248: I Almost Sold My Subscription Box… Until the Numbers Changed Everything with Ciara Stockeland
APR 8, 202654 MIN
248: I Almost Sold My Subscription Box… Until the Numbers Changed Everything with Ciara Stockeland
APR 8, 202654 MIN
Description
In this episode, I’m taking you behind the scenes of my business. How I got to the point of wanting to sell, what changed, and how understanding my numbers completely shifted the direction I was headed.
I invited Ciara Stockeland, founder of Inventory Genius, onto the podcast and into my business to help me take a real look at my numbers. Ciara works with product-based business owners to help them understand inventory, cash flow, and profit in a way that actually makes sense.
If you haven’t heard my earlier conversation with Ciara, you can listen to that HERE.
For years, my business looked successful. And like a lot of entrepreneurs, I believed if there’s money in the bank, everything must be fine.
But I wasn’t paying close attention to profit margins, inventory value, or cash flow. I knew enough to run the business, but not enough to make strategic decisions about its future.
When Ciara and I started working together, we went straight into the numbers. (We joked about it feeling like she was digging through my “panty drawer,” but honestly, that’s exactly what it was.) And for the first time in a long time, I wasn’t guessing anymore.
One of the biggest shifts was finally understanding my profit margins.
Before this, I wasn’t consistently tracking cost of goods, product level profitability, or subscription box margins.
So we added cost of goods to every product in Shopify. We built a monthly subscription box profit spreadsheet. And here’s what surprised me: We didn’t start by raising prices.
We started by asking:
Where are we overspending?
Can we reduce packaging costs?
Can we make better buying decisions?
At one point, I had about $80,000 in inventory sitting on my shelves. That’s not just inventory. That’s cash, just not in the bank.
So I made some big changes: I stopped overbuying inventory. I shifted to just-in-time inventory. I started selling what I already had. And my sales didn’t drop, but my margins improved.
When we separated out my revenue streams, something became very clear:
Subscription boxes = majority of revenue
One-time products = more work, less profit
And yet, I was spending most of my time on the part of the business that wasn’t driving the most return.
At one point, I thought, “I think I want to sell this business.” We cleaned up the financials, worked with a broker, and got multiple offers. It felt like the right next step. Until it didn’t.
During a pause in the selling process, I had space to think. And I realized I didn’t necessarily need to sell the business. I needed to change how it operated.
So I made a plan to move to a fulfillment center, simplify my operations, and focus on subscription-based revenue. And when I ran the numbers I discovered I could increase my profit significantly without growing sales.
A year ago, I didn’t have the information I needed to make that decision. Now I do. And that’s the difference.
If you’re feeling overwhelmed or unsure where to start, focus here:
Get a bookkeeper
Track your profit margins
Add cost of goods to every product
Reduce excess inventory
Make decisions based on real data
You don’t have to overhaul everything overnight. But small, intentional changes can completely shift your business. Sometimes you just need to look at the numbers and let them show you a better way forward.
Where to find Ciara:
Inventory Genius on Facebook
Inventory Genius on Instagram
Ciara Stockeland’s Website
Join me in all the places:
Facebook
Instagram
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