Erick Straghalis is a creative, brand and marketing strategist with more than 16 years of experience. He currently works for StitchDX, a brand and digital marketing agency in Boston, Massachusetts, assisting businesses and non-profits to define and align strategy, drive innovation and accelerate growth.
Erick, his wife Elizabeth and sister in law Esther, launched a Fair Trade Subscription Box service in 2012. Fair Treasure partnered with mostly women-run cooperatives from around the word to deliver beautiful handmade goods to monthly subscribers. The service grew attracting over 2,400 subscribers and made close to $100K in revenue. Due to a few strategic mistakes and the inability to juggle family, jobs, and a side business, Erick and his family decided to shut down the service in late 2015.
Show Notes
- Erick’s full-time career [1:20]
- Why he wanted to start his own side business [2:00]
- What is a Fair Trade Subscription Box Service [5:20]
- The story behind developing a business focused on fair trade [7:50]
- Steps Erick took to launch his business [11:30]
- The subscription box service model and how they got their first subscribers [15:00]
- Two major expenses for a subscription box company [17:10]
- Running a business with your family [23:50]
- Determining the subscription value vs. actual value [28:30]
- The importance of attracting the right customers for your business [32:00]
- Three steps to start your subscription box business [37:40]
Tips
- Use freelancers along with software and technology already available for support [13:40]
- Bloggers can be used to advertise your product [22:25]
- Know your target audience, where they are, and try to connect with them [36:45]
- Be able to define who you are and align that with what you want to do [38:50]
About
- Principal at StitchDX, a brand and digital marketing agency
- In partnership with his wife Elizabeth and sister in law Esther, launched and managed a Fair Trade Subscription Box service
- Service attracted over 2,400 subscribers and made close to $100K in revenue
Contacts and Links
Erick.Straghalis AT stitchdx.com
Listen to the Show
Ike AT TheSideBusinessShow.com