How Bobby Edwards Scaled Squatty Potty to $28M in Revenue -- #34
Squatty Potty’s CEO and co-creator, Bobby Edwards, talks about how Squatty Potty became the talk of the town when it got picked up by Howard Stern, and how their success on Shark Tank and their viral “unicorn video” ultimately led to $28M in revenue.
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Topics Discussed in this Episode:
- [01:38] How they came up with the idea for Squatty Potty
- [05:12] How they first started manufacturing their product
- [07:15] How they went on the influencer route
- [09:43] How they began to scale their business and crafted the message to get people to respond to their product
- [12:42] How getting on Dr. Oz and being talked about by Howard Stern impacted their sales
- [14:24] How they scaled up in terms of manufacturing
- [16:32] How they went about the process of selecting their manufacture
- [17:36] How they did their PR and marketing
- [22:48] How they got into Shark Tank and ultimately got an investment from Lori Greiner
- [24:54] How they approach taking on a partner and giving away equity
- [27:40] Some of their strategies of getting into retail stores
- [31:21] How they created a video that went viral and raised their sales
- [36:28] How they launched and promoted their video
- [38:50] The one thing they did that had the biggest impact on their growth
- Necessity is the mother of all invention.
- You need to get your message and nail your message before you could scale your product.
- It’s very valuable to get face to face with people and talk to them about your product because then you can see in their face what is connecting and what is not.
- People look for information when you’re trying to sell them something. They look for validation.
- Sometimes your own instinct works better than anyone else’s advice.
- Reach out to writers and bloggers and get the right people to write about your product.
- Talk about your product to people face to face.
- Craft the message that you need to make people respond to your product.
- When it comes to taking on equity partners, choose wisely the people you’re going to partner with.
- Get slow and steady retailers to sell your product.
“There’s no silver bullet, there’s no magic, there’s no one out there that will solve your problems for you. There’s no consultant that’s going to help you create this. It comes from you.”
“Nobody will take care of your baby like you will. There’s not one solution out there that will solve everything. You’ve got to just be resourceful.”
More from Bobby Edwards and Squatty Potty:
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