111: World-Class Boxer turned CBD Entrepreneur Mike Lee

February 25, 2023

In this episode, we interview Mike Lee, the world-class boxer with a professional fighting record of 21-1 who now runs a very successful CBD business SoulCBD. Mike shares his journey of founding Soul CBD and his mission to help people heal their pain through natural remedies. He talks about the importance of having a business plan, making data-driven decisions, and building customer relationships that drive growth on the path to a 7-figure business.

Episode Highlights:

  • Mike Lee's personal story of dealing with pain and autoimmune issues as a professional fighter

  • The rise of toxins in food and supplements, and why so many people are sick today

  • The importance of COA (Certificate of Analysis) and how to ensure the products you consume have it

  • Mike's journey of starting Soul CBD from scratch, building a website, finding manufacturing partners, and scaling the business

  • Top lessons learned from a failed food delivery business

  • The benefits of Consumer Packaged Goods (CPG) over labor-intensive business models

  • The importance of owning the end-to-end customer journey and customer data

  • Strategies for niching down and expanding to new segments for growth channels

  • The secrets to a high lifetime customer value and subscription model

  • Mike's strategy for building a strong community and brand

  • The role of customer service as a marketing vertical

  • Strategies for influencer relationships that drive massive profits

  • How Soul CBD rapidly validates and tests new products

  • The importance of finding the right manufacturing partner early and investing in people for maximum growth.

SoulCBD Website: https://www.getsoul.com/