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🎧 Our guest on the pod this week was Paul Singh, cofounder and Chief Revenue Officer of Bump Health, a company dedicated to serving moms before, during, and after pregnancy.
Bump is much more than eCommerce; they’re a collection of businesses that span consumer subscriptions (Bump Consumer), corporate wellness (Bump Wellness), DME & Telehealth (Bump Medical), life & property/casualty insurance (Bump Life), and growing.🤰
Here’s how they plan to own the business of baby bumps and achieve their goals of reaching 2M moms.
The Takeaways: 👇
📣 Time to think bigger
This episode was a real call to action for entrepreneurs to think bigger about their businesses.
“Not enough people across the DTC community are thinking big enough… Every company, DTC and otherwise, starts product-centric…
What I think is not discussed often enough across the DTC community is… then what? When and how do DTC entrepreneurs make the conscious shift from being product-centric to distribution-centric?”
Time to think big. Like Microsoft, Apple, and Amazon big.
“The future of DTC belongs to the companies that are ambitious enough to want to own the entire affinity group… In the worst-case scenario, those multiple business units do insulate you against various risks to the company; and in the best-case scenario, they all compound.”
🧑🤝🧑Hiring for big vision companies
Paul’s tip for hiring: Find the most relentlessly resourceful, most self-aware people possible. Skills can be taught, culture can’t.
And make sure to relentlessly align everyone around a larger vision.
“The people that can help you build these large ideas are motivated by large visions.”
Not sure what yours is yet? 🤔
“Just pick a North star – whether that’s a conversion rate, transaction number, revenue goal – and put it up on the wall.”
Bump’s vision started out as the words “$20M in 2020” written on a whiteboard that’s still in their office today (and, btw, they crushed that goal).
🚀 Speed > Capital
“Capital is not the differentiator that you think it is.”
According to Paul, speed is the only intellectual property and differentiator that DTC companies actually have.
“The reason we dominate our verticals is because we move faster in a given time period than anybody else.”
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