Podcasts about Zappos

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Online shoe and clothing store

  • 884PODCASTS
  • 1,161EPISODES
  • 39mAVG DURATION
  • 5WEEKLY NEW EPISODES
  • May 9, 2022LATEST
Zappos

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Best podcasts about Zappos

Latest podcast episodes about Zappos

RETHINK RETAIL
From the Vault: Zappos' Alex Genov on Cultivating Deeper Connections with Customers

RETHINK RETAIL

Play Episode Listen Later May 9, 2022 31:29


Hello and welcome back to the RETHINK Retail Podcast. On today's episode we are revisiting a discussion from the RETHINK Retail archives. Recorded in November 2019, Julia Hare sits down with Alexander Genov, head of customer experience research at Zappos. A pioneer in human-centric experience, Zappos differentiates itself through its top-tier customer service—a strategy that Genov says helps the brand create a lasting emotional connection with its customers, which in turn, results in customers who are extremely loyal to the brand. Now of course, a lot has changed since we recorded this episode in 2019, and as a result of the pandemic we are seeing many more brands adopt a human-centric approach to retailing, which is something Zappos has been doing for two decades. During their conversation, Julia and Alex explore Zappos' exceptional customer service culture, the power of transparency and trust, and why it's imperative that retailers get to know their customers at an individual level. Thanks for tuning in and we hope you enjoy this special episode from the RETHINK Retail vault.

CX Goalkeeper - Customer Experience, Business Transformation & Leadership
Delivering WOW Through Service with Ryo Zsun from Zappos

CX Goalkeeper - Customer Experience, Business Transformation & Leadership

Play Episode Listen Later May 9, 2022 30:21


The CX Goalkeeper had the great opportunity to interview Ryo ZsunLinkedIn Headline: The Culture Maestro at Zappos | Speaker | Company Culture | Customer Experience Highlights:00:00 Game Start 01:00 Ryo's introduction02:30 Ryo's values 03:38 Why are you working for Zappos? 06:22 What motivate you and all the Zapponians to deliver WOW every day?07:40 How you wow-ed your customers? (internal example)10:08 The definition of Service Excellence11:30 Customer Service examples18:45 Why calling Zappos?20:15 Is there a next level in service for Zappos?22:41 The future of Customer Service 24:15 Book Suggestion26:41 Ryo's contact details27:45 Ryo's Golden Nugget28:41 End of the Game… and much moreall information on: www.cxgoalkeeper.com/RyoZsunRyo's Contact Details:www.zappos.comhttps://www.linkedin.com/in/ryozsun/ Ryo's Golden Nugget:“…if I had to give you a thought to put in your mind, ask yourself… How will I Wow today?”Thank you, Ryo. #customerexperience #leadership #cxgoalkeeper #cxtransformation #podcast #zappos #wow

The Spreading Happiness Podcast
Traumatizing Haircuts, Zappos and Wrestling

The Spreading Happiness Podcast

Play Episode Listen Later May 3, 2022 34:03


John and Mark reminisce about the old days at the Jersey Shore and the surprising haircut that John received. Mark talks a bit about a new John's Crazy Socks partnership with Zappos and being featured in Newsday. John talks about his favorite wrestler among other sports conversations (like the Mets, of course). The boys talk about their Autism Can Do Scholarship and they also feature two businesses to highlight this week: The Dudes at Ringside Podcast and Charlie French Fine Art! More good news, bad jokes and more! Check out the impactful businesses that the boys discussed today: The Dudes at Ringside Podcast: https://podcasts.apple.com/us/podcast/dudes-at-ringside/id1566784147 Charlie French Fine Art - http://www.justcharliefrench.org Hosted by John & Mark Cronin, co-founders of John's Crazy Socks. Visit John's Crazy Socks here: https://johnscrazysocks.com Follow @johnscrazysocks on Facebook, Twitter, Instagram and TikTok. The Spreading Happiness Podcast is produced by Launchpad 516 Studios. For show ideas, guest inquiries, general feedback, sponsorships and media inquiries, drop an email: thespreadinghapinesspodcast@lp516.com Subscribe to The Spreading Happiness Podcast on Apple Podcasts and get notified of new episodes, every Tuesday! https://podcasts.apple.com/us/podcast/the-spreading-happiness-podcast/id1611218712 

Say It Skillfully™
Say It Skillfully® OUR VOICES – Eduardo Rallo Always Dreaming Big

Say It Skillfully™

Play Episode Listen Later May 3, 2022 60:00


Say It Skillfully® is a show that helps you to benefit from Molly Tschang's expert guidance on the best possible ways to speak your mind at work in a positive and productive manner. Episode 129 is the 24th monthly feature of “Our Voices,” intended to accelerate social change that levels the playing field—helping everyone live to their full potential. The aim is for you to see a bit of yourself in these journeys, and embrace—we're more similar than not. Molly is joined by Eduardo Rallo, who shares an epic entrepreneurial journey—selling sweets as a child in Mexico to starting a restaurant chain to co-founding the first US-Mexico cross-border VC firm, Brainstorm Ventures, early investor OpenTable and Zappos! Eduardo grew up in Cuernavaca—a small town outside Mexico City with freedom to pretty much do what he wanted as a child. Son of a refugee from the Spanish Civil War, he attributes his risk-taking and entrepreneurship to his mother and her entrepreneurial family. Unlike most kids, Eduardo was driven to expand his possibilities, and at age 17, he set off for UC San Diego—one family friend the only soul he knew. He recounts early fears and forging a few life, including working through school (a work ethic ingrained as a kid, selling American candies and Hallmark stickers in his hometown…) Hear how an innocent question at age 10 led him to Harvard Business School. His successful food-based business ventures continued post HBS, when he and friends opened a store selling burrito “wraps”—working 7am to 1am, they had lines out the door from the start and VC funds followed… Eduardo talks vulnerably about his first consulting job post-UCSD as the first Deloitte & Touche employee. Enjoy a defining moment: tasked to use Excel spreadsheet skills that he said he had, but didn't... (and pulling 3 all-nighters). Don't miss Eduardo's learnings on his entrepreneurial journey, how he and his wife Sylvia partnered in business, and his early mid-life crisis—leading their 10-year plan to achieve their personal and professional goals. Eduardo is moved by bringing ideas and people together to succeed and shares massive gratitude for his diverse international global community. Privileges he's had in life have made his work with Silicon Valley Foundation meaningful. Many valuable gems, including: -Balance the trade-offs to create business growth AND maintain healthy relationships. -Learn to say “no.” -Organizational skills and discipline to keep routines and prioritize, while staying flexible. Eduardo's courage to “have dreams and shoot high,” his work ethic, family focus, and joie de vivre inspire. He shows the way to succeeding on your terms and being your true and best self. Molly's thought for the week: “With privilege comes responsibility.” More ways to help you #sayitskillfully! * Project the Right Energy https://lnkd.in/gWaaQ8J * All Molly's videos by category here: https://sayitskillfully.com

Beautiful Illusions
EP 23 - The Church of Music

Beautiful Illusions

Play Episode Listen Later May 1, 2022 64:39


Visit our website BeautifulIllusions.org for a complete set of show notes and links to almost everything discussed in this episodeSelected References:2:07 - Listen to Beautiful Illusions Episode 22 - What is Life? from March 2022 (but recorded in January 2022)3:48 - Listen to Luciano Pavarotti sing Ave Maria (YouTube)7:39 - The Righteous Mind by Jonathan Haidt7:54 - The Secret of Our Success by Joseph Heinrich8:03 - This Is Your Brain On Music by Daniel Levitin12:15 - Listen to Beautiful Illusions Episode 21 - The Myth of the Desert Island Self from January 202212:30 - Collective effervescence is a sociological concept coined by Émile Durkheim, read the Wikipedia entry and see “There's a Specific Kind of Joy We've Been Missing” (New York Times, 2021)16:51 - See “About Three-in-Ten U.S. Adults Are Now Religiously Unaffiliated” (Pew Research Center, 2021) and “U.S. Public Becoming Less Religious” (Pew Research Center, 2015)17:55 - Lorna Marshall was an anthropologist who in the 1950s, 60s and 70s lived among and wrote about the previously unstudied !Kung people of the Kalahari Desert (Wikipedia)18:25 - Bowling Alone by Robert Putnam18:35 - Listen to Sean Carroll's Mindscape Episode 186 - Sherry Turkle on How Technology Affects Our Humanity from February 202219:44 - See the Tony Hsieh Wikipedia entry and “The Death of Zappos's Tony Hsieh: A Spiral of Alcohol, Drugs and Extreme Behavior” (Wall Street Journal, 2020)26:21 - Phish34:01 - Listen to Bobby Darin sing “Beyond the Sea” (YouTube)36:22 - Sleeping Giant State Park in Hamden, Connecticut37:12 - Listen to John Prine and Iris DeMent perform Prine's tune “In Spite of Ourselves” (YouTube)37:20 - Listen to “Something” by The Beatles and “The Man In Me” by Bob Dylan (YouTube)41:58 - Listen to “The Weight” by The Band47:40 - Church of Music (San Diego)56:20 - Listen to Beautiful Illusions Episode 6 - What We Talk About When We Talk About Politics  from November 2020,  Episode 13 - What We Talk About When We Talk About Politics Part 2: Just the Facts from April 2021, and  Episode 16 - Partisan Pizza from July 2021This episode was recorded in March 2022The “Beautiful Illusions Theme” was performed by Darron Vigliotti (guitar) and Joseph Vigliotti (drums), and was written and recorded by Darron Vigliotti  

The EdUp Experience
430: The Science of Happy - with Jenn Lim, CEO & Chief Happiness Officer of Delivering Happiness

The EdUp Experience

Play Episode Listen Later Apr 27, 2022 26:51


We welcome YOU back to America's leading higher education podcast, The EdUp Experience! It's YOUR time to #EdUp In this episode, YOUR guest is Jenn Lim, CEO & Chief Happiness Officer of Delivering Happiness, YOUR host is Dr. Joe Sallustio, & YOUR sponsor is the Alliance for Innovation & Transformation (AFIT)! What would the impact on businesses be if CEOs looked at all operations through the lens of happiness for their employees? Can operating with happiness be part of a business model? Find out on this episode of EdUp - we welcome Jenn Lim, CEO & Chief Happiness Officer of Delivering Happiness. Jen discusses the science of happiness & how businesses can make dollars & sense of why an investment in happiness will increase productivity, profitability, & sustainability as a company. Jenn Lim is the founder and bestselling author of Beyond Happiness, and the CEO of Delivering Happiness [DH], a company she & Tony Hsieh [the late CEO of Zappos.com] cofounded to create happier company cultures for a more profitable and sustainable approach to business. Delivering Happiness started as a book (New York Times and WSJ Bestseller, which sold one million copies worldwide) & evolved into a business consultancy and global movement that has impacted & inspired hundreds of companies & organizations worldwide. In her new bestselling book, Beyond Happiness: How Authentic Leaders Prioritize Purpose and People for Growth & Impact, Jenn draws on her decades of experience in culture & strategy to translate it into a practical “how-to” framework for more sustainable workplaces & modern organizational design. Thank YOU so much for tuning in. Join us on the next episode for YOUR time to EdUp! Connect with YOUR EdUp Team - Elvin Freytes & Dr. Joe Sallustio ● Join YOUR EdUp community at The EdUp Experience! We make education YOUR business! --- Send in a voice message: https://anchor.fm/edup/message

Social Media Decoded
What You Need to Know Before You Start Facebook Ads for Small Business with Stacy Reed

Social Media Decoded

Play Episode Listen Later Apr 22, 2022 38:13


Stacy Reed is a pillar in social media advertising having generated over $125 million for some of the largest shoe & apparel brands in the world working at Zappos.com. As the Founder of Stacy Zeal & Co., she is on a mission to amplify mission-driven brands using her signature Zeal Method that helps product brands increase their sales and amplify their impact. Join us as we chat about EVERYTHING you need to know to before you start using Facebook Ads! This isn't an episode you're going to want to miss!———⭐️ Click HERE to subscribe and get access to new podcast episodes every week

Startup of the Year Podcast
#0085 - Andrew Nguyen From BARK Chats About Product Strategy And The Product Mindset

Startup of the Year Podcast

Play Episode Listen Later Apr 21, 2022 19:00


In this episode of the Startup of the Year Podcast, we hear a conversation between Andrew Nguyen from BARK and Matt Hunckler of Powderkeg, when they talked about product strategy and the “product mindset” at our 9th Annual Startup of the Year Summit. Andrew is a customer obsessed product leader who builds and grows consumer products. He's a human centered problem solver with over a decade of experience leading digital product teams across BARK, Zappos, Capital One, and AOL (e-commerce, finance, media, and advertising). He has shipped several award winning, highly rated mobile app and web experiences for millions of happy customers. BARK was founded in 2012, and loyally serves dogs nationwide with monthly subscription services, BarkBox and Super Chewer; a curated e-commerce experience on www.BarkShop.com. We are also starting a new segment where we highlight one startup from our community during every episode. Our first company to be featured is PlaneAhead, which is the first organization of its kind that takes full advantage of the termination of airline change fees. The way it works is they track your purchased itinerary from the day you buy until take off. When the price of your ticket goes down, they automatically exchange the ticket and send you the airline credit from the change. Go to www.planeahead.co to learn more! We live streamed our Summit, so if you were not able to attend in-person, make sure to watch it on our Youtube channel at: soty.link/ESTYouTube Lastly, we invite you all to join our community today to access the support, expert advice, and resources you need to elevate your startup by going to: www.est.us/join Thank you for listening, and as always, please check out the Established website and subscribe to the newsletter at www.est.us Checkout Startup of the Year at www.startupofyear.com Subscribe to the Startup of the Year Daily Deal Flow: www.startupofyear.com/daily-dealflow Subscribe to the Startup of the Year podcast: www.podcast.startupofyear.com Subscribe to the Established YouTube Channel: soty.link/ESTYouTube *** Startup of the Year helps diverse, emerging startups, founding teams, and entrepreneurs push their company to the next level. We are a competition, a global community, and a resource. Startup of the Year is also a year-long program that searches the country for a geographically diverse set of startups from all backgrounds and pulls them together to compete for the title of Startup of the Year. The program includes a number of in-person and virtual events, including our annual South By Southwest startup pitch event and competition. All of which culminate at our annual Startup of the Year Summit, where the Startup of the Year winner is announced, along with an opportunity at a potential investment. Established is a consultancy focused on helping organizations with innovation, startup, and communication strategies. It is the power behind Startup of the Year. Created by the talent responsible for building the Tech.Co brand (acquired by an international publishing company), we are leveraging decades of experience to help our collaborators best further (or create) their brand & accomplish their most important goals. Connect with us on Twitter - @EstablishedUs and Facebook - facebook.com/established.us

Metamuse
54 // Support

Metamuse

Play Episode Listen Later Apr 14, 2022 57:47


Customer support is sometimes an afterthought for tech product companies, but it can be one of the most important parts of user experience. Mark and Adam discuss using support as a type of user interview; how to balance long-term product vision with listening to customers; and support reputations of companies like Zappos, IBM, and Comcast. Plus: the value of transparency vs why airlines conceal flight delays. @MuseAppHQ hello@museapp.com Show notes Safe mode Zappos: Deliver WOW Through Service Front Zendesk triage IBM's legendary customer service First Republic Speakeasy Comcast cares traceroute, line test credit card authorization and capture Flighty Heroku incident reponse and status page pager rotation Oren Teich ARPU, Google’s ARPU

The Tom and Curley Show
Hour 2: Have you done your taxes yet?

The Tom and Curley Show

Play Episode Listen Later Apr 5, 2022 29:43


4PM - Study: Seattle residents, Washingtonians among top procrastinators for filing taxes // Biden calls to put Putin on trial for war crimes over Russia killings in Ukraine // Grammys 2022 sees Ukrainian President Zelenskyy make a virtual appearance: 'Fill the silence with your music' // Birkenstock Wants to Keep Rival Sandals Off Shelves at Nordstrom, Zappos, Other Retailers See omnystudio.com/listener for privacy information.

Marketplace All-in-One
Everything comes back to politics

Marketplace All-in-One

Play Episode Listen Later Apr 5, 2022 14:31


The Senate approved an agreement for a new round of COVID-related funding today. The $10 billion package includes money for COVID testing and treatment as well as vaccine distribution, but without additional funds for foreign aid. We’ll see what happens when the House gets its turn to vote on the deal. There’s also a new report from the United Nations’ climate science agency suggesting that only drastic  emissions cuts will save us from some of the worst effects of climate change, and most countries lack the political will to do anything about it. Finally, we’ll end on a Make Me Smile that might count as good public relations for pop singer Rick Astley. Here’s everything we talked about today: “Democratic, GOP senators reach $10 billion COVID agreement, removes international aid” from PBS NewsHour “Senate strikes $10B Covid deal” from Politico “The IPCC says we already have the tech tools to stop climate change” from Protocol “‘Now or never’: Only severe emissions cuts will avoid climate extremes, U.N. report says” from Reuters “The world is running out of options to hit climate goals, U.N. report shows” from The Washington Post The “Electrify Everything” episode of “How We Survive” from Marketplace “Birkenstock Wants to Keep Rival Sandals Off Shelves at Nordstrom, Zappos, Other Retailers” from The Wall Street Journal “Drones create giant QR code to ‘Rickroll’ the city of Dallas” from United Press International Got a question for the hosts? Saw something interesting you want to share? Email us at makemesmart@marketplace.org or leave a message at 508-U-B-SMART(508-827-6278).

Make Me Smart with Kai and Molly
Everything comes back to politics

Make Me Smart with Kai and Molly

Play Episode Listen Later Apr 5, 2022 14:31


The Senate approved an agreement for a new round of COVID-related funding today. The $10 billion package includes money for COVID testing and treatment as well as vaccine distribution, but without additional funds for foreign aid. We’ll see what happens when the House gets its turn to vote on the deal. There’s also a new report from the United Nations’ climate science agency suggesting that only drastic  emissions cuts will save us from some of the worst effects of climate change, and most countries lack the political will to do anything about it. Finally, we’ll end on a Make Me Smile that might count as good public relations for pop singer Rick Astley. Here’s everything we talked about today: “Democratic, GOP senators reach $10 billion COVID agreement, removes international aid” from PBS NewsHour “Senate strikes $10B Covid deal” from Politico “The IPCC says we already have the tech tools to stop climate change” from Protocol “‘Now or never’: Only severe emissions cuts will avoid climate extremes, U.N. report says” from Reuters “The world is running out of options to hit climate goals, U.N. report shows” from The Washington Post The “Electrify Everything” episode of “How We Survive” from Marketplace “Birkenstock Wants to Keep Rival Sandals Off Shelves at Nordstrom, Zappos, Other Retailers” from The Wall Street Journal “Drones create giant QR code to ‘Rickroll’ the city of Dallas” from United Press International Got a question for the hosts? Saw something interesting you want to share? Email us at makemesmart@marketplace.org or leave a message at 508-U-B-SMART(508-827-6278).

Monday Morning Radio
Zappos' Tony Hsieh Aspired to Bring Happiness to the World, But Couldn't Find It Himself

Monday Morning Radio

Play Episode Listen Later Apr 4, 2022 37:35


The life and death of Tony Hsieh, the billionaire CEO of online shoe-seller Zappos, is a master class in visionary business leadership and a cautionary tale about how fame can mask profound problems. Hsieh, who sold Zappos to Amazon for $1.2 billion, died in a mysterious shed fire in late November 2020 at age 46. This week, two reporters for The Wall Street Journal — Kirsten Grind and Katherine Sayre — join host and award-winning author Dean Rotbart to share details from their newly published biography of the business legend, Happy at Any Cost: The Revolutionary Vision and Fatal Quest o Zappos CEO Tony Hsieh.  Theirs is a riveting examination of an entrepreneur who was simultaneously great and deeply flawed. Photos: Kirsten Grind (l) and Katherine Sayre, Happy at Any CostPosted: April 4, 2022Monday Morning Run Time: 37:34 Kirsten and Katherine will be signing copies of their book and invite Monday Morning Radio listeners to stop by and pick up a copy. Las Vegas: April 8, 9 a.m. to 2 p.m. at the Intuitive Forage Farmers Market, 300 N. Casino Center Blvd. San Diego: April 13, 7:30 p.m. Warwick's Bookstore, 7812 Girard Ave. La Jolla

Ecommerce Coffee Break with Claus Lauter
#086: Billy Price on Overcoming Adversity and build an Innovative Shoe Brand

Ecommerce Coffee Break with Claus Lauter

Play Episode Listen Later Mar 31, 2022 20:21


This episode features Billy Price, co-founder of BILLY Footwear, an innovative footwear company that is featured in hundreds of stores like Nordstrom and Zappos.We talk about how the adaptive BILLY Footwear brand spiraled out of a personal need.On the Show Today You'll Learn:- How he persevered after facing an unexpected tragedy.- How to become a transformative force in the $200 billion + global footwear market.- How to take the first step in getting into the market.- Why it's important to be patient when designing a product or prototyping one.- How epic failures can be an opportunity.- And moreLinks & Resourceshttps://billyfootwear.com/https://www.facebook.com/billyfootwearhttps://www.youtube.com/c/billyfootwearSubscribe & Listen Everywhere:Listen On: ​clauslauter.com | Apple Podcasts/iTunes | Spotify | Amazon Music/Audible | Stitcher | Deezer | Google PodcastPlease support the podcast by giving an honest Rating/Review for the show on iTunes!Share the podcast with your family, friends, and co-workers.Tag the podcast on Instagram @clauslauter and let me know what you like about it.If you like the content and would like to support the podcast, you can buy me a coffee here._______________

Hey It's The Luskos
Ep 80: A Conversation with Scott Harrison

Hey It's The Luskos

Play Episode Listen Later Mar 31, 2022 68:04


Sit down for a conversation with the Luskos and Scott Harrison, founder and CEO of Charity: Water. They are talking all things leadership, creativity, generosity, and the ambition to get clean drinking water to everyone on earth. Links: Order Levi's New Book: lastsupperbook.com Order Scott's Book, Thirst Connect with Levi: levilusko.com or @levilusko on social media Connect with Jennie: jennielusko.com or @jennielusko on social media Connect with Fresh Life Church: freshlife.church or @freshlife on social media Connect with Scott: charitywater.org or @scottharrison on social media Connect with Charity: Water: www.charitywater.org or @charitywater on social media Join the Spring: www.charitywater.org Delivering Happiness, Book by Tony Hsieh of Zappos

Doing CX Right‬ Podcast
32. Solving Customer Pain Points Through Research, Design and Innovation with Alex Genov

Doing CX Right‬ Podcast

Play Episode Listen Later Mar 27, 2022 31:38


Is there a difference between innovation & invention? What can a model customer-centric brand, like Zappos, teach us about achieving real success in a competitive marketplace? Doing CX Right podcast guest Alex Genov, Head of Customer Research at Zappos, provides answers to these questions and explains... ✔️The different types of innovation ✔️4 pillars that make Zappos extraordinary (you can replicate) ✔️Examples of what employees do to advance the loyal culture ✔️What it means to be “stuck in traffic” impacting innovation ✔️Ways to fix customer pain points & what NOT to do You can have a brand that people keep talking about and buying from because of exceptional customer service and experiences. Doing CX Right does not require a large budget. It's a matter of getting the basics right. Learn more at

Podium Stories with Marti Sanchez
Chris Kneeland, CEO @ Cult Collective | Episode 39 | Podium Stories

Podium Stories with Marti Sanchez

Play Episode Listen Later Mar 25, 2022 25:41


Chris Kneeland is the CEO of Cult Collective, one of North America's premier engagement marketing firms. His overriding professional passion is helping brands accelerate growth by reimagining how they engage consumers and employees. He's committed to helping courageous brand leaders embrace proven marketing principles he's discovered while working with the most iconic, “cult-like” brands on the planet. Chris held marketing roles at the world headquarters of John Deere and The Home Depot. He was also formerly the Head of Retail Marketing at RAPP, Omnicom's preeminent relationship marketing agency. He co-founded Cult in 2010, and has consulted with Harley Davidson, Canadian Tire, Mark's, Zappos, Best Buy, HEB Grocery Stores, Carter's, Keurig, United Way and dozens of other brands. Throughout his career, he has lobbied for customer advocacy over acquisition, and brand engagement over entertainment. He helps clients by getting customers to buy more by buying in. • Chris speaks regularly at conferences like SouthbySouthwest, CDX, Global Shop, Inbound, NRF, CMA, Digiday and The Gathering (which he co-founded). • He is the co-author of Fix: Break the Addictions That Are Killing Brands, and the co-founder of Communo, an agency talent management platform helping small agencies exploit the sharing economy. • He was an adjunct professor at Mt. Royal University, holds a Master's Degree in Marketing Communications from Northwestern University, and a Bachelor of Arts from Brigham Young University. ------------------------------------------------ Connect with Chris Kneeland on LinkedIn: https://www.linkedin.com/in/chris-kneeland-838b2921/ Check out Cult Collective: https://cultideas.com/ ------------------------------------------------ Marti Sanchez is a world-citizen entrepreneur who loves to write about himself in third person. Listen as I invite world-leading CEOs, business leaders, and special guests to get brutally honest about everything from current events to untold, raw stories. This unfiltered, hilarious, and surprising podcast is like Forbes but with cuss words. Twitter: https://www.twitter.com/Marti__Sanchez LinkedIn: https://www.linkedin.com/in/itsmartisanchez/

Officina Agile
Zappos Holacracy

Officina Agile

Play Episode Listen Later Mar 25, 2022 20:04


Uno use case reale, nato dalla storia di una grande azienda che ha saputo rischiare, adattarsi, sposare un concetto generale e studiarne l'adattamento all'interno delle sue dinamiche. Come un approccio bottom-up può far leva sulla gestione quotidiana di un reparto nel mezzo di una foresta di team. Vedremo cosa sia Holacracy e come Zappos è riuscita a trarne benefici

Outliers with Daniel Scrivner
Playbook: Edward Sullivan – CEO and Managing Partner of Velocity Coaching

Outliers with Daniel Scrivner

Play Episode Listen Later Mar 25, 2022 16:30


“Anyone who thinks they're perfect is actually hiding a very deep sense of insecurity.” – Edward Sullivan Velocity Coaching works with hyper-growth companies, helping founders who have found product-market fit scale their businesses 10-100x. Their clients include DoorDash, MasterClass, Airtable, Google, and Apple, and they've worked with some of the biggest names in tech, including Tony Hseih of Zappos. Edward Sullivan has coached and advised start-up founders, Fortune 500 executives, and political leaders for over 20 years. At Velocity Coaching, Edward Sullivan serves as the CEO and Managing Partner for a team of over 25 coaches located around the world. Show notes with links, quotes, and a transcript of the episode: https://www.danielscrivner.com/notes/edward-sullivan-velocity-coaching-playbook-show-notes Topics discussed with Edward Sullivan 00:01:18 – Edward's latest deep dive into surfing 00:02:26 – Superpowers and struggles  00:04:41 – Habits, routines, diet, and exercise 00:07:53 – Recommended books 00:10:02 – On failure and success Sign up here for Outlier Debrief, our weekly newsletter that highlights the latest episode, expands on important business and investing concepts, and contains the best of what we read each week. Follow Outlier Academy on Twitter: https://twitter.com/outlieracademy. If you loved this episode, please share a quick review on Apple Podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Honest Offense
85: The Life and Death of Zappos CEO Tony Hsieh - Kirsten Grind

Honest Offense

Play Episode Listen Later Mar 23, 2022 54:02


Tony Hsieh was one of the most fascinating people in an industry full of fascinating people. As the CEO of Zappos, he created a revolutionary culture that is still studied today. Outside of Zappos, Tony invested hundreds of millions of dollars into creating a unique community in Downtown Las Vegas, based on Tony's vision for world peace. Tony also had severe internal demons; despite attempts from friends like singer Jewel to help Tony, his alcohol and drug abuse fueled a years-long downward spiral that ultimately led to his death at 46 years old. Kirsten Grind is an enterprise reporter for The Wall Street Journal. She has received more than a dozen national awards for her work, including a Pulitzer Prize finalist citation. She is the coauthor of the new book, "Happy at Any Cost: The Revolutionary Vision and Fatal Quest of Zappos CEO Tony Hsieh." Get "Happy at Any Cost": https://www.amazon.com/Happy-Any-Cost-Revolutionary-Vision/dp/1982186984/ Kirsten Grind on Twitter: https://twitter.com/KirstenGrind Kirsten Grind on Instagram: https://www.instagram.com/kirsten.grind –––– Support the podcast and join the Honest Offense community at https://honestoffense.locals.com​​​​​​ Eric Cervone on Twitter: https://twitter.com/ericcervone Eric Cervone on Instagram: https://www.instagram.com/ericcervone https://www.ericcervone.com/

GeekWire
Tony Hsieh, Zappos, and Amazon

GeekWire

Play Episode Listen Later Mar 19, 2022 31:51


Tony Hsieh was a legendary entrepreneur who built Zappos and sold the online shoe retailer to Amazon for $1.2 billion in 2009. He was known for unusual experiments in management and business structure, and for pursuing long-term passions over short-term profits, as described in his 2010 book, Delivering Happiness. A new book, Happy at Any Cost: The Revolutionary Vision and Fatal Quest of Zappos CEO Tony Hsieh, tells the rest of the story of Hsieh's life, leading up to his tragic death from injuries sustained in a fire in New London, Conn., in November 2020. The book also goes behind-the-scenes of the company's relationship with Amazon. Wall Street Journal reporter Kirsten Grind, who wrote the book with her colleague Katherine Sayre, joins me on the GeekWire Podcast to talk about what they discovered in writing the book, and what we can learn from Hsieh's life. Kirsten Grind was previously based in the Seattle area as a reporter for the Puget Sound Business Journal. Her reporting on the collapse of Washington Mutual formed the basis for her first book, The Lost Bank. Resources: National Suicide Prevention Lifeline: 1-800-273-8255; Crisis Text Line: 741741 Happy at Any Cost: The Revolutionary Vision and Fatal Quest of Zappos CEO Tony Hsieh, by Kirsten Grind and Katherine Sayre, is published by Simon and Schuster, and available wherever books are sold. Podcast edited by Curt Milton; Theme music by Daniel L.K. Caldwell. See omnystudio.com/listener for privacy information.

Outliers with Daniel Scrivner
Spotlight: Velocity Coaching – Helping Hyper-Growth Founders Scale with Edward Sullivan

Outliers with Daniel Scrivner

Play Episode Listen Later Mar 16, 2022 57:24


“The reason compassion is so important is that we are all human beings—we are all emotional, alive human beings who need psychological safety. We need to feel belonging, we need to feel trust, we need to feel trusted. We need to believe that people think we're competent.” – Edward Sullivan Velocity Coaching works with hyper-growth companies, helping founders who have found product-market fit scale their businesses 10-100x. Their clients include DoorDash, MasterClass, Airtable, Google, and Apple, and they've worked with some of the biggest names in tech, including Tony Hseih of Zappos. Edward Sullivan has coached and advised start-up founders, Fortune 500 executives, and political leaders for over 20 years. At Velocity Coaching, Edward Sullivan serves as the CEO and Managing Partner for a team of over 25 coaches located around the world. Show notes with links, quotes, and a transcript of the episode: https://www.danielscrivner.com/notes/velocity-coaching-helping-hyper-growth-founders-scale-edward-sullivan-spotlight-show-notes Topics discussed with Edward Sullivan 00:02:37 – Background on Velocity Coaching 00:06:17 – Velocity's philosophy when working with clients 00:19:04 – The current state of executive coaching, and how leadership coaching differs from life coaching 00:25:02 – The coaching journey 00:27:43 – Focusing on compassion 00:30:59 – Constructive vs. deconstructive conflict 00:39:12 – Common themes in coaching 00:45:29 – Work self and home self are one 00:51:31 – Leading with heart Sign up here for Outlier Debrief, our weekly newsletter that highlights the latest episode, expands on important business and investing concepts, and contains the best of what we read each week. Follow Outlier Academy on Twitter: https://twitter.com/outlieracademy. If you loved this episode, please share a quick review on Apple Podcasts. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Teamwork Advantage with Gregg Gregory
Joseph Michelli, PhD - Moving from Customer Service to a Customer Experience

The Teamwork Advantage with Gregg Gregory

Play Episode Listen Later Mar 14, 2022 46:04


Highly sought after by Fortune 500 companies, Dr. Joseph Michelli has written books on some of the best service providers including Pikes Place Fish Market, Starbucks, Zappos, The Ritz Carlton, and Airbnb.Today, Customer Experience goes well beyond simply providing service. In this energetic and informative episode, Joseph talks about how the service model has changed the customer's experience. He talks about how the service model has been turned upside-down during the pandemic.Strap yourself in as Gregg and Joseph discuss the ideas of building and leading a dynamic service team!

Recode Media with Peter Kafka
Big Tech takes a side, finally + Zappos' tragic founder

Recode Media with Peter Kafka

Play Episode Listen Later Mar 10, 2022 43:16


Silicon Valley goes out of its way not to upset countries around the world - even when that means making embarrassing compromises. But it has taken a stand against Russia in its invasion of Ukraine, limiting services or cutting them off entirely. What happens next? Recode's Peter Kafka and the New York Times' Shira Ovide both wrote about this separately, and now they're talking about it together. Then, Wall Street Journal reporter Kirsten Grind talks about her new book, Happy at Any Cost: The Revolutionary Vision and Fatal Quest of Zappos CEO Tony Hsieh. Plus Kirsten reflects on her blockbuster reporting about the toxic culture at Activision. Featuring: Kirsten Grind (@kirstengrind), Investigative Reporter for Wall Street Journal and Author Shira Ovide (@ShiraOvide), writer of the On Tech newsletter for the New York Times Host: Peter Kafka (@pkafka), Senior Editor at Recode More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape. About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Wealth On Any Income
Episode 79: The Art of SEO with Stephan Spencer

Wealth On Any Income

Play Episode Listen Later Feb 28, 2022 21:06


For Episode 79 of the Wealth On Any Income Podcast, Rennie is joined by Stephan Spencer. Stephan is an SEO expert, founder of the agency Netconcepts, and bestselling author. He has three books published by O'Reilly: The Art of SEO, Social eCommerce, & Google Power Search. Stephan has optimized the websites of some of the biggest brands in the world, including Chanel, Volvo, Sony, and Zappos. He hosts the podcasts Get Yourself Optimized and Marketing Speak. Let me say it this way, when I say he wrote the book on SEO, I mean he wrote the book that folks like Jay Abraham rely on.In this episode Rennie and Stephan cover:01:52 Stephan's journey to creating the manual for SEO – ‘The Art of SEO'03:12 How his SEO work helps others have a greater impact.04:21 One of Stephan's favorite charities the Impact Network (https://www.impactnetwork.org/) and how he supports them.06:54 Stephan tells a vulnerable story about how his target market has changed.09:06 His biggest “failure” and what he learned from that.12:51 Some of the most common mistakes Stephan's sees relating to SEO.15:38 Stephan's advice about what to do when you get that solicitation stating that a company can get you to rank #1 on google.17:11 The SEO BS Detector and how to get it.18:13 How to get Stephan's SEO Hiring blueprint to help you hire a good, qualified SEO expert.18:53 The self-help book that Stephan is currently working on – Living in a Friendly Universe.Get The SEO BS Detector and the SEO Hiring Blueprint at https://www.stephanspencer.com/resources/#GUIDESMore About StephanStephan Spencer is an internationally recognized SEO expert, internet entrepreneur, consultant, and professional speaker. He has keynoted and spoken at hundreds of conferences including American Marketing Association (AMA), Shop.org, Internet Retailer, IRCE, and PubCon. He contributes to a number of marketing journals and blogs, including Search Engine Land, CNET, and more. He currently hosts the Marketing Speak and Get Yourself Optimized podcasts, both of which have appeared in the iTunes New and Noteworthy. To learn more visit https://www.stephanspencer.comIf you'd like to know how books, movies, and society programs you to be poor, and what the cure is visit wealthonanyincome.com/tedx. You'll hear Rennie's TEDx talk and can request a free 27-page Roadmap to Complete Financial Choice® and receive a weekly email with tips, techniques, or inspiration around your business or money. Rennie's Books and Programshttps://wealthonanyincome.com/books/Rennie's 9 Days to Financial Freedom program:https://wealthonanyincome.com/programsConnect with Rennie Websites:WealthOnAnyIncome.comRennieGabriel.comEmail: Rennie@WealthOnAnyIncome.comLinkedIn: https://www.linkedin.com/in/renniegabriel/Facebook: https://www.facebook.com/WealthOnAnyIncome/Twitter: https://twitter.com/RennieGabrielYouTube: https://www.youtube.com/channel/UCdIkYMOuvzHQqVXe4e_L8PgInstagram: https://www.instagram.com/wealthonanyincome/

Giant Robots Smashing Into Other Giant Robots
411: Civic Innovation with Jay Nath

Giant Robots Smashing Into Other Giant Robots

Play Episode Listen Later Feb 17, 2022 34:56


Jay Nath is the Co-CEO of City Innovate, a govtech company streamlining procurement through enterprise software and innovative frameworks. He talks with Chad about how he focuses on helping governments be more effective, responsive, and zeroed in on helping their constituents whether on a small city or a big state scale. City Innovate (https://www.cityinnovate.com/) Follow City Innovate on Twitter (https://twitter.com/CityInnovate) or LinkedIn (https://www.linkedin.com/company/city-innovate/) Follow Jay on Twitter (https://twitter.com/jay_nath) or LinkedIn (https://www.linkedin.com/in/jaynath/). Follow thoughtbot on Twitter (https://twitter.com/thoughtbot) or LinkedIn (https://www.linkedin.com/company/150727/). Become a Sponsor (https://thoughtbot.com/sponsorship) of Giant Robots! Transcript: CHAD: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Chad Pytel, and with me today is Jay Nath, Co-CEO of City Innovate and former Chief Innovation Officer of San Francisco. Jay, thanks for joining me. JAY: Yeah, Chad, thank you for having me. CHAD: I assume based on the name and the fact that I've done my research...but I assume based on the name of City Innovate and the fact that you're a former Chief Innovation Officer of San Francisco that what City Innovate might be. But why don't you give everybody an overview of what it is? JAY: Thank you, Chad. So City Innovate is focused on helping governments be more effective, responsive, and focused on helping their constituents, whether it's a small city government or a big state. And the way that we've been doing this is really sort of an interesting; I'd say wonky place. We found that there's a pressure point in government around documents and specifically on procurement. And why is that interesting? Because what I've seen is if you want to work with government and collaborate, whether it's even volunteering or you're a startup, and you want to work, procurement is often that channel. And it's not really a channel; it's more of a barrier, a byzantine process. You can think of this from a technical frame, creating an API, a read/write API to make that process much more streamlined on both sides, helping governments be able to find the best partners to solve their big challenges. And on the other side, folks from all walks of life, whether you're a massive company or you're a founder in a garage, how do you actually connect those two? So we're really working at that intersection, and it's something that I find a lot of value in and importance in. And surprisingly and maybe not surprisingly, there's a lot of need for technology to help connect those dots. And ultimately, I think what I can do is make that process more inclusive and lower the barriers of entry so that people from different communities can participate and help make their communities better. CHAD: So your clients at City Innovate are cities and governmental organizations. Are you just delivering a product to them, or are you often helping them work better too? JAY: It's a bit of both. From a product standpoint, we're really in the B2B space and very much enterprise, if you will. And part of that standard enterprise SaaS offering is also support services, and that can be training, that can be professional services to help them in thought leadership in different ways. And that's exactly what we do. So we not only have our product, but we help them through something called agile procurement. So it's really borrowing from the software development methodology and applying the same principles and approaches to developing and finding the right partner and being more agile and iterative through that process. And historically, it's been very waterfall and very stilted and overly structured. So really being more focused on outcomes, really being focused on getting data into the process so that you can actually do, let's say, a bake-off and get more information before we make that decision. And it's surprising, Chad, folks in government are often buying multimillion dollars, tens of millions of dollars technology systems without actually trying it out. And think about your personal life. You test drive a car. You look through a home. You make these big decisions with a lot of data and evidence. And in government historically, they've been using paper documents to make that decision, RFPs responses, and marketing material. And it's hard to sift through and say, "Hey, what's real and what's not?" So we've been really helping them think through a more agile evidence-based approach, and our software supports that. And so yeah, it's really leading a movement about changing how they think about partnering with the vendor community or contractors. CHAD: So one of the things that is probably interesting about this and maybe a little bit meta is that this is what you help them do. And so you have to go through that process with them of being procured. [laughs] JAY: It is meta. You're absolutely right. [laughs] CHAD: In order to become the vendor that they use. JAY: That's right. CHAD: What are the challenges inherent in that, and does it ever get in the way? And how do people, either your clients, come to you, or how do you find them? And how do you work through that challenging process of government procurement? JAY: Well, the thing is, since we know this space really well, we know how to navigate those different channels, the byzantine processes I mentioned before. I think one of the things I worked on when I was in the City of San Francisco was a program that brought startups and governments together, and we had an educational component. We'd help founders better understand that exact question. How do you actually get contracts with government? And there are no books that are out there. There's no real knowledge out there. And so, we help them talk about the ten different pathways to doing that. So it's a bit of a hidden art, if you will. And I think there needs to be more conversation and more resources for founders if they're looking to go into the public sector to be able to navigate that. So we know that really well. And we're trying to really help broaden access to that knowledge. CHAD: I assume that the clients you end up getting are people who are...or are governments who want to be better. Otherwise, they wouldn't choose your solution. [laughs] JAY: That's right. Well, I think their motivations are multifold. Some of the governments want a process that's more efficient. They know that they can be more productive. They have maybe staffing constraints, and they have a lot of work, so we can help them on the productivity side. There are other governments that are really focused on hey; we need to get better partners out there. We've been working with the same folks over and over again. How do we work with those innovators in our community? So there's that crowd. And then there's, I think, another group of folks who are saying, "Hey, we wanted to make sure that this process is more inclusive. We want to work with folks who are from different backgrounds who may be underrepresented. How do we make this process more streamlined, more efficient so that they're able to participate more effectively?" So I think the motivations can be different, but it's really at the end of the day centered around this idea of digital transformation and service design that allows these two different worlds to be able to communicate and work together more effectively. CHAD: How long is the typical sales cycle for a client? JAY: Man, yeah, [laughs] it can range from weeks, I would say to months and going over 12 months. It can be 12 to 18 months, trying to get in, doing a trial maybe, giving them that certainty, and then securing budget and that annual process of waiting for that budget approval to happen. So it is not for the faint of heart, especially enterprise software within government is really something that requires a lot of different approaches. So partnerships with bigger companies that have the distribution channel, that might have those relationships, that might have those contracts, how do you actually work with them to shortcut the long procurement process? How do you leverage folks like AWS and other cloud providers that may already have a relationship so that you can, again, piggyback off of that? So I think there are a number of different ways to try to compress that timeframe. But it's not a walk in the park, Chad. CHAD: So, in that environment, how did you get started with City Innovate? How long was it until you were able to get your first real customer? And how did you bridge the gap between founding and being in the market? JAY: That's a great question. So being in the public sector, I knew that procurement is a huge challenge and also a pressure point and a leverage point to unlocking a lot of value. And so the work that we had done with startups and government the first experience that we had was amazing. We had a startup that came in and helped blind people navigate through the airport here in San Francisco SFO in four months and truly a collaboration with the startup and the airport staff. And unfortunately, when it came to procurement, it took two years for them to actually get into contract. CHAD: Wow. JAY: For a startup, that's like dog years. That's like an eternity. And so we really knew that we had to tackle that. So we introduced a methodology called challenge-based procurement that, as I spoke to earlier, is more agile, evidence-based, and outcomes-based. And that really leveled the playing field for these young companies to show that hey, we can actually go in here and help you solve that problem. You don't have to work with a big publicly-traded company to do this work and spend a lot of money. We can be more nimble and agile. And so that's really where I started to dig in deeper into procurement. And that work got federally funded because it created a lot of jobs. And we've had hundreds of startups all across the U.S. It's an international program called STIR, Startup In Residence, and really proud of that work. Our mayor, unfortunately, died unexpectedly. So we looked at hey, where do we move this program? And it did make sense for a city to manage a multi-city program, and so City Innovate came to mind. At the time, they were a non-profit. I'd been working with my co-CEO co-executive director at the time. It was a nice, beautiful transition into that. And at that time, I said for myself personally, where do I see impact, and what can I do? And for me, the idea of entrepreneurship, the idea of products making impact in government, I saw how much impact was being made. And so City Innovate has really become that vehicle for myself and the organization to really scale that idea out. CHAD: You mentioned you have a co-CEO. How did that come about? And how do you split the responsibilities between the two of you? JAY: Well, the good thing is we're really great complements. So his focus is really on go-to-market and focusing on how do we get this in the hands of our customers or prospective customers? And I've always been very interested on the product side. I was formerly a VP of product at a startup before my time in government, and so that scenario I find keen interest. And I deeply understand the personas and the use cases of government, having spent a lot of time there. And so that empathy and understanding and building a product around that and having somebody who can help get that product in the hands of government navigating through those difficult processes. It really does take that. You can have a great product, but without that ability to get it in the hands of your customers, especially with governments, it's really challenging. CHAD: Is there any in particular...like, why Co-CEO and not two other C-level roles, one of you CEO, one of you CIO? JAY: I don't think we've spent too much time debating that. And that might change, I think to your point to better describe our focus areas. Maybe my role changes to chief product officer and his to a different role title. I think if you're starting a company, you've got a lot of things to worry about. And it just seemed like a...yeah, I don't think there was much thought in it. CHAD: Yeah. That's interesting, though. You alluded to what you were doing before the City of San Francisco. Well, let's dive into that a little bit more. And specifically, what were you doing, and then why did you join the public sector? JAY: So I was VP of Product at a company called SquareTrade. It was a wonderful journey. We were working with, again, something kind of wonky and a space that was anti-consumer. It was around warranties, specifically electronic warranties. And we were in the eBay marketplace and expanded way beyond that in later years. But when I was there, we really took a contrarian perspective and being inspired by Zappos and many companies that are really focused on the consumer. We changed that value proposition to say, hey, can we build a product that people love, a warranty that actually works? And so we did crazy things like we would actually give you the money before you returned the product. We would have the shipping label. And we wouldn't ask any questions. We did amazing things. But that wasn't just because we were focused on the user experience. We also had data to back it up. We knew that, hey, there are a certain percentage of people who are going to return rocks. And there's a certain percentage of people who are going to do certain things. So we had a lot of information going in. The other thing we knew is that we could own the whole stack, the underwriting, the retailing. And we also knew the business. So that was a great experience. But I really was missing this connection to the public good and doing something that was having impact in a really tangible way. That's when I saw why don't I work for a city I love deeply and care about? And that really drove me into thinking about public service. I had some friends who were in it, and they convinced me that I should take a look at that. And I definitely have found the work that I had been doing in public service to be extremely rewarding and just a unique opportunity. Especially if you're a technologist or a product mindset or an engineering mindset, that is such a rare perspective in government, and being able to bring that in, you can do amazing things. We all know the healthcare.gov and how that was imploding and exploding. It almost brought down a presidency and administration, and it was saved. I think many people know the story, especially in your audience. That was really folks in Silicon Valley saying, "Hey, I'm going to raise my hand and volunteer my time. I might be working at a big company and making a lot of money, but I will take my time out and try to help." And they did. They turned it around. And I think that ethos and that mindset of giving back is something that's animated my interests in public sector and the fact that there's so much need, especially from the tech community, in helping the government out. CHAD: Now, you didn't get started as the City Innovation Officer. [chuckles] So you got started as the Manager of Enterprise CRM for the City of San Francisco. JAY: That's right. Yeah, it was interesting. Yeah, definitely. CHAD: I think that public sector work is maybe a little bit of a black box for people. I know it is for me. You mentioned you knew some people, but I assume that was not a political appointment job. JAY: It was not. CHAD: So, how does one get into that, find it, and get that job and that kind of thing? JAY: I think I took a very rare and uncommon path. So as you noted, I came in helping stand up a call center. So a 311 one call center which is, for the folks who don't know, 311 is for non-emergencies, potholes, et cetera, starting a business, how do I do that? So yeah, set up a CRM system 24/7. It was a great experience and actually much harder than I thought. I was working harder there than I had at the startup, so breaking some stereotypes or at least some ideas that I had in my mind. But I quickly found myself saturating that opportunity and saying, hey, what do I want to do? And this was at the time that Obama had just come into office, and he had a call to action. His first memo in office was around openness and collaboration and that I felt was really compelling to me. I had the opportunity to say, "Hey, let me reach out to folks in White House. I don't have any relationships there, but I have this badge of San Francisco." And that started me on a journey of innovation, civic innovation. And I did some really interesting things with great startups like Twitter at the time. We created a read/write API, the first of its kind in local government. Almost got fired by the [inaudible 16:45] [laughter] and trying to explain just like, why are you opening a channel into government to let people do horrible things? And so it was an interesting conversation. But Gavin Newsom was the mayor at the time then, so you can see it's going back in time. CHAD: [laughs] JAY: But my journey then sort of said, hey, let's continue building data standards and doing good work. And I was recognized by the mayoral campaigns that were running. And so they wanted to sort of say, "Hey, we need somebody in innovation in the mayor's office." So I got recruited into that role, the first of its kind in San Francisco and in the U.S. So it was just a great opportunity to really help define and set a foundation for what does civic innovation mean? What does that look like? And we had a small office, and we did some really interesting work at the nexus of collaboration. That's really what I think is what we tried to do is make government more permeable, more accessible for people who are driving innovation in their communities to be able to participate in government. Mid-roll Ad I wanted to tell you all about something I've been working on quietly for the past year or so, and that's AgencyU. AgencyU is a membership-based program where I work one-on-one with a small group of agency founders and leaders toward their business goals. We do one-on-one coaching sessions and also monthly group meetings. We start with goal setting, advice, and problem-solving based on my experiences over the last 18 years of running thoughtbot. As we progress as a group, we all get to know each other more. And many of the AgencyU members are now working on client projects together and even referring work to each other. Whether you're struggling to grow an agency, taking it to the next level and having growing pains, or a solo founder who just needs someone to talk to, in my 18 years of leading and growing thoughtbot, I've seen and learned from a lot of different situations, and I'd be happy to work with you. Learn more and sign up today at thoughtbot.com/agencyu. That's A-G-E-N-C-Y, the letter U. CHAD: If someone's interested, how might they get involved in contributing to the public sector? JAY: I think there's a couple of different ways. So one way, Chad, is that governments are often putting a lot of data out there. There has been an open data movement that we had led, and it's now a national global movement. So you can find data, and you can create a data product around that and giving more insight into visibility and into issues. You can volunteer with a specific department. They're looking for those skill sets, so you can do that. You can also look for digital services offices. So those are becoming much more commonplace in governments if that's your thing. There are definitely ways to raise your hand and try to contribute. Folks are always looking for it. And if you don't see that opportunity, make that opportunity happen. Reach out to your council member. Reach out to a department head and say, "Hey, I've got this great superpower. I want to help you do better." And I guarantee they will listen because they're often strapped for resources. CHAD: How do you know when you should pursue a more general product that might be useful to governments versus like, oh, if I could get in there and contribute? How do you make that distinction in your mind? JAY: Well, I don't think there needs to be. So you can come in and have maybe a frame of hey, let me help my local government. And you might find opportunities while you're working there. They're using Microsoft Word and Excel to do something that really should be productized so you can think about it from that frame. Or you might have built a product for an adjacent market or for another need and say, "Hey, is there an opportunity to actually reframe this product that I have in the government context?" It might be a content management system. It might be a lot of different products can be reframed in that context. So the way that we actually became a product company from a non-profit was just doing that. We got invited to bring our methodology of agile procurement. And so we had in the back of our mind this idea that I bet if we go there, it's going to be kind of dusty. There's going to be a lot of broken tools, and that was the case. They were using 40-year old technology to manage sometimes billions of dollars of purchasing. And so we saw something that you normally wouldn't have that vantage point by really collaborating and working with them. And that led to product ideas, and that we were able to co-design and co-develop that with our partner governments. And then something that I think is also unique is that they're often eager to work with you because they don't get that opportunity often to work with vendors and folks who can conjure magic in their minds, that they have a vision or idea. And you can come back in a week or a month, and you might have a working product, not just wireframes. And for them, that ability to move so quickly they haven't seen that before. And I saw that firsthand in bringing startups and governments together, the velocity and speed that startups can work with is so different. We all know that. But when they see that, they get excited. They want to work with them. They want to lean into it and figure out, hey, can I give you data? Can I give you other ways to better understand the space? Because no one's cared about this space before. So there's often a willingness to grab a hold of anyone who can actually help them solve their problems. But you have to listen, and you have to come in humble. And I'll share a story here. I created a program called Civic Bridge that brought in pro bono services from big companies like Google and McKinsey, and many others. And some folks from Google came in, and they were sharing how they have to serve everybody. Their product is really ubiquitous and has to serve everybody. They quickly got reminded that government has to serve everybody, people who don't have technology, people who aren't online, people who don't have English as their first language, and people with different disabilities. All of them are constituents. And so technology is one way to reach people. But you have to think broadly about how do you make that service or what you're offering accessible to everybody? And I think that was a humbling experience for the folks there at the table. But what I loved about that program is really this cross-pollination and also breaking down stereotypes in both directions that people sometimes have in the public sector of private sector folks because they often don't hop back and forth. If you're a public sector person, you're often in the public sector. And so being able to actually see that they're not just a bunch of capitalists, [laughs] that they're your neighbor, that these are people who do care about the community, and they're making an impact in a different way. And vice versa, that there are so many talented people in government. And the problems seem simple or seem simple to solve on the outside, but they're often wicked problems or just have a lot of complexity to try to solve. So it's great to be able to have that empathy on both sides. CHAD: Yeah, that's maybe one thing. Are there other things that you would point out that are different when creating and shaping products for the public sector versus the private products? JAY: Yeah, I think that idea of being inclusive is really important. The other one is around...and this is, I think, true even in the private sector but more so in the public sector because of the demographics that you're working with. The demographics are folks who are closer to retirement. They are not digital natives. So when you're building products, you really need to leverage mental models and use that as a way to bring them into a new experience or a new tool. And as an example, there are obviously a lot of government forms that you see, right? CHAD: Mm-hmm. JAY: And I think as a technologist or a product person, you might say, hey, let's move away from Microsoft Word or Adobe PDF or whatever you're using. We have this thing called HTML, and we can bring this online and have all these beautiful affordances. Well, that's really hard for those folks to wrap their heads around and move from something they may have been using for 20, 30 years. And so maybe that first step is not that; maybe it's online fillable PDFs that you can actually store the data in a database and shift that back. And maybe that allows them to actually move more quickly because there's less resistance both internally and for the public as well. And so we've seen that time and time again, is that hey, is there a way to make that shift into a new paradigm but do it in such a way that there's a clear connection point? And then maybe the next step after that is, yeah, we need to make sure this is mobile-ready. Let's actually make that into a responsive design and move away from that PDF. And that's something that we've learned in our own product that, hey, we need to understand deeply the products and tools that they're using today. And how do we draw those parallels and bring them into the current modern set of technologies that we're offering? So it's not always easy, but it's something that we found a lot of success leveraging those mental models. CHAD: Are there other things that you might call out as things you got to keep in mind? JAY: Well, security is often, you know, we see that everywhere with SolarWinds, et cetera. I think there's just a deeper concern of supply chain attacks, ransomware, et cetera. So you're seeing, I think across the board in enterprise as well but in government even more so really focusing on that. And I think the challenge for folks who are building products is how do you find that balance when you have to make sure that you're NIST-certified and all of the SOC 2, et cetera? How do you build a great product that is accessible that doesn't make you go through a bunch of hoops to try to get access to it? And it's not easy. So that adds a layer of complexity trying to build that out. And, Chad, I'm sure you've worked with a lot of folks who have thought about government or may have had some success with it. So it might be interesting to hear from you if there are certain patterns or product sensibilities that you've seen that have been successfully applied in the public sector realm. CHAD: Well, I think you're right about that inherent complexity or that the bar is pretty high in order to have a product which is accessible and secure. If you're building a product for consumers, you can do some of that stuff iteratively. It can be difficult to work in an agile, iterative way in a highly regulated space. And so there's maybe not even one set way that you do that. It might be different for the space that you operate in. But it is important to take a step back and say, what can we do iteratively, or what can we leave off right now because we have to do this other thing? And those will be different for every product. And I see the real mistake being not taking that step back and not really being thoughtful about how you're going to do that in the complex, highly regulated space. And this is true for healthcare and finance as well. There are certain things you've got to do. And really, you have to approach it pretty thoughtfully in order to make sure you can still work and not just default to doing everything agile. We have this concept of like the 80-20 rule, and that is sometimes really difficult to do in the public space, right? JAY: I think you're absolutely right. And I think people recognize that highly regulated markets or industries are tough to crack. And I think you're absolutely right, Chad, that you have to find that entry point where maybe you can come in and the regulations are lower for that problem that you're solving initially. And use that as a place to land and then better understand where you fit into the overall workflow. And you're able to go upstream and downstream from there. And that's a lot of what we've seen success with these young startups, and the work we're doing will come in where there's maybe not so much regulations and provide value there, build trust, and then look at the broader ecosystem or processes to say, "Hey, where can we add more value?" Yes, it might be highly regulated. But we now have a better understanding, more resources, and customers to help us educate climbing that mountain together. But yeah, I want to make sure that...the flip side of all this...so if I were listening, I'd say, "Well, it sounds like the public sector is really tough," [laughter] and it is, but it's also truly rewarding. I think being able to know that you're able to help at the scale that the government does its work is really, really rewarding. One of the founders that we helped get her first product was to help foster kids, and that foster process that we've probably all heard is really, really tough. And they brought that online, and they went from one city...they're in so many different states now serving so many people across the U.S., and they're doing really well. They're, I think, Series B or C. And it's amazing. But it took that one government to take a chance and to be able to bring all this value. So that's something that excites me is the level of impact is so significant. CHAD: On that note, you started the conversation saying that procurement was the area where you felt like you could have an impact. Do you see expanding beyond that in the future, or is that not on your roadmap? JAY: I think we have a lot to chew on. But like a lot of product folks, we've got ideas that are further out. What I'm seeing in the government space when we talk about digital transformation...in the government context, you're often talking about PDFs and Microsoft Word documents, et cetera. So I think for us, we're really excited about is there a new way to think about documents in a way that works for governments? They're used to Microsoft Word. But is there more that can be done there to create more affordances, to create more powers that they just don't have today? And they're using Post-it Notes or whatever it might be to try to address those shortcomings. CHAD: Everything is going to be marked down in GitHub eventually. [laughter] JAY: Yes, we do need to introduce Markdown or just plain text, maybe. Why are these contracts locked up in Microsoft Word? Yeah, that's something that's a pet peeve of mine as well. I spend a lot of time in open data. And let's not use proprietary formats. Let's use something that folks understand. But the world is changing, which is great. We're seeing more governments using JSON. And one of the things that I'll share is that when you're building a product for government, you do have to think about the data component because that data doesn't belong to you; you're really stewards. That data belongs to the government and its constituents. So that's a different way of thinking because often, private companies are trying to monetize the data that they're having. So you have to have a much more sort of a frame that you're a custodian. CHAD: I think that's one of the things that can get a little lost, whether it be bureaucracy or politics or whatever but this idea that there is a community here. It is the community in which you live. You said that what inspired you to get involved was wanting to contribute back to a city that you love. It's easy for that to get lost in everything. JAY: Yeah. And that's my call to action to your audiences. Sort of touching upon our earlier points in our conversation, find a way if you have that means, and ability, and interest to make your community better. It might be something just for your city, or it might be something bigger. And I've seen so many people have good ideas. But to your point, how do you actually convert that good idea into something that's valuable and used by the community? And hopefully, this conversation is helping people and inspiring them to raise their hands and knock on the door. I think you'll see folks on the other side giving you a warm reception. They're very hungry and eager for people who have the capabilities of product and engineering and that type of talent to come to the table and help them. CHAD: That's great. If folks want to get in touch with you or find out more about City Innovate or STIR, too, where are the places where they can do that? JAY: They can go to our website cityinnovate.com. They can also go...I've got my own personal website, jaynath.com. And I'm very open. I have been since my days in public service. I'm still very accessible, maybe not as responsive as I used to be, just with all that work of being a founder. But if you're interested in this space, I always want to give back because we need great people with great talent working in the public sector, whether it's for government or within government or building a product for government. CHAD: Awesome. Jay, thanks very much for stopping by and sharing with us. JAY: Thank you so much, Chad, for the opportunity to share the work that we're doing. CHAD: You can subscribe to the show and find notes and a transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter @cpytel. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening and see you next time ANNOUNCER: This podcast was brought to you by thoughtbot. thoughtbot is your expert design and development partner. Let's make your product and team a success. Special Guest: Jay Nath.

Money is Not Evil Podcast
Michael Moritz, Partner, Sequoia Capital

Money is Not Evil Podcast

Play Episode Listen Later Feb 9, 2022 42:32


“You can talk in a grand fashion about a 20-year plan, but you also have to work on what ‘this afternoon' brings. Having a sense of where your compass is set, and then breaking it down into little steps – knowing they will change over time, but not losing sight – that's what you need to build an organization.” Michael Moritz, partner at Sequoia Capital, visited campus for View From The Top and shared what he learned as a journalist covering Silicon Valley in the 1980's and later as an investor within it. During Moritz's 33 years in venture capital, Sequoia Capital has provided early funding to tech companies now considered giants (LinkedIn, KAYAK, Google, and Zappos among them). Moritz also advised students on what he looks for in early companies. “To me, the best investments are always those that don't fit into a convenient bucket,” he said. “What isn't obvious becomes something really interesting. Look out for the unexpected.”

Your Fitness Money Coach Podcast
101. Why I Turned Down 20K

Your Fitness Money Coach Podcast

Play Episode Listen Later Feb 8, 2022 16:43


I had an interesting experience in my business recently I wanted to share with you. You'll have to listen to the show to hear what happened but why would anyone turn down 20K!?! The reason I shared the story is to illustrate the importance of something Jim Collins calls the Hedgehog Concept. In the podcast, I give a brief overview of it with my own twist. In an effort to keep the episode short, I didn't go into great detail about the components of the Hedgehog Concept or discuss how to find them. While I believe the episode will be helpful in and of itself, I wanted to use this space as a guide to apply the concepts, with a special emphasis on the financial side. OK let's go. One of the circles is gaining an understanding of what you can be the best in the world at. You see, you can get really competent at something but still not have the potential to be great at it. Conversely, you can lack the skills in an area but have the potential to be great. You just haven't put the time in yet. I've been doing BJJ for many years. I've seen people put in tremendous amounts of effort and become very good but not great while I've seen others progress so well that is seems like they were born for it. With all of this said, even the best of the best need to practice extremely hard to reach the highest level. Determining what you can (or can't) be the best at will not happen overnight but once you discover it, they'll be no stopping you. The second circle is what you are deeply passionate about. It's pretty self-explanatory. If you aren't deeply passionate about what you do, you won't persevere when times are tough. It doesn't matter if anyone else is passionate about it. If you are, that's all that matters. I'm deeply passionate about personal finance and helping people improve their situation. It's a dream job for me. One thing I'll mention is you don't necessarily have to be passionate about the mechanics of the business but you might be passionate about what the business stands for. Zappos, for example is passionate about creating a WOW experience and it isn't so much about what they sell. For Starbucks, it's not really about the coffee. You might not even be passionate about the training side of things but find what you are! The final circle and the most important one for our purpose is what drives your economic engine? The Good to Great companies developed an obsession with one economic driver and it wasn't always the obvious one. The idea is to pick one ratio – profit per X, focus on it, and improve it over time. If you do that, you'll be in great shape. Oftentimes, it's simple but we get distracted and don't stay focused on that one ratio. Many businesses focus so much on getting new customers that they forget the ones they have. Sure, marketing for new people is important but it's more profitable and efficient to keep a customer than to lose one and have to find another. The lifetime value (LTV) of each customer or the revenue per member (RPM) are numbers that if you focus on increasing through delivering more value are guaranteed to improve your business and life. So how do you arrive at the answers to these three circles? If you want good answers, you have to ask good questions. The best leaders are constantly asking questions, guided by the 3 circles, to themselves and trusted team members and customers. This iterative process will move you closer and closer to a business that makes the greatest impact and provides the most profit! Can't wait to hear what you think! Here are some important links. Fitness Profits Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form. Listen/Subscribe to the show here: My podcast page Your Fitness Money Coach Itunes Stitcher Spotify IHeart Google You can also search for the Your Fitness Money Coach podcast on major podcast apps.  

Oddly Incorrect
96: Honkening, Reality, Matrix & Protests Need a Message

Oddly Incorrect

Play Episode Listen Later Feb 1, 2022 60:59


Hierarchy is natural / Have we tried to eliminate it? Have we tried to reduce it? / Holocracy and Zappos? Leaders carry consequences / Used and Discarded Directed Realism / Are we in a simulation on the eve of the singularity? Larry Fink as the Architect Why do the evildoers feel like they have to tell us what they are doing? Is the Matrix reality? Eyes Wide Shut = Kubrick Dead Joan Rivers and Michelle Obama = Dead for speaking the truth Maybe not dead? Elvis, Michael Jackson, Prince Scalia: Victim of The Clintons? / A/B Dating Apps Women's Rights / Protesting the Superbowl Protesters Need A Crystalising message

Hire Power Radio
Organizational Growth Through Culture Prioritization with Justin Erdtsieck

Hire Power Radio

Play Episode Listen Later Jan 28, 2022 19:03


We hear a lot about culture today as being the most important aspect of growth. Yet product development & sales are too often prioritized over people. Let's break this down for a quick minute. Your company's success and/or failure is determined by your people and the relationship you have with their growth. What this means as an entrepreneur is that you are responsible for creating an environment where communication and failure is embraced and celebrated. It is only when people feel safe & important that they take ownership of their role and allow themselves to thrive. Guest Today: Justin Erdtsieck, President of Trencore & Brix In 2016, Justin started to focus the business on hard work, perseverance, determination, resilience, compassion, and trust, and then began relaying these core values to his team through servant leadership. Each individual employee knows they're valued and respected and in turn, they care for the company and the final product. As a result of this mindset shift,  Justin has grown the company from $10M in revenue to over $60M in just a few years.  Today we discuss: Why you must adopt the mindset shift from product to people Justin's mission to put culture at the forefront of the business & the results of that work Challenge today? Story: Stagen: coaching Culture was a shit show!  Inspired by a tour of Zappos. Allowed everyone to create their own space Bio -  History of the company Who we are as a company People come in with understanding the purpose Training Why is this important to the company? 2016 - now- grew from $10M to $60M in revenue. 600 people People want to stay- no one has quit in 4 years Proactive communication has saved the company over $1M a year  How do we solve the problem?  Review Core Values Weekly Standup  Check In meetings in the field (fostering company health) Culture  Creating a purpose, helping everyone understand the why Living by core values Innovative on spreading the word on purpose,  “A place where people feel safe & enjoy the experience we call work” Hiring process Eliminate the cancer Starting people from the bottom and growing them No formal interview process Moved people up internally!  Understand the culture Teach   Trial by fire first… didn't work Stagen program for leadership  Personal development is key Motivated Creating daily habits to hold people accountable Key Takeaways that the Audience can plug into their business today!  -Value: Document your purpose so the people who work with you understand the “WHY” Success comes when you stop worrying about how much money you are going to make Treat people well, take care of yourself & create a good support syste Guest Links: LinkedIn https://www.linkedin.com/in/justin-erdtsieck-a20716105/ Company: https://trencoreandbrix.com/ LinkedIn: https://www.linkedin.com/company/trencore-brix/ Host Links: LinkedIn: https://www.linkedin.com/in/rick-girard-07722/ Company: https://www.stridesearch.com/ Podcast: https://www.hirepowerradio.com Authored: "Healing Career Wounds" https://amzn.to/3tGbtre HireOS inquiry: rick@stridesearch.com   Show Sponsor: Criteria Corp: https://www.criteriacorp.com/

Beyond the To-Do List
Jenn Lim on Growing Beyond Happiness Both Personally and Professionally

Beyond the To-Do List

Play Episode Listen Later Jan 24, 2022 34:36


Jenn Lim has dedicated her career to helping organizations from name-brand industry leaders to innovative governments build workplace cultures that benefit both their employees and their bottom line, with less employee turnover, greater engagement, and higher profits. Her culture consultancy, Delivering Happiness, demonstrates the profound impact happiness can have on businesses' ability to thrive in our ever-changing times. In her new book Beyond Happiness: How Authentic Leaders Prioritize Purpose and People for Growth and Impact https://amzn.to/3qkuFvS Jenn draws on her decades of experience in culture and strategy as a consultant for Zappos and CEO of DH and translates it into a practical “how to” framework for more sustainable workplaces and modern organization design. Jenn guides all of us – no matter our title or role – how to live more meaningful lives through the work we do every day. This episode is brought to you by: Lexus http://lexus.com/NX Net-Results http://net-results.com/beyond Wix http://wix.com/

The Jason & Scot Show - E-Commerce And Retail News
EP285 - 2021 Full Year and Holiday Data Deep Dive

The Jason & Scot Show - E-Commerce And Retail News

Play Episode Listen Later Jan 21, 2022 60:46


EP285 - 22021 Full Year and Holiday Data Deep Dive The US Dept of Commerce December Advanced Retail Sales Data is out, which gives us a full look at 2021 and the 2021 holiday season. So Episode 285 is a data deepdive into 2021. If you want to follow along, we've made a deck with all the data available at https://retailgeek.com/2021-commerce-recap Data Sources US Retail & E-Com Sales Data: US Dept of Commerce E-Commerce Estimates: eMarketer Retail Foot Traffic Data: Placer.ai Web Traffic Data: Similar Web Holiday Estimates: Adobe, Salesforce, Mastercard Episode 285 of the Jason & Scot show was recorded on Thursday Jan 20th, 2022. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:23] Welcome to the Jason and Scot show this is episode 285 being recorded on Thursday January 20th 2022 that's a heck of a lot of 2012's. I'm your host Jason retailgeek Goldberg and as usual I'm here with your Cohoes Sky Wingo. Scot: [0:41] Hey Jason and welcome back Jason Scott chaussures Jason is kind of a shame we neither of us were able to make it in our F but, one of the things I don't miss is every year that I've gone to in our f for the last three times I've went I've had trouble getting there or been stuck there so I think then our F should use this opportunity to move that show out of January and maybe look at something like March or something if they're going to be in New York. Jason: [1:09] Or to the like Bahamas or something. Scot: [1:12] Yeah even better yeah let's make it a destination of it. Jason: [1:17] You know you have my vote I'm not sure you have a majority of votes see you if you have mine that would be awesome. Scot: [1:24] Yeah just watching and it seemed like some folks went and then they had a lot of cancellations so seemed like it was in kind of one of those weird. Hybrid states were if you went and then, person you are going to go see present canceled you sat there in a room with people watching a zoom so that's number Super satisfying but I do think it seemed like some folks you and I know got together and had some dinners and had fund so hopefully that was that was good for everyone. Jason: [1:50] Yeah I had a little bit of foam oh I think you know some people I would have liked to see you know I saw you know social media of them getting together and whatnot and. It's just super bad luck I have a feeling if this show was a month later it would be a lot less controversial that traveled to. Scot: [2:09] Yeah and what did you want to talk about this week. Jason: [2:14] Well you know if we had gone to NRF one of the things that I always like to do it in our f is kind of check in with a lot of our co-workers in the industry and kind of you know get a consensus, about how the year ended up for everyone and what they thought the big issues were going to be for 20 21. So since we didn't get to do that at shop at NRF I thought maybe we could do it on this podcast for our listeners. Scot: [2:42] Yeah that sounds good and then I know you always put together a little for your clients kind of the summary deck and I know that's hard for our podcast listeners so do you have a way to solve that. Jason: [2:55] Yeah so what I thought I would do I put together like a 36 slide deck completely full of numbers and what I thought I would do is describe all of the graphs on the podcast. Scot: [3:09] Sounds good that sounds good and it's going to be a we'll go through it and intricate detail data point by day. Jason: [3:14] Yeah because the one complaint I get about the show is that it's not hard enough to listen to. Scot: [3:18] That's that's from your mom. Jason: [3:22] So that probably isn't going to work but here so here's what I did think I do like instead of, just charging the fortune that we charge clients to go through this presentation I thought I would make a version of the whole deck available to all our listeners so in the event you do want to follow along with the visuals and see the actual data, we will put a link in the show notes you can hit pause for a second, you can open up the deck and I will tell you what slides were talking about in case you want to follow along but but Scott keep me honest here we'll try to make sure we're talking about in a way that you can kind of just, just listen along on the podcast and then look at the deck later if that's the way you prefer to do it. Scot: [4:03] Yeah this is a good time if you like receiving awesome decks for your subscription here which is essentially free this is a good time to hit the five star review we always appreciate that and yeah because we because this is a audio medium we are going to paint pictures with our words and you will see the slides form before your very eyes almost like augmented virtual reality we're going to take you to the metaverse on this thing. Jason: [4:31] Exactly it's a meta verse deep dive into a retail in 2021 and let's jump right into it so. [4:42] Super quick recap last week the US Department of Commerce publishes published their December Advanced Data so that gives us the last month of data we need to see the whole year so it's super exciting for all of us get data Geeks because we now have a complete set of data the one thing to remember is. It's an advanced look and so it doesn't have the granularity of categories that we would like and one of the categories it doesn't have is e-commerce which is highly unfortunate so, the the Deep dive for the whole year with e-commerce broken out will actually be available in mid-February and that's also when they published their quarterly. They're q4u Commerce data which is a separate report so so we have most of the interesting facts there maybe a couple things that filter in last, next month but the top line if we add up all retail sales for 2021 we sold just over six point six trillion dollars of stuff last year which is eighteen percent growth over 20. [5:53] And it's 22 percent growth over 2019 and so, if you do have the deck and you were looking at slide for I show you the last 30 years of growth and the thing that will stand out at you is that this year's growth. Is is almost double the average growth we've had in any of the last 30 years so unprecedentedly good year. Scot: [6:20] This is all retail or not talking e-commerce has. Jason: [6:22] Yeah this is this is pure retail will we will double click into e-commerce a little bit later and you know reminder there's a lot of controversy about what the definition of retail is and so you'll see millions of different numbers out there and it's because. 11 data set has automobiles in it and one has doesn't one has gas in it and one doesn't you know they're all these different things I'm using. The unadulterated numbers from the US Department of Commerce so it does include automobiles it does include gas it does not include restaurants it's what we call, in a ICS code 44,000. Scot: [7:03] Cool good old code it 44,000. Jason: [7:07] If anyone wants to catch me offline and ask for like a different spin I'm happy to talk about how the numbers change when you change your definition but I think that's too complicated for for the podcast but so before I go any further. Like is that does that surprise you at all it has is that has that been your perception that these are Monster year that 2020 and 2021 more Monster years for retail because I feel like that's not necessarily the narrative we've been getting in some of the Commerce media. Scot: [7:37] Yeah no it feels that is a surprise it makes sense and I'm looking at the slide but it makes sense that we were effectively spring-loaded right because you had the shutdown people really, you know couldn't or didn't buy things from March 20 through and so there's put up demand but what's interesting is you really don't see, unlike the Great Recession about it no nine you don't see a retraction before this the splurge and this is way way bigger than that period of time so it is it is surprising. Jason: [8:08] Yeah so so, in aggregate retail did awesome and then on slide 5 I give you this fun way of looking at the data that you and I helped help kind of evolved together but the idea is that we give you a separate line chart for 2019 2020 and 2021 and so you can kind of see. You know how the year stack up against each other and you know. [8:35] 20:19 was the unaffected by the pandemic than 20/20 happen and of course there was this huge dip in April when the pandemic first got real for everyone because the NBA cancelled games and it recovered super quick and then you know the rest of 20/20 was actually above 2019 so retail grew. From 2019 and 2020 even though we were like right in the thick of the pandemic and then in 2021 retail really shot up and the. The hypothesis here is there are two things that really caused this number one there was a bunch of. Economic stimulus that was poured into the economy right like there's a lot of extra money available and consumers were in, like generally really good Financial shape so there was a lot of potential to spend and then a lot of the things that might have gotten some of that money experiences like travel in restaurants and vacations, we're not available in the most consumers so instead of paying money for a gym you bought a Peloton instead of going to a restaurant you bought groceries and instead of going on vacation you you got new patio furniture right and so you know the combination of, more money and less things to spend and on ended up being super favorable to retail overall. Scot: [9:59] Yeah that makes it so that it's really a factor of the stimulus is what you're saying. Jason: [10:06] Yeah and we'll talk about the downside of that if they end of this podcast but so that's the industry average and I would remind everyone to be cautious. In thinking about averages because, very few retailers experience the average right like in general there were big winners and losers based on categories and I'm for the purposes of the podcast we're not going to talk about category growth or foot traffic. From 2022 2021 because 2020 was such a weird year because of the pandemic I actually am going to jump ahead in the deck to slide 9 which is where we start talking about, comparing. Last year to 2019 so like what the cumulative changes were over the from before the pandemic to you know at the end of the second year of the pandemic so. Over that two-year growth we grew 22% as I mentioned earlier and so I actually. [11:09] Put together look at what the average to your growth was every year for the last 30 years and in general the average two-year growth is around 10 to 12 percent so 22% is, unprecedentedly High. Two year growth and remember like you know there was in 2008 there was this recession and there was negative growth so you'd think the the year-over-year from that recession would be super high but but this. 2020 and 2021 year is basically the the best years of retail in our lifetime. And so then I go to slide 10 where I show you how fast each category grew and remember if the industry grew 22%. You really want to be growing faster than that 22% so the categories that one the grew faster than 22% we're your new favorite category automobiles. So they grew at 24 percent which was mildly surprising to me because you, you know early on you would assume Car Sales slowed down significantly and then of course there have been all these chip shortages that's made it slightly hard to buy cars, and yet cars were still one of the bright spots does that surprise you at all or were you totally dialed into that. Scot: [12:30] Yeah the counter is the used markets on fire and they're marking the cars up so there's kind of like an inflation of car prices in there that I think. One of the reasons so if there is a car dealers are taking these pretty exorbitant markups on those, which is kind of short-sighted but that's what they're doing and yeah so so it doesn't surprise me too much when you know what surprises me is where did it all go so we had this like tsunami you know anything about retail it's you know it hasn't been over. You know like what, 10% for a long time and then you've got in the two year ago comparison you get up to maybe like 15% so it's like a surge year where did it show up like I can't think. You know amongst the public companies the Walmarts the targets and that kind of stuff I don't really see it I don't see them just like, blowing up expectations and saying oh my God so much money flooded into our coffers. I kind of wonder where it went or maybe it's going to show up and you know in when you when you chart it out it looks like a lot of it came at the end of 21 so maybe we haven't seen it come out and the public markets but it's going to be you know I kind of wonder where it went. Jason: [13:42] Yeah so I would argue that we are seeing it like in the big companies in the Amazon Walmart Target Kroger and certainly Home Depot and dicks we are seeing it. And so I think the car one is a harder one to see because the car you know the actual car dealers are so fragmented because they're all franchisees. Scot: [14:05] Carvanha has seen it carvanha. Jason: [14:06] The Used Car Guys for sure saw it so let's come back to that in one second let's talk about the other two categories that were above the industry average building materials and garden supplies right so that's Home Depot and Lowe's and you know they're there to your growth Stacks were like significantly up from previous years and again. Part of the reason they would be up as people spend a lot more money on their homes when they were traveling last and then and so that category group thirty percent over two years and then Sporting Goods grew 38 percent over two years so that's you know dicks and sporting goods and and those folks and they were seeing like like I want to say the two year growth stack on dicks would be is like 94% or something so. Scot: [14:56] Yeah. Jason: [14:59] So and then the categories that still like had, by historic standards great growth but did not grow as fast as the industry average grocery stores so only grew 16 percent I have to say that surprised me a little bit because I would have. Expected you know with the hit that restaurants took that the grocery would have outperformed the industry average but you know it doesn't seem like it. It did and then, furnishings and furniture and Home Furnishings grew at 21 percent so about the industry average and again because of all the money people spend on their homes I kind of would have expected that to be higher so those two things. Surprise me a little bit. And then the the categories that were you know more significantly hurt by the pandemic like gas and clothing, you know clothing was still up 13% gas was up 15%. And that's what hurt looks like right like so you know up 13 percent against the industry average of 22 percent like that's. You know kind of the the low end and you know I think if you talk to apparel people during the pandemic they would have said like oh we're you know we're experiencing Armageddon if you compare this 13% growth too you know any of the last five or six years for apparel this would have been a great year. [16:23] And then the most inexplicable to me of all and I think it just has to do with the mix in this category is Electronics and appliances are only up 6%. And I I'm totally open if you have a hypothesis cop but like I think everybody bought a lot of extra Home Tech. So especially the beginning of the pandemic everyone's buying extra computers for their kids for homeschooling and everybody's updating their work from home stuff, and you know over the two-year course of the pandemic you know everybody remodeled their kitchen about new appliances so I'm a little befuddled. Why that you know that category is literally the bottom of the Barrel in this the US Department of Commerce data and it's only six percent of growth. Scot: [17:13] Yeah let me look at the year. Jason: [17:18] I have a so while you're looking I'll just I'll tell you I my. My unfortunate hypothesis so there's an enormous flaw in the US Department of Commerce data and that flaw is that they call e-commerce or non stores. A category. So you're either a Peril sale if you sell the clothes through a store or your Anon store sale if you sell the clothes online, and so if you sell a TV out of Best Buy you're in electronic sale but if you sell the TV online for curbside pickup. You're a. Non-store sale and so I didn't mention this earlier but the category that actually grew the most by far during the pandemic is non store sales which are 38% and we, have any good way to know how that breaks down by category so my hypothesis is the electronics category actually probably did better but the it over index to sales going online and therefore it gets office gated in this US Department of Commerce data. Scot: [18:32] Yeah and then accentuating this is the supply chain problems hashtag Supply pain where you know a lot of that stuff you would go into the store for especially big appliances where you kind of want to see it and touch it and feel it before you order it, I know on the order of 10 people that cannot get washers and dryers. So you know that that was all like this big appliances are in and they've been waiting since you know, Q3 last year to get these things it's insane so that could have you know so you have this kind of double edged double whammy of a lot of stuff moving online or non-store from the store in the store or struggling because they can't get inventory for the shelves and you know every electronics item has a chip. Jason: [19:20] Yeah so I do like that I will say it from the data it looks like more of the group The Slowdown was in, 20/20 than 2021 which like kind of argues it like. Scot: [19:35] Yeah attribution. Jason: [19:37] Yeah so but I don't I don't know and so then so that so far everything we've talked about is US Department of Commerce data so I'm also super interested in how many people walked into a store so I asked our friends at Placer AI which is a, a company that has access to a huge panel of consumers that have software on their phones and it tracks where they go anonymously and they use that data to forecast. Retail foot traffic across the country and so I put together a data set so on Slide. [20:21] 11 of the deck you can see how the 20 21 foot traffic every month compared to 2019 and so for the first half of 2021, um foot traffic in retail was still down between 10% and 0%, versus 2019 so fewer people are going to stores in 2021 then we're going to stores before the pandemic. And then by July we had our first kind of Positive Growth since the pandemic so July and August we're kind of up for and six percent over 20 19 respectively, then we had another slight dip in September and then we had a pretty prominent dip in December of 2021 which was probably the Omicron variant kicking in. [21:12] But so in aggregate. There are still fewer people walking in a brick-and-mortar stores in the United States of America in 2021 than walked in a brick-and-mortar stores in 2019. Scot: [21:24] There are some it almost like it seems to be correlated an inverse correlation with case count right so in the summer cases were kind of low everything was feeling pretty good and then we had kind of the surge the Omicron surged kind of come back and here at the very tail end of 21 we saw a really plummet. Jason: [21:42] Yeah no for sure and there are lots of people that I have been correlating these statistics to case counts or hospitalizations or. Or mortality or any of those things in there are strong correlations so you're certainly right. [21:56] Um so then I I said all right well let's double-click on some of the categories that might be interesting and one category that I mainly double clicked on for you was Automotive so for folks that don't know Automotive is the biggest. Category of retail spending and which kind of makes sense because it's the. The highest ticket item so 1.5 trillion dollars in in car sales in 2021 which is 23 percent of all retail spending so we said 6.6%. Six point six trillion in retail 1.5 trillion of it was cars and that's up as we said earlier 24% from 2019 and then I give you kind of the, the shape of that Demand right and and you know so again, the best month in the history of car sales was April of 2021 and then it's been, tapering off a little bit since then but still up significantly from 2020 and 2021 is up nominally from from 2019 so a very vibrant year even though per your point you know it's actually hard to get vehicles right so a lot of this this. Increase in sales is an increase in price points and inflation versus unit sold but I think it is a little bit of both. Scot: [23:20] Yeah the other changes there's a pull forward because what dealers have started doing is pre sailing Vehicles so it's almost like an auction where they'll say Jason I know you want this IMA Mustang and we got three coming in and August but if you want one of those I'm going to need you to, pay me to there now I don't know how that correlates to these numbers but we're seeing this big pull forward of the consumer dollars into the auto category because of this pre-sale thing where, historically it was you would go test-drive negotiate and then buy the car and it was sitting on the lot the inventory model is kind of flipped right now which is interesting. Jason: [23:59] Yeah yeah and I know not not related to sales velocity necessarily but another interesting thing is. The amount of test drives per sale is way down like it used to be like three test drives per sale and now it might be less than one test drive per sale. Scot: [24:17] Yeah it's kind of it's fun being in the auto category because some in some ways I feel like I've seen the movie before right so for example remember when Zappos came out and they disrupted the shoe category by saying free 365 returns, well then everyone would just buy would say well sometimes I'm an 11 sometimes in 11 half and 10 half I'll just order all three in return to. So then everyone had to adapt that new model because consumers flocked to it and the car industry carvanha has had a seven day return for a vehicle and that's how they got around the test drive and everyone laughed at him and was like why would you do that that's ridiculous and then the pandemic it and everyone had to kind of adopt that model so that's that's gotten rid of the test drive most dealers now have had to adapt to that that more customer friendly model and effectively have like a seven day return window. Jason: [25:06] Yeah and you know you've heard me say this before but I've been following the ottoman of category relatively closely and the grocery category for two big reasons they're they're the two biggest pieces of consumer spending but also before the Pandemic those were the two categories that were released digitally disrupted like a small percentage of cars were sold online a small percentage of groceries sold online and so those two categories were the most disrupted by digital they they got the most digital fastest as a result of the pandemic so I've been super interesting because per your point a lot of the learnings that we've had over the last 20 years in the apparel industry in the consumer electronics Industry and the home industry like are now you know playing out in an accelerated basis in the automobile industry and in the grocery industry. Scot: [25:57] Yeah 11 cool example and I know you know these guys so yeah I tell folks a lot about how Walmart budget and it was kind of like this this analog kind of old-school company building bringing deep digital DNA and we would see a lot of that not emotive category and sure enough Discount Tire which is a brick-and-mortar tire shop family-owned what are they like 100 years old or something like that and they just bought Tire Rec which is kind of the you know the online incumbent and they're merging those two companies together so it's funny because everyone thinks I'm kind of a Nostradamus of this stuff because but it's really just, the exact same thing we saw happen in e-commerce with other categories as happening in the automotive category. Jason: [26:42] Groundhog Day yeah sometimes when I'm impatient I really have to avoid telling clients so I know you need to figure this out for yourself but I know how it is. Scot: [26:52] Yeah. Jason: [26:54] But so I mentioned the grocery category that's the next category that I want to talk about briefly so now we're on slide 14 of the deck, and groceries the second biggest category of consumer spending it's fourteen percent of all retail spending so it's, 901 billion dollars in 2021 and and I mentioned grocery was up pretty significantly up 16 percent but but that you know that is a little less than the industry average and I give folks that that same kind of three-year year-over-year graph if they want to see it but then a bonus data breakdown I always like to do for the grocery industry is on slide 16 and this is a, a line graph with two data points grocery store sales and restaurant sales, and what's interesting about that is for like a pretty significant period of time about a 10-year period. Sales were split almost 50/50 between restaurants and grocery stores so all the the American calories were kind of divided 50/50 between McDonald's on Applebee's and Walmart and Kroger and in the pandemic exactly what you would expect to happen grocery sales shot up and restaurant sales you know took a nosedive. [28:13] Over the course of the pandemic they've moved back closer and kind of come summer of 2021 they actually came back to where they used to be so they were kind of level again and we were like I wonder if that, if if that Gap is over but then Omicron appears to have open that Gap backup so at the moment there is still about a ten billion dollar a month discrepancy between spending on on groceries and spending on restaurant so potentially bad news for the restaurants. Scot: [28:48] Yeah well you wouldn't know it at my restaurants or so they're they're they're super busy. Jason: [28:53] Nice. Scot: [28:55] Could be you know we you know it's interesting traveling around the country a little bit now it's like living in 50 different. Countries the way they're covid policies are so you go to you go to Florida and Texas and everything's just open and normal and then you go to the north east or the west coast and things are very much shut down, and here in our kind of a kind of in the middle but we're still struggling our restaurants part of it could be that they're just closing all the time so we have several restaurants that just can't keep their doors open due to this kind of constant struggle between in team members employees and supply chain so you'll you'll go and they'll have to close early because they didn't have anyone to work that shift and then you'll go and they'll be like we're out of you know it'll be a salad place in they'll be out of lettuce you're like yeah guess may not have needed open but they'll be in there with nothing to do so so it's really. The economy is having a really hard time it's really kind of sputtering right now across those things which which could fall into restaurants and bars you know this, looking into this year into 22. There's a lot of grocery stores are have bare shelves and I don't I was going to actually because you're the grocery guy I don't know what's broken in the supply chain there because obviously we don't rely on China for you know, a lot of that stuff so it's not the that specific thing but that seems to have really become discombobulated as well. Jason: [30:21] Yeah so yeah for sure there it turns out like there is for a, a fair segment of the grocery products there is an international component right like so there are weird ingredients that we do depend a lot on on Imports for right so you know even if the Mondelez cookies are made in the US the sugar for the Mondelez cookies is not and so it it is possible for the shipping to to have an impact on Oreo availability it just it tends to be delayed because it's it's more the ingredient than the finished goods that that is getting in. Scot: [31:01] Catching you know maybe the package. Jason: [31:03] The cpg guys even more so right so a lot of the chemicals that get used in cpg products and a lot of the the, the packaging like blue ink for a while was one of the the the constraining factors and so you know, Brands did have a hard decision to make do we like change the color of our packaging so we keep stay on the shelf or do we you know try to stay true to our brand and wait for morning. Which are not decisions you imagine ever have having to make. Um and then you know grocery is have its groceries a very fragile ecosystem margins are really thin and so. More so than other categories of retail the wage inflation has a Major Impact in it it actually. There's a low-wage workers all the way along that supply chain and so you know a big thing that takes out. Domestic food is you know there's a round of covid at the meat processing plant. And that that can you know be a big Regional hit I walked into a breakfast place last weekend and they were out of eggs, and I'm like wait a minute I haven't heard about an egg shortage or like are we having an egg shortage and the guys I know are our manager just screwed up the hole. [32:27] Yeah but I was I was with you I guess yeah what it's questionable why you open if you're a breakfast, restaurant and you don't have any eggs or you should at least put a vegan sign up or something I don't know. So I always like to talk about a parallel because for a long time apparel is like one of the crown jewels of the retail category and people are super excited about that and you know there was an ERA when those were the best jobs so up, Peril is much more it's about five percent of retail sales it was 303 billion despite the fact that we all have been living in sweatpants for the last two years apparel sales were still up 13%, that definitely was a mostly due to a 2022 2021 recovery 2020 was a really bad year for apparel and it started to come back so apparel is one of the few categories on Slide, 18 where I give you the three-year graph of the the category it's one of the few categories where the 2020 sales were consistently below the 2019 sales and then 2021 they, they came back up to the top and you know one interesting fact about a parallel that I give you a data breakdown on 19 is. [33:41] Apparel has just been getting cheaper over time that in the 1990s apparel was seven percent of retail spending and now it's about four and a half percent of retail spending and that's a largely because good clothes are just less expensive and and you know the same closet that an American would have had in 1990 Hassel asks in 2022 and so if you're growing in the apparel industry you're you're growing in a shrinking Market which is you know always a challenge to do. Scot: [34:15] The entire Farm it's kind of shocking to see April 2020 you know touching effectively zero sales and monthly apparel that's crazy that I feel for those guys that must have been a scary. Jason: [34:28] For most of these graphs I change edit the scale to make the graph as high resolution as possible so the bottom of the graph isn't zero but in a Peril it absolutely is. Scot: [34:38] Yeah might as well be easier yeah. Jason: [34:40] Um and so, so that's enough of the categories I know a lot of listeners on our show were particularly interested in e-commerce I wanted to talk about e-commerce for a minute I mentioned the official. Breakdown of e-commerce you know we won't get for December until the middle of February we do get a, a kind of proxy for e-commerce which is called non store sales it is a it is a bigger bucket and it has more other stuff in it than just e-commerce but if I look at, the 11 months of internet data and then the the one month of non store sales data. It's pretty clear that we're going to come in around a trillion dollars in e-commerce sales so if the official numbers work out the way I think this will be the first year the e-commerce in the u.s. is over a trillion dollars. Um that would represent 16 percent of retail sales so 16 doesn't sound like a huge number, but again it just depends on what your denominator is that 16 percent is you know overall of retail which includes, cars which are getting more digital but still aren't very digital it includes gas which is you know only digital in a couple neighborhoods in San Francisco, um and so I you know you start pulling out some of those traditionally non-digital categories and you know. [36:02] That one trillion dollars represents about you know between 20 and 25% of all the categories that that you know people are willing to buy online and so it's become a very meaningful mix and obviously. It was the fastest growing because of the pandemic but inside 21 I show you the the. The three-year breakdown and the thing that's unique about e-commerce versus some of these other categories. [36:32] E-commerce head its monster growth in 2020. So the two-year growth numbers are still amazing but the one year growth numbers from 2021 to 2020 are not so great because we're comping against. [36:46] A monster year and it's been interesting because like Shopify stock is down because their comps aren't very good right but really there you know. They're comping against these monster numbers. You know lots of retailers are calling me right now and they're in a panic because they're not they didn't hit their goals and their their you know numbers are wrong and I'm like. I mean they're you know their numbers are soft and I'm like well but let's look at what really happened like you had unprecedented growth over the last two years and you're you know you potentially are. Thinking about it in the right way so on slide 22 I give you my, entire story of the world going digital in one slide and it's a little hard, hard to follow but basically what I show you is I show you the brick-and-mortar sales every year or every quarter and then on top of that I show you the e-commerce sales so you can see the e-commerce growing you can see kind of, as a portion of retail what it is and then I show you the rate of growth for for retail and e-commerce and until the pandemic we had a pretty consistent story, e-commerce was growing at like between 15 and 20% a year and brick-and-mortar was growing at three to four percent a year and that was pretty reliable, so then the pandemic happens and brick-and-mortar shrinks for a quarter and e-commerce explodes by you know over 40%. [38:10] And since that time they've been coming back and so for the first time in my life time in Q2 of 2021. Brick-and-mortar actually grew faster than e-commerce for the first time ever. Largely because of the you know they're comping against these these you know huge huge March of 2020 and you know I will see you when the data comes out next month but I have a feeling we're regressing pretty quickly now back to the kind of the the pre-pandemic rates of growth like we absorbed all this big e-commerce growth for two years and I can you know I kind of think we're gonna see e-commerce level back down at that 10 to 15 percent growth every quarter and and Retail drop back down to the 45 percent growth of quarter. Scot: [39:06] Well I think it's you know I think the silver lining for me is and I'm the e-commerce guy here is we had the Surge and then we actually did kind of even better than the surgeon you know you could have painted a story that said this will kind of flip – for your to as it kind of the subsides and then then we get back to normal so so the rising tide kind of stuck and created a new high and then we have continued to grow from there how does I know this this agitates you which is why I bring it up but you know this does not support you know that Theory out there that we pulled forward like five years of e-commerce. Jason: [39:43] Yeah no we we didn't and most of the evidence now is that. We're we're not even way ahead of where we would have been that like like we we got the sales early but that. The future growth is. Slightly slower as a result so that like five or 10 years from now you know will see this this blip on the graph but we'll kind of you know end up at the same same place we would have end up without the the pandemic is most people's projections that's less to true in some of these, digitally immature categories like grocery or automobiles where we really did probably pull in you know kind of accelerate two to three years into the future. And so I did on slide 23 I give you the our estimates of the 2021 e-commerce sales for a bunch of retailers because I'm often surprised people. Don't necessarily have. [40:52] The the best perception about how the relative size of all these retailers so these estimates come from emarketer there there gmv us estimate for Amazon is on the high side of all the estimates I. I look at but they have 20 21 gmv for Amazon and about three hundred seventy six billion. Walmart's the second largest e-commerce site by a lot at 60 billion so quite a bit smarter than Amazon. Until recently eBay would have been the second biggest site and Walmart's approaching twice as big as eBay now so they have shot past eBay. To get to 60 billion eBay's at 38 billion apple is at 37 billion and then like people people forget how big a player apple is alone I saw a funny stat that like. If the air buds alone the air pods alone were a company like it would be the 10th largest company. Scot: [41:50] Yeah that's crazy. Jason: [41:52] And so then you get like a Home Depot is almost 20 billion targets 8 almost 19 billion Best Buys on you know over 16 billion, Costco who's the bane of my existence Costco like pays the least attention to digital they you know always talk about how unimportant digital is and how they don't like it, and I tell everyone what a horrible mistake that is and then Costco continues to Excel and despite not trying they sell 14 billion dollars a year on line. [42:24] So then you can see the rest of the the top 15 on that slide on slide 23 if you're interested but it's interesting to understand the. The relative size of some of these companies. And so then you know one of the things that people always ask about is what did holiday look like particularly so the next section of this deck is, a double click on on holiday 2021 and so. I'm defining holiday as November and December sales that somewhat controversial because there's a lot of different ways to think about it. If we just look at November and December sales this holiday period was the the largest retail holiday ever. And it drew about 16.1%, which is vastly faster growth than any other holiday like the next biggest holiday was 10% so so kind of the same story for the whole year we get in Holiday it was a monster holiday, um You know again that depends a little bit on how you Define retail in RF likes to pull gas out of their number so they're there they would say holiday was 14 percent growth which is still. A monster number. So then I went back to our friends and place Rai and said hey what is foot traffic look like every week of holiday. [43:49] And that to me was kind of interesting so. You know December foot traffic was down overall I'll remind you because of Omicron but if we kind of look at the the weekly data for Holiday foot traffic was actually up versus 2019. Leading into the Thanksgiving weekend and so then the weekend that was way down was Thanksgiving weekend way less people went to stores on Black Friday, then went to stores in 2019 about six percent less, and then you know the rest of holiday was slightly above so if it weren't for the decline in Black Friday traffic I would say foot traffic and Retail was up about 2%, over 2019 but that Black Friday dip pulled the whole thing down to where we still aren't back to 2019 levels does that kind of make sense. [44:44] And so one of the things that is a common narrative about holiday and I've even contributed to this narrative is, man retailers are really trying to pull sales in and holiday starting earlier in October and you know holidays flattening it's less about these big, spikes on on Black Friday and Cyber Monday and so now that we have real data I'm like oh well let's see how, how that really held up in the first thing to know is. The early sales in October was kind of a myth like there was not an unusual spike in sales in October and so you know. [45:20] There was not a huge success in pulling sales into October and so then what I did is I went to similarweb which similar web has a data set of e-commerce site visits and what I like about that is, we can get much more accurate granular data than we can on like foot traffic or you know foot traffic or lucky to get weekly data but for e-commerce we can get daily number of sessions or unique visitors or things like that so I said hey let's take the hundred biggest e-commerce sites in the US and let's see total visits and let's compare, 2019 with 2021 and the first thing to remember is. You know Thanksgiving doesn't fall on the same day every year and so what I did is I normalize those I said let's not do November 1st through December 31st, let's do the 25 days before Black Friday in the 32 days after Black Friday so that we could kind of. Match up the the flow and what you'll see is there was a lot more traffic on e-commerce sites every day of holiday in 2021 than 20 then 20, except for two days Black Friday and Cyber Monday and Black Friday and Cyber Monday 2021 with still above. 2019 but they were nearly the same and so. The I guess what this would say is this partially Bears out our hypothesis. [46:48] E-commerce visits did level out like the traffic did get spread out to the whole 60 days more than ever before but those those two tent poles are still tent poles and they still are by far the busiest days, so I you know I definitely you know think that the narrative that like those Temple days don't matter anymore is kind of a misnomer and they you know they got nearly twice as many visits as a normal holiday day. Did that surprise you at all. Scot: [47:20] The surgeon the chart 21 is interesting at the end I think that's my procrastinator people. Jason: [47:28] So so yeah so. Scot: [47:29] It's where I shop. Jason: [47:29] It's God's talking about is the gap between 2019 and 2020 is pretty consistent but then opens up the most ever has, um the very end of the holiday and my hypothesis for that is again this is e-commerce it's Omicron again so I. There was pent-up demand to go to stores people were going the store store traffic was going up and then store traffic fell off a cliff the last half of December as people started getting nervous and so I think that you know drove more people to e-commerce again as my least is my hypothesis. [48:03] And so so that I think is a super interesting data set I definitely am grateful to have access to the similarweb stuff and wow I was diving into their data Isles one of the cool things there's we can see traffic on individual website so I said, well let's see who the winners and losers are in terms of traffic and the story here is. The the traffic is disproportionately going to the the big high-performing sites so you know not surprisingly, Amazon gets the most traffic but they also got the biggest chunk of traffic growth so sometimes you'd say hey the biggest most established players should be the hardest to grow. Amazon Druids traffic faster than any other top 10 retailer which is pretty impressive, and then the next biggest grower was Walmart so this is kind of the story of the rich getting richer and you know traffic and sales consolidating on the, those those very big a sites which is kind of the story you see on slide 29 if you're following along on the deck. Scot: [49:12] The thing that fascinates me about this data is you have like Etsy with the fourth most traffic but then they're like one of the smaller e-commerce sites right so does that, yeah it does that mean no well that's apples and oranges I guess that's all of retail in the previous comparison. Jason: [49:30] No that was at Seas. These e-commerce sales are about little less than 8 billion in the u.s. versus like Walmart at 60 billion but then Ed C does have like like nearly as much traffic as Walmart right like. I want to say they did 600 million, visits over the holiday period versus Walmart did like 1.1 billion so, so you know despite Walmart being 10 times as large they only had twice as much traffic and I think part of the reason for that is the the. Kind of thin long tail nature of Ed c means that their overall conversion rate and the amount of you know pay visits you have to do to find what you want is. Is higher than then it is on Walmart where you're more likely to go to Walmart with with high purchase intent for a particular item and these days it's pretty easy to find that item and get out. Um and that kind of is born out Ebay is still the second large just traffic site even though they're they're shrinking and again eBay's almost half the size of Walmart but eBay is traffic is still higher than Walmart's. Scot: [50:52] Yeah it's a huge it's kind of sad in one way but it's a huge opportunity Bay could get their act together and convert that traffic the way Walmart is they. Jason: [51:00] Yeah if I could redo our. Our predictions episode so you know I talked about in a number of times on this that one of the big trends is retail media networks and you know people selling ads what this data set uncovers more than anything else is the untapped opportunities Ed C needs to get a retail media Network up as soon as possible because I, as far as I know they don't have one. So they should be monetizing that traffic because that that that that's a valuable asset they're not they're not leaning into yet for all our Etsy listeners so then I will just say in this is you know the Chrome Legend in me, during holiday we talk a lot about these estimates from companies right so Adobe you know you know we have on the show and they give us their real time estimates based on on all the customers they see we have sales force on the show every year and they give us real time estimates and then you know when we talk about that I don't think we've had on the show is Mastercard has this product called spending pulse which is, kind of an anonymous aggregated view of all the people that buy stuff with MasterCard and. [52:08] Just just for interest Adobe MasterCard in Salesforce all agree, um that the e-commerce grew about 10% in in Holiday 9 or 10% and holiday of 2021 and that passes the smell test again we don't have the e-commerce data for for December yet so I don't really know but that. That feels like the right order magnitude so I think you know these guys all credibly predicted, the shape of holiday e-commerce but the only one of these guys that predicts brick and mortar is Mastercard right Adobe and Salesforce are pure online retailers and every year I always get weird data from MasterCard and I say this because the whole. The whole world and especially the media like publish this MasterCard data far and wide and and treat it as fax MasterCard like on December 26th said that, retail sales were going to be up 8.5% and that meant they were going to be up 10.7% versus 2019. And so we now know from the US Department of Commerce data that that they were off by 50%. So just call out to my friends at MasterCard that I'd be curious to understand what's going on there from my. Scot: [53:31] Your category thing. Jason: [53:32] Yeah from my seat Well they argue it's not but from my seat there consistently off on the brick-and-mortar number so I'm I'm curious and so then. [53:42] Every time I have this conversation with a colleague or a client the especially someone that maybe doesn't live and breathe e-commerce every day is soon as you start talking about this monster growth number, what everyone asks is yeah Jason but how much of that is inflation right because the thing we hear about in the media the most. Is is inflation inflation inflation and so you know it stands to reason if. [54:09] You know if something grew by 10% and people are paying more you know ten percent more for everything then that explains it and this you know this is an inflation story not a growth in consumer demand story and so I like to put in. Just a little kind of inflation picture at the end. The so I give I give folks a graph of the government, inflation numbers for for for these three years and and what you can see is that like for most of the pandemic inflation. Kind of stayed in the normal range and then we started this, this huge climb not until January of 2021 so if you remember like all a lot of this growth were talking about was 2020 growth, inflation doesn't explain that growth at all there is significant inflation in all of 2021 and it's historically High it's you know depending on how you want to count it could be a 40-year high and so it finished in December. [55:14] At seven percent and so if you figure normal inflation, is a about 11 and a half percent inflation was already high before the pandemic at 2.3 percent. You know if you say alright it should have been at 2.3 percent and it's at seven percent then you could. Say that the kind of back half of 2021 sales that you know. That three or four percent of it can be explained by inflation but definitely not this 22% were talking about. [55:48] And I don't know if you been thinking about her talking about the inflation a lot it's kind of. It's it's kind of funny because I always like to remind people the long-term picture we're all paying way less for goods than we ever did before so I kind of pull this. This 20-year inflation number to remind people that like we're paying fifty percent for a pair of what we paid 20 years ago we're paying, 30% last for personal products and beauty products were paying 17 percent last four cars we're paying 12% less for food all the tangible stuff we buy is getting cheaper because we're getting better at making, and where the American family's budget is going is to Services right so you know the American families having to pay way less for hard goods and food and way more for housing education and Healthcare and that's the big macro picture, but then we've had like the we talked about a lot of the growth in retail coming from all this economic stimulus, the the downside of that economic stimulus is. [56:47] It actually is one of the contributing factors to inflation right like the people have more money to spend, um they buy more the supply chain wasn't prepared for that buy more and so we have, supply chain disruption and so now you have Supply going down and demand going up and what do people do in a rational Market when they they have high demand and low Supply they they charge more, um and so then you know people say hey everything I buy is more expensive I need to get paid more and we have this unprecedented leverage that workers have right now because the labor shortage so they're all negotiating better prices and guess what that means they can afford. Pay more again and and manufacturers are you know having more costs of labor for making stuff so they're charging more and what's been super interesting and all this is, you know it's kind of an excuse for manufacturers to charge you more like most of these manufacturers that are raising their prices are also setting record profits so it's not like. True that like. All of this information is manufacturers passing costs on to Consumers it's a little bit of the the you know opportunity of the moment of you. Scot: [58:01] Yep it's complicated to the inflation a lot of its gas and then to your point a lot of it's stuff that doesn't have this inherent deflationary element to it like healthcare and we're paying more and more for healthcare education anything that has a service component is shooting way up. But even even in the short term though like yeah everything at the grocery store is insane right now it's crazy. Jason: [58:27] Yeah and food and gas are historically more volatile so inflation goes up and down more like side note you have to take all these numbers with a grain of salt because the way they measure it is, they measure the cost of a basket of goods that an average American bought but they built the basket of goods in like 1945. And so it's not the right past it's for today there's no iPhone in that basket. Scot: [58:50] Yeah. Jason: [58:52] So yeah so it's interesting fun it's fun for me because I'll actually be on Good Morning America this weekend talking about inflation. Yeah always fun but yeah I. I'm with you if you take what's called core inflation where you pull gas and food out inflation's like 4.5% so for most of these retail categories, it's part of the story but it definitely would be a mistake to Discount all this growth and say oh it's just. And that's my scoop that's your 36 slide deck that you're all welcome to grab and use my thanks to all the the data providers that contributed to all of it so I have a, a bibliography at the end so if you're interested in starting to track any of this data on your own I tried to make that easy for you. Scot: [59:41] Yeah when we do when we post the show will also try to get on our socials because I've had some people say they can't find the show notes and so we'll make sure that we disseminate this wide and so everyone has it. Jason: [59:55] Well Scott not surprisingly we were able to perfectly fill up an hour with this one topic. So hopefully you found value in this is Scott mentioned the top of the show if you did we sure would appreciate that five-star review, but thanks everyone for kind of following Along on this like pretty dry difficult data dump episode I hope I hope it was useful please, give us feedback if you liked it or if it was not the right format. Scot: [1:00:23] People of data in retailgeek delivers and until next time. Jason: [1:00:28] Happy commercing!

Rise of The Young
Yahya Mokhtarzada - Co-Founder of Truebill Speaks on Getting Acquired For $1.275 Billion

Rise of The Young

Play Episode Listen Later Jan 20, 2022 36:38


Yahya Mokhtarzada is the co-founder of Truebill. Founded in 2015, Truebill created a personal finance app that uses artificial intelligence to track spending habits. The Maryland company was acquired by Detroit, Michigan-based Rocket Companies, which develops real estate, mortgage and financial services technology, for $1.275 billion in cash (December 2021). Prior to cofounding Truebill Yahya served as VP of Business Development at Nanigans, an advertising technology platform focused on social and mobile channels. At Nanigans, Yahya executed platform licencing agreements with enterprise advertisers including Ebay, Zappos, EA, Zynga, Amazon and Wayfair. Follow Yahya Mokhtarzada on Instagram: https://www.instagram.com/yahyam/?hl=en Learn more about Truebill: https://truebill.com

Hands-Off CEO
Reverse Engineering Success with Ron Friedman

Hands-Off CEO

Play Episode Listen Later Jan 20, 2022 31:26


Mandi Ellefson's guest is Ron Friedman, the founder of ignite80, an organization dedicated to teaching leaders practical, evidence-based techniques for working smarter and elevating their team's performance through keynotes, workshops, and consulting. He is also CEO at Friedman Strategy Group, where he fuses psychological insight with cutting-edge research to deliver actionable marketing recommendations. You'll hear Mandi and Ron Friedman talk about: “Throughout our lives, we've only been taught two major stories of how people achieve greatness,” Ron claims. “Greatness comes from talent, or greatness comes from hard work.” He talks about the less famous third path to greatness: reverse engineering. [3:16] Successful entrepreneurs aren't harder workers, more creative, or more intelligent; what they excel at is pattern recognition. They observe the market, see what's working, and identify where it's going to go next. Mandi and Ron explore this. [5:10] Many of the stories we love are simply the same story with different characters. Similarly, people who have achieved greatness share commonalities that we can adapt to our own lives and use to our benefit if we take the time to observe them and find the patterns. Ron shares how. [13:07] “The key is to take a few samples to reverse engineer and templatize, and combine the different elements that you find powerful; now you're not just copying someone else's formula, you're making your own creative approach,” Ron explains. [20:42] “Sell first, build later.” Ron shares the story of Zappos, founded by Nick Swinmurn, who took the ‘sell first, build later' approach when he created the company. He started off just posting pictures of shoes from his local shoe store online, buying them when someone placed an order and reselling them to the customer. Zappos scaled significantly before being bought by Amazon for $1.2 billion. [26:40] Resources Ron Friedman on LinkedIn | Twitter FriedmanStrategy.com Mandi Ellefson on LinkedIn | Twitter | Facebook Hands-Off CEO - Executive Briefing

Albuquerque Business Podcast
16 Hours on the Tram - How to Understand and Change Your Company's Culture Part 2

Albuquerque Business Podcast

Play Episode Listen Later Jan 13, 2022 13:45


Part 2 - We got into details of Tram incident, and also why Companies have Toxic Culture.  This is the ABQ Business Podcast with your host Jason Rigby and Alexander McCaig Each week we interview leading business leaders to inspire the vision and the spirit that is in every entrepreneur. We discuss strengths, weakness, strategies, systems and the problems we can all solve together to fulfill a shared vision of a new future for ABQ Business. Please go to www.abqpodcast.com where you can get show notes, resources, and links to everything we talked about today to help you navigate your journey as an entrepreneur and business owner in ABQ. Follow me on instagram at @abqjasonrigby or Alexander McCaig on LinkedIn here also sign up for our email list here where I drop marketing secrets to help your ABQ Business!

Albuquerque Business Podcast
16 Hours on the Tram - How to Understand and Change Your Company's Culture Part 1

Albuquerque Business Podcast

Play Episode Listen Later Jan 13, 2022 18:19


We got into details of Tram incident, and also why Companies have Toxic Culture.  This is the ABQ Business Podcast with your host Jason Rigby and Alexander McCaig Each week we interview leading business leaders to inspire the vision and the spirit that is in every entrepreneur. We discuss strengths, weakness, strategies, systems and the problems we can all solve together to fulfill a shared vision of a new future for ABQ Business. Please go to www.abqpodcast.com where you can get show notes, resources, and links to everything we talked about today to help you navigate your journey as an entrepreneur and business owner in ABQ. Follow me on instagram at @abqjasonrigby or Alexander McCaig on LinkedIn here also sign up for our email list here where I drop marketing secrets to help your ABQ Business!

InnovaBuzz
Ellen Melko Moore, How to Dominate Your Target Market on LinkedIn - InnovaBuzz 487

InnovaBuzz

Play Episode Listen Later Jan 13, 2022 80:52


In this episode, I'm really excited to have as my guest, Ellen Melko Moore of SuperTight Social Selling. Ellen has done brand consulting work for Oprah Winfrey, The American Marketing Association, and the Zappos guys, and now creates and teaches LinkedIn social selling strategies for some of the top thought leaders in the digital marketing space. In our discussion, Ellen talked to me about: Using LinkedIn to test your target audience and message Instead of telling people what you can do for them, start to teach it The doorknob you put in people's hand…(story) Listen to the podcast to learn more. https://innovabiz.co/ellenmelkomoore (Show Notes and Blog) https://innovabiz.com.au/innovabuzz/ (The Podcasts)

Beauty and the Biz
Regrets, Guarantees & Social Media with Harvey Cole, III, MD (Ep.135)

Beauty and the Biz

Play Episode Listen Later Jan 13, 2022 60:57


Welcome to "Beauty and the Biz", where we talk about the business and marketing side of plastic surgery, and Regrets, Guarantees & Social Media. I'm your host, Catherine Maley, author of "Your aesthetic practice - What your patients are saying", and consultant to plastic surgeons to get them more patients and profits. LEARN MORE ➡️ https://bit.ly/3ykNLEa     ⬇️. ⬇️. ⬇️. Regrets, Guarantees & Social Media with Harvey Cole, III, MD I had the pleasure on interviewing Dr. Harvey “Chip” Cole, III, a Board-Certified Oculofacial plastic surgeon specializing in ophthalmology and cosmetic surgery of the eyes and face. Dr. Cole has been in private practice in Atlanta since 1994 so he's seen a lot and he openly shares his “Chip's Tips” with other surgeons when it comes to running and marketing a successful practice. For example, he was the first to use his adorable shar pei puppy in his facelift advertising efforts that made a huge impact on his brand and popularity. Listen in to this week's Beauty and the Biz episode where we talked about: ➡ His biggest mistake early on that he still regrets ➡ Offering a satisfaction guarantee (Yikes!) ➡ His take on social media and a whole lot more Visit Dr. Cole's website at www.oculusplasticsurgery.com If you want to talk more about your specific situation, just leave me a message at https://www.CatherineMaley.com, or DM me on Instagram at https://www.instagram.com/CatherineMaleyMBA.

The ABM Conversations Podcast - for B2B marketing professionals
How to stop chasing customers and build a cult? : Chris Kneeland

The ABM Conversations Podcast - for B2B marketing professionals

Play Episode Listen Later Jan 10, 2022 44:44


In this episode, Chris Kneeland, the CEO of Cult Collective, one of North America's premier engagement marketing firms, joins us to discuss 'How to stop chasing customers and build cults?" Chris co-founded Cult in 2010 and has consulted for Harley Davidson, Canadian Tyre, Zappos, Best Buy, United Way and dozens of other brands. In this episode, he talks about: --> What exactly is a cult? How can a startup realistically build it? --> Why should you stop chasing customers and build a cult in the first place? --> Why word of mouth doesn't always start from customers? And more importantly, why have 'brand advocacy' ahead of 'brand awareness?' --> What's the right stage of the business to start a cult? --> How do you measure progress while building a cult? ---> Why is Chris against the idea of consumption metrics and a lot more...

Culture Factor 2.0
Chantelle Marcelle: Owning Your Audience with Digital Real Estate & NFTs

Culture Factor 2.0

Play Episode Listen Later Jan 6, 2022 37:09