Why I continue to be the best part 3
Why am I so smart, cool, and rich?
IDK
Are you adult enough to admit you dont fully understand your success?
This is part 3 in a series titled “Why ridge is having its best year ever”
And I can admit that 15% of it is “idk”
Macro
This is an obvious answer.
But last year Q1/Q2 had a big looming fear of recession.
Gas prices were HIGH. Americans spend 3-4% of their income on gas alone.
When the price doubles. their income doesnt double.
That just means they have less DISCRETIONARY income for things like wallets.
That totally happened after the Ukraine war last year.
There was a hangover from covid, the fed started raising rates, and a fucking war broke out.
The macro was WACK in 2022.
2023 is better, despite what the bank failures might suggest lol
So at least 10% of my success is purely from the macro.
And lets be honest- they macro is everything.
10%? There is a case it is 50%, 70% of my success this year.
I can brag about knowing my business or having a good offer, but the reality is I am a humble jellyfish being pushed by the currents of the great big ocean we call the global economy.
And the waters warm. Relatively speaking I guess haha
another part of the IDK-
Word of mouth.
We call it the “Big Brand Bonus”
We have spent over 100 million dollars on marketing since we launched.
We have sold MILLIONS of wallets.
That does something.
I’m not claiming a criteo look back window, those 2017 dollars aren’t driving sales today.
But they help build our “cosmic background radiation”- an ever present low temperature awareness of Ridge.
if we cut spend to zero for the rest of history, we would get some sales every day for at least a year.
And that number compounds. The first 10 million in lifetime advertising spend maybe you get 1 sale or 10 sales on day 366 of taking spend to zero.
After 50 million, or 100 million, that number could be 100, 500, 1000 sales a day at day 366.
Advertising, done right, is an asset.
Ben from true classic told me he thinks ad dollar spent should sit on the balance sheet as an asset, like a trademark or a domain name.
And I agree- there is a halo.
Ridge is benefiting from that compounding right now.
Our MER is going up for the first time ever. Spending more money, at a better return.
That is the power of the big brand bonus.
TLDR:
most of your success isn’t yours
You can’t out swim a current
The bigger you get, the more you benefit
Word of mouth is easier with a lot of mouths
SEANS JOB CORNER:
If you are a media buyer looking to come in house with a fast growing brand, reply to this email. I know 2 9 figure brands looking to hire. Remote!
One in the baby space, one in the mens apparel space.
And if you are a VP of growth, VP of acquisition, or a COO candidate with 9 figure experience, respond. Will connect you with brands looking for all these roles!