dlyohn notes & quotes from asi action sports & apparel innovator panel

notes and quotes from ASI Action Sports & Apparel Innovators Panel11.16.09

the entrepreneurs behind four of the most exciting brands in

action sports shared their business-building advice with

students –

here’s what they said…


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Panelists:• Brian Enge, CEO of Zoot Sports• Andy Laats, Co-Founder and President of Nixon• Todd Richards, Olympic Snowboarder, Co-

Founder Omatic Snowboards• Beaver Theodosakis, Founder & CEO of prAna

Moderator:• Michael Brower, CFO, Triple 7 Group, Inc.


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on starting small and focused:


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“find your niche and then exploit the heck out of it”


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“try to be a big fish in a small pond”


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“make a little bush fire and then let it catch on from there”


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“start by building a leadership position in a small market – then partner with someone who can

help you get bigger”


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on fundraising and working with investors:


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“fundraising is a living business plan” (ask rejecters for advice on how to make your

business plan better)


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“choosing your investors is the most important

business decision you will make”


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“fundraising is when you find out what kind of entrepreneur you are”

(you learn what your risk profile is)


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“don’t surprise your investors”


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“take care of the people who were with you in the beginning…they will be

your biggest advocates”


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on marketing:


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“we are leaving a trail of bread crumbs for people to follow as they learn about us…we let people discover

things like easter eggs…we don’t tell everything at once”


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how to differentiate?

“it’s all marketing. kids want to associate with a name and feel they

are part of a movement.”


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“don’t talk down to your customers”


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“we were in Big 5 every Saturday talking to every skateboarder about whatever they wanted to talk about”

(be willing to do the work to build relationships with target)


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“throw anchors in the opposite direction”

(as you get bigger, go deeper with your core customers)


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on strategy:


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“there is no such thing as a defensible strategy. product innovation is our lifeblood but it isn’t defensible…it

can be copied. what works is a good strategy well executed.”


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“you may be a consumer brand but for the 1st 18 months, it’s about B2B”

(getting distribution)


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“take your core [target] on a journey with your product innovation”


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final thoughts:


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start-ups are evaluated on four P’s:1. product2. people

3. potential4. predictability


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“an entrepreneur is someone who makes money off of someone

else’s money”


compiled by denise lee [email protected]

dlyohn notes & quotes from asi action sports & apparel innovator panel

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