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From $0 to $5 million revenue in a year — Raising Capital, Sourcing Suppliers, Lowering Costs & Importance of Product — Ft. Rich Li (July & Brosa)
“Is this a product people want? Is this a product people need? Or is this a product that qualifies as both?” — Richard Li.
In this intriguing chat, our own Max Hertan sits down with entrepreneurial genius and friend Richard Li to dissect Rich's path to success with TWO direct-to-consumer (DTC) companies: July (luggage) and Brosa (DTC furniture).
Rich grew July from $0 to $5 million in revenue in just 1 year; offers customers a 100-day trial and lifetime warranty, and ALWAYS meets his manufacturers in person.
Focusing on Rich's most profound DTC business learnings to date, here's what to expect:
— A brief chat about Rich’s story — coming to Australia; love of earning money, and learning from relationships with names like Groupon & eBay
— Unpacking business principles & company culture
— The right time to raise capital
— How to source the best products
— The keys to negotiating with manufacturers
— Why Rich still packs his own orders (occasionally)
— Prototyping and designing
— Working with PR agencies
— The battle of Brand VS performance
— Lowering Customer Acquisition Cost (CAC) via unpaid marketing channels
— Keeping travel-focused audiences engaged and staying relevant during COVID19
We hope you enjoy the conversation! Keen to join the discussion? Join our Facebook community: MegaMinds (E-commerce growth community). We'd love to hear from you! Feel free to connect with Max or Rich on LinkedIn too
Thinking about getting some advice on how to scale your business? Get in touch with Megaphone for a free strategy session.
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By Evan Bryce Riddle
5
33 ratings
“Is this a product people want? Is this a product people need? Or is this a product that qualifies as both?” — Richard Li.
In this intriguing chat, our own Max Hertan sits down with entrepreneurial genius and friend Richard Li to dissect Rich's path to success with TWO direct-to-consumer (DTC) companies: July (luggage) and Brosa (DTC furniture).
Rich grew July from $0 to $5 million in revenue in just 1 year; offers customers a 100-day trial and lifetime warranty, and ALWAYS meets his manufacturers in person.
Focusing on Rich's most profound DTC business learnings to date, here's what to expect:
— A brief chat about Rich’s story — coming to Australia; love of earning money, and learning from relationships with names like Groupon & eBay
— Unpacking business principles & company culture
— The right time to raise capital
— How to source the best products
— The keys to negotiating with manufacturers
— Why Rich still packs his own orders (occasionally)
— Prototyping and designing
— Working with PR agencies
— The battle of Brand VS performance
— Lowering Customer Acquisition Cost (CAC) via unpaid marketing channels
— Keeping travel-focused audiences engaged and staying relevant during COVID19
We hope you enjoy the conversation! Keen to join the discussion? Join our Facebook community: MegaMinds (E-commerce growth community). We'd love to hear from you! Feel free to connect with Max or Rich on LinkedIn too
Thinking about getting some advice on how to scale your business? Get in touch with Megaphone for a free strategy session.