💪 From Passion Project To An 8-Figure Business with Gloria Hwang, founder Thousand
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Hey, It's Alex!
🍵 Here's Your Weekly Tea
This year, I started quarterly recharges. Instead of waiting for one big vacation, I take breaks quarterly. This started last December because I was extremely burnt out. It wasn't my first rodeo either. This time was different though. My therapist looked at me and said "you're on the brink of depression so you get to decide." So I decided to prioritize myself. More importantly, I had to tell my team why and model the behavior. That was a game changer. This week I'm recharging while my team holds it down and only doing what I want. How do you recharge?
Let's get into your weekly briefing!
💸 HERE'S YOUR TRACTION BRIEFING
Founder: Gloria Hwang | Company: Thousand | Location: Los Angeles, CA
Receipts:Turning a passion project into an 8-figure businesses is unheard of but Gloria Hwang was able to do this by creating a product and community rooted in forming the right partnerships and relationships.
Here's your traction playbook...
How to Define Your Target Market
Go Beyond What Your Competitors Are Doing: While the bicycle helmet market was declining, Thousand wasn't focused on enticing the existing customer base. Their focus was on appealing to the 60 to 70% of bicycle riders who were not already wearing helmets. By focusing on this market, they molded their brand in a way that was uniquely appealing.
How To Create A Community Around Your Brand
Define Your Values: A big factor that catapulted the growth of Thousand was the strong community that they created. Sounds familiar? Their community of customers acted as advocates and salespeople. Part of creating a solid community is having clear values that you actively practice and stand for. It's also advocating for your customers and putting their needs before your sales goals.
How To Find The Right Distribution Partners
Build Relationships From The Onset: "I rarely asked for the sale in the beginning. But because I built good relationships and they saw the quality of the product, they brought us in. So for me, trying to get to know people better built a good foundation for great long-term relationships." - Gloria Hwang. In the rush and urgency of making a sale, a lot of entrepreneurs might forget to foster and steadily develop meaningful relationships along the way. People are more willing to do business with people who they can relate to.
Support Gloria in Scaling Impact: Visit Thousand and find something you and/or your loved ones would be interested in.
TRACTION TOOLS: How to get it done...
Fearless Fund's Education Day: A hybrid experience tailored towards educating founders on everything about VC and entrepreneurship. Get your tickets and more info here.
How To Build Partnerships: Find out here how Maria Po Campo built partnerships to help her scale her own micro-mobility movement.
Build A Strong Community: Here's how to build a meaningful and massive community for your brand - even with limited budget.
Master Large-Scale Distribution: Here's how Tanya Van Court mastered large-scale distribution with limited money in the bank.
Define Your Market: This playbook helps you define your market and the jobs they're trying to get done.
Nail Sales By Building Relationships: Here's how you can increase your sales by building relationships.
How to Network and Build strong relationships here.
JOIN THE COMMUNITY: Join our community membership waitlist here.