Startup Advice from Bonobos Founder Andy Dunn

Offering equity to key partners can accelerate growth.

"It's better to dilute your brand by giving the equity to someone like that than running Instagram ads."

• Andy suggests strategic equity partnerships over paid advertising. • Highlights the long-term benefits of aligned partnerships.

Worry less about others' opinions to focus on what's important.

"Just to worry a lot less about what other people think."

• Andy advises focusing on personal judgment over external approval. • Encourages making decisions based on company needs.

Addressing personal challenges can lead to new business ideas.

"I had no guy friends for the first time ever...And that led to the formation of this new company Pi."

• Andy illustrates how personal needs can inspire entrepreneurial ventures. • Emphasizes the value of building community.

Practical steps towards better health can improve founder performance.

"I would get tactical with my advice. I would say Stop glamorizing low sleep."

• Andy stresses the importance of sufficient rest. • Recommends practical health measures to enhance productivity.

Being less concerned about being liked can help in decision-making.

"I think for a long time I wanted to be liked. So badly. That I was not able to make the tough organizational decisions fast enough that I need to make."

• Andy underscores the need for candor and courage. • Suggests prioritizing company needs over personal likability.

Focusing on wholesale channels can lead to better growth opportunities.

"I would put all my energy into wholesale if I were you. Let's go get Whole Foods."

• Andy advises prioritizing wholesale over online sales. • Emphasizes leveraging existing distribution networks.

Rethinking competitors can reveal niche market opportunities.

"What if you took a risk here and try to think of your competitors not as the cocktail that people are going to have at the bar, but as like Jagermeister or Frene..."

• Guy suggests repositioning the beverage as a digestif. • Highlights the importance of finding a unique market position.

Differentiation through storytelling and brand identity is crucial.

"I love the brand identity...I feel like you're kind of good at this, like building in public storytelling about the ingredients."

• Andy emphasizes the power of unique brand stories. • Encourages founders to leverage storytelling to engage customers.

Identifying and leveraging fast-growing markets can accelerate growth.

"What about Pickle? What about Paddell?...I feel like there's a lot of potential with that as well."

• Andy highlights the potential in targeting sports like Pickleball. • Suggests adapting products to cater to new, emerging markets.

Unlocking growth through influencer partnerships can be key for marketing.

"I would actually encourage you to think about whether it's her or someone else giving between 10% and 40% of the company to someone like that because that's the difference between building a $50 million brand and a $5 million brand."

• Andy suggests offering equity to aligned influencers to significantly boost brand visibility. • He emphasizes the value of partnerships over traditional advertising.