So Simple Modern attacked the e-commerce space and designed products that came in dozens of variations.Ī simple strategy, to be sure. They had high prices, few variations, and no Amazon presence. That meant companies like Hydroflask were built for physical retail, not e-commerce. He realized that their main competitors found success using specialty retail like REI. Here’s how Mike applied that to Simple Modern:
Ask: Where do your skills and abilities line up with white space?.Find “white space,” or the communication and distribution channels they’re not using.Examine the strategies and strengths of existing companies.So, how do you come up with a winning product? Here’s the four-step process that Mike suggests: Instead, their innovative approach was to stream it before other companies did. Netflix, for example, wasn’t doing anything new by selling video content. Mike describes their approach in an excellent Twitter thread.ĭon’t get stuck trying to invent a new product. Most successful businesses sell established products, but in a new way. The answer is… They didn’t really compete. So how did Simple Modern successfully contend with Yeti and Hydroflask? Mike Beckham did it when he co-founded a drinkware company called Simple Modern, and now his company makes $100M annually. How do you compete against brands worth millions of dollars… with just $200,000? MARKETING How a drinkware startup successfully challenged competitors making millions in revenue You’ll get the cash flow necessary to reach new levels. And you’ll get the guidance-and the connections-to make the best decisions. … And marketing advisors like Julian Shapiro, Shaan Puri, Sahil Bloom, Packy McCormick, and Austin Rief. On top of that, they have a world-class team to help you scale: Sequoia’s Alfred Lin, Disney’s Jeffrey Katzenberg, a16z’s Sriram Krishnan, Loom’s co-founder Shahed Khan, Product Hunt CEO Josh Buckley. They’re a sister company of Product Hunt: This means you get unique access to Product Hunt, the Product Hunt team, and launch support.Competitive terms: Hyper offers $300k for 5%-not $125k for 7% like Y Combinator.Sequoia and Andreessen Horowitz (a16z) are two of the biggest names in venture capital.Īnd they’re now backing Hyper, a startup accelerator that gives you access to capital and mentorship from top founders. SPONSORED BY HYPER Get capital and guidance from the top 1% of startup founders Hopefully Google doesn’t pick “unjustified” reviews of your business to display…
This new update shows relevant customer reviews right next to business location icons, which probably means Google will emphasize review content quality and not just ratings. Display and Video 360 API updates: Google added new features to the platform’s programmatic interface that should make things like filtering creative and showing real-time product inventory a little easier.Īnd now, let’s talk about In-map reviews: Google made user justifications, or snippets of top customer reviews, visible on their Maps mobile app.AdWords API is sinking out of sight: If you still haven’t upgraded to Google Ads API, we suggest you do it now to avoid application errors.Let’s get the technical stuff out of the way: GOOGLE AdWords API sunsets, reviews appear on Google Maps, and more
So you should probably start managing expectations and prepare for the worst case scenario. … And some industries could feel the pinch in coming months. But while spending is rising, it’s safe to assume that shoppers won’t dip into savings for non-essential items. Why we care: We all hope the experts are correct. Apparently consumers have over $2.2 trillion in excess savings that can keep the current spending rate going.Įxperts seem confident that incomes will balance out the rising costs by the end of the year.
The trend suggests that many are reaching into savings to ease inflation pains.Įconomic experts aren’t worried… yet. Why buyers are breaking into the piggy bank: As prices increase, consumers are finding it harder to keep up with the spend. While US consumer spending rose by almost 1% last month, the savings rate fell to 4.4%- the lowest since 2008. If you were saving for a rainy day, you might want to get yourself an umbrella. BUSINESS Savings are “saving” the economy… for now