Think Like A CFO Podcast

How To Earn More Profit With A Product Business

March 22, 2021 Melissa Houston / Minna Khounlo-Sithep and Jacqueline Snyder Episode 27
Think Like A CFO Podcast
How To Earn More Profit With A Product Business
Chapters
Think Like A CFO Podcast
How To Earn More Profit With A Product Business
Mar 22, 2021 Episode 27
Melissa Houston / Minna Khounlo-Sithep and Jacqueline Snyder

If you run a product-based business, this episode is for you!

Through The Product Boss brand and podcast, Minna Khounlo-Sithep and Jacqueline Snyder help product-based entrepreneurs improve their systems, grow visibility, and make more sales!

They launched their company 3 years ago after noticing that while there were plenty of resources out there for service-based brands, a gap existed when it came to product-based businesses.

Business owners who sell physical products deal with unique obstacles. 

Many are unsure of how to approach marketing, believing that high follower counts on social media automatically lead to increased sales.

The pair help their clients and listeners adjust their strategies, focusing on email lists and relationship-building rather than just collecting followers. They also help them price their products, choose which products to focus on (and which to drop), and develop systems to help them save time and scale up.

While they want their clients and listeners to have profitable businesses, mindset issues can get in the way.

“There’s a little bit of guilt sometimes when makers are making something and then they start charging for it,” Jacqueline says. “We don’t believe that they should have any guilt, because they’re putting their time towards it.”

Often, clients resist making moves to boost profitability.

“We start with looking at the numbers, because the numbers are a clear indicator of what the products are that they need to lean into,” Minna says. “When they’re not confident with numbers, they just don’t want to even be aware of them.”

Now is your chance to learn from the masters of product-based business! In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

  • How to narrow your product range to focus only on the items that offer the best balance of profit and ease — and the amazing growth that can follow
  • The 3 biggest mistakes that product-based business owners make
  • When you need to focus on stabilizing, rather than scaling

About The Product Boss 

Minna Khounlo-Sithep and Jacqueline Snyder are the masterminds behind The Product Boss coaching platform and podcast. They help their community of high-achieving small business owners scale through masterminds, group coaching, and courses designed for product-based business owners. 

Highlights:‌ ‌

  • 02:06  Meet Minna Khounlo-Sithep & Jacqueline Snyder 
  • 05:07  Common obstacles
  • 07:22  Profitability
  • 09:39  The right product(s)
  • 12:26  Case study
  • 14:14  Resistance
  • 17:39  Numbers are feedback
  • 20:08  3 biggest business mistakes
  • 23:09  The Oprah effect
  • 26:10  Shop 1 in 5 pledge
  • 29:12  Final takeaway

Links:‌ ‌

The Product Boss

https://www.theproductboss.com

https://linktr.ee/theproductbosspodcast 

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap 

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.

Show Notes

If you run a product-based business, this episode is for you!

Through The Product Boss brand and podcast, Minna Khounlo-Sithep and Jacqueline Snyder help product-based entrepreneurs improve their systems, grow visibility, and make more sales!

They launched their company 3 years ago after noticing that while there were plenty of resources out there for service-based brands, a gap existed when it came to product-based businesses.

Business owners who sell physical products deal with unique obstacles. 

Many are unsure of how to approach marketing, believing that high follower counts on social media automatically lead to increased sales.

The pair help their clients and listeners adjust their strategies, focusing on email lists and relationship-building rather than just collecting followers. They also help them price their products, choose which products to focus on (and which to drop), and develop systems to help them save time and scale up.

While they want their clients and listeners to have profitable businesses, mindset issues can get in the way.

“There’s a little bit of guilt sometimes when makers are making something and then they start charging for it,” Jacqueline says. “We don’t believe that they should have any guilt, because they’re putting their time towards it.”

Often, clients resist making moves to boost profitability.

“We start with looking at the numbers, because the numbers are a clear indicator of what the products are that they need to lean into,” Minna says. “When they’re not confident with numbers, they just don’t want to even be aware of them.”

Now is your chance to learn from the masters of product-based business! In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

  • How to narrow your product range to focus only on the items that offer the best balance of profit and ease — and the amazing growth that can follow
  • The 3 biggest mistakes that product-based business owners make
  • When you need to focus on stabilizing, rather than scaling

About The Product Boss 

Minna Khounlo-Sithep and Jacqueline Snyder are the masterminds behind The Product Boss coaching platform and podcast. They help their community of high-achieving small business owners scale through masterminds, group coaching, and courses designed for product-based business owners. 

Highlights:‌ ‌

  • 02:06  Meet Minna Khounlo-Sithep & Jacqueline Snyder 
  • 05:07  Common obstacles
  • 07:22  Profitability
  • 09:39  The right product(s)
  • 12:26  Case study
  • 14:14  Resistance
  • 17:39  Numbers are feedback
  • 20:08  3 biggest business mistakes
  • 23:09  The Oprah effect
  • 26:10  Shop 1 in 5 pledge
  • 29:12  Final takeaway

Links:‌ ‌

The Product Boss

https://www.theproductboss.com

https://linktr.ee/theproductbosspodcast 

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap 

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.