Puzzle Maker Boosts Art Accessibility and Diversity

Brooklyn-based Apostrophe Puzzles showcases original work by artists of color

Tip: Find the right support

When Masden launched her business, she conducted extensive research to find a manufacturing partner for her small-run production needs. She believed she had found a perfect match in a major puzzle manufacturer, but when demand for puzzles exploded during the pandemic, her manufacturing partner informed her it would not be able to support her startup’s small order. After help from a contact at another puzzle company, Masden found a replacement manufacturer who supported her mission to foster diversity and could commit to her as the company grew.

The company experienced another support challenge during its first year of operations. Masden had been operating from her Brooklyn apartment, housing inventory in a local storage unit, and personally handling shipping at a nearby post office. As the business grew, the setup proved unworkable. “I needed to find an arrangement that was more efficient and made financial and logistical sense,” she says.

After researching her options, she found a fulfillment partner with locations in New Jersey and California to ship both consumer and wholesale orders. The arrangement saves time and money since it costs significantly less than her original setup and frees her up to manage other parts of the business and devote time to the industry networking that is essential to her success.

Bottom line: To build a strong company foundation that is efficient and cost-effective, network with your business peers to find partners that are truly committed to your company. Ask about the types of companies they have worked with to determine if they can meet your needs now and as you grow. Even if you don’t know peers running companies like yours, network with people you know to reach their connections who might have the insight you need. The right vendors provide the support, experience and efficiency you need to stay focused on company goals.

Tip: Think creatively about financing

Masden — a professional actor whose credits include Broadway productions of “Jitney” and “Saint Joan,” and television shows such as “Law and Order: SVU” — started Apostrophe with $20,000 of her own savings. When the pandemic shut down most film and theater productions, her main source of income dried up. To compound the problem, the business was not able to qualify for Paycheck Protection Program (PPP) loans because it did not have 2019 income to report. Masden had to think creatively about funding. A crowdfunding campaign on IFundWomen.com brought in about $40,000, and the business has received several grants, such as a recent Enhancement Grant from the Coalition to Fund Black Businesses.

“While there are struggles as a Black female entrepreneur, there are institutions that target us with grants and coaching opportunities,” Masden says. “And, because the process of applying for grants required me to create a profile of the business for applications, it helped me crystalize what I was doing and why people should care about it.”

She stresses the importance of having a good accountant, business banker or other financial advisor to rely on for funding advice to be sure there’s a plan in place for cash shortfalls. “Experienced financial advisors can help you look at the short and long view,” she explains. “This is critical — if you go down the wrong path and make a financial mistake, as a new business that can be disastrous.”

Bottom line: Consider all potential options to finance your business and manage financial ups and downs. These can include a line of credit, business loans, business credit cards and grants from organizations that support small businesses. A financial advisor such as a certified public accountant or a business banker can advise you on what options may be available, and offer tips for preparing to secure funding, money management and other important financial areas.

Tip: Follow your passion

Before she started Apostrophe Puzzles, Masden says she didn’t realize the demands of running a small business would be constant. “There is not a time of day that I’m not thinking about my company,” she says. “I’m okay with that since I am committed to my company vision, but I was not prepared for how all-encompassing it is.”

Masden advises any new entrepreneur to make sure they’re starting a business for the right reasons.

“Don’t just start a company because you want to get rich,” she says. “Do it because you think you have an idea that there is a need for that will change people’s lives. Do something you love.”

Masden’s passion for her company continually fuels innovation. In the coming year, Masden would like to create a third collection of puzzles, including some 500-piece puzzles to accompany the 1,000-piece offerings. She aspires to get Apostrophe’s products into bigger retailers and more museum stores, and boost the artist royalties it offers from 12% to 15%. Masden also hopes to increase the percentage the company donates from every sale to nonprofits, such as ProjectArt, that work to expose children to the arts.

“Year-long arts classes available in schools can be life-changing for kids,” she says. “Art is a wonderful outlet for expression, and we want to help make that available in schools.”

Bottom line: Having a passion for what you do can help to sustain you through business ups and downs, and fuel company innovation. Search for a business idea that you believe in as well as something that is financially viable. You can attain this goal by focusing on a concept that delivers an important service that is meaningful to you. Or, you may be able to add a pro-bono element to your company enabling you to give back to the community. Either way, finding this rewarding element in your company will be good for you and good for business.