Lisa Batra holds an MBA and has expertise running large-scale eCommerce businesses for Fortune 500 companies, including QVC, Bath & Body Works, Lowe’s and, most recently, running the $40 million online Charming Shoppes brand, Fashion Bug. But, when it came to managing all aspects of her own ecommerce Website, My Kid’s Threads, Lisa needed guidance in the various business planning aspects of her nearly three-year-old business.
She began working with SCORE Bucks County mentors Joe Lutes and Walt Reller in early 2016. Together, they have reviewed her company’s financials, outlined a three-year plan and discussed her business model and how things are working out so far. Her mentors’ strong accounting and financial backgrounds have helped her to solidify the numbers, determine the greatest costs and devise a strategic vision for her business. “I understood how to run the ins and outs of a multi-channel online business,” Lisa said. “As an entrepreneur launching an online-only business, I was consumed with the day-to-day in the beginning and was working 80-hour weeks for the first two years. I added team members in key areas. During this period, it became crucial to keep sight on the finances and the plan." Thanks to her hard work and helpful insight from SCORE Bucks County, My Kid’s Threads continues to grow. The site boasts close to 10,000 designer brand kid’s clothing items, with new consigners from all over the country shipping clothes to sell online constantly. The site’s customer base continues to grow as well. As the business continues to expand, Lisa said she will look to SCORE for guidance on real estate and insight on office space.