Carrol Caldwell’s Journey

For graphic designer Carrol Caldwell, the idea for her company started with her teetering on a ladder in 1998. A lover of typography, Caldwell was trying to paint a Yeats quote on her bathroom wall. It dawned on her that there must be an easier way. Thus she created Wall Words, the first company to sell vinyl wall lettering.

Fast forward to 2012, and Caldwell’s business is still going strong. She employs six people and did $550,000 in revenue last year. Her quotes and wall art are found throughout thousands of residences and businesses, including the Pentagon’s commissary.

Education and Commitment

When Caldwell started 14 years ago, the idea of decorating with vinyl lettering and incorporating words into interior design was a new concept. As a pioneer in the field, she had to educate consumers and have faith in the product, even when others didn’t. During her initial market research, she found some resistance to the idea of decorating with words.

• “I surveyed a network group I belonged to, and none of them thought the idea was worth pursuing,” says Caldwell.
• “When you believe in your mission and product, ignore the nos. Do your due diligence, but at the end of the day, listen to your gut and go for it.”

Words on walls are now commonplace, and Caldwell shares today’s market with other manufacturers.

Keys to Success

Caldwell started her career in aerospace, where she was a graphic designer for 17 years before striking out on her own. She consulted with the career counselor at the company where she worked. The counselor advised seeking a degree in business since her design skills were already honed. That decision to focus on business techniques helped her build Wall Words.

• “Studying business introduced me to a variety of essential skills, such as the importance of quality control, hiring effective employees and knowing when to ask for help,” she says.
• Caldwell is also involved in the SCORE program and regularly participates in CEO Forums to connect with fellow business owners.

She takes business improvement classes at SCORE, where she has received valuable insights such as website performance tips, like fixing broken links and improving navigation.

Weathering the Recession

Prior to mid-2008, Caldwell posted $1 million in annual sales and had 11 employees. During the recession, she cut her workforce in half and saw sales dip by 40%. Despite the challenges, she stayed in business and remained profitable. She attributes her survival to facing reality head-on.

• “When the economy is rough, it’s hard for many small business owners to accept the fact that cutting costs is a necessity if you want to stay in business,” Caldwell says.
• She moved to a smaller office, reduced expenses, and became more selective with advertising.

New Products

Successful entrepreneurs stay ahead by responding to trends. For Caldwell, this meant expanding her offerings to include quality vinyl wall art when copycat brands entered the market. Her most recent innovation is a hot rod collection, which has been well-received by her customers.

• “The guys love the hot rods because they finally get the car they always dreamed about,” says Caldwell.

For Caldwell, remaining profitable and enjoying herself as a small-business owner means constantly creating new, fun products.

A freelancer since 1985, Julie Bawden-Davis has written for many publications, including Entrepreneur, Better Homes and Gardens and Family Circle. Julie blogs for Contently