Romy Taormina – Successful entrepreneurs can be good mothers and wives

January 20, 2021

Psiband interview on Enterprise League

When you google “Romy Taormina” the first suggestion you get is “Romy Taormina net worth”. This is just a small attestation of her success as an entrepreneur. She’s not unfamiliar with TV studios and cameras. Her most noticeable TV appearance was on Shark Tank where she got and refused an offer.

Seven years after appearing in front of the Sharks, Psi Bands, her famous innovation – cool-looking acupressure wristbands that help relieve nausea – is selling better than ever. Available in many retail shops, you can also find the products online on Amazon or just head quickly to Target.

Romy, a born entrepreneur, has helped millions of people suffering from nausea in the last 14 years.

Feeling under-appreciated as an employee, a nonexistent work-life balance, financial struggles, getting out of bad relationships – these are the most common triggers that push women to become entrepreneurs. Tell us about your trigger?

I am an entrepreneur at heart. I love to create, visualize, and implement. I saw a need for a better product, and after a lot of research evaluating market potential, I “ran with it.”  

Romi Taormina quote

How did you come up with your business idea?

I suffered from debilitating nausea during both of my pregnancies. I found nausea relief from acupressure wrist bands but was dissatisfied with the existing products on the market so I set out to create a superior product.

Have you had support from someone, even if just encouragement? Who was that and how did it help you?

My husband, Michael, of almost 25 years. He was (and is) supportive of my commitment to my company and belief that I could breathe life into a product idea, take it to market, and keep it there. Psi Bands have been selling into the marketplace for 14 years at retailers such as Target, REI, HEB, Pharmaca, Amazon, etc.; in hospitals; and internationally. More than 1m sets sold. We are making a positive and meaningful difference for those who suffer from nausea. 

Female entrepreneurs are often underestimated and overlooked. Have you ever felt at a disadvantage?

When or if I feel like I am being treated at a disadvantage, I stay true to myself. I hold my head high. Sometimes silence is best. Quiet can be loud. Other times, voicing a concern or opinion is critical.  

Some say it’s hard work, others say it’s talent and resourcefulness that play a crucial role for success in entrepreneurship? Which traits have been instrumental for your success so far? And why?

Hard work, passion, growth mindset, strategic outlook, gratitude, and resourcefulness have played a crucial role for success.

What excites you the most about being an entrepreneur?

I am always challenged. Every day brings a new set of challenges and opportunities. And it’s up to me to decide how to creatively and strategically handle them. It’s a journey – and one I embrace. 

Share with us some of the worst business advice you’ve ever received?

“Sell everywhere you can.” Me: “no.” Our organic and targeted approach has allowed us to stay in business. I’d rather be in business than quickly out because we were underfunded and didn’t have the right expertise and/or systems in place to scale up. Learning daily is part of the journey and one I embrace.  

You’ve got a high stake investment opportunity. Pitch your business in 150 words.

I was on “Shark Tank” and received and declined an offer. Here’s the 60-second pitch.

What’s the best piece of advice you’d give to inspire aspiring entrepreneurs?

“You miss 100% of the shots you don’t take.” – Wayne Gretzky

What are your goals for the upcoming year?

Expand internationally and increase our online presence. We are partially doing this with grants and assistance from the US Commercial Service. Applying for grants is one of many ways to fund a company.   

Any final words to end this interview?

I am a mom of two boys ages 18 and 21. I have been married for almost 25 years. One can be both a successful businesswoman and mother/wife – without guilt and with humility, gratitude, and fulfilment.  

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