Fast growth isn't always the best growth, Beachmint has figured out--the hard way--over the last few months. The celebrity-driven e-commerce firm, which is based in Los Angeles, hit a rough patch last year with a major layoff, and even as recently as this week has been in the midst of reorganizing and restructuring its operations, streamlining operations, and letting go of people that haven't been a match to the company. But, according to Greg Steiner, the Chief Operating Officer of Beachmint, all that restructuring has paid off as it had a great Q4, and in its first quarter--and he now believes the company is doing all the right things to run a healthy business.
Steiner admits that the firm may have grown a bit too quickly over the last few years, expanding too quickly into too many different verticals--but says the company's new focus on women's fashion has resulted in a stronger business. Steiner says that the company--which runs a number of celebrity, e-commerce and fashion sites--now is "going gangbusters", as it has figured out some of the hiccups in being a startup. Steiner says that--even as the firm has let go of staff--it's also hiring in senior positions, trying to find the right people to help "advance the ball" for the startup. It remains to be seen how those efforts pan out, but Steiner now thinks it has things organized--and the right people in place--to make things happen.