By the time @swaguphq was started I had launched at least 15+ different ideas of varying levels of success growing up
Deciding what to and when to go all in on an idea is super challenging and there’s a lot of bad advice out there
Here’s how it went for me and SwagUp
Here we go 👇
By the time @swaguphq was started I had launched at least 15+ different ideas of varying levels of success growing up
And that’s largely because building startups are less about the product and ideas, and more about markets, timing, and execution
This is where you see many “over night successes” that were really the culmination of years of at bats, even for me at 25, I started at 6 :)
Leading up to it, I had known a bit about the industry, needing swag while launching and app in school, eventually selling flags and custom shirts to fraternities on campus in college
When I got there, the two worlds collided, I had the swag background and also saw how passionate startups were about swag
- emphasis on brand development
- employee engagement/culture
- community building
- Remote work environments
- breaking through digital noise
All of these made the need for swag more apparent
On one side you had large, faceless ecom site like 4imprint that throw you into a sea of garbage for you to fend for yourself and figure it out
And on the other side you have...
People at startups are different, they are wary adopters, risk takers, they like great design and experiences, they like companies that get them
No “promotional products” understood startups
This cost basically nothing to set up and I could do it on nights and weekend
Turns out they did, within a matter of days we were getting inbounds from startups like Soylent (amongst others I can’t remember)
Startups were looking for a new way
In the first full month I think we did about $5k, it wasn’t a ton but it was enough to say people wanted a better way, were willing to try something new from an unknown co
1. How quickly I was able to get paying customers
2. Size and fragmentation of the market ($30B ish)
3. Favorable cash dynamics
Size/Fragmentation - Early on I learned that the market was close to $30b and consisted of 30k distributors, 98% of which did under $2.5m - Too many distributors all selling the same shit in the same way + fish where there’s already money
I think too many people want to be Elon Musk and change the world with solutions to improved problems (or at least they think that’s what he’s doing)
With swag, it’s custom, so you produce as ordered, no inventory needed
So no inventory + able to build differentiated product through no code tech = no real capital needed upfront
Don’t get so caught up on what the product is early on
Create rapid feedback loops and keep stacking wins
Keep your head down and do that for a few years in a large market and you’ll have a huge business
To the moon 🚀
Have another thread concept you think would be interesting, let me know below 👇
More from For later read
Today's Twitter threads (a Twitter thread).
Inside: Planet Money on HP's myriad ripoffs; Strength in numbers; and more!
Archived at: https://t.co/esjoT3u5Gr
#Pluralistic
1/
On Feb 22, I'm delivering a keynote address for the NISO Plus conference, "The day of the comet: what trustbusting means for digital manipulation."
https://t.co/Z84xicXhGg
2/
Planet Money on HP's myriad ripoffs: Ink-stained wretches of the world, unite!
https://t.co/k5ASdVUrC2
3/
Strength in numbers: The crisis in accounting.
https://t.co/DjfAfHWpNN
4/
#15yrsago Bad Samaritan family won’t return found expensive camera https://t.co/Rn9E5R1gtV
#10yrsago What does Libyan revolution mean for https://t.co/Jz28qHVhrV? https://t.co/dN1e4MxU4r
5/
Inside: Planet Money on HP's myriad ripoffs; Strength in numbers; and more!
Archived at: https://t.co/esjoT3u5Gr
#Pluralistic
1/
On Feb 22, I'm delivering a keynote address for the NISO Plus conference, "The day of the comet: what trustbusting means for digital manipulation."
https://t.co/Z84xicXhGg
2/
Planet Money on HP's myriad ripoffs: Ink-stained wretches of the world, unite!
https://t.co/k5ASdVUrC2
3/
Back in November, I published an article for @EFF about @HP's latest printer-ink ripoff: after offering its customers a free-ink-for-life plan, it unilaterally switched them all to a $1/month-for-life plan.https://t.co/bsc73xPSuo
— Cory Doctorow #BLM (@doctorow) February 18, 2021
1/ pic.twitter.com/tagduPupA5
Strength in numbers: The crisis in accounting.
https://t.co/DjfAfHWpNN
4/
Accountancy is more likely to be mocked than celebrated (or condemned), but accountants, far more than poets, are the unacknowledged legislators of the world.
— Cory Doctorow #BLM (@doctorow) February 18, 2021
1/ pic.twitter.com/FaNQc66gQN
#15yrsago Bad Samaritan family won’t return found expensive camera https://t.co/Rn9E5R1gtV
#10yrsago What does Libyan revolution mean for https://t.co/Jz28qHVhrV? https://t.co/dN1e4MxU4r
5/
the whole point of Dunks was you could go cop them at VIM whenever you wanted for $65. this shit is like having to enter a raffle to buy milk.
like seriously why not make a ton more of them if they're gonna be so sought-after? they land at outlets? so? nike still makes money off that.
the only reason to keep making them so limited is that they KNOW all that matters is the profit on the flip and if they were readily available FEWER people would want them, not more
the whole system is super broken, but it's just gonna go the way it goes, because at this point it all caters to the secondary market. the only reason Nike can sell Jordan 1s for $200 is because the people buying them can flip them for $500
adjusted for inflation, a $65 AJ1 in 1985 is like $160—and modern-day AJ1s are made from cheaper materials in factories staffed by cheaper workers. they don't HAVE to be $200 retail. but the secondary market nuked the whole concept of what sneakers are "worth"
\U0001f91e ONLINE RAFFLE is available from @bodega for the upcoming "UNLV" Nike Dunk Low Retro. Open until 5 PM ET on 2/16.
— Kicks Deals (@KicksDeals) February 15, 2021
\u27a1\ufe0f\u27a1\ufe0f https://t.co/JxJlyPuJVo pic.twitter.com/zenWOCDg4L
like seriously why not make a ton more of them if they're gonna be so sought-after? they land at outlets? so? nike still makes money off that.
the only reason to keep making them so limited is that they KNOW all that matters is the profit on the flip and if they were readily available FEWER people would want them, not more
the whole system is super broken, but it's just gonna go the way it goes, because at this point it all caters to the secondary market. the only reason Nike can sell Jordan 1s for $200 is because the people buying them can flip them for $500
adjusted for inflation, a $65 AJ1 in 1985 is like $160—and modern-day AJ1s are made from cheaper materials in factories staffed by cheaper workers. they don't HAVE to be $200 retail. but the secondary market nuked the whole concept of what sneakers are "worth"
Every single public defender. Every single day.
Bail arguments, motions, oral arguments, hearings. Judges don’t know, follow, or care about the law. Prosecutors are willing to take advantage of it. And mandatory minimums, withheld evidence, & pretrial detention coerces people to plead before trial. When theres a jury. A shot.
But defenders still fight. And still win. Most times wins aren’t “Justice.” It’s power of repetition of argument in front of same judges. Introducing those in power to the people they oppress. Not just a RAP sheet or words on a page. Defenders make it harder to be brutal & cruel.
I worked as a public defender at an office as well resourced as any in the country. Social workers, team of investigators, a reentry team, support staff, specialist attorneys in immigration, housing, education, family. Relatively low caseloads (80-100). And yet still injustice.
Most think that balancing the scales of justice means more funding for defenders. Thats part of it. Enough a attorneys to actually be at bail hearings. Wrap around services to be able to help people trapped in the system end up better off in their communities. Lower caseloads.
Raise your hand if you\u2019ve lost a case despite having the law, facts, quality lawyering, and justice on your side.
— Jon Feinberg (@JonFeinberg) February 13, 2021
Bail arguments, motions, oral arguments, hearings. Judges don’t know, follow, or care about the law. Prosecutors are willing to take advantage of it. And mandatory minimums, withheld evidence, & pretrial detention coerces people to plead before trial. When theres a jury. A shot.
But defenders still fight. And still win. Most times wins aren’t “Justice.” It’s power of repetition of argument in front of same judges. Introducing those in power to the people they oppress. Not just a RAP sheet or words on a page. Defenders make it harder to be brutal & cruel.
I worked as a public defender at an office as well resourced as any in the country. Social workers, team of investigators, a reentry team, support staff, specialist attorneys in immigration, housing, education, family. Relatively low caseloads (80-100). And yet still injustice.
Most think that balancing the scales of justice means more funding for defenders. Thats part of it. Enough a attorneys to actually be at bail hearings. Wrap around services to be able to help people trapped in the system end up better off in their communities. Lower caseloads.
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1/ Here’s a list of conversational frameworks I’ve picked up that have been helpful.
Please add your own.
2/ The Magic Question: "What would need to be true for you
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Please add your own.
2/ The Magic Question: "What would need to be true for you
1/\u201cWhat would need to be true for you to\u2026.X\u201d
— Erik Torenberg (@eriktorenberg) December 4, 2018
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody: https://t.co/Yo6jHbSit9
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
