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From a PAIR OF SHORTS to a $45 Million Ecommerce Business
This is the New Money Talks Newsletter, the newsletter packed with entrepreneurs' personal stories, financial tips, and more!
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Imagine starting your own business WITH JUST $100.
That's exactly what Preston Davis and Tom Montgomery did when they founded Chubbies in 2011.
Davis and Montgomery were inspired to start Chubbies after struggling to find shorts that fit well and were comfortable.
They wanted to create a pair of shorts that were perfect for any occasion, whether you were hanging out at the beach or going out to dinner.
But as you know starting a business is NEVER easy.
There were plenty of difficulties along the way for Davis and Montgomery.
One of the biggest challenges for Davis and Montgomery was funding their business.
They didn't have any investors, so they had to bootstrap the entire operation.
This meant that they had to be very careful with their money and make sure that every investment was worthwhile.
Another challenge for Davis and Montgomery was product development.
It took them a lot of trial and error to develop the perfect pair of shorts.
They had to go through multiple prototypes and get feedback from customers before they were finally happy with the product.
Finally, Davis and Montgomery had to figure out how to market their product on a shoestring budget.
They didn't have the money for traditional marketing campaigns, so they had to rely on creative and innovative ways to reach their target audience.
Despite all of these challenges, Davis and Montgomery PERSEVERED.
They were determined to make Chubbies a SUCCESS.
They started small, selling their shorts online and at local markets.
They used social media to connect with their customers and build a community around their brand.
Over time, Chubbies began to grow.
The company's shorts became known for their comfort, style, and durability.
Chubbies became known for its unique brand and its commitment to its customers.
Today, Chubbies is a multi-million dollar ecommerce business. The company sells its products to customers all over the world.
So, what can we learn from Chubbies' success story?
Here are a few valuable lessons:
Don't be afraid to start SMALL.
You don't need a lot of money or resources to start a business.
Davis and Montgomery started Chubbies with just $100.
Be creative.
There are many ways to market your business on a budget.
Davis and Montgomery used social media and word-of-mouth to reach their target audience and build their brand.
Focus on your customer.
What do your customers want and need? Davis and Montgomery were always focused on their customers.
They listened to customer feedback and made adjustments to their product line and marketing campaigns based on what they heard.
Be PERSISTENT.
Starting a business is not easy.
There will be challenges along the way.
But if you are persistent and never give up, you will achieve your goals.
Davis and Montgomery's story is an inspiration to us all.
It shows that ANYTHING is possible if you are willing to work hard and never give up on your dreams.
And remember that if you don’t see the results right now just don’t give up, as Preston Davis said:
"The journey is the most important part of the process. It's not about the destination, it's about the lessons you learn along the way."
Tweet of the day
everyone always talks about their life as if its a movie and theyre the main character
but in every single movie theres a part where the main character gets absolutely destroyed
just bent over and pounded repeatedly
but they turn that pain into passion and use it to overcome… twitter.com/i/web/status/1…
— Luca (@lucawashenko)
2:06 PM • Nov 15, 2023
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See you on Wednesday :)