Today we’d like to introduce you to Asha Banks.
Hi Asha, please kick things off for us with an introduction to yourself and your story.
My journey into entrepreneurship began at a very young age. In my early teens, I was frustrated with the lack of hair and skin options with clean ingredients, so I stocked up on books and formulated and sold hair and skin products tailored to the needs of African Americans. This early business sparked my passion for creating products that serve underrepresented communities and laid the foundation for my entrepreneurial spirit.
The idea for CheerNotes had been in my mind for years before launching, especially during those frustrating trips to search for greeting cards that reflected Black likeness and culture. It was disheartening to visit multiple stores and still not find cards that truly resonated with me. This consistent gap in the market led me to reimagine a more inclusive and culturally representative greeting card experience.
In 2018, I made a pivotal decision to leave my engineering career and fully commit to my entrepreneurial journey. Business school provided the perfect environment to explore and refine my ideas. CheerNotes was officially launched during the summer between my first and second year of business school. I conducted extensive customer research, which confirmed a significant demand for more personal and culturally aligned greeting cards.
I launched our e-commerce site in January 2020, starting with five artist partners and offering a sign-and-send service, where we personalized and mailed cards directly to recipients. Despite the challenges posed by the pandemic, 2020 was a transformative year. Participating in the Target Accelerators program provided invaluable insights into marketing, pricing, and business strategies. The pandemic’s impact on in-person gatherings also highlighted a new revenue stream: custom cards. Our first significant custom order came from Carnegie Mellon University, creating bespoke cards for over 400 students around the world who couldn’t return to campus.
By the end of our first year, we had expanded to 12 artist partners and developed systems for inventory management and fulfillment. I learned and adapted continuously, phasing out the manual sign-and-send service due to its inefficiencies and focusing on what worked best for our customers.
Today, CheerNotes has grown significantly, wholesaling to over 400 stores and more than 2,000 locations worldwide. We work closely with our customers and retail partners to create products that people wish existed. This collaborative approach has led to the development of new notebooks and card designs, including our award-winning “Cool Birthday Girl” card featuring a modern young Black birthday girl.
We are also expanding our business by launching an art licensing agency. This new venture aims to support culturally diverse artists by helping them bring their work to a broader market, including big box brands and stores. This agency is a natural extension of our mission at CheerNotes, focusing on driving change within the stationery, lifestyle, and gifts categories by promoting greater cultural representation. I’m excited to be able to work with more artists in this expanded way, helping them to make products that will reach customers well beyond the product line and distribution that CheerNotes alone can accommodate. By supporting culturally diverse artists and bringing their unique perspectives to the mainstream, we hope to inspire inclusivity and diversity in design in a way that helps more people feel seen.
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
Entrepreneurship has been a vastly different experience from even my final corporate role as a management consultant. In that role, while extremely dynamic and ‘intrapreneurial,’ there was a certain level of structure and support. Transitioning to being a solo entrepreneur meant building everything from the ground up and navigating entirely new territories—retail, design, and e-commerce—without prior experience.
We hear a lot about imposter syndrome, and it’s hard for that not to creep in along the journey. Being an entrepreneur has its highs and lows—your strengths become so much more apparent, and opportunities for growth do too. Journaling has helped me process it all and see how far I’ve come. I’ve also been incredibly blessed to have the encouragement and unwavering support of my family. My parents, for example, fulfill most of our orders, and my partner, who is also an entrepreneur, serves as a constant sounding board and source of encouragement.
Securing initial capital for CheerNotes was another significant hurdle. Winning an award for my commitment to diversity and connection provided the funds needed to kick-start CheerNotes in 2020 and buy the initial inventory. This award was a pivotal moment that reinforced my decision to pursue this path.
Since then, I’ve been blessed with multiple grants that have supported our growth, but capital remains a constant challenge. Bootstrapping the business has required a lean, pragmatic approach. Every decision is made with careful consideration of its impact on our limited resources. To manage this, I deploy strategies like preorders, which allowed us to launch notebooks into our collection this past spring. This approach minimized the impact on our working capital, and we’ve sold out twice from that launch.
Launching in 2020 during the COVID-19 pandemic introduced its own set of challenges, such as supply chain disruptions and shifting consumer behaviors. The aftermath of the pandemic still reverberates today with substantially higher costs for inventory, supplies, and some services. We’ve navigated raising our prices while still trying to maintain key points of affordability, like free shipping for orders on our website and low minimum order requirements for small shop owners around the world.
Expanding into the art licensing agency is a new leap of faith, as it involves entering a new corner of the industry that is unfamiliar to me. Over the past three years, I’ve developed my own licensing and royalty model to work with artists for CheerNotes products, which has been a tremendous learning experience. Building a presence as an agency and developing relationships with larger brands and retailers is a new challenge. I am blessed to have an amazing, experienced mentor who has taken me under her wing. Additionally, attending three trade shows—NY Now, Atlanta Mart, and Noted + Gifted this year—has allowed me to start conversations about our new agency with multiple companies. The reception and follow-up meetings have been encouraging and affirming—we’re embarking on something that is much needed!
These are just some of the obstacles that have helped me to be a resilient and innovative founder. Each challenge has reinforced the importance of smart, pragmatic decision-making and the value of a supportive network. My journey has been one of constant learning, adaptation, and growth, driven by a passion to create products that resonate deeply with our diverse customer base.
Thanks – so what else should our readers know about CheerNotes?
CheerNotes is a stationery brand dedicated to providing culturally representative and inclusive greeting cards and stationery products. We specialize in creating items that reflect diverse backgrounds and authentic expressions, filling a significant gap in the market for products that resonate personally and culturally.
Our innovative approach to diversity has not only earned us prestigious recognition, such as the 2023 Louie Award for Best Children’s Birthday Card, but it has also driven us to disrupt traditional norms in the stationery industry. One of our proudest achievements is our award-winning “Cool Birthday Girl” card, which epitomizes our mission to create designs that people feel connected to and proud to share.
We work closely with a diverse group of artists to develop our products, ensuring that our offerings are unique and deeply meaningful. This collaboration extends to our customers and retail partners, whose feedback is invaluable. Many have shared how much it means to them to see culturally representative cards that reflect their experiences, making CheerNotes a part of their special moments.
Our products are more than just stationery—they are part of people’s lives and celebrations. Customers often tell us how special it is to find our cards, stickers, notebooks, or other products in stores and to use them personally or as a gift. For our artists, seeing their work enjoyed and appreciated by a wide audience is incredibly rewarding.
We are also expanding into an art licensing agency to support culturally diverse artists, helping them bring their work to broader markets, including major retailers. This new venture aims to promote greater cultural representation in the stationery, lifestyle, and gifts categories.
At CheerNotes, we are passionate about making everyone feel seen and valued through our products. We strive to ensure that our offerings are not only unique but also profoundly impactful, fostering a sense of inclusion and connection in every piece.
Where do you see things going in the next 5-10 years?
The stationery and greeting card industry is set to undergo significant transformations in the next 5-10 years, driven by evolving consumer behaviors and societal trends. Here are some key shifts we anticipate:
1. Increased Demand for Inclusivity and Diversity:
As consumers become more conscious of representation, there will be a growing demand for products that reflect diverse backgrounds and personal experiences. According to McKinsey, 68% of consumers say their social values shape their shopping choices, with a strong desire to support Black-owned and inclusive brands. At CheerNotes, we’re proud to lead this change by providing culturally representative greeting cards. Each product features the story and image of the artist on the back, creating a personal connection between the creator and the consumer. This not only supports minority artists but also resonates deeply with customers seeking products that reflect their identity and values.
2. Sustainability and Eco-friendly Products:
Environmental sustainability is increasingly important to consumers. A McKinsey report highlighted that 66% of respondents consider sustainability when making purchases, and this trend is expected to grow. In response, the industry will shift towards using eco-friendly materials and sustainable practices. Consumers will demand transparency about product origins and manufacturing processes, pushing companies to adopt greener solutions. At CheerNotes, we are committed to sustainable practices both with our use of recycled materials and having manufacturing partners that have sustainable practices.
3. Customization and Personalization:
Personalization will become a cornerstone of the industry. Advances in printing technology and e-commerce platforms will allow for greater customization options, enabling consumers to create bespoke products that reflect their unique tastes. According to a Deloitte study, 36% of consumers express interest in purchasing personalized products, and this number is on the rise. We look forward to being able to accommodate personalized items for everyday customers like we are able to do for businesses.
4. Support for Small and Minority-Owned Businesses:
There is a significant trend towards supporting small and minority-owned businesses. McKinsey’s research shows that 45% of consumers believe companies should support Black-owned businesses, indicating a strong market preference for products that contribute to social equity. Consumers are increasingly interested in knowing who they are supporting with their purchases. This shift in consumer behavior is driving more people to shop small and local, valuing the unique and personal touch that these businesses offer. At CheerNotes, we highlight our artist partners’ stories, ensuring customers know the impact of their purchases and fostering a deeper connection with the brand.
By embracing these trends, CheerNotes is positioned to not only meet but exceed consumer expectations in the evolving stationery market. Our focus on inclusivity, sustainability, personalization, and support for small businesses aligns perfectly with the future direction of the industry. As we continue to innovate and grow, we remain committed to creating products that make everyone feel seen and valued.
Contact Info:
- Website: cheernotes.com
- Instagram: https://www.instagram.com/cheernotes/
- Facebook: https://www.facebook.com/CheerNotes/
- Linkedin: https://www.linkedin.com/in/ashabanks/
