227: How Supply Went from Startup to Shark Tank

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from startup to shark tank
 

While it may only take a great idea to start a business, it takes a heck of a lot of hard work to build a successful one.

Five years ago Patrick Coddou was unhappily working at his corporate job when he had an idea, spurred by personal passion and necessity.

That idea eventually got off the ground with two successful Kickstarters, and recently landed Patrick and his wife and co-founder, Jessica, on Shark Tank, where they got backing from Robert Herjavec.

This idea, which has now grown into a multi-million dollar company, is Supply, a men’s shaving and grooming company.

Today Patrick joins us to give an inside look at what makes Supply successful today, and the challenges he faces as he continues to grow his business.

Enjoy!

Episode Highlights

  • 5:39 Introducing Patrick and how he started Supply.
  • 7:21 The pivotal role of Kickstarter in Supply’s launch and success.
  • 9:19 Where the idea for Supply came from and the challenge of creating good products.
  • 13:53 Why Patrick wants to grow as quickly as possible with as little outside funding as possible, and the metrics he looks at to track his success.
  • 18:59 What Patrick plans to focus on in 2020 as he further diversifies his marketing channels.
  • 22:26 As Supply is starting to expand internationally, here are some of the considerations and challenges Patrick is facing.
  • 25:48 Why Supply is so appealing in the international market, and how Patrick uses customer service to clarify his value proposition and support customers.
  • 29:57 The post-purchase survey questions that help with Supply’s customer retention and satisfaction.
  • 34:39 Things Patrick’s done in the last year that have had the biggest impact on his personal and professional life.
  • 38:48 The truth about entrepreneurial life that Patrick wants everyone to know.

Links And Resources

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