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When Florida native Lindsay Phillips first dreamed up SwitchFlops, a versatile flip-flop with interchangeable straps, she was just a teenager who needed an art project. Today, her company is projected to bring in $30 million in revenue this year.

Did we mention she's only 25?

We asked the young business leader to tell us what it's like to run a company, what makes her tick, and how you can come up with our own multi-million dollar idea.

How did you navigate the world of business as a young woman? Did you find the industry was reluctant to take you seriously?
When I was 16, I had a high school art project that I really believed in, and I decided to patent the concept. I had no idea what I was doing, but have been in the business world ever since.

My rule is that you live and you learn while tweaking along the way. At first, it was challenging being a young female entrepreneur, but I decided early on to embrace it rather than let it bring me down. I've tried to keep my head up and have used it in my favor. I'm pretty good at reading people right away, so I can tell off the bat if I am dealing with a good or bad person. I'm a big believer in karma. You get what you give.

What was it the most challenging part of getting started?
When I first started, I didn't even have a business plan. I just had a great idea. Looking back, the hardest part along the way was finding a manufacturer.

What were some of your biggest worries when you first got going?
My worries always seem to be the same: Running out of inventory, making sure we stay on budget, maintaining and hitting sales projections, developing perfect quality goods, making sure our shipments go out on time...

What are the best and worst parts of owning your own company?
I'm my own boss and I can control my own schedule. Well, maybe -- my days are all very different and I never know what a new day is going to bring. When you own your own company, you work around the clock and you never stop thinking about work. There are days when I don't sleep, and occasionally times when I have to be calm and collected around my entire team when things are actually not so calm.


What advice would you offer to a young woman considering starting a small business?
- Keep your head up and don't give up. Make sure you're persistent!
- Don't let anyone tell you that you can't do something. If you believe in yourself and your idea, you WILL make it happen
- If it were easy, every one would be doing it.
- There will be good days and bad days.
- Don't be afraid to ask for advice.
- The worst thing someone can tell you is NO.

"I wake up in the middle of the night thinking about..."
New designs and innovations! I love dreaming up color palettes and trends. Sometimes I wake up and start thinking of all the things I need to do, or the things I didn't finish the day before.

I keep a pad on my nightstand to make sure I don't miss anything, even though my dog Cosmo -- a big yellow lab who sleeps with me -- gets upset when I turn on the light to jot things down. He doesn't like to be woken up ... he needs his beauty sleep.

At 25, it must be stressful to be responsible for 35 employees. How do you stay positive and grounded?
Working out: I combine my week with running, lifting weights, and Pilates. I also recommend a nice glass of wine and a piece of chocolate everyday!

Maureen Dempsey is a freelance writer and frequent Lemondrop contributor. Her last post for Lemondrop examined a trend in ladies out-earning the fellas.