Episode brought to you by Trend & Finaloop.
On this episode of DTC POD, we delve into the world of product development and supply chain management. We look at the success story of Canopy, a company that created a beauty-focused category-defining humidifier. We also cover the challenges faced in bringing new products to market, the value of validating demand, and the importance of a shored-up supply chain.
Here's 5 key questions we'll answer on this episode:
1. What is the pain point with traditional ultrasonic humidifiers, and how did Canopy solve it?
2. How did Canopy successfully promote their product with a limited budget?
3. What are the pitfalls to avoid when building a new product and brand from scratch?
4. How did Canopy position their humidifier as a beauty tool and what experts did they bring in to do so?
5. What are the key differences between starting from scratch and building a custom product, versus starting with an existing product and customizing it for your needs?
Timestamps:
[00:03:36] Working & Factories In Asia
[00:08:07] DorisDev for startups: supply chain & branding.
[00:12:24] Validate demand before investing.
[00:17:06] Two paths: custom or off-the-shelf.
[00:19:35] Incubating products: humidifiers for beauty.
[00:24:42] Canopy solves "white dust" problem.
[00:27:18] Product positioned as beauty tool.
[00:32:17] Limited budget, invested in beauty media.
[00:36:37] Supply chain software manages quality control.
[00:42:17] Factored quality platform for single solution QC.
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Episode brought to you by Finaloop, the real-time accounting service trusted by hundreds of DTC Brands. Try Finaloop free - no credit card required. Visit finaloop.com/dtcpod and get 14 days free and a 2-month P&L within 24 hours.
Past guests & brands on DTC Pod include Gilt, PopSugar, Glossier, MadeIN, Prose, Bala, P.volve, Ritual, Bite, Oura, Levels, General Mills, Mid Day Squares, Prose, Arrae, Olipop, Ghia, Rosaluna, Form, Uncle Studios & many more.
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Justin Seidenfeld - Founder of Doris Dev
Ramon Berrios - CEO of Trend.io
Blaine Bolus - Co-Founder of Seated
DTC POD: How The Best Brands Are Built