1 Burst results for "Jeff Reiter"

"jeff reiter" Discussed on How I Built This

How I Built This

08:16 min | 1 year ago

"jeff reiter" Discussed on How I Built This

"Mobile advertising. Which is still pretty nascent at that point and You working on like a a. We work type thing or like a like what were you. Were you running. A business out of i was we work. Tenant ended up kind of bringing on a partner who is based in atlanta. Who was kind of back and forth between atlanta new york and we we ultimately set up kind a call center to sell to local businesses that was based in atlanta. So i go down there. And that's where we had some employees but i was the only one in new york working and it was out of we work. I mean it sounds like a great business. But at the time i would imagine it was probably hard to convince small businesses to spend significant money on this. That's right there. Were like two core challenges that Were hard to overcome which one explaining to small businesses what clicked to call was where you were generating these leads from etc. Still very nascent. And then you know what i saw was just selling to to. Small businesses is really challenging. these are businesses which i appreciated every dollar matters. These businesses their family businesses. Where you know if something doesn't work you know they're they're making less money personally and so you know a lot of times. The the sales would work and they would help build a business and that felt great but a lot of times. They didn't work and it was very contentious and it just was and not something i enjoyed and this is why so many companies with huge businesses. Right so it's like that. Is it the pareto principle. The eighty twenty rule right which is like eighty percent of your business comes from twenty percent of your customers and when you're dealing with tons and tons of little mom and pop stores. It's just much harder presumably. It's harder and was a lot of churn and again you would just see these budgets. They they would afford you know an advertising campaign this month and not be able to afford it next month and it's it's just a grind. Yeah so from from what. I've read never got this project. vocalized profitability. But i mean but you worked at the for for. I think for about three years right Yeah that's under it did you. You're thirty where you're kind of looking around at your friend cohort who may be traditional jobs or went to law school and we're now lawyers want to finance it. Were now in on wall street and these sort of well paying jobs in. Did you feel like ooh. Maybe maybe i i gotta figure this out like we're getting anxious. Yeah i i would say that's fair Was it was probably less on the traditional side like i. I had my friends that were like bankers and saw what they were doing and did not not envious of that More i was interested in just like the tech scene and what was going on. Facebook was all the rage and you saw these companies getting big successful and a lot of people making all this money and it felt like an ecosystem that was totally walled off and unavailable. At one point. I try to apply for a job at facebook and was told. I wasn't what they were looking for. So i didn't know what i was gonna do. I had learned a ton. But i never had a traditional job. I never knew what a a traditional company gig look like but of course like still had the entrepreneurial itch i was working on vocalise But i i just knew it was gonna be a tough gig. Maybe back to your point started thinking about what i would want to do next. Okay so at some point Why you were still working on the startup. I guess you were accepted into an accelerator program in in new york and was at program where you would eventually meet the guys who who'd become your co founders for casper right that's right It was gabe. Lucan neil they were on a business. They were friends from brown university Their business had an ecommerce component to it. So i understood. You know some parts of what they were trying to do. And what were they trying to sell so the they were trying to help. bloggers and content creators monetize air traffic by selling curated ecommerce goods so it was kind of like a trying to operate a marketplace on bloggers websites. And meantime you just kind of get to know these guys. This is neil. Parikh gave plate men and luke sherwin right. That's right yup. And i mean how. How do you guys start talking about mattresses about about your background You know it's funny. I think it started as a conversation around. Sleep and neil's dad is asleep doctor. He's a pulmonologist. So neil knew a bunch about sleep This was also win. Jawbones and fitbit's were really i coming into the market started talking about. What was it that that led the mattress industry to exist the way existed today and it was also just based around like business models and we started talking about. What harry's was doing and razors noboa's yep and we were in a startup accelerator. Everyone's reading tech crunch every day and reading about the massive amounts of money all these companies were raising yet. You know that goes back to the sense like we felt like there. Was this whole universe going on that. We weren't a part of so. At what point did somebody one of those three guys say. Hey philip you know about mattresses useful mattresses. Maybe we should. Do you wanna like to join together and do something around mattresses like how did that conversation even start. Will you know we would sketch out. Like how would this business work if we wanted to do. Direct consumer and mattresses and what were the things that would that would entail in. You know so you have to build a brand you have to go create the product you have to create a website etc and after we sketched a lot of this out. We all looked at like. Yeah this this seems like pretty reasonable like we're probably missing something and so we we then went and sat down with jeff reiter One of the founders of harry's razor company and jeff was also a founder of worry parker and we're like thank you so much for making time. We know you're crazy busy like we really appreciate it. Just five minutes. Here's our idea. what are we missing. And he like you know he thought about it and i remember being very a contemplative asking questions and he was like no. I think this could work and like for us delegation from the highest authority. We were like okay. This is amazing and we were still hesitant because we were still working on a respective businesses. And we're like okay. Now what And i remember looking at me in the eye and saying you know that if we don't do this someone will do that. Won't that just kill you and doubt was the question that i couldn't get out of my head and i thought he was right. I was like this should exist. it will exist. I think it'd be really fun to go. Try to make this exists with this group. And let's go give it a shot when we come back in. Just a moment why. A lot of investors pushed back on phillips idea why he and his partners kept going and how casper got its name which is not the way you think. Stay with us guys in. You're listening to how i built this from. Npr the following message comes from npr sponsor. We work with. We work all access. You can finally leave behind all the inconveniences and distractions of working from home. At the swipe of a card. You can unlock hundreds of nationwide workspaces actually designed for work and it with a month to month membership. 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