Your entrepreneurial journey spans multiple industries—from legal consulting to wellness. What inspired you to diversify into such distinct fields?
The fundamentals of a successful business—collaboration, adaptability, and strategy—are fluid across industries, a lesson I’ve carried with me since growing up in a family of medical entrepreneurs in Mississippi. Surrounded by innovators who blended service with business savvy, I learned the importance of building something that serves people and stands the test of time.
That foundation came full circle during my experience in redevelopment, where I saw those same principles in action. While working on a real estate project, I needed a plumber and was referred to Emmett. What started as a simple connection quickly turned into a partnership and marriage. I eventually joined Mechanical Piping Solutions (MPS) which focuses on commercial plumbing installations, as an owner and CFO.
These experiences shaped my approach to entrepreneurship, inspiring ventures like beem® Light Sauna Atlanta and Thomas Law & Consulting. beem® Light Sauna offers a wellness sanctuary where clients rejuvenate their minds and bodies through cutting-edge light therapy, while Thomas Law & Consulting provides entrepreneurs with the strategic guidance and legal structure needed to navigate the complexities of building and scaling successful businesses. Together, these ventures empower me to help others thrive holistically—in mind, body, and business.
Can you share a pivotal moment when adaptability and resilience helped you navigate a major business obstacle?
We’ve officially hit the one-year mark for our Beem Light Sauna studio, and as I reflect, I’m filled with both celebration and thanksgiving. It’s been a year of growth, resilience, and learning. While it’s exciting to look at where we are now, I won’t sugarcoat it—this year was far from easy.
When my husband and I decided to embark on this journey, we wanted to create an impactful business that aligned with our values: low overhead, professional training, and staying firmly rooted in the health and wellness industry. It was my husband who initially came up with the idea of a sauna studio, and after some research, I knew this brand was the one. Beem Light Sauna’s prelaunch program sealed the deal for us, and we became the third franchise location to open.
However, what we didn’t anticipate were the significant challenges that come with being early adopters. The prelaunch didn’t meet expectations—our initial goals were missed by a wide margin. We started off behind the eight ball, and it was a tough pill to swallow. A combination of poor marketing decisions by the brand, the timing of our opening, and ongoing tech issues made the first year a struggle.
When I say it drained our savings and impacted our other businesses, I’m not exaggerating. There were moments when we asked ourselves, “What have we done?” But no matter how tough it got, one thing we didn’t do was quit.
Instead, we leaned into the challenge and made three key strategic moves that turned everything around, doubling our revenue in just three months:
- Hiring an Experienced Manager Who Believed in the Vision
We knew we needed someone on the ground who was as committed to our studio as we were. Finding the right manager—a true leader with experience and a shared passion for our vision—was a game changer.
- Revamping Marketing with a Laser Focus on New Membership Growth
We shifted our focus to building highly targeted marketing campaigns that brought in a steady influx of new members. We closely monitored performance and refined our strategy as we went. It wasn’t about throwing money at ads—it was about creating campaigns that truly resonated with potential members.
- Sticking Firmly to the Brand Model
We doubled down on what drew us to Beem Light Sauna in the first place: an amazing member experience. From maintaining a pristine, luxury studio to ensuring our team was fully trained to provide a top-tier experience, sales process, and lead generation, we made sure the core values of the brand remained front and center.
Now, looking back, I can say the struggle was worth it. The lessons we learned—about resilience, strategic decision-making, and staying true to our vision—have not only turned our studio into a thriving business but have also made us better entrepreneurs.
To my fellow founders: challenges will come. There will be times you question everything. But if you’re willing to adapt, make the hard decisions, and stay true to your vision, you’ll find your way to the light at the end of the tunnel.
Here’s to building something impactful, one step at a time.
Thomas Law & Consulting prides itself on transforming founders into effective CEOs. What common mistakes do you see business owners making, and how do you guide them toward success?
One of the most common mistakes I see founders make is the lack of a strategic plan for growth which leads to a range of downstream issues. Without this clear vision, the ripple effects can be felt throughout the entire business. Founders often overlook key areas like delegation and team-building, thinking they can do it all themselves. But the reality is, without a solid plan, they quickly find themselves overwhelmed and stuck in a cycle of inefficiency. All of this contributes to a slower growth rate. The business struggles to expand because it hasn’t set up the necessary systems and teams to support that growth. The lack of a growth strategy ultimately impacts the long-term success of the business, limiting its ability to scale and adapt in a competitive market.
That’s where we come in. At Thomas Law & Consulting, we help founders transition from doing it all to leading their businesses like true CEOs. We work with them to create actionable, strategic plans that include everything from legal protections to team development. By empowering them to delegate and focus on what matters most which is growth, and they can set their business on a path for long-term success.
What are you looking forward to most in 2025?
2025 is shaping up to be an exciting year! I’m looking forward to expanding the services at Thomas Law & Consulting to better support founders at the scaling stage of their journey, with a strong focus on helping them expound their vision. Whether it’s through more in-depth strategic planning, new resources for scaling businesses or offering personalized legal counsel, I’m committed to providing the tools and guidance that empower business owners to align their vision with tangible success. On a personal level, I’m eager to see the continued growth of my wellness business and further refine how my ventures intersect to create an even greater impact. Most importantly, I can’t wait to connect with more audiences through speaking engagements and inspire others to seize their moment and turn their vision into reality.
How can readers stay in the loop of your offers and endeavors?
Readers can follow me on the social media platforms for Thomas Law & Consulting and subscribe to my mailing list. They can also visit my websites—Thomas Law & Consulting and Latrice Smith. Also, follow me on social media @thomaslawandconsulting, and @latricesmithesq for updates, events, and services. Exciting things are always happening, and I’d love for everyone to stay connected!