Latest / Imagine If with Doone Roisin | Health, Wealth & Wisdom for Women (formerly Female Startup Club Podcast) / Fave Hits: Using a focus group of 1000 target customers to build your business and change the world, with Saalt’s Cherie Hoeger (Part 1)

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Fave Hits: Using a focus group of 1000 target customers to build your business and change the world, with Saalt’s Cherie Hoeger (Part 1) · Imagine If with Doone Roisin | Health, Wealth & Wisdom for Women (formerly Female Startup Club Podcast)

0:00
Hey there, I'm recording this quick message to let you know that for the next few episodes, we'll be playing some of our favorite hits from the past year while we knuckle down on some very new exciting things we have in the works. If you missed these the first time around, they are so good and packed with so many learnings. And if you love them, remember to share with us on social media because we love it when you do that. Enjoy. This is Cherie Hager for Female Startup Club.
0:38
Hey everyone, and welcome back to another episode of the Female Startup Club podcast. I'm your host, Doon Roshin, and joining me on today's episode is Cherie Hager from Salt. Salt is a company aiming to modernize reusable period care. In 2018, Salt launched its flagship product, the Salt Period Cup, with the vision of making cleaner, more sustainable period care accessible to everyone.
1:03
Leading Salt's social impact efforts, Cherie began networking with impact partners to provide their period cups to underprivileged girls and women so they could confidently manage their periods, stay in school, and lift themselves out of poverty. Now in their third year in business, Salt has donated over 12,000 cups in over 22 countries to create a wave of informed cup users who then act as mentors for other donation recipients.
1:31
In this episode, you'll hear how Cherie and her husband got their impactful start by launching the brand to their focus group of 1,000 people, the way they're driving growth through impact and education, and why Cherie urges everyone to consider becoming a B Corp business. And while I've got you here, I would love for you to join us in our private Facebook group. You can find us by searching Female Startup Club on Facebook or following the link in the show notes. This is Cherie for Female Startup Club.
2:01
Cherie, hi, hello, and welcome to the Female Startup Club podcast. So lovely to be with you today, dear. I'm super excited to dig in. I always love starting by getting you to introduce yourself and tell us a little bit about what your business is. Okay, wonderful. So I'm Cherie Hager. I'm the founder and CEO of Salt, and we are a period care company aiming to modernize reusable period care for the mainstream consumer. Sure.
2:29
So we want to be able to present those reusable options as something clean and sustainable and something appealing to mainstream consumers. We're also B Corp, which means that we take a triple bottom line approach to everything we do. We want our products to be clean and sustainably sourced and ethically made and also perform really well for that mainstream consumer.
2:49
And as part of being a B Corp, we have a 2% give back mission. So we give back 2% of our revenue to fund initiatives of natural health and also education and sustainability.
3:00
Gosh, I've been reading all about you and your business, obviously, prior to this call. And I'm just so impressed and so in awe of what you've been doing. I'm really excited to dig in and learn all about it. Let's go back to where this story actually starts. What was getting you excited about starting a business in period care? So the spark for salt came from a phone call I had with an aunt in Venezuela. She'd gone without pads and tampons for years.
3:28
And the political instability there had caused these huge shortages of basic consumer staples like food and hygiene supplies, and grocery stores were literally empty. Everyone who has been through the pandemic this past year knows what that feels like a little bit more to see those shelves and how fast they can clear. And that dependence on disposables really kept me up at night. I have five daughters, and I immediately thought of my five daughters and what I would do in that situation.
3:54
So that led to a lot of research into what reusable options there were out there. And that's when I was first introduced to the period cup. And I learned that it was cleaner. It was non-toxic. You could wear it for 12 hours at a time. It lasted 10 years. And I just thought, where has this been my whole life? And so I bought several cups to try out, but couldn't find one that really worked well with my anatomy. Yeah.
4:19
And also found that there weren't many cups that were US made out of high quality medical grade silicone that were FDA compliant. And so I roped my husband into helping me create a custom model on a 3D CAD and got to work creating this cup that I hoped would be best for beginners and also the mainstream consumer. And it took about 14 iterations to get it right. Oh, wow. Goodness. So 3D printing the cup like at your house, for example? Yeah.
4:46
Well, we actually, so it wasn't a 3D print. So we did a 3D CAD and it's modeling it. Oh, a 3D CAD. Yeah. Okay, right. And we hired a freelancer to help us do that. But if you think about it, when you're creating a silicone menstrual cup, you found a supplier who made medical grade devices, but the mold itself cost $25,000 of an investment just to have that mold created because you're literally etching that mold in steel. It's a steel mold that is liquid injected with silicone.
5:16
So we had to make sure that it was right, which is why it took 14 iterations. We had to be super confident in our product. And because we're going to have a small and a regular size, then that's another 25K. So that's 50,000 of our own retirement funds that we're investing into this product. So you can imagine how nerve wracking it was to be able to get this right. And when we finally pulled the trigger, it was a big step. That's what you do as an entrepreneur is you
5:40
have confidence in your product, and you decide to move forward. Wow, gosh. Yeah, that is a really big step. How did you actually go about finding the person that was going to produce the silicon mold and produce the products for you? Yeah, that's a great question. It just takes a lot of research. I like to say...
5:59
As entrepreneurs, there's no magic ticket to how you do things. It's really just a lot of problem solving. So we did interview a lot of manufacturers. We found a great one that had a U.S. source silicone that was U.S. made. They actually made medical grade parts for different hospitals and also for aerospace parts. So a very, very good supplier that we could really trust. And then also hiring that freelancer to help us create the design. And it just it takes a lot of research and interviewing, really.
6:27
And a moment ago when you were saying you're a B Corp business, did you have to think about the way that you were going to manufacture and produce these kinds of things with that in mind versus just going out and just potentially, you know, sourcing from who knows where or doing it a different way? Did it change the way you operated from the very beginning? Yeah, absolutely.
6:50
Because as a B Corp, you want to make sure that you're providing products that are both good for, well, everyone's bodies, for everyone and the environment and all of your stakeholders. So you actually have language written into your bylaws, into your operating agreement, saying that you measure the impact of your decisions on all stakeholders, not shareholders. So it's not about just profit. It's not about that bottom line. It's about people, planet and profit. It's a triple bottom line approach.
7:17
And so we do, we wanted to measure how these products would affect the environment, how they would affect our customers and make sure that they were done in a clean way that was sustainably sourced and also used through ethical methods. And that's what B Corp is all about. Amazing. When you were going to do the mold, the silicon mold, did you prove out the concept and validate the idea before going ahead and pulling that trigger? Or is that something that came next?
7:44
That came next. And that was the tough part. Now that I remember, we did do a little 3D print, but it's not something that you would actually test and put inside of you. Oh my God, I hope not. But I remember we started a focus group early on on Facebook with the goal to get a thousand members to join. And the idea was if we could get at least a thousand people who resonated with our new brand and mission and also our product,
8:10
then we would have something that we could sell. So that's often called the proof of concept stage in business. So we started hosting these lunches in Boise and also in other states to recruit people to join our group. And we'd bribe them with free food and ask them to bring their laptops and invite their friends to join. And then once we reached those thousand members, we would ask them all sorts of questions. So we would say, how do you like our branding and packaging? And what do you think about this marketing idea? And which cup color do you like best?
8:37
And we would A, B, these questions to get real feedback from real consumers. And then we also wanted to see how they liked our new cup design. And we had them test out our prototypes once we had prototypes. And I remember how nerve-wracking it was.
8:51
Because you would have someone who would say, hey, I'm having trouble with the cup. And you get so worried, you knew there was that learning curve, but you didn't know if it was the learning curve or if it was the cup design. But then that same person would come back and they would rave about how comfortable it was and how easy to use it was. And it was this roller coaster of emotion to hear this real and raw feedback from our customers. But it was so important because it prepared us for the problems that we needed to address
9:17
as a customer service team, and also really helped us gain confidence in our product that it really worked for people. So it was pretty amazing. And then once we did launch, and this gets to our launch phase, but they had tested those prototypes. We had a thousand people with a thousand sources of feedback for that product. And then when we launched, we gave them and gifted our packaging. And on social media,
9:40
they were able to show us their unboxing experience and share it with the world. And it really helped us launch so that when we put our website out there, it wasn't just crickets. We had a team of a thousand people who were helping launch at the same time.
9:52
Oh my gosh. Wow. That's crazy. A thousand's a lot. Just to clarify, when we're thinking about the numbers side of things and starting a business, it was around $50,000 you said for the mold. Then I imagine you've invested in the product and then you've also essentially paid for shipping to a thousand people. Can you share kind of an overview of what kind of capital it really took to get started when you factor in all those kind of early beginning moments?
10:22
So we've been fortunate enough to be self-funded for the most part with SALT, but we did take out an SBA loan to fund the inventory because that was the biggest expense. So we did self-fund our design and a lot of kind of the early stage branding, but then we took out the SBA loan for inventory and that was about $800,000. So we are also part of an angel investor community here. And I know that a lot of startups go ahead and take investors. So you have the venture-backed startups.
10:50
And those can be really successful, and I've seen them not be successful. And the trouble with taking venture capital is that investors are always looking for an exit strategy. So they're not always invested in your long-term strategies as a business. They're looking at that short-term gain and how fast they can exit. And we were really concerned with that, especially because we have that 2% giveback mission as a Z Corp, and that's called mission lock, where an investor might want to change that. Well, what if you give 1% so that you can have higher profits?
11:20
And we didn't want that to be dictated by an investor. So we really wanted to retain full ownership and are proud to have been able to do that to this day. But
11:29
it was a little harder, right, to get your loan. So when we're looking at that first SBA 7A loan, the underwriters really wanted us to cut that impact budget because they were most concerned about the debt service coverage ratio. And so that 2% can be quite a lot, right? So we had to convince them that that 2% was actually going to be a win-win both for the company and our consumers and then our partners and that we're going to be able to attract world-class suppliers
11:55
and attract world-class talent by being a B Corp. And that has certainly been true, but it took some convincing. How long did it take for you to kind of get that money piece in place? We had to show that we had a viable product, which is why it took our own funds first. I'm trying to remember how long it was. We launched in February of 2018. We'd been working on it since 2016. And we were able to get the SBA loan in 2017, right before our inventory purchase. So, yeah.
12:23
Yeah, it was after we'd already created that design and invested our own funds into creating the design. Got it. And then that loan was able to, you know, give you the money to invest in the product investment. Yes, we had to be very deliberate in showing where that money was going. It had to be used for inventory. In fact, there's stipulations that that was the only thing we could use it for. Oh, okay. Right. Wow. Good one. Very exciting. Yeah.
12:49
So going back to the launch, you've got a thousand people who are going out there and doing the unboxing. They're already hyped about your brand. They love it. They've been part of the journey from the beginning. And I guess that's like what they say about building those first 1000 true fans of the brand. You pretty much did that in the lead up to launch. You had that already ticked off. What happens next? What happens after you launch this brand to the world? What was it like, you know, the reception of it to everyone? Yeah.
13:17
Well, it's a lot of spreading the word and finding ways to do that. So one of our focus group members actually came up with the hashtag, pass the salt. We said, this is a product that's really word of mouth. You need to be able to be introduced to the product by a friend or a trusted mentor or a trusted influencer.
13:34
And so we use that hashtag past the salt. We loved it. We thought it was brilliant. I love that. And we did turn to a lot of social media and a lot of influencers because we knew that we could rely on those first thousand people or we could also. Well, it was both. It was relying on those first thousand people and it was looking at those influencers and
13:52
and getting them on board, sending them product to try, having them be cup converts, and then sharing that with their audiences. So we are very social media heavy. We are 80% mobile. So 80% of our customers are on mobile. And so we continue to be, and we're always spreading messages. It's also a lot of education. So I came from a technical writing background before starting SALT, and I wrote textbooks on fitness and wellness.
14:16
And I realized that in order to really cause behavior change, you had to take this really ambiguous information like nutrition, for instance, that's just all over the board. There's so much information out there. Find what's credible and put it into these bite-sized chunks that are consumable for mainstream consumers to then make decisions on and make good choices. And when I saw the menstrual cup market and when I saw the stigmas with period care,
14:42
I realized this was just an education issue. People needed to be educated. And actually that stigma really represented both our biggest challenge and opportunity because challenge in the fact that we had to overcome those stigmas and opportunity in that we could retell the story in a different way. And we could show it as something, instead of something that was gross and reusable, we would show it as something that was clean and sustainable and actually better for you and the planet and actually a cleaner period experience.
15:12
And so we really took that stigma head on, especially in our branding and our messaging and our voice and our imagery and showcase the cup as this beautiful high end product that opened like a beautiful lipstick, high end lipstick. I love that. I love that. And do you think having that education piece and that style of language and that tone of voice is really what lifted the brand up when people were coming in and kind of converted them into being customers? Yeah.
15:40
Very much so. This is something we A-B tested with our focus group. We would put out different language and some was a little bit more authoritative and other language was more approachable. And hands down, the approachable voice was what customers gravitated to. And we actually have a name for it. So we like to call it your best friend's older sister.
15:59
And the reason why is because when you're learning about period care as a teen, you don't always want to go talk to your mom, right, about it. And then your best friend, well, she's going through her period at the same time you are. But your best friend's older sister, now she's cool. She knows she's been through a lot of cycles before. So you could turn to her to know how you should cover your period care.
16:20
And so that's what we call the voice, your best friend's older sister. I love that. That's so cool and so true. I love that voice. Something you said before that sparked something in me that I wanted to ask you just to go back a little bit.
16:33
Why aren't we, or is it now the case that in schools, we're only really given the option of pads and tampons? I certainly didn't have any knowledge really of menstrual cups until recent years and recent times. Is it something that's talked about in school, this kind of period care?
16:52
Not very much. It still has a lot of strides to gain and headway. So there are areas, for instance, we have an incredible partner out of Australia. Her name is Demi and her social handle is Bright Girl Health. And she loves to teach about reusable products. She loves the salt cup and she teaches it to girls in school. But it's not the case. Usually those school programs are funded by big programs like Tampon, Playtex, a lot of, well, here in America, a lot of the big conglomerates that are disposable companies.
17:20
And so you don't see a lot of reusables. And that's something that we want to change. We are currently developing a school curriculum that we're hoping we'll also be able to get out there to schools to introduce young girls to reusables from schools.
17:32
from the get-go when they first start their period. Yeah, I imagine that's a really, that'll be a really fulfilling day when you get that happening in schools. Love that. So back to marketing. Sorry, I went off course for a little bit there. After the launch and, you know, the word is starting to spread, what were the kind of pivotal moments where things really started to take off and it started spreading further than that 1,000 customers?
17:56
Yeah, I would say it was our launch in Target. So that was probably the number one thing that really set us off as a brand. So we launched into Target stores nationwide and only our second year of business, which was pretty incredible. That doesn't usually happen. And Target had really been our dream retailer. So we were debating back and forth on packaging design. And what we keep coming back to is that it had to be Target worthy.
18:22
And Target is inclusive nationwide right now. It's a pretty trend-setting retailer here in the US. And the way it came about was that my husband, who's also a co-founder, joined me at a trade show in Florida. And it was essentially speed dating with retailers. We picked 26 retailers in 48 hours.
18:41
And one of them was a Target buyer. We had this 20-minute meeting with the Target buyer. And you can imagine how nervous we were. I'd only pitched to one other grocery buyer, and she was pretty stone-faced. And so I went in really prepared. But to my surprise, she was a very progressive thinker. She had been passing around menstrual cups around the Target offices, very much trend-setting. And they wanted to lean into sustainable products.
19:07
And so she gave us great feedback on what we could change in our packaging to make it more consumable for a target guest. And then also, you know, how to differentiate it on the shelf. And I remember we were sitting there and after she had showed us all that feedback, she said, you know, I've looked at a lot of cups and I mean a lot of cups. And I really think that your brand is best positioned to take the cup mainstream.
19:30
And I just wanted to fall off my chair when I heard that. Oh, my God. Because at this point, you know, we'd put in two years of work and we had our mortgages on the line and it was just all blood, sweat and tears and so much grit and hustle. You know, late nights writing website copy and writing instructions and, you know, investing our funds. And here was this target buyer that just solidified exactly what we set out to do from the beginning.
19:53
And that was to create a product that would be good for the mainstream consumer. And the fact that she had that much faith in our product was just so confirming. And so as entrepreneurs, it's really a roller coaster. It's often said that you only have two emotions as an entrepreneur, either euphoria or terror. And the lack of sleep just emphasizes them both. And this was one of those moments of euphoria was to hear the target buyer say that.
20:18
And then we got to go to Minneapolis and negotiate. And we were able to get exclusive launch in all of Target stores nationwide. So it was pretty incredible for our brand.
20:30
Wow. What does that do to the brand? Is it tripling your growth? Is it quadrupling? What kind of impact does it have to go into a Target store nationwide? Not in terms of only when it comes to sales through Target, but in terms of what it does for your credibility and what it does for your direct-to-consumer side of things. Yeah, it was like a quadruple for us.
20:54
So in our first year, we weren't profitable in our first year. And then in our second year, we were able to make $5.5 million in revenue. And then we've been able to double since then. So it's pretty huge. At the same time, one of their biggest concerns in launching a small company and a new startup is can you even meet the demand? Can you meet the supply chain demand? Can you make sure to ship the products on time? Do you have insurance? It's all of those logistic questions. And those were probably her biggest concerns.
21:24
is can you meet all that? Because you have to meet all the different target POs on time. And we had a bit of a panic moment. We also got our salt wash into target to go alongside our cups.
21:35
And I remember when the PO came two months before we're supposed to launch, and it was double the amount that it was supposed to be. And we had to make sure and meet that because as a small brand, you can't mess up that relationship. Like, you've got to deliver. And so we did everything we needed to do to make sure that we delivered, paid a little bit more in shipping to be able to get those products air freighted instead of, you know, by sea. Gosh, yeah.
21:58
That's so exciting. I've really loved what Target's been doing in the last two years. I've really seen them kind of grow these, well, take these D2C kind of brands and bring them to life in Target in different ways. It's been really interesting to watch and so exciting for the landscape of what small brands can have access to. It's true. And they're incredible to work with. Just like I said, very progressive and they do want to support those small, innovative brands. And I think it's incredible as well.
22:27
How has your marketing evolved and what's the biggest driver for growth for you in terms of customer acquisition today? So we use a lot of different methods. That's something that you're always trying to figure out as a brand is you're looking at the data and you're saying, OK, where are we getting the most conversions?
22:44
We do a lot of digital ad spend on Amazon. And also we have two big brand campaigns that we launched this past year that we have, you know, constantly being put out to the world. And so we do, you know, spend the money in that recording and making sure that we have a very high quality production. We also work a lot with influencers. And so that's something that we've continued. We didn't have as much money at the beginning to do big productions. And now we do. So we relied more on influencers. And now that's been a little bit more balanced.
23:13
But I would say email marketing too. I like to say that email marketing is like free money because you're not paying for email as you are on ads and you have this loyal customer base that you're trying to make a lifetime customer. You're trying to get repeat purchases. And we just launched our salt wear, so our period underwear just two months ago. And so all those who bought a cup, now we're marketing our underwear to them and hoping that there'll be a repeat buyer. So I really think that putting time and effort into email marketing is one of the best ways
23:44
Also with influencers, we do very little paid partnership. We try to have it be win-win in all of our campaigns. Speaking about our impact, having influencers be able to speak to our impact. We do do a lot of impact marketing as well, where we like to spread our message and what we're doing. And that's been something we've tested. Is that something that will convert if we put our impact together?
24:05
messaging out there. It's something we're doing anyway. If we actually put digital ad spend behind it so that people know what we're doing, will that convert? And we have seen really great success with that as well. So that tells me that people want to align with brands that also align with their personal values and are doing good in the world. And I think that's a trend that we're just going to continue to see. It's especially true of millennials and the Gen Z generation. I just see it that they don't want to support these big conglomerates anymore. They want to support
24:35
Yeah, absolutely. And I think the word that comes to mind right now, even though I know it's overused, is people who are being authentic and really trying to have that authentic impact, not, you know, something that's a bit showy or for the show kind of thing.
24:51
Yeah, they want you to walk the walk. Yes, absolutely. You mentioned that when you were going through the target, you said the PO situation, is that like the purchase order? Is that what you meant when you said PO? Yeah. So when you were getting that PO and they doubled the amount that they needed and it was a challenging time, what are some examples of times when things haven't gone to plan or haven't gone so well and it's been more of a struggle? One big one comes to mind.
25:19
Fortunately, this was pre-target. So this was right after we launched. So we launched in February of 2018. And that summer, we started seeing these Amazon reviews that were complaining that there was this terrible smell coming from our cups. And of course, we were thinking, no, silicone doesn't smell. There should be no smell, actually, for the cups. But they would open up the cups and they kept reporting these terrible smells. And of course, you know, we're trying to get on top of that and having them send us their cups and trying to figure out what is the issue.
25:49
And it took some time. We got all these cups back and we're asking basically for a recall. And we stopped sending cups. We pulled off of Amazon. We said, we need to figure this out. We're a new brand. You know, this is something that can really, really hurt our reputation long term. And so we did stop our sales. And as we were trying to figure it out, we'd get these cups. We did really have a terrible smell. We're like, what is going on? And after sending it to a lab, we found out that it was just one of those silicone gel packets.
26:18
that you're put in to try to get moisture out of the cup, that for some reason there was a bad batch out of China and it was those that were sitting in the package with the cup and it wouldn't smell at first because silicone can take on smells over time. So as that sat for a number of months, that's when it would take on the smell.
26:37
And we call it smelly gate. Yeah, we have this term for it. We call it smelly gate. We're like, remember when smelly gate happened? And so it was something that we learned right away. We got rid of those packets. We made sure that there was a little bit more quality control on where those came from. We changed the pliers. We haven't had the issue since. But brands go through that. Sometimes you have items that are recalled
26:57
There's a local founder here, Happy Family Brands, and she had some product that she had to recall also from Shells. She does baby food products, and she said that the plastic that she was using for one of her baby food items was kind of leaching into the baby food, which is really terrible. That's not something that a mother wants for her child. And so she said she was traveling to different states and literally buying everything off the shelf to be able to recall that so that she wouldn't have those bad reviews hit her reputation. Yeah.
27:26
You know, those things happen and you just work through them. Who's liable in that situation? Like, were you having to repay for all those costs or was it the manufacturer who had to reimburse you or make the product again? We had to negotiate with the manufacturer. And what it really is, is it's problem solving. It's realizing that that manufacturer doesn't necessarily want to take that hit. You don't want to take the hit. You definitely can't put it on the retailer. You just need to make sure and smooth things over with the retailer.
27:55
And so we were able to just negotiate something with the manufacturer where we both kind of took a hit and then made sure to correct the situation. So they're a great manufacturer and we were able to get through it. Wow. That is scary. That sounds really scary. Not fun. When you look back over the last few years, is there anything that you would have done differently or that you think you should have done sooner or later, just different in general? That's a great question. Yeah.
28:24
it's only been three years since we launched and we've been able to do so much in those three years that I feel like we've done most everything right in the sense that you just fail forward, right? There's no such thing as failure. You're either winning or you're learning. It's not failing. So I don't know that we would have done anything differently because there's learnings in everything that you do. So I do think what we very much did right is going to that conference to pitch target, taking the leap and saying, we can do this. And
28:52
A lot of being an entrepreneur is committing to something and committing to that vision that you have for your company and making it happen at all costs. It's just execution. And had we not just been so determined in that vision, it's too easy to go by the wayside and listen to the naysayers. Totally. The relentless pursuit. Yes. What does the company look like today? What is the team like? What's the vibe?
29:20
So we grew from a team of six people to 46 employees in three years.
29:26
And it was funny because right before COVID hit, we're actually bursting at the seams in our office. So this was February of last year, a year ago. And so we moved to a new office space that was, you know, double the size and got it all ready. And then the pandemic hit at that time where, you know, everyone was forced to work from home. And so when we finally solved the issue, then suddenly we didn't have the problem anymore. We had an empty office sitting for quite some time. So that was a bit nerve wracking, too, because we didn't know how the pandemic would hit our business.
29:55
But it was the right decision long-term because then as we started coming back to the office a little bit more of the summer and it's still in and out, it's, you know, those who feel comfortable coming in can come. And of course we have all the normal protocols, you know, we wear masks and we have sanitizer and so forth and go through cleaning around. But it was a good change because what we found is that our business actually increased in the pandemic because we are an essential business and we have an essential product. And
30:20
especially with the cost savings of a cup. And then the reusability when you're struggling to get to the store or if getting to the store poses a risk for health, then we had a lot more increased interest in reusable products. So it actually boosted our business.
30:35
And I also feel like as a category, everyone's wanting to find these reusable products. Everyone's wanting to do better, have better products, have better things in their cupboard. And I feel like there's so much education that's coming out around these things now at the moment. It's such a, it's the time for it. You know, it's a shift. Yep. I have one last question for you before we jump into the six quick questions. What is your advice for women who have a big idea and want to start their own business?
31:06
Well, first I say go for it because I love to support female founders. And I also, like I said, really see these millennials and Gen Z generation want to align with these companies that align with their values. So I would recommend looking at a social mission and seeing what kind of good you can do in the world. I really feel like there's no better way than through the B Corp model. I'm such a fan.
31:29
I feel like the B Corp really blends the best of the nonprofit world and the for-profit world. I have a lot of friends that work in nonprofit, and they go into their organizations hoping to do a lot of good and hoping to make a direct impact. But then what they find themselves doing more often than not is fundraising. And they end up having to make five calls a day to different investors just to keep things moving.
31:52
instead of spending their time making that direct impact. So I love that as a B Corp, I can do what I do best as an entrepreneur, focusing on marketing and innovation, and then funneling those funds to incredible organizations that are able to make such an impact for women and girls in our case. And that's really where our focus is. And so I really think that that B Corp standard is really the way of the future.
32:14
It's this focus on conscious capitalism in every aspect of business from sourcing products responsibly, paying fair wages, committing to honesty and transparency, and then using business as a force for good. And I think there's so much that every business can do to maximize their social impact while also decreasing their environmental footprint. And so you have this era where cheap and disposable products offer a lot more profit, but I hope that
32:38
More entrepreneurs will instead choose better health for their customers and for our planet. Because you wouldn't think that a company that is selling something that could last for 10 years would be able to be profitable. And yet we continue to grow. So true. To become a B Corp, what are the things that you need to think about in the beginning? Can you be a small, like, you know, just from day one, can you be a B Corp? You can't from day one because you have to have a year's worth of revenue and profit. Revenue.
33:03
to be a B Corp. So we weren't able to certify until 2019, until our second year, but we did go into our business knowing from day one that we wanted to be a B Corp. And it's actually easier because you're able to set up your business in a way that already makes it
33:16
aligned with those B Corp standards. Whereas for a business that's been running for a long time, if you choose, for instance, to give 1% back to the planet or do some kind of a give back mission, then you're taking it from this bottom line later on. And that's a lot harder to do than going into it from the beginning and then creating your supply chain in a way that is good for the planet. So,
33:36
I would highly recommend looking at it from the beginning. You can start that process right away like we did. And there is the B Corp assessment. It's online. It's free to anybody to try. So any company can go through the B Corp assessment. But then you pay fee and you are certified through B Lab, which is a nonprofit out of California to be able to actually be certified. And you have to have a minimum score to do so. So I would recommend it to anyone. They can start the process anytime. Absolutely. Love that.
34:09
Hey, it's June here. Thanks for listening to this amazing episode of the Female Startup Club podcast. If you're a fan of the show and want even more of the good stuff, I'd recommend checking out femalestartupclub.com where you can subscribe to our free newsletter. We send it out weekly covering female founder business news, insights and learnings in D2C, and interesting business resources.
34:33
And if you're a founder building an e-commerce brand, you can join our private network of entrepreneurs called Hype Club at femalestartupclub.com forward slash Hype Club. We have guests from the show joining us for intimate Ask Me Anythings, expert workshops, and a group of totally amazing, like-minded women building the future of D2C brands.
34:56
As always, please do subscribe, rate and review the show and post your favorite episodes to Instagram stories. I am beyond grateful when you do that.
35:11
Hey, it's June here. Thanks for listening to this amazing episode of the Female Startup Club podcast. If you're a fan of the show and want even more of the good stuff, I'd recommend checking out femalestartupclub.com where you can subscribe to our free newsletter. We send it out weekly covering female founder business news, insights and learnings in D2C, and interesting business resources.
35:36
And if you're a founder building an e-commerce brand, you can join our private network of entrepreneurs called Hype Club at femalestartupclub.com forward slash Hype Club. We have guests from the show joining us for intimate Ask Me Anythings, expert workshops, and a group of totally amazing, like-minded women building the future of D2C brands.
35:58
As always, please do subscribe, rate and review the show and post your favorite episodes to Instagram stories. I am beyond grateful when you do that.