In this episode of The First 100 Freddy Shelton of the Fifth Marketing interviews Scott Paul, CEO of Wooly. Tune in to learn about simplifying your message, building a team to support your growth, and advice for the upcoming entrepreneur.
Scott Paul is the CEO of Wooly, a husband, father of three daughters, investor, owner of four sheep, one unicorn-looking goat, seven chickens, and +1,000 fish in his pond in Heber, Utah. He has worked for Disney, been a part of three exits, and has participated in 43 angel investor deals.
Wooly began operations in 2017 and specializes in giving brands more insight into who their customers are as well as helping manage brand ambassador programs. Their software is used by Arcteryx, Wilson, Marmot, Cotopaxi, Purple, 1 800 Contacts, Kemper Snowboards, and many more.
About half of Wooly’s customer base came through customer referrals. As an employee would leave a company that used the Wooly software, they would refer it at the next company they worked for and so on. Of this process, Scott said, “Referrals are a bi-product of a good product and time. They are the best type of sale, but the least controllable. Bring on your first 20 customers and your product should be able to multiply that by 5.”
How to make a good product is a conversation for another podcast, but when attempting to grow your company, Scott recommends asking yourself these questions:
- Who is your customer?
- Is your product easily made or implemented?
- Can your company withstand taking on more customers?
- Does your product have a long or short sales cycle?
Depending on how you answer those questions may depend on how long it takes to obtain 100 customers.
“Simplify. Whether it is a pitch deck, proposal, resume, sales email, etc. If you can fit that message into 1-2 sentences, you're going to win.” A tweet has 280 characters. For a busy CEO, an effective message is just as brief.
Contributors
Guest: Scott Paul, CEO of Wooly
Host: Freddy Shelton, Founder of @TheFifthMarketing
Audio edits by Casey Yardley
Show notes by Mason Smith