Advice Line with Lara Merriken of LÄRABAR (October 2024)

Kim’s inspiration to launch a business came from an unlikely source: Her son’s Crocs. She thought the durable, washable material would make a great beach bag. So she designed one. But after investing her savings—inlcuding some of her kids’ college fund—Kim was crushed when her first major shipment of Bogg bags was defective. It knocked her so off balance, that she put the entire business on hold. Then something unexpected happened.The few thousand customers who already had a bag….clamored for more. So Kim decided to start over. She borrowed $120,000, found another factory, shared trade show booths with four other founders, and slowly built Bogg Bag into a $100 million phenomenon. What you'll learn:How getting nowhere with Crocs gave Kim the motivation to make Bogg Bag herself.Why her first $30,000 production run nearly killed the company. Why a founder isn’t always the best judge of her product How Superstorm Sandy gave new life to Bogg Bag How Kim built Bogg Bag for years while keeping her full-time job and raising two kids.How COVID turned Bogg Bag from a beach product into a “beach and beyond” product.How Kim got a massive acquisition offer–and why she turned it down. Why Kim thinks Bogg Bag can eventually become a billion-dollar brand.Chapters:06:36 - Growing up without financial security08:17 - From high-school dropout to a six-figure career17:19 - Reading “Mommy Millionaire” and dreaming of inventing something 19:41 - The Crocs-on-the-beach moment  24:56 - Kim hits a wall with Crocs, so she decides to make Bogg Bag herself33:33 - The early prototypes and a nervous visit to a boutique: “I don’t know what this is, but I think I need it.” 41:16 - The first big shipment, a $30,000 defect, and a decision to pull the plug  47:13 - A massive natural disaster presents an opportunity 52:15 - “Now I gotta make this damn bag”54:45 - A factory showdown in China59:52 - Starting over with $120,00001:01:51 - The trade-show “timeshare” in a tiny booth 01:07:12 - Finally quitting her day job01:10:42 - COVID boosts the business01:13:28 - The acquisition offer that could have changed everything01:23:40 - Learning to lead a much bigger company01:26:13 - The dream of a family legacy This episode was produced by J.C. Howard, with music by Ramtin Arablouei.Edited by Neva Grant, with research help from Sam Paulson.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.com See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Darin from North Carolina seeks guidance on consumer education as his ghee-based snack brand grows into major retailers. Then Sarah from Massachusetts explores scaling pathways for her ‘never-frozen’ gluten-free baked goods. And John from Ohio considers whether online sales can turn around his local food co-op. Plus, Ben comments on the drivers of Olipop’s nearly $2 billion valuation, and critiques a common piece of business advice that often holds founders back. Thank you to the founders of Gheelish, Sarah’s Gluten Free Goods, and Bexley’s Natural Foods for being a part of our show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to [email protected] or call 1-800-433-1298.And be sure to listen to Olipop’s founding story as told by Ben in 2024.This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Cena Loffredo and Robert Rodriguez. You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nicole Bernard Dawes spent much of her childhood hanging out in her dad’s potato chip factory on Cape Cod. She liked his kettle-cooked chips a lot more than the flavorless snacks in her mom’s health food store. But when she started her own business, she wanted the best of both worlds: a snack made with natural, organic ingredients…that still tasted good.  Nicole launched Late July Snacks in 2003, when most consumers barely knew what “organic” meant. For years, sales limped along. Then, in a moment of crisis, she made a company-saving pivot by launching a brand new product – organic tortilla chips. Within just a few years, Late July grew to over $100M in sales, and Nicole decided to launch a new brand in an even more challenging category: soda. You Will Learn:How growing up in a family business can help–and hurt–when you launch your ownThe pros and cons of financial vs. strategic investorsWhen to cut a product that isn’t workingWhy the fine print in a contract is so importantHow the hardest decision might be the best one for your family and the businessTimestamps:07:22 - The car crash that launched a potato chip company21:00 - Pregnant and craving crackers: The birth of Late July Snacks36:54 - The organic cookies that tasted great but nearly sunk the business40:49 - Tragedy and crisis: a father’s death and a $3 million loan in default50:31 - A tortilla chip Hail Mary57:29 - Nicole’s first big sales call… and her last chance to save the company1:08:49 - “The big fish eats the small fish.” A food giant acquisition1:13:36 - Nicole launches a new brand, moving from a hard category–to an even harder one This episode was researched and produced by Chris Maccini with music composed by Ramtin Arablouei. It was edited by Neva Grant. Our engineer was Robert Rodriguez. Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.com See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Cristopher from Chicago wants to expand his family’s salsa brand from farmers markets into retail. Next, Darcy in Australia considers adapting his protein bar brand’s messaging to reach beyond his core enthusiasts. Finally, Seema in Canada seeks strategies to increase B2B sales for her ethical kitchen linen company. Plus, Daymond and Guy talk about what makes a great Shark Tank pitch, and why Guy decided to start How I Built This 10 years ago. Thank you to the founders of Sabor a Mexico, Raised Nutrition and Cooks Who Feed for joining us on the show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to [email protected] or call 1-800-433-1298. And be sure to listen to FUBU’s founding story as told by Daymond on the show in 2018.  This episode was produced by Katherine Sypher with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Kwesi Lee.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Roy and Ryan were avid outdoorsmen who wanted a cooler that wouldn’t break. So they built one themselves.The result was YETI: a high-end cooler that early retailers thought nobody would buy. But serious outdoorsmen did—and eventually YETI escaped its niche, becoming a status symbol at tailgates, beaches, and soccer fields.In this episode, Roy and Ryan explain how they bootstrapped YETI, survived the sudden loss of their only manufacturing partner, and later stumbled onto the $30 product that supercharged the business. WHAT YOU'LL LEARNWhy solving a problem you personally experience can be more powerful than chasing a huge market.How YETI convinced people accustomed to $40 coolers to spend $300–$400.Why the brothers deliberately started with small independent retailers instead of chasing major chains.Why Roy and Ryan chose not to aggressively fight copycats How the sudden loss of their only manufacturer nearly destroyed YETI—but ultimately made the company stronger.How the brothers bootstrapped YETI for years without venture capitalWhy a simple $30 stainless-steel cup—not the famous $400 cooler— transformed YETI into a mass-market brand.TIMESTAMPS 6:10 — A free-range childhood of hunting and exploring10:02 — Early businesses: fishing rods and boats  15:30 — Roy’s early frustrations with coolers. “The hinges would break, the latches would snap.” 31:20 — The last-minute flight to the Philippines that led to YETI40:53 — People didn’t love the name–but they remembered it 47:49 — Why people were willing to spend $400 on a cooler 1:01:18 — The phone call that nearly pulled the plug on the business1:06:30 — How Roy and Ryan turned a catastrophe into a stronger company1:22:27 — From coolers to cups: A $30 product changed the trajectory of the brand  1:25:44 — Why the founders eventually moved on from YETI This episode was researched and produced by Carla Esteves, with music by Ramtin Arablouei. It was edited by Neva Grant. Our audio engineers were Maggie Luthar and Jimmy Keeley.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.com See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.