192 – Be the BEST Product Boss Minna Khounlo-Sithep

Minna is one busy woman owning two separate businesses, Lil’ Labels and The Product Boss Podcast. Lil’ Labels are writable, waterproof labels for baby items for daycare and is an Amazon bestseller. Minna also co-owns and co-hosts The Product Boss Podcast and coaches product-based business owners how to grow their businesses and connect with other product entrepreneurs through Masterminds. She lives in Iowa, is the mom of two little girls, and loves living her passion as mom and CEO.

Business Building Insights

• One way to identify a product to create is to look for problems in your life that can be solved.
• Be okay with the slow months and use them strategically to build inventory and test new concepts.
• Push the busier months based on the results and learning from slow month testing.
• Focus on growing annual revenue and margin rather than the unit sold at a consistent rate throughout the year.
• On slow months, work on building an email list and waiting list so you’re primed when it’s your strong season.
• For product inserts, add only one call to action for it be effective.

Challenges

Start ups – mindset, self doubt, burning time and money, knowing what your options are. Growth – How do you make more money? How do you make more sales? Expansion – Figuring out the process for scaling.

Resources Mentioned

Jen Eby from Eby Farms – Great example of using social media videos and live streaming Zulily Groupon Jane Postmark Sassy Steals Groop Dealz

Contact Links

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Thanks! Sue