Dec 19 2023 33 mins
To listen to Part 1 of this fantastic episode check out "School for Small Business."
In today's episode, we dive deep into the world of business with Staci Millard, an incredible fractional CFO, business owner, and investor.
In part one of this two-part series, Staci and host Christina explored the latest trends in the product-based space. Now, in part two, they continue the conversation, delving into Staci's background, her journey from accounting to owning a family-run product business, Love Powered Co, and the valuable lessons she's learned along the way.
Staci shares her expertise on financial planning, emphasizing the importance of including a wage for yourself in your business projections. She sheds light on common pitfalls in the product business realm, such as overlooking the necessity of paying oneself and the impact it can have on long-term sustainability.
The discussion takes an inspiring turn as Staci opens up about Love Powered Co, a family project aimed at promoting mental health through affirmation products. She shares the story of acquiring the business, the challenges and joys of running it as a family, and their mission to create a positive impact beyond product sales.
The episode also touches on the evolving landscape of business in 2023 and the adjustments businesses are making to stay competitive and profitable. Staci provides insights into the importance of intentionality in spending, asking the right questions before making investments, and building a brand with a strong community focus.
As the conversation unfolds, Staci offers valuable advice for entrepreneurs looking to sell their businesses. From sustainability and standard operating procedures to profitability and creating a recognizable brand, she outlines key considerations for a successful business exit.
Whether you're a seasoned business owner or just starting, this episode is packed with wisdom, actionable insights, and a genuine passion for creating businesses that thrive. Tune in to gain a fresh perspective on the business landscape and discover the keys to building a sustainable and impactful brand.
Connect with Staci:
Love Powered Co on Instagram
Staci Millard on Instagram
Website
Podcast
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Connect with Christina: