The 3 Profit Stages For Product Brands| What To Do In Each Stage

<p><span style="font-weight: 400;">It's disheartening to put so much energy into building a business, only to find yourself in a never-ending cash crunch. Spending your limited resources on worthless things or perfection is a key contributor.</span></p> <p><span style="font-weight: 400;">That's why we made this episode. You'll get insight into the three profitable stages associated with product brands, figure out where you are in that cycle, and discover how to allocate your resources accordingly and get the most out of each phase.</span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>Episode Highlights</strong><span style= "font-weight: 400;"> </span></p> <ul> <li style="font-weight: 400;" aria-level="1"> <strong>[02:04]</strong> <span style="font-weight: 400;">The three profit stages of beauty brands:</span></li> <ul> <li style="font-weight: 400;" aria-level="2"><span style= "font-weight: 400;">Stage 1: The emerging stage</span></li> <li style="font-weight: 400;" aria-level="2"><span style= "font-weight: 400;">Stage 2: The growth stage</span></li> <li style="font-weight: 400;" aria-level="2"><span style= "font-weight: 400;">Stage 3: Scale up stage</span></li> </ul> <li style="font-weight: 400;" aria-level="1"> <strong>[02:30]</strong> <span style="font-weight: 400;">Why you should avoid using the term “side hustle” to describe your emerging business</span></li> <li style="font-weight: 400;" aria-level="1"> <strong>[04:03]</strong> <span style="font-weight: 400;">What happens in the Stage 1: The emerging stage</span></li> <li style="font-weight: 400;" aria-level="1"> <strong>[07:10]</strong> <span style="font-weight: 400;">The value of market research</span></li> <li style="font-weight: 400;" aria-level="1"> <strong>[08:53]</strong> <span style="font-weight: 400;">Three things to consider when doing market research:</span></li> <ul> <li style="font-weight: 400;" aria-level="2"><span style= "font-weight: 400;">Your ideal customer’s psychology. How and what are they thinking about before they buy.<