1 00:00:00,300 --> 00:00:04,200 Gift biz on wrapped episode 168. 2 00:00:04,590 --> 00:00:07,590 Don't be afraid to try something just because you think it 3 00:00:07,590 --> 00:00:09,920 is hard Attention. 4 00:00:09,920 --> 00:00:11,090 Gifters bakers, 5 00:00:11,090 --> 00:00:14,720 crafters, and makers pursuing your dream can be fun. 6 00:00:14,960 --> 00:00:18,410 Whether you have an established business or looking to start one. 7 00:00:18,410 --> 00:00:21,080 Now you are in the right place. 8 00:00:21,320 --> 00:00:23,690 This is gift to biz unwrapped, 9 00:00:23,930 --> 00:00:27,530 helping you turn your skill into a flourishing business. 10 00:00:27,830 --> 00:00:29,180 Join us for an episode, 11 00:00:29,180 --> 00:00:31,370 packed full of invaluable guidance, 12 00:00:31,520 --> 00:00:34,370 resources, and the support you need to grow. 13 00:00:34,370 --> 00:00:35,540 Your gift biz. 14 00:00:35,750 --> 00:00:39,620 Here is your host gift biz gal Sue moon Heights. 15 00:00:40,370 --> 00:00:40,760 Hi there. 16 00:00:40,940 --> 00:00:43,640 It's Sue and thank you For spending part of your day 17 00:00:43,640 --> 00:00:44,240 with me. 18 00:00:44,570 --> 00:00:46,340 If you're a first time listener, 19 00:00:46,370 --> 00:00:49,640 why don't you go ahead and hit that subscribe button if 20 00:00:49,640 --> 00:00:51,830 you're listening in Apple podcasts. 21 00:00:51,980 --> 00:00:54,560 So you don't miss a single episode. 22 00:00:54,890 --> 00:00:57,080 And for those of you who have been around a while, 23 00:00:57,080 --> 00:00:58,430 my long-term listeners, 24 00:00:58,460 --> 00:01:00,320 I so appreciate you. 25 00:01:00,590 --> 00:01:02,960 Thank you for making time each week to listen to the 26 00:01:02,960 --> 00:01:05,840 show. If you have any comments for me, 27 00:01:06,170 --> 00:01:08,780 thoughts on who you'd like to hear on the show topics 28 00:01:08,780 --> 00:01:13,460 you'd like to have discussed or really anything you can reach 29 00:01:13,460 --> 00:01:16,370 out to me at SU at gift biz, 30 00:01:16,400 --> 00:01:19,670 unwrapped.com. Today, 31 00:01:19,670 --> 00:01:23,300 I have queued up a really important topic for you, 32 00:01:23,360 --> 00:01:25,550 and that is inventory. 33 00:01:25,910 --> 00:01:28,730 If you manage your inventory properly, 34 00:01:28,820 --> 00:01:31,790 it really can help strengthen your business. 35 00:01:32,030 --> 00:01:35,090 You're able to find extra money to invest and just keep 36 00:01:35,090 --> 00:01:39,290 all the dollars moving as you're growing your business versus having 37 00:01:39,290 --> 00:01:41,600 them locked up in inventory. 38 00:01:41,600 --> 00:01:45,380 That's sitting on the shelf for months or heaven forbid, 39 00:01:45,440 --> 00:01:46,940 should I say years? 40 00:01:47,240 --> 00:01:49,640 Lane booth is here to talk with us about this today. 41 00:01:49,670 --> 00:01:51,200 And without further ado, 42 00:01:51,260 --> 00:01:55,280 let's just go ahead and dive in Lane's business. 43 00:01:55,310 --> 00:01:59,720 The project booth focuses on the inventory and ordering mayhem. 44 00:01:59,750 --> 00:02:02,930 That becomes a struggle for many product based businesses. 45 00:02:03,290 --> 00:02:05,240 Lane grew up as a math nerd. 46 00:02:05,390 --> 00:02:09,800 So fun that you use that term land graduated colleges with 47 00:02:09,830 --> 00:02:13,730 two engineering degrees and went straight into manufacturing. 48 00:02:14,090 --> 00:02:17,180 She spent over a decade in the supply chain world, 49 00:02:17,480 --> 00:02:19,430 but as her family started to grow, 50 00:02:19,490 --> 00:02:21,800 she was ready for more flexibility. 51 00:02:22,250 --> 00:02:26,120 She started the project booth to help businesses confidently plan their 52 00:02:26,120 --> 00:02:27,680 sales, their inventory, 53 00:02:27,710 --> 00:02:31,520 and maximize their bottom line lane makes the numbers in your 54 00:02:31,520 --> 00:02:34,730 business. Air quotes show you the money. 55 00:02:35,000 --> 00:02:36,680 When not nerding out with numbers, 56 00:02:36,710 --> 00:02:39,680 you can find lane enjoying time with her family at the 57 00:02:39,680 --> 00:02:44,900 playground or catching the latest superhero movie with her husband lane. 58 00:02:44,900 --> 00:02:47,330 Welcome to the gift biz on wrapped podcast. 59 00:02:47,420 --> 00:02:48,110 Thank you so much, 60 00:02:48,110 --> 00:02:49,400 Sue pleasure to be here. 61 00:02:49,820 --> 00:02:52,880 When I found out what you do in your business, 62 00:02:53,060 --> 00:02:53,750 I was like, 63 00:02:53,900 --> 00:02:54,710 Oh my gosh. 64 00:02:54,800 --> 00:02:56,660 So perfect for our audience, 65 00:02:56,660 --> 00:03:00,220 because this is a topic we've never talked about before, 66 00:03:00,250 --> 00:03:02,230 so I can not wait to get into it. 67 00:03:02,260 --> 00:03:03,490 But before we do, 68 00:03:03,640 --> 00:03:06,670 I like to start off every show by having you describe 69 00:03:06,670 --> 00:03:08,830 yourself in a little bit of a different way, 70 00:03:09,130 --> 00:03:11,650 and that is through a motivational candle. 71 00:03:11,860 --> 00:03:15,340 So if you were to share with me what your ideal 72 00:03:15,340 --> 00:03:18,070 candle would look like in color and quote, 73 00:03:18,220 --> 00:03:19,060 what would that be? 74 00:03:19,650 --> 00:03:20,580 I love this question. 75 00:03:20,580 --> 00:03:21,510 Sue, such a good one. 76 00:03:21,840 --> 00:03:23,760 Since I love clean, 77 00:03:23,790 --> 00:03:25,380 crisp elegance, 78 00:03:25,410 --> 00:03:27,420 I'm going to go with a bright white for the color. 79 00:03:27,750 --> 00:03:30,360 And the quote is actually going to come from my mom 80 00:03:30,570 --> 00:03:31,110 at something. 81 00:03:31,110 --> 00:03:33,600 She told me when I was a teenager that really stuck. 82 00:03:33,810 --> 00:03:35,670 And if you think back to your teenage years, 83 00:03:35,820 --> 00:03:36,810 what your mom said to you, 84 00:03:36,810 --> 00:03:38,940 a lot of times probably didn't sink all the way through, 85 00:03:38,970 --> 00:03:39,870 but this one did. 86 00:03:40,200 --> 00:03:43,290 And she told me don't be afraid to try something just 87 00:03:43,290 --> 00:03:44,760 because you think it is hard. 88 00:03:45,030 --> 00:03:48,780 And that is something that has impacted so much of my, 89 00:03:48,990 --> 00:03:52,290 everything from college choice to my career and now my business. 90 00:03:52,350 --> 00:03:54,990 So don't be afraid to try something just because you think 91 00:03:54,990 --> 00:03:56,340 it will be Right. 92 00:03:56,340 --> 00:03:57,090 Because I mean, 93 00:03:57,090 --> 00:03:58,230 the thing about hard too, 94 00:03:58,230 --> 00:04:00,660 is a lot of people won't try because it's hard. 95 00:04:00,660 --> 00:04:01,860 So if you do, 96 00:04:01,920 --> 00:04:03,630 you are way ahead of everybody else. 97 00:04:04,140 --> 00:04:06,240 Absolutely. And it's ranked true. 98 00:04:07,200 --> 00:04:07,560 I bet. 99 00:04:07,560 --> 00:04:09,840 So does your mom know that this is a quote that 100 00:04:09,840 --> 00:04:10,260 you use? 101 00:04:10,260 --> 00:04:10,500 I mean, 102 00:04:10,500 --> 00:04:13,860 have you circled back and does she know this Didn't really 103 00:04:13,860 --> 00:04:16,920 bring it up until about a couple years ago and we 104 00:04:16,920 --> 00:04:18,270 had kind of a teary-eyed moments. 105 00:04:18,930 --> 00:04:20,490 Oh, that's so sweet. 106 00:04:20,880 --> 00:04:21,270 But yeah, 107 00:04:21,300 --> 00:04:24,450 just something that has really impacted a lot of decisions in 108 00:04:24,450 --> 00:04:24,810 my life. 109 00:04:24,810 --> 00:04:25,590 So she knows, 110 00:04:25,590 --> 00:04:28,920 and she's very pleased and happy to know that that's impacted 111 00:04:28,920 --> 00:04:31,590 my life And now you're sharing it with like tons of 112 00:04:31,590 --> 00:04:32,280 people too. 113 00:04:32,280 --> 00:04:33,450 So that's exciting. 114 00:04:33,510 --> 00:04:34,560 She has to know that too. 115 00:04:34,560 --> 00:04:36,870 Now I know I have to make sure she listens to 116 00:04:36,870 --> 00:04:37,560 the podcast. 117 00:04:38,520 --> 00:04:43,680 Exactly. So let's talk about how you identified and started the 118 00:04:43,680 --> 00:04:44,640 project booth, 119 00:04:44,670 --> 00:04:48,690 how you identified the need that this existed having to understand 120 00:04:48,690 --> 00:04:51,600 inventory and then how it circled into the project booth. 121 00:04:52,110 --> 00:04:56,850 Sure. So my supply chain career has been focused quite a 122 00:04:56,850 --> 00:05:00,690 bit on inventory and what we would call sales forecasting. 123 00:05:00,690 --> 00:05:02,730 So how is that all going to tie together? 124 00:05:02,820 --> 00:05:04,770 Because if you think about corporations, 125 00:05:04,830 --> 00:05:06,810 they're all about the bottom line for my career. 126 00:05:06,810 --> 00:05:10,740 I had spent so much time projects and efforts to really 127 00:05:10,740 --> 00:05:14,580 maximize the right amount of inventory to get the right amount 128 00:05:14,580 --> 00:05:15,870 of profit at the end of the day. 129 00:05:16,170 --> 00:05:18,810 And I just had a thought that this might be really 130 00:05:18,810 --> 00:05:21,300 beneficial for smaller businesses. 131 00:05:21,510 --> 00:05:23,490 So I started doing a little bit of market research, 132 00:05:23,490 --> 00:05:28,260 started talking to some small business owners and asked them about 133 00:05:28,260 --> 00:05:29,880 what is your ordering process look like? 134 00:05:29,880 --> 00:05:32,580 How do you figure out how much inventory to have? 135 00:05:32,670 --> 00:05:35,490 And I was getting a lot of dead air on the 136 00:05:35,490 --> 00:05:36,090 other side. 137 00:05:36,690 --> 00:05:37,740 Yeah. It's like guessing, 138 00:05:37,740 --> 00:05:38,490 right? I mean, 139 00:05:38,490 --> 00:05:40,710 really that's what most people do It is. 140 00:05:40,710 --> 00:05:43,470 And you got to start somewhere so guessing that was a 141 00:05:43,470 --> 00:05:45,300 start for some of these folks. 142 00:05:45,300 --> 00:05:48,300 But when I talked about the benefits of that and how 143 00:05:48,300 --> 00:05:51,660 that could reduce some of the chaos and the confusion, 144 00:05:51,960 --> 00:05:53,670 it really started to identify that, 145 00:05:53,670 --> 00:05:56,190 yes, this was a need in this small business, 146 00:05:56,190 --> 00:05:57,530 medium sized world. 147 00:05:57,800 --> 00:05:59,360 So What were your first steps? 148 00:05:59,360 --> 00:06:00,170 How did you, 149 00:06:00,230 --> 00:06:01,400 so you identified the need, 150 00:06:01,400 --> 00:06:05,390 you understood that there were potentially customers out there with knowledge 151 00:06:05,390 --> 00:06:07,010 you had that could help them. 152 00:06:07,220 --> 00:06:08,210 How did you develop, 153 00:06:08,210 --> 00:06:10,010 what were the first things you did to start the project? 154 00:06:10,010 --> 00:06:14,590 Both. I started with a couple of folks that agreed to 155 00:06:14,590 --> 00:06:15,100 be my Guinea pig, 156 00:06:16,210 --> 00:06:17,440 Which is a great way to start. 157 00:06:17,440 --> 00:06:20,080 Right. Just to start getting a little bit of traction going 158 00:06:20,080 --> 00:06:20,950 with your business. 159 00:06:21,280 --> 00:06:25,090 Yeah. So I connected really with some great ladies in the 160 00:06:25,090 --> 00:06:29,050 candle business and some in the consumables and said, 161 00:06:29,050 --> 00:06:29,560 Hey, you know, 162 00:06:29,560 --> 00:06:33,670 I think this bull could be really helpful for you and 163 00:06:33,670 --> 00:06:34,330 the candle business. 164 00:06:34,330 --> 00:06:36,400 You've got to figure out how much wax do I need 165 00:06:36,400 --> 00:06:39,010 for how much fragrance oil do I need in each candle? 166 00:06:39,280 --> 00:06:40,630 And if that's all happening, 167 00:06:40,630 --> 00:06:41,890 how much do I need to order? 168 00:06:42,160 --> 00:06:43,180 And at what point in time, 169 00:06:43,180 --> 00:06:45,520 because you've got to work with lead times and all that 170 00:06:45,520 --> 00:06:47,350 sort of fun stuff and deliveries. 171 00:06:47,740 --> 00:06:50,080 So she walked me through her process and I said, 172 00:06:50,080 --> 00:06:51,010 okay, great. 173 00:06:51,340 --> 00:06:54,700 I have an understanding of what's working well and what's not. 174 00:06:54,880 --> 00:06:57,130 Let me pull together a tool that I think could be 175 00:06:57,130 --> 00:06:58,120 really helpful for you. 176 00:06:58,330 --> 00:07:02,890 And so it started out as a pretty simple inventory ordering 177 00:07:03,250 --> 00:07:08,050 template, and we figured out how much wax and scented fragrance 178 00:07:08,050 --> 00:07:10,390 she needed because she does a lot of events. 179 00:07:10,420 --> 00:07:13,180 So a lot of farmer's markets and traveling for other events 180 00:07:13,180 --> 00:07:13,900 and things like that. 181 00:07:14,170 --> 00:07:17,020 So she could all at once put in how much she 182 00:07:17,020 --> 00:07:19,420 thought she was going to sell of each fragrance. 183 00:07:19,630 --> 00:07:21,820 And then flip that around to see, 184 00:07:21,820 --> 00:07:22,090 all right, 185 00:07:22,090 --> 00:07:23,830 I need to order this much wax, 186 00:07:23,860 --> 00:07:24,760 this much oil, 187 00:07:24,940 --> 00:07:26,650 this many wicks and everything else, 188 00:07:26,650 --> 00:07:29,230 jars, to be able to support that event. 189 00:07:29,230 --> 00:07:30,880 That's coming up in four weeks. 190 00:07:31,810 --> 00:07:32,080 All right. 191 00:07:32,080 --> 00:07:34,030 So first I just have to say, 192 00:07:34,030 --> 00:07:34,930 as an aside, 193 00:07:35,140 --> 00:07:38,380 you totally sparked my interest and excitement because you're talking candles. 194 00:07:38,860 --> 00:07:40,540 One of my favorite things, 195 00:07:41,170 --> 00:07:45,340 interesting that you kind of walked the path with her to 196 00:07:45,340 --> 00:07:46,780 see what she was already doing. 197 00:07:46,780 --> 00:07:48,610 And then you saw areas of development. 198 00:07:48,610 --> 00:07:51,130 I think that's the way you approach all your clients, 199 00:07:51,130 --> 00:07:54,190 right? You see where like get a baseline and then figure 200 00:07:54,190 --> 00:07:54,640 out from there, 201 00:07:54,640 --> 00:07:58,270 how you can enhance the business and get the supply management 202 00:07:58,270 --> 00:07:58,840 going well. 203 00:07:58,840 --> 00:07:59,920 Right? Absolutely. 204 00:07:59,920 --> 00:08:01,390 That was definitely the start. 205 00:08:01,450 --> 00:08:04,960 And now that I've been helping several clients along the way, 206 00:08:04,960 --> 00:08:07,030 I'm starting to see a lot of similarities. 207 00:08:07,060 --> 00:08:11,140 So while pieces of the process do tweak a little bit 208 00:08:11,140 --> 00:08:12,340 based on their product, 209 00:08:12,580 --> 00:08:15,490 a lot of the core baseline is the same. 210 00:08:15,520 --> 00:08:19,540 So now we have a very streamlined approach as to all 211 00:08:19,540 --> 00:08:21,370 right. Here's what I need to look for. 212 00:08:21,400 --> 00:08:24,190 These are the major call-outs I've seen in other clients. 213 00:08:24,400 --> 00:08:26,890 And then what are those custom pieces that we do need 214 00:08:26,890 --> 00:08:28,810 to tailor specifically for their business? 215 00:08:28,810 --> 00:08:31,090 And so it models all of that together. 216 00:08:31,360 --> 00:08:31,960 Perfect. Perfect. 217 00:08:32,170 --> 00:08:34,810 Can you share with us some of the common challenges that 218 00:08:34,810 --> 00:08:37,240 you're seeing because I'm guessing a lot of our listeners are 219 00:08:37,240 --> 00:08:38,050 going to be able to say, 220 00:08:38,050 --> 00:08:38,920 yep, that's me. 221 00:08:40,690 --> 00:08:44,110 Absolutely. I'll say the one that hits home the most is 222 00:08:44,110 --> 00:08:48,670 probably cashflow because here you are trying to get your product 223 00:08:48,700 --> 00:08:51,850 out to the market and you're not sure how much to 224 00:08:51,850 --> 00:08:54,610 order, and you're also have limited funds. 225 00:08:54,610 --> 00:08:55,030 Typically, I, 226 00:08:55,140 --> 00:08:57,960 you can't just order three year's worth of inventory and sit 227 00:08:57,960 --> 00:08:58,590 for awhile. 228 00:08:58,830 --> 00:09:01,770 So cashflow is a big one on how much have you 229 00:09:01,770 --> 00:09:04,440 already spent how much inventory is sitting on your shelves, 230 00:09:04,470 --> 00:09:06,120 that's cash that's already spent. 231 00:09:06,420 --> 00:09:08,940 And then how much do you think you're going to need 232 00:09:08,940 --> 00:09:10,830 to service your customers? 233 00:09:10,830 --> 00:09:13,170 Well, over the course of the next few months, 234 00:09:13,410 --> 00:09:17,610 so cashflow really ties straight back into inventory. 235 00:09:17,960 --> 00:09:19,970 I'm guessing the goal here would be, 236 00:09:20,120 --> 00:09:22,670 you don't want to buy more than you really need for 237 00:09:22,670 --> 00:09:23,840 a certain amount of time, 238 00:09:23,870 --> 00:09:26,240 then you continually cycle and replenish, 239 00:09:26,240 --> 00:09:26,720 right? And that, 240 00:09:26,720 --> 00:09:29,570 and that replenishment gets to be more and more as your 241 00:09:29,570 --> 00:09:30,350 business grows. 242 00:09:30,860 --> 00:09:34,490 Absolutely. So one of the other top challenges we see is 243 00:09:34,550 --> 00:09:37,880 how much to anticipate for your future sales, 244 00:09:38,090 --> 00:09:40,910 because that is going to dictate how much inventory you need 245 00:09:40,910 --> 00:09:41,270 to buy. 246 00:09:41,270 --> 00:09:43,580 So you're not necessarily buying for tomorrow. 247 00:09:43,580 --> 00:09:47,060 You're buying for a few months from now sometimes depending on 248 00:09:47,060 --> 00:09:48,410 where your product's coming from. 249 00:09:48,650 --> 00:09:50,810 If you have to order from Asia, 250 00:09:50,810 --> 00:09:52,310 then it's going to be several months. 251 00:09:52,370 --> 00:09:53,600 If you're making it yourself, 252 00:09:53,630 --> 00:09:56,960 then you've got the limitations on how much time you can 253 00:09:56,990 --> 00:10:00,380 dedicate to being able to produce enough product for what's coming 254 00:10:00,380 --> 00:10:03,740 up. So being able to pull that together is definitely an 255 00:10:03,740 --> 00:10:05,600 area. So as a top challenge, 256 00:10:06,050 --> 00:10:07,940 And I bet that's different for everybody. 257 00:10:07,940 --> 00:10:08,120 I mean, 258 00:10:08,120 --> 00:10:11,330 I'm thinking of myself over here with one of my businesses, 259 00:10:11,330 --> 00:10:12,440 the ribbon print company, 260 00:10:12,620 --> 00:10:14,510 I do make my own brand of ribbon. 261 00:10:14,570 --> 00:10:16,790 And it does come from Asia. 262 00:10:16,910 --> 00:10:20,270 And not only is there the time to produce it, 263 00:10:20,270 --> 00:10:20,660 but that, 264 00:10:20,660 --> 00:10:22,040 and the time to get it over, 265 00:10:22,040 --> 00:10:24,590 it could get stuck in customs for awhile. 266 00:10:24,630 --> 00:10:26,000 Like all of that stuff, 267 00:10:26,000 --> 00:10:27,920 you have to kind of figure out, 268 00:10:27,950 --> 00:10:31,820 right? Plus minimum order quantities that you have to, 269 00:10:32,180 --> 00:10:33,830 Yes, you may only want a hundred, 270 00:10:33,830 --> 00:10:35,510 but the minimum order is a thousand. 271 00:10:35,510 --> 00:10:36,380 So now what do you do? 272 00:10:36,830 --> 00:10:38,780 Right? Or as you order more, 273 00:10:38,780 --> 00:10:40,520 your cost can also go down. 274 00:10:40,550 --> 00:10:44,140 So those are all different things I think are very customized 275 00:10:44,150 --> 00:10:46,370 based on each of your individual clients. 276 00:10:46,820 --> 00:10:48,980 Absolutely. Interesting. 277 00:10:49,040 --> 00:10:50,720 Okay. Can you give us another, 278 00:10:51,020 --> 00:10:52,610 so we've talked about cash flow. 279 00:10:52,700 --> 00:10:54,770 We've talked about anticipated sales. 280 00:10:54,770 --> 00:10:57,620 Wait, I do have another question with the anticipated sales. 281 00:10:57,860 --> 00:11:01,130 When somebody like you were just talking about your client who 282 00:11:01,130 --> 00:11:02,060 had events. 283 00:11:02,120 --> 00:11:04,280 So when you have events lined up, 284 00:11:04,310 --> 00:11:06,350 then obviously you're going to be selling more. 285 00:11:06,410 --> 00:11:10,790 So I'm thinking you flex everything based on what the plans 286 00:11:10,790 --> 00:11:13,160 are in the future and the growth of the company based 287 00:11:13,160 --> 00:11:13,610 on events. 288 00:11:13,610 --> 00:11:14,570 You're going to, 289 00:11:14,660 --> 00:11:14,990 I guess, 290 00:11:14,990 --> 00:11:16,610 just general overall trends, 291 00:11:16,610 --> 00:11:17,270 et cetera. 292 00:11:17,660 --> 00:11:19,310 Absolutely. That has been a challenge, 293 00:11:19,370 --> 00:11:21,800 especially for that person that I worked with early on, 294 00:11:21,800 --> 00:11:25,250 because she has not only an online business, 295 00:11:25,250 --> 00:11:27,920 but she also has the event business. 296 00:11:28,010 --> 00:11:29,810 She still has a couple of products on Etsy. 297 00:11:29,810 --> 00:11:33,350 So she's got several platforms that are continuous and you can 298 00:11:33,350 --> 00:11:35,030 have orders coming in all the time. 299 00:11:35,240 --> 00:11:38,360 But then that event could be several thousand dollars in a 300 00:11:38,360 --> 00:11:41,120 weekend. And you want to maximize as much as you can 301 00:11:41,180 --> 00:11:42,020 through that event. 302 00:11:42,260 --> 00:11:46,130 So we had to look at not only the event piece, 303 00:11:46,160 --> 00:11:47,330 but also all right, 304 00:11:47,330 --> 00:11:49,460 we've got to remember that you can have orders coming in 305 00:11:49,460 --> 00:11:51,740 every day on your website and Etsy. 306 00:11:51,950 --> 00:11:53,980 How do we manage them as well? 307 00:11:54,220 --> 00:11:57,520 And so that has been kind of a blended approach. 308 00:11:57,580 --> 00:12:01,030 So you also don't want to carry too much inventory at 309 00:12:01,030 --> 00:12:01,330 a time, 310 00:12:01,330 --> 00:12:02,500 especially candles. 311 00:12:02,530 --> 00:12:02,680 I mean, 312 00:12:02,680 --> 00:12:04,210 you can have so many fragrances. 313 00:12:04,420 --> 00:12:06,490 We did tailor those down a little bit, 314 00:12:06,490 --> 00:12:09,820 so that helped her with reducing her inventory or to at 315 00:12:09,820 --> 00:12:12,610 least have different fragrances available at different seasons. 316 00:12:12,610 --> 00:12:15,010 So you don't need every fragrance available 12 months out of 317 00:12:15,010 --> 00:12:15,490 the year. 318 00:12:15,550 --> 00:12:16,660 You can have your spring, 319 00:12:16,660 --> 00:12:17,490 you can have your summer, 320 00:12:17,500 --> 00:12:21,220 you can have your fall winter and by eliminating some of 321 00:12:21,220 --> 00:12:24,670 those options that allowed her to really focus on, 322 00:12:24,700 --> 00:12:27,700 alright, I'm going to make these 10 for the season. 323 00:12:27,790 --> 00:12:30,520 And so when she's doing her event prep, 324 00:12:30,580 --> 00:12:33,010 she can also go ahead and prep for all right, 325 00:12:33,040 --> 00:12:34,210 the next two weeks, 326 00:12:34,210 --> 00:12:37,840 I think I'm going to have this many in daffodil. 327 00:12:38,170 --> 00:12:40,480 I'm making up a fragrance here that could be ordered from 328 00:12:40,480 --> 00:12:42,970 the website or Etsy over the time period. 329 00:12:42,970 --> 00:12:47,680 So she started being able to batch process things together based 330 00:12:47,680 --> 00:12:49,720 on what was coming up in her business. 331 00:12:50,130 --> 00:12:53,280 I'm so glad you bring up this topic because I've talked 332 00:12:53,280 --> 00:12:57,600 a lot in the past about limiting the number of offers 333 00:12:57,600 --> 00:12:58,140 you have, 334 00:12:58,140 --> 00:13:01,050 whether it's flavors or scents or whatever, 335 00:13:01,080 --> 00:13:03,750 because it can become overwhelming to somebody. 336 00:13:03,810 --> 00:13:05,550 Even let's take it a craft show. 337 00:13:05,550 --> 00:13:06,600 Since we're talking to events, 338 00:13:06,910 --> 00:13:09,630 people will come up and if there are too many options, 339 00:13:09,660 --> 00:13:12,270 sometimes people get overwhelmed and they walk away. 340 00:13:12,570 --> 00:13:13,860 You would naturally think, 341 00:13:13,860 --> 00:13:16,680 well, if I have more offers more options, 342 00:13:16,740 --> 00:13:18,330 then there's going to be something for everybody. 343 00:13:18,330 --> 00:13:20,340 And people are more likely to buy. 344 00:13:20,370 --> 00:13:23,760 And actually that's not true when you whittle it back, 345 00:13:23,820 --> 00:13:26,910 it's easier for people to make decisions and to purchase. 346 00:13:26,910 --> 00:13:28,620 That's been proven over and over again, 347 00:13:28,860 --> 00:13:32,460 but I never thought about it really in terms of inventory 348 00:13:32,460 --> 00:13:36,900 control and purchasing of the materials that you need to create 349 00:13:36,900 --> 00:13:37,590 your product. 350 00:13:37,590 --> 00:13:40,140 So this is a really important point. 351 00:13:40,380 --> 00:13:44,100 What did your clients see after you instituted this procedure? 352 00:13:44,790 --> 00:13:48,360 Well, she was able to minimize how much inventory she was 353 00:13:48,360 --> 00:13:50,730 keeping, and then she's working out of her home still. 354 00:13:50,940 --> 00:13:53,550 So the closet can only hold so many candles. 355 00:13:54,000 --> 00:13:56,280 Right. Although I could help her out with that, 356 00:13:56,280 --> 00:13:58,890 FYI I'll let her know. 357 00:13:59,100 --> 00:14:03,570 Okay. And then the other piece was it's either that she 358 00:14:03,570 --> 00:14:05,970 houses a little bit of inventory in her closet, 359 00:14:06,000 --> 00:14:09,000 or she's got to stay up late one night and actually 360 00:14:09,000 --> 00:14:12,240 make the candle to the order that day and make sure 361 00:14:12,240 --> 00:14:14,070 it ships out in the two to three day window that 362 00:14:14,070 --> 00:14:15,300 she's promised the customer, 363 00:14:15,450 --> 00:14:16,410 which got really frustrating. 364 00:14:16,410 --> 00:14:19,710 She had a really good example in time of she stocks 365 00:14:19,770 --> 00:14:22,590 a lot of this 1 cent and she has a standard 366 00:14:22,590 --> 00:14:24,000 eight ounce candle. 367 00:14:24,030 --> 00:14:28,200 Well, someone on Etsy wanted a four ounce of a very 368 00:14:28,200 --> 00:14:30,510 minimal quantity that she would typically have for another candle. 369 00:14:30,510 --> 00:14:32,520 So she had to stay up late and make this little 370 00:14:32,520 --> 00:14:35,160 tiny four ounce candle and ship it to the customer. 371 00:14:35,430 --> 00:14:37,980 And so stuff like that started to go away. 372 00:14:38,040 --> 00:14:42,690 Once we trimmed down how many fragrances she was offering at 373 00:14:42,690 --> 00:14:43,230 that time. 374 00:14:43,260 --> 00:14:45,090 And so she could not only, 375 00:14:45,300 --> 00:14:45,510 I mean, 376 00:14:45,510 --> 00:14:49,110 she still might have to make a fresh batch when something 377 00:14:49,110 --> 00:14:49,710 goes out, 378 00:14:49,740 --> 00:14:51,800 but she knows she can make eight a time. 379 00:14:52,100 --> 00:14:54,770 And those will sell over the course of the next few 380 00:14:54,770 --> 00:14:58,310 weeks. She doesn't have to make these very small batches and 381 00:14:58,310 --> 00:15:01,220 then almost waste her time making just a single four ounce 382 00:15:01,220 --> 00:15:04,840 candle. I think so many of our listeners are sitting there 383 00:15:04,840 --> 00:15:05,530 like, yup. 384 00:15:05,920 --> 00:15:07,030 I know life, 385 00:15:07,060 --> 00:15:09,190 because this is what I do. 386 00:15:09,460 --> 00:15:10,540 I think with your story, 387 00:15:10,540 --> 00:15:14,290 she gained back the freedom to not have those last minute 388 00:15:14,440 --> 00:15:15,430 issues all the time. 389 00:15:15,430 --> 00:15:18,280 Because what if something does come in and you had a 390 00:15:18,280 --> 00:15:20,440 big family event you're going away for the weekend, 391 00:15:20,650 --> 00:15:23,140 how would you possibly juggle things like that? 392 00:15:23,230 --> 00:15:27,430 So I think your service actually brings back some balance into 393 00:15:27,430 --> 00:15:28,570 your whole life too, 394 00:15:28,570 --> 00:15:31,690 especially if you're still producing yourself out of your home. 395 00:15:32,020 --> 00:15:33,250 So was she calling you saying, 396 00:15:33,250 --> 00:15:33,520 thank you. 397 00:15:33,520 --> 00:15:33,850 Thank you. 398 00:15:33,850 --> 00:15:34,300 Thank you. 399 00:15:35,710 --> 00:15:37,060 Yes. She's been wonderful. 400 00:15:37,150 --> 00:15:37,690 Like I said, 401 00:15:37,690 --> 00:15:38,890 she was one of my Guinea pigs, 402 00:15:38,890 --> 00:15:42,520 so we've done a lot of trials through her and found 403 00:15:42,520 --> 00:15:44,830 out what works for her and then tried to see if 404 00:15:44,830 --> 00:15:47,830 we could spread that across some other industries as well. 405 00:15:48,160 --> 00:15:48,730 Got it. 406 00:15:48,910 --> 00:15:51,610 So we've been talking about the challenges with inventory. 407 00:15:51,610 --> 00:15:53,290 So we've talked cash flow. 408 00:15:53,290 --> 00:15:55,450 We've talked about anticipated sales. 409 00:15:55,720 --> 00:15:57,790 Is there now another one that you could share with us, 410 00:15:58,360 --> 00:16:03,130 I would say focus on your lead times and for people 411 00:16:03,130 --> 00:16:06,490 that aren't necessarily familiar with that that is how long it 412 00:16:06,490 --> 00:16:10,390 takes you from knowing what you want to make to when 413 00:16:10,390 --> 00:16:12,340 it is shippable from your, 414 00:16:12,370 --> 00:16:13,960 either your home or your, 415 00:16:14,020 --> 00:16:16,030 if you have a distribution center or warehouse, 416 00:16:16,240 --> 00:16:18,340 you want to know how long it takes that product to 417 00:16:18,340 --> 00:16:20,020 be created and shippable. 418 00:16:20,290 --> 00:16:21,880 And there's two versions. 419 00:16:21,880 --> 00:16:22,900 You could have that internal. 420 00:16:22,900 --> 00:16:25,810 So that's how long you actually take to create the product. 421 00:16:26,020 --> 00:16:28,480 So if you are stay with candles, 422 00:16:28,720 --> 00:16:32,710 if it takes you several hours to produce a candle and 423 00:16:32,710 --> 00:16:35,560 then it actually takes several more hours for it to dry 424 00:16:35,560 --> 00:16:36,160 and cure, 425 00:16:36,250 --> 00:16:39,970 then you may have a 24 hour lead time for that 426 00:16:39,970 --> 00:16:42,490 candle. So you need to know that at any point in 427 00:16:42,490 --> 00:16:43,780 time, if you get orders, 428 00:16:43,780 --> 00:16:47,230 you've got to have at least 24 hours to be able 429 00:16:47,230 --> 00:16:47,830 to get that out. 430 00:16:48,100 --> 00:16:51,580 The other piece of the lead time that I find folks 431 00:16:51,580 --> 00:16:54,640 often forget about is how long it takes their supplies to 432 00:16:54,640 --> 00:16:55,300 get to them. 433 00:16:55,570 --> 00:16:58,120 So if you are ordering from Asia and it's a four 434 00:16:58,120 --> 00:17:00,400 month process from the time you place your order, 435 00:17:00,400 --> 00:17:01,930 until it arrives at your doorstep, 436 00:17:01,960 --> 00:17:05,670 pending minimal issues with customs or damage on the boat and 437 00:17:05,670 --> 00:17:06,220 things like that, 438 00:17:06,220 --> 00:17:06,800 that do come up, 439 00:17:06,820 --> 00:17:08,200 but it should be more rare. 440 00:17:08,410 --> 00:17:10,300 You do need to think about how long it takes you 441 00:17:10,300 --> 00:17:11,200 to get your supplies, 442 00:17:11,230 --> 00:17:14,320 because I'll find that folks try to order or they'll expedite 443 00:17:14,320 --> 00:17:15,460 at the very last minute. 444 00:17:15,460 --> 00:17:18,370 And then they're upset because it's another three days late. 445 00:17:18,370 --> 00:17:22,210 Well, three days late in the world of supplies actually is 446 00:17:22,210 --> 00:17:24,220 not too uncommon. 447 00:17:24,250 --> 00:17:26,770 So you need to be able to have that lead time 448 00:17:26,770 --> 00:17:28,960 and then a little bit of buffer as well, 449 00:17:28,990 --> 00:17:31,750 so that you can continue to support your business. 450 00:17:31,870 --> 00:17:34,870 And there's no stop starts because you're waiting on your supplies 451 00:17:34,870 --> 00:17:35,380 to come in, 452 00:17:35,380 --> 00:17:36,550 to create your product. 453 00:17:36,940 --> 00:17:39,760 Two things about this that I think are important. 454 00:17:39,760 --> 00:17:44,620 One is that word expedite totally freaks me out because that 455 00:17:44,620 --> 00:17:48,880 possibly means more costs to get your product to you in 456 00:17:48,900 --> 00:17:49,710 additional costs, 457 00:17:49,740 --> 00:17:52,740 probably wasn't included in the pricing of your product to start, 458 00:17:52,770 --> 00:17:54,810 which means your margins are going to decrease. 459 00:17:55,200 --> 00:17:58,920 Absolutely. That goes back and circles back to cashflow. 460 00:17:58,980 --> 00:18:01,140 But I'm thinking all that you're talking about here, 461 00:18:01,140 --> 00:18:02,400 lane, all circles, 462 00:18:02,400 --> 00:18:03,690 back to the same thing, 463 00:18:03,930 --> 00:18:07,560 they're all integrated to have the best result you can. 464 00:18:07,940 --> 00:18:11,840 Right. And what you mentioned actually brought up another thought experience 465 00:18:11,840 --> 00:18:14,390 I had with another client who is in the book publishing 466 00:18:14,390 --> 00:18:18,200 business. Before we hear about lanes of book publishing client, 467 00:18:18,380 --> 00:18:19,820 a quick word from our sponsor, 468 00:18:21,080 --> 00:18:22,820 This podcast is made possible. 469 00:18:22,850 --> 00:18:25,340 Thanks to the support at the ribbon print company, 470 00:18:25,520 --> 00:18:26,810 create custom ribbons, 471 00:18:26,810 --> 00:18:29,570 right in your store or craft studio in seconds, 472 00:18:29,720 --> 00:18:32,030 visit the ribbon print company.com 473 00:18:32,030 --> 00:18:33,110 for more information, 474 00:18:34,130 --> 00:18:38,420 He had someone in the States that was printing her books, 475 00:18:38,450 --> 00:18:40,670 but she was also starting to look at someone in Asia 476 00:18:40,700 --> 00:18:43,250 who had a much better pricing. 477 00:18:43,580 --> 00:18:46,520 So not to jump from one and go to the other. 478 00:18:46,520 --> 00:18:49,940 But we had a time period where we were testing both 479 00:18:50,090 --> 00:18:52,820 and we wanted to make sure that they could meet their 480 00:18:52,820 --> 00:18:54,770 expectations. If they said they were going to be here in 481 00:18:54,770 --> 00:18:55,340 12 weeks, 482 00:18:55,340 --> 00:18:56,720 that they were here in 12 weeks, 483 00:18:56,960 --> 00:18:59,810 that the quality was the same that we didn't have to 484 00:18:59,810 --> 00:19:01,040 expedite orders. 485 00:19:01,310 --> 00:19:04,460 There weren't any other hidden shipping costs because it might be 486 00:19:04,460 --> 00:19:05,990 one thing to produce, 487 00:19:06,080 --> 00:19:08,360 seem like it's half price to produce in Asia. 488 00:19:08,390 --> 00:19:10,280 But then you also have to think about, 489 00:19:10,280 --> 00:19:12,740 well, the extra shipping charges that would incur. 490 00:19:12,950 --> 00:19:16,850 So we had this testing period and then found that Asia 491 00:19:16,850 --> 00:19:20,090 actually produced higher quality for the type of book that she 492 00:19:20,090 --> 00:19:23,270 had. And they were able to deliver on time. 493 00:19:23,360 --> 00:19:27,500 And she actually had tremendous cost savings from being able to 494 00:19:27,500 --> 00:19:30,590 move her products and being able to print overseas. 495 00:19:30,800 --> 00:19:34,400 So that was one area where she was able to dramatically 496 00:19:34,400 --> 00:19:36,890 reduce her cost of her goods. 497 00:19:37,220 --> 00:19:40,010 And as you are doing that, 498 00:19:40,010 --> 00:19:41,480 that allows different opportunities. 499 00:19:41,480 --> 00:19:44,060 So you think about kind of the backend cost savings, 500 00:19:44,270 --> 00:19:46,940 but now you have funds to put on the front end. 501 00:19:46,940 --> 00:19:50,210 Now you have funds for marketing and advertising because you've been 502 00:19:50,210 --> 00:19:51,410 able to save in that area. 503 00:19:51,410 --> 00:19:54,170 Now you can increase your spending in other areas, 504 00:19:54,170 --> 00:19:57,950 what should just continue that cycle of more exposure and more 505 00:19:57,950 --> 00:19:59,000 sales Yeah. 506 00:19:59,030 --> 00:19:59,870 Driving sales, 507 00:19:59,870 --> 00:20:00,560 for sure. 508 00:20:01,010 --> 00:20:02,900 And so it's an entire balancing act, 509 00:20:02,900 --> 00:20:07,010 right? I'm thinking of the old fashion weight pendulums where there's 510 00:20:07,010 --> 00:20:08,300 one side and another. 511 00:20:08,510 --> 00:20:10,760 That's exactly what you're talking about here. 512 00:20:11,090 --> 00:20:14,570 And the issue too is sales fulfillment. 513 00:20:14,570 --> 00:20:16,790 Because if you don't have the product, 514 00:20:16,790 --> 00:20:18,110 when an order comes in, 515 00:20:18,140 --> 00:20:20,000 it's not going to take too long for that customer, 516 00:20:20,000 --> 00:20:21,230 never to come back to you. 517 00:20:21,650 --> 00:20:24,830 So you've got to have it available if you're promoting it 518 00:20:24,830 --> 00:20:25,430 as well. 519 00:20:25,850 --> 00:20:27,500 The other thing I was going to say about Asia, 520 00:20:27,500 --> 00:20:30,770 I don't want to scare people off because I also have 521 00:20:30,770 --> 00:20:31,870 other products coming. 522 00:20:31,910 --> 00:20:33,830 We source as much American as we can, 523 00:20:33,830 --> 00:20:36,230 but I have other products that come from Asia and I 524 00:20:36,230 --> 00:20:37,490 get them in like two days. 525 00:20:37,490 --> 00:20:40,490 Sometimes I get them faster than in the States. 526 00:20:40,520 --> 00:20:42,740 It really all depends on what your product is, 527 00:20:42,860 --> 00:20:45,770 where your factory is or who you're working with in terms 528 00:20:45,770 --> 00:20:46,280 of receipts. 529 00:20:46,280 --> 00:20:49,390 So don't be scared away from this conversation in terms of 530 00:20:49,390 --> 00:20:50,050 dealing with it, 531 00:20:50,050 --> 00:20:52,990 because clearly that client you're talking about with the books, 532 00:20:53,020 --> 00:20:55,060 that was a perfect solution for her. 533 00:20:55,800 --> 00:20:56,670 Yeah. And sometimes, 534 00:20:56,670 --> 00:20:57,060 I mean, 535 00:20:57,450 --> 00:21:02,430 truthfully, the expertise may sometimes be moving from us to overseas. 536 00:21:02,430 --> 00:21:04,800 So it really depends on the manufacturer. 537 00:21:04,800 --> 00:21:05,240 Just like it, 538 00:21:05,240 --> 00:21:06,900 it depends on the manufacturer here. 539 00:21:06,900 --> 00:21:10,410 Some are going to be more tighter on their processes and 540 00:21:10,440 --> 00:21:13,470 better on quality and you'll find the same overseas. 541 00:21:13,560 --> 00:21:16,230 So you just got to find the right person, 542 00:21:16,260 --> 00:21:17,820 right. Manufacturer to work with. 543 00:21:18,030 --> 00:21:19,080 Right. Okay. 544 00:21:19,080 --> 00:21:23,370 Wonderful. So we've covered cashflow anticipated sales so that you're ready 545 00:21:23,370 --> 00:21:23,850 for them, 546 00:21:23,850 --> 00:21:27,300 both in creating and being able to have the product ready 547 00:21:27,300 --> 00:21:28,200 and inventory. 548 00:21:28,410 --> 00:21:30,330 We've talked about lead times, 549 00:21:30,360 --> 00:21:34,080 both in pricing for production time and then also supplies. 550 00:21:34,110 --> 00:21:36,660 And then we've talked a little bit about management too, 551 00:21:36,960 --> 00:21:40,740 if someone is way before all of that. 552 00:21:40,770 --> 00:21:43,140 Okay. Cause this is all talking about someone who has a 553 00:21:43,140 --> 00:21:44,880 product they're out to market already. 554 00:21:45,030 --> 00:21:48,240 What advice would you give somebody who's just starting. 555 00:21:48,600 --> 00:21:51,450 So they're just now starting to make their product, 556 00:21:51,480 --> 00:21:54,360 bring it out to shows so that they're at a perfect 557 00:21:54,360 --> 00:21:57,930 place where they can do it right from the start instead 558 00:21:57,930 --> 00:22:00,270 of back-filling better systems. 559 00:22:00,540 --> 00:22:03,450 Is there any guidance you have for someone who's just starting 560 00:22:03,450 --> 00:22:05,580 out what they should put in place or what they should 561 00:22:05,580 --> 00:22:08,250 be looking at at different points along the way for a 562 00:22:08,250 --> 00:22:09,930 startup? Absolutely. 563 00:22:09,930 --> 00:22:13,980 Yes. I feel like startups tend to focus on how much 564 00:22:13,980 --> 00:22:15,810 should I bring to the event or how much should I 565 00:22:15,810 --> 00:22:19,050 make and you really to take it just one step backwards 566 00:22:19,110 --> 00:22:19,920 and say, 567 00:22:19,980 --> 00:22:21,840 how much do I think I can sell? 568 00:22:21,900 --> 00:22:22,800 Not how much to bring, 569 00:22:22,850 --> 00:22:24,960 how much do you think you can sell first? 570 00:22:25,170 --> 00:22:28,050 And that is going to come from a lot of times 571 00:22:28,050 --> 00:22:30,180 conversations. A lot of times, 572 00:22:30,210 --> 00:22:33,990 if you are going to an event that has baked goods, 573 00:22:34,020 --> 00:22:37,740 you could talk to someone else that is sometimes they might 574 00:22:37,740 --> 00:22:38,760 be competitive or not, 575 00:22:38,760 --> 00:22:41,400 but you're probably will find someone that is not a competitor 576 00:22:41,400 --> 00:22:43,410 to you there that has been to that event in the 577 00:22:43,410 --> 00:22:45,090 past, ask them what they sell. 578 00:22:45,330 --> 00:22:47,910 Talk to people that have been to that event in the 579 00:22:47,910 --> 00:22:51,630 past. That is a great starting point for you. 580 00:22:51,900 --> 00:22:55,080 And then you can use that and you might want to 581 00:22:55,080 --> 00:22:55,710 go, all right, 582 00:22:55,710 --> 00:22:59,760 maybe another 10 or 20% heavier just because when you're starting 583 00:22:59,760 --> 00:23:01,050 out, like you said before, 584 00:23:01,140 --> 00:23:04,950 so you don't want to miss out on that sells fulfillment. 585 00:23:05,010 --> 00:23:07,890 So you want to have a little bit over what you 586 00:23:07,890 --> 00:23:11,040 need, but not 10 times what you need going into that 587 00:23:11,040 --> 00:23:15,420 event. And so being able to estimate what your sales will 588 00:23:15,420 --> 00:23:17,760 be, and then go just a little bit over that to 589 00:23:17,760 --> 00:23:19,830 be able to maximize your sales at that event. 590 00:23:20,130 --> 00:23:20,850 That's great. 591 00:23:20,940 --> 00:23:21,630 I love, 592 00:23:21,630 --> 00:23:22,920 love, love that advice. 593 00:23:22,950 --> 00:23:25,710 And then I think also just some type of a method 594 00:23:25,740 --> 00:23:28,200 to take information from someone. 595 00:23:28,230 --> 00:23:31,110 If it does happen that you run out of product, 596 00:23:31,140 --> 00:23:33,510 maybe there is a scent we're sticking with the candles here, 597 00:23:34,230 --> 00:23:34,950 my favorite, 598 00:23:34,950 --> 00:23:38,820 but let's say those daffodil candles that you were referencing earlier, 599 00:23:38,940 --> 00:23:40,410 you just happened to run out. 600 00:23:40,710 --> 00:23:43,320 I would think you tell me if you think differently, 601 00:23:43,320 --> 00:23:45,030 but I would think just having a system to, 602 00:23:45,350 --> 00:23:45,710 Oh gosh, 603 00:23:45,710 --> 00:23:46,790 they were so popular. 604 00:23:46,790 --> 00:23:48,410 I wasn't anticipating that. 605 00:23:48,440 --> 00:23:51,200 However, I can get you one in two or three days, 606 00:23:51,230 --> 00:23:52,250 what's your address. 607 00:23:52,310 --> 00:23:54,800 And even take the order right there and then turn it 608 00:23:54,800 --> 00:23:56,210 around for them super quick. 609 00:23:56,390 --> 00:23:58,190 But to have that plan in place, 610 00:23:58,220 --> 00:23:59,990 instead of just losing the sale, 611 00:23:59,990 --> 00:24:01,780 I guess I'd say Absolutely. 612 00:24:01,780 --> 00:24:04,210 I've seen that happen kind of in two different ways. 613 00:24:04,210 --> 00:24:06,010 I've seen just a simple sheet of paper. 614 00:24:06,160 --> 00:24:07,720 Hey, you like this candle, 615 00:24:07,720 --> 00:24:10,000 I'd be happy to get back with you when I get 616 00:24:10,000 --> 00:24:13,990 back home and just write down your name and your address 617 00:24:13,990 --> 00:24:16,180 or name a number and what you were looking for, 618 00:24:16,180 --> 00:24:17,200 what size did you want? 619 00:24:17,200 --> 00:24:18,010 What fragrance. 620 00:24:18,280 --> 00:24:20,800 And then some folks will actually have, 621 00:24:20,860 --> 00:24:23,230 like the lady I mentioned has a website. 622 00:24:23,230 --> 00:24:24,610 So bring your iPad, 623 00:24:24,670 --> 00:24:27,910 let them order the candle right there on the spot. 624 00:24:28,180 --> 00:24:30,160 They can enter it in the website, 625 00:24:30,160 --> 00:24:30,940 on the iPad. 626 00:24:30,970 --> 00:24:33,940 And then you've got that order ready to run with. 627 00:24:33,940 --> 00:24:35,440 As soon as you get back from the event. 628 00:24:35,770 --> 00:24:36,700 So Smart lane, 629 00:24:36,730 --> 00:24:37,240 I agree. 630 00:24:37,240 --> 00:24:38,740 Take the order right then and there. 631 00:24:39,040 --> 00:24:40,720 And the trick is having the plan, 632 00:24:40,720 --> 00:24:42,760 having the answer right there. 633 00:24:42,760 --> 00:24:45,280 So you're not fumbling and not knowing what to do. 634 00:24:45,400 --> 00:24:46,540 You have the plan. 635 00:24:46,870 --> 00:24:48,940 Okay. Perishable products, 636 00:24:48,970 --> 00:24:51,040 probably the most challenging of all. 637 00:24:51,070 --> 00:24:53,260 And we've talked about this a little bit already, 638 00:24:53,260 --> 00:24:54,580 but not in this way. 639 00:24:54,880 --> 00:24:56,740 Any advice for that? 640 00:24:56,740 --> 00:24:58,870 Because ingredients with that, 641 00:24:58,870 --> 00:25:01,750 or if you actually make your cookies or your cupcakes and 642 00:25:01,750 --> 00:25:04,480 you bring them to the event and you don't sell them, 643 00:25:04,510 --> 00:25:05,920 that is lost money. 644 00:25:06,280 --> 00:25:06,880 So what do you do? 645 00:25:07,630 --> 00:25:10,480 Right. So unless you're planning on having a big party afterwards 646 00:25:10,840 --> 00:25:11,950 with all of your cupcakes, 647 00:25:12,040 --> 00:25:12,340 Oh, well, 648 00:25:12,340 --> 00:25:13,030 there's an idea. 649 00:25:14,560 --> 00:25:15,580 It's always a win there. 650 00:25:15,580 --> 00:25:16,420 Right? Right. 651 00:25:16,930 --> 00:25:17,650 That's one. 652 00:25:17,680 --> 00:25:21,310 Where do you have another outlet that this product can go 653 00:25:21,310 --> 00:25:24,460 to? So maybe you are selling at a local bakery, 654 00:25:24,520 --> 00:25:26,770 but then you also have this event coming up, 655 00:25:27,010 --> 00:25:30,670 trying to have multiple streams of where your product can go 656 00:25:30,670 --> 00:25:32,770 will be very helpful as well. 657 00:25:32,770 --> 00:25:35,350 So you're not locked into just this one event. 658 00:25:35,410 --> 00:25:38,290 Oh, I didn't sell all of my mini breads or all 659 00:25:38,290 --> 00:25:39,190 of my cupcakes. 660 00:25:39,310 --> 00:25:41,110 Is there somewhere else that they can go, 661 00:25:41,260 --> 00:25:41,860 but it really, 662 00:25:41,890 --> 00:25:42,790 even better than that, 663 00:25:42,790 --> 00:25:46,420 it comes back to what are your anticipated sales back to 664 00:25:46,420 --> 00:25:47,410 that sales forecast? 665 00:25:47,440 --> 00:25:48,550 What have other people done? 666 00:25:48,580 --> 00:25:49,750 How much do you have? 667 00:25:49,990 --> 00:25:53,890 And then also being able to move it into other streams, 668 00:25:53,950 --> 00:25:56,050 other accounts afterwards, 669 00:25:56,080 --> 00:25:57,310 it will be incredibly helpful. 670 00:25:57,520 --> 00:25:59,110 And then the last piece on that though, 671 00:25:59,110 --> 00:26:01,480 is this is assuming that you are a brand new startup. 672 00:26:01,480 --> 00:26:02,770 You've never done this before, 673 00:26:03,010 --> 00:26:03,610 but now, 674 00:26:03,610 --> 00:26:04,240 you know, 675 00:26:04,660 --> 00:26:06,310 now you've been to this event now, 676 00:26:06,310 --> 00:26:08,050 you know how much you sold now? 677 00:26:08,050 --> 00:26:10,390 You know where the prime location is. 678 00:26:10,420 --> 00:26:11,740 Next time when you come back, 679 00:26:11,740 --> 00:26:13,390 you'll not only have your numbers, 680 00:26:13,420 --> 00:26:15,790 you'll have the experience and you'll have the knowledge of how 681 00:26:15,790 --> 00:26:17,740 to position yourself differently next time. 682 00:26:17,980 --> 00:26:20,710 So one thing I highly encouraged to all of the startups 683 00:26:20,710 --> 00:26:22,780 is to record your sales, 684 00:26:22,840 --> 00:26:25,150 where you were and record any, 685 00:26:25,180 --> 00:26:29,110 just commentary notes of how the event was run and what 686 00:26:29,110 --> 00:26:30,160 you would like to do differently. 687 00:26:30,160 --> 00:26:32,170 Do you want to come back again next year? 688 00:26:32,380 --> 00:26:34,660 Keep up with that because your numbers are going to be 689 00:26:34,660 --> 00:26:37,630 more impactful than anybody else's numbers down the road. 690 00:26:37,930 --> 00:26:40,630 Sue's cupcakes may be very different from Lane's cupcakes. 691 00:26:40,690 --> 00:26:45,030 And so being able to track your numbers going forward is 692 00:26:45,030 --> 00:26:47,010 going to be the most impactful thing you can do for 693 00:26:47,010 --> 00:26:48,720 planning your business going forward. 694 00:26:49,080 --> 00:26:51,290 Yeah. Show to show can be different too. 695 00:26:51,320 --> 00:26:53,270 Some shows will perform better than others. 696 00:26:53,270 --> 00:26:55,250 And when you start doing more and more shows, 697 00:26:55,310 --> 00:26:56,360 you kind of forget. 698 00:26:56,360 --> 00:27:00,080 So tracking it right away after the event is really important. 699 00:27:00,080 --> 00:27:01,520 I'm so glad you brought that up. 700 00:27:01,820 --> 00:27:03,320 Yes. Wonderful. 701 00:27:03,320 --> 00:27:06,650 Okay. Any other thoughts for a startup or you think we're 702 00:27:06,650 --> 00:27:07,100 good here? 703 00:27:07,640 --> 00:27:08,720 The other piece would be, 704 00:27:08,960 --> 00:27:10,520 be careful not to order too much. 705 00:27:11,120 --> 00:27:13,010 I did have a client one time. 706 00:27:13,010 --> 00:27:15,530 She got a great discount if she ordered, 707 00:27:15,650 --> 00:27:19,130 or if she prepped a thousand jars of her product from 708 00:27:19,130 --> 00:27:19,820 the co-packer. 709 00:27:20,180 --> 00:27:23,150 But when she looked at her expiration dates, 710 00:27:23,150 --> 00:27:24,650 how long it could sit on the shelf, 711 00:27:24,800 --> 00:27:28,940 it really did not make sense to get that premium price. 712 00:27:28,970 --> 00:27:30,530 You can save a few cents per jar, 713 00:27:30,560 --> 00:27:33,230 but it didn't make sense to order that much as a 714 00:27:33,230 --> 00:27:34,190 start-up in her business. 715 00:27:34,190 --> 00:27:37,340 It made sense to cut that in about half and all 716 00:27:37,340 --> 00:27:40,790 right, let's move through the next six months within that shelf 717 00:27:40,790 --> 00:27:42,230 life. See what it does. 718 00:27:42,500 --> 00:27:44,870 And then maybe we can warrant a larger, 719 00:27:44,930 --> 00:27:47,270 better priced order in the future. 720 00:27:47,450 --> 00:27:49,940 So be careful not to order too much and maybe not 721 00:27:49,970 --> 00:27:53,000 always accept the first answer you get from a manufacturer I've 722 00:27:53,000 --> 00:27:53,540 seen too, 723 00:27:53,540 --> 00:27:54,060 where, Oh, 724 00:27:54,060 --> 00:27:55,370 well I've got to order this, 725 00:27:55,370 --> 00:27:55,940 this and this, 726 00:27:55,940 --> 00:27:58,430 but this one piece I have to order 2000 at a 727 00:27:58,430 --> 00:28:00,590 time. I would be leery of that. 728 00:28:00,590 --> 00:28:03,260 Let's see if there's another manufacturer that can offer you a 729 00:28:03,260 --> 00:28:04,310 small batch quantity. 730 00:28:04,340 --> 00:28:06,890 Can they give you 200 at a time instead of 2000 731 00:28:06,890 --> 00:28:07,370 at a time, 732 00:28:07,640 --> 00:28:11,360 can you find other people in the industry that are utilizing 733 00:28:11,360 --> 00:28:12,800 that product and say, 734 00:28:12,800 --> 00:28:15,290 Hey, can I go in with you on your next order? 735 00:28:15,440 --> 00:28:15,770 You know, 736 00:28:15,770 --> 00:28:17,060 then you can split the cost. 737 00:28:17,330 --> 00:28:18,200 So good. 738 00:28:18,200 --> 00:28:19,070 Yeah. Yeah. 739 00:28:19,100 --> 00:28:21,170 And they don't want you to feel like you're locked into 740 00:28:21,170 --> 00:28:22,100 that first answer. 741 00:28:22,220 --> 00:28:24,590 Kind of don't take that first answer if it's not the 742 00:28:24,590 --> 00:28:25,350 one that you want, 743 00:28:25,400 --> 00:28:27,080 look and see if there's other options. 744 00:28:27,470 --> 00:28:30,710 Yeah. The other thing that a lot of people will do 745 00:28:30,800 --> 00:28:32,840 is they'll be certain, 746 00:28:32,900 --> 00:28:36,380 absolutely positive that there's a certain scent or a certain flavor. 747 00:28:36,380 --> 00:28:37,370 That's going to be a hit. 748 00:28:37,400 --> 00:28:40,550 So they'll order a lot of that and then find that 749 00:28:40,610 --> 00:28:41,930 they're the only ones who really like it. 750 00:28:43,130 --> 00:28:44,270 It's not even moving. 751 00:28:44,270 --> 00:28:47,900 So I think what you're saying here is so valuable in 752 00:28:47,900 --> 00:28:50,990 that even if it's going to mean you make less money 753 00:28:51,170 --> 00:28:53,840 initially, because you're testing your market, 754 00:28:53,840 --> 00:28:55,220 you're seeing what they like. 755 00:28:55,460 --> 00:28:57,770 And so you're buying it in smaller quantities, 756 00:28:57,770 --> 00:29:00,680 which means it costs a little more in the long run. 757 00:29:00,680 --> 00:29:01,820 You'll be better off. 758 00:29:02,330 --> 00:29:06,380 Yeah, absolutely seeing that where folks have ordered too much and 759 00:29:06,530 --> 00:29:08,710 now they're sitting on three years worth of inventory. 760 00:29:08,740 --> 00:29:12,440 Now they can't pivot in the market because they're sitting on 761 00:29:12,470 --> 00:29:14,300 so much of what they've already bought. 762 00:29:14,330 --> 00:29:17,390 And that's another risk that you would be up against if 763 00:29:17,390 --> 00:29:18,650 you bought too much at the beginning. 764 00:29:18,950 --> 00:29:19,400 Yeah. Yeah. 765 00:29:19,430 --> 00:29:20,720 That goes for packaging too. 766 00:29:20,750 --> 00:29:21,470 How you're wrapping, 767 00:29:21,470 --> 00:29:23,900 how you're branding your product labels, 768 00:29:23,900 --> 00:29:26,780 the whole thing just by small first, 769 00:29:27,020 --> 00:29:28,580 make sure you like what it's doing, 770 00:29:28,610 --> 00:29:30,320 make sure it's working well for you. 771 00:29:30,350 --> 00:29:32,120 So you're not stuck with inventory. 772 00:29:32,420 --> 00:29:33,980 Love that you brought that up. 773 00:29:35,540 --> 00:29:37,250 So as You've been talking, 774 00:29:37,250 --> 00:29:40,580 and this was way back in the beginning of our conversation, 775 00:29:40,640 --> 00:29:42,310 you referencing, 776 00:29:42,460 --> 00:29:46,120 I think that you built in a tool or something that 777 00:29:46,120 --> 00:29:46,360 you use. 778 00:29:47,310 --> 00:29:51,840 Yes. So now I have a tool that's built to where 779 00:29:51,840 --> 00:29:53,970 we will look at it. 780 00:29:53,970 --> 00:29:56,370 Really, it comes down to how much to order. 781 00:29:56,370 --> 00:29:58,590 That's kind of what it's spitting out the end. 782 00:29:58,590 --> 00:30:00,600 If you think of kind of a box with all the 783 00:30:00,600 --> 00:30:02,160 bells and whistles and what comes out of the answer, 784 00:30:02,190 --> 00:30:05,640 it helps with what to order how much and when, 785 00:30:05,760 --> 00:30:08,010 but the pieces that have to feed into that we are 786 00:30:08,010 --> 00:30:09,030 looking at all right, 787 00:30:09,030 --> 00:30:10,710 what is that sales forecast? 788 00:30:10,740 --> 00:30:11,870 What did you do last year? 789 00:30:11,890 --> 00:30:13,740 Are you going to do better or worse than that this 790 00:30:13,740 --> 00:30:15,930 year? Is it going to be different by product? 791 00:30:16,140 --> 00:30:17,880 So we have these conversations, 792 00:30:17,940 --> 00:30:19,170 I, me and the client to say, 793 00:30:19,170 --> 00:30:19,500 all right, 794 00:30:19,530 --> 00:30:20,430 where are you heading? 795 00:30:20,670 --> 00:30:24,120 And a lot of times that comes into what the marketing 796 00:30:24,120 --> 00:30:25,230 plan is as well. 797 00:30:25,230 --> 00:30:27,660 So we'll pull together the sales forecast. 798 00:30:27,720 --> 00:30:29,370 Then we'll look at your inventory. 799 00:30:29,400 --> 00:30:30,600 What are your costs? 800 00:30:30,900 --> 00:30:32,250 And then also the lead time. 801 00:30:32,260 --> 00:30:35,400 So based on everything you've got going into the business, 802 00:30:35,430 --> 00:30:36,840 how long is it going to take for the product to 803 00:30:36,840 --> 00:30:37,410 get there? 804 00:30:37,650 --> 00:30:41,010 And then that makes a clear decision at the end, 805 00:30:41,010 --> 00:30:44,910 as to you could order this much and be covered for 806 00:30:44,940 --> 00:30:45,720 three months, 807 00:30:45,750 --> 00:30:47,580 or you could order this much and be covered for the 808 00:30:47,580 --> 00:30:48,480 next six weeks. 809 00:30:48,690 --> 00:30:52,290 What are the risks and opportunities for ordering the higher versus 810 00:30:52,290 --> 00:30:56,040 lower? And we just have those conversations to see what is 811 00:30:56,040 --> 00:30:58,320 the best option for the business at that point in time. 812 00:30:58,800 --> 00:31:00,060 That's fabulous. 813 00:31:00,150 --> 00:31:00,720 Oh my gosh. 814 00:31:00,720 --> 00:31:01,170 So great. 815 00:31:01,170 --> 00:31:04,470 And that all is encompassed within the project booth and your 816 00:31:04,470 --> 00:31:06,000 whole consulting environment, 817 00:31:06,030 --> 00:31:06,870 right? Correct. 818 00:31:06,900 --> 00:31:07,770 That's what you use, 819 00:31:07,770 --> 00:31:10,890 which I love this example because it's something that you've created, 820 00:31:10,890 --> 00:31:12,180 which is totally yours. 821 00:31:12,180 --> 00:31:15,030 Like no one else can go out and get your tool. 822 00:31:15,090 --> 00:31:16,980 Right. They have to be working With you. 823 00:31:17,330 --> 00:31:17,880 That's right, 824 00:31:17,910 --> 00:31:19,410 right. It's Wonderful. 825 00:31:19,440 --> 00:31:21,090 That's absolutely fabulous. 826 00:31:21,210 --> 00:31:23,100 So are there any other, 827 00:31:23,250 --> 00:31:26,370 I'm thinking I'm just going over now into just the business 828 00:31:26,370 --> 00:31:31,050 environment. Are there any tools that you use or anything to 829 00:31:31,050 --> 00:31:32,730 keep yourself organized? 830 00:31:32,730 --> 00:31:34,380 Because now you have a ton of clients. 831 00:31:34,410 --> 00:31:37,740 You've got the whole consulting business up and running strong. 832 00:31:37,980 --> 00:31:40,860 What do you use to stay focused and in control of 833 00:31:40,860 --> 00:31:41,100 your day? 834 00:31:41,850 --> 00:31:43,980 Oh, I am a big calendar nerd. 835 00:31:43,980 --> 00:31:48,360 So I love time blocking in making sure that I can 836 00:31:48,360 --> 00:31:50,670 execute what I said I could by the end of the 837 00:31:50,670 --> 00:31:55,050 week. So I have certain days where I allow myself these 838 00:31:55,050 --> 00:31:56,910 certain days are for clients, 839 00:31:56,940 --> 00:31:58,050 client conversations, 840 00:31:58,050 --> 00:31:59,460 phone calls these days, 841 00:31:59,460 --> 00:32:00,450 or for client work. 842 00:32:00,480 --> 00:32:03,750 I think you use schedule once I use acuity calendar scheduling 843 00:32:03,750 --> 00:32:07,950 so that when clients or folks that are interested in touching 844 00:32:07,950 --> 00:32:09,510 base for initial consult, 845 00:32:09,570 --> 00:32:11,250 I can quickly give them the link. 846 00:32:11,280 --> 00:32:14,130 And it ties right back to my Google calendar. 847 00:32:14,190 --> 00:32:17,070 And it only books for certain hours out of the day 848 00:32:17,490 --> 00:32:20,880 hours. You've decided already based on your perfect week are times 849 00:32:20,880 --> 00:32:22,170 when you would take calls. 850 00:32:22,470 --> 00:32:24,780 Exactly. That's perfect. 851 00:32:24,810 --> 00:32:26,970 Wonderful. And give biz listeners, 852 00:32:26,970 --> 00:32:29,340 I'll put a link to acuity in the show notes. 853 00:32:29,340 --> 00:32:32,430 So you see what that's all about and tell us a 854 00:32:32,430 --> 00:32:35,790 little bit about your initial coaching calls in case someone is 855 00:32:35,880 --> 00:32:36,540 Interested here. 856 00:32:36,750 --> 00:32:39,830 Yeah. So we keep it very clean and easy. 857 00:32:39,830 --> 00:32:42,590 It's usually a 30 minute call that people can book straight 858 00:32:42,590 --> 00:32:43,580 off my website. 859 00:32:43,880 --> 00:32:47,240 And we talk about where your business is today. 860 00:32:47,270 --> 00:32:49,430 What type of product do you have and where you want 861 00:32:49,430 --> 00:32:51,020 to be in the next 12 months? 862 00:32:51,050 --> 00:32:54,320 So we're going to figure out a couple of key things 863 00:32:54,350 --> 00:32:55,490 from those questions. 864 00:32:55,490 --> 00:32:56,960 And then what I also ask, 865 00:32:56,960 --> 00:32:58,790 what type of tools are you using currently? 866 00:32:58,790 --> 00:33:02,120 So are you using QuickBooks for your inventory or do you 867 00:33:02,120 --> 00:33:05,240 have accounting professional helping you with your P and L? 868 00:33:05,420 --> 00:33:08,330 So we get a couple of details ironed out just from 869 00:33:08,330 --> 00:33:11,390 that questionnaire and then go through them in that phone call 870 00:33:11,420 --> 00:33:15,110 to see where you are rocking it in your business and 871 00:33:15,110 --> 00:33:19,040 where you see some opportunity and would like to get things 872 00:33:19,040 --> 00:33:21,140 more clear and confident. 873 00:33:21,140 --> 00:33:22,970 So you can feel like you're actually running your business like 874 00:33:22,970 --> 00:33:24,500 a CEO and it's not running you. 875 00:33:24,910 --> 00:33:30,820 Perfect. So if you were to give one overall big arching 876 00:33:30,850 --> 00:33:31,690 piece of advice, 877 00:33:31,690 --> 00:33:34,450 based on all those coaching calls that you've done already, 878 00:33:34,630 --> 00:33:35,680 what would that be? 879 00:33:36,190 --> 00:33:37,180 That's a good question. 880 00:33:37,240 --> 00:33:38,200 Biggest nugget. 881 00:33:41,200 --> 00:33:41,890 Let's see. 882 00:33:42,270 --> 00:33:46,870 It's probably gonna come back down to the cashflow because if 883 00:33:46,870 --> 00:33:48,430 you don't manage that properly, 884 00:33:48,610 --> 00:33:49,660 you're going to be out of business. 885 00:33:50,560 --> 00:33:53,860 Right? Because everything that I work towards on the back end 886 00:33:53,860 --> 00:33:57,160 of your business is really geared towards maximizing your bottom line. 887 00:33:57,430 --> 00:34:01,780 And so we're going to make sure you've got your costs 888 00:34:01,780 --> 00:34:05,350 in line and your revenues planned out to where you at 889 00:34:05,350 --> 00:34:06,910 least have a plan to be successful. 890 00:34:06,910 --> 00:34:09,400 Yes. You might have to Dodge some things here and there, 891 00:34:09,400 --> 00:34:11,500 or you might get some great perks along the way, 892 00:34:11,710 --> 00:34:14,020 but you need to have a roadmap to get there. 893 00:34:14,110 --> 00:34:17,800 And that cashflow is going to dictate what that roadmap looks 894 00:34:17,800 --> 00:34:19,180 like. Perfect. 895 00:34:19,450 --> 00:34:20,380 So lane, 896 00:34:20,380 --> 00:34:21,160 at this point, 897 00:34:21,220 --> 00:34:23,980 I want to ask you my dare to dream question. 898 00:34:23,980 --> 00:34:24,730 Are you ready? 899 00:34:25,060 --> 00:34:25,540 I'm ready. 900 00:34:25,780 --> 00:34:28,990 Okay. I'd like to present you with a virtual gift. 901 00:34:29,170 --> 00:34:33,130 It's a magical box containing unlimited possibilities for your future. 902 00:34:33,370 --> 00:34:36,850 This is your dream or your goal of almost unreachable Heights 903 00:34:36,850 --> 00:34:38,380 that you would wish to obtain. 904 00:34:38,650 --> 00:34:41,560 Please accept this gift and open it in our presence. 905 00:34:41,950 --> 00:34:43,450 What is inside your box? 906 00:34:43,840 --> 00:34:45,250 Such a great question too. 907 00:34:45,400 --> 00:34:46,480 So my dream, 908 00:34:46,480 --> 00:34:49,750 if I were to open up this box would show that 909 00:34:49,850 --> 00:34:53,230 have an agency of folks that are on my team to 910 00:34:53,230 --> 00:34:56,590 where I can service many more clients that are in that 911 00:34:56,590 --> 00:34:58,930 range from startups to scale ups, 912 00:34:58,930 --> 00:35:03,190 to multi six or seven figure businesses so that they can 913 00:35:03,190 --> 00:35:07,930 have that outsourced expertise from years and years of experience in 914 00:35:07,930 --> 00:35:08,590 the industry, 915 00:35:08,620 --> 00:35:10,810 but they can outsource it to an expert. 916 00:35:11,080 --> 00:35:13,450 So I would love to have an agency set up to 917 00:35:13,450 --> 00:35:16,390 where we can handle a broad range of clients. 918 00:35:16,630 --> 00:35:17,770 In addition to, 919 00:35:17,890 --> 00:35:22,120 I want to be able to create a new software that 920 00:35:22,120 --> 00:35:25,690 is specifically geared towards small and medium-sized businesses, 921 00:35:25,870 --> 00:35:28,390 because right now the great forecasting tools, 922 00:35:28,390 --> 00:35:32,410 the great inventory tools are a multi-million dollars and really not 923 00:35:32,410 --> 00:35:35,740 something that is going to be well geared towards small, 924 00:35:35,740 --> 00:35:36,700 medium sized businesses. 925 00:35:36,700 --> 00:35:38,610 So I want to have not only the software, 926 00:35:38,610 --> 00:35:42,810 but the personal support needed to help move these businesses in 927 00:35:42,810 --> 00:35:43,620 the right direction. 928 00:35:44,090 --> 00:35:47,330 I'm so excited about that idea because this whole concept, 929 00:35:47,330 --> 00:35:50,210 I don't think people really think about and to have something 930 00:35:50,240 --> 00:35:53,210 that could be a little bit more off the shelf versus 931 00:35:53,210 --> 00:35:56,660 having to enter into a consulting type thing for you, 932 00:35:56,660 --> 00:35:58,400 I think would be fabulous. 933 00:35:58,460 --> 00:36:01,550 And for people who need the product would also be great. 934 00:36:01,910 --> 00:36:04,490 So love that I am all in on that idea for 935 00:36:04,490 --> 00:36:06,500 you, cause we all need it. 936 00:36:07,760 --> 00:36:10,790 So how can our listeners find out more about you? 937 00:36:10,790 --> 00:36:11,870 Where would you direct them? 938 00:36:12,380 --> 00:36:15,260 The easiest place to find me is just on my website. 939 00:36:15,260 --> 00:36:18,290 It's the project booth.com. 940 00:36:18,620 --> 00:36:21,260 And from there you can read a little bit more about 941 00:36:21,260 --> 00:36:24,260 me or you could also find the link to my Facebook 942 00:36:24,260 --> 00:36:27,830 page. And I also do have a Facebook group back in 943 00:36:27,830 --> 00:36:30,050 brilliance to scale your growing business. 944 00:36:30,320 --> 00:36:34,100 And that is where I spend most of my active time 945 00:36:34,100 --> 00:36:37,040 throughout the week in providing additional tips, 946 00:36:37,040 --> 00:36:39,590 some similar or maybe a deeper dive to what we've gone 947 00:36:39,590 --> 00:36:40,250 over today. 948 00:36:40,280 --> 00:36:42,980 So that's a great place to learn more Wonderful. 949 00:36:42,980 --> 00:36:45,290 And that's a free group to go into it is. 950 00:36:45,410 --> 00:36:46,520 Okay. You also, 951 00:36:46,520 --> 00:36:47,060 I think, 952 00:36:47,210 --> 00:36:49,790 cause I was just looking before we got on you have 953 00:36:49,880 --> 00:36:53,000 some type of a download also on your website. 954 00:36:53,360 --> 00:36:53,780 I do. 955 00:36:53,810 --> 00:36:58,010 Yep. What's that It is five profit mistakes to avoid when 956 00:36:58,010 --> 00:36:59,150 growing your business. 957 00:36:59,210 --> 00:37:02,570 And so this will hit on some of the topics we 958 00:37:02,570 --> 00:37:03,260 talked about today, 959 00:37:03,260 --> 00:37:05,000 but also go into a deeper dive. 960 00:37:05,300 --> 00:37:07,250 And if that resonates with you, 961 00:37:07,250 --> 00:37:10,430 then that's a great segue into hopping on a phone call 962 00:37:10,430 --> 00:37:13,070 and starting an initial consult to see if we can help 963 00:37:13,070 --> 00:37:13,880 you fast track your day. 964 00:37:14,450 --> 00:37:15,230 Oh, perfect. 965 00:37:15,290 --> 00:37:16,040 Wonderful. Yeah. 966 00:37:16,040 --> 00:37:17,000 So download, 967 00:37:17,030 --> 00:37:19,670 read it and then see if you need further information or 968 00:37:19,670 --> 00:37:20,990 you feel like you want to take the next step. 969 00:37:21,230 --> 00:37:23,480 Absolutely wonderful lane. 970 00:37:23,660 --> 00:37:24,770 I am so, 971 00:37:24,830 --> 00:37:27,080 so glad we had this interview. 972 00:37:27,140 --> 00:37:27,830 I think, 973 00:37:27,830 --> 00:37:28,930 like I said in the beginning, 974 00:37:28,940 --> 00:37:31,880 this is a topic we haven't really addressed and I think 975 00:37:31,880 --> 00:37:34,790 it is a key to being able to stay open with 976 00:37:34,790 --> 00:37:35,600 your business. 977 00:37:35,810 --> 00:37:38,150 We've talked a little bit about you do some of these 978 00:37:38,150 --> 00:37:39,680 touch points wrong. 979 00:37:39,740 --> 00:37:42,020 You're going to be putting your money in places that aren't 980 00:37:42,020 --> 00:37:45,350 going to allow you to build or grow so important. 981 00:37:45,350 --> 00:37:47,780 Thank you so so much for being on the show today, 982 00:37:47,780 --> 00:37:49,910 sharing your expertise with us, 983 00:37:49,910 --> 00:37:52,880 giving some hints into some of the consulting that you do 984 00:37:52,880 --> 00:37:54,050 with your clients. 985 00:37:54,200 --> 00:37:55,700 I appreciate it so much. 986 00:37:55,910 --> 00:37:56,630 Thank you so much, 987 00:37:56,630 --> 00:37:58,040 sir. I appreciate your time as well. 988 00:37:59,690 --> 00:38:02,870 Are you discouraged because your business is not performing as you 989 00:38:02,870 --> 00:38:03,650 had envisioned, 990 00:38:03,910 --> 00:38:06,890 are you stuck and confused about how to turn things around 991 00:38:07,190 --> 00:38:10,940 Sue's new best selling book is structured to help you identify 992 00:38:10,940 --> 00:38:14,420 where the holes are in your business and show you exactly 993 00:38:14,540 --> 00:38:15,410 how to fix them. 994 00:38:15,650 --> 00:38:17,300 You'll learn from Sue and owners, 995 00:38:17,300 --> 00:38:18,380 just like you, 996 00:38:18,380 --> 00:38:22,670 who are seeing real growth and are living their dream maker 997 00:38:22,820 --> 00:38:24,800 to master find and fix. 998 00:38:24,800 --> 00:38:27,290 What's not working in your small business, 999 00:38:27,590 --> 00:38:31,460 get it on Amazon or through www.gift 1000 00:38:31,460 --> 00:38:34,340 biz, unwrapped.com/master.