Welcome to the Evolvepreneur (After Hours) Show
I am your Special Host Christine Campbell Rapin
Join me today where we dig deep with our guests and get you the best concepts and strategies to fast-track your business.
My very special guest today is Elaine Mingus ...
Elaine Mingus started a furniture resale business called Curb Culture out of necessity to pay off $10,000 of debt. She grew the business significantly in its first 6 months through selling refurbished items on Facebook Marketplace. While the business brought in over $100,000 in sales one year, she found the cash flow was inconsistent month-to-month. This prompted her to diversify her income streams through online courses and consulting. Elaine now leverages the success of her business to support causes around sexual abuse awareness and crime prevention through non-profit partnerships. She emphasizes the importance of financial stability and diversification for entrepreneurs seeking impact beyond just their business.
Key Moments:
- Elaine started her furniture reselling business after getting into debt from home renovations. She began picking up used furniture items cheaply and reselling them for profit online.
- Within 6 months, she was able to pay off $10,000 of debt through her furniture reselling business. She reinvested the profits into other goals like vacations and her daughter's braces.
- It's important to have multiple revenue streams and diversify your business. The guest faced slow months in her business and created online courses to supplement her income during those times.
- Using platforms like Facebook Marketplace is an effective way to reach buyers and sellers for a product-based business. However, it's risky to rely solely on third-party platforms, so collecting email addresses is important.
- Cash flow needs to be stabilized, especially when supporting a large family. The guest's husband now works full-time in the business to provide consistent income.
- Inventory should be managed carefully by finding great deals and doing some repair work to keep costs low. Too much inventory ties up cash.
- Leveraging a partner can help share the workload and ensure the business' goals remain aligned.
- As the business succeeds, it enables giving back to causes the owner is passionate about through platforms, consulting work, and nonprofit partnerships.
- Financial freedom is needed to properly support important social causes and initiatives.
- The goal is to go where the money is by developing business and life skills that keep operations profitable long-term.
About The Show
Evolvepreneur (After Hours) Show features guest stories about entrepreneurs and their journeys from startup, growth to success.
If you're looking to succeed with quick start concepts for online entrepreneurs, this brand new show reveals how startup entrepreneurs or someone looking to start, grow or reboot their online business can understand how to create specific strategies to build their list, make offers and connect with their best buyers.
We want to help entrepreneurs make a real difference and navigate the messy world of startup or re-launch.
Also, visit https://evolvepreneur.app/podcast/show to grab your free copy of #1 International Best Selling Book "Evolvepreneur Secrets for Entrepreneurs".
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Want to be a guest on the show?
Apply here: https://evolvepreneur.app/page/guestapplication
Sponsored by Evolvepreneur.app—"Your All In One Business System".
