a celebration of women in small business. the owner of a company that makes bath and body products sees the wisdom of marketing to the middle. the woman behind spanx becomes a billionaire, and a mom preneur pitches her line of baby bibs. women and business is coming up next. ♪ small businesses are revitalizing the e kconomy, and american express open is here to help. that is why we are proud to present "your business on msnbc."

hi there, everyone. i'm j.j. ramberg and welcome to "your business" where we give you tips to help your business growth. this is international women's month and oso so the focus is to help women succeed in their businesses and how to achieve and overcome obstacles. and our first story is about a woman who understood that the market had a hole, and she 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 myers didn't intend on selling her organic bath and

body line infusia in grocery stores. >> we really thought about who our customer is, where they are at, and what they can afford. >> but that is exactly where the lotions, handmade bath balms and homemade bath salts have ended up. >> it has been a good choice for us. >> infusia which is from woodland, texas, was inspired by bath spas in mind. afterall, that is her background after having worked for big brands like chanel and elizabeth arden. >> that is all the background i knew with prestige and certain level of snob appeal, and i really wanted to go after that. >> it was during her conversations with recognizable brand names she was dealt a little blow to her entrepreneurial ego. >> i was told that the products were not high end enough, and that the price point was not high enough, and that is quite devastating frankly, but then i took it as a blessing. i said, you know, this is

amazing, because now i can focus on the area that i'm wanting to concentrate on. >> going forward it became myers' plan to make sure that enfusia's products were available to as many people as possible. >> affordable luxury is to afford the best product we can, and once we decided to make it affordable luxury for everybody, it became a real simple, i guess a nof-brainer for me as a business owner. >> meyer says she has made a conscious effort to market to the customer in the middle. >> we do not seek out the high end and we do not seek out the low end. >> working with grocery stores like whole foods and h.e.b., the products are seen by countless shoppers everyday. >> i quickly realized that in order to be a real business, i need volume, and the only way to do that certainly for us was to be in a space where you would have a larger audience. everyone has to go to the grocery store sooner or later.

on a grocery channel, you could have hundreds of people coming through the doors at any moment. >> with so many potential customers, myers knew that her products needed to stand out. the first way was through pricing. even though the high end retailers said that enfusia's prices were too low, in reality, they were good for grocery stores. >> our prices range from $4.99 to the high end of $10.99. we try to keep everything under a retail of $10. >> the company founded in 2005 has not really raised the prices, but that decision has not been easy. >> the most difficult aspect of dealing with grocery in general is keeping the price point where it needs to be. we really have had stuck to our guns on that. we don't want to cross over that $10 price point. >> pricing isn't the only concern. enfu zxia has had to pay close attention to the packaging. in the grocery channel, the hope is for clients to look at the product, and know what it is and

how to use it with little explanation. >> when we send it out to the grocery store, we are not giving it to the customer, and it has to sell itself. we are not there to tell someone how to use it, and if they like it, they will buy it, and if not, they will move on. >> and now the owner of hubbel and hudson who carries the products says that the focus on pricing and packaging has been a draw for his customers. >> people consume with their ice as much as they do the content of the package, so packaging is important in the health and beauty aids, it is a strong brand and best sell er in ter i health and beauty aid section. >> and the allegiance that consumers have shown to the products has bee been a focus. >> it is a focus for us, because they are focusing on us, so it is a reciprocal relationship. the middle has a loyalty to

products that the high end never will. >> with enfusia servicing 75 stores, myers has the sights set higher, but she wants to have the company grow in a controlled manner. she is marketing to the middle, and that is the consumer base that will continue to get the company's attention. >> when you look at the brand focus and where we are and how we want to grow, it does not make sense to be everything to everyone, and i truly believe that one of the most valuable things that you can do as a business owner is to decide what it is that you want to be and just stay focused on it. as we just saw in that piece, narrowing in on who your customer is incredibly important. let's turn to the board of directors this week. we are joined by a entrepreneur and also an editor of, inc.com.

you just started a new company? >> yes, a news letter for crazy time businesswomen, and we have great interviews and stuff to make ur life easier. >> we will check it out. congratulations on the company and the sale. fantastic news. >> thank you. >> both of you guys are focusing in on a particular customer, and lot of people start businesses, and they believe that their customer is everybody, and how important and hard for you to narrow in on exactly. >> we thought that the original consumer was going to be 18 to 34, and we ended up being completely wrong. the core customer was 25-45. so what i really recommend is doing exactly what i did and come up with the cohesive brand, logo, packaging and price point for what you want to build, what you want to create and what you feel that there is a market need for and let the customers sel self-select and figure out what customer segment you are going after and then use specific marketing channels to reach those customers. >> that is interesting, right,

because then you have the tweak it. for instance in the piece, packaging for saks is going to be different than packaging for the supermarket. >> i totally admire she said this is a high-end product and when she got different feedback, she said, oh, well, the customer is somewhere else and she did not bang her head on the wall for a market that would not come to her, and she had the realization to come to a belterer way. when we talked to people about the news letter we thought the market was women with small kid s or big jobs but it turned out people just entering that phase. we thought it was women coming out the other side, but she is change and building a great business with a new focus that she is diligent about going after to, so hats off to her. >> and you have to refine and figure tout core customer and then figure out how to multiply marketing to that customer. >> yes, and don't get so weighted in, because you might have wanting to be tied into a

world with high-end prestige attached to it, so get your ego out of it a little bit if it is attached at all and this is my market and grow it more. >> and they say if you want to hang with the classes, sell to the masses. >> and to catch fire in the marketplace is the case for sarah blakely, the woman behind spanx. she became the first youngest self-made billionaire to make it to the forbes list. we caught up with sarah to find out what she felt were the key elements to her success. >> yeah, you know, it is funny, because i always say, be careleful about telling your friends and family your idea right out of the gate, because your friends and family have the best of intentions for you, but oftentimes, 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 any of my immediated friends and factual i what the actual idea was, and that is helpful and part of the reason that spanx exist, is because by then, after hearing all of the love and the concern and the objections didn't stop my path. ♪ take one step at a time ♪ there's no need to rush >> if you are on a limited budget i always give people the advice to get the prototype made and make sure it can be mass produced. that is the most important place to put your money there, and the packaging and the marketing of it. you have to be different and make it stand out, and worry about the patent and protecting yourself later. you have to spend the money to be first to market. with the spanx packaging, i took a different approach, and the whole industry had beige and gray and white packaging with the same half naked woman on every package and i went bright

red and put three animated cartoon-looking women on the cover of the spanx package. i think that women just 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 also just knew that i didn't have money to advertise so when i got the one chance for shelf space, it needed to be different and jump off of the shelf and say, i'm different, check me out ♪ that don't kill me can only make me stronger ♪ >> it is funny, because one of the smartest things i have done since i started spanx is to hire my weaknesses. i hired a ceo to run the day-to-day operations at spanx, and she is fabulous at it, and that is not my core strength. my core strength is marketing and coming up with the sales for the company, and that frees me up to do that which is my best p asset for the company. it is a hard thing to do to let

go of some control, but i really think that most entrepreneurs need to get to that place in order for the business to get to the next level. ♪ i want to be famous ♪ i want to be on the magazin magazine ♪ >> the first celebrity to hold up spanx and say i love it is oprah. >> i have given up panties, and i wear spanx. >> how that happened is that after i invented it, i got the first batch sitting in my apartment in atlanta and i hand wrote a note to oprah and sent her a gift basket of them and found out that the stylist put them on her and she has worn them pretty much every day since, so that is how i first broke in and got my opportunity to have someone as amazing as oprah say to the world, i got my spanx on. >> even if the savviest women entrepreneur needs help on the way, and if you are looking for

a network of like-minded women, check out our site. international women startup.com gives you access from networking events to press opportunities. startupprincess will pair you with more experienced mentors who 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. and a mompreneur looks for investors for her new multifunctional baby bib. 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. opened up the first sammys in 1966, and my employees are like family. i want them to feel like they are sharing in my success, and

we opened up the credit card to pass the points along to my employees to go on trips. when my employees are happy, i'm happy. if you are looking to secure funds for your startup what are the best options? it is not that easy to just go to the bank to get a loan these days, so today's guest has tips on new ways to find money for your business. jennifer hill is an attorney at gunderson detmer and she represents venture capital adventures. so everyone is always asking, where do you get the money? and here are the unusual places that you might not think of. your clients? >> yes, the clients. look at the people you are targeting for customers. if you are in the process of

building the products there are customers who want advanced access to the customer in exchange for a discount on the product. you don't have to wait until the product is completely perfect to go after the customer base. >> so you are asking them to invest or pay up front? >> yes, exactly. some corporations have investment arms but you want nem as a client, because it proves the model and proves that someone is willing to pay for it early and that is great segueing into the market and as well as outside investors. >> the next is engage in industry trade. >> yes, the fashion industry is notorious for this, and there are young upstart designers who get photographers to give them lookbooks for free in exchange for clothes. maybe you know a designer who needs a rehearsal dinner done but on the cheap, and think of the ways in which your product can benefit the people that you need to work on the business and you might find that you can get things below market or for free by trade. >> so you are not getting money,

but you need the money to get it for free. >> you are lowering the startup cost costs. >> yes, and different is to monetize the beta product. >> yes, the beta product is when you are not fully ready to release, but a limited trial to go on and there are lots of way to monetize it. the first of course is to ask people to pay for it, but the best thing about beta on it is to let people know that you are working on it and you can try out different business models. and look at the day that the you are collecting that may be beneficial for a company, and you can give background about who is part of the beta. and the other thing is that corporate sponsors are looking for subtle ways to advertise, so instead of a banner or splash page in the back, maybe ways to work in virtual goods or virtual brands into it, so you are getting a little bit of money to testing out and making sure that the product is the best it can be. >> got it. and then finally, find off of the radar angel investors.

people say, i know i need a angel investor, but i'm not in tech and how do i find somebody who would be willing to invest in what i do, but don't belong in an angel group, and primarily the high investment companies. >> well, look for the luminaries who are the early funders of business in that space. and look for people who are high net worth, but not at all involved in it. i know a number of companies who have raised money from doctors and lawyers and real estate professionals who want to diversity portfolios burk not in that interest. and the third place to look if you are a socially conscious business is philanthropic organizations, because there may be some who instead of donating to 501c may be interested in for-profit venture with a social purpose. >> okay. thank you, jen. >> thank you. over the years we have reported on a number of moms who have started a number of

businesses to help the parents out. that is the case today with the elevator pitch, and that is a mother with a teething baby led her to a new product. >> i'm bridget and owner of wow baby. we have a multifunctional bib sold in stores and online. the patented design is based on my solution to help with my son's excessive drool. it gives you more value o of the bib. they gre wiow with the baby and only bib that changes to a teething bib with the waterproof cover. it saves the mother mother from buying multiple bibs, and the bibs are a staple baby product. we estimate next year the sales to be $240,000, and with 1.2 million in sales by year end five. we are asking for $130,000 in investment with investment that will bring in industry expertise to help grow the customer base

and grow in markets, thank you. >> bridget, you passed the are you going to be distracted. very nice. hi, sweetie. so fantastic job. i love that it is a billion dollar industry and i feel like i have spent that on my baby. you are talking to the right person now, and how did she do in the pitch? >> i think a good job. i know it is a big industry, but you should narrow down what bibs are, because that is the most relevant piece of data to know how much money people are spending on bibs. >> $10 billion. >> just on bibs? >> yes. the whole industry is $9 billion and so when we do the math, and the staple baby products about ten of them, bibs, blankets, sleepwear and if you look and break it down, and we did some averages there, and it is 9. -- something and we rounded it off to $10 billion, and that is bibs and others. >> and a couple of things missing from the pitch is the price point and competition, and that is what you want to address so that the investors understand, but overall, what i

like about a successful businesses is a problem and solution. i like that there is a problem and you are solving it, and those are the most successful businesses. the best way to demonstrate that is through video, so i highly recommend on the website or thinking about potential informercial advertising show the problem and the solution and it will resonate with the customer. >> and kimberly, you have bought a lot of bibs in the past. >> yes, and so i had a couple of questions. you know, one, it sounds like you have achieved a pretty good revenue number, and so i'd want to know sort of who you have on the board of advisers who knows the industry well who is helping you grow, because you said that part of what the money is for is to bring in expertise and then i wanted to know is this bibs or does it expand into other products? >> okay. yes. >> and based on what you heard, if she added in what she said, would you take another meeting? >> i would. >> yeah, i would take another meeting. i think they are nice and i would be interested in hearing how the company can grow. >> i like the designs, too. i think that you did a nice job

with that. >> all right. bridget, congratulations and good luck with everything, and thank you to the models. you did a great job. and thank you for everything. if any of you have a product or service and you want feedback from the elevator pitch panel for tips on getting investors send us an e-mail. business@msnbc.com. and you never know, someone out there watching the show may be intere interested in helping you. it is time to answer some of your business questions. we are bac with the panel again, and the first one is john who writes s there some formula that gives the approximate return on advertising and so if i spend a certain amount of money, is there a way to predict the number of responses? >> test, test, test. >> the numbers will vary by medium, audience and by what your kind of product is and the segment is and by what the industry is. you need the test and figure out

what are you trying to get out of this? if you are trying to get brand awareness out of the advertising is different from lead generation or actual sales. then you need to test and find out what works for you. even if you find out well, my industry benchmark is this, it won't do you any good if it is not the same thing that you need and your advertising is not getting you there. test, test, test. track, track, track. >> and the thing about this is that we get questions about the medias that we are spending on p.r., and the beauty is that once you find something that works, throw money at it, because you know what to get back. >> and you should have a goal from day one. for us some of the goals are visits to the site, registrations, and people registering for an account on the trend.com and purchases on the trend.com, and we have pixels you can use in modern day to track the indices and put money in specific marketing channels whether it is facebook, twitter, online, e-mail marketing or whatever it may be and watch and see what we call

the cpa, which is the, you know, the cpa for registration, and the cpa for purchase and then once you know what the numbers are, you know where to put the money. >> exact ly, and keep putting te money there as long as you get a good return on it. okay. the next one from ben. he writes we are in a 24/7 economy and always connected via smartphone and i find myself replying to clients late in the night. we want to have give service, but how can you do that with balance between the personal and the professional life? >> i don't know anything about balance so i go after everything full force. when you start a business it is a 24x7 job and you have the give it the 300% and really just be passionate about what you are doing and try and get as much progress as you can. in the later years, there is plenty of time to chill and relax and do all of the wonder wonderful things that you want to, so especially in the early

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

i don't know how you feel about that? >> i feel strongly about it. i feel if you pick a channel that works for you and you have tested both the free viral organics a spects of that social media channel and the paid aspects so using facebook ads and having a fan page and putting the viral organic and authentic content on it or the same thing with twitter and building the conversations on twitter and doing promoted tweets and final a channel that works for you and put the money in it, and check and see how the results are working, and really spend your time and energy building an awe thuthentic bran voice and personality on that channel. google plus, don't underestimate how big it s. over 100 million on that and 600 million impressions on that channel a day, and it is a channel to think about particularly in search. >> and there is another thing that you have to be aware of with google plus, because even if you find out that your customers are not on it and your customers are going through google or pintrest and if

someone prints up something in google, you want your business first, so google plus will contribute to your ranking on google. on twitter and facebook, won't do a thing for it, because google won't let them crawl properly, so you have to figure out how to fit into a social media strategy and if page rank is important to you, then you have the take google plus more important than otherwise in this point of the development. >> thank you for the advice and helpful as always. if you have a question for the experts go to the website, and the address is open for um.com/your business and there hit the ask the show link and submit a question to the panel, and the website is open for forum.com. the address is yourbusiness@msnbc.com. talented female

entrepreneurs are leaving their mark on everything from online video to health care. here are five women to watch in tech courtesy of inc.com. the creator of buzzy which takes the sting out of shots. without any advertising the all-female company has sold 11,000 units since 2009. and also, aditatarko who started a home remodeling business that is an app that gets 3 million unique visitors a month. and three, is clara shih who created the first application on facebook and wrote a new york times best seller and here she is showing promise. four, michelle zatlyn is creator of cloudfare which is using personal blogs to fortune 500

companies. and five, is leah busque the creator of taskrabbit for outsourcing errands and tasks. they see $4 million in economic activity each month. to learn more about the show today click on the website which is open forum.com/your business. you will find all of the today's segments and web exclusive content with more information to help your business grow. and don't forget to become a fan of the show on facebook. we love to get your feedback. you can also follow us on twitter. it is @msnbc.com. and also coming up is on the brink. >> it is our business and it is suffering, because we are having things that are not availed to us that other industries have.

>> and for bet eer or for worse our team of experts vow to get this wedding dress company back on track with a very special "your business makeover." until then, i'm j.j. ramberg and remember we make your business our business. 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. seven years ago i had a idea to make baby food the way moms would. and merchants that sell ourgrow our sweeproduct.es vo: get the card built for business spending. call 1-800-now-open to find out how the gold card can serve your business.