Christina Stembel is the founder of Farmgirl Flowers, a $23M company that’s reinventing the floral industry’s business model to eliminate waste and elevate the customer experience.
Christina’s Instagram – Follow Christina on Instagram!
FarmGirlFlowers – Check out what Christina has going on!
3 Value Bombs
1) Identify what problem you’re solving and what you want your company to do.
2) It’s important to have a team that appreciates the transparency within the company and that will get through anything with you.
3) Know your KPI’s; know your numbers.
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Today’s Audio MASTERCLASS: Creative Cash Flow Strategies for Bootstrapped Entrepreneurs with Christina Stembel
[1:23] – Christina shares something about herself that most people don’t know.
- Christina loves motorcycles and her dream occupation would be to be a motorcycle racer.
[2:04] – Christina talks about the benefits of staying fully bootstrapped and owning all of your own decisions.
- The biggest advantage of being fully bootstrapped is having zero red tape and being able to make decisions for the company.
- Christina enjoys having the liberty to do the things that she wants to do without having to get permission from other people.
[3:34] – How does one build a business model around eliminating waste and maximizing profit margins?
- You should identify what problem you’re solving and what you want your company to do.
- You cannot be the fastest, the cheapest, and the best. Just choose 2 out of those 3 and decide how it can best impact your customer experience and your business.
[8:12] – Christina shares her journey of going from a “debit card girl” to the “credit card girl”.
- Christina uses credit cards for cash back and as a cash management tool, which has allowed her to easily monitor her financial standing in real time.
[12:15] – Lets talk about a low point: at one time you hit $411 in your business bank account.
- Christina still has struggles from time to time, and it has taught her that it’s very important to have a team that appreciates the transparency within the company and a team that will get through everything with you.
[16:13] – Share your struggles of trying to secure outside funding.
- Being bootstrapped is challenging in terms of cash flow.
- A lot of times they have to make concessions and sacrifices
[20:00] – How do you recommend entrepreneurs, small business owners, and companies use their credit card to maximize its benefits?
- Christina recommends using a credit card because of the cash back earnings on anything you spend your money on.
[21:48] – How have you used digital marketing to help combat the flower industry’s dreaded “summer slump”?
- Know your numbers, study your Key Performance Indicators, and adjust accordingly.
- Digital marketing has helped her keep team members and helped them keep the business open even during slow months.
[25:31] – Christina’s parting piece of guidance
- If you’re going to be an entrepreneur, you have to know the numbers inside and out of your business.
[26:40] – Learn more about Christina!
- Christina’s Instagram – Follow Christina on Instagram!
- FarmGirlFlowers – Check out what Christina has going on!
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