Entrepreneurship Unveiled | Taylor Offer from FEAT Socks

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By Cody of Fly to FI and Justin aka Saving Sherpa, Cody of Fly to FI, and Justin aka Saving Sherpa. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

In today’s episode, Cody and Justin are joined by Taylor Offer from FEAT Socks.

This 26-year-old has been making millions since he was 22 from selling socks.

Yes, you heard us right…Socks. But FEAT Socks aren’t your average socks and Taylor isn’t your average entrepreneur.

Taylor gave up a prestigious investment banking internship to follow his dreams and create a business.

There was failure and even an unhealthy amount of success. Today Taylor has streamlined business and his life and ready to show you how.

Listen and read below to hear his amazing journey.

Episode Summary

  • We welcome Taylor from FEAT Socks
  • This business now makes millions annually
  • From a young age, Taylor was fascinated about price arbitrage — this is where you can buy something and sell it for a big markup
  • Taylor doesn’t remember one moment that made him interested in money
  • He was more focused on value even as a child
  • Going into college he was only focused on a lucrative degree
  • He got a coveted internship in banking
  • Then realized how unhappy everyone in this business was
  • That made him realize that entrepreneurship was going to be his path
  • People were hard on him for dropping his coveted internship
  • His first business venture was a marketplace for college kids
  • It was called Market Loco and got over 500k hits in a month
  • The infrastructure costs were too expensive, so it failed
  • His next venture was making custom print t-shirts for frats / sororities
  • He started door-to-door but did a huge cross-country spree
  • It was really successful at the beginning and seemed too easy
  • Then one of his orders got ruined by the manufacturer on a $7k order
  • Taylor realized custom business was really tough
  • Great quote – “There’s a million ways to get it wrong, and only one way to get it right”
  • He meets his soon-to-be business partner his senior year
  • His partner parker had done $1M+ in custom lacrosse jersey sales
  • They brainstormed and settled on crazy socks as the next idea
  • This would become FEAT Socks
  • They sold $2k worth of socks out of a backpack on campus the first day
  • Over their senior year they sold 20k pairs of socks
  • They were making these by hand with a heat press
  • Eventually they hired out college friends
  • Imagine college kids in an unheated workspace, drinking and making socks
  • They really grew their list through Instagram and Facebook
  • Things really turned when they got their angel investor
  • Overnight they get $250k as seed money and FEAT Socks is legit
  • Then through some connections they get Aly Raisman as an influencer
  • It was during the Olympics and she sells $500k worth of socks and FEAT Socks goes viral
  • Originally, they were going to give away 50% of the company for $50k
  • Instead they raised the $250k at a $1.5M evaluation
  • Then we start talking about how the business got away from them
  • At age 23 they are making millions, move to LA and hire 20 entry-level employees
  • They get a 5k square foot warehouse all decked out
  • Taylor and Parker get named to Forbes 30 under 30 and life seems perfect
  • Then, their logistics company misses Christmas delivery dates for a ton of customers
  • They also spiraled into depression and worked 16 hour days all week
  • Taylor just broke down one day and took a one way to Thailand
  • He saw these poor kids in the streets who were happy
  • That moment made him really realize what was important
  • They also realized they had $75k in overhead — this caused them to let go of more than 75% of their workforce and to automate everything
  • It was cheaper, better quality, and way less stressful
  • FEAT is now very successful with only 1 hour of work per day for the founders
  • With FEAT Socks running on its own, they started a marketing company
  • Taylor actually has like three other businesses going on (serious entrepreneur!)
  • He feels like he’s happy but always finding the balance
  • Oh, and not to mention Taylor was featured in a Justin Beiber video! (Check it out here at 4:34)

Key Takeaways

  1. Don’t get greedy: Taylor was lured to the a major only because of how much money it would make and almost ended up miserable
  2. Always be ready: Taylor constantly had 6 pair of socks ready to sell. That’s what made FEAT Socks successful
  3. Misery isn’t selective: It would be easy to be jealous of Taylor but realize that depression can come calling for any of us

Call to Action

Go automate your life and reduce some stress.

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Contact Taylor:

Via his business Instagram

Via his personal Instagram

Connect on LinkedIn

Check out his businesses:

FEAT Socks

My Last Bottle

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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