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July 31, 2024 14 mins

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What happens when a kitchen experiment turns into a global sensation? Jamie Schmidt, founder of Schmidt's Naturals, joins us to share her incredible entrepreneurial story. From creating body care products in her kitchen to building a brand worthy of Unilever's attention, Jamie reveals the highs and lows of her journey. Discover the pivotal moments that took her from selling at local farmers' markets to seeing her products on major retail shelves. Jamie opens up about the emotional rollercoaster of selling her company, the strategic decisions behind it, and the invaluable support network that helped her navigate these transformative times.

But Jamie's story doesn't end there. Post-acquisition, she's channeling her entrepreneurial spirit into the world of pickleball—a rapidly growing sport. As a part-owner of a professional pickleball team, Jamie is investing her time and resources into expanding this exciting industry. Learn how she's merging her business savvy with her passion for pickleball to create new opportunities and grow the sport's community. Tune in for an episode brimming with inspiration, strategic insights, and the excitement of new ventures.

Thank you for tuning in to The Female Founder Show with host and entrepreneur Bridget Fitzpatrick. If you like what you heard, please give us a review and let us know what you think?

Want to hear and see more great content to help you run your business more profitably? Go to ASBN.com.

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
This is the Female Founder Show with host and
entrepreneur Bridget Fitzpatrick, exclusively on ASBN.

Speaker 2 (00:18):
Hello and welcome to the Female Founder Show.
Today's guest is Jamie Schmidt,the founder of Schmidt's
Naturals.
Jamie's also the co-founder ofBFF, a brand that provides
access and education in emergingtech and underrepresented
groups.
She's an investor and author ofthe book Supermaker Crafting
Business on your Own Terms.
Jamie is a two-time honoree inGoldman Sachs' 100 Most

(00:42):
Intriguing Entrepreneurs.
She was on the Inc Magazine'sFemale Founders 100 list and she
was Ernst Young's PacificNorthwest Entrepreneur of the
Year.
I'm so excited to talk to Jamietoday about her exciting
journey.
So with that, jamie, welcome tothe Female Founders Show.
I'm excited to be here.
Thanks for having me.
Yes, now I would love to startfrom the beginning.

(01:02):
Talk to us about before youstarted your company and the
inspiration behind startingSchmitz Naturals.

Speaker 3 (01:09):
Yeah, you know, my founding roots probably are very
traditional.
I didn't sit down one day andsay, hey, I'm going to start a
business and here's my wholebusiness plan.
I sort of just fell into it.
I was living in Portland,oregon, at the time.
It's the most creative cityprobably in the country.
Tons of creators, makers,artists and that was my way of

(01:29):
fitting in was just by makingthings, specifically body care
products.
I loved making lotions andsoaps and I just loved playing
with essential oils.
I was also pregnant at the time, so it just sort of made sense
for my lifestyle.
I was on a tight budget, youknow, we didn't have a huge
family household income and somaking things just made sense

(01:50):
and then started taking myproducts to the farmer's markets
and I got a pretty positiveresponse from the community, you
know I started selling.
People really took interest.
We're coming back, you know,week after week, for more
products.
And then I realized there issomething here, there's a
business potential in what I'mdoing, and before I knew it, I
had retailers approaching me inmy booth asking if they could

(02:12):
sell my products in their stores.
And then, once I went in, Iwent all in and never looked
back.

Speaker 2 (02:19):
That's awesome and then fast forward.
I know you got into a ton ofstores and you're working really
hard and you got a call rightand you weren't planning on this
call right.
Can you talk to us about that,yeah?

Speaker 3 (02:33):
I think you're talking about selling the
company.
Yeah, it wasn't something thatwas ever in my thinking.
I just loved what I was doingand for the first time in my
professional life, I felt happyand fulfilled and never really
looked too far ahead.
Honestly, I think that was partof what helped drive the
business was my resistance tolook too far ahead and have an

(02:54):
exit plan.
I just enjoyed it.
I was making customers happy,making myself happy, aside from
all the stress that comes withentrepreneurship.
Yes, one day I was approachedby Goldman Sachs who said that
Unilever, the biggest CPGcompany in the world, was
interested in acquiring thebrand.
And so my feelers perked up, Iguess, and I started thinking a

(03:22):
little differently about thefuture of the business.
Right, and thinking, well, maybethere's something here, maybe
the business would do well inthe hands of a big corporation
like Unilever.
But, of course, lots ofthinking and planning and
questions that went into thoseconversations.
But once that started, we weregetting interest from others
because generally how it happenswith an acquisition if you have

(03:43):
a broker like Goldman.
From others because generallyhow it happens with an
acquisition if you have a brokerlike Goldman, they will sort of
shop the deal around and see ifthere's others who are
interested and so once Unileverwas interested, we were getting
interest from Procter Gamble,l'oreal and some of the bigger
companies that typically acquirebrands early stage companies.
So I entertained thoseconversations and had my know.

(04:04):
I had my non-negotiables andwas really excited about the
potential of Sol.
Unilever is a really strongstrategic partner from that
point of view.

Speaker 2 (04:12):
Yeah, absolutely.
I'm sure it was very exciting,but also a little bit scary or
nerve wracking, Like you said.
You were having fun and youwere really enjoying it.
And then I want to think aboutyou know selling, and did you
have a support system in placethat you could go to for advice
or what was going on in?

Speaker 3 (04:31):
your mind.
Yeah, it was tough.
A lot of emotions attached toit.
The business had become a bigpart of my identity.
I couldn't really imagine afuture without it.
But of course it was the lureof a big compensation.
I would go along with that inthis nice package.
But yeah, it was hard.

(04:51):
I was really concerned about thefuture of the business.
Right, and there were so manythings that made it special.
It was a homegrown brand.
I literally sold it in mykitchen and I had in-house
manufacturing and I was scaredto put it in the hands of
somebody that didn't love it asdeeply as I did.
But I knew it was the rightchoice after a lot of
conversations.

(05:11):
In terms of advisors,definitely our brokers were
helpful.
I didn't have a whole lot ofcolleagues or friends who had
been through a similar process,but there are resources out
there.
There are communities you canconnect to and, um, you know,
I'm pretty tapped into the, thefemale founder world, uh, that
so, just you know, startedreading other people's stories

(05:33):
and feeling really inspired andunderstanding that you know, hey
, this is the right movement.
You know, as scary as it is,it's good for the business, it's
good for me, yeah now.

Speaker 2 (05:42):
if someone is watching right now and planning
on selling one day, what aresome of the steps they should be
taking to be prepared?

Speaker 3 (05:50):
Yeah, yeah, I think, even if you're not thinking
about selling, I think it's agood idea just to sort of
consider it as an option somedayand, with that said, maybe have
an idea for what type ofcompanies you would sell to or
what timing that might look likeand how you could get ready in

(06:11):
the event that that wassomething that my interest is
someday.
I think one thing that I didn'tdo well was keep clean books,
because it started in my kitchen.
It was such a homegrown brandin the beginning.
I was mixing personal andbusiness expenses, so those
first few years were a littlebit messy.
We were able to clean it upwith the right accountants and
things, but it took extra work.

(06:32):
We do get acquired.
There's a whole diligenceprocess that happens, and so
everything should be asorganized as possible.
Another thing that was reallyimportant was making sure that I
didn't have any long-termcontracts that I was tied into.
That was one thing that wasreally important to them was
what kind of supplierrelationships did I have?
Any agreements withmanufacturers, things like that?

(06:54):
That we would be locked intofor too long.
So we are signing agreements.
It's easy just to sign them andnot think twice, but really be
sure you're digging into thoseterms and understanding what
they look like and negotiatingwhere you can.

Speaker 2 (07:07):
Great, great advice, thank you.
And now, since your exit,you've been giving back, which
is great.
Talk to us about your platform,supermaker, and your investment
fund, color, if you would.

Speaker 3 (07:18):
Yeah, I'd love to.
So Color was one of the firstmoves I made after selling
Schmidt's Naturals.
It's an investment fund startedby my husband and I, so it's a
home office.
We don't have other investors,but our goal there was really to
, of course, invest financiallyin businesses, but also to tap
in and provide the expertise andexperience that we've gained

(07:40):
hands-on.
He was alongside me in buildingSchmitz, and so we learned so
much.
We were eager to jump intoother businesses and help where
a lot of investors maybe don'thave the actual experience of
growing their own business.
So we've been investing for thepast five years now.
And then you mentionedSupermaker, and that was a media

(08:00):
company that we had startedprimarily during the pandemic to
support businesses that werestruggling to stay afloat during
the hard times and justproviding resources in the
network and community to helpthem do so.
So just through articles wewere publishing, making
connections, featuring smallbusinesses and creators
sometimes Nice.

Speaker 2 (08:20):
Now, as an investor, is there something specific that
you look for when investing ina company?
There's a lot of things.

Speaker 3 (08:26):
Sometimes it's hard to articulate, other times it's
very obvious.
But we invest primarily inconsumer products companies
because that's where ourexpertise is.
But we've deviated from that alittle bit because we can.
It's just the two of us, um,but I get, you know, really
excited about a founder who'spassionate about their business.
You can hear it in theconversations.
Um, I like the businesses thatcan kind of start small or niche

(08:49):
and then expand, uh, just some,you know, into the mass market,
and you know schmitz is a greatexample of that.
So I had started, you know,catering to the natural consumer
, people with healthy products.
But then as the business grew Irecognized there was an
opportunity to compete in themass market for any dealer and
consumer, and so I like thatidea where you can start small
but have the potential to grow.

Speaker 2 (09:11):
That's great.
Now there are some peoplewatching that may be working or
thinking about working withtheir spouse, like you do and
like I do.
And what do you all do to makethat work?
Because I know the rewards andchallenges that go along with
that.
But what do you guys do to makeit work?

Speaker 3 (09:27):
I think you said it perfectly there are rewards and
there are challenges, you know,and I think that's what makes it
fun.
That's what makes it fun.
I don't think there's a perfectrecipe or formula to do it, but
I think it's all aboutboundaries and listening to
yourself.
You can tell when you'regetting stressed or annoyed.
Take a little break.

(09:47):
But having your own thing Ithink that took me a little time
to understand too.
Our lives are so intertwined inso many ways.
We parent together, we livetogether, we run our businesses
together, so it helps to haveyour own thing.
You know um, but we, you knowwe share a lot of the same
hobbies too, and so it's special.
But you know it's also good to.
You know step away when you can, um.
But I think it's just beinghonest and recognizing your own

(10:08):
weaknesses is huge, because inany relationship, you know
you're dealing with, you knowegos and things, and so just
understanding you know yourstrengths, your weaknesses and
respecting you know dealing withyou know egos and things, and
so just understanding you knowyour strengths, your weaknesses
and respecting you know those ofyour partners For sure,
couldn't agree more.

Speaker 2 (10:21):
Now can you share with us?
You mentioned having things todo on your own.
Can you share with us what youdo for yourself?
You're a busy mom with so muchgoing on in your professional
life.
Talk to us about what you do totake care of you.

Speaker 3 (10:32):
Yeah, I, you know, recent years have really tapped
into fitness.
Um, you know it was.
It's always been important tome, but it's hard as an
entrepreneur to make time for it.
Um, so I have a personaltrainer now and that is really
just a good way for me to focuson me and, of course, you know,
build a healthier body.
Um, because, well, as a hugepart of my life, um's as well.

(10:53):
We started to play together,but we also have our own groups.
That's cool.

Speaker 2 (10:58):
I'm going to be playing pickleball for the first
time on Saturday, so I'mexcited.
I'm a tennis player, so I kindof feel like I'm going to be
okay, but I'm excited just tolearn how to play.

Speaker 3 (11:08):
I mean, you're starting with a good foundation.
Yeah, it's amazing that sporthas truly changed my life in a
lot of ways.
I've met a ton of friends thatway.
I'm out in the sun all day,which is fun, and so that's a
big part of my life too.
And then I like to read.
I'm truly down time to spendjust with a good book, not an

(11:30):
audio book, but an actual paperbook.

Speaker 1 (11:32):
Very nice, you can curl up with a book, not really
a computer right, or I guess youcould with earphones, but it's
not the same.

Speaker 2 (11:37):
It's not the same now for those watching that might
be thinking about starting abusiness.
What advice would you have forthem?
I?

Speaker 3 (11:45):
mean so much.
I think the biggest thing isyou have to, like, truly love
and believe in your idea,because you're going to be
challenged and tested all thetime, you know, by people around
you, by customers, you know,potential investors, by yourself
, um, but if you like, if youreally think what you're
building is is incredible, andthen you support it, you know,

(12:06):
with your whole self, then youcan power through anything.
And so just you know, checkingin, making sure it resonates, um
, and if it doesn't, you knowchanging course is okay, like
allowing yourself to pivot it,and you know, even step back,
take a break, or, you know,start something new.

Speaker 2 (12:20):
Great advice.
That's so important because youreally have to be all in.
You really have to believe init, like you said so much.
Now I would love to talk aboutyour book, supermaker.

Speaker 3 (12:37):
Crafting Business on your Own Term to talk about your
book Supermaker craftingbusiness on your own terms.
What are some of the takeawaysyou'd like for your readers to
take away from the book?
I think my goal in writing thatwas not to tell you how to
build your business, but to sortof equip you with a general
framework for you know when youneed a little bit of guidance.
Right, and just sharing myexperiences and letting people
know that like things are goingto happen, they're going to go
and like here's a general senseof like you know what I learned
through my experience and how itmight apply to you.

(12:57):
Um, I don't think there's aright.
There is a playbook forbuilding a business.
I mean, with many businessbooks that exist, like it's not
relevant to everybody, um, andso I think it's just important
to understand that your journeyis yours alone and that you know
you are on your own timelineand you have to build in a way
that makes sense for you.

Speaker 2 (13:15):
Yeah, that's great.
Now.
Your story is so inspiring andyou've accomplished so much.
What's next for you?
Where do you see yourself inthe next five to 10 years?

Speaker 3 (13:25):
Yeah, it's fun.
I'm in a position now where Ihave a lot of freedom to explore
and take my time, so I'minvesting.
That will continue.
I'm playing a ton of pickleballand I'm now investing in the
pickleball space, so that'sreally fun to bring my hobbies
and my business life together.
I'm part owner of a pickleballteam, a pro team and so more

(13:49):
there in that space.
I think I really like thatintersection of business and
pickleball and it is thefastest-growing sport in America
.
So the more I can do tointroduce more players and to
help brands that might want toexplore opportunities in that
space too, that's exciting to me.

Speaker 2 (14:03):
I love it.
I love it.
Can't wait to play pickleballNow.
Thank you so much, Jamie, foryour time today.
I really appreciate it.
I know your story and advicewill be very, very helpful to
our viewers, so we appreciate it.

Speaker 1 (14:14):
Thank you.
This is the Female Founder Showwith host and entrepreneur
Bridget Fitzpatrick, exclusivelyon ASBN.
If you're a female founder andwould like to help other female
founders with your inspiringstory, we would love to hear
from you.
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