And She Spoke: Women. Money. Power. Katie Hunt and the Pros and Cons of Product-Based Business
Confession time: we know close to nothing about product-based businesses.
We’ve been in the online space for years and our experience with product businesses has been so tiring that we don’t even have the energy to sell Hey Marvelous T-shirts.
But, as entrepreneurs who love to stay on top of industry trends, we couldn’t help but notice a huge influx of product-based businesses during the pandemic - especially with the rise of TikTok and the resurgence of spaces like DePop and Etsy.
So, it only made sense to dig deeper and dive into the world of physical products with an expert!
In today’s episode, we’re discussing the ins and outs of the business with the incredible Katie Hunt.
Katie is the founder of Proof to Product where she helps coach and mentor entrepreneurs who create physical products. She works with them on business strategy and helps sell their products wholesale so they can get on the shelves of both smaller, independent shops (like that local stationery store you adore), or larger chains (like Target or Walmart).
So, in today’s episode, Katie discusses her own journey from small stationery store owner to business strategist, how the landscape for product-based business has changed over the past ten years, what you need to know if you’re looking to enter the market, and more!
Here’s a peek at what else you can expect:
- Why stronger access to customer feedback is both a blessing and a curse
- The one question that you should be asking before you start a product-based business
- Comparisons between selling wholesale vs selling via marketing channels like Etsy
- The kind of strain manufacturing and inventory has on your profit margins (and how to start paying yourself more)
- How to continue to feel passionate about your business when you hit a plateau
- The mysteries of TikTok marketing
- Why online entrepreneurs shouldn’t jump into the retail space blind
Once you’re done listening to this episode, find us on Instagram (@heymarvelous) and tell us: do you own a product-based business (or do you sell retail as a part of your online business)? What challenges do you face on a day-to-day basis?
Resources:
This week’s Joy:
Katie and her family recently returned from a 22-day road trip (ummm, jealous). They traveled to 8 states, went camping, spent time outdoors, and were able to have quality time together as a family without Katie having to worry about her business at all.
The high of the trip is Katie’s biggest joy right now!
This week’s Hustle:
Katie’s hustle is something we love in our business too, the criminally underrated Voxer.
Voxer is a walkie-talkie app that’s fantastic for client coaching calls, connecting with colleagues, and having back and forth, real-time conversations.
This podcast is brought to you by the Marvelous online teaching platform.
Marvelous is an easy-to-use platform that helps you build and sell your own courses memberships and live-streamed programs. Go from idea to open for business in just minutes. Unlike other startups, Marvelous was created by women for women. If you're looking for a simple, streamlined way to build and grow an online business. You can learn more at Marvelous.