Supermaker

1. Start with passion, then refine your focus

I was stubbornly frugal and couldn't resist thinking about the cost of this (and everything in my life) in terms of how many deodorants I'd have to sell to cover it.

Find your niche. Jaime Schmidt's journey began with a passion for natural products, experimenting with various formulations in her kitchen. She initially created a range of personal care items, from lotions to sunscreens. However, her breakthrough came when she focused solely on natural deodorant, recognizing its potential in the market.

Iterate and improve. Schmidt continuously refined her product based on customer feedback and market demands. She developed new scents, improved formulations, and even created a sensitive skin line to cater to a broader audience. This focus on constant improvement and adaptation to customer needs was crucial to the brand's success.

• Key steps in Schmidt's journey:
  • Experimented with various natural products
  • Identified deodorant as the most promising product
  • Continuously improved formulations and expanded scent offerings
  • Developed specialized products (e.g., sensitive skin line) to meet customer needs

2. Embrace risk and seize opportunities for growth

Being an entrepreneur requires stepping out of your comfort zone—that's often where the big rewards lie.

Take calculated risks. Schmidt's success was built on a series of bold decisions and calculated risks. From quitting her day job to focus on the business full-time to accepting large orders without knowing exactly how to fulfill them, Schmidt consistently pushed herself out of her comfort zone.

Leverage opportunities. When presented with chances for growth, such as appearing on national television or partnering with major retailers, Schmidt seized these opportunities despite initial doubts or challenges. This willingness to say "yes" and figure out the details later was a key driver of the company's rapid expansion.

• Examples of risk-taking and opportunity seizure:
  • Accepting a 500-jar order from the Netherlands without prior experience
  • Appearing on Fox News despite voice condition concerns
  • Pursuing partnerships with major retailers like Target and Walmart
  • Expanding product lines beyond deodorant (e.g., soaps, toothpaste)

3. Cultivate a strong brand identity and customer connection

Customers were my focus group, my business plan, and my motivation.

Build a unique brand. Schmidt's Naturals stood out in the market through its distinctive branding, from unique scent combinations to eye-catching packaging. The company invested in professional design and marketing to create a modern, appealing image that resonated with consumers seeking natural products.

Engage with customers. Schmidt prioritized customer feedback and engagement throughout the company's growth. She used social media, email marketing, and in-person events to maintain a strong connection with her audience. This direct line of communication helped inform product development and build brand loyalty.

• Brand-building strategies:
  • Developed unique scent combinations (e.g., Bergamot + Lime)
  • Invested in professional packaging and design
  • Maintained an active social media presence
  • Incorporated customer feedback into product development
  • Created a community around natural products and sustainability

4. Navigate partnerships and investments wisely

I wasn't naive; I understood Schmidt's would probably represent only a small piece of their business efforts and attention, while of course for me it was everything.

Choose partners carefully. As Schmidt's Naturals grew, Jaime faced decisions about partnerships and investments. She entered into a partnership that gave up 50% equity in the company, which brought both benefits and challenges. This experience highlighted the importance of carefully vetting potential partners and clearly defining roles and expectations.

Maintain control of your vision. Throughout partnerships and investment discussions, Schmidt worked to maintain control over the company's direction and values. She remained committed to natural ingredients and sustainable practices, even when facing pressure to compromise for faster growth or higher profits.

• Lessons from partnerships and investments:
  • Thoroughly vet potential partners and investors
  • Clearly define roles, expectations, and decision-making processes
  • Protect the company's core values and vision
  • Be prepared for the challenges of shared decision-making
  • Consider the long-term implications of giving up equity

5. Scale operations while maintaining product quality

Making was now manufacturing.

Adapt production methods. As demand for Schmidt's products grew, the company had to transition from small-batch production to large-scale manufacturing. This required investing in new equipment, hiring additional staff, and developing more efficient processes.

Maintain quality control. Despite the pressure to scale quickly, Schmidt remained committed to maintaining product quality. She worked closely with contract manufacturers to ensure that her formulations were produced to her exacting standards, even when production was outsourced.

• Scaling strategies:
  • Invested in larger production facilities and equipment
  • Hired and trained additional staff
  • Developed relationships with contract manufacturers
  • Implemented quality control processes at every stage
  • Balanced in-house production with outsourcing to meet demand

6. Adapt to market demands and expand strategically

Customers wanted to smell like Schmidt's from head to toe.

Listen to customer demands. Schmidt recognized the potential for expansion beyond deodorant based on customer feedback. This led to the development of new product lines, including soaps and toothpaste, which allowed the brand to capture a larger share of the personal care market.

Research and develop thoughtfully. When expanding into new product categories, Schmidt applied the same level of care and attention to detail that made her deodorants successful. She conducted extensive research, developed unique formulations, and ensured that new products aligned with the brand's natural and sustainable ethos.

• Strategic expansion steps:
  • Identified customer demand for additional products
  • Researched new product categories thoroughly
  • Developed unique formulations for soaps and toothpaste
  • Ensured new products aligned with brand values
  • Leveraged existing customer base and distribution channels for new product launches

7. Balance personal life with entrepreneurial ambitions

Even though it had been a gradual process of letting go and accepting that I couldn't possibly control all of the moving pieces of the company, it was still difficult.

Prioritize family time. Throughout Schmidt's entrepreneurial journey, she made efforts to balance her business responsibilities with family life. She established routines, such as nightly bedtime rituals with her son, to ensure quality time with family amidst the demands of running a growing company.

Recognize personal limits. As the company grew, Schmidt learned to delegate responsibilities and bring in experienced professionals to manage various aspects of the business. This allowed her to focus on her strengths and maintain a healthier work-life balance.

• Work-life balance strategies:
  • Established consistent family routines
  • Delegated responsibilities as the company grew
  • Hired experienced professionals for key roles
  • Learned to let go of micromanaging every aspect of the business
  • Sought opportunities for personal growth and reflection (e.g., trade mission to Japan)

8. Prepare for acquisition or exit opportunities

I knew we needed cash to sustain the business, but selling it outright had never been part of my thinking.

Consider all options. As Schmidt's Naturals reached a critical growth point, Jaime began to explore various options for the company's future, including seeking investors, selling to a larger company, or potentially going public. Each option presented unique opportunities and challenges.

Prepare for due diligence. When acquisition became a serious consideration, Schmidt and her team had to prepare extensive documentation and undergo rigorous due diligence processes. This experience highlighted the importance of maintaining organized financial records and clear business practices throughout a company's growth.

• Acquisition preparation steps:
  • Explored various funding and exit options
  • Organized financial records and business documentation
  • Underwent due diligence processes with potential acquirers
  • Negotiated terms to protect the brand's values and employees
  • Considered personal and professional goals in decision-making

Last updated: August 9, 2024