[08:19] HOW DID YOU TWO MEET?
Minna and Jacqueline connected online in a Facebook group after Jacqueline heard about Minna’s experience utilizing Amazon for her small business in a podcast episode. Realizing they both had product-based businesses and spoke the same love language (inventory, shipping, and pricing), the two entrepreneurs became fast friends. After they met in person for the first time, they pitched a mastermind. The Product Boss Podcast was born not long after, and the two have consistently put out weekly episodes since January 2018.
[14:14] YOU BOTH HAVE OTHER BUSINESSES, AS WELL. HOW DO YOU BALANCE IT ALL?
Both Minna and Jacqueline prefer the term “blending” to “balancing” when it comes to their work-life relationship and encourage each other to “buy back their own time” both within their personal and professional lives. This looks like hiring support with daily household tasks or delegating/outsourcing business tasks in order to create more windows of opportunity in which to dedicate their energy to the personal and business activities they value most.
[21:54] WHAT ADVICE DO YOU HAVE FOR SMALL BUSINESS OWNERS FEELING READY TO OUTSOURCE PART OF THEIR BUSINESS?
The creatives-turned-entrepreneurs remind listeners that “makers gotta make money,” otherwise their craft is just a hobby. They encourage small business owners to shift their mindset away from perfectionist ideals and limiting beliefs about what’s possible. They also encourage listeners to think strategically if the goal is to sell their work. When it comes time to outsource, they recommend small business owners first outsource things that are simple, repeatable, and teachable.
[30:00] HOW CAN SMALL BUSINESS OWNERS DRAMATICALLY INCREASE THEIR PROFITABILITY?
Minna and Jacqueline promote multiple streams of revenue as a reliable means of scaling a product-based business. They encourage makers to determine what their bestsellers are and how to get them onto multiple sales channels, rather than attempt to get many products on many channels. They also recommend that business owners focus on growing and familiarizing themselves with their customer base in order to home in and deliver on what their audience truly wants.
[36:01] WHAT ADVICE DO YOU HAVE FOR SMALL BUSINESS OWNERS WHO MIGHT BE HESITANT TO GET ON AMAZON?
While both women consider Amazon a valuable and potentially life-changing tool for small business owners, they acknowledge that it’s not the path to profit for all entrepreneurs. They encourage listeners to make an informed decision when it comes to selling on Amazon and to consider the possible value of using a bigger platform to reach customers that would otherwise require a massive marketing budget.
[45:10] HOW CAN PRODUCT-BASED BUSINESS OWNERS PREPARE FOR THE HOLIDAY SEASON?
The Product Boss way: Be proactive and not reactive. They encourage product-based business owners to prepare sooner rather than later (August at the latest) for the holiday season, and to focus on not just what they’re selling but how they’re selling. They note that makers often neglect marketing and pour all their energy into crafting their products and remind listeners that while they do make beautiful products, if there’s no one there to take them up on their offers, they’re not making money.