Ep 328: How to Scale Customized Products With Niklas Hedegaard, THEMAGIC5
Custom products are the future. People will be looking for products that are made to fit them perfectly, but how are custom products scaled in this day and age?
In this episode, Jordan sits down with Niklas Hedegaard of THEMAGIC5 and talks about how their company is scaling massively and the investments that they’re getting. Listen in and have an idea of what it looks like to take on investors and have beneficial relationships with them.
Enjoy this episode!
KEY TAKEAWAYS FROM THIS EPISODE
Custom products are the future.
To keep the customized product's cost low, 95% of it could be standardized and 5% could be customized.
Paid media is still working for eCommerce in 2022.
Relationships differ from investor to investor. They all have specific capabilities and things that they want to do to help companies.
If you are doing the right things and you have built up a team that trusts you, having investors doesn't feel like you have a horrible boss but feels like they are there to assist you.
Have people who are huge in the space and have massive influence work with you.
Understand the metrics, attributions, and where you should and shouldn't put your money.
Try not to micromanage. Test everything and see what works.
Recommended Tool: Triple Whale
https://www.triplewhale.com
Recommended Podcast: Lex Fridman
https://www.lexfridman.com/podcast/
Today’s Guest:
Niklas Hedegaard is one of the founders of THEMAGIC5.
THEMAGIC5 provides customized swimming goggles for every individual.
Connect and learn more about Niklas and THEMAGIC5 here:
Website: https://www.themagic5.com
Linkedin:
https://www.linkedin.com/company/themagic5
https://dk.linkedin.com/in/niklas-hedegaard-67554798
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