We’ve taken $0 in VC money since starting
@cutsclothing
5 years ago.
The bootstrapped path hasn’t been easy, but it’s taught us some invaluable lessons along the way. Here are four of the biggest I’ve learned. 🧵 (1/X)
Regardless of your political affiliation, consider this: President Trump was shot in the ear. He hits the ground, millimeters away from death.
A few moments later, he stands up and shouts:
"FIGHT! FIGHT! FIGHT!"
You can't help but feel inspired. The man loves America and he's
Imagine if there was a fitness prerequisite to be United States President:
20 push-ups, 10 pull-ups, 30 sit-ups, and running a mile in under 14 minutes.
The standard this would set for our Nation would be profound.
Recently switched from audio to visual with
@theallinpod
+ really enjoying all the charts/links this week!
@DavidSacks
@chamath
funding opposite sides of government are why I love this show so much, yet are cordial and friends!
Building a business is so hard. Someone asked me yesterday if i’ve ever been afraid of going out of business. I told them— every damn day!! It’s been that way since I started. But I tell you this. I rather have that feeling than being a consultant or VP somewhere!!! At least now,
@Jason
I'm an example of that. I was fired/laid off in 2013. Now my company has more revenue than my old agency! Getting laid off was the best thing that ever happened to me. Don't be bitter about getting laid off, get motivated.
So before you go straight to fundraising, my advice would be to try pushing forward just a bit on your own. Because when you do, you may realize that you never needed the money in the first place.
Good luck everyone, rooting for you.
I can't stand "change the world" type of founders. It's shallow because the dream is so vague. What about impacting 10 people's lives by providing opportunities in the form of work that they actually love to do every day. That's impact. Not some catchy slogan to impress investors
The turnout today was so incredible!!
@cutsclothing
is just getting started.
Humbled by how many entrepreneurs, founders and Rolex collectors love CUTS.
The Amex lounge is a great marketing lesson. It’s successful because it’s not* inclusive, gives people a sense of status, and makes them feel special. When in reality, it’s a cafeteria with slightly better chairs. Sometimes saying “this isn’t for everyone” is the best marketing!
One trend I hope dies in 2023 is the Shopify screenshot!
PSA: Whatever revenue you think is cool. A bigger fish is doing that revenue in an hour or a second.
Focus on getting credibility from non-revenue attributes; excellent product, exceptional CX, or world-class packaging.
This isn’t bad. I lived at home from ages 25-27 while I started
@cutsclothing
. Was it a massive ego hit? Yes, but it was my startup incubator stage. No distractions, low burn + made me 100% committed to seeing the business through— bc I was committed to not being that kid who
NEW YORK FRIENDS:
You're Invited: Sept 9th & 10th to Cuts Grand Opening in New York City
Where📍
375 Bleecker Street
New York, New York 10014
When 🕐
Saturday, Sept 9th @ 11:00am
Sunday, Sept 10th @ 12:00pm
You see so many brands raise money and put out a press release like they won the Superbowl. But in our eyes, simply raising money isn’t a win. The win is building a community and a great business.
My Mom + Dad have been the biggest supporters of mine through the years. Every time they come visit is special. My favorite part is my dad asking to hit the
@cutsclothing
sample room (but won’t ask in front of team) He loves cuts more than me.
As a CEO of an IRL business. My advice is to leave the WFH jobs + join a company where you can show up + learn from your co-workers. WFH in your early 20s builds a slow-growth career! You gain traction from building relationships with coworkers. That doesn't happen in WFH as fast
Learn to brag about yourself at work.
As a CEO of a remote company I can tell you I have NO IDEA what people are doing on most days.
Surface your work.
Give your boss the material to build an awesome story about you!
Building a brand is the most rewarding career because it has many different archetypes. You go from dreaming to doubts, to seeing the unthinkable happen. You learn so much. And the dreams get bigger + bigger. I’ve long said this but today seems like a great day to say it again.
Just left Nashville.
Nashville is where the American Dream is still possible 🇺🇸
Cheap Homes
Common Sense population
Faith based community
Hustlers who want to build something special
People who love the USA 🇺🇸
Loved every minute of it.
Since the time I can remember, I've always romanticized the city of New York. I was a massive Yankees fan. I really got into sports when I was eight years old, watching the Yankees go on that crazy run from '96 to 2001. As my parents were from there, I always wanted to live in
The DTC slander needs to stop! Some of us have created amazing businesses from scratch. Bootstrapped, customer centric + community driven. Have real brand positioning + a long term outlook — from the start. I don’t give a f** what the market says! The market isn’t
@cutsclothing
Too many brands turn into money pits because of massive outside funding. People forget, businesses exist to make money, first and foremost. If you can’t build a foundation to do that, what you end up with is just a bullshit narrative.
Building a brand is about dreaming, creating something that doesn't yet exist. The hardest part is that there's no 'right way'; it's all subjective, dependent on testing, learning, and being unique. There's nothing more satisfying than seeing people love something you built from
I get asked all the time what the future vision of CUTS will be! My goal is to generate $1B in yearly sales, with stores all over the world, and to show my future kids what hard work looks like. I say all the time that 'we're just getting started' because it's true!
@cutsclothing
The CEO's job is to be the most curious person in the organization. I constantly think there are better ways to do almost every part of our business. Love talking shop with other founders to find the tiny bit of gold to help grow our brand.
Something I’ve noticed about great founders that rarely gets talked about... They’ve trained themselves to have belief – both in themselves and in what they’re building.
Here are 6 lessons I’ve learned on how to train that belief in yourself. 🧵 (1/X)
Lesson
#4
- Power. By not raising $, your team retains all decision-making power. We don’t have a board. We don’t have to ask some suits that only see our brand as an IRR lever what to do next. The people running the show get to do what’s best for the biz. And that’s powerful.
Over the past year it’s been awesome finding a new reference point of what success can look like.
@DavidSacks
appreciate you chopping it up for a few minutes last night + giving me a bit more inspiration. Like I said, hopefully the next time we meet it’s on my bird
@theallinpod
Stoked to be a finalist for EY Los Angeles Entrepreneur of the Year. During the final interviews, I got to meet some of my heroes; who have taken companies public and are worth billions. What I told them was simple, WE GOT NEXT! Better believe it!
@cutsclothing
Favorite quote of 2023— “The point is that we all have to be under some stress, that’s what evolution requires, if an ecosystem or an organism is not under stress they have no pressure to evolve, become fitter + compete.”
@DavidSacks
A lot of founders are quick to raise money because they "need it" at CUTS we been almost entirely bootstrapped since day 1. No venture capital money, all sweat equity. We did that with the help of Shopify Capital, starting with $2000 loan to over 1M. - Mini Thread Below -
Everyday I thank God for the opportunity to lead
@cutsclothing
. It's my absolute passion + I'm beyond lucky to wake up everyday and compete in the Sport of Business.
I love February in e-commerce. The Q4 fog is starting to clear and the sunlight is poking through. The rocks of the year are built in Feb + March that make a great year!
Walking is a lost art. I try to go on a few walks a day.
It's one of my favorite things to do.
I'll end up feeling refreshed and less stressed after walks.
Build it into your schedule.
Hey
@Jason
, congrats on losing all that weight. Seems like you are having a hard time finding the right t-shirt. Let me help you. Free
@cutsclothing
FOR LIFE if I get a ticket to All-In Conference. I'll gladly pay for a ticket + provide swag bags for everyone attending as well!
Lesson
#1
- Bootstrapping forced us to focus on doing one thing really great. We started with the elevated minimal work shirt. We had one product that we were going to perfect, and had to apply relentless focus towards it in order to stay alive.
The statement "you are a product of the environment you surround yourself with" is incredibly true. I was fortunate to be five years younger than
@paulgoodman
, and when they pitched Pura Vida in my senior classroom, it inspired me to start CUTS. I was also in close proximity to
Was at the US Open yesterday and saw several dozen
@cutsclothing
in the wild.
It never gets old, spotting them.
At the same time, there’s so much opportunity to see more. Several other brands with thousands! We’re just getting started!
Love this input from the last
@theallinpod
Who is critical
Who is exceptional
If you're an employee in 2023
Make sure you are one of these.
Be ready to grind + relish in it.
So pumped for tomorrow!!
Some more details:
• Ribbon Cutting with
@MarianoRivera
• FREE T-Shirt Swap (give any tee, get a cuts)
• Drinks by — wanderandivy & pressseltzer
• Coffee by — felixroastingco
• Music by DJ — monopolimusic
Limited Release Hats and Tees!!
Be
Will CUTS ever raise money? The answer is most likely yes. But we don’t NEED to, And I hope that’s always the case.
We run a profitable business that is growing exponentially. Because those two things are true, it’s completely up to us, when or if we will. We have leverage.
We thought our lack of resources was a crutch, but really it’s become a massive blessing. The discipline muscle we’ve built because of it has turned into our biggest advantage. I don’t believe we would have learned this as effectively with millions in the bank from day 1.
@jarodsteffes
Try
@cutsclothing
. We have hundreds of reps that give a response time less than 6 hours. You can even tweet the CEO! I’m right here ready to serve!
Reminder: Be a Dawg Tommorow
People won't always like you.
People won't always agree with you.
But you have the vision.
Protect that.
And... GO FOR IT!
DTC Brands are impatient!
Everyone wants everything right away! Ralph Lauren and Tommy Hilfiger have been doing this for 50 years, and they would have loved the opportunities and speed of e-commerce! We're the lucky ones!
DTC brands can be too disconnected from the products.
Lesson
#2
- We had to learn to spend each $ efficiently. We had no other choice. We had to analyze every angle to be profitable. From our site to FB ads, we ruthlessly optimized because our lives depended on it.
Every day was like Russian roulette, we could not fail.
This chip has built our culture. A culture of who-gon-stop-me. Yes, it’s sort of funny, but that’s how we’ve felt every day, investing in ourselves first before taking outside money.
Playtime is over! At some point, free lunches, kombucha on tap, gyms, cute cubicles is just a facade. You either love the work you do or you don’t. Real A+ players don’t need much, because they love every second!
@_hawko
False. Twitter spends $13M/year on food service for SF HQ. Badge in records show peak occupancy was 25%, average occupancy below 10%.
There are more people preparing breakfast than eating breakfast.
They don’t even bother serving dinner, because there is no one in the building.
Since
@cutsclothing
launch in 201 7, we've grown rapidly from 0-50 employees, most of them coming in the past two years. As we've brought on more talent, there have been major changes in our company culture.
Here are the top 4 things I've learned: 🧵 (1/X)
DTC Twitter: We're hiring a Director of Growth.
This person needs to be excellent at creative analysis and budget allocation.
Come join a very ambitious team!
At
@cutsclothing
we are a Merit based growth company. If you come in and kill it. You will be promoted. Age or seniority are just facts not purpose of promotion!!!
Does anyone else sometimes get super creative right before bed?
It's always a tug and pull.
Do I go to bed and get a full night's rest or do I stay up and see where it goes?
EARLY PREDICTION: All the major retailers (spend whales) that usually crowd the Meta have had a bad year, thus leaving a spend gap in the market for the "little" Shopify brands to strike. The insurgent's time is now!
Excited to announce the return of the VLOG 📈
This series will give everyone a real behind-the-scenes look at the foundation of
@cutsclothing
Tune into the first episode today at 5 PM PST
We broke records this week as well. For all those who shopped on Black Friday. You are the reason so many people can quit their boring jobs to follow their dreams.
Shopify merchants have broken Black Friday records again. By 1 AM EST in North America on Black Friday,
@Shopify
merchants had already crossed $1B in sales and global sales peaked at $3.5 million per minute at 12:01pm EST.
Black Friday belongs to independent businesses.
Lesson
#3
- Bootstrapping has given our team an important chip on our shoulders. We’d hear brands raise millions even though they weren’t growing like us, and it kind of became a game. Let’s see how long we can last without a Series A, etc.
From agency beginnings to leading a 100M+ company. This week I sat down with one of my closest founder friends the brilliant mind behind Ridge Wallets,
@SeanEcom
.
I got the inside scoop on Ridge's success story, current ecommerce trends and how to integrate great influencers
@DavidSacks
@theallinpod
As a CEO
@theallinpod
has by far been the most rational podcast for leadership, up-to-date news, and free thinking opinions from icons in their perspective spaces. Please keep it rolling!! Best pod in years!! Love the
@DavidSacks
rants!!
Got to the office early today. Wrapping up 2021 and just sitting in my office so thankful. Beyond blessed to get to do this work everyday. 5 years ago this was the dream. I love every minute of it. Not going anywhere anytime soon. We’re just getting started
@cutsclothing
📈🙏🏻
DTC Twitter -- a friend recently suggested that
@cutsclothing
should have two ad accounts one for men + one for women bc the pixel is trained for men don't send women traffic to it. Then FB disruptors highly advised against it. Do any Ad buyers have insights on the right path?
January in DTC land is like hitting the cold plunge after the sauna— jumping in steaming hot (from Q4) the cold water stings, the first few seconds it feels almost unbearable. But after a few minutes, you’re healed and cleansed of all your bad habits. Pop out all brand new!
I’m addicted to competition. I love every second of it. If you come at me in any way I want to end you. Simply put. There’s no friends in direct competition! The battle is where the fun is!
Something we say every Black Friday is…..AGAINST ALL ODDS. No matter how much we planned or how confident we think we are. It’s a rallying cry. A team mindset. The insurgents. The underdogs. No one believes in us. BFCM we’re coming.
There’s no
@cutsclothing
without the support of my Father, Angelo. My confidence, work ethic, relationship w/ Jesus comes from his example growing up. I’m extremely lucky!