366: Sock It to Me: How the Cofounders of Bombas Became eCommerce Millionaires

You don’t become the richest self-made woman in American real estate by playing it safe. Dottie Herman has proved time and time again that bold moves pay off. In the 1980s, in a maneuver that solidified her path to the top in real estate, Herman flew to California and convinced Merrill Lynch to hire her to help the company expand into the real estate market. In 1990, when Prudential decided to sell its regional holdings, Herman then persuaded the company to lend her $9 million to purchase its own Long Island real estate offices. And in 2003, Herman expanded her empire into New York City with the nearly $72 million purchase of the most prominent Manhattan real estate company, Douglas Elliman (again convincing Prudential to finance the deal). “If you don't ask, you don't know,” Herman says. “And the worst that can ever happen is someone says no.” Key Takeaways How Dottie Herman got into real estate Her bold move that convinced Prudential to lend her money to purchase one of its own companies How she weathered a recession while running her business The story behind acquiring Douglas Elliman, a prestigious real estate company in Manhattan Why she wanted to expand her real estate empire into New York City Her thoughts on branding How she maintains a good working relationship with her employees What she hopes to do next

25 Feb 201943min

Jay Baer was born to be in business. As a seventh-generation entrepreneur, he always knew he’d start his own company one day. Over the years, his ventures have run the gamut—from an early internet company to a design firm to his popular marketing consulting firm, Convince & Convert. His clients have included Hilton, Cisco, Nike, and Oracle, just to name a few. And if that weren’t enough, Baer is a New York Times-bestselling author, with six books under his belt. His latest, Talk Triggers—co-authored by marketing expert Daniel Lemin—dives into the power of word-of-mouth marketing and how to use it in your own business. What is a talk trigger? According to Baer, it’s a “strategic, operational choice that creates conversations.” Take DoubleTree, for example. Their talk trigger is the warm chocolate chip cookie given to every guest who checks in. Baer and Lemin interviewed 1,000 DoubleTree customers for this book, and that’s just for one of the 30+ case studies you’ll find inside. If you want to acquire customers faster and cheaper, listen in as Jay Baer shares his marketing know-how to help you identify your business’s talk trigger. Key Takeaways The origin story of Convince & Convert How he came to work for an internet company before he even knew what the internet was How he sold the Budweiser.com domain name to Anheuser-Busch for 50 cases of beer His latest book, Talk Triggers, and why word-of-mouth marketing is so powerful How to create a word-of-mouth strategy that will win over customers DoubleTree’s genius strategy of giving a warm chocolate chip cookie for free to every guest (their talk trigger) Why small businesses are perfectly primed for a talk trigger UberConference’s on-hold music talk trigger example How to (and how NOT to) find your talk trigger Why Baer invests in several companies How to use content marketing and inbound marketing to grow your business

12 Feb 201954min

“I don’t think CEOs should be able to be CEOs if they can’t code,” says Grant Petty, founder and CEO of Blackmagic Design. That’s a bold statement, but Petty is a bold guy. Working as an engineer in the television industry, he realized the technology was overpriced. So he started a company that cut costs and put power into the hands of creators. “Really what I was doing was a protest against the way the TV industry was,” he says. And soon, Petty began to challenge the status quo of business in general. He runs his company a little differently: There are no spreadsheets, very little planning, and to him, metrics hardly matter. “In the Western world, business culture becomes so rigid and so inflexible,” he says. “If you’re a creative person, you can get destroyed by that because they don’t allow you to exist.” Today, Blackmagic Design boasts nearly $300 million in annual revenue and is still 100% bootstrapped. Its technology is used by 80% of modern day feature films. We sat down with Petty to discuss what he’s learned about how to run a meaningful business in the face of opposition. Key Takeaways How his frustrations with the TV industry inspired him to start Blackmagic The story behind Blackmagic’s first product and how he got it off the ground The challenges with getting funding and the struggles he faced when he decided to self-fund The “wave of hatred” that can come when you try to disrupt an industry How long it took to become an industry leader How to know when it’s the right time to add a new product to your line Balancing his creative side with the operational duties of being CEO One common thing that’s destroying creativity in businesses Blackmagic’s culture and how it fosters creativity What’s next for the company

5 Feb 201958min

These days, Sabri Suby reigns supreme as the founder of King Kong, Australia’s fastest-growing digital marketing agency. But he’s come a long way since his first job, selling ink cartridges over the phone, which he describes as a “cold, hard slap to the face.” “I sucked incredibly badly at doing that in the beginning,” he says. Soon enough, thanks to mastering the art of sales and persuasion, he became the top producer in that role, went on to travel the world, and eventually, forged his path as an entrepreneur. For all of his companies, he realized he was asking the same fundamental question: “How do we get more customers?” His obsession with answering that question has helped him perfect his selling skills and scale King Kong from zero to $10 million in annual revenue in just four years. In his latest book, Sell Like Crazy, Suby reveals the selling system he’s created and honed over the years, including things like the Magic Lantern Technique and the Halo Strategy. He says he’s deployed this system in more than 167 different niches and markets—and it’s worked every time. With Sell Like Crazy, he shares the steps you need to take, regardless of what stage you’re in, to level up your business. Key Takeaways Where to begin if you want to succeed in selling online Psychology vs. technology and why the traffic channel doesn’t matter The biggest mistake online businesses are making regarding sales Why you shouldn’t start a business by looking only at your interests How to identify a gap in the market that you can fill Using automation and a funnel to convert sales Why skepticism online is at an all-time high—and how to overcome it How to know when to ask for the sale How to get over the fear of selling Why you’re doing the world a disservice by not trying to sell Why paid advertising is key to growth

30 Jan 201943min

Eighteen years ago, David Heinemeier Hansson was a college student sitting in his little apartment in Copenhagen when he stumbled across a blog post by 37signals (which would later become Basecamp), a Chicago-based design company he had long admired. In the post, co-founder Jason Fried posted a question on some aspect of programming. Hansson knew the answer, so he contacted Fried. Several emails later, Fried was asking Hansson to work with him. “Jason decided it was easier just to hire me than to learn how to program,” Hansson says, “and that's how we started working together.” That was the beginning of a now-legendary tech startup team, and an illustrious career for Hansson. In Hansson’s early days at Basecamp, he famously created Ruby on Rails, an open-source web development framework once used by Twitter, and still in use by GitHub, Shopify, and many more. We were excited to talk shop with Hansson (often known as DHH) because, in an industry dominated by breakneck Silicon Valley culture, Basecamp stands out in many ways: It’s been profitable every year since its inception in 1999, it doesn’t chase growth, and it doesn’t even set numerical goals. With their latest book, It Doesn’t Have to Be Crazy at Work, Hansson and Fried are hoping to challenge the prevailing narrative about chaotic work culture by sharing the unique way they run their company. This is Part 2 of our Basecamp co-founder interviews. To hear Part 1, check out our podcast interview with Basecamp co-founder Jason Fried. Key Takeaways The blog post 18 years ago that brought Hansson together with co-founder Jason Fried, and what compelled Fried to hire him How Hansson invented revolutionary web development framework Ruby on Rails Why it’s never too late to learn how to program The story behind how Jeff Bezos bought a minority, no-control stake in Basecamp in 2006—and how Hansson feels about it today Basecamp’s philosophy on growth His latest book, It Doesn’t Have to Be Crazy at Work, and why he hopes to challenge the prevailing narrative about entrepreneurship and growth How Basecamp defines success, even though it doesn’t set goals The disadvantages of large companies How to maintain a strong company culture when your team is remote

10 Jan 20191h 2min

Most of Foundr’s podcast episodes are one-on-one chats, usually focusing on a particular foundr or their business. This time around, we were fortunate enough to sit down, in person, with two startup icons, and explore some of the most important facets of running a business. Oli Gardner and Ryan Deiss are both digital marketing pioneers who have grown their online businesses to millions in revenue. Gardner, the instructor of our Landing Page Formula course, co-founded landing page builder Unbounce in 2009. Deiss, a serial entrepreneur, founded DigitalMarketer in 2011. Not surprisingly, this turned out to be a fascinating conversation, in which Gardner and Deiss share both similar and differing opinions on everything from branding to hiring. For example, both founders insist that creating core values is an important business practice that will inform your branding and your decisions. “I have had more businesses come close to failure because of too much opportunity,” says Deiss, who adds that having a mission makes it easier to know when to say no. In addition, as both Unbounce and DigitalMarketer grow, Gardner and Deiss have each honed their strategies for hiring top talent. The details might surprise you, as one of the two companies doesn’t even allow candidates to submit a resume (it’ll get thrown out). Listen in as Gardner and Deiss join Foundr for this lively chat in Barcelona, where they share their hard-learned lessons from growing online businesses and the sacrifices they’ve made along the way. Key Takeaways How to build a great brand The one thing that keeps your customers coming back again and again Why creating core values for your company isn’t just a nice thing to do, but a necessity The latest interaction and design trends—and which ones you should steer clear of Why community is the new brand and how to build a community that boosts your business The biggest opportunity in ecommerce right now How to stay relevant in a changing content marketing landscape Sure-fire tactics for hiring and vetting top talent The big sacrifices they’ve had to make as founders

18 Dec 201852min

NEW COURSE ALERT: Entrepreneur, we wanted you to be the first to know that we’ve collaborated with Arman Assadi to bring you our brand new copywriting course. Learn the copywriting secrets behind 11 seven-figure product launches, taught by Arman himself. Arman’s broken it down into a 10-step framework that he’s proven with his clients time and time again. He’s even going to give you templates, formulas, and how-to guides so you can start converting customers like crazy. If you’re tired of seeing ZERO sales for all the hard work you’ve put into your amazing product—then you NEED to learn the power of copywriting. We’re opening the doors to this course soon for a limited time only, and we want to see you there. Be sure to get on the FREE waitlist so you don’t miss it! Key Takeaways The “crisis of meaning” that drove Assadi to leave his job at Google, book a trip to Cuba, and pursue freedom as a solopreneur How Assadi became a self-taught copywriter and began working with the likes of Neil Patel, Lewis Howes, Jason Silva, and Lori Harder What you should (and shouldn’t) do if you want to find your unique voice as a copywriter The key to writing high-converting copy and why every entrepreneur should learn the basics The story behind Assadi’s latest business and how it created the most-funded planner in crowdfunding history: EVO Planner What’s next for Project EVO and how it’s helping entrepreneurs and creatives find fulfillment in their work

11 Dec 20181h 9min

Serial founder and VOIP pioneer Alex Mashinsky has founded eight companies and raised more than a billion dollars in collective funding since his entrepreneurial start in the 1990s—and he is showing no signs of slowing down. Mashinsky is the founder of Celsius, which allows users to earn interest on and borrow dollars against cryptocurrencies. While Mashinsky wants his company to succeed, he sees much more at stake here than just his entrepreneurial resume. Mashinsky is devoting his latest startup to taking on the world’s financial systems and driving the mass adoption of cryptocurrencies. Subverting the “big guys” has been a common theme throughout Mashinsky’s career, starting with helping AT&T develop some of the first international VOIP systems, and now fighting to decentralize the world’s banking systems. According to Mashinsky, “This is the biggest battle that I’ve fought in my life. I fought with the phone companies…in the 90s. This is 10 times worse.” Listen in as Mashinsky reveals the details of his entrepreneurial journey's highs and lows, his dedication to educate the world about cryptocurrencies, and entrepreneurial lessons only an eight-time founder can teach. Key Takeaways How the 2008 recession took down his ride-share company (that was more popular than Uber at the time) Why Mashinsky is so passionate about educating the world on cryptocurrencies 4 entrepreneurial lessons to guide your business journey The mindset shift that led Mashinsky to focus on mass adoption of cryptocurrencies

4 Dec 201858min