Ridge Wallet: Ridge Wallet CEO Sean Frank's Hot Takes After $100 Million+ In Sales

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🎧 This episode of the DTC pod was straight money-talk with Sean Frank, the “Einstein of eComm” and CEO of Ridge Wallet.

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Ridge helps its customers carry less and live more with minimalist wallets and other everyday essentials. Two Kickstarters, nine years, and over two million wallets later, Ridge surpassed the $50M mark in 2020 and shows no signs of slowing down.

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If you’re fascinated by financials, this is an episode you don’t want to miss…

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Get Sean’s scalding-hot takes on the current recession, his advice for brands and agencies to survive the eCom crash, why SPACs are scams, and much more.

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‍The Takeaways 👇

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📉 How to weather the eCom crash:

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You heard it here first: eCom is officially in a decline.

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For the last 20 years, eCommerce has grown at least 1% YOY (during Covid, the industry experienced unprecedented 30% growth). But not this year…

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This is probably no surprise to you if you’ve been following the markets, or even watched your own Q1 numbers roll in with disappointment. 😟

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So what can brands and eCom services do to weather the storm? A few tips from Sean:

• Be maniacal about protecting your bottom line. Do what you can to cut costs now before you’re forced into it.
• Trim the fat where you can. Renegotiate SaaS contracts, call your credit card companies to lower fees, and ask providers for better deals. Every penny adds up.
• Agencies: get incredibly good, incredibly fast. Align yourselves with the most premium brands possible, because as investor money dries up, only the best will survive.

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✍️ The most undervalued skill for CEOs:

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“No one tells you this at CEO school or whatever… but 90% of your job is just going to be writing s#*! down.”

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Sean is a firm believer that CEOs (especially at remote companies) need to cultivate the skill of written communication.

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“Being able to quickly and concisely get your point across in a way that everyone buys into is 100% a superpower — especially as the world gets more and more digital.”

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And he walks the talk! Just check out Sean’s Twitter for some solid word-spo.

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💰 What Sean would do with an extra $100K:

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A very large influencer deal.

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“These deals are very risky from a cash-flow perspective — it’s really hard to get a direct ROI on them..so if I had “free money” that’s what I would do, I’d be sponsoring very large influencers on a one-off basis.”

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