P23: 🎊 Group Call IX 🎊 Hiring Issues, CFOs, Integrator Roles, & a Darn Good Time!
Video & Audio of Our Call:
Background:
It’s time for our 9th Group Call, with our host Austin, featuring our special guest Nicole Snow of Darn Good Yarn. Nicole shares her business experience and knowledge to our Patreon members and answers their questions with much enthusiasm. Be sure to check out the video of Mr. Ruggles & his spectacular question @ the [15:30] mark. If you missed her one-on-one interview with Austin, check it out at Episode 133.
Nicole founded Darn Good Yarn in 2008 when she wanted to combine her passion for creating, and her dedication to helping others. Nicole has brought Darn Good Yarn from being a company run out of a small basement in Maine, to #599 on Inc. Magazines Top 5,000 Fastest Growing Companies of 2017. Darn Good Yarn was also named #12 on the Inc.’s Top 26 Coolest Products of 2017, and Nicole herself was named to Inc.’s Top 5 Most Influential Entrepreneurs of 2017.
Time-Stamped Show Notes:
- [1:03] Nicole: highlights some of the events that happened to her business since the interview with Austin a year ago.
- [13:43] Stephen: gives his own insight regarding business roles and its importance.
- [14:37] Nicole: using the Birkman Assessment, she was able to find her blind spots and took care of it by hiring the right person.
- [15:31] Austin: A funny moment in the group call where Austin allows Torrey to ask some questions to Nicole.
- [17:11] Nicole: wishes she had a good CFO from the start, which could have been very helpful for her business. She also enumerates the benefits of having a CFO in the company.
- [27:36] Austin: adds in some of the best reasons to have a CFO.
- [28:06] Nicole: offers tips on how to find a good CFO and how much they cost.
- [30:26] Austin: asks Nicole how they make money.
- [30:49] Nicole: a percentage of her business is subscription-based, which she admits is a pain in the ass.
- [35:49] The question shifts to finding reliable suppliers and working out their payment terms.
- [46:02] Nicole: provides her insight in terms of hiring people.
- [48:47] Tyler: is ready to make his own hire but he wants to gain more information about hiring from Nicole.
- [54:08] Nicole: encourages everyone who is into the e-commerce business to go to the Shopify app store and check out some apps that could be useful.
- [56:41] Dillon: asks if Nicole has made some changes to her ads and marketing content because of COVID19.
- [59:25] Austin and Nicole talk about SMS marketing and going mobile.
Our Members on Group Call 005:
Key Point from Our Group Call:
- Nicole: “If I had a CFO from the beginning, they would have been helping me… a good one… would have been helping me create narratives and define sources that were risky that you can put controls in place for. Right from the start, for every single dollar that goes out the door.”
Resources Mentioned:
- LinkedIn: DarnGoodYarn
- Twitter: @thecraftywiner
- DarnGoodYarn.com
- Birkman Assessment
- TradeIndia.com
- Darn Good Yarn is Looking to Branch Out
- Darn Good Yarn's Growth Continues with New Building
- Scaling Growth and Helping Women Worldwide – Darn Good Yarn
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