Episode 63: How to Grow a Brand Profitably with Brandon Park of 100 Thieves

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Transcript

Announcer:

Welcome to Nerd Marketing, an original podcast for e-commerce operators and marketers. Looking to level up? Drew Sanocki and Michael Epstein will bring you actionable strategies from their decades of running eight- and nine-figure brands along with interviews and insights from the leaders of some of the most successful brands in the world.

Drew Sanocki:

Hey everybody. Drew Sanocki here at the Nerd Marketing Podcast. Today's guest is none other than big Garrett Akerson, a friend here in Southern California. He is the CEO and founder of Kindred Bravely. It's a line of maternity clothing that he sold to private equity a couple of years back and he is now growing it now backed by a private equity partner, so that's really interesting to get into my co-host today is Mike Maher from Taylor Stitch. Hope you enjoy it. Thanks.

You started this maternity clothing and gear company how many years ago?

Garret Akerson:

We started in 2015. February of 2015. 

Drew Sanocki:

How big was it when you decided to sell or did you decide to sell or was it just these people approached

Garret Akerson:

You? I had gotten mentorship early on that was like, don't start a company unless you plan on exiting. You got to have an exit strategy or plan in place, so it wasn't that we were just build it and hold it forever type of plan. We did want to exit. I thought it would probably be another two years. I was kind of hoping for a five-year run, five or six. It ended up working out a little earlier than I thought, mainly because of this crazy environment. Right. We're talking mid 2021 and it's still on fire as far as the acquisition market, so when we look at going to market, we were at like $20 million top line kind of in there thinking we would be. We ended up a fair bit higher than that for 2020. Top line came in at like 32. 

Drew Sanocki:

You attribute the boost to Covid? 

Garret Akerson:

Covid. A consumer brand that could manage to navigate supply chain issues and crunch. We did really well there. I think supply chain managers and our ops team, that's like the unsung heroes of the last year. Marketing teams didn't have to do much operations teams. If you had a good one, man, they were worth their weight in gold. We have a phenomenal team and I think everybody in operations and logistics on our team did really well. We had very few stockouts.

Mike Maher:

Any hiccups with just the actual supply chain itself from producing clothes and getting things made? I mean I kind of felt the same thing. It was like everybody thought that China was going to shut down and China actually figured out how to work through the pandemic better than maybe anybody else in my opinion, but would love your opinion coming from another manufacturer.

Garret Akerson:

We didn't have any factory shutdowns. I guess we were fortunate other than that initial shutdown, we were worried, but then no, I totally agree, Mike. It was weird. A few delays mainly on the shipping side though

Mike Maher:

Shipping just got squeezed and bottlenecked and you had to push through it.

Garret Akerson:

Yeah, so it was early, Drew earlier than I anticipated, but I think the timing was right. We were the ones that initiated it. We were talking to a couple different investment banks. I had a friend that runs an investment bank here in San Diego and it's actually who ended up helping us out, so we used objective capital partners

Drew Sanocki:

To back up a step. This company is a hundred percent bootstrapped right by you and your wife? 

Garret Akerson:

A hundred percent bootstrapped wholly owned by Deeanne and I. Yeah, put our own capital in the beginning and managed all the way.

Drew Sanocki:

No other investors. When you put your own capital in, is it for initial inventory website? That's about it.

Mike Maher:

Yep. This is such an interesting thing having people don't realize how much of a feat this is to do when you have such an inventory heavy business. How are you guys able to finance inventory and growth? I mean you scaled to 30 plus million dollars in revenue in a five ish year timeframe. There's a lot of inventory and future inventory buys that generally need to do that, so how did you guys kind of solve for that problem?

Garret Akerson:

That's the stressful part. I think Mike, one of the stressful parts,

Mike Maher:

Clothing retailers have a lot of stressful parts. We can talk all day about stressful parts,

Garret Akerson:

But so many skews and so much inventory. For us, it was just a lot of lenders that came through. Even I think we got our first SBA loan in 2015 the year we started right out of the gate. Then we got another SBA loan. Then we found a local bank that would work with us that did a larger SBA backed loan and line of credit, but then interlaced with all of that or Amazon, Amazon lending. This was in 2018. I think we had 800,000 out with them alone.

Mike Maher:

Amazing that you guys were able to get the SBA loan so early I would call the SBA relatively conservative. Was it just you ramped so fast or was the magic touch

Garret Akerson:

Man, I wish I knew. I wrote a good business plan. I mean I was familiar with doing that. I had a good business case. We had some sales, but it wasn't much more than okay, yeah, we're getting some sales. You personally guarantee all that, so that probably helps

Mike Maher:

Takes some family risk.

Garret Akerson:

We had some real estate, so I mean that was always collateral. That was probably the real right there, Mike. The real truth is if you have some other asset and they know they can get their money back because they could get access to that asset,

Mike Maher:

That's a ballsy maneuver. I appreciate that.

Drew Sanocki:

In the early days you guys were on Amazon from the get-go, right?

Garret Akerson:

Yeah, that was our initial play.

Drew Sanocki:

Amazon only.

Garret Akerson:

Amazon only. Well, so we launched on Shopify and Amazon in 2015, but we did not focus on Shopify at all. We focused entirely on Amazon sales. 2015 was like Amazon wild, wild West, I mean latter end of it, right tail end I would say like 2013 to 15, as long as you understood a nine and how to rank on the algorithm organically it was printing money. So I had actually, that's my background. I grew up doing SEO in 2005, 2006, starting in digital marketing then and in prior startups all my experience was paid and organic marketing. If you do the SEO part, it was so easy to rank. That's

Drew Sanocki:

Really interesting. Mike's got a brand who, you guys aren't on Amazon at all, right? 

Mike Maher:

No. We went the complete opposite. 

Drew Sanocki:

It is just because of the timing of both companies that you could get traction on Amazon earlier.

Mike Maher:

Our customer wasn't really shopping for Taylor Stitch on Amazon. We're not going to differentiate on price or anything of that nature. 

Garret Akerson:

The key piece there Drew is Amazon is search-driven and so maternity and breastfeeding is really search-driven like breastfeeding or nursing bra. That's a need and if you rank for that search term, you're going to get sales. Whereas another brand like Taylor Stitch, Mike's company for example, there's not a ton of search intent behind it. It's so much more brand.

Mike Maher:

Correct. Yeah. I mean like for me it was, hindsight's 2020. I built a great brand, but it was much slower going and continues to be very steady. We focus on cohort stacking versus a niche thing that we can lean into. We talked about rifle shots versus buckshot we're much more of a buckshot brand than a rifle shot brand.

Garret Akerson:

For us it was so need-based, entirely rifle. 

Drew Sanocki:

Is that where you ended up? I think of Kindred bravely now as a brand.

Garret Akerson:

That's not where we ended up. No, I agree. Getting that flywheel going on, Amazon threw off a lot of cash, so then it allowed us to grow the brand. We started paid in 2017 paid social, so we weren't doing any brand related building for a good solid 18 months and then we had Amazon was producing enough cash and free cash to then plow a bunch of money into brand and advertising paid social and point all of that at Shopify.

Mike Maher:

That's a really interesting strategy. So I mean correct me if I'm hearing this wrong, but you guys really identified a few products and whitespace on Amazon that you knew could work from a kind of Amazon search perspective and really kind of built the business there and then strategically moved over to Shopify to build a brand and it's a really interesting way to do it and I'm sure it gave you a lot more brand recognition and probably customer repeat by doing that, moving those customers over to Shopify, which is, I mean Kuda has a super very tactical, smart way of doing things via e-comm.

Garret Akerson:

I don't think it would work for every brand and even now I'm not sure it would even work now, but at the time the timing was right. That strategy worked perfectly. I mean to give you an example, so we launched in 2015. The first product was in June. Then product two and three were in October of 2015. By January of 2016 I left the other company I was running and so that was about a year in and by then it was already on Amazon alone making about 200,000 a month a year in and it only had Mike to your point that there was only four products. They were super high-demand—search demand for those products was enough to build a company on.

Drew Sanocki:

You looked at Amazon, what could rank well, what categories you could own, and then did you go out and find a product designer to rethink those products at all or were you just sort of matching supply to demand of something that's already out there?

Garret Akerson:

Yeah, so backing up a little bit, I knew I wanted to start something in direct to consumer and I wasn't sure what. Deeanne, my wife, was breastfeeding. Our youngest was in this office and it was like, Hey, have you thought about breastfeeding and maternity apparel? I was like, no, I haven't thought about that.

Mike Maher:

The last thing that I thought about for,

Garret Akerson:

But then to your point Drew, I went and ran a bunch of data like search data, like old SEO keyword searches, but on Amazon to see what was where the demand was and then we just created product to fill that white space on Amazon and I just realized really quickly, oh there was no big brands on Amazon that were dominating in the space and there actually weren't very many Chinese brands either. There just wasn't a lot there and then we're close enough to LA that we could work with product designers and Deeanne was the one that took care of all of product development design and customer care still does run product development and that's what she loves and is good at. I mean she knew what she wanted as a nursing mom. 

Mike Maher:

Great partnership there. 

Garret Akerson:

It was a perfect partnership,

Mike Maher:

Natural born product tester and a natural born digital marketer.

Drew Sanocki:

And then you fast forward five years and when the private equity funds started showing interest, were they more interested in the brand or were they more interested in an Amazon operation? How did they think about your business? How do they value it? 

Garret Akerson:

Not Amazon, I think of anything Amazon. I mean it didn't discount our brand, but it wasn't a value add by that point. In our business, fast forward to 2020, Amazon's 30% of our business maybe, and so yeah, it's a chunk, but it's no longer the majority and now we actually have a well-recognized brand right now Kindred Bravely is the most awarded maternity and breastfeeding brand out there as far as awards and gets a lot of brand recognition and press. It's fun to see. It's very different than where we started.

Drew Sanocki:

TZP was the fund that acquired you.

Garret Akerson:

Yeah, TZP, a private equity group out of New York, they have three funds. This is their growth fund and I think they have $2 billion under management. They're kind of agnostic so it's not like they're all DTC, but they have other D two C portfolio companies as well. SA company is one of them. There's a number of other ones. Itsy Ritzy was another one that they just closed that's actually in the baby space, but they don't focus on baby either or baby and mother.

Drew Sanocki:

What do they aspire to do with your company?

Garret Akerson:

No rollup plans. No, let's combine you with anyone else. I think we got about 15 LOIs, narrowed that down to six LOIs and we just really liked them. I mean there was one other private equity group that we really liked that the actual team, their take was like, Hey, we just want to partner with great brands and great founders and we're here to support you in any way you can and help you grow and get to that next stage of growth. And that was kind of the pitch

Drew Sanocki:

As far as process. Your friend, the investment bank goes out to natural acquirers that he knows and that you probably helped him develop that list.

Garret Akerson:

Yeah, the team at Objective Capital Partners, they went out to 150 I think different. So it was a broad process and then of those I think there were 30 that had interest that got the deck and then that went down to 17 or 16, that submitted LOIs might've been a little less. And then out of that you get six LOIs that are serious offers

Drew Sanocki:

The fund typically gives you a multiple range, a valuation range or they say we're going to value it eight times EBITDA or something like that.

Drew Sanocki:

Would you say you vetted those private equity funds based off of that or based off of fit?

Garret Akerson:

No, certainly initially it was off that it was a pretty wide range, so I think the low end was like 7.7 times EBITDA multiple and the top end was 17.6, so that's like a huge spread. The 17.6,

Drew Sanocki:

Those guys make it to the next round, right? 

Garret Akerson:

Yeah. So you're like you're going to make it. 

The big multiple was the strategic. It didn't end up panning out, so it ended up in between there. We ended up with a multiple that was right around nine, it's like 11 something all in full consideration, but they mainly then came down to we did management presentations and it came down to do we like these individuals? Do we want to continue to work with them and their vision for the brand and the company and then the deal structure, how much they wanted us to roll over into the new company, the other working pieces of it if they wanted us to carry a seller's note. And I think those were kind of the other big considerations for us. 

Drew Sanocki:

Did you find that there was a lot of variation in those aspects of the deal?

Garret Akerson:

Yeah, there was one that was a revenue share deal where they wanted to just invest on a rev share and then there's a number of companies that won't go over. They wanted us to retain 40% or they wouldn't go over 35 max or 30 and we were pretty upfront. I called it the squishy middle. I did not want the squishy middle. So our directive to the investment bank was I don't want any deals that are 25 to 70. I don't want anywhere in that middle. I either want a minority deal or I want a majority deal.

Mike Maher:

You kind of determine for yourself that over 70 was the magic number for you. 

Garret Akerson:

I wanted to make sure that we could take enough chips off the table to make it where if things went sideways or we never collected another dime that it was not an issue at all. It literally didn't matter.

Mike Maher:

Did you do that based on a top line dollar amount that you guys were going to get and you're like based on a rough multiple of EBITDA or something like that?

Garret Akerson:

Right. Yeah. It was just a number that Deeanne and I had that said, Hey, we don't want to do a deal unless we walk away after tax with this much. I think the other thing is a couple of business mentors that I had talked with, one was like, I wouldn't do any deal that was greater than 20% rollover. He was very adamant like don't roll over more than 20% because you're not going to have any control. So who knows what the future holds. You might as well say goodbye to that money if anything happens.

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Mike Maher:

Yeah, it is such an interesting balance because you can say from both sides where none of the groups that I've seen ever really want to get that involved in your business. The ideal thing is they give you money, you take that and then you go grow the business 10 x and then sell it again and they still in the majority and they didn't actually do anything. They just gave you that initial, those initial dollars. So it's always like it is this really fine balance where keeping you as the founder and currently co CEO still excited about doing so what motivates you day to day about continuing to do that? So after you just had a life-changing payday and could be anywhere in the world right now,

Garret Akerson:

And I think that was certainly a concern and certainly a concern with PE groups that didn't want to go over like 35 is they want to keep you engaged. I think from a personal standpoint, I also knew I didn't want to be in the frying pan, right? I didn't want to be a retaining 40% and feel like, okay, a lot's riding on this, I have to make it work. That wasn't the purpose of this, otherwise I would've just kept all the risk and all the reward. So for me talking to anyone thinking about exit, I'm like, man, do a minority. If you want just a little bit money off the table or some money into the business or be really honest with yourself, if you still retain 40% of a company, you are going to be quite motivated to make sure it works and you're not going to be in control, so you better hope you have a really good partner.

So I think one, they were an amazing partner, still have proven to be an amazing partner and we really vetted their portfolio companies, like other companies that had worked with them for years and had nothing but glowing things to say. Other founder, it was five years in and he is like literally nothing's changed on my day-to-Day and our business went sideways. They've just been there to offer advice and help. So we really liked the team at TZP I think on the motivation side, I was already doing what I enjoyed for the most part, we hired a president in 2020, beginning of 2020 for day-to-day management. And so I was already trying to just focus on, hey, where can I add value? What do I enjoy working on? So I'm still working on those things. 

Drew Sanocki:

What are those things?

Garret Akerson:

We launched two other brands, so that did throw kind of a little bit of a wrench into things because acquisition wise we weren't sure we wanted to part with those two brands, but the private equity group was like, Hey, we definitely don't want you not motivated or motivated on another company, so we'd like you to wrap all three brands into the transaction, but then trying to value those when they're brand new startups, peas don't invest in startups. So that was kind of awkward. So I had already started investing more time in a new brand we launched that was in the health and wellness space called Sensible.

Drew Sanocki:

Sensible is now owned by TZP?

Garret Akerson:

Yeah, it's part of the portfolio. So we had already launched another brand called Davy Piper in 2020, which was just a general bra brand, not maternity specific, and then we launched Sensible, the latter end right before the transaction was happening.

Drew Sanocki:

Is that related to maternity at all?

Garret Akerson:

Yeah, it's also supplements, prenatals, belly balms, stuff like that.

Drew Sanocki:

What kind of credit or valuation do they give you on a startup?

Garret Akerson:

They gave us zero valuation, but they gave us a credit saying like, Hey, it can lose X dollars and we won't count it against you. So it's not counting against ebitda, but in the end I had to be okay with that. I was like, okay,

Mike Maher:

Then if you have zero value in it, I mean I guess you still own 20% of the total ops, but it seems like it would just make more sense to refocus all the energy on Kindred Bravely.

Garret Akerson:

It's a good point, Mike. A good question. I think they kind of argue that as well, or at least we still haven't fully settled on how much value or how much time to put on the other two brands. I do think being small brands are still a lot of upside in those. We could grow 'em quite rapidly, but I don't know. It's a good question From

Mike Maher:

The last 30 minutes that I've known, you are the quintessential serial entrepreneur starting DTC business after DTC business. You sitting as co CEO for the foreseeable future of this. I feel like you're one of those people that can't not be itchy about starting something new and figuring out how to market it online.

Garret Akerson:

I have that feeling too, but I don't know what'll be next in the next chapter. 

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Drew Sanocki:

How many of the potential suitors were insistent that you stay involved?

Garret Akerson:

Everyone? There wasn't anybody that wasn't.

Drew Sanocki:

Got it.

Garret Akerson:

I think I was a little naive about that as well. That's one reason we brought in and started building out the executive team in 2020 was we wanted to say, Hey, we're owners, not operators, but nobody really bought that.

Mike Maher:

I was going to lean into that a little bit. As for hiring the president, we did the same thing. We hired a general manager at Taylor Stitch that just dealt with all the day-to-day stuff that I was honestly horrible at. It makes a difference, but it's still hard to prove that you are completely obsolete.

Drew Sanocki:

I like the idea, the strategy of creating a fall guy to sell off. You prop this person up as the leader of the team in the hopes that the private equity guys just bite on it and they're like, oh, this is the new CEO. We'll just take this guy. We'll lock him up for three years. I don't think it works. I'm trying to do it right now. It's not really working. 

Mike Maher:

If it's set up, you should be in a position where it sounds like you're still having fun. It sounds like you're getting to focus on the stuff. I mean obviously it's still very fresh, but we're in about the same timeline and I actually feel own a little bit less of the company going forward than you do, but feel incredibly energized about the next stage of things and the partnership as opposed to where if you'd asked me a year and a half ago, I was kind of tired and worn down, which is a conversation that I had with the group that we're working with as well, which would love your kind of perspective on, it sounds like you've kind of given it to a certain extent.

Garret Akerson:

I think for me, I felt the most worn down in 2018. We had five negative months. That was a super stressful year and we were very much in the operating mode. I think once we hit 2019, everything was already stable and on the up and up and then 2020, once we were able to build out the executive team more, it gets much more enjoyable the less stress you have about going out of business or managing financing or inventory. And I think it does make it more enjoyable, certainly less stressful, Mike. You can just enjoy it and I think even be more objective like, oh, okay, well what is the best business decision without worrying about your personal pocket?

Mike Maher:

Couldn't agree more. Yeah, I think there was that to your point, that first tilt of like, oh, we're profitable now and the business isn't going to go away. That took a massive level of stress off for me and then hiring the GM to deal with all stuff that he was really good at that I just clearly wasn't good at, was another stress reliever at that point. It was kind of pretty smooth sailing, at least for me. That's when I was really able to focus on this bigger rollup strategy that we're working on and the sale of the business and that partnership itself and giving yourself that mind space. I think it's a really important thing, at least from my perspective, that I think a lot of founders don't realize.

Garret Akerson:

I cannot imagine to deal with due diligence and running a company. It was so nice to have somebody running the day-to-day operations so that I could focus on all the private equity due diligence requests coming in from all those parties. 

Drew Sanocki:

Are you the CFO too? I mean you're sort of like the head finance person.

Garret Akerson:

So as part of the transaction, they wanted us to have a full-time CFO,

Drew Sanocki:

Right, but getting through diligence, that was you.

Garret Akerson:

So we had a fractional one that we already had been working with and have for years, had a fractional CFO, and he actually came on full-time part of during due diligence. They liked him so much that they were like, Hey, why don't we just invite? We had suggested it and wanted it as well, and they were like, oh yeah, why don't we invite him to join? So I didn't have to carry all those finance questions. No, thank God Drew dealing with the whole accounting firm coming in, God, not my favorite subject, quality of earnings. And then legal, well, obviously there's a lot of legal, but for us, SMS, so we were doing SMS, so they were super worried about SMS. That wasn't fun. And then the Supreme Court ruling came out during our process that basically made it a non-issue, but it was a week too late. So we had already spent all these attorney fees even on our end, on going back and forth, and then it all got wiped out and didn't matter. So at least it got wiped out and didn't matter, but it was still, it was a bill I could have skipped.

Drew Sanocki:

If you could sum up the last five years, what are some key takeaways? What are some pieces of advice you'd give somebody else who's growing A DTC business or an Amazon business now? 

Garret Akerson:

I think you need different skill sets depending on the lifecycle or where your business is. I think any company that wants to get beyond 5 million in revenue, the number one skill you need is how to recruit and hire top talent. I see so many companies that have no process and no clue on how to interview and build amazing teams. I've only briefly talked about our team. Our team is phenomenal. We have about 60 employees and our entire process that we developed over the years for hiring and recruiting,

It made a huge difference.

Drew Sanocki:

Are all 60 up there in Oceanside?

Garret Akerson:

No, we've been remote from day one, so all over the US and the Philippines and Canada. I think we have 16, 17 team members in the Philippines. 

Drew Sanocki:

High level. What's the process look like for you guys?

Garret Akerson:

We don't do any resumes. We never ask for 'em. We do an intake form where you fill in questions. It uses some of top grading, so it pulls in some top grading questions more or less, and then some culture questions and then some really basic ones like typing speed, can you use tech, can you type? And then that gets all filtered down into a group interview, but it's a group interview where it's 10 candidates and two team members. So it allows us to get through a lot of candidates at once. So we'll usually have three groups of 10, so 30 we'll get a pool of a hundred, 160, and then that'll be 30 individuals that make it to group interviews, which is three groups of 10. And then only three or four people make it into one-on-ones. And I think it's just that whole funnel. It's like a marketing funnel, Drew. It works.

Drew Sanocki:

So this is for your customer service and ops people?

Garret Akerson:

Yeah, well, it's for everything, but yeah,

Drew Sanocki:

Even so marketing people, merchandisers,

Garret Akerson:

All marketing, merchandising, everyone. The only caveat that it has not worked well for is accounting. Can

Mike Maher:

You expand on the three groups of 10? So this is two on one, just kind of speed dating for, I don't know, 15 minutes, half an hour, and you just spend a day doing that or how does that work?

Garret Akerson:

No, so it's 10 candidates and it's an hour long interview all at once on a Google Hangout or Zoom this.

Mike Maher:

There's two people and 10 candidates like a reality TV show,

Garret Akerson:

And it's only three or four questions and they're almost all cultural questions, but it's amazing what you can get out of a group interview like that where you see all the candidates head to head together,

Drew Sanocki:

Cultural fit

Garret Akerson:

Questions, it's cultural fit, it's easy questions. That's

Mike Maher:

Incredible.

Drew Sanocki:

As your two interviewers determine that someone is not a fit, can they just drop them off the call or is that 

Garret Akerson:

No, that would be too reality TV.

Drew Sanocki:

You're not left with just one person? No, this is like you need an email marketer or you need a paid ads person. You have 10 paid ads, people experts being interviewed by probably in that case you and maybe your CMO or something. It's more cultural fit. It's not so much what would you do with this funnel, that funnel? It's more like how do you work?

Garret Akerson:

And then this interview, the one-on-one interview after that is a doing interview, so that's more like, Hey, can you do the job? All based on Cameron Harold from 1-800-GOT-JUNK. He was the COO of 1-800-GOT-JUNK, and I met him at a conference and was talking to him about this process and we've used it ever since. And it's phenomenal. Nobody uses it. Everybody thinks it's a little weird, especially at first if you're in the process, it kind of, it's totally flips the model on its head, but everybody comes away with a super positive experience. You get to see all your competition, all the other candidates. We make it fun. It's not meant to penalize you in any way, but at the same time you get so much good data on just even nonverbal cues. Is somebody engaged or not engaged? Did they join early or late? Do they ask good questions? And it's pretty easy to compare candidates rapidly when everyone's together.

Drew Sanocki:

You're asking a question and then everybody has a chance to answer or is it sort of

Garret Akerson:

Yep, you ask one question. So one of the questions is tell us a little bit about yourself and someone you view as a role model. And then Garret, let's start with you. And then we just go around, everybody gets a turn and then we'll ask the next question.

Drew Sanocki:

This is awesome.

Mike Maher:

Is it like a timer? Is this an Oscars? You start playing the music and pull 'em off the stage or

Garret Akerson:

No, that's the other totally fascinating part. We will say, Hey, we want to take about a minute or two to answer this. And so you'll see Mike, people that are long-winded and talk forever, and some people are super short. And then you'll see if it goes really long, it gets awkward. And what are the other candidates doing? Do they not like it? Do they like it? No, it is totally organic. You just let it go and they're all different.

Mike Maher:

This is such a cool thing.

Drew Sanocki:

You get your team and your remote team at this point. How do you, man, I don't want to take up any more of your time. We've used a lot. How do you maintain a culture as a remote team? How do you create norms with 60 people all remote?

Garret Akerson:

I think just being remote, you just have to be more of a written culture than a verbal one. If you have an office, a lot of it's verbal and you're coming in and hanging out and talking to people, whereas remotes, you have to be a pretty strong written communicator. Slack or email? No, I mean we have a lot of fun hangouts as well, I think. And culture from an early standpoint, we were pretty intentional, like how we wanted create it. We have these cool things where we did, we call 'em brave cards where every team member gets one of these where it's like how we can support each other. Things they're focusing on. They're not all business and then we use 90 day sprints kind of taken from the one thing. Or if you were using traction, it'd be like your rocks, right? What's the one thing you're focused on this quarter as a team member? Lots of other stuff. I could go on and on about that, but

Drew Sanocki:

Well, it does sound like the traction model, Garrett, that you're more of the, you are the integrator, is that the head, the visionary, the visionary, set the vision, established culture, come up with those norms, and then ideally you pair yourself with that good integrator who can do more of the management of the team.

Garret Akerson:

So we happen to hire a phenomenal integrator. Our president, she's amazing, and I'm totally the visionary. That's what I enjoy doing. If you're looking at the traction model,

Drew Sanocki:

Awesome. You guys use that.

Garret Akerson:

So we use a lot of stuff. Again, going back to part of our culture, we say we're good at absorbing content and implementing it. So yes, we use Traction, but we don't use it like verbatim. We don't call 'em rocks, but we essentially have a level 10 meeting and we call ours MIT's most important things, or that kind of goes into our 90 day sprints. So yeah, we took what we liked from Traction and used it. This was really interesting and I really appreciate you joining us. Yeah, thanks for the invite. This is fun. Thanks for sharing Garrett.

Announcer:

On this season of the Nerd Marketing podcast, you'll hear from the Wharton professor that literally wrote the book on customer centricity, along with Drew and Michael's experience in private equity and advice from VC firm partners on what they look for in investments. And you'll hear topics about brick and mortar retail strategies for CPG brands and much more. Alright, Drew and Michael will be back very soon.

Transcript

Announcer:

Welcome to Nerd Marketing, an original podcast for ecommerce operators and marketers looking to level up. Drew Sanocki and Michael Epstein will bring you actionable strategies from their decades of running eight and nine figure brands along with interviews and insights from the leaders of some of the most successful brands in the world.

Drew Sanocki:

Hey everybody. Today I talked to Brandon Park who runs marketing at 100 Thieves. Check out 100 Thieves, really cool, brand big in the gaming category. It's rare to talk to another fisherman who fishes in the same lake, that lake being private equity backed holding companies and roll-ups and growing businesses for profitability and not just top line growth. Brandon's done all that and so it was really interesting to hear his insights on how to do it. He was previously the CEO of Homesick Candles, which is a candle brand owned by Win Brands Group. So without further ado, Brandon Park. So what do you want to talk about?

Brandon Park:

I think we have a lot in common, actually. I have seen and been following your Twitter for quite some time, have heard about you from a number of different people. I think your ethos is something I ascribe to, which is basically you don't have to burn cash all the time. DTC is still a business, so at the end of the day, I think you want to make a little bit of money and I think that's something I have ascribed to for a number of years and I think it was probably what was lost over the last maybe three to five years. And I think that's kind of the reckoning that the whole industry's kind of going through. So that's where I always kind of followed along what you had to say with rapt attention because it really rang true for me. 

Drew Sanocki:

Yeah, I was looking at your background too, and I think it's rare to find somebody else who's kind of played in that private equity side. I'm generalizing, but the emphasis is on cash flowing businesses and maximizing the discounted future cash flows of a business.

Brandon Park:

There's also pressures, I think, from investors, the different types of investors that we work with as a holding company and also obviously on the PE side where you kind of have an expectation where you're not going to just burn a hundred percent of revenue every single year to fund growth. I mean, that was never the approach that I took, and so it was nothing that I ever thought was that interesting. I always thought of everything like a grocery store, a laundromat, a gas station. It was just like how do you grow and make a profit? And it's just in the case of DTC and e-Commerce, I think the hurdle rate for growth is just a little bit higher, in some cases, a lot higher, but you're still trying to make money.

Drew Sanocki:

Was Homesick your first kind of turnaround? Would you call that a turnaround?

Brandon Park:

I would call it a little bit of both. So I was at Win Brands, which was just acquiring businesses that actually happened to be our first acquisition. It was a pretty small business, it was about 3 million or so in top line, just about breakeven. So obviously at that size, not making, not really in the middle of the wheelhouse in terms of our thesis of scaling brands efficiently, but I would say it was a little bit of growth with a sprinkle of a lot of p and l fundamentals to help scale and fuel that growth.

Drew Sanocki:

I mean, it's a success story. You got that cash flowing and growing pretty quickly.

Brandon Park:

I always viewed that business through the lens again of just what are the key buckets on the p and l? What are our goals and what levers do I have to pull? And for me, it was always okay, on the revenue growth side, the business was born DTC, so it was the classic A OV basket traffic. How do you maximize those pieces of the puzzle? And for us, day one, it was traffic is the hardest piece of this. And so that was one that we really wanted to hack right away. So our strategy was to leverage everything that didn't have the meta Facebook or Google or Instagram label. So he really tries to minimize spend there to keep things very, very efficient. And how we went about acquiring those eyeballs was through partnerships, through collabs, through other larger brands, PR machines. So our first major project that we did was we did a collaboration with Dunkin Donuts, now known as Dunkin.

And we launched a couple of candles that smelled like some of the Dunkin Classics. And as part of that deal, they leveraged the entire full force of their PR marketing machine on social through TikTok, through PR, just standard press and publications to really shine a light on that. And what was great about that was we were known as the sort of cool Gen Z, millennial vibey fun product. And I think Duncan really wanted to be a part of that. And we of course benefited because just the Duncan brand is so well known that we were able to reach outside of our core onion. So we did that quite early on. That was in 2019, and we quickly realized, okay, hey, we have a stable core of products that are high margin, high volume New York State candle, for example, Southern California candle, the ones that sold all the time.

And we would use these collabs to sort of up the ante every single time, grow that onion a little bit, grow more eyeballs onto us so that down the line we do a little bit of remarketing. We're not having to prospect so much. People are more aware of the brand and they're coming back to the brand. So that was our strategy on traffic. And then the other buckets on the p and l, I mean for me there's three major ones. There's fulfillment, there's cost of goods, and then there's marketing, which kind of gets bucketed in with a whole bunch of different things. But the first area we focused on was on cost of goods. So initially the brand was producing candles, kind of hand poured, running like a few hundred at a time, very, very, very low efficiency. So we quickly dug in there, we said, how can we order just the glass of thousands of pieces of glass?

How can we order the labels and then be able to print on those labels down the line? How do we scale this so that the costs of goods are somewhere where our product margins were 85% plus? So that was number one. Fulfillment. It's a kind of a heavy product. It breaks. So we were very, very conscious of let's minimize breakage. We figured out how to best create packaging where it would be able to make it to its destination without blowing up or cracking basically. And how do we also optimize the number of different products? So we really pushed people to buy two because we knew at two all the carrier rates we scale at one, we are just about breakeven. So that was the area there. And then on marketing, like I said, we tried to do everything but spend money on Facebook, Google, Instagram, so that included a little bit of direct mail in 2019. We were on podcasts, we were on the radio, a lot of pr. We have an in-house, we had an in-house PR team that was just running 24 7 short, medium long leads. And those were the main three buckets that I looked at day in, day out to make sure that hey, we're growing, we got eyeballs, we got traffic, but also the rest of the p and l is looking healthy.

Drew Sanocki:

That's awesome. That's textbook man. The three multipliers on the only ways to increase revenue, more traffic, more customers, higher basket size or AOV and then retention. And it's like you did the top tactic in each one. Did you increase prices at all? 

Brandon Park:

We did. We did, and we debated over that quite a bit because the first time we took price was in 2020, actually April of 2020, which of course was kind of a scary time in the grand scheme of the world, but it was just something that we saw our costs increase. We knew we had to, we hadn't taken price in three years, and so it was part of the plan to do it and we kind of just stuck with it. But I think what helped us was we were very upfront with at least our existing customers in explaining why we were taking price. It was part of the business. We were seeing our cost increase. We had an increased price in three years, and actually what we saw after we increased price was we did a whole analysis price elasticity and looking at what we thought might be the drop in volumes, maybe 25% we estimated, but we actually saw that volume stayed stable and then throughout the course of that summer they grew. It kind of had the natural covid tailwinds, so we didn't really see a drop there, and I think just being open and transparent was really helpful.

Drew Sanocki:

That's great. We did that at Overtone. It worked really well. We increased the price. It worked, and then the first thing the board said was like, okay, increase it again.

Brandon Park:

We actually got the same feedback. It said, it looks like you might have room for a couple more dollars, but we held the breaks at least for the next 12 months.

Drew Sanocki:

What is it? The candle space? The candle categories, surprisingly one of the most innovative I think in DTC. I remember Justin Winter in Diamond Candles, his story 10 years ago or something. It was all about driving down the cost of acquisition. For him, it was rethinking the viral element around opening the box that he had all these customers posting it to Facebook so he didn't have to spend a dime on ads. There was a community around opening the box of candles.

Brandon Park:

I think that's one of the interesting things about anything that's olfactory or has to do with taste is that we had an opportunity to choose whether we wanted to be a scent business, like the Dipti of the world, the super high-end Sr tr Dawns like the French fragrance houses or even the Yankee candles, the mass kind of appeal. Where we decided early on was we were going to be in the business of creating memories and evoking memories. So we never called ourselves internally a candle business. We were in the business of memories. So it was Grandma's kitchen, it was Hanukkah, it was Southern California, it was India, whatever it might be, and then it became Bush Stadium. Now the business is doing Barbie collabs and all these different things. So it's about nostalgia. It's about creating something that's more than just lighting your candle after you cook or something. It's about evoking something every time somebody chooses to light that candle. And I think that's what gave us that advantage was that, hey, look, we're not Diptique. We use the highest quality fragrances. We have the best quality cotton, wicks, organic, all natural soy-based, all of those things. But we were never in the market saying, we're the best smelling candle you will ever buy. We were an affordable candle that brought you back to something that you really loved. And that was what we built our business on.

Drew Sanocki:

It's an organic all natural smell of Bush Stadium in your house.

Brandon Park:

Exactly.

Drew Sanocki:

Kind of curious now, what was Bush Stadium smell like? Is that hot dogs and stuff, or did you guys go like the locker room at Bush Stadium?

Brandon Park:

A great example is early feedback for our New York City candle in social on Instagram, in our stories and everything was New York must smell like fill in the blank. 

Drew Sanocki:
It doesn't smell good. I got to say the subway does not smell good. If you went New York subway candle,

Brandon Park:

Exactly. The subway, the sidewalks kind of in the middle of August can get a little gnarly. We evoked Central Park, the smell of fresh cut grass, pine, all the things that you could relate to on a level that doesn't relate to some of the bad stuff. So similarly for Major League baseball parks, yes, I mean like hot dogs, but the smell of grass if San Francisco, the cool Sea breeze coming in off the bay, those types of things. So we took some liberties in suppressing some of the nasty stuff and really bringing to light and emphasizing the good stuff.

Drew Sanocki:

That's such a fun job. I assume it was somebody, maybe you were coming up with the smell. I don't know. I think stay tuned. We're going to work on a nerd marketing scented candle this podcast. 

Brandon Park:

What would be your scent? I

Drew Sanocki:

Think the smell of freedom. Maybe the smell of data-driven marketing.

‍

Brandon Park:

I love that. So I'm thinking about Mountain Breeze. We should chat.

Drew Sanocki:

So you didn't sell that company. It's still within the Win Brands Group portfolio, right?

Brandon Park:

It's still within the Win portfolio still chugging along and it's been a couple of years since I've been there, but they've since acquired other businesses doing very well, adhering to the same principles. So it's one of the few businesses that I hear of aggregators, so to speak, that continue to stay growing and stay profitable.

Drew Sanocki:

So I mean I haven't checked up on Thrasio a while, but I'm guessing that was one of the more famous aggregators rolling up Amazon businesses that really didn't have a lot in common and I think they've struggled and yet you guys, I ran an automotive rollup that did well I would say until Covid and then it didn't because we ran out of supply. But that's probably not fundamentally related to the thesis around a rollup. What would you say were some reasons why Win Brands is succeeding with the rollup concept? 

Brandon Park:

I think embracing number one, similar brands that have similar audiences just naturally allows the business to target audiences in a more efficient way. Not necessarily through Facebook or Google any sort of paid acquisition, but even just through the adjacencies that are created from a business, Love Your Melon and Homesick, they just go so nicely hand in hand. So I think that's one, and I think number two is I think it was employee three there in 2017 before this concept of aggregator was kind of mainstream. We really embraced this sort of multi-channel approach. So we were never going into a room saying, no, we only sell online directly to customers. We own the first party data. We want to own everything. We were never about that. We always said, look, let's strategically go into Amazon. Let's become a seller in the three P marketplace. We were totally open to discussing all the inbounds that came in.

Actually in the early days we didn't even have the infrastructure to deal with retail, but we had those conversations and we kind of Jerry-rigged, no EDI or anything like that. We managed shipping goods to Saks and a few of the sort of large retailers as well. So we were always open to all of the different channels, but only insofar as the margins made sense to us. So for example, we would always launch into Amazon thinking about how we would assort so that we wouldn't have a hundred percent overlap of SKUs. We could sell some things that were DTC exclusive, we could sell sort of the heavy volume hitters on Amazon to make sure that we were hitting those billions of eyeballs every day who are coming in. And then we wanted to create special items or really put in only the bestsellers that made geographical sense, for example, for retail.

So in New York we would stock it full with the New York State candle, New York City candle, we would do the same in Charleston, we would do the same in Southern California. So we tried to be very strategic and we opened our arms to all those different channels very early on because already at that time you're starting to see the stories of the digitally native, the DN, VBS kind of doing this a little bit and starting to open their own retail stores and trying to figure out the unit economics of being in retail and all that. So I think that was a big advantage that helped us with that. I don't think a lot of the larger aggregators necessarily have embraced yet, though. I think they will.

Drew Sanocki:

It's definitely a theme. I think that's been in our last few podcasts because I mean having worked in private equity, the private equity funds love the concept one plus one equals three. You add businesses onto the portfolio company and can take costs out every time. You only need one accountant, you only need one HR person. And then you've got Warren Buffet who sort of famously has never done that. He owns so many different businesses and he says synergies are kind of BS.

Brandon Park:

I think the key differentiator between the really successful aggregators and the ones that are kind of continuing to find their way is that if I use Win as an example, we really wanted to level set some of the key line items on the P&L. So for example, in terms of fulfillment, every time we acquired a business it was a different 3PL or a different fulfillment sort of like system. We set all of those to be within the same three pl. We use a three PL partner and that just creates scale. We become a business that's doing a hundred million of revenue rather than signing an SOW for a brand that's doing 15 million. So I think that was really, really important. Something that we committed to very, very early on. Some of the aggregators, they might own a hundred brands and they've got 43 different three pls, and I think that's where the larger you get and the faster you grow, it becomes harder to integrate. And then when you're still using QuickBooks for example, and you try to integrate a hundred entities backwards into NetSuite and then you try and figure out all the accounting going back a few years, it gets a little messy. So we really, from the beginning, we believed in growing in a sustainable way. So we never added 20 brands in a year. We took one brand, made sure it was integrated, we're operating efficiently and we continued.

Drew Sanocki:

You left Homesick and Win Brands and you've gone on to now run marketing at  100 Thieves. Would you call a 100 Thieves a rollup? Because there are three brands, three or four that I know of, right? All under the same or at least in the same office in la.

Brandon Park:

I should note that I was at one of the aggregators that is a competitor to Thrasio that was very, very focused on Amazon, only called Branded. Since then, I have joined a 100 Thieves and what I call a 100 Thieves a rollup. It's not the strategy of a 100 Thieves to actively go out and acquire businesses. What I found interesting about Hundred Thieves was that everything that every consumer brand buys for hopes for in terms of creating a community and an organic sort of audience, 100 Thieves has naturally just by virtue of it being a creator led and a creator founded organization. So what I found interesting was that there's so many different eSports organizations out there that don't take advantage of that audience in a meaningful way to create a connection, whether it's through products, selling things, selling products that that audience might enjoy and that might create a connection with those founders and creators.

Nobody else was really doing it, say for a few folks out there selling merch basically. And so it's been very interesting because they have this revenue multiplication. Basically you have those three sort of line items. Traffic again is kind of not at the top of our list of trying to grow or desperately try to solve all the time. We know we have a very active, very engaged audience, and so the key becomes creating products that are truly special that resonate with that audience and then growing that audience into adjacencies where we can sort of build the total scope of people who are interested in our brands a little bit more. That's the thing that I found the most interesting is it's almost got a built-in eyeball machine. And so what we have to figure out is looking at those other levers that we talked about on the p and l, making sure that we're pushing and pulling the right ones and we're scaling in such a way that we continue to be profitable. The growth has not been a challenge, I will say.

Drew Sanocki:

Did you know what they were when Hundred Thieves reached

Brandon Park:

Out? I did not know. And funny enough, I did not know anything about gaming before I joined a 100 Thieves.

Drew Sanocki:

We should probably explain. I have a child who games, so I know John invited me, who is the CE president of Hundred Thieves invited me to headquarters in LA and you go into this big black warehouse-y building, the compound they call it in right Inside are sort of their equivalent of the Super Bowl trophies from gaming competitions, call of Duty, I don't know. You would know the Games now. Better

Brandon Park:

League of Legends and Valant.

Drew Sanocki:

Yeah, the big ones, right? They are a sponsor of gaming teams. The top gaming teams are a 100 Thieves gaming teams. They train in the building. There was a simulator there with a bunch of teenagers, 20 year olds and a coach who had a clipboard.

Brandon Park:

Yes. Oh yeah, full on. We have coaches, general managers, our SVP of eSports runs and manages that whole business. Yeah, it's a major organization for sure.

Drew Sanocki:

There was kind the one-way mirror. You could stand behind the mirror and you'd watch these kids' game and they're taking notes like, Hey, John's a little slow on the whatever. Yeah, that was cool and impressive. And then the whole place had that vibe. There are controllers everywhere in keyboards, and I knew there were three or four brands that you operate out of that facility.

Brandon Park:

Yes, three brands. So kind of our legacy, our kind of claim to fame is the apparel business. So we take merch, we dare not call it merch because we create something that is more akin to sort of a Stone Island kit. This is sort of what we believe our brand can represent and can be. So we have a street wear apparel business called Hundred Thieves, the namesake. We have a energy drink business called Juvie, which was just launched in October of last year and is growing just like a weeded. And we have a gaming peripherals business, keyboards, a mouse pads, all the peripherals that go into your sort of gaming setup and station called High Ground. High Ground and juvie are quite new to the world and in addition to a 100 Thieves, whereas the apparel business is now in its fifth year. So it's a good mix of, I would say channels.

Obviously the apparel business is something we like to keep DTC. The energy business is something that over time is going to scale massively into retail and high ground is a business that could really do any of DTC, Amazon or retail and the audiences are different, but there's a common connector again, which is the Hundred Thieves organization and all of the creators that we have. And so it's kind of interesting to see the hardcore a hundred T apparel person is an arm's length away from the hardcore juvie drinker who drinks a jovia a day. And so that's the interesting part about running brands out of the compound so to speak, is that they're all kind of fueled by the same engine. It's just that the model of the car is just a little bit different.

Drew Sanocki:

That's awesome. And I think the key thing there is you've got leadership sold in that there are synergies there, so it can really be top down because at auto anything we're selling largely commodities for your car. There was nothing that differentiated the brand on YouTube. There was this channel Hogan out of Long Beach that every time they released a video, we'd get as many views as the Super Bowl, right? Drifting videos and it was run by the team from DC shoes and we pitched them and then we ultimately built a store for them and sort of transaction enabled their business. But the challenge we always had was it was two different organizations. And so the creative team at Hogan was always sort of thinking content first and audience first, and they were reluctant to just say, oh, you can buy this online at our store. Even just getting that sort of call to action was difficult. I've seen it work in other properties and certainly for you guys, you control both, which I think is really important. The content generators and then the product. What's the vision for bringing these three brands together in leveraging that funnel? 

Brandon Park:

I think been the interesting challenge for us because they're all sort of born out of the same interests. And so our next challenge and the next step forward for us is to be able to create kind of a standalone path for each of the brands. I think the apparel business by its very nature is always going to be associated with Matt, our founder, Nateshot, and everything that he's accomplished and done throughout his career, it's always going to have that. And I think that's a great thing because it's always going to have sort of its own history and foundation to sort of live on. The interesting challenge now is for juvie and for high ground, how do we push those into audiences who may have never heard of Hundred Thieves or who may have never played a game in their lives? And I think that's where the challenge of the initial growth has been beyond anybody's expectations, frankly, and it's been really good.

But what we're thinking about now is juvie as it competes alongside the Celsius, the Red Bulls of the world and how it finds its own place. And I think we've done a really good job of creating a really deep community for that, which is different from every other energy brand that is in the market. No other energy brand has the sort of engagement on Twitter when RGM Sam tweets something on Twitter that people are going to respond and then Sam's going to respond right away. So that level of engagement is unmatched. And then with High Ground, I mean some groundbreaking collaborations with IP that is just hugely popular, not just for gamers, but in the world of anime, in the world of gaming, in the world of, we've got a lot of really cool stuff that I can't really mention yet, but that's going to expand the onion even further. So that's kind of our next step, and I think we have a great basis on which we can stand, which is kind of that a 100 Thieves core engine, and now it's about revving it and giving each of these brands room for them to run on their own.

Drew Sanocki:

It certainly has been done in sports. I would think like NBA apparel comes to mind where everybody wants to wear Jordan's and they've never played a lick of basketball.

Brandon Park:

Right. That's exactly right.

Drew Sanocki:

I guess we talked a little bit about growth, but what would you start today if you were starting over, what opportunities do you see out there?

Brandon Park:

I think that is a really interesting and fun question. I think my experience is such that rolling things up, I just see massive, massive benefits to that. What I would do would be to look at a rollup of DTC first businesses with channel scalability, so viable on Amazon, viable through retail as well, but in a really mid to long tail niche. So if I pick candles for example, I would pick something that's not even, I would even call Homesick right now, middle of the pack to very popular, those types of candles are now all over the place. I would pick something that Gwyneth Paltrow did something a little bit funky a couple of years ago, probably people can Google it or they already know it, but something that is so different and so evocative in that way that it has the potential to spark something in people that's a lot longer tail.

And then I would start to just collect all of those different brands, put them under a single platform, and I think it's so simple and easy to start to create scale with those just by ticking through the line items. I think fulfillment is the one that a lot of founders, CEOs of brands, they just are so focused on customer acquisition, cac, AOV, how do we build the basket? All those are obviously very fundamentally important. I think it gets missed a lot is all those other things down below that are not so sexy that people don't really talk about or write blogs about or write huge Twitter threads about. Those are what make you money at the end of the day, whether it's you want to grow the business and exit, whether it's you want to just start your own thing and be able to cash flow and live off it, whatever the goal might be.

That's what I think is really important. So for me, the rollup play long tail. I have sort of specific rules I kind of touched on, but high product margins, fulfillment, sub 15% is probably a good target. And I think some great examples of finding those niches and doubling up would be like a Congo Brands, which owns Prime Hydration, Alani Nu, 3D Energy are really, really focused and specific on what they know, and then they're able to scale that really, really efficiently. The other one that comes to mind is actually a PE fund called WM Partners. They're wellness focused. They sell a lot of their goods on Amazon, so they've sort of chosen a channel and they've got Ultimate Replenisher, Jade Leaf, FGO or some of their bigger brands, but they really doubled down on that channel. They know what their expertise is and they're able to scale it. So if I were starting today, I wasn't part of a 100 Thieves and I was just doing my own thing, I probably would look to acquire something kind of similar that's longer Tail and then just kind of keep going from there. 

Drew Sanocki:

That's awesome. I would do the same thing. I think buy versus build, there's a lot to be said for it. And I don't know, I feel like now entrepreneurship in my 50s is buy and optimize. It just removes a lot of risk out of the equation when you buy something that already has cash flow, already has revenue, already has customers. Well, thanks Brandon. I really appreciate you taking the time.

Brandon Park:

Thank you. It was a privilege and a pleasure to be on with you.

Drew Sanocki:

Get out of here. How can people get a hold of you? Do you want people to get a hold of you first of all? If the answer is no, that's fine. 

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Brandon Park:

Sure, yeah. LinkedIn is probably the best channel, but I can leave my email or anything if people want to get in touch. I'm very, very open to new connections, to talking shop, swapping ideas, learning all those good things.

Drew Sanocki:

Yeah, everybody check it out. Check out a 100 Thieves. Really interesting business and it's just different, which is kind of exciting and I'm excited for what you're going to do there.

Brandon Park:

Thank you very much. Thanks for having me.

Announcer:

Thanks for listening to Nerd Marketing. Don't forget to check out all of the other great episodes, some of which include interviews with e-commerce Marketing Masters, working with Mr. Beast and Joe Rogan, plus Drew and Michael's experiences in private equity, advice from VC firms on what they look for in investments and so much more like share, subscribe, and tune in every week for a new episode.