the internet is a gift.

a thread of wisdom I captured during a 1.5 hour discussion about DTC Growth on @chalk_app

s/o to these 5 for making this thread possible
@phil_jacobson
@briannekimmel
@briansugar
@damirbecirovic
@domm

1 // Investment Evaluation Framework:

Evaluate the founder

Do they have potential to be iconic?

Passion + deep experience and/or knowledge of the market space

If the founder’s personality is bigger than the brand it can be hard to separate the two down the road

2 // Investment Evaluation Framework:

A few iconic founders who got some love from the panel & who you should follow!

@lindsaymc of @bitetoothpaste

@domm of @fast

@helena + William of @drinkhaus

@EmilyWWeiss of @glossier

@michaelpreysman of @Everlane

3 // Investment Evaluation Framework:

‘Want-reprenuer vs. Entrepreneur’

Want-reprenuer sees white space in the market and builds a brand to capitalize on it

Entrepreneur: Deeply understands their market space and builds a brand from that intel. *10,000 hour rule*

4 // Investment Evaluation Framework:

Thoughts on celebrities who are a part of a brand

Always ask the celebrity what % of their week is spent on building the brand

...if they’re too busy, accessing their time will be difficult and can slow momentum of growth

5 // Investment Evaluation Framework:

Understand celebrity’s level of dedication to building the brand

What is their actual CORE product? (musicians = their music)
That’s where their priority will go

Album Release Party > Brand Launch Event

Not a deal breaker - use

6 // Investment Evaluation Framework:

Look for a brand that’s NOT built around just ONE hero sku

@glossier is a great example of doing this well

7 // Investment Evaluation Framework:

Funding highs + lows

Turned off by founders who view funding as an “accomplishment”

A pitch for funding to establish a moat around their product

A pitch for funding for marketing spend

8 // Investment Evaluation Framework:

Like to see potential for a moat

Solid example: a point of difference in their distribution model

@drinkhaus
+ if you like to know all the deets
https://www.modernretail.co/startups/how-haus-is-building-a-booze-brand-for-the-dtc-era/

9 // How to Build a Moat:

Direct access to your customer base

@glossier started with the blog http://IntoTheGloss.com  which was leveraged as essentially a focus group for their loyal fans. Helped them build products they knew their customers would want. Knowledge + Access

10 // How to Build a Moat:

a share from @JasonCho17
on moats and tying it back w/ celebrities

Is public perception a moat?
i.e. when kanye dives into new “industries”, the public perception of him as a “creative” makes fans also follow - we saw this early w/ yeezy brand

11 // Future of Connected Fitness:

Peloton

Early movers advantage

The life cycle you want to see:
Loyal followers wearing your merch + changing their social bio to s/o their favorite instructor

12 // Future of Connected Fitness:

How can talent be your competitive advantage?

Leveraging top instructors and rising star instructors at a local level. Talent is a valuable asset.

13 // Future of Connected Fitness:

Brands brought up in discussion
- @onepeloton
- @tonal
- @getthemirror
- The Assembly

14 // E-commerce Infrastructure:

Opportunity areas:

Subscription model for product purchase. Check out @recharge

Leverage SMS to enable customers. Check out @attentivemobile

15 // E-commerce Infrastructure:

Opportunity :

Can you disrupt a supply chain? Could you sell a premium product from your home?

Could a startup partner w/ an individual creator who already has their own distribution channel?

16 // E-commerce Infrastructure:

Topics discussed

Headless CMS

Lots of love for low-code
and no-code

17 // ....and that’s all i got! if i missed other valuable nuggets feel free to add to the thread’

takeaway...our access to people and knowledge is out there if you just do a little digging!

thanks @chalk_app for hosting!