The Andrew Faris Podcast Opening The Books: Mixed By Nasrin
Nasrin Jafari is the founder, designer and CEO of Mixed By Nasrin, a Brooklyn-based fashion company that's recently hit a 7-figure run rate and continues to grow rapidly–and profitably.
In my first ever "Opening The Books" episode, Nasrin and I essentially recorded a coaching call. That is: she gave me access to all of the platforms & numbers in her business, and then we spent 2 hours talking through where she should go from here.
My hope is that Nasrin's willingness to be this vulnerable and generous with her business's details is a giant help to others in similar stages of businesses.
There are a ton of screenshares, docs, and other references here. The video version (which will be ideal for this episode) and all of the links I mentioned are all available at www.ajfgrowth.com/mixed.
EPISODE HIGHLIGHTS
- 00:00:17 Coaching entrepreneurs in real time.
- 00:06:27 Creating a high touch brand.
- 00:12:36 Long-term brand building play.
- 00:13:39 Long-term sustainability and cultural impact.
- 00:18:06 Goal: Build a great team.
- 00:22:32 Understanding P&L buckets for profit.
- 00:27:09 Consider moving to 3PL.
- 00:31:20 Rinse and repeat product drops.
- 00:35:45 Manage cash flow with projections.
- 00:40:09 13-week cash flow crucial.
- 00:44:35 Shorten lead time for testing.
- 00:49:43 Create a marketing calendar.
- 00:53:51 LTV based forecast for growth.
- 00:57:05 Facebook ad spend and customer projections.
- 01:01:43 Projecting lifetime customer value.
- 01:06:25 Track customer revenue and spend.
- 01:10:54 Forecasting and financial management are crucial.
- 01:15:37 Keep OPEX at 15%.
- 01:22:23 Consider working with Kynship.
- 01:23:41 Influencer strategy is crucial.
- 01:28:08 Forecast profitability for growth.
- 01:32:57 Collect email and SMS addresses.
- 01:37:44 Focus on returning customer revenue.
- 01:41:11 Email and SMS for retention.
- 01:45:12 Conversion rate is not always important.
EPISODE SPONSOR
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FOLLOW UP WITH ANDREW
- Follow Andrew on Twitter: @andrewjfaris
- Email Andrew: podcast@ajfgrowth.com
- Work with Andrew: www.ajfgrowth.com
EPISODE MUSIC
- Music Intro: "Tell Me Mama" by The Devious Means
- Music Outro: "Rusty Little Scissors" by The Devious Means