Podcast Episode Summary: The BossBabe Podcast #448

Title: Scaling an Ecom Brand From Scratch to $700K in Year One: The Sales Engine Playbook with Catherine Smith Licari of The Small Business Planner

Host: Natalie Ellis

Guest: Catherine Smith Licari, Founder of The Small Business Planner

Release Date: January 30, 2025

1. Introduction

Natalie Ellis welcomes Catherine Smith Licari to the BossBabe Podcast, delving into Catherine’s entrepreneurial journey from her early days in the publishing industry to scaling an e-commerce brand to $700K in its first year.

2. Early Entrepreneurial Journey

Catherine begins by recounting her start in the publishing world, working at Conde Nast in 2014. Dissatisfied with her salary and realizing the high cost of living in New York City, she sought an entrepreneurial path.

[00:23] Catherine: "I need to create something exceptional to be able to stay in this industry."

She identified a gap in the burgeoning Instagram market where emerging luxury fashion designers lacked a platform for commerce. This insight led her to launch a dedicated website for these designers while pursuing her master's degree at Parsons as a safety net.

3. Transition from Fashion to Advising

Running her website proved initially successful due to minimal competition. However, Catherine observed the unsustainable economics of the fashion industry, noting that many competitors struggled with profitability despite their scale.

[03:10] Catherine: "I realized the economics of fashion are totally broken."

As her platform grew, Catherine began receiving operational and financial inquiries from the designers she supported. At 26, recognizing her limitations, she pursued further education to bridge her knowledge gaps.

4. Pursuing Business Education

Determined to solve the recurring challenges her clients faced, Catherine enrolled in Columbia Business School to acquire essential financial skills. This education was pivotal in shifting her focus from merely advising to creating a comprehensive solution for small business owners.

[04:50] Catherine: "I don’t have the skills to responsibly lead a team beyond this threshold."

5. Founding The Small Business Planner

Post-business school, Catherine pivoted to establish The Small Business Planner, a high-end planner designed to demystify the complexities of running a small business. The planner serves as a comprehensive guide, covering everything from formation documents to financial management.

6. Designing a High-Quality Product

Catherine emphasizes the importance of product quality, drawing parallels to haute couture’s meticulous craftsmanship. She sought to create a planner that wasn’t just functional but also aesthetically pleasing, ensuring it stood out in the market.

[16:58] Catherine: "I have to add desire. I have to take my experience in the retail and luxury goods space and infuse that into what this is."

Her commitment to quality extended to the packaging, ensuring each planner arrived as a beautiful and intentional product.

7. Overcoming Early Challenges

The initial years were financially challenging, with Catherine’s earlier ventures not turning a profit. However, her persistence in addressing a significant problem for small business owners eventually paid off when The Small Business Planner began to gain traction.

[20:57] Catherine: "I knew there was a huge problem to solve. I was not giving up."

8. Personal Life and Resilience

Catherine shares her personal struggles with IVF during the pandemic, highlighting how her business’s sales engine provided stability during a tumultuous time.

[38:07] Catherine: "Most business owners try to drive all the way to Dallas with not enough gas. You're inevitably gonna run out of gas."

Despite facing significant personal challenges, Catherine leveraged her business acumen to maintain and grow her company.

9. Building a Sales Engine

Central to her success was the development of a robust sales engine. Catherine utilized her extensive experience in supply chain management and paid advertising to drive consistent sales, even when she was personally unable to actively manage the business.

[47:03] Catherine: "The ad budget is not a real number. It's the relationship to what do you put in to the engine and what comes out."

Her strategic use of paid ads, combined with high-quality product offerings, allowed The Small Business Planner to scale rapidly.

10. Product Strategy and Marketing

Catherine discusses her marketing strategies, emphasizing the importance of understanding customer psychology and willingness to pay. By pricing the planner affordably and bundling it with free shipping, she eliminated common purchase barriers.

[50:56] Catherine: "We don't charge for shipping because I built it into the price."

Her approach ensured that customers saw the planner as a valuable investment rather than an additional expense.

11. Persistence and Pivoting

Catherine highlights the necessity of persistence in entrepreneurship. Even when faced with initial failures, she continued refining her product and approach until she found the right fit for her market.

[58:36] Catherine: "Just keep going. It's really hard to do that when you've got like one of your best friends tuned in and like maybe two other people."

Her unwavering belief in her mission ultimately led to the breakout success of her planner.

12. Utilizing the Small Business Planner

The planner is structured to guide business owners through essential tasks and milestones, featuring tabs on formation documents, bank accounts, insurance policies, taxes, and more. Each section is complemented by a digital course that provides step-by-step guidance.

[67:40] Catherine: "So if you've got a weekend, it's also on us as business owners to make this time."

This dual approach ensures that users not only have the resources at their fingertips but also the support to effectively utilize them.

13. Conclusion and Final Thoughts

Catherine underscores the significance of a well-designed sales engine and comprehensive planning tools in achieving sustained business growth. Her journey exemplifies how resilience, strategic planning, and a commitment to quality can overcome both personal and professional challenges.

[70:03] Catherine: "The sales engine is key."

Natalie Ellis concludes the episode by offering listeners an exclusive bonus pack to complement the Small Business Planner, reinforcing the podcast’s commitment to empowering female entrepreneurs.

Notable Quotes with Timestamps

• [00:23] Catherine: "I need to create something exceptional to be able to stay in this industry."

• [04:50] Catherine: "I don’t have the skills to responsibly lead a team beyond this threshold."

• [16:58] Catherine: "I have to add desire. I have to take my experience in the retail and luxury goods space and infuse that into what this is."

• [20:57] Catherine: "I knew there was a huge problem to solve. I was not giving up."

• [38:07] Catherine: "Most business owners try to drive all the way to Dallas with not enough gas. You're inevitably gonna run out of gas."

• [47:03] Catherine: "The ad budget is not a real number. It's the relationship to what do you put in to the engine and what comes out."

• [50:56] Catherine: "We don't charge for shipping because I built it into the price."

• [58:36] Catherine: "Just keep going. It's really hard to do that when you've got like one of your best friends tuned in and like maybe two other people."

• [67:40] Catherine: "So if you've got a weekend, it's also on us as business owners to make this time."

• [70:03] Catherine: "The sales engine is key."

Resources and Contact Information

• The Small Business Planner:

  • Website: smallbusinessplanner.com
  • Instagram: @CashflowForCreatives

• Exclusive Bonus Pack for BossBabe Listeners:

  • Offer: Purchase the Small Business Planner using code BossBabe to receive the Sales Engine Pack.
  • Details: Includes strategies on structuring offers, driving traffic, and optimizing sales engines.
  • Access: Visit smallbusinessplanner.com and use the code at checkout.

Final Thoughts

Catherine Smith Licari’s story is a testament to the power of identifying market needs, maintaining unwavering persistence, and leveraging strategic planning to achieve extraordinary business growth. Her insights provide invaluable lessons for female entrepreneurs aiming to build successful and sustainable businesses.