Manage episode 246075549 series 62727
Eric Bandholz didn’t like being put into a box.
In his former life as a financial advisor at a big bank, for example, he was expected to fit the stereotypical facade of a banker—suit, tie, clean-shaven.
He didn’t like it, so he quit.
With his newfound freedom, Bandholz embarked on an entrepreneurial journey, all while sporting a fresh, full beard. While he loved his rugged new look, he noticed it was happening yet again. This time, he found himself stuffed in a box with the likes of ZZ Top and the guys on Duck Dynasty.
Of course, Bandholz didn’t identify with any of these well-known bearded figures either. And he began to realize that other full-bearded men from all walks of life didn’t fit this mold either.
“I ended up going to this event where I sort of meet other guys like me, like stay-at-home dads and ministers, salespeople, doctors, lawyers, who are all rocking beards and they didn’t really fit the traditional stereotype,” Bandholz says. “So I was thinking about it. … Who are these people? How do I describe them?”
Seeing there was a broad community of bearded men without a home to call their own, Bandholz founded Beardbrand in 2012. Along with co-founders Lindsey Reinders and Jeremy McGee, Bandholz created a community where bearded men could unite, evolving later into a full-fledged lifestyle brand complete with their own beard care and styling products.
With an army of loyal followers on social media, which includes a YouTube channel with over a million subscribers, Beardbrand has grown into an “upper seven-figure business” with ambitions to reach eight in the near future.
Bandholz has come a long way from his suit-and-tie-wearing days.In the Beginning
In 2011, Bandholz was working for Merrill Lynch in Spokane, Washington, as a financial advisor. It was a respectable career that had a bright future and potential for growth, however, it wasn’t a future he saw for himself once he was in it full time.
Although he loved the work of financial advising and investing, it was stuffy atmosphere and the overall “bank life” that Bandholz knew was not for him. Not wanting to spend another moment in a job that wasn’t a good fit, Bandholz packed up his portfolio and moved on.
The next move?
With a background in marketing prior to his career in finance, Bandholz founded Sovrnty, a startup with a mission to help companies set up marketing automation. Although he had great plans for the business, it never took off.
“I was like one of those gurus. I’d never done it, right?” Bandholz says. “So I’m telling people to do something that I had never really done.”
Unable to sell businesses on his idea, he shifted Sovrnty’s focus to something that he was good at, which was designing and building WordPress sites. Although he was getting some business, it still wasn’t enough. He was pulling together around $2,000 a month at Sovrnty, but he was mainly relying upon his wife and her full-time job to keep the lights on.
Always searching for new clients and ideas, Bandholz was a regular at networking events. And at whichever event he attended, he was always getting called out as one of those cliched bearded figures.
The light bulb went off.
If he didn’t like to be lumped into the stereotypes about bearded men, there had to be others who felt the same. These guys weren’t lumberjacks, roadies, hillbillies, or hipsters, but how exactly would he characterize them? What would he call them?
He settled on “urban beardsmen.”
And in 2012, Beardbrand was born.
The first thing to launch was the blog, Urban Beardsman, which would become a place where Bandholz could help foster a community and connect with other men who didn’t fit the Grizzly Adams stereotype. Beardbrand would soon follow, an organization that united that community of urban beardsmen. There they could also find the tools they needed to feel confident about their beards and personal styles.
But getting from simple blog to full-fledged business proved to be a difficult task.Startup Weekend
Although Bandholz was still working at Sovrnty to help make ends meet, he had high hopes for Beardbrand. However, a clear vision on how to grow this new community was nowhere in sight.
“Aw man, it was terrible. It was just terrible,” Bandholz says. “There was just no strategy at all in those early days.”
The community was growing, but it was hardly going viral. He was posting regularly to Urban Beardsman, had a Tumblr page, and posted some videos to YouTube, but nothing was really taking off.
Despite its middling traffic, the blog was the only one of its kind back then, which by default made Bandholz an expert on the topic of beards. Because of its uniqueness, the Urban Beardsman would catch the eye of a reporter at The New York Times who was writing an article and wanted to quote Bandholz.
As Bandholz waited for the Times article to be published, he convinced friends Reinders and McGee to join him and collaborate at a Startup Weekend, where they could share their ideas on potential projects. They originally came together to work on a different startup idea that Reinders had, but it soon became clear that they didn’t have the capabilities to create her software product in house.
Needing a new business to work on, Bandholz proposed his side project.
“I was like, hey, I got this Beardbrand thing and this New York Times reporter is going to quote me in an article,” Bandholz says. “Why don’t we turn that into something?”
And turn it into something they did.
Reinders and McGee were on board, and in 2013 the business arm of the company was born. Without much capital to start making their own products—they only put $30 into the business at first—the team opted to become an ecommerce company that sold beard oils from a vendor with standard retail markups.
“When the New York Times article posted, we were able to get a couple sales,” Bandholz says. “And I think the first month we did like 900 bucks in sales. And then it was kind of like 900 bucks, 1,000 bucks, 600 bucks … 2,000 bucks, 3,000 bucks, 7,000 bucks. And then it just seemed like we got a lot of momentum into that fall season and holiday season.”
After almost seven years in business, which included an appearance on Shark Tank (spoiler alert: they didn’t get a deal), the momentum is still going strong. Beardbrand continues to grow in community, employees, and revenue, and is now located primarily in Austin, Texas with about 15 team members and 120 products sold through their website.
Bandholz, whose main focus is on the creative direction of the company, still has major plans for the future of Beardbrand. They intend to try their hands at branching out to create their own custom barbershops, where they can create the same experience a customer may see in a Beardbrand YouTube video. They do this by not only creating an amazing barbershop environment, but also by hiring the right barbers and stylists and coaching them on the information a customer is looking for when they sit in the chair.
“[Customers] can to go Great Clips or they can go to their local barbershop and get a really good haircut,” Bandholz says. “But what we want to deliver is that education similar to how we deliver it on our YouTube Channel.”
Whether it is through their popular YouTube videos, blog, or even future barbershops, Beardbrand will always work towards its core mission.
“We’re not just here trying to sell products for vanity,” Bandholz says. “We believe that when you invest in yourself, you become a better person and you make the world a better place. You live longer. … I feel this responsibility that I’ve got to get that message out there as much as possible so that we can make the world a better place.”3 Content Marketing Tips for Bootstrapped Startups
When Eric Bandholz first started Beardbrand, cash was minimal. He was still working at his first company, Sovrnty, and was building Beardbrand on the side. They knew that they didn’t have the money to pay for marketing, but what they did have was their time to invest in content marketing. Bandholz knew that with the right content and strategy, they could reach millions of people.
“Content marketing was essentially our only option in those early days,” Bandholz says. “We didn’t have cash to put into the business. So it started with sharing our story on Reddit. It started with, you know, reaching out to people on Twitter and sharing our product with influencers and not paying them for it.”
Being proactive with their content marketing strategy in the beginning was a key component of Beardbrand’s success. Here are three tips to help your startup bootstrap using content marketing.
Get Started, But Be Patient
Without a marketing budget, Bandholz turned to content marketing to help draw eyes to Beardbrand. It was cost-effective, with the bulk of the investment being his own time to create the content.
The trick was not only to post content and to post it often, but to also know that in the beginning, you won’t get much of a return on your investment. Content marketing is a long-term play. The first step is to just create something. Anything.
“While it does build up over time, it also doesn’t do anything in the beginning,” Bandholz says. “And you really have to like… stoke that fire and get it going. And you get it going by creating, you know, 20 or 40 or 50 pieces of content that start to build that foundation.”
Do What You Like To Do
With so many different funnels and channels to produce content for, it can be intimidating on deciding where to start. According to Bandholz, the type of content you should produce first should be for the channel you’re most interested and passionate about.
“I think you look at yourself and what you like to do,” Bandholz says. “Are you more of an audio person? Then maybe podcasting’s the way to go. Are you more of a writer, you know, introvert? Do you like to express yourself through words? Then blogging is a great way to go. Then, of course, if you’re narcissistic like me…then video is a great source for you.”
The more passion you have for a certain medium, the more likely you’ll churn out content and stick to the long-term plan.
Not all content is created equal, and it’s important to understand the goal for each piece of content you create. At Beardbrand, they use the sales funnel model, where their “content at the top” is there to bring awareness to the brand, the “middle” is used to introduce the products, and the “bottom” hopefully helps to turn the reader into a buying customer.
“Sometimes we have content that is there to inspire people,” Bandholz says. “You know, it’s not going to drive any sales. It’s just there to help build awareness to the brand. And then other good content is stuff that drives sales and gets engagement, or gets people talking and spreading the word.”
By diversifying the types of content you create, you enhance your chances of attracting different types of readers and content consumers on different platforms. As Bandholz says, as a creator, you don’t know exactly what part of the funnel really “helped them become a customer.” For instance, the customer may have first learned about your company through a YouTube video, but it was perhaps the blog or an email newsletter that really got them to trust you and that turned them into a paying customer.
Whichever type of content strategy you decide to implement, one thing is for certain—just get started. You never know who is reading.
Interview by Nathan Chan, feature article reprinted from Foundr Magazine, by Nick AllenKey Takeaways
- What drove Bandholz from his career as a financial advisor
- Why his first startup Sovrnty failed to take off
- The lightbulb moment that inspired Bandholz to launch Beardbrand
- How Bandholz leveraged content marketing to grow his business on a tight budget
- The struggle to grow the community into a full-fledged business
- How Beardbrand eventually caught the attention of The New York Times
- The partnerships that helped Bandholz start selling beard grooming and styling products
- From investing $30 into an ecommerce business to making 7 figures
- What Bandholz envisions for the future of the company