The Bright Ideas eCommerce Business Podcast | Proven Entrepreneur Success Stories
BI 294: Creating High Growth Companies with Stephan Aarstol
December 17, 2019
On the show with me today is Stephan Aarstol; founder of Tower Paddle Boards and a number of other direct to consumer brands. Back in 2010, Stephan was barely 6 months into his venture when he received a call from a TV producer for a show he'd never heard of. It was called Shark Tank - and it changed Stephan's life. After hearing Stephan's pitch, Mark Cuban decided to invest $150K in Mark's company, and that company wen on to become one of the biggest success stories in Shark Tank history. Since then, Mark has been a partner in virtually every business Stephan has started. In Stephan and I's conversation, we talked about what it was like to start a company in a highly competitive market, what it was like to work with Mark Cuban, and why he eventually implemented (and wrote a book about) the 5 hour work day in that company. If you are an entrepreneur looking for ways to make your company stand out, this episode is for you. Questions I Asked Stephan: [02:20] How did you come up with the idea for Tower Paddle Boards? [03:19] Did you know anything about making paddle boards? [05:44] How long had inflatable paddle boards been around when you launched? [06:44] How did the level of competition back then compare to now? [10:16] Why did you feel that you could be successful entering this market? [11:30] How long did it take to get the first $100K in revenue? [12:15] How did Shark Tank play a role? [14:35] What was it about your pitch that appealed to Mark [19:18] What was it like working with Mark as an investor? [22:44] Of all the things you've learned from Mark, what was his greatest lesson? [26:41] When and why did you decide to convert to a 5 hour workday? [29:31] Why did you choose to make this shift to a 5 hour work day? [32:24] Tell me about some of the productivity hacks that your team discovered?  [33:45] Why did you shift to 5 hours days in the summer only? [34:20] What was the impact on recruitment and retention? [35:30] How has it evolved since and why? [36:51] What advice would you give to others thinking of trying it out? [39:10] What is your best advice for today's entrepreneurs interested in building a direct to consumer company? Resources link can be found http://brightideas.co/stephan-aarstol-interview/