In Episode 360, Nathan has a chat with Cam and Akin, founders of Baby Mori. Their business was started in 2015, and it is already seeing 50% growth each month. Learn about Cam and Akin’s recipe for success as we discuss their products and how their business is run. They are showing incredible numbers for their startup, so let’s take some notes on how these two single guys saw financial success in the baby industry.
- Favorite Business Book? – Zero to One
- What CEO do you follow? — Elon Musk
- Favorite online tool? – Google Hangouts
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be? — Go for it, in terms of entrepreneurship
Time Stamped Show Notes:
- 01:26 – Nathan introduces Cam and Akin, founders of Baby Mori
- 01:44 – Cam and Akin target gifters
- 02:20 – Cam and Akin explain the company
- 02:51 – Revenue came mostly from parents and gifters buying directly
- 03:22 – They talk about their multiple skews and how they manage them.
- 04:43 – Their sleep suits are their best sellers.
- 05:25 – Margins are 1:4 or 1:5
- 06:35 – They talk about their other expenses and their net margin, which is very low.
- 07:32 – Sales and marketing are limited costs.
- 08:21 – Their shipping is free to the UK only, but they are finding other ways to get to the US and other countries with low shipping costs.
- 09:15 – The business was launched in 2015, and is a very new startup.
- 10:21 – Their goal for this year is about $600000
- 10:51 – The business has strong numbers and statistics
- 11:23 – They discuss their number of buyers.
- 12:00 – The business owners talk about their subscription system.
- 13:20 – Their latest success is to have raised $1 million in priced equity.
- 14:50 – Their growth is 50% each month. That and other characteristics make them appealing to investors.
- 15:29 – Nathan discusses data in the baby business.
- 16:44 – People can connect at com
- 19:04 – Nathan goes over the Famous Five
3 Key Points:
- Cam and Akin have low costs to produce their products.
- Baby Mori focuses on getting the product to the client in an affordable manner.
- A company with significant monthly growth, like Baby Mori, is appealing to investors.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
- Show Notes provided by Mallard Creatives