294: From Losing $500K to Making $1MM: How Kindred Bravely Went from Bust to Booming
Losing half a million dollars in one year can be a devastating blow. Find out how this company turned things around to become the 20th fastest growing company in the US. Garret Ackerson is the cofounder of Kindred Bravely - a privately held company that has experienced the highs and lows associated with rocketship growth. Garret did a live training for Coalition members last fall, and I'm sharing it with you now because it’s truly a transparent and sobering look into the ups and downs of a fast-growing company. Garret dives into the importance of knowing your numbers, making KPIs a team event, and why founders should carve out time and space to think. He also shares why he's never scared to invest in learning, how to build a flywheel, and find the right partners for your business. If you're a founder or someone who helps eCommerce businesses grow, this episode is a must-listen. Enjoy! Episode Highlights 4:02 How Kindred Bravely first started in 2015 7:02 The KPI system Kindred Bravely uses that promotes ownership 14:42 Why you should always schedule time to think 16:53 Why you should never be afraid to pay for learning 19:39 How to debrief and implement your learnings 22:26 The only two functions of your enterprise 27:30 How to start thinking and dominos and why you want should 28:46 Why you need to create a flywheel 34:52 What Garret’s thinking routine looks like and the questions he asks himself 36:19 The first hire that Kindred Bravely made and why 38:37 How to create a flywheel in Shopify 43:17 The most important part of capital management 47:00 Kindred Bravely’s financial reporting rhythm 51:18 The best way to have successful relationships with agencies 53:35 How Garret structures business goals and sprints Links and Resources: Kindred Bravely The 4 Day MBA Vistage Dan Sullivan’s Impact Filter Kolbe Index Brand Growth Experts The Coalition @a_brawn on Twitter Review or subscribe on iTunes