Rhone - Why Ignorance is an Entrepreneurs Best Friend (at times)

The Story of a Brand

Ramon Vela

Business, Entrepreneurship

5 • 145 Ratings

🗓️ 22 January 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

While working for the NFL (which would be a dream job for most) Nate Checketts, CEO & Co-Founder of Rhone, saw an opportunity. He noticed that almost all of the innovation that was happening in activewear space was happening on the women's side of the business. So after a discussion with his co-founder and some research, he decided that they would launch their apparel brand. There was just one small challenge, they knew nothing about fashion or eCommerce or really anything about building a brand from the ground up. But what's a small problem like that to an entrepreneur?

In part 1 of this insightful episode, Nate discusses Why they chose to be digitally native from the beginning, How & what he learned about making the best products possible, Why every company needs to be a product company at its' core, Why if you don't create great products you don't deserve to exist, The three Mega Trends that they used to grow their brand, What were their mistakes, What they did right, Why it's important not to be complacent, Why email is their number one channel by far, How it's dangerous for a startup to live in an echo chamber and so much more.

Join us while Ramon Vela interviews Nate while he shares the inside story of a brand.

For more on Rhone visit: https://www.rhone.com/

Visit the partners who make this show possible:
Privy - https://www.privy.com/cf
Fenix Commerce - https://www.fenixcommerce.com/
Retention Science - RetentionScience.com

Transcript

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0:00.0	Recorded at Retention Science Studios, this is not your average entrepreneur or e-commerce
0:10.9	podcast, and he's not your average host.
0:14.4	This is The Story of a Brand with your host, Ramon Vela.
0:21.4	Every company needs to be a product company at their core, at their heart.
0:26.0	When I hear about big consumer companies coming out and saying that they're really a technology company,
0:30.9	I'm like, let the technology companies be technology companies.
0:34.0	We want to be a great product company.
0:36.5	If we can't create product that's best in class, then we really don't deserve to be around
0:41.3	because otherwise we're not disrupting anyone.
0:43.3	You know, Nike and Little Lemon and all of these existing brands can have an e-commerce channel,
0:50.3	but if we don't make product that's better than theirs, we don't deserve to exist.
1:03.7	You know what stinks? It's spending all your freaking money on driving traffic to your site,
1:09.6	but only converting one or maybe 2% of them to sales. Now, this is a really common problem,
1:13.0	and fortunately, Privy is sitting out to solve this.
1:18.3	Over 300,000 loyal business owners trust Privy with list growth and increasing conversion.
1:23.5	So if you want to increase your average conversion rate, we've got a special offer for the story of a brand listeners. You can schedule a conversion consultation with one of their e-commerce
1:29.0	experts for free, and you can do this by going to at privy.com forward slash CF. Again, that's
1:36.6	privy.com forward slash CF. Hey, my friend that Phoenix Commerce can provide up to a 50% reduction in
1:47.1	abandoned cards. How do they do this? They give your customers an Amazon-like experience by
1:53.0	providing real-time, accurate delivery options on your product pages, card, and checkout.
1:59.1	In other words, they give you the power to enable
2:01.5	discounted two-day, three-day, and four-day delivery promises to your customers using data.
	...

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