Steve Berg is a partner at Stride Consumer, investing alongside dynamic founders of passion brands like Jeni’s Ice Cream, Urban Decay, Skinfix and Patrick Ta Beauty over his 20-year career.
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Guest Resource
Stride Consumer – We help passion brands hit their stride.
3 Value Bombs
1) The world is absolutely awash in different products. Consumers have nearly infinite choices, and the key to lasting success for any company is loyalty.
2) The whole strategy at Stride is to be a partner that helps with that next stage of growth.
3) Look for a founder who really has a compelling story as to why they are trying to change the world and why it’s personal to them.
Sponsors
HubSpot: There’s a better way to win, and it all starts with the new HubSpot Sales Hub. It’s smart software for smart sales teams that feels good to use! Try it for yourself at HubSpot.com/sales!
Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Policygenius: Your loved ones deserve a financial safety net. You deserve a smarter way to find and buy it. Visit Policygenius.com to get your free life insurance quotes and see how much you could save!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How Entrepreneurs are Scaling Disruptive Consumer Businesses
[1:15] – Steve shares something that he believes about becoming successful that most people disagree with.
- Relax. There are times that you’ll do best when you take a step back. Take a breath, and go faster at lower RPMs.
[2:49] – The origin story of Stride Consumer.
- They started out raising money just as the world shut down and absolutely no one wanted to meet with them face to face.
- They rented a huge sprinter van and drove around the midwest, then down the East Coast and met investors in public parks, lifestyle centers, peoples’ backyards, and really kicked off the whole entrepreneurial journey of Stride.
[4:37] – What does it mean to follow your passion?
- It’s a brand and a product that does more than just meet a need. It stirs very strong emotions.
- The world is absolutely awash in different products. Consumers have nearly infinite choices, and the key to lasting success for any company is loyalty.
- You need consumers who keep coming back despite all the other choices, despite all the noise.
[9:47] – A timeout to thank our sponsors!
- HubSpot: There’s a better way to win, and it all starts with the new HubSpot Sales Hub. It’s smart software for smart sales teams that feels good to use! Try it for yourself at HubSpot.com/sales!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
- Policygenius: Your loved ones deserve a financial safety net. You deserve a smarter way to find and buy it. Visit Policygenius.com to get your free life insurance quotes and see how much you could save!
[12:40] – How do insurgent brands grow their market share faster?
- Insurgent brands are those that have a different point of view and are taking on the old brands that have been around forever.
- It’s easier for that entrepreneur with a brilliant idea who’s on a mission to be able to get off the ground and get attention. A lot of those barriers have come down.
- The whole strategy at Stride is to be a partner that helps with that next stage of growth.
[16:04] – What to look for when investing with a company.
- Look for a a founder who really has a compelling story as to why they are trying to change the world and why it’s personal to them.
- Look for a focus on the consumer and in product quality.
- Try to figure out if you have proven consumer loyalty, because revenue alone is a really bad indicator. You can go from zero to 40 million in revenue without ever having a single repeat customer.
[21:02] – Looking for an investment partner when you have an emerging dynamic brand.
- The first one starts with alignment. Their objectives should be the same as yours. Are you comfortable with the same pace of growth and the execution risk?
- How helpful can they be?
- Culture-fit is important. If their culture doesn’t match yours, or if you don’t enjoy their company, it’s going to be painful.
[25:33] – Steve’s key takeaway and call to action.
- Be yourself. Run your race. Stay true to what you’re trying to accomplish, why you’re doing it. Look outside a little bit for things you can emulate or good ideas you can borrow and adopt. Otherwise, don’t get distracted by the noise around you.
- Stride Consumer – We help passion brands hit their stride.
[27:33] – Thank you to our Sponsors!
- HubSpot: There’s a better way to win, and it all starts with the new HubSpot Sales Hub. It’s smart software for smart sales teams that feels good to use! Try it for yourself at HubSpot.com/sales!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[23:20] – Thank you to our Sponsors!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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