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Season 0, Episode 1: Let’s MAKE IT
- 2023/08/21
- 再生時間： 14 分
- ポッドキャスト
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サマリー
あらすじ・解説
Transcript: Making It: Episode 0 === Welcome to making it the business of making and selling products where passion meets profit and each episode explores what it takes to make it with experts sharing their insights on building a business from ideation to manufacturing to marketing to scaling and beyond. I'm your host Danielle. My husband and I started a soap and cologne business in 2013 and grew it to nearly 4 million in revenue in 2022. We bled, sweat, and ugly cried over every aspect of this industry. It was a lonely road, but it doesn't have to be. I am on a quest to end entrepreneurial loneliness and enjoy the wild ride with you. So let's get to making it. Hello. I'm so glad to finally be doing this podcast. This is just awesome. And why? I want to start with why. Simon Sinek. I hear you loud and clear. Well, I want to end entrepreneurial loneliness. Let me tell you, when we started Outlaw back in 2013, we had like 17. 40 in startup costs and we bootstrapped it until 2020. and then we raised money. We had a lot of people telling us what to do, telling us what we should think about, telling us what we should not think about. We didn't even know what we didn't know. And one of the things that is really, really important to me is that you That you don't feel so alone, that you at least know what you don't know so that you can move forward with the confidence of knowing that your gut isn't missing something just because you don't know it. Ending entrepreneurial loneliness. It's something. It's really something. And. One of the things that I think people underestimate is background. A lot of people are raised in backgrounds that are entrepreneurial. They get MBAs, they go to, you know, higher levels of education. They're surrounded by entrepreneurs. Well, this wasn't me. This was not me. This was not anybody I knew. We all came up from. Basically, either having a bachelor's or not a college degree at all. And when you're doing that, you don't know what you don't know. So one of the things that is so isolating is when you don't know what you don't know. And so you're ashamed to ask. I cannot tell you when I went to. I used to go to these really expensive conferences, like Cosmoprof in Las Vegas, which is a great conference. But I went there because I had no effing idea what I was doing. And one day I went to a seminar and it was about private label manufacturing. I had never heard of the thing. I had never heard of the thing, and I had been in business for years. If we had known about private label manufacturing, for example, when we started Outlaw, we probably would not have made stuff in house. It would have dramatically changed our business and our ability to scale. It would have also meant that we had to raise money up front so that we could afford the minimum order quantities. What would that have made our business look like? That's what I want to talk to you about over the course of this podcast. So when you don't have an MBA, I mean, a lot of people say that an MBA is. Expensive and it costs a lot of money and it doesn't pay off well if you're starting a business. Mistakes are also expensive, and I honestly don't know what's more expensive. If I had just gone and gotten an M B A, if I had learned about the resources or, you know, if I was able to just learn on the job like I did, I don't know. I feel like. It might have been less expensive to get 120, 000 MBA because we made a lot of really expensive mistakes. And that's another thing I want to talk to you about is like, When you are small, you make small mistakes. If you have 1, 000 in your bank account, you can only make a 1, 000 mistake. But if you have 1, 000, 000 in your bank account, you can make a lot bigger mistakes. And that 1, 000, 000 goes away and is a lot harder to recover than 1, 000. If you've raised money, you cannot F around. You're using other people's money. OPM! And I want to talk about that too. How do you raise money? How do you decide when you should raise money? Bootstrapping is great because it's not about control, man. Like a lot of people are freaking out about control about, oh, I don't want any shareholders to have more controlling interests. You watch the profit, you watch Shark Tank, all these people come in, they're raiders. Right? And they take over the business. They tell you what to do. They tell you how to run the business. They tell you what channels to sell through. A lot of times they come with the authority of having a lot of money. How do you decide who to listen to? Whether you follow your gut, whether you take the advice of your investors, whether you take the advice of your friends. When do you set up a board of directors and how much control do you give to them? That is what I want to talk about here in this podcast. Every episode, we're going to have a different topic. Today's is, of course, the introduction to the podcast. So don't get too discouraged that we're not digging into it today, but the ...