Episode 220 | Unlocking Profitability in Your Etsy Business

In this episode, Dylan sits down with Ciara Stockeland, a seasoned entrepreneur and profit strategist. Ciara shares her journey from running a successful boutique business to facing significant financial setbacks and ultimately finding her way back to profitability. 

They discuss key principles of corporate e-commerce that apply to Etsy, the importance of focusing on profitability over top-line revenue, and strategic steps to manage debt and increase margins. 

Ciara also explains her Inventory Genius framework and offers actionable advice for small business owners at various stages of growth. Listeners will gain valuable insights on financial strategy, inventory management, and the importance of understanding one’s financials to build a sustainable and profitable business.

In this episode, we discuss:

[02:13] Rebuilding with a Focus on Profitability

[05:46] Helping Others: The Birth of a Coaching Program

[07:21] Understanding Financial Strategy for Small Businesses

[09:54] The Role of a Contract CFO

[12:03] Tailored Financial Strategies for Different Business Sizes

[13:24] Reviewing Financials and Board Meetings

[13:52] Importance of Early Financial Planning

[14:24] Maximizing Business Value for Exit

[15:26] Creating a More Profitable Business

[17:05] Leveraging Margins and Operating Expenses

[18:14] Understanding the Inventory Genius Framework

[19:31] Dealing with Business Debt

[20:40] Common Mistakes and Solutions

Connect with Ciara:

Website: www.ciarastockeland.com 

Instagram: https://www.instagram.com/inventorygenius 

About Ciara Stockeland: 

Ciara Stockeland, is a speaker, author, 4x Ironman and Fractional CFO for inventory based businesses. Ciara has owned and operated a business since her early teens. As a serial entrepreneur, her business mindset and tenacity led her to opening her first store in 2006 which she then franchised.

Her vast experience in both retail and wholesale industries led her to launch the first to market wholesale subscription box for boutique retailers, which she built and sold within 18 months. Most recently Ciara has launched the Inventory Genius, a consulting program for inventory-based business owners. 

She has twice had the opportunity to testify before two U.S. Senate Committees regarding the “joint employer” standard for businesses and its effect on small businesses and franchises.  Additionally, in 2015 she represented small businesses at a White House Summit on Worker Voice and again in 2018 for a Summit on Economics. 

Ciara has been recognized as a Small Business Champion through SCORE, has held a seat on the United States Chamber of Commerce Small Business Council and is a Profit First Certified Coach.  Through her consulting program, Ciara gives business owners the confidence and tools to build profitability and peace of mind in their inventory-based businesses.  

In her free time, Ciara enjoys training for endurance races and most recently completed her fourth Ironman at the Ironman World Championships in Kona, 2023. She currently resides in Tennessee with her husband Jim and her Great Pyrenees Bentley.