Ariel Kaye, founder of Parachute Home, leads a discussion on business growth with co-founder Dane Brown of King Brown Pomade and Deanna Blasi-Diandino of Mindset Tapestry. They tackle the intricacies of transitioning from self-funding to seeking investment in men's grooming and offer insights on marketing emotional health tools for children. The group shares strategies for overcoming challenges in a male-dominated industry, emphasizing innovation, brand identity, and the power of positive affirmations.
Ariel Kaye underscores the importance of staying true to core business values while navigating calculated risks for growth.
The podcast highlights grassroots marketing strategies, like affiliate marketing and influencer collaborations, to enhance visibility for products.
The episode addresses the unique challenges female entrepreneurs face in securing investment, emphasizing the need to leverage their distinct narratives.
Deep dives
Ariel Kay's Entrepreneurial Journey
Ariel Kay, the founder of the bedding and home goods brand Parachute, shares her journey of starting a business without prior experience in textiles or manufacturing. Initially inspired by successful direct-to-consumer brands, she launched Parachute in 2013, aiming to redefine affordable luxury in home goods. Kay discusses the challenges of entering a competitive market and highlights her focus on quality customer experience and innovative product offerings. Despite the learning curve, her persistent dedication led to a thriving brand and the gradual expansion into physical retail spaces.
Balancing Risk and Focus
Kay emphasizes the delicate balance between taking risks and maintaining focus on core offerings in her business. She shared a specific example of experimenting with furniture, which ultimately didn't align with their primary product line, requiring a reassessment of their focus. The decision to introduce new products involves a careful evaluation of market response and supply chain logistics. Kay believes that while taking calculated risks is essential for growth, remaining grounded in the brand's core values is critical to enduring success.
Addressing Cash Flow Challenges
One caller, Dane, shares his experience with his grooming brand, King Brown Pomade, facing cash flow challenges after ten years in business. He highlights the struggle of being stock-rich but cash-poor, seeking advice on whether to pursue investments to support growth. Both Kay and the host advise Dane to carefully consider the strategic value of potential investors and the importance of securing partnerships that align with his business goals. They reiterate that maintaining strong relationships with customers and focusing on increased market penetration can effectively facilitate growth.
Innovative Marketing Strategies
Deanna, another caller, seeks guidance on how to gain visibility for her product, the Mindset Tapestry, an emotional health tool for children. With budget constraints hindering traditional marketing avenues, Kay suggests exploring affiliate marketing opportunities and leveraging influencers to amplify brand presence. The discussion highlights the efficacy of grassroots marketing and building connections within specialized parenting communities. By offering samples and seeking collaborations, Deanna can engage potential customers while building a loyal following.
Overcoming Gender Bias in Business
Megan, a founder in the male-dominated hard seltzer industry, expresses her frustration over encountering bias while seeking investment. Both Kay and the host acknowledge the challenges women face in securing funding and emphasize leveraging the unique consumer perspective that female entrepreneurs offer. They encourage Megan to highlight her narrative, as it resonates with untapped market opportunities and aligns with evolving consumer trends. By focusing on her product's strengths and staying true to her vision, she can attract the right partnerships and build a strong presence in the industry.
Parachute Home founder Ariel Kaye joins Guy on the Advice Line, where they answer questions from three founders on being mindful and strategic in their next expansion steps.
Today, we meet Daen, an entrepreneur in Australia considering investment for his line of men’s grooming products after ten years of self-funding. Then Deanna, a former educator in New Jersey seeking new press for the emotional health tool she designed for children. And Meaghan, a Florida-based hard seltzer maker trying to gut-check biases in her male-dominated industry.
If you’d like to be featured on a future Advice Line episode, 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 hibt@id.wondery.com or call 1-800-433-1298.
