Three tips for growth from Three Ships

How did they grow their business from a side hustle into a booming operation? Laura shares three tips from her experience with MNP’s Yohaan Thommy.

Tip #1: Double down on what’s working

“Early on, we wasted a lot of time and money ‘chasing tennis balls’,” Laura explained.

Laura and Connie were receiving advice from a range of experienced people, and they deferred to their expertise. But those business changes weren’t always the right move.

Instead, Laura says they found success by using conversations as data points in their decision-making and leaning into the things that are working well.

Tip #2: Invest in your product — and stay agile

“Product is king. If you don’t have strong repeat rates, if you find customers try your product and don’t like it, it’s going to be hard to cut through the noise,” Laura said.

Three Ships has consistently invested in their product to ensure it resonates with their target audience. In their early stages, Laura says they couldn’t afford to spend significant capital in their inventory, but that ended up being an asset. They could be nimble and quickly create products that hit the mark with customers.

Product packaging is a good example. Instead of working with a professional printer, they bought a laser printer and a roll of labels.

“This allowed us to iterate, test launch new products, change formulas, or change product names really fast,” Laura explained.

Tip #3: Know your target audience

Committing to a target audience can feel risky because you’re limiting your market, but Laura says it has been critical to their success.

“Get very clear on who your consumer is, and who they aren’t, and don’t try to be everything to everybody,” Laura says.

As they were building the company, Laura says some of her own family members were skeptical of the product. Ultimately, she knew those people are not the target audience for Three Ships and she didn’t get too concerned with their thoughts.

Knowing your audience allows you to get better feedback and build stronger relationships between your brand and the consumer.

The next stage of growth for Three Ships

Purpose is at the core of the Three Ships story. Laura and Connie started the business for a market that wanted to know what was in their skincare products and they want to see more action taken.

“Currently, within beauty, there’s no legal definition for natural and this is really what drives us. We want there to be a standard for natural, and we’re setting that standards,” Laura explains.

“We’re transitioning into a leadership point of view and partnering with government agencies to create a definition for natural.”

Learn more about how Three Ships grew their business by watching our full sit-down interview with Laura above.