My First Million #28 - Building Big Ass Fans For Big Ass Money
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Nov 27, 2019 Carey Smith, founder and CEO of Big Ass Fans, shares his journey of transforming a small ceiling fan company into a $500 million giant. He discusses the game-changing rebranding strategy that made 'Ass' a marketing win, leading to skyrocketing sales. Carey emphasizes the importance of employee empowerment, sharing $50M post-sale and fostering a growth-oriented culture. He details unique negotiation strategies that led to an unexpected but lucrative exit, while showcasing how innovating in mundane industries can lead to remarkable success.
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Big Ass Fans Success
- Kerry Smith, the Chief Big Ass, built Big Ass Fans, an iconic brand bought by 70% of Fortune 500 companies.
- The company grew at 30% yearly and sold for $500 million.
Contacting Kerry Smith
- Sam Parr contacted Kerry Smith through his website's contact form, intrigued by the company's unique name.
- Smith clarified his title as CBA, Chief Big Ass, enjoying the double entendre.
Name Change Story
- Initially called HVLS Fan Company (High Volume, Low Speed), the name changed to Big Ass Fans after customers' frequent remarks.
- Despite some pushback, the descriptive and memorable name proved effective, boosting brand recognition.