Episode
#28 - Building Big Ass Fans For Big Ass Money
43:28
Published: Wed Nov 27 2019
Description
Carey Smith sold Big Ass Fans for Big Ass Money. As you can probably tell, he found a way to make ceilings fans sound sexy, but more importantly a sexy business. Find out how this unconventional self-appointed CBA (Chief Big Ass) turned a failed bootstrapped Mom & Pop into a 1,200 person $500M giant. Hear him talk about re-branding his company name to include ‘Ass’ & how that changed his entire business’ trajectory, a random meeting that turned into selling for half a billion dollars, writing $50M worth of checks to his employees after the sale and how the secret to making money isn’t to make money. Like our podcast? Join our Facebook group to share feedback, ideas and advice so we can all make that first million: www.facebook.com/groups/ourfirstmillion. See acast.com/privacy for privacy and opt-out information.
Chapters
HubSpot CRM provides all the tools you need to automate tasks, keep track of information, and efficiently manage your team, all while being budget-friendly.
00:00 - 01:00 (01:00)
Summary
HubSpot CRM provides all the tools you need to automate tasks, keep track of information, and efficiently manage your team, all while being budget-friendly. On the other hand, it is common for entrepreneurs to encounter obstacles, such as misunderstandings from potential customers who doubt the efficacy of expensive products they are selling.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
Big Ass Fans specializes in manufacturing and selling ceiling fans ranging from six to 24 feet in diameter and have developed air foils that move air at a low speed.
01:00 - 07:54 (06:53)
Summary
Big Ass Fans specializes in manufacturing and selling ceiling fans ranging from six to 24 feet in diameter and have developed air foils that move air at a low speed.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
The co-founder of Big Ass Fans, Carey Smith, shares how the provocative name of his company helped him to generate buzz and increase sales, despite some initial pushback.
07:54 - 16:19 (08:25)
Summary
The co-founder of Big Ass Fans, Carey Smith, shares how the provocative name of his company helped him to generate buzz and increase sales, despite some initial pushback. He emphasizes that in marketing, balance is key.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
The founders of Big Ass Fans share their experience of building a successful business by focusing on the customer rather than just making profits, which led them to prioritize the quality of their engineering and product development.
16:19 - 23:33 (07:13)
Summary
The founders of Big Ass Fans share their experience of building a successful business by focusing on the customer rather than just making profits, which led them to prioritize the quality of their engineering and product development.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
The speaker reflects on his experience of writing big checks and providing stock options for his employees when he sold his company.
23:33 - 27:24 (03:51)
Summary
The speaker reflects on his experience of writing big checks and providing stock options for his employees when he sold his company.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
In this podcast, the speaker highlights that in a private equity perspective, the companies want to have control over the number that they're offering to buy a company for.
27:24 - 31:02 (03:37)
Summary
In this podcast, the speaker highlights that in a private equity perspective, the companies want to have control over the number that they're offering to buy a company for. Additionally, he explains his plan to sell the thing in 60 days or just shut the company down and go do something else which forced these people to offer a definitive number within that 60-day period.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
The founder of a business discusses how he built a successful company, focusing on unique values like paying employees more than market rates and sharing $50 million with instrumental staff, rather than relying solely on financial strategy.
31:02 - 36:18 (05:16)
Summary
The founder of a business discusses how he built a successful company, focusing on unique values like paying employees more than market rates and sharing $50 million with instrumental staff, rather than relying solely on financial strategy.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
The success of plant-based meat alternatives can be attributed to their focus on educating the market and targeting a large portion of consumers, rather than solely focusing on profits and funding.
36:18 - 42:29 (06:11)
Summary
The success of plant-based meat alternatives can be attributed to their focus on educating the market and targeting a large portion of consumers, rather than solely focusing on profits and funding.
Episode#28 - Building Big Ass Fans For Big Ass Money
PodcastMy First Million
Terry Gross interviews Caryn Marooney on Unorthodox Ventures, a boutique venture fund for underrepresented founders.
42:29 - 43:18 (00:49)
Summary
Terry Gross interviews Caryn Marooney on Unorthodox Ventures, a boutique venture fund for underrepresented founders.