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"Ecommerce Tactics from Guilt Founder": "Guilt, for me, 2007 was my first ecommerce experience. Never went back to brick and mortar, really sort of stayed in ecommerce. But we took a lot of, I think, clever marketing tactics and approach back then that wouldn't necessarily apply today. So one tactic was the $25 give get referral. So if I invited the two of you the first time you actually spent money shopping on Guilt, if you became a member, I would get $25 for each one of you and you would get $25."
"Launching a New Business in the Digital Age: I mean, a lot I think back then is applicable today. So if you're starting a business that's doing something that's never been done before and you are pitching to partners who have to scratch their head and Understand, like, wait, what are you talking about? What is web three? What is the metaverse? What is an influencer? I mean, whatever it is that your company is all about, you have to educate the people that you're trying to convince."
"The Power of Networking: And for me, I get a crazy rush from cold calling."
"Diversity in Teams: So I think diversity within teams is super important. So diversity not only on the outside, but also in well, certainly in experience, but for us, we did this early on at Guilt, and then I used the same coach for Glam squad and even brought him into Allergan. If you take a personality test like a Myers Briggs, it's really important that not everybody has the same profile and thinks the same way. You don't want everyone 20 person team or ten person team. If 50% of the team members have the same profile, that's not good because that means people are thinking the same way. It's really important to have different perspectives. It's good to have some team members who love data and want to analyze every aspect of data they can possibly get, and that's really important. But then you also need some decisions to be driven by gut instinct."
"Importance of Urgency in Startups: And I think that in just about everything related to startups, whether it's fundraising, hiring people, selling products or services. Urgency is really important and I think if people feel like an opportunity is going to be available forever and there's nothing that really pushes them to pull the trigger, that's not know."
"Value of Business Development: So to that point, business development, relationships, deals were really important for all the businesses I've been a part of. So, for example, at Gilt, we had a BD team, and we did this to a much smaller scale at Glam Squad, where we would be for your entrepreneurs."
"Start-Up Success Factors: You need to have product market fit or product service fit, and Glam Squad had that."
"Innovative Marketing Strategies: So, for example, Glam Squad, we did a fun stunt in I forget what year it was. Maybe it was it 2014 or 2015 around Fashion Week in New York. Myself and a woman named Amanda Rosenberg, we took a meeting with Uber and said and it was the time where Uber was doing a lot of clever stunts in different cities. And so we said, could we pull off a stunt around Fashion Week where consumer could book an Uber and also maybe get their hair and or makeup done in the car on the way to a fashion show? Which is not really practical. You don't want a hot tool in a moving vehicle. But that's a partnership."
"Criteria for a Promising Startup: So first, what is the business? Is it in a category that we believe has potential that isn't too crowded? And is this company solving a problem or fulfilling a need in a unique way that is not being done by five other companies also doing something almost exactly the same? So it has to really have a differentiated approach then. Tell me about the team and the founders. Are they remarkable, extraordinary? Are they going to kill it and put in their blood, sweat and tears? Do they have track records of success?"
"Consumer Engagement Tactics: But my first instinct when someone tells me the name of a brand, I'm looking at their instagram, I'm looking at their website. If I can taste it, try it, feel it, smell it, put it on me in some way, shape or form, I want to do that right away."
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