DTC POD - #352 - Building a Profitable Timeless Brand: 20 Years, 8 Figures, 100% Bootstrapped with Parker Thatch

Weekly Newsletter

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Subject: New Episode Alert: Building a Profitable Timeless Brand with Parker Thatch Hi there, We're excited to share our latest episode of the DTC POD with you! In this episode, hosts Blaine Bolus and Nik Sharma sit down with Irene Chen and Matthew Grenby, the husband and wife co-founders of Parker Thatch. Over the past 20 years, they've bootstrapped their business to 8 figures, navigating pivots, scaling challenges, and the evolution of ecommerce. Here are 5 key takeaways from the episode: 1. Timing is critical. Irene and Matthew started with an e-stationery business in the early 2000s before people were willing to pay for online services. Recognizing this, they pivoted to physical products which enabled them to grow. 2. Be flexible with your product offerings. When scaling their bag business became a bottleneck, Irene and Matthew experimented with new materials like leather to enable growth. Irene advises investing in versatile "grayish goods" to maintain flexibility. 3. Establish systems and boundaries. As the business grew, putting the right operational systems in place, like a 3PL provider, allowed the founders to focus on their core competencies - Irene on product and Matthew on tech and marketing. 4. Find your brand identity. Honing in on their core customer - the busy mom/grandmother who wants functional yet luxurious products - allowed Parker Thatch to make strategic decisions that resonated with their community. 5. Engage directly with your community. Parker Thatch connects with customers through weekly live streams on Instagram and YouTube called PTTV (Parker Thatch TV). Irene answers questions and shares new products, while Matthew monitors comments, enabling real-time interaction. Fun fact from the episode: Irene found the seamstress to make their very first bag at her local dry cleaners! She noticed the seamstress's fashion degree on the wall and asked if she could help make a pattern and sample. Building a business with your spouse has its challenges, but Irene and Matthew show how establishing clear boundaries, carving out separate areas of ownership, and trusting and respecting your partner enables a successful partnership. To hear the full story of how Parker Thatch became the brand it is today, check out the complete episode on your favorite podcast platform. And to see the latest from Parker Thatch, head to their website (parkerthatch.com) or tune into PTTV on Instagram or YouTube on Fridays. As always, we'd love to hear what you think. Drop us a line and let us know your favorite part of the episode. Until next time, The DTC POD Team

1️⃣ One Sentence Summary

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Here is a 10-word summary of the episode based on the provided transcript: Bootstrapped handbag business grew through pivots, systems, community-building.

🎞️ Clipfinder: Quotes, Hooks, & Timestamps

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Matthew Grenby 00:04:34 00:04:40

"Multidisciplinary Approach in Tech: So I've been trained as a graphic designer. I've been trained in computer science, I've been trained in humanities."

Matthew Grenby 00:05:32 00:05:45

"Early Days of E-commerce: So this was before companies really had any sort of online retail capability. If anything, if they had any website, they had an informational, just marketing website. We would build out their E commerce capability and sort of have all those positions for a year or so and then roll off so that they could take the reins from there."

Matthew Grenby 00:11:43 00:11:51

"Entrepreneurial Resilience: And I just think that that entrepreneurial resilience for the way to describe it is just absolutely critical."

Matthew Grenby 00:19:44 00:19:54

"Importance of Financial Discipline in Business: And it's just, I think a huge part of it is knowing the importance of paying attention to those numbers and then having the discipline of looking at them all the time so that you can manage them responsibly."

Matthew Grenby 00:21:34 00:21:50

"Embracing Humility and Resilience in Career Journey: 'Another message for my younger self would be it's almost humility in resilience because like Irene said, we. We had already put our multiple thousand hours in on our various careers and here we were now back at a position where we're leaning on each other heavily... And that's a humiliating experience, right where when you're, when you're used to like. Yeah, exactly. But I'm just saying that that's. You gotta be aware, you gotta be ready for that if you wanna do this journey.'"

Matthew Grenby 00:29:56 00:30:07

"Limitations of Service Businesses: Doesn't matter how hard you work, like, you gotta, you get up at three in the morning and you can only bake so many breads in a day. And that's all you can do. Right. So how do you expand? Well, I don't know."

Matthew Grenby 00:35:31 00:35:59

"Evolution of Digital Marketing Platforms": "I was just before this call, I looked it up because I remember it being called AdWords. This was like the year 2000, year 2002, when Google first released, you know, this is the thing. And it had never really worked for the type of product or the service offering we'd done, but we'd always sort of kept our feet in that world along the way. You know, suddenly now it's a Pinterest, now it's Instagram, now it's all these new shiny things came along the way and to, you know, our good fortune."

Matthew Grenby 00:36:53 00:37:01

"Scaling Investments in Digital Marketing: Look, I got to do this full time or I got to find a trusted hand that I can work with to do this. And then that's how we've really unlocked several levels of growth through that sort of call it a marketing system."

Matthew Grenby 00:38:15 00:38:32

"Shift to Purpose-Driven Business During Covid-19: And it just so happened that that's when lockdown happened soon after in Covid and we really sort of explored more of a purpose driven model for what we're doing. And of course it's still all a product, but that that product comes out of the purpose as opposed to being driven by the product."

Matthew Grenby 00:43:18 00:43:30

"Relationship Boundaries: The answer to that would be boundaries. So the other way that we've, that we've expressed that in the past is that we have separate areas, you know, of focus. And then that you guys carve out, you know, because like we said, for the longest time we've been doing everything right. So you have to take a quick accounting of all the things that need to be done and make sure there's sort of an equitable distribution."

🔑 7 Key Themes

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Here are 7 key themes discussed in the transcript, with 7 words or less for each theme: 1. Bootstrapping business to 8 figures over 20 years 2. Pivoting from e-stationery to handbags and accessories 3. Scaling by developing systems and outsourcing fulfillment 4. Identifying ideal customer: busy intergenerational women 5. Balancing personal and business as husband-wife founders 6. Leveraging founder-led content and community (PTTV) 7. Focusing on increasing PTTV reach in 2023

💬 Keywords

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Here are 30 topical keywords covered in the transcript, separated by commas: bootstrapping, eight figure business, business longevity, pivoting, product market fit, customization, monogramming, handbags, leather goods, home goods, stationery, scaling, systems, processes, inventory management, 3PL, direct marketing, community building, functional luxury, husband and wife founders, boundaries, skill sets, QVC-style live streaming, PTTV, social commerce, founder-led content, Instagram Live, YouTube, Parker Thatch, Irene Chen, Matthew Grenby

Interview Breakdown

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Here are the show notes from the podcast transcript, using the requested format and tone: Matt and Irene bootstrapped their business Parker Thatch to 8-figures over 20 years. In this episode, they discuss their entrepreneurial journey, hard-earned lessons, and tips for building a lasting brand. Today, they'll cover: - How they pivoted from stationary to handbags to scale the business - Why flexibility and systems are critical when growing a brand - The importance of focusing on your strengths and hiring experts - How they built a strong community around shared values - Advice for husband-wife founding teams on setting boundaries

DTC Pod Linkedin

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Here is a short and concise LinkedIn post about the episode release, matching the tone, style and format of the example provided: @Irene Chen and @Matthew Grenby bootstrapped @Parker Thatch to 8 figures over 20 years, and on this week's episode of DTC Pod, they share the pivots and lessons that got them there. Irene and Matt join @blaine to discuss how their business evolved from an idea for an email stationery service to a successful line of handbags and accessories. They dive into the importance of staying flexible and pivoting when needed, thinking about scalability early on, and finding the right product-market fit. Irene and Matt also share how they've balanced being a husband-wife founding team and aligned around each other's core competencies. Full episode here: [Spotify Link] #dtcpod #entrepreneurship #bootstrapping #productmarketfit #foundingteams #consumerproducts

📚 Timestamped overview

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00:00 "Parker Thatch Founders on DTC Pod"

05:28 Pioneering Early E-commerce Solutions

09:00 "Successful Business Pivots"

09:57 The Importance of Market Timing

15:07 Validating Product Market Fit

18:55 Fashion Insights: Cost and Margin Mastery

22:42 Early Business Flexibility & Testing

26:21 Matt's Decision to Stop Monogramming

28:20 Pivoting to New Materials

31:38 Reevaluating Hard Work's Impact

35:18 Adapting Marketing Strategies for Growth

37:52 Purpose-Driven Transformation Post-COVID

42:57 Boundaries in Relationships

45:03 Developing Skills for Business Success

46:58 Weekly Live Q&A Expansion

💼 LinkedIN - 6 Reasons Post

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Building a business without having a core purpose is the BIGGEST mistake a founder can make. Here are the top 6 lessons from the Parker Thatch founders on why having a purpose-driven model is critical to success: 1. Purpose drives product, not the other way around. As Matthew said, a fundamental shift happened when they started letting purpose drive product decisions rather than just focusing on the product itself. The product should come out of the purpose, not be the sole driver. 2. Connecting deeply with your community accelerates growth. Irene emphasized how they really started connecting with their amazing community during COVID, and that has propelled their growth. Having a purpose attracts people who resonate with your mission. 3. Boundaries are key in husband-wife founding teams. Matthew highlighted the importance of boundaries, having separate areas of focus, and trusting your partner to handle their responsibilities their own way. Purpose helps align those boundaries. 4. Hone skills at other companies before starting your own. Irene stressed the value of putting in years working for others to really develop your core skills and competencies. Then you can apply that expertise purposefully when building your own business. 5. Simplify by figuring out who your core customer is. Once Parker Thatch pinned down their ideal customer profile of busy women needing functional luxury, everything clicked and lined up with their purpose. Strategic decisions flow from there. 6. Engage directly with your community to strengthen bonds. Parker Thatch hosts weekly live Q&As on Instagram/YouTube to connect with customers, get feedback, and build community around their brand purpose. Those interactions are invaluable. TAKEAWAY: Define your purpose before anything else. Let that purpose inform your products and community. Leverage skills honed working for others. Simplify by identifying your core customer. Engage your community to crystallize your purpose. But please, pretty please, above ALL ELSE... Don't try to build a business without a guiding purpose.

❇️ Key topics and bullets

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Parker Thatch's Founding and Growth Story 1. Founders' Backgrounds and Meeting - Irene Chen's career path: Arthur Anderson, fashion in New York - Matthew Grenby's background: technology, design, humanities - Meeting in New York around 2000 2. Starting the Business - Initial idea: e-stationery service - Pivot to physical stationery due to customer demand - Building the business from Irene's parents' basement - Expanding to home goods with customized designs 3. Rebranding and Product Expansion - Changing company name from I Am Wa to Parker Thatch - Introducing the Mimi bag, their first handbag product - Working with a local dry cleaner to create the bag pattern - Selling the bag through direct channels and gift guides 4. Scaling the Business - Shifting away from manual monogramming to streamline production - Expanding into leather goods based on advice from Katie Spade - Developing systems and processes to support growth - Partnering with a 3PL for inventory management and fulfillment 5. Marketing and Community Building - Leveraging relationships with magazine editors for gift guide features - Investing in performance marketing on platforms like Google and Meta - Focusing on purpose-driven marketing and founder-led content - Building a strong, engaged community of busy women across generations 6. Working as a Husband and Wife Team - Establishing clear boundaries and separate areas of focus - Leveraging individual skill sets: Matthew on tech and marketing, Irene on product - Learning to trust and respect each other's work and decision-making 7. Future Plans and Focuses - Growing the PTTV (Parker Thatch TV) community on Instagram and YouTube - Continuing to expand the brand's reach and customer base - Maintaining a focus on functional luxury products for busy individuals

🎬 Reel script

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Here's a 30 second voiceover script summarizing the interview with Irene Chen and Matthew Grenby, co-founders of Parker Thatch: Over the past 20 years, Irene Chen and Matthew Grenby bootstrapped their luxury goods brand Parker Thatch to 8-figures. Starting with monogrammed bags, they evolved to a full line of functional yet luxurious products for busy women. The husband and wife team leveraged their unique skill sets, Irene's fashion background and Matthew's tech expertise, to scale the business. Core to their success was building systems, focusing on direct-to-consumer, and fostering a highly engaged community. Irene and Matthew's entrepreneurial journey shows the power of passion, resilience and complementary co-founders.

✏️ Custom Newsletter

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Subject: New Episode Alert! Irene Chen & Matthew Grenby of Parker Thatch Share Their Journey Hey there! We've got an exciting new episode of the DTC Pod for you today, featuring the amazing husband and wife duo behind the brand Parker Thatch. Irene Chen and Matthew Grenby take us through their incredible 20-year journey of bootstrapping their business to 8 figures. Here are 5 key takeaways you'll learn from this episode: 1. The importance of pivoting when the timing isn't right for your original product idea 2. How to be scrappy and resourceful when validating product-market fit 3. The value in focusing on your core competencies and building systems to scale 4. Why defining your ideal customer is critical for brand identity and decision-making 5. Tips for successfully working with your spouse as a co-founder Fun Fact: Did you know Irene and Matthew's first bag, the Mimi bag that launched their handbag line, was made with the help of Irene's dry cleaner who happened to have a fashion degree? Talk about being resourceful! This episode is packed with so many insights and stories that any founder or operator can learn from, whether you're just starting out or looking to take your established business to the next level. So go check out the full episode on our website or your favorite podcast app. And when you're done, let us know what you thought! Drop a comment on our Instagram or shoot us an email. We'd love to hear from you. Until next time, The DTC Pod Team

🐦 Business Lesson Tweet Thread

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Here's a narrative-style tweet thread focused on key topics and learnings from the Parker Thatch founder interview transcript: Ever wonder what it takes to bootstrap a consumer brand to 8-figures over 20+ years? Irene Chen and Matthew Grenby, founders of @ParkerThatch, shared their story on the @DTCPod. A few gems… 🧵 First, they started as an e-stationery business in the early 2000s. But the market wasn't ready to pay for the service. Instead of giving up, they pivoted to selling physical paper goods and home products using their existing designs. Resilience is key! As they expanded to handbags, a key learning was using flexible base materials like canvas and neutral colors. This allowed them to be creative and adapt products as needed without overcommitting capital. Smart move for inventory management. A major unlock was moving away from customized products to focus on scalable systems and processes. As Matt put it, "you want to work ON your business, not IN your business." Words to live by as you grow. With strong operational foundations, they turned to performance marketing channels to accelerate growth. But equally important was identifying a clear brand identity around "functional luxury" for busy customers. This strategic lens informed all decisions. Finally, some wisdom on husband-wife founder duos: - Establish clear boundaries and swim lanes - Have full faith and trust in each other - Be okay with different working styles Hope this inspires you on your own founder journey! Check out the full ep for more.

🎓 Lessons Learned

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Here are 10 key lessons covered in the podcast episode, with a 5 word max title and 20 word max description for each: 1. Title: Pivoting When Necessary Description: Adapt your business when the market timing isn't right or your approach isn't working. 2. Title: Bootstrapping to Eight Figures Description: Parker Thatch grew to an 8-figure business over 20 years by being strategic with resources. 3. Title: Leveraging Backgrounds and Skills Description: Irene and Matt used their prior career experience to inform their entrepreneurial journey. 4. Title: Focusing on Key Products Description: Zeroing in on their hero product, the Mimi bag, helped drive the business forward. 5. Title: Investing in Scalable Systems Description: Implementing processes, 3PL, and other systems allowed the business to grow beyond its constraints. 6. Title: Shifting to Purpose-Driven Description: Parker Thatch evolved to a mission-focused brand, resonating with a strong community of customers. 7. Title: Finding Your Core Customer Description: Identifying busy women seeking functional luxury as their target helped guide business decisions. 8. Title: Establishing Co-Founder Boundaries Description: Clearly dividing responsibilities based on each other's strengths is key for spousal co-founders. 9. Title: Engaging Directly with Community Description: PTTV allows Irene and Matt to connect with their audience weekly on Instagram/YouTube. 10. Title: Persevering Through Challenges Description: Resilience and consistency are essential when obstacles arise in the entrepreneurial journey.

💎 Maxims

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Here is a list of maxims to live by based on the concepts explored in the podcast recording with Irene Chen and Matthew Grenby, founders of Parker Thatch: 1. Be open to pivoting your business when the market timing or product-market fit isn't right. Adapt rather than stubbornly sticking to your initial idea. 2. Bootstrap your business and focus on profitability and sustainability, especially in the early stages. 3. Leverage your unique skills and backgrounds to divide responsibilities with your co-founder(s). Respect each other's domains of expertise. 4. Be scrappy and resourceful when starting out - find creative ways to get your initial product made without large upfront investments. 5. Invest in building strong relationships with editors and influencers to get organic exposure for your brand and products. 6. When scaling, proactively put operational systems and processes in place before you desperately need them. Work on your business, not just in your business. 7. Make strategic inventory decisions, like using base materials that provide flexibility. Avoid overcommitting capital to products that may not sell. 8. Clearly define your target customer and brand identity. Let this inform your product, marketing and operational decisions. 9. Nurture an engaged community around your brand. Connect with them directly and consistently provide value. 10. As husband-wife founders, establish clear boundaries and divisions of responsibilities. Trust and support each other's unique working styles. 11. Never stop learning and honing your skills, both before and while running your own business. Your collective knowledge and experience is your greatest asset.

🌟 3 Fun Facts

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Here are 3 fun facts from the transcript: 1. Irene Chen had their first bag made by a dry cleaner who had a degree from the San Francisco Fashion School. 2. Matt Grenby spent 10 years heat-pressing and monogramming bags one by one before they scaled the business. 3. Parker Thatch hosts a weekly live show called PTTV on Instagram and YouTube where Irene answers questions and showcases products, while Matt monitors comments behind the scenes.

📓 Blog Post

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Here is a 600 word blog post based on the topics discussed in the podcast episode transcript you provided: Title: Bootstrapping an 8-Figure Business: Lessons from Parker Thatch's 20-Year Journey Subheader: Co-founders Irene Chen and Matthew Grenby share insights on pivoting, scaling, and building a successful brand Section 1: Finding Product-Market Fit Through Pivoting In the early 2000s, Irene Chen and Matthew Grenby set out to create an e-stationery business, allowing customers to send beautifully designed digital notes. However, they quickly realized the market wasn't ready to pay for such a service. Rather than giving up, they pivoted to physical stationery and home goods featuring their designs. This willingness to adapt based on market demand laid the foundation for their success. As Irene noted, "It's all about connecting dots." The skills and experiences they gained in previous roles, from spreadsheet modeling to product development, proved invaluable as they navigated the challenges of entrepreneurship. Section 2: Overcoming Bottlenecks to Enable Scaling As Parker Thatch grew, Irene and Matt faced a critical bottleneck: the time-consuming process of customizing and monogramming each bag by hand. Matt realized this was unsustainable and limited their ability to scale. "There's always a bottleneck, no matter how great your business is," Matt reflected. "It's about identifying those bottlenecks and having the discipline to look at them responsibly." By streamlining their offerings and partnering with a trusted manufacturer, they were able to increase production capacity while maintaining quality - a crucial step in growing the business. As Matt wisely advised, "You want to work on your business, not in your business." Section 3: Investing in Systems and Marketing to Drive Growth With strong fundamentals in place, Parker Thatch was poised for significant growth. Matt turned his attention to implementing key systems like a 3PL provider for fulfillment. This freed up his time to focus on customer acquisition through digital marketing channels. "Now that we have the capacity to scale, we have to get customers coming through the door," Matt explained. By working closely with internal teams at Facebook and Google, while also leveraging an external marketing expert, Parker Thatch was able to dramatically expand their customer base. Section 4: Building a Resilient Brand Through Purpose and Community Perhaps the most important factor in Parker Thatch's longevity has been Irene and Matt's commitment to building a mission-driven, customer-centric brand. Irene's authentic personality and content resonates strongly with their "functional luxury" positioning. "It's just this amazing community that we're really connected to," Irene shared. "Everyone's really busy - our products are functional and luxurious to make their lives easier." By hosting weekly live streams on YouTube and Instagram, Irene and Matt stay engaged with their loyal community. Customers can ask product questions, learn about new releases, and get to know the founders. This consistent, value-adding touchpoint has become a key driver of the brand's growth and success. Over the past 20 years, Irene Chen and Matthew Grenby have weathered many challenges in scaling Parker Thatch to an 8-figure business. By pivoting based on market signals, proactively alleviating bottlenecks, implementing key systems, and always putting their customers first, they've built a resilient brand that's poised for enduring success. Fellow entrepreneurs can learn much from studying their inspiring journey.

🎤 Voiceover Script

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From bootstrapping stationary to creating a successful luxury handbag brand, Irene Chen and Matthew Grenby of Parker Thatch share their incredible journey. In this episode, you'll discover: - How they pivoted their business model to find the right product-market fit - The importance of building scalable systems to support growth - Strategies for managing inventory and cash flow as a bootstrapped company - Tips for building a strong brand identity and engaged customer community Tune in to learn how this husband and wife duo navigated the challenges of entrepreneurship, leveraged their unique skill sets, and grew their business to eight figures over 20 years.

🔘 Best Practices Guide

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Best Practices for Building a Successful Consumer Brand 1. Be flexible and open to pivoting when needed. Adapt your products or business model based on market demand and feedback. 2. Focus on your core competencies and outsource or automate other tasks to scale efficiently. 3. Establish systems and processes early on to support growth and maintain consistency. 4. Invest in building a strong community around your brand, engaging with customers through various channels like social media and live events. 5. Clearly define your target audience and brand identity to guide strategic decision-making. 6. Foster trust, respect, and clear boundaries when working with a co-founder or business partner. 7. Leverage your unique skills and experiences to differentiate your brand and create value for customers. 8. Prioritize cash flow management and profitability, especially when bootstrapping your business. 9. Continuously test and refine your marketing strategies to drive demand and acquire new customers.

🎆 Social Carousel: Do's/Don'ts

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Here is a 10 slide LinkedIn carousel based on tips from the episode transcript: Cover slide: 10 Lessons from Bootstrapping an 8-Figure Brand Slide 1: Don't: Ignore Timing Do: Find the right confluence of timing, product and market Slide 2: Don't: Ride a Failing Idea Do: Be resilient and pivot when the timing isn't right Slide 3: Don't: Overcomplicate Naming Do: Choose a brand name people can easily spell and remember Slide 4: Don't: Over-Invest in Obscure SKUs Do: Focus your initial product line on basics that will sell Slide 5: Don't: Grow Without Systems Do: Put scalable systems in place before rapidly expanding Slide 6: Don't: Operate Without Boundaries Do: Establish clear roles and trust your co-founder's expertise Slide 7: Don't: Sacrifice Product For Hard Work Do: Work smarter, not just harder, by leveraging your core competencies Slide 8: Don't: Ignore Your Numbers Do: Constantly monitor your margins and make data-driven decisions Slide 9: Don't: Rely on Product Alone Do: Build a purpose-driven brand that creates community Slide 10: Don't: Give Up Too Early Do: Stay consistent in your vision - the breakthroughs will come

🎠 Social Carousel

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Here is a 10-slide LinkedIn/Instagram carousel featuring specific maxims learned in the episode: Cover Slide: 10 Tips Every Entrepreneur Needs to Know From Irene Chen & Matthew Grenby, Co-Founders of Parker Thatch Slide 1: Pivot When Necessary If the timing isn't right, pivot rather than ride the plane down. Entrepreneurial resilience is key. Slide 2: Think Scalability Work on your business, not just in your business. Strive to build scalable systems. Slide 3: Invest in Neutrals When starting out, invest in neutral, flexible materials and colors to mitigate inventory risk. Slide 4: Tap Your Skills Identify and leverage the unique skill sets each founder brings to the business. Slide 5: Build Systems Early Anticipate scaling and implement key business systems before you need them. Be proactive, not reactive. Slide 6: Define Your Customer Pinpoint your ideal customer profile. Let this inform product, marketing and brand decisions. Slide 7: Embrace Bootstrapping Constraints breed creativity. Bootstrap and be scrappy to get farther with limited resources. Slide 8: Set Clear Boundaries For spouse co-founders, establish clear boundaries, divisions of responsibilities, and mutual trust and respect. Slide 9: Foster Community Build deep connections with your customer community. Consider live video content to engage them directly. Slide 10: Learn More Watch the full episode with Irene & Matthew to hear their 20+ year entrepreneurial journey. Link in bio.

One Off Tweets

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Here are 10 unique short tweets based on ideas from the podcast transcript: Flexibility is key in entrepreneurship. When things aren't scaling, don't be afraid to pivot. Find new ways to apply your skills and creativity. Market timing can make or break your business. An idea may be great, but if consumers aren't ready, it won't fly. Stay perceptive and keep your finger on the pulse. Bootstrapping teaches you to be resourceful. Tap into your network, get crafty, and make the most of what you have. Scrappiness is a valuable entrepreneurial trait. To scale, you need to implement systems. Working harder isn't always smarter. Focus on building processes that let you work on your business, not just in it. Simplicity is elusive but powerful. Distilling your brand identity takes time and iteration. When you find it, everything clicks into place. In business partnerships, establish clear boundaries. Play to each other's strengths and trust your partner's expertise. Carve out distinct roles to collaborate effectively. Consistency is key when building a brand. Don't give up too soon - breakthroughs take time. Believe in your vision and keep showing up every day. Engage directly with your community. Forge personal connections through live Q&As and real-time interaction. Put a face to your brand and cultivate relationships. Know your numbers inside and out. Margins, costs, and allocation - a strong grasp of financials is a must. Make data-driven decisions to fuel sustainable growth. Entrepreneurship requires humility and resilience. Be ready to roll up your sleeves and do unglamorous work. Success takes grit and a willingness to start from square one.

Twitter Post 1

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Matt monogrammed bags for 10 years straight. On a heat press late into the night to fulfill orders. That's dedication to bootstrapping a business!

Mindsets

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If you're looking to build a successful business, here are some mindset shifts from Irene Chen and Matthew Grenby of Parker Thatch that can help guide your journey: 💭 Embrace flexibility and be open to pivoting when necessary. Irene and Matt started with an email stationery business but adapted to sell physical products when the market wasn't ready for their original idea. Recognizing when it's time to change course can make all the difference. 💭 Focus on developing systems and processes to enable scalability. In the early days, Matt spent countless hours manually monogramming bags. By investing in the right partners and infrastructure, they were able to grow beyond what their own individual capacities allowed. Think about how to optimize your operations to support your vision. 💭 Let your purpose and mission drive your business decisions. As Parker Thatch evolved, Irene and Matt shifted from being product-driven to purpose-driven, especially during the challenging times of the pandemic. Anchoring your brand in a strong sense of identity and values creates a foundation for meaningful growth and connection with your community. To hear more insights and advice from Irene Chen and Matthew Grenby, check out their full episode on the DTC Pod!

Tactics

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Here are 5 specific tactics and strategies for improving your business based on the insights shared by Irene Chen and Matthew Grenby, co-founders of Parker Thatch, in their DTC Pod interview: 🎯 Embrace pivots when your original idea isn't working. Irene and Matthew started with an e-stationery concept that didn't gain traction, so they listened to customer feedback and shifted to selling physical stationery and home goods instead. This willingness to adapt ultimately led them to their successful handbag business. 🎯 Be scrappy and resourceful, especially when starting out. Irene found someone to help make their first handbag pattern at her local dry cleaner's. The couple bought fabric with coupons to keep costs down. Tap into your network and get creative to bring your ideas to life without huge upfront investments. 🎯 Invest in systems and processes to support your growth. After 10 years of manually customizing and fulfilling orders, Matthew realized they needed to free up their time to scale. Hiring a 3PL and bringing in key people to handle different aspects of the business allowed Irene and Matthew to focus on their core competencies. [00:33:21] 🎯 Let your purpose and mission drive your marketing. When the pandemic hit, Irene and Matthew shifted from a product-driven approach to one centered around their brand story and Irene's personality. This attracted a highly engaged community and boosted their direct-to-consumer sales. [00:38:52] 🎯 Set clear boundaries with your co-founder, especially if you're a couple. Irene and Matthew split responsibilities based on their pre-existing skill sets - Irene handles product while Matthew focuses on tech, business, and marketing. They trust each other to make decisions in their respective domains. Having separate areas of ownership is key to a healthy co-founder relationship. [00:45:03]

In Depth Thread

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Here's a post leveraging the strategy described in the podcast recording, matching the tone, style, and format of the provided example: Overrated: Trying to do everything yourself as a founder. Bootstrapping is admirable, but sometimes you need to focus on your core competencies and let others help. Underrated: Developing systems and processes early. As Irene and Matt from Parker Thatch shared, having the right systems in place allows you to scale effectively. 3 Key Takeaways 1. Identify bottlenecks holding back growth 2. Build systems to address them 3. Keep evolving as you scale Bottlenecks In the early days, Matt was spending hours each day heat pressing and monogramming bags himself. [00:33:21] This was limiting their ability to grow, even though monogramming was their core offering. Identify similar bottlenecks in your own business that may be restricting your scaling potential. Systemize Parker Thatch focused on developing processes to take products from inception to delivery efficiently. [00:34:03] This meant bringing in the right partners and clearly defining roles. Document your key processes and determine who should own each part of the system. Evolve As you scale, keep optimizing systems and adapting to new stages of growth. For Parker Thatch, this meant moving to a 3PL provider for fulfillment once they had sufficient volume. [00:36:11] Regularly audit your systems to ensure they still serve you as the business expands. Skillsets Both Irene and Matt developed deep expertise in their respective domains before starting Parker Thatch together. [00:45:39] She handles product, he owns tech/marketing. Clear swim lanes. Assess founder competencies and hire to complement gaps as you systematize and scale. Boundaries As a husband/wife founding team, establishing boundaries is key. [00:43:31] Trust your partner to handle their part and avoid micromanaging, even if their way is different. Whether co-founders are married or not, clear responsibilities and mutual respect are a must.

New Idea

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Idea #1: Embrace a Scrappy Mindset As a bootstrapped business, embrace a scrappy, resourceful approach to problem-solving: 1. Leverage Existing Skills: Draw upon the unique skill sets each founder brings to the table. Irene's fashion industry experience and Matt's tech background allowed them to divide and conquer in the early days of Parker Thatch. (Irene: "Matt and I both had very strong skill sets coming into what we were doing.") 2. Get Creative with Resources: When finances are tight, find innovative ways to bring your vision to life. Irene worked with a talented employee at her dry cleaner to create their first bag pattern using fabric from Joann's. (Irene: "I noticed at my dry cleaner that this girl was really good at having my pants. And I was like, maybe I could go to her and ask her to help me make a pattern.") 3. Wear Many Hats: In the early stages, founders often need to handle a wide range of tasks themselves. Matt and Irene tackled everything from product design to shipping and fulfillment. (Matt: "We're doing everything right, but 10 years I'm on literally on a heat press, monogramming bags, right. So all at hours a day until late in that night to get orders out.")

Tweet thread on learnings

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Here is a tweet thread expanding on the key takeaway of consistency and longevity from the podcast interview with Parker Thatch cofounders Irene Chen and Matthew Grenby: Tweet 1: Incredible convo with @ireneychen and @matthewgrenby, founders of @ParkerThatch, an 8-figure bootstrapped business celebrating 20 years! 🎉 My biggest takeaway on what it takes to build a brand that lasts: 🧵👇 Tweet 2: 1. Have the resilience to pivot when needed Parker Thatch started as an e-stationery service in the early 2000s. When timing wasn't right, they pivoted to physical products. Knowing when to evolve your biz model is key to longevity. Tweet 3: 2. Let constraints drive creativity With limited resources early on, Irene sourced a local seamstress to make their first Mimi bag. Constraints force you to be scrappy and find unique solutions to build your brand. Tweet 4: 3. Establish strong fundamentals before scaling After 10 years of manual customization, Matt pushed to systematize the business to enable growth. Having your operations and supply chain buttoned up is critical before pouring fuel on the fire. Tweet 5: 4. Find your north star in challenging times Amid personal tragedy and the pandemic, Irene and Matt re-centered Parker Thatch around a mission of positivity and community. Purpose becomes the guiding light that pulls you through adversity. Tweet 6: 5. Continuously learn and upskill Irene emphasized how her past corporate experience provided invaluable skills she still uses today. No matter how long you've been in business, always be growing and sharpening your toolkit. Tweet 7: 6. Play to each other's strengths As a husband-wife duo, Irene and Matt have clear boundaries around their respective domains. Carving out swim lanes and trusting your partner is essential for any founding team. Tweet 8: 20 years in and @ParkerThatch is still innovating, most recently with their weekly #PTTV live streams on YouTube/IG. 📺 It's a testament to their ability to evolve with the times while staying true to their brand DNA. Congrats @ireneychen and @matthewgrenby on an incredible journey! 🙌

LinkedIN - Start from Scratch

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Here's my take on a LinkedIn post summarizing the key lessons from the Parker Thatch founders interview, modeled after the example provided: Building an 8-figure DTC brand is a marathon, not a sprint. Here are 3 key lessons from Parker Thatch co-founders Irene Chen and Matthew Grenby, who bootstrapped their business over 20+ years: 1. Be scrappy and adapt when things don't work When their initial eStationery idea fell flat, Irene and Matt pivoted to physical stationery and homegoods. Finding product-market fit requires experimentation and iteration. 2. Systematize to scale For 10 years, Matt manually monogrammed bags on a heat press, limiting their growth. Shifting to a scalable production model and leveraging 3PLs enabled Parker Thatch to reach the next level. Work ON your business, not just IN it. 3. Build an authentic community Parker Thatch really took off during COVID by fostering a tight-knit community around Irene's personality and their brand mission. Weekly live streams on PTTV directly connect them with their "busy professional" customer base in an engaging way. The biggest lesson? Stay focused on providing real value to your target customers. It took Parker Thatch years of grinding to find their sweet spot at the intersection of function and luxury. But by staying true to their vision, capabilities, and community, they've achieved sustainable 8-figure success. What's the most important thing you've learned on your founder journey? Let me know in the comments. -- Check out the full interview with Irene and Matt here: [link to podcast episode] And follow @dtcpod for more actionable insights from top DTC founders and operators.

Future State, 6 reasons post

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Based on the conversation between Blaine Bolus, Irene Chen, and Matthew Grenby, here's a post that follows the desired format: In 20 years, Parker Thatch has built an 8-figure business through consistent adaptability, a laser focus on core competencies, and strategic systems thinking. As DTC founders, Irene and Matthew have cracked the code on building a thriving, community-driven brand. But many DTC brands are missing a HUGE opportunity. Here are 6 recommendations that, if applied, can unlock sustainable growth and profitability: BACKGROUND: Forget chasing shiny objects, the future belongs to brands that master the fundamentals of building a resilient business. Parker Thatch exemplifies how staying true to your strengths while pivoting when needed is the key to longevity. If more DTC brands pay attention, they can transform into adaptable, systems-driven companies that not only generate demand but also operate efficiently to drive real profitability. Previous State: - Overextended doing non-core activities - Constrained by lack of scalable systems - Unclear brand identity and target customer - Growth limited by operational bottlenecks Better Future State: - Laser-focused on core competencies - Streamlined systems to enable scaling - Crisp brand positioning resonating with ICP - Unconstrained growth through operational excellence At Parker Thatch, they unlocked new levels of growth by shedding activities holding them back, implementing the right operational systems, and crystallizing their brand identity. It's hard to replicate this success by just playing the DTC playbook. HOWEVER... It takes discipline and strategic thinking to make this work. DTC founders should consider implementing a few key practices to build brands that stand the test of time. Here are my 6 recommendations: 1. Identify your core competencies early on. Double down on what you and your team are uniquely great at. Shed or outsource the rest. 2. Implement scalable systems before you need them. Don't wait until growth is constrained to put the right processes in place. Think ahead. 3. Invest in truly understanding your ideal customer profile (ICP). Go beyond surface-level personas. Intimately understand their needs, desires and what resonates. 4. Prioritize flexibility, especially with inventory. Adopt strategies like grayish goods that give you more optionality. Avoid overcommitting to SKUs. 5. Cultivate an engaged community around your brand. Go beyond transactional relationships. Foster real connections through things like live video shopping. 6. Constantly look for opportunities to simplify. From messaging to operations, strive for simplicity. It's hard to find but worth pursuing. I believe any DTC brand that applies these fundamentals with consistency and discipline can build something remarkable. The DTC landscape is littered with cautionary tales of flash-in-the-pan successes. But it doesn't have to be that way. As the world continues to change at a dizzying pace, the brands that will endure are the ones with strong foundations—just like Parker Thatch has built over the last 20 years. I'm curious to hear your thoughts! What do you believe are the keys to building a lasting, thriving DTC brand? Have you seen other examples of brands that have unlocked growth by nailing the fundamentals?

About the Episode

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Irene Chen and Matthew Grenby are the husband-and-wife co-founders of Parker Thatch, a luxury handbag and accessories brand they bootstrapped into an eight-figure business over the course of 20 years. Irene brings a background in fashion product development from working at Donna Karan and Calvin Klein, while Matthew has experience in tech startups and e-commerce. In this episode of DTC Pod, Irene and Matthew share insights from their entrepreneurial journey, including the importance of staying flexible and pivoting when necessary. They discuss how they scaled the business by streamlining production, implementing systems, and focusing on direct-to-consumer sales. The co-founders emphasize the value of investing in community-building, especially through their weekly live show PTTV on Instagram and YouTube, where they connect directly with customers. They also touch on strategies for husband-and-wife founding teams, such as establishing clear boundaries and leveraging each other's complementary skill sets. Looking ahead, Irene and Matthew are focused on continuing to grow their community and bring more people into the Parker Thatch brand experience in 2023 and beyond. By sharing their story, they hope to inspire other entrepreneurs to pursue their passions with patience, resilience and a commitment to building authentic customer relationships.

Episode Summary

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Irene Chen and Matthew Grenby are the co-founders of Parker Thatch, a luxury handbag and accessories brand they bootstrapped to 8-figures over 20 years. Their complementary skill sets in fashion design, technology, and business enabled them to navigate the evolving e-commerce landscape. In this episode of DTC Pod, Irene and Matthew share their entrepreneurial journey of pivoting from e-stationery to physical products, scaling thoughtfully by implementing systems, and building a purpose-driven brand. They discuss key lessons such as the importance of timing, investing in neutral inventory for flexibility, focusing on core competencies, and fostering community through initiatives like their weekly live show, PTTV.

Success Strategies

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Here are 3 strategies for DTC success based on the guests Irene Chen and Matthew Grenby of Parker Thatch: 1. Be flexible and willing to pivot when necessary As Irene and Matt discovered, being open to pivoting your business model can lead to new opportunities for growth. When their initial e-stationery idea didn't gain traction, they listened to customer feedback and transitioned to physical stationery and home goods. Later, they pivoted again to focus on handbags, which became their flagship product. Embracing change and being willing to adapt your offerings based on market demand is crucial for long-term success. Don't be afraid to let go of ideas that aren't working and pursue new avenues that show promise. 2. Invest time in developing systems and processes As your DTC business grows, it's essential to create scalable systems and processes to support that growth. Matt emphasized the importance of working "on" your business rather than just "in" it. By dedicating time to establishing efficient workflows, such as partnering with a 3PL for fulfillment or implementing marketing automation, you can free up your own time to focus on strategic initiatives. Irene and Matt's decision to streamline their monogramming process allowed them to scale their handbag production and expand their product line. 3. Foster a strong sense of community around your brand Irene and Matt have cultivated a thriving community of engaged customers who resonate with Parker Thatch's brand identity and mission. They've done this by consistently connecting with their audience through channels like their weekly PTTV live streams. By regularly interacting with your customers, soliciting their feedback, and showcasing your brand's personality, you can build a loyal following that will support your business for years to come. Focus on creating content and experiences that resonate with your target audience and make them feel like valued members of your brand community.

Success Strategies v2

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Here are 3 strategies for DTC success based on the insights shared by Irene Chen and Matthew Grenby from Parker Thatch: 1. Bootstrap your way to sustainability Looking to build a DTC brand that stands the test of time? Take a page out of Irene and Matthew's playbook and focus on bootstrapping your way to profitability. As the Parker Thatch co-founders shared, they've been able to grow their business to 8 figures over 20 years by staying disciplined with their finances and avoiding unnecessary risk. Some key takeaways: Invest your own resources to maintain full control over the business Keep a close eye on costs, margins, and cash flow to ensure you're always operating sustainably Be willing to put in the hard work yourself, from packing orders to building spreadsheets Adapt quickly when something's not working, like their pivot from customized e-stationery to physical products By bootstrapping, you give yourself the freedom to build your business on your own terms, without the pressure of outside investors or debt. It may require more patience and hard work upfront, but it sets you up for long-term success. 2. Play to your strengths as co-founders Think you need to do it all yourself as a founder? Think again. As Irene and Matthew demonstrate, sometimes the key to success is knowing how to divide and conquer as a team. With Irene's background in fashion and product development and Matthew's expertise in tech and marketing, the husband-wife duo has been able to successfully scale Parker Thatch by leaning into their individual strengths. Some suggestions for making it work: Establish clear boundaries and swim lanes based on each founder's core competencies Trust and empower each other to make decisions independently Embrace your different working styles and resist micromanaging Prioritize consistent communication to stay aligned on big-picture goals By focusing on your respective zones of genius, you can move faster, make better decisions, and unlock new opportunities for growth. Plus, you might just maintain a healthier relationship with your co-founder along the way. 3. Build your business around your ICP It's easy to get caught up in creating products you think are cool. But as Irene and Matthew learned, sometimes the key to finding product-market fit is getting crystal clear on who you're actually trying to serve. For Parker Thatch, that meant honing in on a target customer they call the "busy yet luxurious woman." Someone who values functional, high-quality products that make her life easier without compromising on style. Some ways to apply this in your own business: Develop a detailed ideal customer profile (ICP) that goes beyond simple demographics Validate your product ideas with real input and feedback from your target audience Ensure every aspect of your brand experience, from your website to your customer service, is tailored to your ICP's needs and preferences Continuously engage with your best customers to gather insights and inform your product roadmap By building your business around a specific, well-defined target customer, you can more easily develop products that truly resonate, craft marketing messages that actually convert, and build a loyal community of brand advocates who will stick with you for the long haul.

Castmagic LinkedIn Post

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Here is the LinkedIn post for the episode release following the format and style of the examples: Bootstrapping to 8 figures? It's possible with the right strategy. In this episode of DTC Pod, Blaine Bolus is joined by Irene Chen and Matthew Grenby, co-founders of Parker Thatch - a handbag and accessories brand they bootstrapped to 8-figure success over the past 20 years. Irene and Matthew share their journey of pivoting from a stationery business to scaling a handbag brand through magazine gifting, functional luxury positioning, and building a highly engaged community. We dig into key lessons on being scrappy, focusing on scalable systems, letting data inform product decisions, and establishing boundaries as a husband-wife founding team. Listen to the full episode here: [link] #bootstrapping #dtc #ecommerce #accessories #shopify

IG Reel Vids

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Irene Chen and Matthew Grenby bootstrapped their luxury goods company Parker Thatch to 8 figures over the past 20 years. It started with stationery and monogrammed handbags made one-by-one on a heat press. Seeking to scale, they implemented systems and expanded into leather bags. Matt focused his freed up time on performance marketing to drive more customers. The brand pivoted from product-led to purpose-driven growth, building a strong community around Irene's personality. PTTV, their weekly Instagram live show, allows them to showcase products and directly engage with their audience of busy intergenerational women seeking functional yet luxurious goods. Smart decisions around inventory, outsourcing and boundaries as a husband-wife founding team enabled Parker Thatch's impressive long-term success.

IG Video

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Here is a 30-60 second video script in the style and format of the example, using the transcript as the source material: This bag company has surpassed 8 figures in revenue and you may not have even heard of them. The company is called Parker Thatch and it was started by husband and wife duo Matt Grenby and Irene Chen. Their goal was to create functional, luxurious products for busy women. In the late 2000s, Irene had an idea to make a monogrammed bag with a stripe on it. With limited resources, she went to her local dry cleaner and asked an employee there to help make the first prototype. This bag became their signature Mimi bag and catapulted the business forward. Parker Thatch's success is a testament to the power of being scrappy, following product market fit, and focusing on your core customer. Irene and Matt bootstrapped the business by staying disciplined, keeping costs low, and reinvesting profits to drive growth.

📢 Short VO

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Here is a short intro based on the context of the recording, matching the tone, style and format of the given example: Building a brand that lasts takes resilience and a willingness to pivot. Let me explain. I recently had Irene Chen and Matthew Grenby, co-founders of Parker Thatch, on the podcast. They bootstrapped their business to 8-figures over 20 years, starting from an idea for an email stationery service in the early 2000s. In the episode, Irene and Matthew share how they evolved their product offerings from stationery to home goods to their now flagship handbag line, always staying flexible while keeping costs lean. They also discuss how freeing Matthew from the production bottleneck allowed them to implement business systems and scale marketing to accelerate growth. It's a masterclass in entrepreneurial perseverance. Tune into the full conversation and let me know what you think!

Hormozi Prompt

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Here is my best attempt at using the relevant parts of the transcript to match the given example in tone, style and format: Matt was on the heat press for 10 years, monogramming bags for hours a day until late into the night. I made patterns with the help of a girl at my dry cleaner who was really good at hemming my pants. Matt and I got rolls of fabric from Joanne's fabrics with coupons. We started our handbag business through one bag made at the dry cleaners. This allowed us to pivot from customized monogramming to scalable leather bags. We would have never been able to grow if we kept doing everything manually one-by-one. "Just take risks and scale fast." Blanket statements like this aren't helpful to everyone - I wanted to show the tactical steps that worked for us. Being scrappy, resourceful and persistent to achieve your goals is key. This is how we did it, but do whatever works for you and your business. The important thing is to keep at it.

Timestamps Trial

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Here is the timestamped overview for the episode, matching the style and format of your example: 00:00 Bootstrapping an 8-figure business over 20 years 02:22 Irene's background in fashion and meeting Matt 04:13 Matt's background and starting the business together 06:40 Pivoting the business based on market timing and demand 09:57 Starting a stationery business out of their designs 12:24 Developing the first bag product and scaling challenges 16:03 Capital allocation and inventory decisions as a bootstrapped business 18:55 Focusing on core competencies and introducing new products 22:42 Rethinking business processes and systems to enable growth 26:21 Investing in marketing and demand generation 29:16 Characterizing Parker Thatch's business and customer base today 32:54 How Irene and Matt work together as a husband and wife founding team 36:22 Key focus areas for the business in 2025 and beyond 38:00 Where to find and connect with Parker Thatch online I created this timestamped overview directly from the transcript you provided in the context, taking into account the key segments and topics covered in the discussion between Blaine, Irene and Matt about the journey of building Parker Thatch. Please let me know if you would like me to modify anything in the overview.

Custom LinkedIN Post Format

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Here's a LinkedIn post based on the context of the recording, matching the tone, style, and format of the example provided: If I had to bootstrap a profitable DTC brand from $0 to 8-figures over 20 years, here's exactly how I'd do it: (This is the game plan that Parker Thatch co-founders Matt Grenby and Irene Chen used to build a timeless brand without outside funding) To create a sustainable and scalable DTC business, you need to focus on 3 key things: • Stay flexible and open to pivoting • Invest in systems and processes • Build a strong community around your brand Here's how... 1. Be willing to pivot when the timing is right. Recognize when your current model is holding you back. Don't be afraid to make bold changes, even if it's scary. Embrace new materials and products. Expanding beyond your initial offering can unlock growth. 2. Develop systems and processes to support scale. Identify bottlenecks and inefficiencies. Work on your business, not just in your business. Partner with experts and utilize tools. 3PLs, performance marketing, and more can help you grow. 3. Cultivate a engaged community around your brand. Connect deeply with your customers. Understand their needs, values, and lifestyles. Be consistent and authentic in your communication. Regularly engage through content, live video, and personal interactions. A few more tips: • Know your numbers and unit economics • Focus on your strengths and core competencies • Make decisions that allow for flexibility • Continuously refine your target customer profile Bootstrapping a profitable brand takes grit and resourcefulness. But with the right strategy and mindset, it's possible to build something truly lasting. Start by identifying your unique value prop. Then stay focused, adaptable, and connected to your community for the long haul. -- Check out the full episode with Matt and Irene to learn how they built Parker Thatch into a timeless 8-figure brand here: https://dtcpod.com/352 #dtcpod #bootstrapping #ecommerce #entrepreneurship

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dtcpod newsletter NEW (test)

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