Stefanie Ricchio
A CPA, Professor, Instructional Designer, Author, and Creator. Never one to shy away from learning, Stefanie has earned a great deal of opportunity to work on continuous improvement projects with organizations including private, crown and public. This exposure has allowed her the ability to understand many facets of organizations from finance & accounting, procurement, sales, operations, customer success management, and learning & development. Within this experience of nearly two decades, she has been able to consistently enhance her comprehensive understanding, deliver integrated and robust analysis, reporting and measurable successful implementations.
This experience led Stefanie to create the 5-I’s™ framework as a training methodology to be used to enhance associate skills and in turn create value for the associate and organizations employing them. Stefanie is proud of this tool and its success in inspiring change and growth in individuals. The goal of this tool is to allow anyone who has a desire for growth and change to be able to self- assess their skill set and take the initiative to step into their leadership. Balance The Five develops processes, creates content and resources, and engages individuals who need help in looking at the larger picture of a business.
Stefanie’s natural ability as a problem solver and a storyteller by nature has allowed her to be in involved in many projects that have created opportunities for growth and development for both associates and organizations. She wants to see both succeed.
"Together we find problems, analyze them and create solutions for improvement."
Stefanie Ricchio
How did you get into the world of Business Consulting?
I began my career in traditional accounting roles and was content to learn the fundamentals but soon found that my passion was in problem-solving and that I had a strong natural talent in doing so. This allowed me the opportunity to work on many consulting projects at the companies I worked for and as my confidence increased in saving time and money, I knew that this was a skill I could provide others.
What motivated you to become an entrepreneur and starting Balance The Five?
I enjoy freedom and being able to work on projects that speak to me. While my work as an employee was critical for my development, it didn’t allow the ability to work with and on specific projects that I enjoyed and found value in doing. My desire to help other entrepreneurs grow their businesses and learn about the total picture of business is what motivated me to start Balance The Five.
Tell me about your first entrepreneurial experience as a kid.
When I was a kid the banks had paper slips you had to fill out. I would go with my parents to the bank, take a stack home, and pretend for hours that I was the boss of the bank and all matters of financial importance had to come from me. I knew as a teen that finance and business would be the core of my career life.
How have your entrepreneurial motivations changed since you first started?
Money is important, but it will blind you in creating a business and vision that truly fulfills you. At first, we all attribute success with money, then you make some and don’t feel complete fulfillment. Now I seek engagements that make me feel great on the inside, that’s my currency. The more emotional connection I have to the work I do, the greater my delivery and success of my partners.
What’s the biggest lesson you’ve learned, and would pass along to other women leaving a corporation?
You must fall down, feel the criticism, circle back to the drawing board and keep moving forward. “No” is just temporary in the business world. It means go back and do some rework and come back again with something better. Invest the time in developing your skills, your ability to communicate in writing and in person. Your confidence in yourself must come through in everything you say and do if you want people to believe in you. But most of all, you need to believe in you.
Describe to us the most exciting minute of your entrepreneurial journey.
I just finished writing my first book, Beyond the Numbers, which will be released September 2018. I have had this idea in my mind for years, to be able to deliver this to individuals looking to step up their career in business and become leaders is the greatest accomplishment I could have ever imagined.
Are there any trends that you absolutely love or would love to see business owners leave behind?
Anything that is not automated and causing you to waste valuable minutes. Things like scheduling appointments via SMS. There are so many apps and services out there to streamline your business. Invest in these tools. The goal for business is leave behind non-value add work and focus on the work that adds value to your products, services and business overall.
What sacrifices have you had to make during life as an entrepreneur and a leader?
You sometimes have to forego time spent with people you care about. You may have to distance yourself from people who don’t understand your vision and plan. I have had to create distance with people who bring negative energy to my life. Protect your work, your business and your mental well-being by being selective about who you give access to yourself.
What is your life motto?
Be kind and do things from the heart. People will always second guess your motives and intentions, but that is them. When you give of yourself genuinely and freely you will find peace and happiness. Accept that those around you may not behave the same way, but that is on them and not a reflection of you. People can’t give you what they don’t have inside them.
If you had one piece of advice to our readers to those just starting out as a business owner, what would it be?
Keep going! Do not let rejection, fear, or naysayers stop you. Trust your intuition and follow your passion. You will know when you are on to something great and what isn’t working. Ask advice from the right people who understand your goals and plan, not everyone you know will be able to do this. Choose the right mentor and do not fear keeping your work to yourself until you are comfortable in sharing it with the world. When you are comfortable that is when you will achieve success because you will have done your work, made your investments and feel confident.
![From Music to Perfume: How did your background as a music teacher influence your transition into perfumery, and how do you incorporate your musical sensibilities into creating fragrances? I’ve always thought in terms of metaphors, and music has many that can be related to perfumery! Beyond just thinking in terms of top, middle and base notes [soprano/alto/tenor in choir], I approach each fragrant idea as a composition. When documenting my ideas, song structures often come to mind. As the scent brief is visited, I meditate on what the fragrance should convey - do I want to create an accord or a “chord” of fragrance note combinations? Do I want an a capella soloist (a particular ingredient to stand out more than others?) Many of my thoughts regarding song composition transfers to my scent formulation process, with me treating each note as an intentional soliloquy at some point.
Brand Origin: What inspired you to start Pink MahogHany in 2005, and how has your vision for the brand evolved since its inception?
An avid lover of all things pleasantly scented (with slight modesty), looking back in retrospect, it’s no huge surprise that I’ve created an indie perfume house with just an idea to provide unique options for those who may be sensitive to unnecessary pungency. Initially, I just wanted to evaluate various blends to note their aroma profiles when “played” together…it wasn’t until I had friends and family asking if I knew of brands that catered to those who may be on the more olfactory sensitive side, that I really began to take my research more seriously. In the almost 20 years that Pink MahogHany has been in existence, our micro visions for the brand have evolved to larger territory. Where Pink MahogHany used to only be a personal brand, we are now also a bespoke formulation service provider to other indie brands seeking unique fragrance offerings for their products. These products range from (but are not limited to) perfumes, candles, body butters and lip balms. Ingredient Transparency: You emphasize transparency and the use of desirable ingredients in your products. How do you select your ingredients, and what challenges have you faced in maintaining this standard?
Being an indie brand often comes with a set of assumptions and misconceptions - one of them being more negative than positive as it relates to ingredients used. There is a lot of “fluff” in the industry with labeling falsification. Because fragrance formulas are a trade secret, not every molecular breakdown of a material has to be noted on the ingredient label (it would be incredibly long), but we at Pink MahogHany™️ adhere strongly to the IFRA [International Fragrance Regulatory Association] regulations that state for common and potential allergens to be listed on our ingredient label. We’ve taken this a step further to also include these ingredients listed on our website to promote further transparency, all while protecting our intellectual property. Unfortunately, we’ve had companies to unethically sell lesser expensive “dupes” of our artisan perfumes, so as a way to create a better authenticity stamp, we make it our duty to be honest about our claims. If our perfume says “Rose Bulgaria”, it is in fact just that and not a component of rose being passed off as the source material. Collaborations and Custom Scents: Can you share more about your work with private label clients? What excites you most about creating custom scent solutions for other indie brands? I could easily sum this up in one word and say “Funding.” True, there is money out there, but I’m always thinking outside the box. Having a program that has an “Each One Fund One” mentality doesn’t exist (that I’ve been made aware of). Bootstrapping can be quite the challenge, even when you’ve reached the 6-figure mark annually. Competition to be seen and set apart is extremely high, so having quality packaging and branding is a must. There are lots of factors to consider, though when desiring to make upgrades. If there were a unique, tier-geared funding operation available, it would help perfume brands offset packaging and bulk material costs in the beginning stages.
Industry Challenges: What are some of the biggest challenges you've faced as an independent fragrance house, and how have you overcome them to grow your brand? As the brand continues on the path of organic growth, I would like to expand our reach into schools, offering perfumery as an arts elective for middle and high school. I’d love to partner with botanists, farmers and horticulturists directly to grow and source raw materials for the students to work with in the creation of tinctures. My passion is getting back to nature as best as possible, as nature was my first “scent experience” as a child. We would also love to witness our fragrance creations being used to scent model homes, our focus diffuser blends being used in automobile dealerships as well as partner with Air Bnb and boutique hotels that specialize in highlighting minority, indie brands. Personal Journey: How has your personal experience, particularly as a divorced mother and someone who has experienced the loss of a child, shaped your approach to life and your work in perfumery?
Because I homeschool my twin sons, we are together a lot more than most, so one thing we all do is have moments of sharing where a neutral “floor” is laid to converse about anything. Though they are quite communicative by nature, I realize that sometimes I can be in work mode so much that it spills over into what should be our quality time. My sons see the authentic me and learn how to communicate through seeing authenticity. I’ve learned not to feel as if I have to be the epitome of perfection but allow them to see my imperfections vulnerably but with discernment. Having had two traumatic experiences pretty close together has taught me how to truly slow down and enjoy the simplicities of life - igniting a spiritual aspect that I’ve always carried but never fully explored…until Kenji’s sudden passing (2018.) Grief has a way of catapulting us into a quest for more meaningfulness in both life and business. After Kenji’s passing and my processing through the initial stages of grief, I was able to incorporate our spiritual bond into Pink MahogHany by way of essential oil diffuser blends for both focus and sleep and most recently aromatic perfume elixirs. It’s been quite the process channeling the void of his physical presence, but I also have peace knowing he can be honored in a great way through scent. I noticed once I began to be more open and receptive to spiritual signs, synchs and “winks”, more ideas began to flow. It’s been this way since his transition. Emotional Expression: Fragrance is often tied to memories and emotions. How does your personal life influence the fragrances you create, and do you have a particular scent that holds special meaning to you? My creative process is much more alchemic now, and I include Kenji by talking out loud to him, believe it or not. I’m a firm believer that when our loved ones transition from the physical plane, they are still present - just in another form. I choose to keep his memory alive by not pretending he never existed (even if for a brief period of time). I am working (slowly) on a book and accompanying fragrance, but I know it will require me to revisit some memories I’m not quite ready for, so until then, his big brothers will launch their debut fragrance, The Peaceful Tiger (they chose the name.) I’ve learned that even in what we consider “small things”, our transitioned loved ones want to be recognized and acknowledged. When the twins and I designed their fragrance label (with a designer out of the country that didn’t know anything about me personally), we had issues with the graphic - so much so that the designer asked if they could rework the design. When they sent the proof for approval, the Tiger was not only younger but sleeping, with an uncanny, angelic resemblance to baby Kenji! Becoming more aware and being more sensitive to my intention for launching a fragrance has definitely made room for more divine situations like these to occur. Healing Through Scent: In what ways has creating fragrances been a form of healing or expression for you, especially after the loss of your son, Kenji Mwamba? I know my sons may not necessarily want to be perfumers, but they definitely have an entrepreneurial heart. My desire is that whatever they decide to pursue (acting, script-writing, music or architecture), they know that anything is possible with the right amount of determination, grit, belief and immersion. One reason I chose to homeschool is so they could enjoy learning without restraint and have ample time to devote to their own separate passions and it still be fun. They know Pink MahogHany is theirs if they want it (many, many years from now - lol), and we are already discussing business structures for whatever they choose their role to be once I retire. Work-Life Balance: How do you find balance between your professional responsibilities and personal well-being, and what self-care practices do you prioritize? I’m not just a perfumer; I’m also a consumer, and self-care is huge for me. I often take salt baths to reset my energy and clear my mind after being around large groups of people or free a long day. I’m a habitual perfume sampler, and I have so many to choose from to wear as my “nightcap.” Even if just for 10-15 minutes, I cherish each moment I’m able to have some “me-time.” When time and co-parenting schedules permit, I’m definitely on a flight somewhere to indulge in some delicious food and mouth-watering mocktails!](https://www.womenontopp.com/wp-content/uploads/2024/10/IMG_3812-1200x720.jpeg)
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