects. In 2009, NJBIZ named Nancy one of the Top 50 Business Women of New Jersey.
On a mission to transform the shop-for-a-cause experience, Nancy and her partner launched Gifts that Give on October 2008 – the same month that Wall Street crashed. Since the timing was close to the holidays, Nancy dove right in, admitting that she didn’t have a lot of money to pour into the venture. Nancy learned from experience that she needed capital to do what she and her partner wanted with Gifts that Give, especially since the business gives nearly 50 percent of its profit back, which equates to 20 percent of the gross revenue. Eventually, Nancy found an angel investor to flush additional cash into the business.
Nancy, who also has remarkable fundraising experience, created the philosophy for Gifts that Give: charity first. She recognized that all non-profit organizations need donations, and that traditional methods have become inefficient due to the economy, shrinking volunteer pools and antiquated methods of attracting donors. Her objective is to help donors support organizations while buying fine products to enjoy having and giving as presents. Gifts that Give accomplishes this by offering a wide selection of products from luxury, highly recognizable brands such as Bungalow, Lilly Pulitzer and Royal Copenhagen.
Described as “the perfect storm” due to her retail experience, discriminating taste and ability to understand the non-profit world, Nancy developed a very different model for Gifts that Give than that of traditional businesses. It was created to be a simple, yet modern way to give and give back. For example, it’s risk-free for schools and non-profits to sign up because they are not charged a participation fee. Once registered, the organization is eligible for free, untapped money based on purchases. All shoppers also have the opportunity to key in their charity or school of choice if it is not already listed on the site.
However, Nancy ran into challenges getting the attention of people to hear about Gifts that Give, as well as those who didn’t understand the concept, thinking there was some sort of catch. Once she explained the concept, as well as how quickly the money adds up just for shopping on Gifts that Give, people came around.
According to Nancy, “Traditional retail is changing and technology is driving more Internet shopping. Is your organization positioned to take advantage of this rapidly growing trend? By partnering with Gifts That Give, schools and non-profits have a new and exciting way to encourage donations.”
Using the relationships she built while at Neiman Marcus, Nancy has more than 40 luxury vendors participating on the Gifts that Give website. However, she is quick to point out that luxury doesn’t automatically mean expensive, but it always means quality. For example, Nancy offers fine gifts under $30 and $50, as well as a $10 onesie packaged as a Lollipop, that has been a best-seller.
So far, Nancy’s biggest challenges have been having enough capital for the website start-up, getting the word out about Gifts that Give and the current economy. The financial crisis even prompted Nancy to change the online wording of the products from “luxury” to “upscale.” Despite these obstacles, Gifts that Give has written checks totaling $25,000 to various schools and non-profits in its first year of business. Nancy’s vision for Gifts that Give is to become nationally known as THE new fundraiser as well as for giving millions of dollars back to non-profits. She has done business in almost every state with the endorsement of national non-profit organizations, and aspires to eventually go international.
What we learned from Nancy: “You must be committed early on to your plan. You cannot develop a business from concept to be a national company on a part time basis. It’s all you, so fully commit yourself and be sure to inform your family. They must be committed to your efforts whether they are involved or not. Also, look at what you need to accomplish during the first two or three years and stay focused.”
On Second Thought
“When things get tough don’t second guess yourself. You know your talents and you know your business. If an issue or problem arises, take it seriously, but don’t second guess yourself.”
Point the Way
“In an entrepreneurial career, you have to start with a plan and keep your eye on the goal. It’s like going on a trip – you need that direction. You have to know where to start, how to get there and what it will cost.”
Customers are King
“Whatever you do, do it well. You have one chance to impress the customer and it’s always about them. If the client is happy, they’ll take care of you. Be known for giving really great customer service and be committed to give each client the ‘wow’ experience they deserve”.
This Featured Lady was profiled by Megan L. Reese, WORDrobe™ Stylist for Her Write Image in West Grove, PA.
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