How Bombas pairs scaling impact and profit

Masters of Scale

WaitWhat

Entrepreneurship, Business, Management, Reid Hoffman, Mindset, Diversity & Inclusion, Jeff Berman, Bob Safian, Startups

4.6 • 4.4K Ratings

🗓️ 10 October 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

David Heath and Randy Goldberg, co-founders of Bombas, join host Jeff Berman to reveal how they scaled their mission-driven apparel company. Bombas donates one item for every one sold, and has given away more than 140 million pairs of socks, underwear and shirts so far to people in need. They recount how the Shark Tank rollercoaster affected their business, why sometimes you have to ignore well-intentioned advice, and what their nationwide network of community partners has taught them about how to combat homelessness.

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Transcript

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0:00.0	Hi I'm Bob Safian and I want to tell you about a new podcast called Search Engine hosted by PJ Vote.
0:07.0	Each week he and his team answer questions about business, tech and society that are on everyone's minds, but are too often ignored the kinds
0:15.1	of questions that if you ask them at a dinner party would completely derail conversation.
0:20.7	Like, who's behind those scammy text messages we've all been getting?
0:24.5	Why are drug dealers putting fentanyl in everything?
0:27.5	And why don't we have flying cars yet?
0:30.0	Listen to and follow search engine with PJ Vote wherever you get your podcasts.
0:36.0	Hi listeners, I want to tell you about another podcast.
0:40.0	It's called Planet Money.
0:42.0	The Planet Money Podcast helps you understand the economy.
0:45.5	They find the people at the heart of every story
0:47.8	to show you how money affects our world.
0:50.4	Planet Money explains every economic concept imaginable, from inflation and
0:54.7	disinflation to how manatees get addicted to fossil fuel.
0:58.6	Listen to Planet Money from NPR wherever you're listening to us.
1:05.0	Every step along the way, including the day that you are filming in front of the sharks,
1:10.0	they are like, just because you are here filming in front of the sharks does not necessarily mean that you are going to air.
1:18.0	That's David Heath on getting picked for the hit TV show Shark Tank with his then nascent sock company, Bobbus.
1:24.4	And here's his business partner, Randy Goldberg.
1:27.0	They give you no guarantees.
1:30.0	If we call you and you do all the work you may not film. If you film you may not air.
1:36.6	So like you cannot bank at any moment until they call you and say two weeks out your episode is going to air you have to act like
	...

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