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Nội dung được cung cấp bởi Tom Hunt and Aaron Kozinets. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Tom Hunt and Aaron Kozinets hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
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How to Pivot During a Crisis and Build a Great Team

46:54
 
Chia sẻ
 

Manage episode 305460831 series 2944096
Nội dung được cung cấp bởi Tom Hunt and Aaron Kozinets. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Tom Hunt and Aaron Kozinets hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
Summary:

In this week’s episode of The Hunting Influence Podcast, Aaron is joined by Michael Siegel, Co-Founder and CEO of Decocrated Curated Home.
Michael discusses how he built and scaled Decocrated from what started out as a small mom and pop shop picture framing business into the industry leader in the home décor subscription box space. Decocrated has won the award for the best home décor subscription box three years in a row. Michael also discusses his advice for building a great team, the obstacles he faced with events occurring such as the mortgage meltdown in 2008, and how he has used influencers to scale his digital marketing efforts.
Key Takeaways:

· Michael started in the home décor industry in 1996 and tapped into an existing business with his partner. He started in the picture framing business and moved that into the large-scale hotel production business.
· Michael worked in various jobs throughout college, always with an eye on learning and improving his skills, working on communication, and on marketing and sales
· He always had dreams of being in marketing and grew up during the times where Nike was doing creative advertising. He got exposed to sports advertising and the whole marketing world which intrigued him to get involved in the industry
· When Michael was 20 years old, he was the head of marketing and sales for a Startup company that was in the space of teaching and working with golf professional and their students.
· After that, Michael worked with his friend and got into the picture framing business. It was his friend’s family business and was a small mom and pop shop. Michael did outside sales and marketing work for the company.
· Michael helped grow the company, as they started selling to bigger and bigger hotels and started securing some properties in Las Vegas and New York. One of Michael’s first big accounts was Oakwood corporate apartments which is the largest corporate housing company in the United States.
· Michael then helped to land Home Depot and Costco, and eventually started to grow the business into all of the big box retailers in 2008. This was the eye-opening launching point and Michael’s big break.
· Michael and his business partner had to constantly challenge themselves to create new and different channels of diversification. They had to pivot their business during the 9/11 attacks and also during the mortgage meltdown in 2008.
· Early on, Michael was still in the world of retail, looking for ways to diversify there. He managed to get one retail customers and then quickly ended up with 20 retail customers. They were the biggest names in the industry with Nicole’s, Michaels, Home Goods, TJ Maxx, etc. At this time, Michael’s main products were artwork and mirrors.
· Michael started expanding his product line and started to build product development teams, design teams, sourcing teams, etc.
· Michael has been in the room with several large retailers and experienced buyers who has been trained on how to see through anything and negotiate. Michael believes the most important thing is to just really be yourself. He believes that if you’re yourself in these meetings and you are authentic, you will win people over.
· Michael transitioned into e-commerce in 2013, after working with retailers successfully for five or six years. Michael tried to keep an inventory free business, essentially producing on demand so that it is simpler for the books and for financials.
· Michael is always looking for the next thing. He always asks, what’s the next thing that going to help him grow and in a lot of cases, help him survive and navigate through roadblocks that keep coming up, whether it’s a crisis, a mortgage meltdown, etc.
· Michael’s company started listing products on wayfarer and on Amazon, via drop shipping. However, he recognized that with Amazon, they own the customer, they own their information, and their ability to sell them other things. Michael wanted to eventually transition and saw an opportunity to own their own group of customers and establish a direct-to-consumer product line
· Decocrated is vertically integrated in ow they manufacture and see their product lines. Michael’s challenge was to keep a price point that was value oriented and he believed the best way to do that was have a subscription box for Decocrated.
· In order to transition into the subscription box, Michael parsed out a team of four or five people that were involved in the name creation, logo design, sourcing, packaging etc. He utilized a lot of the talent available to the company internally, avoiding having to spend a huge amount of money bringing in outside people.
· Michael believes that the thing that has helped his company the most is that the product and brand is amazing which helped them overcome their shortcomings on the marketing side.
· In order to build a great team, Michael focused on culture. He believes that some things can be taught, whereas other things cannot. For example, you can’t teach commitment, you can’t teach loyalty, you can’t teach collaboration with people and being open minded.
· Michael mentions how influencers have been a big part of Decocrated’s marketing strategy and many influencers have become long term brand ambassadors because they love the product.
· Michael’s goal in the next few years is to take the every day person who is looking for convenience to be able to decorate their home with ease. The value of Decocrated’s membership is not just the subscription box, but it is the whole value of the savings that one can have with all of their home décor.
Quickfire Round:

Michael’s morning routine

· Working out with Peloton or Lifting
Michael’s favorite place he has ever been to

· Colorado for skiing, hiking, and other outside adventures
Michael’s favorite brand

· Amazon
If Michael had to choose one line on a billboard, he would choose:

· If it’s to be, it’s up to me
Quotes:

“You always have to create diversity, always have to have people around you that are willing to pivot and change”
If you’re yourself in business meetings and you are authentic, you will win people over”
“If you’re not thinking about the next day, you’re going to get swallowed up”

  continue reading

15 tập

Artwork
iconChia sẻ
 
Manage episode 305460831 series 2944096
Nội dung được cung cấp bởi Tom Hunt and Aaron Kozinets. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Tom Hunt and Aaron Kozinets hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
Summary:

In this week’s episode of The Hunting Influence Podcast, Aaron is joined by Michael Siegel, Co-Founder and CEO of Decocrated Curated Home.
Michael discusses how he built and scaled Decocrated from what started out as a small mom and pop shop picture framing business into the industry leader in the home décor subscription box space. Decocrated has won the award for the best home décor subscription box three years in a row. Michael also discusses his advice for building a great team, the obstacles he faced with events occurring such as the mortgage meltdown in 2008, and how he has used influencers to scale his digital marketing efforts.
Key Takeaways:

· Michael started in the home décor industry in 1996 and tapped into an existing business with his partner. He started in the picture framing business and moved that into the large-scale hotel production business.
· Michael worked in various jobs throughout college, always with an eye on learning and improving his skills, working on communication, and on marketing and sales
· He always had dreams of being in marketing and grew up during the times where Nike was doing creative advertising. He got exposed to sports advertising and the whole marketing world which intrigued him to get involved in the industry
· When Michael was 20 years old, he was the head of marketing and sales for a Startup company that was in the space of teaching and working with golf professional and their students.
· After that, Michael worked with his friend and got into the picture framing business. It was his friend’s family business and was a small mom and pop shop. Michael did outside sales and marketing work for the company.
· Michael helped grow the company, as they started selling to bigger and bigger hotels and started securing some properties in Las Vegas and New York. One of Michael’s first big accounts was Oakwood corporate apartments which is the largest corporate housing company in the United States.
· Michael then helped to land Home Depot and Costco, and eventually started to grow the business into all of the big box retailers in 2008. This was the eye-opening launching point and Michael’s big break.
· Michael and his business partner had to constantly challenge themselves to create new and different channels of diversification. They had to pivot their business during the 9/11 attacks and also during the mortgage meltdown in 2008.
· Early on, Michael was still in the world of retail, looking for ways to diversify there. He managed to get one retail customers and then quickly ended up with 20 retail customers. They were the biggest names in the industry with Nicole’s, Michaels, Home Goods, TJ Maxx, etc. At this time, Michael’s main products were artwork and mirrors.
· Michael started expanding his product line and started to build product development teams, design teams, sourcing teams, etc.
· Michael has been in the room with several large retailers and experienced buyers who has been trained on how to see through anything and negotiate. Michael believes the most important thing is to just really be yourself. He believes that if you’re yourself in these meetings and you are authentic, you will win people over.
· Michael transitioned into e-commerce in 2013, after working with retailers successfully for five or six years. Michael tried to keep an inventory free business, essentially producing on demand so that it is simpler for the books and for financials.
· Michael is always looking for the next thing. He always asks, what’s the next thing that going to help him grow and in a lot of cases, help him survive and navigate through roadblocks that keep coming up, whether it’s a crisis, a mortgage meltdown, etc.
· Michael’s company started listing products on wayfarer and on Amazon, via drop shipping. However, he recognized that with Amazon, they own the customer, they own their information, and their ability to sell them other things. Michael wanted to eventually transition and saw an opportunity to own their own group of customers and establish a direct-to-consumer product line
· Decocrated is vertically integrated in ow they manufacture and see their product lines. Michael’s challenge was to keep a price point that was value oriented and he believed the best way to do that was have a subscription box for Decocrated.
· In order to transition into the subscription box, Michael parsed out a team of four or five people that were involved in the name creation, logo design, sourcing, packaging etc. He utilized a lot of the talent available to the company internally, avoiding having to spend a huge amount of money bringing in outside people.
· Michael believes that the thing that has helped his company the most is that the product and brand is amazing which helped them overcome their shortcomings on the marketing side.
· In order to build a great team, Michael focused on culture. He believes that some things can be taught, whereas other things cannot. For example, you can’t teach commitment, you can’t teach loyalty, you can’t teach collaboration with people and being open minded.
· Michael mentions how influencers have been a big part of Decocrated’s marketing strategy and many influencers have become long term brand ambassadors because they love the product.
· Michael’s goal in the next few years is to take the every day person who is looking for convenience to be able to decorate their home with ease. The value of Decocrated’s membership is not just the subscription box, but it is the whole value of the savings that one can have with all of their home décor.
Quickfire Round:

Michael’s morning routine

· Working out with Peloton or Lifting
Michael’s favorite place he has ever been to

· Colorado for skiing, hiking, and other outside adventures
Michael’s favorite brand

· Amazon
If Michael had to choose one line on a billboard, he would choose:

· If it’s to be, it’s up to me
Quotes:

“You always have to create diversity, always have to have people around you that are willing to pivot and change”
If you’re yourself in business meetings and you are authentic, you will win people over”
“If you’re not thinking about the next day, you’re going to get swallowed up”

  continue reading

15 tập

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