333: Rapidly Scaling a Product Business with Minna Khounlo-Sithep

The BizChix Podcast: Female Entrepreneurs | Women Small Business | Biz Chix

Natalie Eckdahl

Business, Female, Podcaster, Tank, Twitter, Media, Biz, Social, Management, Mom, Entrepreneurship, Chick, Productivity, Children, Eckdahl, Google, Facebook, Shark, Entrepreneur, Plus, Paradise, Balance, Bizchix

4.8 • 630 Ratings

🗓️ 30 August 2018

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

Product-based businesses can be tough when it comes to dealing with manufacturers, inventory and distribution. But that doesn’t mean they’re impossible to rapidly grow and scale. Minna Khounlo-Sithep, founder of Lil’ Labels, waterproof writable labels for school and for daycare, joins me to share her journey scaling up to a 6-figure business in just one year.

Minna and I dive into the challenges of running a product-based business, vs. a service-based business, and the key takeaways she has gleaned from her experiences as an entrepreneur. Minna also shares how she leveraged her areas of expertise to build her business in such a way that it was able to grow even as she faced a stressful personal crisis.

We talk about the importance of getting really deep into and mastering just one platform before moving on to other areas, how to create visibility and sales beyond your primary platform to build a thriving business, and why we as leaders need to invest in ourselves as much as we invest in our businesses.

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This episode was first published at BizChix.com/333. Subscribe to our sister podcast, Stacking Your Team, on your podcast app or listen at https://bizchix.com/category/team/.

Transcript

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0:00.0	Could you use accountability, community, focus, and an infusion of new ideas into your business?
0:07.7	We'd love for you to consider our masterminds, and you can learn more by going to
0:11.9	bizchicks.com and clicking on the mastermind tab. That's b-I-Z-C-H-I-X.com.
0:21.2	She's busy juggling her own internet business.
0:24.5	A tween.
0:25.6	Whatever.
0:26.6	A toddler.
0:27.7	An infant.
0:29.5	A labradoodle.
0:30.9	And her husband.
0:32.0	What's for dinner, sweetie?
0:33.3	In her spare time, she talks to successful female entrepreneurs.
0:36.7	And a few cool dudes about their journey and how they make it all work.
0:41.9	Welcome to the Biz Chicks podcast with your host, entrepreneur, MBA, and mom.
0:48.0	Natalie Eckdahl.
0:49.9	Hey there, Biz Chicks.
0:51.4	As part of this series on The Stages of Business, I wanted to feature a few success stories of women who have rapidly made it to the scale stage and the multiply stage.
1:02.3	This week, we are featuring a product entrepreneur in the scale stage and wait to you hear how fast she built this business.
1:08.8	And next week, we feature a woman who has built a chain
1:11.7	of wellness centers. I think some of you know who I'm talking about. My guest today holds a very
1:17.9	special place in my heart. I will never forget the day I first heard from her. She sent me an
1:23.9	email and shared how the podcast had impacted her during a very difficult time in her
	...

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