Nikonomics - The Economics of Small Business

54 - Rebuilding a $8M Business After Buying It Back with Cathryn Lavery

Sep 6, 2024

Cathryn Lavery, founder of BestSelf Co. and former architect, shares her inspiring journey of transforming a personal project into a multi-million-dollar e-commerce business. She reveals how managing her ADHD fueled her entrepreneurial spirit and the importance of analog tools in a digital age. Cathryn discusses the rollercoaster of selling her company to private equity and buying it back, offering insights on customer loyalty and team dynamics. She also explores how AI can streamline operations and enhance business efficiency.

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Intro

00:00 • 6min

Navigating Business Challenges and Strategies

05:45 • 18min

Navigating Sales Channels and E-Commerce Challenges

24:07 • 3min

AI's Transformative Impact on Healthcare and Architecture

27:32 • 5min

Transforming Healthcare with AI through PDF Optimization

32:15 • 2min

Exploring AI and Valuable Skills in Business

33:53 • 5min

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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Cathryn Lavery (https://x.com/cathrynlavery), founder of BestSelf Co. (https://bestself.co), to talk about her incredible journey from architect to e-commerce entrepreneur. Cathryn built a multi-million-dollar business by creating tools that help people become the best versions of themselves. What started as a personal project to manage her ADHD grew into a thriving company with $8.2 million in revenue.

In this episode, we also talk about how Cathryn turned her design background into a successful e-commerce business and why she believes in the power of analog tools in a digital world. We also explore her experience selling her company to private equity, buying it back, and the lessons learned from that rollercoaster experience.

Questions this Episode Answers:

How did managing her ADHD inspire Cathryn to create BestSelf Co. and grow it into a thriving company?
Why does Cathryn believe in the power of analog tools in a digital world?
What are the challenges and rewards of selling a business and buying it back?
How can entrepreneurs scale their business by focusing on customer success and team building?
How can AI and technology help streamline operations and improve business efficiency?

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Love it or hate it, I'd love your feedback.
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This week we covered:

02:03 Meet Cathryn Lavery: From Architect to Entrepreneur
02:50 Sponsor Message: Win a $100 Amazon Gift Card
03:32 Cathryn's Business Journey
06:54 Challenges and Changes Post-Sale
09:51 Reacquiring the Business
14:01 Running the Business Differently
16:40 Living with ADHD
17:49 ADHD Life Hacks and Systems
18:35 Rebuilding the Company: Lessons Learned
20:44 Customer Acquisition Strategies
22:40 Product Offerings and Sales Channels
24:38 Challenges with Amazon
27:04 AI in Business and Healthcare
35:00 Advice for Aspiring Entrepreneurs
37:03 Conclusion and Final Thoughts