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Julie Fredrickson from Stowaway Cosmetics. Have you ever felt like your purse was so heavy it could take someone out with one swing? Every lip gloss, concealer, and eyeliner really adds up! Julie has a found a solution to this problem with Stowaway Cosmetics, which focuses on creating a more mobile product for women on the go. Listen as she tells us how she has transformed the beauty industry with products that actually get used.

Famous Five:

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• Favorite Book? \u2013 Five Dysfunctions of a Team
• What CEO do you follow? \u2014 Gary Vaynerchuck
• Favorite online tool? \u2014 Google Apps

• Do you get 8 hours of sleep?\u2014Religiously.
• If you could let your 20 year old self know one thing, what would it be? \u2014 Don\u2019t be a jerk. Being kind costs you nothing.

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Time Stamped Show Notes:

• 01:05 \u2013 Nathan introduces Julie
• 01:30 \u2013 Stowaway Cosmetics is about mobile products that women can use anywhere
• 02:10 \u2013 Launched 18 months ago
• 02:25 \u2013 Learning to run an effective ecommerce business
• 02:35 -- $1.5 M in capital
• • 02:45 \u2013 Equity
  • 03:15 \u2013 Valuation is private at an early stage
  • 03:45 \u2013 A good valuation is a balance
  • 05:15 \u2013 Gary Vaynerchuck
• 05:40 \u2013 The beauty industry has been giving out products that people don\u2019t finish
• 06:50 \u2013 Brands need to see more repeat purchasing
• 07:25 \u2013 Margins for a palette of eyeshadow
• 08:10 \u2013 Effective and a better value than their competitors
• 08:30 \u2013 Direct consumers
• 08:45 \u2013 A normal margin is about 50% through retailers
• 09:20 \u2013 Their margin is about 85%
• 09:45 \u2013 Monopolies in the makeup industry
• 10:15 \u2013 \u201cYou should have a choice as a consumer to carry a product that fits your lifestyle.\u201d
• 11:00 \u2013 Weighing down your purse with cosmetics
• 11:35 \u2013 Launched in Feb 2015
• 12:00 \u2013 Fundraising started in early 2014
• 12:15 \u2013 Valuation was based on pre-sales
• 13:25 \u2013 Influence in the marketplace
• 14:05 \u2013 Passed $100k in lipsticks sold
• 14:20 \u2013 Their focus changed to repeat purchasing and having a comfortable growing rate
• 15:20 \u2013 Now they spend nothing on marketing
• 16:25 \u2013 They care more about repeat customers than getting more customers
• 17:30 \u2013 On average, women come back to purchase again in 90 days
• • 18:20 \u2013 40% have made at least 3 purchases
  • 19:00 \u2013 minimalists vs. maximalists
• 19:30 \u2013 Follow at Julie at @stowaway on Twitter and on Anchor
• 21:55 \u2013 The Famous Five

3 Key Points:

• Find a problem and do the research to come up with a good solution.
• Look at a particular industry and evaluate where its setbacks are.
• Develop a relationship with your customers.

Resources Mentioned:

• Host Gator \u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
• Freshbooks - The site Nathan uses to manage his invoices and accounts.
• Leadpages\xa0 \u2013 The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
• Audible \u2013 Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
• Google Apps \u2013 Julie\u2019s favorite online tool for her business
• Show Notes provided by Mallard Creatives