a celebration of women in small business. the owner of a company that makes bath and body products, seizes the moment, and a mom intrapreneur. that's next on "your business."

hi, there, everyone. i am j.j. ramberg, and welcome to "your business." the drive to succeed, and the determination on overcome obstacles and their success stories. we start with a woman that created a bath and body line. she understood the market had a hole and set out to fill it. >> we do not focus on the high end at all. we really have an amazing quality product that we want accessible to as many people as possible. for me as a business owner, i want to have a product that is where you are as a consumer. >> debra meyers did not intent

on selling her product in grocery stores. >> we thought about who our customer is, and where they are at, and what they can afford. >> but that's exactly where her lotions and hand blended salts and hand soaps ended up. it was originally made with high-end shop boutiques and shops in mind. after all, that was her background, her big brands. >> that was the only dog i knew. it was all about prestige. it had a certain level of snob appeal and i really wanted to go after that. >> it was during her conversations with recognizable brand names that she was dealt a little blow to her ego. >> i was told the products were not high end enough, and the price point was not high end enough, and that was

devastating, quite frankly. and then i took it as a blessing, because i thought i can focus on the area i want to concentrate on. >> she wanted to make sure the products were available to as many people as possible. >> affordable luxury is about providing the best quality product that we can. once we decided we wanted it to be affordable luxury for everybody, it became a real simple -- i guess a no-brainer for me as a business person. >> she made a conscience effort to market to those in the middle. >> we do not seek out the high end or the low end. >> working with grocery stores like whole foods, her products are seen by countless shoppers every day. >> i quickly realized in order to be in real business, i need volume. the only way you can do that, certainly for us, is to be in a space with a larger audience.

everybody has to go to the grocery store. >> with so many potential customers, meyers knew her products needed to stand out. the first way was through pricing. even though high-end retailers said the prices were too low, in reality they were good for grocery stores. >> our prices range anywhere from $4.99 to $10.99. we try to keep everything under a retail of $10. >> they have not raised their prices, but that decision has not been easy. >> the most difficult as speblgt of dealing with grocery in general is keeping the price point where it needs to be. we really have stuck on our guns on that. we don't want to cross over the $10 price point. >> pricing is not the only concern. they had to pay tkpwhroclose at to packaging.

>> when we send our products out to the grocery store, we're not giving it to the customer, it has to sell itself. we will not be there to tell somebody what it is or how to use it, and if they don't like it they will move on and if they like it they will buy it. >> and the focus on pricing and packaging has been a draw for his customers. >> people eat with their eyes and consume with their eyes as much as the content of the items and the packaging is super important, and it's a strong brand and the best selling brand in the health and beauty section. >> and what helps it is the allegiance many customers has shown to the products. >> the middle has more brand loyalty than any other category. for us to focus on them because they are focusing on us, it's a very reciprocal relationship.

the middle has a loyalty to products that the high end never will. >> and she wants to make sure the company grows in a controlled manner. she has found success in marketing to the middle and the customer base that will continue to get the company's attention. >> when you look at where we are and how we want to grow, it doesn't make sense to be everything to everyone. i believe one of the most valuable things can you do as a business owner is decide what it is you want to be, and just stay focused on it. as we just saw in that piece, narrowing in on who your customers are is very important. let's welcome our guests. kimberly is editor at large at

ink.com, and you just started a company, too. >> i did. it's called one thing new. it's a news letter for professional women. we have interviews -- >> awesome. >> we will check that out. congratulations to you on your company, on the sale. fantastic news. >> i want to start with you. both of you guys are focusing in on a particular customer. how important is it and how hard was it to narrow in on exactly? >> our core customer ended up being 25 to 45, and what i recommend is do what i did and come up with the cohesive brand, logo, packaging, and allow the customers to self select and figure out what customer segment you are going after and then use specific marketing channels to reach those customers.

>> that's interesting. then you have to tweak everything. packaging for sacs fifth avenue is going to be different than for a supermarket. >> when she got different feedback, she said our customer is actually somewhere else and she did not bang her head against the wall for a market that would not come to her. when we talk to people about the news letter, we thought the market was those that had small kids or big jobs. turns out it was the women entering that phrase. we thought it would be people coming out the other side. so she's changing and building a great business with, you know, a new focus that she is really diligent about going after. hats off to her. >> and test refine, and when you figure out who your core customer is, figure out how to multiply marketing to that person. >> in this kind of thing, there may be emotional attachment to

being in a high-end store -- >> that was her background. >> to be able to say, get your ego out of it if it's attached and say this is my market. >> if you want to hang with the classes, you have to go with the masses. the woman behind the slimming undergarment phenomenon, spanx. we caught up with her a while back to find out what she thought were the key elements to her success. >> you know, it's funny, because i always say be careful about telling your friends and family your idea out of the gate, because they have the best of intentions for you but often times hearing their love and

concern, you know, right up front can stop people in their tracks. so for me, i waited an entire year. i worked on spanx at night and on the weekends before i told my friends and family what the idea was, and that's really helpful and part of the reason why spanx exists, because then by hearing all their love and concern and objections did not stop my path. if you are on a limited budget, i always give people the advice, get the prototype made and make sure it can be mass produced, and that's the most important place to put your money there, and in the packaging and marketing of it. you have to be different and make it stand out, and worry about the pattant and protect yourself later. with the packaging, i took a different approach. the whole industry had beige and white and gray packaging with

the same woman on every package, and i went bright red and put three animated cartoon-looking women on the cover of the package, and women really responded to it. i wanted it to feel like a gift and not a commodity to myself that i had to go buy. i knew i did not have money to advertise, i needed it to say i'm different, check me out. you know, it's funny, because i think one of the smartest things i have done since starting spanx is hire my weaknesses. i hired a ceo to run the day-to-day operations of spanx. that's not my correspondent strength. my strength is coming up with the ideas for the company, and that frees me up to do that

which is my best asset for the company. it's hard to let go of some control, but i really think most intrapreneurs need to get to that place for their business to get to the next level. ♪ the first celebrity to actually hold up spanx to hold it up and say i love this. it was oprah. right after i invented it, i had my first batch and i hand wrote a note to oprah and sent her a gift basket, and her stylist put them on her and she put them on and has worn them every since. and that was my first opportunity, to have somebody as amazing as oprah to say to the word, i have got my spanx on. >> even the savviest intrapreneur needs help on the

way. check out the website of the week. start up princess.com is a network that offers women intrapreneurs to grow their business. membership is free and gives access to networking events to press opportunities, and they offer a mentoring program that will pair you with more experienced group members that can share tips and advice. speaking of startups, still ahead we will look at what you can do to get funding for your startup business. a mom intrapreneur looks for the baby bib. shazi: seven years ago, i had this idea. to make baby food the way moms would. happybaby strives to make the best organic baby food. in a business like ours, personal connections are so important. we use our american express open gold card to further those connections.

last year we took dozens of trips using membership rewards points to meet with farmers that grow our sweet potatoes and merchants that sell our product. vo: get the card built for business spending. call 1-800-now-open to find out how the gold card can serve your business. if you are looking to secure funds for your startup, what are your best options? it's not that easy to go to a bank and get a loan these days. jennifer hill is a venture attorney, and she represents emerging growth companies and venture capital investors. >> thank you, j.j. >> everybody is asking where we find the money. let's get to this unusual places, or places you might not think of. your clients? >> yes, look at the people you are targeting as customers.

you might find there are customers willing to get advanced access to the product that will give you feedback and perhaps a discount on the product. you don't need to wait until your product is perfect before going out to your customer base. >> you are asking them to invest or pay up front? >> you want them as a client because that proves your model and proves somebody is willing to pay for it early. >> let's go to the next one. engage in creative industry trade. >> yes. there are young up start designers getting models and photographers to get looks for them for free in exchange for clothes. maybe you know somebody that needs a dinner party, and think about all the ways your product can benefit the people you need to work on your business and you may find you can get things below market or for free by

trade. >> you are not getting money, but you don't need it because you are getting stuff for free. >> yes, lowering the cost. monetize the beta product? >> yes, when you are not fully ready to release but you have a trial ready. the great thing about putting beta on it, people know you are working on it, and the other thing is think about the data you are collecting. that may be useful to a sponsor or somebody else outside the company, and you can give a good background of who is part of the beta. the other things, corporate sponsors are looking for subtle ways to ties, and there may be ways to work with other goods and brands into it so you are getting money while you are testing out and making sure your product is the best it can be. >> finally, find off the radar,

angel investors. a lot of people ask us, i want one but i am not in tech. how do i find somebody willing to vest in what i do and they do not belong to somebody that invests in some companies? >> there are off sun some of the first people to be early funders in that space. look for people high net worth but not involved in it. i know a number of companies that raised a lot of money from real estate professionals and doctors and lawyers, and they want to diversify but are not in that industry. and there may be some interested in sted of donating money would be interested inputting it for a for profit venture that as a purpose. >> thank you. overt years we reported on a number of moms that started

business to help other parents out. that's the case today with the elevator pitcher. >> hello, my name is bridgeit and i am the owner of wow, baby. we make bids sold in stores and online. it's based on my solution to help with my son's excessive druel. if an bibs are a staeupable baby product, we estimate the sales to be 1$1.2 million. this would bring industry expertise to help us grow a customer base and get into new

matters. thank you. >> you pass the are you going to be distracted -- very nice, hi, sweety. so fantastic job. i felt like i spent that on my baby. you are talking to the right person right now. how did she do in the pitch? >> i think she did a good job. i know it's a good industry, but you should narrow down what bibs are. >> $10 billion. >> just on bibs? >> yes. >> when we do the math -- >> that's a lot of bibs. >> bibs, blankets and sleep wear. if you break it down, and there are averages, it's 9 point something, and we ran it off to 10. >> the price point competition, those are things you want to throw in the pitch, and about

it, most successful business, problem solution. there is a problem, you are solving it. those are some of the most successful businesses. and the best way to demonstrate that is through video. i highly recommend on your website or anything about potential infomercial advertising, show the problem and solution. lit resonate with the customer. >> you bought a lot of bibs. >> i have a couple of questions. you know, one sounds like you achieved a good revenue number and so i want to know who you have on your board of adviser. that knows the industry well and helping you grow. because you said part of what the money is for is to bring in expertise. then i wanted to know is this bibs or expand into other products? >> based on what you heard, would you take another meeting? >> i would. >> i would take -- yeah, i would take another meeting. they are very nice. i would be interested to hear how the company can grow. >> i like the designs.

you did a nice job with that. >> congratulation congratulations. good luck with everything. thank you, guys, for everything. appreciate it. and if any of you out there have a product or service and you want feedback from our elevator pitch pan ol' your chances of getting interested investors, all you have to do is send us an e-mail. you never know, somebody out there watching the show may be interested in helping you. time to answer some of your business questions. the first one from john. he writes -- is there some formula that gives the approximate return on advertising? merds if i spend a certain amount of money, is there a way to predict dollar amount or number of responses? test, test, test. >> i mean the numbers are going to vary hugely by audience, what your product is, what your segment is, by what your

industry is. you need to test and figure out what are you trying to get out of this. if you are trying to get brand awareness out of your advertising, that's a lot different than if you are trying to get lead generation or actual sales. then you need to test and find out what works for you. even if you find out that mine industry benchmark is this, something to -- not going do you any good if that's not the same thing you need and if your advertising isn't getting you there. just test, test, track. >> beauty of the internet. what i love about this, we get so many questions about medias we are spending money on pr, beauty is once you find something that works you need to throw money at it because you know how much you are going to get back. >> you really should have a goal set out from day one. goals that we have are visits to is site, registration, people registering and purchases. so we have pixels which you can use in modern day and track these lee activities and you put money into pacific bargaining channels, facebook, twitter, online, e-mail marketing, whatever it may be and you

actually watch and see what the -- call the cpa which is, you know, the cpa for registration and cpa purchase, and hen once you know what the numbers are, you know where to put the money. >> did you keep putting money there. >> getting a good return on it. >> okay. let's move to the next one. this is from ben. we are in a 24/7 economy. we are alwaysected via smartphone. i find myself replying to client e-mailing late into the might. how can you provide good service and still maintain a balance between personal and professional life? what do you think? >> i don't know anything about balance. so -- i go after everything full force. i strongly believe that when you start a business, it is a 24/7 job. and you have to give it your 300% and really just be passionate about what you are doing and try to get as much progress as you possibly can. in your later years there will be plenty of time to chill and relax and do tall wonderful things you want to. especially in material stages when you are building your business, i think it is super

important to public on, be responsive, and to answer client inquiries as promptly, effect e effectively and efficiently as you can. >> you have to think hard are you doing this because the client needs it or are you doing it because you need to feel busy? you know if your client is stuck in an airport at 3:00 in the afternoon his time and 3:00 a.m. your time and he sends an e-mail is he really expecting to get that e-mail back from you 20 seconds later? is he trying to get it off of his plate. i think the writer here needs to take a real look at what does the client actually need and then make sure to be able to provide 100% of the time, full force. >> to the last question. this one about google plus. >> we find the process of twitter and facebook and all of the social networking very time consuming. and now we hear about google plus and we were wondering how important it might be for us to be involved in google plus. >> one thing people always say here is pick one, pick one. and work really hard on that.

expand it. i don't know how you feel about that. >> i feel strongly about it. if you pick a channel that works four and gets tested both the free, viral, paid aspects, using facebook ads and having a fan page and putting, you know, viral, organic, authentic content on it or same thing with twitter. building conversations on twitter and also doing promoted tweets find a channel that works for you and put your money in it and check and see how the results are, you know, working. spend your time and energy building an authentic brand voice and personality on that channel. google plus don't underestimate how big it is. 100 million people on google, plus 6 billion impressions of that but only a day. it is a channel you should think about when it comes to search. >> there is another thing have you to be aware of with google plus. even though right now you find your customers are not on it and you are getting good results, when -- if you are a consumer business, when somebody is -- types in something related to

your business and -- google, you want your business to come up first. the activity that you have on google plus is going to contribute to your ranking of google. activity you have on facebook or twitter is not going to do a thing for it because those companies won't let google call that properly. you have to think about how it sits into a social media strategy, and if your consumer based company and rank is important to you have to take google plus more seriously than you might otherwise in this point in its development. >> guys, thank you so much for all of this advice. helpful as always. and if any of you out there have a question for our experts, all you have to do is go to our website. hi the ask the show link to submit a question for our panel. website is openforum.com/yourbusiness. you can e-mail us your questions and comments. yourbusiness@msnbc.com. talented female entrepreneurs are leaving their

mark on everything from online video to health care. and here now are five women to watch in tech courtesy of ink.com. >> amy baxter. medical doctor and creator of buzzy. a device that takes the sting out of shocks without any advertising the all female company sold 11,000 units since 2009. she and her husband created house, useful tool for anyone starting a remodeling or building project. it is a popular web platform and app that gets 3 million unique visitors a month. three, clara. wrote a new york time bestseller and her 2-year-old start-up is already showing promise. four, michelle zatlin, cloud fair. a spam killer in performance enhancer web service. cloudfare being use bid over 50,000 websites. ranging from personal blogs to fortune 500 companies.

and number five, leah is the founder of task rabbit. website that serves as an online marketplace for outsourcing errands and tasks. website currently sees more than $4 million in economic activity each month. to learn more about today's show click on our website. openforum.com/yo openforum.com/yourbusiness. you will find all of today's contents. more information to help your business grow. and don't forget to become a pan of the show on facebook. we love getting your feedback. you can also follow us on twitter. next week, two brothers and a bridal business on the brink. >> it is our baby. you know. we have been raising it. we have been nurturing it and to see it suffer, you know, because we -- we are not getting the things availed to us we should have that a lot of other industries, you know, have. >> for better or for worse, our

team of experts vow to get this wedding dress company back on track with a very special your business makeover. remember, we make your business our business. sam: i'm sam chernin. owner of sammy's fish box. i opened the first sammy's back in 1966. my employees are like family. and, i want people that work for me to feel that they're sharing in my success. we purchase as much as we can on the american express open gold card. so we can accumulate as many points as possible. i pass on these points to my employees to go on trips with their families. when my employees are happy, my cuomers are happy. vo: earn points for the things you're already buying. call 1-800-now-open to find out how the gold card can serve your business.