How I Built This with Guy Raz Bombas: David Heath and Randy Goldberg
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Sep 19, 2022 David Heath and Randy Goldberg, co-founders of Bombas, share their journey from side hustles to revolutionizing the sock industry. They dive into the surprising demand for socks at homeless shelters that sparked their socially responsible business model. With perseverance, they transformed Bombas into a quarter-billion dollar brand, facing skepticism from investors and navigating the challenges of design and production. Their tale includes a pivotal moment involving Shark Tank that showcased their resilience and dedication to community impact through innovative entrepreneurship.
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The Sock Gap
- Heath and Goldberg discovered that socks are a critical unmet need in homeless shelters.
- Shelters often can't accept used socks, making new ones a constantly high demand item.
The Godfather's Guidance
- Lacking sock industry knowledge, they sought help from David Heath's godfather, a former Gold Toe executive.
- He connected them with a factory willing to work with them on product development.
Blank Slate Innovation
- Heath and Goldberg's inexperience in retail allowed them to approach product design with a fresh perspective.
- They focused on creating the best possible sock without initial cost constraints.