Nikonomics - The Economics of Small Business
My mom always told me "There's no such thing as a dumb question... Only dumb people!"
What she meant was that those who DON'T ask questions are the dumb ones! At least, that's what makes me feel better about asking so many questions :)
I've bought, run & sold dozens of companies in the SMB space, with multiple 7-figure exits. Over the past 5 years my companies have generated over $100M of revenue and Millions of dollars of shareholder value.
Now I let my curiosity drive as I interview Entrepreneurs and ask them to walk me through how their businesses work.
Nikonomics is a place for curious Entrepreneurs and Wantraprenuers hungry to learn. So come join our big group of DUMB people, ask some questions and maybe we will learn a thing or two together.
Follow me on Twitter here: https://twitter.com/CoFoundersNik or @CoFoundersNik
Nikonomics - The Economics of Small Business
54 - Rebuilding a $8M Business After Buying It Back with Cathryn Lavery
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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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
