Hosted By

Rabah Rahil
CMO at Triple Whale

Guests

Davie Fogarty
Founder of The Oodie

How To Build Million Dollar Ecommerce Brands W/ Davie Fogarty

In this episode, we sit down with the LEGENDARY @Davie Fogarty as e explains his story but more importantly, his process for building brands.

Notes & Links

šŸ¦ Follow us on Twitter for Industry insights https://twitter.com/triplewhale

Follow the people featured in this episode here:

- Rabah's Twitter: https://twitter.com/rabahrahil
- Find Davi Here: https://www.youtube.com/c/DavieFogarty

Transcription

Davie Fogarty (00:00:00):

Us is absolutely overrated for eCommerce. Like just launch your business in any other market. And you'll probably do better in the short term.

Rabah Rahil (00:00:14):

Well, I'm pretty, pretty happy with Colin on this one. Um, he was able to grab a legend, the power from down under Dave Fogerty. Welcome to this show. How are you? My friend?

Davie Fogarty (00:00:27):

I'm going very well. How are you?

Rabah Rahil (00:00:29):

I'm doing well. I'm I'm, it's actually, we, um, won the beauty of the internet. How we can connect a BA. This is, I'm pretty sure this is definitely the farthest. I think I had a, um, someone in the middle east, but this is way farther than the middle east. So this is definitely the furthest we've done. You have a fantastic internet connection, which is great, but we have an inversion I'm over here melting in Austin and you're freezing in Australia.

Davie Fogarty (00:00:52):

Yeah. It's, it's crazy how that works. I'm actually flying over to, to Oregon on, on Monday. And it's a, it's a very big track. It's a big, big track, but very well worth it.

Rabah Rahil (00:01:03):

Do you go east or west or do you just keep going rust around? Cuz Oregon is closer that way, right?

Davie Fogarty (00:01:09):

We go west generally to the flight LA

Rabah Rahil (00:01:13):

Into LA.

Davie Fogarty (00:01:14):

Yeah. And then it's like, I think it's a 20, like my last flight to Oregon was 26 hours all up, but I was four connecting flights and it was, it was pretty full on, but oh

Rabah Rahil (00:01:25):

Man, man, that's brutal. I

Davie Fogarty (00:01:27):

Enjoy, I enjoy traveling. It's just, it's good to, you know, you get some reading down it's it's good. Fun.

Rabah Rahil (00:01:33):

Do you have any tips? I got, I just went to Barcelona and I got wrecked by jet lag. It was weird though. Cause I had went to Dubai in Israel and those were more like 12 hours ahead. Didn't throw me off that much, but Baro was like seven hours ahead. The city goes late. It literally took me like five, six days just to get my feet under me there. I usually don't get paddled too much with that, but how are you doing it with your, I mean, those are massive shifts.

Davie Fogarty (00:02:00):

Yeah. It's, it's obviously easier when you're front a little bit and able to sleep. Um, but bosses. Yeah. Crazy, crazy difference. Cuz they just, they, they kind of nap through the day don't they? And it's just like the whole thing is just thrown out. But yeah. Look, I just, I, I don't try not to drink on the plane. I, I feel like that helps a big time and just trying to eat healthy and you know, chatted time in, uh, sleeping as well.

Rabah Rahil (00:02:26):

Do you spring for the fancy seats? See, that's the one thing I did when I flew to Dubai, I got like the little fancy seat and had my like sleep and it's amazing. I got the, just the re seats going to Barcelona this time and wrecked me. I think that's money well spent. Right?

Davie Fogarty (00:02:41):

Yeah. Look that that really does help cause you actually get a good night's sleep. I, I, um, I didn't realize that there that most businesses, you know, when they get to a certain size, which is to a, a cash back card <laugh> so I ended up racking up like 95 million annex points that I've just got sitting there that I just dunno how to spend. So I kind of <laugh> it's it should all be cashed. It was pretty bad move on my part, but we were running, we were running pretty quickly, uh, last couple of years and I just kind of missed that step

Rabah Rahil (00:03:14):

<laugh> that's amazing. What's the, uh, biggest point purchase you've made?

Davie Fogarty (00:03:20):

Uh, I literally don't even know. Uh, it's just, just travel. Yeah. Just travel when you don't get the rewards flights, it does cost a fair bit to, to book a business class flights return, especially from so far away, you know

Rabah Rahil (00:03:33):

That and you fly outta Adelaide or you fly to cause that's a pretty big one, right? It's Adelaide, Sydney, Melbourne

Davie Fogarty (00:03:41):

Adelaide's yeah, down south. It's kind of like the little brother of everything. There's not much going on and um, compared to Sydney and Melbourne, so generally international flights you'll have to fly into Sydney or Melbourne and then catch a catch a proper flight from there.

Rabah Rahil (00:03:58):

So how did you take on the internet in being such a, is there a big entrepreneurship community there or, I mean, I would think it'd come outta Sydney or Melbourne. Right? Cause there that's a, those are proper business communities. Yeah. Or

Davie Fogarty (00:04:10):

Yeah, you look, it's definitely the culture in Melbourne is, is far more like, you know, the us entrepreneurial, uh, you know, those, um, espressos and whatnot working out

Rabah Rahil (00:04:23):

<laugh>

Davie Fogarty (00:04:24):

Uh, but the, but you know, Adelaide probably is underrated. Uh, it was only until, you know, I started businesses that I realized that there's actually some really successful eCommerce businesses. You know, what life right away, these guys like kind of gym brands and they they're doing amazing job as well. So we've got a very small community that, that helps with obviously finding talent as well. Uh, in Melbourne it's much, much more competitive for talent, but we haven't offers both in Adelaide and Melbourne to try to, you know, there's definitely a different kind of skill set, maybe a more technical skill set in, in Melbourne, not to say that we haven't found amazing technical people in Adelaide, but it is really interesting how those two different cultures kind of manifest different types of talent.

Rabah Rahil (00:05:09):

That is interesting. Um, have you been in Australia your whole life or have you lived anywhere else? Cause you're fairly young, right? You're a 25 going on

Davie Fogarty (00:05:17):

26, 20, 27 getting on

Rabah Rahil (00:05:20):

27. Oh man, I need to, what's going on? My assistant's given me this, this, this terrible, terrible brief. What's going on here?

Davie Fogarty (00:05:26):

I just, I just lie on Wikipedia younger.

Rabah Rahil (00:05:31):

No, no.

Davie Fogarty (00:05:33):

Um, yeah, I'm I'm 27. I have, I, I, I lived in Melbourne for a year, just that's where I learn E I'm sure. Get into that soon. Um, and then I, you know, miss my, miss my, um, family and friends and stuff too much. So I ended up coming back and probably would be an Adelaide boy for the rest of my life. To be honest, it's such a simple, simple place to live cheap place to live. It can get anywhere in 20 minutes. Good beaches. So what more could you want?

Rabah Rahil (00:05:59):

There you go. Bash BOSH. I love it. So yeah. Talk to us a little bit about the entrepreneurship. I was doing some research on you. You're upwards of 10, 12 companies you founded so far. You, you had some weird little tie of Vietnamese bread roll shop. You had a seasony business, an iPhone case brand. You did some personal training at one point. Like how, how did you get in all this? Where did it start? Was it like a family thing? Was it just, I watched the internet video and now I'm gonna do this or like give us some background.

Davie Fogarty (00:06:30):

Yeah. You bring up some scars there, but get into it. The um, yeah. So I guess going, going back to school, I, I don't know where, you know, my ambition came from. I think it is a family thing. I think when, you know, grandpa started a, a small furniture business, local furniture business, and I was always surrounded by that, uh, entrepreneurial side. I, I think being exposed to that at a very young age is very helpful. You know, I wasn't, you know, we weren't, I didn't get given everything to me in a very early age, which made me very, very ambitious to, to get it for myself, which I think was really, really important. And then yeah, during school, I kind of just, you know, there's a embarrassing video of me going on stage in, um, in year 12 when I graduate saying that I wanted to be a billionaire when everyone else was like, they wanna do like this, this in university and stuff like that.
So I, I honestly couldn't even remember that, but I think it, it just reminds me that, you know, I have been like this for a very long time, ended up trying university mining engineering. Um, also tried marketing as well, founded both of those, which is ironic. Then, uh, after that, um, all, all in that time I was actually growth hacking Instagram. So we're just using like a shout for shout method, growing niche pages. Um, and I was selling them off and selling promotion on that. I think that that's actually quite a common thing. I'm not sure if any of your other guests have actually been involved in the stages of Instagram, but it was, you know, addictive. It taught us a lot of skills. It taught us a lot about the algorithms underneath these platforms. Um, it's either that or gaming. Right? Yep. And then, um, yeah, so basically after that I went to, um, yeah, I started, I was like, did what any entrepreneur did and should, should do. And used all my profits to launch a Vietnamese roll shop <laugh> and that did not go well. Uh, so $5 roles that cost four 50 to make, it was not a good business model. <laugh> um, what was it called? Did not losing it was good street roles.

Rabah Rahil (00:08:39):

That's not horrible. That's not terrible, man.

Davie Fogarty (00:08:41):

Yeah. It's not horrible. But the, the logo was like, it was like, I just used a logo generator. Yeah. It was so bad. <laugh> oh, I got some <inaudible> but yeah, I, I was there 12 hours a day, seven days a week, just cooking pork rolls and <laugh>, um, lost my minds bit, which, but, you know, all, all in all the same time I was doing Instagrams all granted, you know, there's been, um, been people out there that were growing at Instagrams at the same time as me that, you know, uh, that company's over 50 million value now. Uh, like, so realistically that was my probably opportunity to, to achieve something big. But I, um, yeah, I did the wrong thing. I wasn't measured about it. I wasn't structured about it. I, there was a lot of doubt at that stage where, you know, and this is a good lesson around surrounding yourself with people that understand, or at least exposing yourself to people that understand, you know, like I was, my only exposure was, you know, my, my parents and a couple of, you know, older entrepreneurs that just didn't really understand the internet.
And, um, you know, they're great, great at business in, in, in, in their field. But they, they basically said, look, this is a fad. Like, how are you even gonna tax it? Like what is going on? And, um, back then there was a lot of uncertainty around it. So it's easy to look back what what's happened, but yeah. So, um, out of fear, I, I sold and, you know, I have almost sold so many of my businesses out of fear is just before they take off. And that one I actually did. So, um, yeah, a couple of lessons there as well, ended up, um, yeah, going to Melbourne for a year running, you know, influences and running a consulting side of things for a couple of other brands and then ended up launching calming blankets, Woody pop naps, and, and a couple of other brands as well.

Rabah Rahil (00:10:32):

How did you find a time to do, do you have like a little framework or something that you run in your head? Like a, because when I start to think of business, I'm like, like the old people that you're talking about, like, oh, D this is gonna not work. This is what's not gonna work, blah, blah, blah. And so my head always goes to like, how do you see where the market, like, where you see the product market fit or what product that you're thinking, what's the business model you want to use? What's your go to market? How are you gonna distribute all this stuff? Like, is that in your head? Or is it just intuitive where like, people are just want a big fucking blanket to wear and I'm gonna print money with it. Or like how <laugh> cause like, right. Like how do you come to these things? It's, it's incredible. Like, because you have multiple, you have a bazillion, so is there like a method to the madness or you just kind of happenstance?

Davie Fogarty (00:11:14):

So I would love to say that was a method to the madness back in the day, but it wasn't, it was just like, it must somewhat intuition, but the good news is like, I, I, we, we got very lucky. Like I'm not, I'm not going to pretend that we didn't. Um, you know, if I didn't apply a framework to, to that thinking, then a lot of it should be designated to luck. You know, I think, um, I think the beauty was, and, and I, I hit three winners in a row, you know, coming blankets was doing over 20 million. Um, UY, you know, does over 150 million. Um, and then pop apps, you know, in its seventh month was doing a million dollars a month sale. So it grew very quickly. And that was the three that was the three we, I started with. And, and in, you know, in hindsight, this was wrong thinking, but I was just like, oh, this is easy.
And it, the truth is it's not easy. We all know that now. Like, I, I, I think, um, there was lots of things that I underappreciated obviously, well, this was pre COVID all of those launches, but, um, the, the industry was definitely easier and finding these products, but the beauty of, uh, my, my point was that by finding, you know, three winners or, or four winners were able to, I was able to create a framework, which I now use. Ah, so there was that positive <inaudible> and then, um, you know, and, and then I hit a lot of losers, you know, I I've hit a lot of bad products after that. It was probably like three or four in a row, and now we're hitting winners again. I, I, I really just kind of took all those learnings and I actually just built it into a tool.
Um, it's called trend rocker. It's like a, a piece of sass. Um, it's kind of, you know, it it's very similar to, um, it, it kind of combines the best features of a lot of the, the SPS out there, but then it also integrates with like supply chain, because one of my main lessons, which is part of the framework is really around, um, fragmentation of marketing competitors. So I don't think people really appreciate the, the effect that one competitor, one digitally savvy competitor can have on your CPMs and your, your C when, when they enter your market on Facebook. Like it's, if I, if I break down all three of my successful products at the start, there was literally no competitors running that product in, in, in, in the regions that I was doing it. So it, it, and that's very, very hard to find cuz you need to be very early, right.
There's a good Ted talk talks about the key fundamentals of what, what makes a good startup and you know, is funding, is it people, is it talent? No, it's, it's actually just timing most of the time. So that I think that that applies very much so in, um, the digital landscape as well. Um, so that, that's really what I'm trying to incorporate. How do you understand trends at a global level, understand the digital landscape incorporate supply chain, so you can understand gross margin and ensure you have the, the room to market and grow and then, you know, and then it becomes subjective. You know, what is the total addressable market? Is this a, is it a hundred million dollar company or is this a 5 million niche company that's good for a, a first timer? You know, that, that, that those are the kind of questions that will probably always be ambiguous until, until tested.

Rabah Rahil (00:14:33):

I love that, man. That what's this called again? I'm gonna have to sign up. This is

Davie Fogarty (00:14:37):

Check rocket it's it's it's, it's still, it's still really new. We only went live last month. Um, but yeah, check, check it out and know what you think, um, where, uh, I I'm, I'm, I'm really excited because I, I, I really do think we can systemize finding, you know, massive trends. Obviously the, one of the key things, when, you know, when, when I'm talking about being unique and, um, in a market is so, so critical, it, it is really important to differentiate the product as well. Cause that's, that's essentially, what's, what's going to create that, that room to grow and that, that, that opportunity to get into different in front of different customers as well. So there there'll always be that need to, to customize these things. We're finding that least we're kind of arming, arming people with data before they invest lots of money in the product.

Rabah Rahil (00:15:25):

Yeah. And in a weird way too, it's like you're giving them a more clarity on how to place their bets, which I think a lot of people like I'm dealing with some stuff right now where like unknown unknowns are such a thing. It sounds cheesy and cliche, but like not knowing what you don't know is so painful sometimes. Cuz I man, there's some weird stuff that can crop out of nowhere. You're like what? That's even a thing. And depending on your cash flow, depending on your cash position, uh, run rate, something like that, you know, you can, the rug can get pulled out from under you pretty quickly. That's really cool, man. I love that. Um, by all accounts, you're super happy, super motivated. You're super jacked. How do you stay focused? How do you fit everything in? This is something I'm, I'm super struggling with where, um, early stage startup is not a great life for, uh, <laugh> a relationship or your health or anything like that. It's kind of like this, this crying toddler that is constantly vine for your attention, your money, your time, like everything. So how, how do you balance it so well?

Davie Fogarty (00:16:29):

Yeah, I think there's a, there's a few things to break, break down there. I guess, you know, the health side of things it's, it's obviously about, uh, you know, I think it all comes down to your why and what you're trying to achieve. I think the, as soon as you can do that and effort is, you know, take, you know, triple well or something to, to a hundred million, 200 million billion. I don't know. You realize that, you know, the fitness piece fits in very well with that because you're not gonna be able to do it unless you, you know, raise a, raise a fit and, and you gotta schedule that in, um, and just get, get a bit of routine around it. Um, the relationship side of things, you know, it's, it's about if, if that is your primary objective, you know, I don't want to sound coldhearted or anything like that, but you probably don't have time for relationships that don't, don't support that.
Um, granted, you know, you, you, it, it, it, the, the truth is you, you family and, and that kind of balance falls into family and friends does fall into the fitness side of things, which is, you know, you need that, you need that, uh, support to remain happy and not lose your mind. Like in, when I was doing street rails two years of just 12 hour days, you know, I cut, I didn't, I barely talk to anyone. I was just there and grinding it out and got it. Severely anxious. Yeah. And depressed and stuff like that. So, you know, this is, this is about making time for that balance as well. And I think this is all about knowing yourself, which is a very, very hard thing to do. I think you, you know, your, your thresholds and, and what you require from, um, from these various buckets of your life, and it's, it's, you don't need to over overdo it.
Um, and you can try, try to just try to be very, very mindful about it. My mind would look very different to other people. Um, I, you, yeah, I definitely see friends on the weekend and, and I train, you know, twice a day, um, to try to try to keep that balance, um, wake up super early and, um, find, find your kind of rhythm there. I do time blocking as well. I think that that's really, really important, um, time blocking for tasks, if you are struggling, you know, I think one of the best hires you can ever make is an executive assistant. Like it's just so important. Um, they really do support you. Um, yeah, there's a couple of, couple of tips, but when you love what you do, you know, I, I don't, I don't think you, you go through waves, right? Like, and I, I don't think I've always been like, I, I don't think I've always been the best at this.
It it's it's. I just recently did a episode with Toby P and Simon beard there. I'm not sure if you know them, Toby P just exited sweat for over, you know, 400 million. They sold the business for, uh, Simon beard owns culture Kings. They exited for 300 million Australian businesses and they, you know, they, they told me their routines and discipline around learning and getting up. And like for three weeks after I was just on fire, you know, so it is really about getting that exposure to those other people so that you can learn from them and, and be inspired by them and, and, you know, try to embody them in the, the, the areas that you want to embody them. It's not, not everything you don't need to look up to them for everything. Take different role models in different situations, take different traits, but, um, yeah. Surround yourself with those good people.

Rabah Rahil (00:19:58):

That's a, uh, that's amazing big fans of, uh, culture Kings and sweat, but, uh, culture Kings and specific, big, big sneaker head over here. That's really amazing. So you work out in the morning and the end, that's how you kind of bookmark your day or how do you fit everything in?

Davie Fogarty (00:20:13):

Yeah. Yeah, generally. So I get up at four. I generally take, um, it's a bit hard when it's
Black at the moment in Australia, take the dog for, for a pretty long walk. And then at night, do, do, you know, generally just a wait session as well. Um, but like, if I, if I miss that for three days in a row, cause I'm working like, which I, which I do, like it is what it is, right? Like you're not gonna grow by skipping those three days, but chances are, if you hit it on the fourth day, you're not gonna, you're not gonna lose anything. And, um, you know, you can get back into it. So I think a lot of this stuff is about being gentle on yourself. Like people listening to this or seeing like what I've done or seeing what any of your guests have done, cuz they're all so accomplished. They go like, and I I've fallen into this trap. They look at themselves and they go, why can't I do this? Why aren't I trying twice a day? It's just like, go gentle on yourself. Like you're either not there or you don't need it. Like you're not there yet. You might get there and you can work towards it. You can look at your sleep, look at, look at your diet, look at, look at your habits and traits and whatnot and, and try to fix it if you think about it. But in the meantime, just don't beat yourself up. You'll you'll get there, focus on the main things that matter as

Rabah Rahil (00:21:27):

Well. That's brilliant. That's really good advice. Cuz I've found that in a little bit in myself and also kind of just high high operators where people are just trying to always do their best and you can get caught in this kind of downward cycle of like you beat up on yourself too much where it's like, shit happens. It is what it is. Move on one foot in front of the other and then just kind of keep going. Cuz the, the number one thing that I meet throughout all successful people is perseverance where it's like, people have this almost like unfathomable faith that I'm gonna get there. I don't know how, I don't know when, but I'm just gonna keep marching and that can help you through some of those tougher times. Cuz there, there is. There's always something usually man, the universe does not give up easy, but once you can find, I think your why, like you said, you can bear kind of almost anyhow type of stuff.

Davie Fogarty (00:22:14):

Yeah. There's, there's a narrative fallacy around, you know, these podcasts and stuff because you're only getting such a small snippet. Like you, you don't, you don't hear like the full people fall down and, and it's only until you can really build rapport. Like, like this is the first time we spoke. But you know, I talked to mentors that are absolutely mind blowing and in all accounts you'd think these people never sleep. But the truth is, you know, when you, when you actually get rapport, you're like, what's your darkest moments and they don't get out of bed for three weeks cuz they've made so many mistakes. It's like even Jeff Basos in the early years would just make so many stupid mistakes. So beware of the narrative fallacy it's it's just, um, it's just part of part of growing up and, and learning.

Rabah Rahil (00:23:01):

Yeah. I think that's beautiful, man. I think there's just um, amazing. Um, okay. One last question. We'll get to the value. Add segment. What's the nicest thing someone's done for you?

Davie Fogarty (00:23:12):

Hmm. I, I got two. I think, um, you know, my parents were, were super supportive. I, when I was dropping outta university, they, they, they didn't quite get it, but I, I just did it anyway and supported it. And um, you know, I've been, I've mentioned dark times at street roles and they, they lifted me through that same with my partner as well. She really, really looked after me in those times. So, you know, these are the people that they don't care if you're successful, right. It's just, they, they are here to be, be with you and support you and, and, and just enjoy life with you. Sorry, not, not, not necessarily support, but take the bad moments and, and enjoy them as well because you know, they will come up. So both of those people, I guess

Rabah Rahil (00:23:59):

That's beautiful, man. That's beautiful. Dave, I'm all pumped up now. I need to go read some business memoirs while I'm doing my CrossFit workout. I'm ready, baby. I'm fucking ready. Let's do this. All right. This is why the people bought the ticket, the value add segment. Um, let's talk a little bit about UDI. That's probably your, your biggest company to date. What did you start it? Why is it called, uh, what are the best parts? What are the hardest parts of running it?

Davie Fogarty (00:24:24):

Yeah, so, uh, it's just hoodie without the H that's why it's called it's. It's nothing genius. Um, so <laugh>, uh, I, I created that just randomly. I was just, uh, like late at night, um, when I was pretty young, obviously, um, the, the, the, I, the hardest part about running your business is always going to depend on what stage of business you're at, like initial zero to 1 million. You're just trying to get your first customer, your first profitable customer, 1 million to probably 5 million. You're trying to, um, you know, repeat and create a sustainable flywheel around that existing customer acquisition channel. So one channel, one product, and then, you know, getting up to the 10 million mark, you are looking at more, uh, you know, how, how can you remove yourself from the day to day in certain areas and interesting, then you get, get more, more efficiency through hiring people.
So you're basically building a flywheel there and then things get relat relatively unique. You're obviously juggling cash flow, probably up to 10 million as well. That's kind of your main challenge and opportunity, by the way, I didn't create this stuff. This is just adapted from the book ready, ready, fire aim, um, which is a, a great book. And then, um, where, where there's a huge death trap for eCommerce is around that 10 million mark, which can be achieved, um, relatively quickly nowadays. I, I'm not saying that to, to be demeaning, to, to people that haven't achieved that, but if you do hit the right product, it's the right time, it's that Facebook will probably get you there to be completely honest with a complimentary channel, like Google and email. And, um, but the, the, the tricky part is, is when all the Amazon sellers start coming in all of the eBay sellers in, you know, there there's a ton of, you know, harass for brands that start coming in and eating into your market. That's yeah. So the,

Rabah Rahil (00:26:24):

I never heard that

Davie Fogarty (00:26:25):

The, I think I heard that a geek cat, so that's good. Not claiming that one either. Um, I think Eli said that I'm not sure. Um, yeah, the, I think, yeah, at that point, you know, you're gonna have to rely on your product different, and I think, and your skills in, in content and building a brand, cuz brand is nonlinear. It's going to allow you to really surpass that. And, and that's, that's where, where Woody, we, we succeeded granted, we've got one of the ugliest looking websites out there, but it just converts like crazy. So my, the, the beauty, which was somewhat unintentional was the product was so good that it created the brands and the, the pattern was so unique that it, it protected the brands because people couldn't copy our patterns. They could obviously put a pizza thing, but they couldn't put our pizza on the, on the product.
So it then created virality because it was just so strong. So people were like, this is so good. People were sharing Snapchats to themselves at home, like all of that kind of stuff, which really fueled out our, we had a, somewhat of a viral growth engine, um, through that. And then, you know, when we were doing over a hundred million things got, got very, very complicated and it became very structural, you know, the, the main challenge at that stage for me, not for all founders, but I have heard Ben Francis talk about this, um, when with his business was, you know, I made the same mistake, just not thinking about fi finance and operations as like a key function of the business and somewhat just focusing on product and, and marketing, which, you know, as soon as we, we lost. So we, we, I think we did like 20 million or something like that in November last, last year across all of our geos, but we actually forecasted that we would've done 45 million and we just had no stock.
So we we'll completely sold out for our last two black Fridays in, um, in those Northern hemo hemisphere regions. And that is all because we just kind of ignored operations and didn't have the right ops team. So ended up finding, um, finding a really good retail based COO. Um, so when I say retail, she was, you know, managing stores here and, uh, big, big kind of chains as well, like in conglomerates of brands. So they have all of the merchandise experience. They can, um, you know, manage spreadsheets like crazy. They just have a really good eye for forecasting, which is really important. Can somewhat predict the future in that regard. And, and, and people that come from these kind of legacy businesses, they they're just, they're just beasts, right? Like they, to, to last that long in that kind of environment, they really bring a level of maturity to our, you know, young eCommerce team.
So I think that that's something that I was missing. I was still hiring really young, young people, um, in that situation, which there's nothing wrong with that. It's part of our culture and, and we all work really, really hard, but these, she really did turn the business around, um, and, you know, replaced the entire ops team. And, and then we ended up, uh, doing the same with the finance team and now it's, uh, it's humming along really, really nicely. So now our channel is now our now our main challenge has, has changed to, um, there's something called the Ansoft matrix. If, if, if you, you always wanna look it up and it talks about how to achieve, um, how to achieve diversification. So, um, you've got product diversification or market diversification as well. And I like to think of market diversification as channel diversification as well.
So really trying to mitigate the, the effects of these big changes by diversifying our acquisition, um, methods. And I don't think that that's entirely achievable with our core product range at this stage. So really looking at looking at our core product range, and we're also looking at more, a more sustainable, um, business model, like evergreen cyclical products, like pajamas and stuff like that that are always, you know, B and trend, but it's just about the pattern and the, and the block. And trying to understand if, if that is, that can be, you know, a 200 million business in itself. Uh, I'm not sure if you're familiar. There's, there's some, uh, there's a big PJ brand in, in Australia that there really does, um, capture that, that comfort wear segment very, very well. Mm-hmm, <affirmative>, there's not a global comfort where brand to be completely honest. I, I, I, don't, there's a couple of lounge brands that focus there, but comfort wear, I, I can see is a different, different segment. Um, really bringing moments of happiness and joy, uh, through comfort being, um, being, feeling safe and those kind of those feelings, I think that we can kind of encompass that through the, um, and our product development. So I'm not sure if that was a big ramble of, of nothing but

Rabah Rahil (00:31:26):

No, that was super fascinating. What was the matrix called again?

Davie Fogarty (00:31:29):

It's called the, an soft matrix. Um,

Rabah Rahil (00:31:33):

It's en soft,

Davie Fogarty (00:31:35):

An soft. Yeah,

Rabah Rahil (00:31:36):

Amazing. I've never heard that I'm learning, I'm learning so much. I need to note take on this. I have to go back and rewatch it. That's fantastic. That is fascinating to see though. Um, cuz we felt that firsthand as well, and it's a little different we're B2B SAS, you're D to C, but there's this unique feeling of almost like basically those benchmarks that you're talking about are milestones. If you will, where there's different people needed. Cause almost at the beginning almost everybody's a generalist where you need to be, be able to wear 78 different hats. And then as you scale up, you get into these kind of more specialized roles. Um, but then there's also a certain aspect to your point of like, it's not all about just bringing in money or acquisition, it's about profitable acquisition and then matching that demand with your supply and then understanding, can you get more favorable terms?
There's all this kind of like boring stuff, quote unquote, like that operators and you don't run into them until you hit those kind of economics of scale where if you're only, you know, a $2 million a year run rate business, you're not gonna go push, you know, manufacturers around. But if you're 250 million a year business, you can start to really make moves. You get into some, some cash conversion stuff that, um, is, is again kind of boring if you're into like you like the product, the, the feeling, the marketing and stuff like that, but absolutely requisite to hit those different step changes cuz you, you just keep hitting up against a wall. I feel like. And for some reason I used to work within that 10 to 50 million a year run rate businesses and that 10 million does feel like that weird inflection point of like you either have to grow up or be happy with the business at that, that rate, right?

Davie Fogarty (00:33:18):

Yeah. A hundred percent, a hundred percent. It it's generally that, that ceiling, that, that main channel cuz like Facebook, the reason why we all spend there the most is because that's the most efficient channel. We're not, we're not married to Facebook. We don't really care to be completely honest. It's where we're gonna get to this return for our box. So, um, yeah, that's, that's generally ceiling, I think in uh, terms of your previous statement. I think it's all about the questions you're asking yourself. And again, it comes down to the people you're surrounding yourself with and, and there's, I think in Naval created this, it's your information diet. If you are in 40, you know, a by a Facebook groups and you know, just looking at, you know, like just Twitter and you just follow marketers, you're just gonna obsess over the marketing questions and optimize things to tee there.
But if you go, if you go into LinkedIn and follow a bunch of supply chain experts and like finance experts and just digest everything that they're posting, you're start asking different questions to be aware of your information diet. You know, I think I, I, I can see a couple of inflection points around like the knowledge that I had and, and both of them sit around, you know, something like geek out or, uh, I hadn't been to an affiliate world, but I hear it's pretty good as well. And like it may, it might come from, it might come from the speakers, but it might just come from a, a little tip that you learn from everyone else. I think, you know, if you learn one thing at one of those trips, you know, it's, it's worth doing so, uh, in the early stages, I would go to literally every single one and just try to talk to everyone.

Rabah Rahil (00:34:56):

Yeah. I've found that is actually the B the biggest changes for me as well was, uh, being able to rub up against people with different perspectives that have done it. Um, and then you have this, this actionable insight that then you can not only, um, if you can't integrate it, reference it to lead you down a path of, to your point. I love how you put that, where, um, you start asking better questions, more precise questions, more impactful questions that can then, you know, start to have 5, 6, 10 points a lift on the business versus this 0.2%, because you change the button color from this screen to that green where it's like, not that there's not a place for that, but, um, at the end of the day, especially as the CEO or the founder, um, even as CMO, I see myself as a capital allocator, right?
To your point, like we buy ads on certain channels because they're effective. If I could buy billboard ads and get, you know, X amount of signups for Y amount of K I'd buy billboard ads, I have no, no, uh, dogma in terms of how my spend is deployed, but I love that David that's really, really awesome. Um, if you were start to start a company tomorrow, what would be the first social network you would start building cuz you're, you're pretty prolific across all of 'em almost, I mean, your Instagram is a little, not in the league as your YouTube and TikTok, but your YouTube and TikTok are, is proper proper scale there.

Davie Fogarty (00:36:14):

So what's the question start at?

Rabah Rahil (00:36:17):

What would you, if you started a company tomorrow say, uh, UDI 2.0 or whatever it is, um, product agnostic, um, what social network would you start building it at?

Davie Fogarty (00:36:27):

Yeah, it's a good question. Like, like I think we answered it before where the best return on investment for, and you you've gotta test that. Like it might be, it might be TikTok organic at the moment. I didn't think that that's sustainable. That'll go away. Like it always has its history. That's, that's true. But you know, where if it's better to pay creators or spend your whole day filming content, then, then do that. I, I think the, by learning paid though, especially as a beginner, you're going to have a skill set. That's gonna make you look at the life differently. Yep. Um, and, and, and I think that, you know, there's, there's businesses out there that hire investment bankers to come and run that media by like cuz just cuz it is capital deployment. It is business 1 0 1 and as a founder, as a CMO, as any, anyone you're going to need to learn that. So I really do like that. But at the same time, the creative creativity angle really is a different side of your brain and, and really it will, will hold you in good stead. So, so maybe you do both and, and they both obviously lend itself. So TikTok and, and Facebook that this stage in terms of our Instagram. Yeah. I don't, I don't really post that that much cuz I've got a lot of friends on there and it's kind of just like, they don't, they don't wanna see that, that shit <laugh>
Your old stuff. No, they don't, they don't actually say that, but um, yeah it's I just post a bit less frequently then. Um, YouTube, YouTube obviously goes, well, we put a fair bit of effort into that to try to help young entrepreneurs.

Rabah Rahil (00:38:03):

Yeah. It's a great channel. If you guys aren't subscribed smash that subscribe button, um, what gives you more gray hair? I mean, obviously you don't have any gray hair, you have a lovely head of hair. Uh, go check out his Instagram, uh, pup naps or UDI,

Davie Fogarty (00:38:17):

Uh, UTI. There's the bigger, more money, more problems, you

Rabah Rahil (00:38:22):

Know? Yeah, yeah, yeah. Amazing. Um, let me see what else. So in the next two to three years, how do you see like e-commerce do to see unfolding?

Davie Fogarty (00:38:37):

It's a good question. Like I hope I hope Shopify doesn't start bullying people like a biggest advocate of, of Shopify. Um, I, I think they're incredible. I would hate to see them to start price gouging and, and start doing that stuff. We've seen that happen with apple when they just have platform dominance. I think, I think the, if, if they can execute on what they're trying to do, the fulfillment centers, uh, and, and getting that delivery time down to rival Amazon, it's going to be very, very good. I think us is absolutely overrated for eCommerce. Like just launch your business in any other market and you'll probably do better in the short term. Um, the, the first time founder is granted, if you're raising, if you've got a completely, you know, revolutionary idea us is probably gonna gotta work work better, but most ideas, in fact, all ideas are just iterations on previous ideas.
So, um, yeah. Make sure you unique. So I think all of these other countries, Australia, UK, Canada, maybe the UAE like Brazil might be kind of further away, but you know, I think that there's going to be some great, great opportunities there. Uh, in Europe there's a lot of countries in Europe that you can kind of, uh, take advantage arbitrage the traffic. Yep. But yeah, I, I I'm, I'm, I'm excited about the opportunities within eCommerce. However, I do believe the business model is inherently flawed and you think we need to stop thinking of it as a comments and direct to consumer, like there's one brand that I've talked to this actually there's a couple, but uh, just trying to be dramatic. Um, there there's, there's like one person I've talked to that, that doing solid solid numbers and they're gonna grow. Um, and you know, they're not a new business and they're gonna grow versus their COVID years, which is, which is, you know, everyone's up against tough times at the moment, um, to get any growth is good growth in any, any regards this year to completely honest.
Yep. But you know, he's gonna grow. And, and the reason why is he is, is, is in every single major us retailer and he is running ton of TV apps for his very unique product that he's got a billion paintings on. So it's, it's, it's really a different kind of game that he's playing than a lot of other people are playing that are selling commoditized products. Right. Um, you know, formulations of, of similar products, like, you know, skincare that's that stuff's gonna be going to be tough. Um, all of those kind of business models that have existed, unless you, you can't just rely on direct to consumer, you know, I think you really need to build, um, build, build distribution elsewhere, whether that is through channels like Amazon E retailers, but also wholesale as well, I think is important. Um, so yeah, I think that that that'll adapt as well. I, I think channels, it is gonna keep getting worse as well, like way, way, way worse. I think privacy it's only just begun. So, um, yeah.

Rabah Rahil (00:41:49):

Yeah. That's, that's really interesting thesis. I I'm I'm on board with that mostly. I think that the privacy wars, um, apple will start just keep PLA I mean, it's just so economically tangible for them that they will do it Google then follow suit. Um, it's interesting your thought on the D TOC business, you, I think you might be right there because when I think about it almost all the big D TOC exits that I can recall, um, were primarily predicated on growth, not actual, um, like big, big multiples on the top line kind of thing, not actual profitability or anything like that, where I can't think of like a really big, big D to C exit. And maybe that's why, because you, you have this inherent ceilings to this one channel where you need to get into wholesale, you need to get into retailers, you need to start opening up these distribution to make kind of this full fledged peacock of profit versus, you know, this, this fire hose of DDC, because to your point, if the business model's not there where it's not some sort of recurring, you're gonna get crushed, cuz you're just gonna have to keep acquiring new people.
And then eventually, unless you have this crazy unique product, you're gonna hit a point of ion returns and then it get, just gets challenging to really start to scale the volume at a, at a profitable efficiency, right.

Davie Fogarty (00:43:08):

A hundred percent. I think that like the, the dream of the exit is the gym shark exit with general authentic. Um, they, they, they sold a decent stake, but you know, they, when, what, what is the, what is the comp it's like, oh, is, is Nike the comp or is, is there a different, is there a different comparative co to create that valuation? Yep. Um, that is entirely D to C um, if they can, you know, if they can overtake Lulu lemon and stuff, I don't actually know if they already have or not to be completely honest, I don't follow closely, but the other one is native deodorant. I was listening to, um, uh, uh, Moise, a podcast of the, the other day. Yeah. He's, he's, he's incredible. And um, their, their product could sell. Like, it was just interesting hearing him talking about like as soon as they exited their first time, they did PR and then there was a hundred, you know, Proctor and gamble.
Like every single Proctor and gamble brand was probably releasing one straight after that. So you look at that as like, oh, the only reason it's succeed. Like the only reason there wasn't a million competitors is cuz he wasn't talking about it so much. Um, and his, and his figures, which is a good lesson in itself. So yeah, inherently flawed unless there's a, a lot of protection. I think it all comes down to that first stage at product development stage. You know, if you're just looking to create a $10 million business, the truth is you can, you can be less strict about that, but um, yeah, if you want, if you want, you know, a billion dollar business or something like that, you can have to do something pretty special and not just be a D TOC brand.

Rabah Rahil (00:44:46):

How fascinating. Yeah. Moise is great. He was, he's actually been on the pod as well. And he, he had some hilarious stories, uh, really interesting. And though it kind of goes back to your thesis as well though at the beginning, right? Like either have this super innovative product that nobody else is consuming where you're essentially creating a market for it or market maker, if you will. Um, and then get the hell out of there with an early exit or start to build moats around it with some sort of patent or community or something that's really hard to replicate, um, quickly, like you just can't buy a community, right? Like you, there's these things that are hard to replicate, um, no matter what the resources you have. And I think those are gonna be really important as well, to insulate your brand from the, um, who asks for kind of brands. I love that love. That's

Davie Fogarty (00:45:31):

Amazing. I think like, I think the better business is, is whether zero cost of reproduction of the product so far less, you know, your gross margins gonna be way SA

Rabah Rahil (00:45:41):

Yeah. SA

Davie Fogarty (00:45:42):

Literally that's why I'm getting into, because it's, it's such a great business. Um, I, I, it's such a fun business as well. Like it's so cool. Yeah. Um, it's just the power of God beneath your fingertips, that making things do lots of things. It's just really cool. Yeah. Um, the, but yeah, I, I think I wouldn't sleep on that, um, for, for other brands as well. I think that there's other angles as well, like creating I've saw Ridge, you know, bought, bought a media company and I've heard, I've talked to a couple of other founders that bought, you know, Facebook pages and groups that were doing like, you know, four, $4,000 profit when they bought it. And then there's Facebook switch monetization. Now they do like 400,000 profit a month. It's just madness. So there's other angles. I don't know how effective those, those, uh, other pages are at cross selling products. Um, uh, you know, I think that, that there needs to be severe amount of relevance and alignment with the existing audience, but there's cool stuff. There's plenty of cool stuff to do out there. I think that, you know, we need to, you know, expand our minds as well about how we utilize our capital. Cause it might not just be about launching dropshipping products. You know,

Rabah Rahil (00:46:55):

I am totally with you on that. That's where like, obviously you don't wanna see people lose their job or go outta business or et cetera, but that's kind of just one of the challenges of capitalism is that there's winners and there's losers. And, um, I, I, for 1:00 AM totally fine with drop shippers kind of going away where they never see a product and nothing wrong with arbitraging or anything like that. But at the same time, I like to see the, the real products win where there's, there's somebody that they care about it and they're behind it. And there's an actual job to be done value to be added, um, versus just, you know, uh, basically arbitraging underpriced inventory for a really crappy product that people are never gonna buy again. <laugh>

Davie Fogarty (00:47:36):

A hundred percent, a hundred percent build something of value.

Rabah Rahil (00:47:39):

Yes, exactly. Um, Davy, you made it to the rapid fire. Are you ready?

Davie Fogarty (00:47:45):

I'm pumped. Let's do

Rabah Rahil (00:47:46):

It. Ah, all right. Uh, TikTok, overrated, underrated,

Davie Fogarty (00:47:51):

Underrated.

Rabah Rahil (00:47:52):

Ooh. I love it. YouTube overrated, underrated.

Davie Fogarty (00:47:56):

Underrated.

Rabah Rahil (00:47:57):

Oh, wow. Two underrated Australia, Australia, overrated, underrated.

Davie Fogarty (00:48:02):

Um, so biased. Like I, I don't know. I think it depends what you want. You know, I, I, I, I love it obvious. I, I would never go anywhere else, but Fred for holidays, I don't know. You got you. Tell me,

Rabah Rahil (00:48:16):

Where would you go? If, so, if I were to visit, what would be the Australian tour? How would you do it?

Davie Fogarty (00:48:22):

Brisbane? Just head to Brisbane, go to the reef. Nah, you could pop down to Sydney. You'd be one Sydney C on Melbourne, but definitely go to Brisbane. Um, if you wanted to fly all the way over to path, they've got some of the best beaches in the world, so you can go whale, shark, diving and stuff, but the reefs up around Brisbane, it would be hot and perfect for you all year round, you know?

Rabah Rahil (00:48:43):

Amazing. Amazing. Um, you talked about this a little bit earlier, but uh, Shopify, overrated, underrated.

Davie Fogarty (00:48:50):

Oh, is so conflicted. It's it's so underrated. It is best. Uh it's you know, um, there's so many things that they could do to make it better for us. And I think that they're trying that, you know, their product iteration kind of looks like triple, well, you guys roll out before product a week and they do as well, which is, which is sweet. So I, I, I I'd like to say underrated at this stage, but there's so many other cool things that they could do to, to, to allow us to win.

Rabah Rahil (00:49:20):

Let me ask you a quick follow up question. What do you think their biggest opportunity is? Like if you were Toby, what would you be driving in towards? And then what do you think their biggest vulnerability is?

Davie Fogarty (00:49:30):

I think like, well previously it was like I was talking to Shopify team, uh, in Australia I think was like a year ago. I was like, there's not even split testing within like click funnels has got split testing. You guys don't. Uh, and that was really true, cuz you know, you need to hook up Google optimize, you might need to get a developer. It's just like this, this stuff. Couldn't just increase your revenue by like 20% just by rearranging some things. It's just like nobody has conviction or the ability to do it. Think about the uplift there, but it has to be those apps and, and the fact that like, if they can like apps are great, they obviously have so much incremental, uh, incremental gain for our stores as well. But if they can make 'em faster, better, cheaper for, for us and, and more effective to bump our revenue and increase their Shopify payments.
Like I think that that would be really, really good, but yeah. Check out split testing, those kind of things. Uh, support speed. The 2.0 themes are fantastic. So by basically a lot of this has been solved and then, then moving fast, uh, in that, in that positive, positive direction, the lookalike audience was my second thing that I was just like, when I, when I read it, I think was Moise again, talked about it. I was like, this is, this is where it's at. Like, this would be fantastic. And then the final thing is Raveling Amazon. Yeah. It's just like, I don't want someone, I want someone to see the Shopify footer or layout the debut thing or the Shopify checkout and go shit. Like I can trust this shipping method to be really, really quick. So, um, yeah, I think that that that'll really, really help things along. So it's all about customer experience at the end of the day and aligning their brand with, with that positive customer experience that Amazon's so renowned for.

Rabah Rahil (00:51:17):

That's incredible. The, uh, split testing is really interesting. Um, what do you think their biggest vulnerability is? What would keep you up at night if you're running the big Canadian beast?

Davie Fogarty (00:51:28):

I think, um, I think the, the, the vulnerability is in there like is in, they, they do have a moat. The, the switching cost is incredibly high and, and there would be no reason to switch right now, but simple migrations, you know, they, your URL structures are completely different to someone like big commerce and these other guys. So they have a very, it's very, very tough to switch away from them. Um, but you know, if they, if they did things that I mentioned before, you know, if their Shopify payments methods started to go up, um, it, it could end up becoming, coming worthwhile to, to switch. But that being said, I, I really don't have have many complaints about Shopify, as I said, it's a, it's a, it's definitely a love, love, love, love relationship at this stage. So, um, I think they're doing a great job.

Rabah Rahil (00:52:24):

Yeah, no, I, I echo that completely. The split testing is really interesting. I think the other point too, and they're trying, I mean, that was their biggest acquisition. Obviously it was, I think only a couple months ago would deliver, but, um, I think the making the supply chain and kind of distribution easier on people, um, or merchants in specific, and then to your point of trying to reach some sort of, at least mental parody of like, okay, I get an Amazon package in one or two days and a Shopify in three or four, or just something where you start to build this, uh, customer expectation. Um, but I gotta tell you I love shop pay. I think shop pay is the best experience shop, pay, and then apple pay on the phone. I think those are just the two just stellar experiences on the Innerwebs right now. Like great way to check out. Isn't it,

Davie Fogarty (00:53:08):

Isn't a shop pay 5% transaction fee. Like that's, that's get

Rabah Rahil (00:53:13):

You. I'll get you.

Davie Fogarty (00:53:15):

<laugh> I'm like, like that that's that's crazy stuff. I granted if it increases conversion rate, but is that, is that like warranted around around the transaction costs? Like, I, I don't know. I'm that technical,

Rabah Rahil (00:53:29):

It's a fair point. Um,

Davie Fogarty (00:53:31):

But the, the other opportunity that they do have is, is Clavio, like going after Clavio, you know, they're raising prices as well, uh, by the way, I'm not, I'm not stingy or anything. Like, I'm just trying I'm I'm when I, when I talk about this stuff, I, I really do think about the, the effect that it has on the ability for businesses that are struggling with cash flow like me in the early days, and my ability to, to grow, get return on investment on these tech, these challenges, um, on these channels. Sorry. So yeah, that, that's, that's generally why you hear a little bit of like frustration if they kept raising prices and, uh, or a little bit of fear probably. Uh, I don't think they've gone too far at this point to be very clear, but yeah. If, if they could, um, really keep the, the Shopify email, uh, ticking along and, and invest in that product, that would be really cool. I'd be very down for that.

Rabah Rahil (00:54:27):

Yeah. I think that's a really huge opportunity for them. Um, because they're almost everybody's biggest line items in their tech stack is Shopify plus and Clavio. Right. And so if you can roll that in, or it's your point, sometimes Clavio can be a can to kill a mosquito for some of these people just starting out. And so having to eat that nut right up front versus just folded into the shop of I payments. Totally. Yeah. It's amazing. Uh, Croatia, overrated, underrated.

Davie Fogarty (00:54:55):

I've only been there once and it was a big party trip the entire time, but

Rabah Rahil (00:55:05):

I saw it on your Instagram. It looked gorgeous. So I had to ask about, I've been wanting to go. Yeah,

Davie Fogarty (00:55:09):

I can stay underrated. It was awesome. It was such

Rabah Rahil (00:55:12):

A good term. Amazing. Um, if you could hire anyone, you had a blank check to do an DY collab with who would it be?

Davie Fogarty (00:55:20):

Ooh, I was, I was trying to get rebel Wilson. Oh, do you know rebel Wilson? No.

Rabah Rahil (00:55:25):

How do I know that? Yeah,

Davie Fogarty (00:55:26):

She's Aussie. She's she's hilarious. She's such a funny,

Rabah Rahil (00:55:30):

Oh, I do know her. Yeah, yeah, yeah, yeah. That'd be great.

Davie Fogarty (00:55:34):

She's so good. But like, it, it is really around the brand direction. Like she encompasses our brand like lighthearted fun, like warm and, and whatnot. I, I think, um, there, you know, I think there's a, there's a comparison to be made with CROs as a business model to like they they're beast, great business. That

Rabah Rahil (00:55:53):

Business is great

Davie Fogarty (00:55:55):

Business. The rest, you know, they did Valencia, AGA collabs and stuff like that. And, and really tried to, you know, get their product worn out Dallas, which I think's pretty sick as well. So we've got some big, we've got some big things lined up in, in that area and collab, but, um, the,

Rabah Rahil (00:56:11):

The Gucci UTI collab, I'm totally in, I've been trying to get the north face. They did, uh, Gucci to collab with north face as well as Adidas. And they're just, it's amazing. That would be hilarious. You're right. I like that a lot. Um, I know you're pretty healthy, but favorite meal and why, what do you, what's your favorite meal?

Davie Fogarty (00:56:30):

So I actually just eat Uber eats every single day, just to save time, like three, four meals a day, just Uber eats. So like whether that's healthy or not, like, I, I understand the macros that I need. Um, I granted that I do miss home cooked meals, but, uh, it's just a time saving thing. So I know fussy just, uh pizza's. Pizza's good. Subway's good. It's all good.

Rabah Rahil (00:56:56):

Amazing, simple man. Simple pleasures. I love it. Um, I know you have, uh, one, one dog, two dogs, one dog,

Davie Fogarty (00:57:03):

One dog is actually downstairs cuz I was, I annoyed that he was just gonna be chunky. Yeah, I was trying

Rabah Rahil (00:57:09):

To, is his name Sherlock bones or is that just a hashtag Sherlock? That's the most? <laugh> that's amazing. So he's

Davie Fogarty (00:57:17):

Not smart though. He's not smart. Gonna be intelligent.

Rabah Rahil (00:57:24):

Well, cuz he is a golden right. Retriever. Yeah. Yeah. They're supposed to be really smart. Is that your favorite type of dog or what's your favorite type of dog?

Davie Fogarty (00:57:32):

Honestly, I, I, I didn't really, I wasn't obsessed with that breed before, before I got him, but I, I got him and now there's I don't can't imagine myself getting the dog, maybe a Bernie's.

Rabah Rahil (00:57:42):

Oh, those are cool.

Davie Fogarty (00:57:43):

But you want more happiness in your life? Get a golden retriever. You'll be

Rabah Rahil (00:57:48):

Sweet. I love it. Um, what's your favorite YouTube channel

Davie Fogarty (00:57:55):

Alex or mosey by, by

Rabah Rahil (00:57:57):

What a G right?

Davie Fogarty (00:57:58):

The guy is guy is a beast like that, that way that he synthesizes and can communicate complex subjects like I've, I've, you know, I've tried and honestly doing that kind of stuff is incredible and it shows deep understanding, deep, deep understanding and, and learned lessons that he's applied that understanding to. And yeah, if, if you guys haven't checked them out, like he'll, he'll change, change your perspective on a lot of things. So every lunch break, you know, I, I don't watch TV before seven 30 at night, just like, cuz I've just, it's made me do so many other things, but I'll just watch, watch his YouTube and just learn, uh, like every lunch and after work and stuff like that.

Rabah Rahil (00:58:39):

It's crazy. He's fantastic. He's also intoxicating. Like he's just a super fun guy, right? Like you'd love to have a yeah. Charismatic and just like yeah. What a great his, his wife's starting to pop off a little bit as well. Um, uh, but yeah, Alex is a G man. Very, very great stuff. I love the, he paid all that money to the uh, what's his name? Uh, the real estate guy grant card down. <laugh> he just slaps the video on YouTube. What a gangster. I love Alex. Um, favorite place travel to and why?

Davie Fogarty (00:59:09):

Oh, I'm gonna go somewhere. Oh nah, Switzerland's

Rabah Rahil (00:59:14):

Pretty cool burn or it's pretty cool.

Davie Fogarty (00:59:16):

Yeah. Uh, I can't even remember where I went, um, to be honest, but yeah, no, I think it was, was there. It's just like, I like, I like trips where you can find a lot of peace and I think serenity really allows that peace. Um, you know, I, I love going to like barley and stuff like that and Croatia, there's a lot of hustle going on there and it is harder to find that you new. York's a great example. So, um, getting in touch with nature is a little great. Um, and I love Oregon as well. We've got a business in Oregon. I can't wait to go back.

Rabah Rahil (00:59:50):

So Pacific Northwest is gorgeous, especially if you're, if you don't mind the cold it's gorgeous. It's it's one of the more beautiful. All right. Last question. And you'll make it through the rapid fire. If you could have dinner with three people dead or alive, there's a four person table. You're sitting at the head of it. Who's getting the three invites.

Davie Fogarty (01:00:09):

Iland Musk, Steve jobs, Warren in buffet. Wow.

Rabah Rahil (01:00:12):

What an enterprise and table. That was a quick answer to DVY you're on it. Amazing

Davie Fogarty (01:00:18):

Base. Well maybe Michael Jordan, just cuz he's a boss. I don't know. I give me four,

Rabah Rahil (01:00:25):

Give you actual I, we can, we can put an extra seat for MJ. Of course. Davey, you made it. The podcast dun and dusted baby. Incredible. You got to show off your, uh, incredible knowledge, your awesome Ironman helmet. What is that koala? A parrot is that avocado as well. I mean you, you got it all back there.

Davie Fogarty (01:00:44):

We've got it all mate. That was awesome. Thank you so much for having you. Um, it's it's a huge honor. I'm big fan of triple you guys are crashing it. You're gonna, you're gonna make a lot of lives. Easier. eCommerce lives easier. So appreciate

Rabah Rahil (01:00:57):

You. Oh, amazing. Amazing. Dave. You tell people how they can follow you. Where do they subscribe? How can they get it DY? This time is yours? My friend.

Davie Fogarty (01:01:05):

Yeah. YouTube or Twitter? Davy. Fogarty. D a V I E. Fogarty. Yeah. Let me know if you need any help. Happy to happy to reply.

Rabah Rahil (01:01:14):

Amazing. Grab an UDI. What's the URL. Just uti.com.

Davie Fogarty (01:01:19):

The udi.com. If it's Australia, uh, you'll get redirected the SubD domains if you're in us.

Rabah Rahil (01:01:24):

Amazing. And then if you have a puppy pup naps.com or what's the

Davie Fogarty (01:01:28):

Pub naps.com. That's the one

Rabah Rahil (01:01:30):

Let's go kids. Let's go, Dave. You're the best we gotta get you out to Austin. We'll do, we'll do another podcast in person. It'll be a good time. That'd

Davie Fogarty (01:01:37):

Be awesome.

Rabah Rahil (01:01:37):

It's not, it's not too bad. Yeah. Next time you come stateside. We'll just bring you back over and then you can just hit the east. Sounds good. That'd be great. Sounds

Davie Fogarty (01:01:44):

Good,

Rabah Rahil (01:01:45):

Dave. Thanks so much again for your time, Dave fogger to everyone. Appreciate you. If you wanna get more involved in triple oil, we are at triple oil on the bird app, triple oil.com for the website to sign up for a demo or just start printing money today. And then what else do we got? Oh, well mail newsletter goes out every Tuesday. Thursday. Be sure to subscribe there. Davey. Appreciate you. My man. Awesome. Awesome answers. I have some work to do. I'm gonna go get my two, a days on with my Alex. Hermo uh, streaming in the background. Right? Appreciate your brother. Uh, that's another, you're not your realizing the books folks. Thanks again for joining us and we'll see you on the flip.

ā€

Podcast

How To Build Million Dollar Ecommerce Brands W/ Davie Fogarty

March 18, 2024

1:02:33

Hosted By

Rabah Rahil
CMO at Triple Whale

Guests

Davie Fogarty
Founder of The Oodie

Episode Description

In this episode, we sit down with the LEGENDARY @Davie Fogarty as e explains his story but more importantly, his process for building brands.

Notes & Links

šŸ¦ Follow us on Twitter for Industry insights https://twitter.com/triplewhale

Follow the people featured in this episode here:

- Rabah's Twitter: https://twitter.com/rabahrahil
- Find Davi Here: https://www.youtube.com/c/DavieFogarty

Transcription

Davie Fogarty (00:00:00):

Us is absolutely overrated for eCommerce. Like just launch your business in any other market. And you'll probably do better in the short term.

Rabah Rahil (00:00:14):

Well, I'm pretty, pretty happy with Colin on this one. Um, he was able to grab a legend, the power from down under Dave Fogerty. Welcome to this show. How are you? My friend?

Davie Fogarty (00:00:27):

I'm going very well. How are you?

Rabah Rahil (00:00:29):

I'm doing well. I'm I'm, it's actually, we, um, won the beauty of the internet. How we can connect a BA. This is, I'm pretty sure this is definitely the farthest. I think I had a, um, someone in the middle east, but this is way farther than the middle east. So this is definitely the furthest we've done. You have a fantastic internet connection, which is great, but we have an inversion I'm over here melting in Austin and you're freezing in Australia.

Davie Fogarty (00:00:52):

Yeah. It's, it's crazy how that works. I'm actually flying over to, to Oregon on, on Monday. And it's a, it's a very big track. It's a big, big track, but very well worth it.

Rabah Rahil (00:01:03):

Do you go east or west or do you just keep going rust around? Cuz Oregon is closer that way, right?

Davie Fogarty (00:01:09):

We go west generally to the flight LA

Rabah Rahil (00:01:13):

Into LA.

Davie Fogarty (00:01:14):

Yeah. And then it's like, I think it's a 20, like my last flight to Oregon was 26 hours all up, but I was four connecting flights and it was, it was pretty full on, but oh

Rabah Rahil (00:01:25):

Man, man, that's brutal. I

Davie Fogarty (00:01:27):

Enjoy, I enjoy traveling. It's just, it's good to, you know, you get some reading down it's it's good. Fun.

Rabah Rahil (00:01:33):

Do you have any tips? I got, I just went to Barcelona and I got wrecked by jet lag. It was weird though. Cause I had went to Dubai in Israel and those were more like 12 hours ahead. Didn't throw me off that much, but Baro was like seven hours ahead. The city goes late. It literally took me like five, six days just to get my feet under me there. I usually don't get paddled too much with that, but how are you doing it with your, I mean, those are massive shifts.

Davie Fogarty (00:02:00):

Yeah. It's, it's obviously easier when you're front a little bit and able to sleep. Um, but bosses. Yeah. Crazy, crazy difference. Cuz they just, they, they kind of nap through the day don't they? And it's just like the whole thing is just thrown out. But yeah. Look, I just, I, I don't try not to drink on the plane. I, I feel like that helps a big time and just trying to eat healthy and you know, chatted time in, uh, sleeping as well.

Rabah Rahil (00:02:26):

Do you spring for the fancy seats? See, that's the one thing I did when I flew to Dubai, I got like the little fancy seat and had my like sleep and it's amazing. I got the, just the re seats going to Barcelona this time and wrecked me. I think that's money well spent. Right?

Davie Fogarty (00:02:41):

Yeah. Look that that really does help cause you actually get a good night's sleep. I, I, um, I didn't realize that there that most businesses, you know, when they get to a certain size, which is to a, a cash back card <laugh> so I ended up racking up like 95 million annex points that I've just got sitting there that I just dunno how to spend. So I kind of <laugh> it's it should all be cashed. It was pretty bad move on my part, but we were running, we were running pretty quickly, uh, last couple of years and I just kind of missed that step

Rabah Rahil (00:03:14):

<laugh> that's amazing. What's the, uh, biggest point purchase you've made?

Davie Fogarty (00:03:20):

Uh, I literally don't even know. Uh, it's just, just travel. Yeah. Just travel when you don't get the rewards flights, it does cost a fair bit to, to book a business class flights return, especially from so far away, you know

Rabah Rahil (00:03:33):

That and you fly outta Adelaide or you fly to cause that's a pretty big one, right? It's Adelaide, Sydney, Melbourne

Davie Fogarty (00:03:41):

Adelaide's yeah, down south. It's kind of like the little brother of everything. There's not much going on and um, compared to Sydney and Melbourne, so generally international flights you'll have to fly into Sydney or Melbourne and then catch a catch a proper flight from there.

Rabah Rahil (00:03:58):

So how did you take on the internet in being such a, is there a big entrepreneurship community there or, I mean, I would think it'd come outta Sydney or Melbourne. Right? Cause there that's a, those are proper business communities. Yeah. Or

Davie Fogarty (00:04:10):

Yeah, you look, it's definitely the culture in Melbourne is, is far more like, you know, the us entrepreneurial, uh, you know, those, um, espressos and whatnot working out

Rabah Rahil (00:04:23):

<laugh>

Davie Fogarty (00:04:24):

Uh, but the, but you know, Adelaide probably is underrated. Uh, it was only until, you know, I started businesses that I realized that there's actually some really successful eCommerce businesses. You know, what life right away, these guys like kind of gym brands and they they're doing amazing job as well. So we've got a very small community that, that helps with obviously finding talent as well. Uh, in Melbourne it's much, much more competitive for talent, but we haven't offers both in Adelaide and Melbourne to try to, you know, there's definitely a different kind of skill set, maybe a more technical skill set in, in Melbourne, not to say that we haven't found amazing technical people in Adelaide, but it is really interesting how those two different cultures kind of manifest different types of talent.

Rabah Rahil (00:05:09):

That is interesting. Um, have you been in Australia your whole life or have you lived anywhere else? Cause you're fairly young, right? You're a 25 going on

Davie Fogarty (00:05:17):

26, 20, 27 getting on

Rabah Rahil (00:05:20):

27. Oh man, I need to, what's going on? My assistant's given me this, this, this terrible, terrible brief. What's going on here?

Davie Fogarty (00:05:26):

I just, I just lie on Wikipedia younger.

Rabah Rahil (00:05:31):

No, no.

Davie Fogarty (00:05:33):

Um, yeah, I'm I'm 27. I have, I, I, I lived in Melbourne for a year, just that's where I learn E I'm sure. Get into that soon. Um, and then I, you know, miss my, miss my, um, family and friends and stuff too much. So I ended up coming back and probably would be an Adelaide boy for the rest of my life. To be honest, it's such a simple, simple place to live cheap place to live. It can get anywhere in 20 minutes. Good beaches. So what more could you want?

Rabah Rahil (00:05:59):

There you go. Bash BOSH. I love it. So yeah. Talk to us a little bit about the entrepreneurship. I was doing some research on you. You're upwards of 10, 12 companies you founded so far. You, you had some weird little tie of Vietnamese bread roll shop. You had a seasony business, an iPhone case brand. You did some personal training at one point. Like how, how did you get in all this? Where did it start? Was it like a family thing? Was it just, I watched the internet video and now I'm gonna do this or like give us some background.

Davie Fogarty (00:06:30):

Yeah. You bring up some scars there, but get into it. The um, yeah. So I guess going, going back to school, I, I don't know where, you know, my ambition came from. I think it is a family thing. I think when, you know, grandpa started a, a small furniture business, local furniture business, and I was always surrounded by that, uh, entrepreneurial side. I, I think being exposed to that at a very young age is very helpful. You know, I wasn't, you know, we weren't, I didn't get given everything to me in a very early age, which made me very, very ambitious to, to get it for myself, which I think was really, really important. And then yeah, during school, I kind of just, you know, there's a embarrassing video of me going on stage in, um, in year 12 when I graduate saying that I wanted to be a billionaire when everyone else was like, they wanna do like this, this in university and stuff like that.
So I, I honestly couldn't even remember that, but I think it, it just reminds me that, you know, I have been like this for a very long time, ended up trying university mining engineering. Um, also tried marketing as well, founded both of those, which is ironic. Then, uh, after that, um, all, all in that time I was actually growth hacking Instagram. So we're just using like a shout for shout method, growing niche pages. Um, and I was selling them off and selling promotion on that. I think that that's actually quite a common thing. I'm not sure if any of your other guests have actually been involved in the stages of Instagram, but it was, you know, addictive. It taught us a lot of skills. It taught us a lot about the algorithms underneath these platforms. Um, it's either that or gaming. Right? Yep. And then, um, yeah, so basically after that I went to, um, yeah, I started, I was like, did what any entrepreneur did and should, should do. And used all my profits to launch a Vietnamese roll shop <laugh> and that did not go well. Uh, so $5 roles that cost four 50 to make, it was not a good business model. <laugh> um, what was it called? Did not losing it was good street roles.

Rabah Rahil (00:08:39):

That's not horrible. That's not terrible, man.

Davie Fogarty (00:08:41):

Yeah. It's not horrible. But the, the logo was like, it was like, I just used a logo generator. Yeah. It was so bad. <laugh> oh, I got some <inaudible> but yeah, I, I was there 12 hours a day, seven days a week, just cooking pork rolls and <laugh>, um, lost my minds bit, which, but, you know, all, all in all the same time I was doing Instagrams all granted, you know, there's been, um, been people out there that were growing at Instagrams at the same time as me that, you know, uh, that company's over 50 million value now. Uh, like, so realistically that was my probably opportunity to, to achieve something big. But I, um, yeah, I did the wrong thing. I wasn't measured about it. I wasn't structured about it. I, there was a lot of doubt at that stage where, you know, and this is a good lesson around surrounding yourself with people that understand, or at least exposing yourself to people that understand, you know, like I was, my only exposure was, you know, my, my parents and a couple of, you know, older entrepreneurs that just didn't really understand the internet.
And, um, you know, they're great, great at business in, in, in, in their field. But they, they basically said, look, this is a fad. Like, how are you even gonna tax it? Like what is going on? And, um, back then there was a lot of uncertainty around it. So it's easy to look back what what's happened, but yeah. So, um, out of fear, I, I sold and, you know, I have almost sold so many of my businesses out of fear is just before they take off. And that one I actually did. So, um, yeah, a couple of lessons there as well, ended up, um, yeah, going to Melbourne for a year running, you know, influences and running a consulting side of things for a couple of other brands and then ended up launching calming blankets, Woody pop naps, and, and a couple of other brands as well.

Rabah Rahil (00:10:32):

How did you find a time to do, do you have like a little framework or something that you run in your head? Like a, because when I start to think of business, I'm like, like the old people that you're talking about, like, oh, D this is gonna not work. This is what's not gonna work, blah, blah, blah. And so my head always goes to like, how do you see where the market, like, where you see the product market fit or what product that you're thinking, what's the business model you want to use? What's your go to market? How are you gonna distribute all this stuff? Like, is that in your head? Or is it just intuitive where like, people are just want a big fucking blanket to wear and I'm gonna print money with it. Or like how <laugh> cause like, right. Like how do you come to these things? It's, it's incredible. Like, because you have multiple, you have a bazillion, so is there like a method to the madness or you just kind of happenstance?

Davie Fogarty (00:11:14):

So I would love to say that was a method to the madness back in the day, but it wasn't, it was just like, it must somewhat intuition, but the good news is like, I, I, we, we got very lucky. Like I'm not, I'm not going to pretend that we didn't. Um, you know, if I didn't apply a framework to, to that thinking, then a lot of it should be designated to luck. You know, I think, um, I think the beauty was, and, and I, I hit three winners in a row, you know, coming blankets was doing over 20 million. Um, UY, you know, does over 150 million. Um, and then pop apps, you know, in its seventh month was doing a million dollars a month sale. So it grew very quickly. And that was the three that was the three we, I started with. And, and in, you know, in hindsight, this was wrong thinking, but I was just like, oh, this is easy.
And it, the truth is it's not easy. We all know that now. Like, I, I, I think, um, there was lots of things that I underappreciated obviously, well, this was pre COVID all of those launches, but, um, the, the industry was definitely easier and finding these products, but the beauty of, uh, my, my point was that by finding, you know, three winners or, or four winners were able to, I was able to create a framework, which I now use. Ah, so there was that positive <inaudible> and then, um, you know, and, and then I hit a lot of losers, you know, I I've hit a lot of bad products after that. It was probably like three or four in a row, and now we're hitting winners again. I, I, I really just kind of took all those learnings and I actually just built it into a tool.
Um, it's called trend rocker. It's like a, a piece of sass. Um, it's kind of, you know, it it's very similar to, um, it, it kind of combines the best features of a lot of the, the SPS out there, but then it also integrates with like supply chain, because one of my main lessons, which is part of the framework is really around, um, fragmentation of marketing competitors. So I don't think people really appreciate the, the effect that one competitor, one digitally savvy competitor can have on your CPMs and your, your C when, when they enter your market on Facebook. Like it's, if I, if I break down all three of my successful products at the start, there was literally no competitors running that product in, in, in, in the regions that I was doing it. So it, it, and that's very, very hard to find cuz you need to be very early, right.
There's a good Ted talk talks about the key fundamentals of what, what makes a good startup and you know, is funding, is it people, is it talent? No, it's, it's actually just timing most of the time. So that I think that that applies very much so in, um, the digital landscape as well. Um, so that, that's really what I'm trying to incorporate. How do you understand trends at a global level, understand the digital landscape incorporate supply chain, so you can understand gross margin and ensure you have the, the room to market and grow and then, you know, and then it becomes subjective. You know, what is the total addressable market? Is this a, is it a hundred million dollar company or is this a 5 million niche company that's good for a, a first timer? You know, that, that, that those are the kind of questions that will probably always be ambiguous until, until tested.

Rabah Rahil (00:14:33):

I love that, man. That what's this called again? I'm gonna have to sign up. This is

Davie Fogarty (00:14:37):

Check rocket it's it's it's, it's still, it's still really new. We only went live last month. Um, but yeah, check, check it out and know what you think, um, where, uh, I I'm, I'm, I'm really excited because I, I, I really do think we can systemize finding, you know, massive trends. Obviously the, one of the key things, when, you know, when, when I'm talking about being unique and, um, in a market is so, so critical, it, it is really important to differentiate the product as well. Cause that's, that's essentially, what's, what's going to create that, that room to grow and that, that, that opportunity to get into different in front of different customers as well. So there there'll always be that need to, to customize these things. We're finding that least we're kind of arming, arming people with data before they invest lots of money in the product.

Rabah Rahil (00:15:25):

Yeah. And in a weird way too, it's like you're giving them a more clarity on how to place their bets, which I think a lot of people like I'm dealing with some stuff right now where like unknown unknowns are such a thing. It sounds cheesy and cliche, but like not knowing what you don't know is so painful sometimes. Cuz I man, there's some weird stuff that can crop out of nowhere. You're like what? That's even a thing. And depending on your cash flow, depending on your cash position, uh, run rate, something like that, you know, you can, the rug can get pulled out from under you pretty quickly. That's really cool, man. I love that. Um, by all accounts, you're super happy, super motivated. You're super jacked. How do you stay focused? How do you fit everything in? This is something I'm, I'm super struggling with where, um, early stage startup is not a great life for, uh, <laugh> a relationship or your health or anything like that. It's kind of like this, this crying toddler that is constantly vine for your attention, your money, your time, like everything. So how, how do you balance it so well?

Davie Fogarty (00:16:29):

Yeah, I think there's a, there's a few things to break, break down there. I guess, you know, the health side of things it's, it's obviously about, uh, you know, I think it all comes down to your why and what you're trying to achieve. I think the, as soon as you can do that and effort is, you know, take, you know, triple well or something to, to a hundred million, 200 million billion. I don't know. You realize that, you know, the fitness piece fits in very well with that because you're not gonna be able to do it unless you, you know, raise a, raise a fit and, and you gotta schedule that in, um, and just get, get a bit of routine around it. Um, the relationship side of things, you know, it's, it's about if, if that is your primary objective, you know, I don't want to sound coldhearted or anything like that, but you probably don't have time for relationships that don't, don't support that.
Um, granted, you know, you, you, it, it, it, the, the truth is you, you family and, and that kind of balance falls into family and friends does fall into the fitness side of things, which is, you know, you need that, you need that, uh, support to remain happy and not lose your mind. Like in, when I was doing street rails two years of just 12 hour days, you know, I cut, I didn't, I barely talk to anyone. I was just there and grinding it out and got it. Severely anxious. Yeah. And depressed and stuff like that. So, you know, this is, this is about making time for that balance as well. And I think this is all about knowing yourself, which is a very, very hard thing to do. I think you, you know, your, your thresholds and, and what you require from, um, from these various buckets of your life, and it's, it's, you don't need to over overdo it.
Um, and you can try, try to just try to be very, very mindful about it. My mind would look very different to other people. Um, I, you, yeah, I definitely see friends on the weekend and, and I train, you know, twice a day, um, to try to try to keep that balance, um, wake up super early and, um, find, find your kind of rhythm there. I do time blocking as well. I think that that's really, really important, um, time blocking for tasks, if you are struggling, you know, I think one of the best hires you can ever make is an executive assistant. Like it's just so important. Um, they really do support you. Um, yeah, there's a couple of, couple of tips, but when you love what you do, you know, I, I don't, I don't think you, you go through waves, right? Like, and I, I don't think I've always been like, I, I don't think I've always been the best at this.
It it's it's. I just recently did a episode with Toby P and Simon beard there. I'm not sure if you know them, Toby P just exited sweat for over, you know, 400 million. They sold the business for, uh, Simon beard owns culture Kings. They exited for 300 million Australian businesses and they, you know, they, they told me their routines and discipline around learning and getting up. And like for three weeks after I was just on fire, you know, so it is really about getting that exposure to those other people so that you can learn from them and, and be inspired by them and, and, you know, try to embody them in the, the, the areas that you want to embody them. It's not, not everything you don't need to look up to them for everything. Take different role models in different situations, take different traits, but, um, yeah. Surround yourself with those good people.

Rabah Rahil (00:19:58):

That's a, uh, that's amazing big fans of, uh, culture Kings and sweat, but, uh, culture Kings and specific, big, big sneaker head over here. That's really amazing. So you work out in the morning and the end, that's how you kind of bookmark your day or how do you fit everything in?

Davie Fogarty (00:20:13):

Yeah. Yeah, generally. So I get up at four. I generally take, um, it's a bit hard when it's
Black at the moment in Australia, take the dog for, for a pretty long walk. And then at night, do, do, you know, generally just a wait session as well. Um, but like, if I, if I miss that for three days in a row, cause I'm working like, which I, which I do, like it is what it is, right? Like you're not gonna grow by skipping those three days, but chances are, if you hit it on the fourth day, you're not gonna, you're not gonna lose anything. And, um, you know, you can get back into it. So I think a lot of this stuff is about being gentle on yourself. Like people listening to this or seeing like what I've done or seeing what any of your guests have done, cuz they're all so accomplished. They go like, and I I've fallen into this trap. They look at themselves and they go, why can't I do this? Why aren't I trying twice a day? It's just like, go gentle on yourself. Like you're either not there or you don't need it. Like you're not there yet. You might get there and you can work towards it. You can look at your sleep, look at, look at your diet, look at, look at your habits and traits and whatnot and, and try to fix it if you think about it. But in the meantime, just don't beat yourself up. You'll you'll get there, focus on the main things that matter as

Rabah Rahil (00:21:27):

Well. That's brilliant. That's really good advice. Cuz I've found that in a little bit in myself and also kind of just high high operators where people are just trying to always do their best and you can get caught in this kind of downward cycle of like you beat up on yourself too much where it's like, shit happens. It is what it is. Move on one foot in front of the other and then just kind of keep going. Cuz the, the number one thing that I meet throughout all successful people is perseverance where it's like, people have this almost like unfathomable faith that I'm gonna get there. I don't know how, I don't know when, but I'm just gonna keep marching and that can help you through some of those tougher times. Cuz there, there is. There's always something usually man, the universe does not give up easy, but once you can find, I think your why, like you said, you can bear kind of almost anyhow type of stuff.

Davie Fogarty (00:22:14):

Yeah. There's, there's a narrative fallacy around, you know, these podcasts and stuff because you're only getting such a small snippet. Like you, you don't, you don't hear like the full people fall down and, and it's only until you can really build rapport. Like, like this is the first time we spoke. But you know, I talked to mentors that are absolutely mind blowing and in all accounts you'd think these people never sleep. But the truth is, you know, when you, when you actually get rapport, you're like, what's your darkest moments and they don't get out of bed for three weeks cuz they've made so many mistakes. It's like even Jeff Basos in the early years would just make so many stupid mistakes. So beware of the narrative fallacy it's it's just, um, it's just part of part of growing up and, and learning.

Rabah Rahil (00:23:01):

Yeah. I think that's beautiful, man. I think there's just um, amazing. Um, okay. One last question. We'll get to the value. Add segment. What's the nicest thing someone's done for you?

Davie Fogarty (00:23:12):

Hmm. I, I got two. I think, um, you know, my parents were, were super supportive. I, when I was dropping outta university, they, they, they didn't quite get it, but I, I just did it anyway and supported it. And um, you know, I've been, I've mentioned dark times at street roles and they, they lifted me through that same with my partner as well. She really, really looked after me in those times. So, you know, these are the people that they don't care if you're successful, right. It's just, they, they are here to be, be with you and support you and, and, and just enjoy life with you. Sorry, not, not, not necessarily support, but take the bad moments and, and enjoy them as well because you know, they will come up. So both of those people, I guess

Rabah Rahil (00:23:59):

That's beautiful, man. That's beautiful. Dave, I'm all pumped up now. I need to go read some business memoirs while I'm doing my CrossFit workout. I'm ready, baby. I'm fucking ready. Let's do this. All right. This is why the people bought the ticket, the value add segment. Um, let's talk a little bit about UDI. That's probably your, your biggest company to date. What did you start it? Why is it called, uh, what are the best parts? What are the hardest parts of running it?

Davie Fogarty (00:24:24):

Yeah, so, uh, it's just hoodie without the H that's why it's called it's. It's nothing genius. Um, so <laugh>, uh, I, I created that just randomly. I was just, uh, like late at night, um, when I was pretty young, obviously, um, the, the, the, I, the hardest part about running your business is always going to depend on what stage of business you're at, like initial zero to 1 million. You're just trying to get your first customer, your first profitable customer, 1 million to probably 5 million. You're trying to, um, you know, repeat and create a sustainable flywheel around that existing customer acquisition channel. So one channel, one product, and then, you know, getting up to the 10 million mark, you are looking at more, uh, you know, how, how can you remove yourself from the day to day in certain areas and interesting, then you get, get more, more efficiency through hiring people.
So you're basically building a flywheel there and then things get relat relatively unique. You're obviously juggling cash flow, probably up to 10 million as well. That's kind of your main challenge and opportunity, by the way, I didn't create this stuff. This is just adapted from the book ready, ready, fire aim, um, which is a, a great book. And then, um, where, where there's a huge death trap for eCommerce is around that 10 million mark, which can be achieved, um, relatively quickly nowadays. I, I'm not saying that to, to be demeaning, to, to people that haven't achieved that, but if you do hit the right product, it's the right time, it's that Facebook will probably get you there to be completely honest with a complimentary channel, like Google and email. And, um, but the, the, the tricky part is, is when all the Amazon sellers start coming in all of the eBay sellers in, you know, there there's a ton of, you know, harass for brands that start coming in and eating into your market. That's yeah. So the,

Rabah Rahil (00:26:24):

I never heard that

Davie Fogarty (00:26:25):

The, I think I heard that a geek cat, so that's good. Not claiming that one either. Um, I think Eli said that I'm not sure. Um, yeah, the, I think, yeah, at that point, you know, you're gonna have to rely on your product different, and I think, and your skills in, in content and building a brand, cuz brand is nonlinear. It's going to allow you to really surpass that. And, and that's, that's where, where Woody, we, we succeeded granted, we've got one of the ugliest looking websites out there, but it just converts like crazy. So my, the, the beauty, which was somewhat unintentional was the product was so good that it created the brands and the, the pattern was so unique that it, it protected the brands because people couldn't copy our patterns. They could obviously put a pizza thing, but they couldn't put our pizza on the, on the product.
So it then created virality because it was just so strong. So people were like, this is so good. People were sharing Snapchats to themselves at home, like all of that kind of stuff, which really fueled out our, we had a, somewhat of a viral growth engine, um, through that. And then, you know, when we were doing over a hundred million things got, got very, very complicated and it became very structural, you know, the, the main challenge at that stage for me, not for all founders, but I have heard Ben Francis talk about this, um, when with his business was, you know, I made the same mistake, just not thinking about fi finance and operations as like a key function of the business and somewhat just focusing on product and, and marketing, which, you know, as soon as we, we lost. So we, we, I think we did like 20 million or something like that in November last, last year across all of our geos, but we actually forecasted that we would've done 45 million and we just had no stock.
So we we'll completely sold out for our last two black Fridays in, um, in those Northern hemo hemisphere regions. And that is all because we just kind of ignored operations and didn't have the right ops team. So ended up finding, um, finding a really good retail based COO. Um, so when I say retail, she was, you know, managing stores here and, uh, big, big kind of chains as well, like in conglomerates of brands. So they have all of the merchandise experience. They can, um, you know, manage spreadsheets like crazy. They just have a really good eye for forecasting, which is really important. Can somewhat predict the future in that regard. And, and, and people that come from these kind of legacy businesses, they they're just, they're just beasts, right? Like they, to, to last that long in that kind of environment, they really bring a level of maturity to our, you know, young eCommerce team.
So I think that that's something that I was missing. I was still hiring really young, young people, um, in that situation, which there's nothing wrong with that. It's part of our culture and, and we all work really, really hard, but these, she really did turn the business around, um, and, you know, replaced the entire ops team. And, and then we ended up, uh, doing the same with the finance team and now it's, uh, it's humming along really, really nicely. So now our channel is now our now our main challenge has, has changed to, um, there's something called the Ansoft matrix. If, if, if you, you always wanna look it up and it talks about how to achieve, um, how to achieve diversification. So, um, you've got product diversification or market diversification as well. And I like to think of market diversification as channel diversification as well.
So really trying to mitigate the, the effects of these big changes by diversifying our acquisition, um, methods. And I don't think that that's entirely achievable with our core product range at this stage. So really looking at looking at our core product range, and we're also looking at more, a more sustainable, um, business model, like evergreen cyclical products, like pajamas and stuff like that that are always, you know, B and trend, but it's just about the pattern and the, and the block. And trying to understand if, if that is, that can be, you know, a 200 million business in itself. Uh, I'm not sure if you're familiar. There's, there's some, uh, there's a big PJ brand in, in Australia that there really does, um, capture that, that comfort wear segment very, very well. Mm-hmm, <affirmative>, there's not a global comfort where brand to be completely honest. I, I, I, don't, there's a couple of lounge brands that focus there, but comfort wear, I, I can see is a different, different segment. Um, really bringing moments of happiness and joy, uh, through comfort being, um, being, feeling safe and those kind of those feelings, I think that we can kind of encompass that through the, um, and our product development. So I'm not sure if that was a big ramble of, of nothing but

Rabah Rahil (00:31:26):

No, that was super fascinating. What was the matrix called again?

Davie Fogarty (00:31:29):

It's called the, an soft matrix. Um,

Rabah Rahil (00:31:33):

It's en soft,

Davie Fogarty (00:31:35):

An soft. Yeah,

Rabah Rahil (00:31:36):

Amazing. I've never heard that I'm learning, I'm learning so much. I need to note take on this. I have to go back and rewatch it. That's fantastic. That is fascinating to see though. Um, cuz we felt that firsthand as well, and it's a little different we're B2B SAS, you're D to C, but there's this unique feeling of almost like basically those benchmarks that you're talking about are milestones. If you will, where there's different people needed. Cause almost at the beginning almost everybody's a generalist where you need to be, be able to wear 78 different hats. And then as you scale up, you get into these kind of more specialized roles. Um, but then there's also a certain aspect to your point of like, it's not all about just bringing in money or acquisition, it's about profitable acquisition and then matching that demand with your supply and then understanding, can you get more favorable terms?
There's all this kind of like boring stuff, quote unquote, like that operators and you don't run into them until you hit those kind of economics of scale where if you're only, you know, a $2 million a year run rate business, you're not gonna go push, you know, manufacturers around. But if you're 250 million a year business, you can start to really make moves. You get into some, some cash conversion stuff that, um, is, is again kind of boring if you're into like you like the product, the, the feeling, the marketing and stuff like that, but absolutely requisite to hit those different step changes cuz you, you just keep hitting up against a wall. I feel like. And for some reason I used to work within that 10 to 50 million a year run rate businesses and that 10 million does feel like that weird inflection point of like you either have to grow up or be happy with the business at that, that rate, right?

Davie Fogarty (00:33:18):

Yeah. A hundred percent, a hundred percent. It it's generally that, that ceiling, that, that main channel cuz like Facebook, the reason why we all spend there the most is because that's the most efficient channel. We're not, we're not married to Facebook. We don't really care to be completely honest. It's where we're gonna get to this return for our box. So, um, yeah, that's, that's generally ceiling, I think in uh, terms of your previous statement. I think it's all about the questions you're asking yourself. And again, it comes down to the people you're surrounding yourself with and, and there's, I think in Naval created this, it's your information diet. If you are in 40, you know, a by a Facebook groups and you know, just looking at, you know, like just Twitter and you just follow marketers, you're just gonna obsess over the marketing questions and optimize things to tee there.
But if you go, if you go into LinkedIn and follow a bunch of supply chain experts and like finance experts and just digest everything that they're posting, you're start asking different questions to be aware of your information diet. You know, I think I, I, I can see a couple of inflection points around like the knowledge that I had and, and both of them sit around, you know, something like geek out or, uh, I hadn't been to an affiliate world, but I hear it's pretty good as well. And like it may, it might come from, it might come from the speakers, but it might just come from a, a little tip that you learn from everyone else. I think, you know, if you learn one thing at one of those trips, you know, it's, it's worth doing so, uh, in the early stages, I would go to literally every single one and just try to talk to everyone.

Rabah Rahil (00:34:56):

Yeah. I've found that is actually the B the biggest changes for me as well was, uh, being able to rub up against people with different perspectives that have done it. Um, and then you have this, this actionable insight that then you can not only, um, if you can't integrate it, reference it to lead you down a path of, to your point. I love how you put that, where, um, you start asking better questions, more precise questions, more impactful questions that can then, you know, start to have 5, 6, 10 points a lift on the business versus this 0.2%, because you change the button color from this screen to that green where it's like, not that there's not a place for that, but, um, at the end of the day, especially as the CEO or the founder, um, even as CMO, I see myself as a capital allocator, right?
To your point, like we buy ads on certain channels because they're effective. If I could buy billboard ads and get, you know, X amount of signups for Y amount of K I'd buy billboard ads, I have no, no, uh, dogma in terms of how my spend is deployed, but I love that David that's really, really awesome. Um, if you were start to start a company tomorrow, what would be the first social network you would start building cuz you're, you're pretty prolific across all of 'em almost, I mean, your Instagram is a little, not in the league as your YouTube and TikTok, but your YouTube and TikTok are, is proper proper scale there.

Davie Fogarty (00:36:14):

So what's the question start at?

Rabah Rahil (00:36:17):

What would you, if you started a company tomorrow say, uh, UDI 2.0 or whatever it is, um, product agnostic, um, what social network would you start building it at?

Davie Fogarty (00:36:27):

Yeah, it's a good question. Like, like I think we answered it before where the best return on investment for, and you you've gotta test that. Like it might be, it might be TikTok organic at the moment. I didn't think that that's sustainable. That'll go away. Like it always has its history. That's, that's true. But you know, where if it's better to pay creators or spend your whole day filming content, then, then do that. I, I think the, by learning paid though, especially as a beginner, you're going to have a skill set. That's gonna make you look at the life differently. Yep. Um, and, and, and I think that, you know, there's, there's businesses out there that hire investment bankers to come and run that media by like cuz just cuz it is capital deployment. It is business 1 0 1 and as a founder, as a CMO, as any, anyone you're going to need to learn that. So I really do like that. But at the same time, the creative creativity angle really is a different side of your brain and, and really it will, will hold you in good stead. So, so maybe you do both and, and they both obviously lend itself. So TikTok and, and Facebook that this stage in terms of our Instagram. Yeah. I don't, I don't really post that that much cuz I've got a lot of friends on there and it's kind of just like, they don't, they don't wanna see that, that shit <laugh>
Your old stuff. No, they don't, they don't actually say that, but um, yeah it's I just post a bit less frequently then. Um, YouTube, YouTube obviously goes, well, we put a fair bit of effort into that to try to help young entrepreneurs.

Rabah Rahil (00:38:03):

Yeah. It's a great channel. If you guys aren't subscribed smash that subscribe button, um, what gives you more gray hair? I mean, obviously you don't have any gray hair, you have a lovely head of hair. Uh, go check out his Instagram, uh, pup naps or UDI,

Davie Fogarty (00:38:17):

Uh, UTI. There's the bigger, more money, more problems, you

Rabah Rahil (00:38:22):

Know? Yeah, yeah, yeah. Amazing. Um, let me see what else. So in the next two to three years, how do you see like e-commerce do to see unfolding?

Davie Fogarty (00:38:37):

It's a good question. Like I hope I hope Shopify doesn't start bullying people like a biggest advocate of, of Shopify. Um, I, I think they're incredible. I would hate to see them to start price gouging and, and start doing that stuff. We've seen that happen with apple when they just have platform dominance. I think, I think the, if, if they can execute on what they're trying to do, the fulfillment centers, uh, and, and getting that delivery time down to rival Amazon, it's going to be very, very good. I think us is absolutely overrated for eCommerce. Like just launch your business in any other market and you'll probably do better in the short term. Um, the, the first time founder is granted, if you're raising, if you've got a completely, you know, revolutionary idea us is probably gonna gotta work work better, but most ideas, in fact, all ideas are just iterations on previous ideas.
So, um, yeah. Make sure you unique. So I think all of these other countries, Australia, UK, Canada, maybe the UAE like Brazil might be kind of further away, but you know, I think that there's going to be some great, great opportunities there. Uh, in Europe there's a lot of countries in Europe that you can kind of, uh, take advantage arbitrage the traffic. Yep. But yeah, I, I I'm, I'm, I'm excited about the opportunities within eCommerce. However, I do believe the business model is inherently flawed and you think we need to stop thinking of it as a comments and direct to consumer, like there's one brand that I've talked to this actually there's a couple, but uh, just trying to be dramatic. Um, there there's, there's like one person I've talked to that, that doing solid solid numbers and they're gonna grow. Um, and you know, they're not a new business and they're gonna grow versus their COVID years, which is, which is, you know, everyone's up against tough times at the moment, um, to get any growth is good growth in any, any regards this year to completely honest.
Yep. But you know, he's gonna grow. And, and the reason why is he is, is, is in every single major us retailer and he is running ton of TV apps for his very unique product that he's got a billion paintings on. So it's, it's, it's really a different kind of game that he's playing than a lot of other people are playing that are selling commoditized products. Right. Um, you know, formulations of, of similar products, like, you know, skincare that's that stuff's gonna be going to be tough. Um, all of those kind of business models that have existed, unless you, you can't just rely on direct to consumer, you know, I think you really need to build, um, build, build distribution elsewhere, whether that is through channels like Amazon E retailers, but also wholesale as well, I think is important. Um, so yeah, I think that that that'll adapt as well. I, I think channels, it is gonna keep getting worse as well, like way, way, way worse. I think privacy it's only just begun. So, um, yeah.

Rabah Rahil (00:41:49):

Yeah. That's, that's really interesting thesis. I I'm I'm on board with that mostly. I think that the privacy wars, um, apple will start just keep PLA I mean, it's just so economically tangible for them that they will do it Google then follow suit. Um, it's interesting your thought on the D TOC business, you, I think you might be right there because when I think about it almost all the big D TOC exits that I can recall, um, were primarily predicated on growth, not actual, um, like big, big multiples on the top line kind of thing, not actual profitability or anything like that, where I can't think of like a really big, big D to C exit. And maybe that's why, because you, you have this inherent ceilings to this one channel where you need to get into wholesale, you need to get into retailers, you need to start opening up these distribution to make kind of this full fledged peacock of profit versus, you know, this, this fire hose of DDC, because to your point, if the business model's not there where it's not some sort of recurring, you're gonna get crushed, cuz you're just gonna have to keep acquiring new people.
And then eventually, unless you have this crazy unique product, you're gonna hit a point of ion returns and then it get, just gets challenging to really start to scale the volume at a, at a profitable efficiency, right.

Davie Fogarty (00:43:08):

A hundred percent. I think that like the, the dream of the exit is the gym shark exit with general authentic. Um, they, they, they sold a decent stake, but you know, they, when, what, what is the, what is the comp it's like, oh, is, is Nike the comp or is, is there a different, is there a different comparative co to create that valuation? Yep. Um, that is entirely D to C um, if they can, you know, if they can overtake Lulu lemon and stuff, I don't actually know if they already have or not to be completely honest, I don't follow closely, but the other one is native deodorant. I was listening to, um, uh, uh, Moise, a podcast of the, the other day. Yeah. He's, he's, he's incredible. And um, their, their product could sell. Like, it was just interesting hearing him talking about like as soon as they exited their first time, they did PR and then there was a hundred, you know, Proctor and gamble.
Like every single Proctor and gamble brand was probably releasing one straight after that. So you look at that as like, oh, the only reason it's succeed. Like the only reason there wasn't a million competitors is cuz he wasn't talking about it so much. Um, and his, and his figures, which is a good lesson in itself. So yeah, inherently flawed unless there's a, a lot of protection. I think it all comes down to that first stage at product development stage. You know, if you're just looking to create a $10 million business, the truth is you can, you can be less strict about that, but um, yeah, if you want, if you want, you know, a billion dollar business or something like that, you can have to do something pretty special and not just be a D TOC brand.

Rabah Rahil (00:44:46):

How fascinating. Yeah. Moise is great. He was, he's actually been on the pod as well. And he, he had some hilarious stories, uh, really interesting. And though it kind of goes back to your thesis as well though at the beginning, right? Like either have this super innovative product that nobody else is consuming where you're essentially creating a market for it or market maker, if you will. Um, and then get the hell out of there with an early exit or start to build moats around it with some sort of patent or community or something that's really hard to replicate, um, quickly, like you just can't buy a community, right? Like you, there's these things that are hard to replicate, um, no matter what the resources you have. And I think those are gonna be really important as well, to insulate your brand from the, um, who asks for kind of brands. I love that love. That's

Davie Fogarty (00:45:31):

Amazing. I think like, I think the better business is, is whether zero cost of reproduction of the product so far less, you know, your gross margins gonna be way SA

Rabah Rahil (00:45:41):

Yeah. SA

Davie Fogarty (00:45:42):

Literally that's why I'm getting into, because it's, it's such a great business. Um, I, I, it's such a fun business as well. Like it's so cool. Yeah. Um, it's just the power of God beneath your fingertips, that making things do lots of things. It's just really cool. Yeah. Um, the, but yeah, I, I think I wouldn't sleep on that, um, for, for other brands as well. I think that there's other angles as well, like creating I've saw Ridge, you know, bought, bought a media company and I've heard, I've talked to a couple of other founders that bought, you know, Facebook pages and groups that were doing like, you know, four, $4,000 profit when they bought it. And then there's Facebook switch monetization. Now they do like 400,000 profit a month. It's just madness. So there's other angles. I don't know how effective those, those, uh, other pages are at cross selling products. Um, uh, you know, I think that, that there needs to be severe amount of relevance and alignment with the existing audience, but there's cool stuff. There's plenty of cool stuff to do out there. I think that, you know, we need to, you know, expand our minds as well about how we utilize our capital. Cause it might not just be about launching dropshipping products. You know,

Rabah Rahil (00:46:55):

I am totally with you on that. That's where like, obviously you don't wanna see people lose their job or go outta business or et cetera, but that's kind of just one of the challenges of capitalism is that there's winners and there's losers. And, um, I, I, for 1:00 AM totally fine with drop shippers kind of going away where they never see a product and nothing wrong with arbitraging or anything like that. But at the same time, I like to see the, the real products win where there's, there's somebody that they care about it and they're behind it. And there's an actual job to be done value to be added, um, versus just, you know, uh, basically arbitraging underpriced inventory for a really crappy product that people are never gonna buy again. <laugh>

Davie Fogarty (00:47:36):

A hundred percent, a hundred percent build something of value.

Rabah Rahil (00:47:39):

Yes, exactly. Um, Davy, you made it to the rapid fire. Are you ready?

Davie Fogarty (00:47:45):

I'm pumped. Let's do

Rabah Rahil (00:47:46):

It. Ah, all right. Uh, TikTok, overrated, underrated,

Davie Fogarty (00:47:51):

Underrated.

Rabah Rahil (00:47:52):

Ooh. I love it. YouTube overrated, underrated.

Davie Fogarty (00:47:56):

Underrated.

Rabah Rahil (00:47:57):

Oh, wow. Two underrated Australia, Australia, overrated, underrated.

Davie Fogarty (00:48:02):

Um, so biased. Like I, I don't know. I think it depends what you want. You know, I, I, I, I love it obvious. I, I would never go anywhere else, but Fred for holidays, I don't know. You got you. Tell me,

Rabah Rahil (00:48:16):

Where would you go? If, so, if I were to visit, what would be the Australian tour? How would you do it?

Davie Fogarty (00:48:22):

Brisbane? Just head to Brisbane, go to the reef. Nah, you could pop down to Sydney. You'd be one Sydney C on Melbourne, but definitely go to Brisbane. Um, if you wanted to fly all the way over to path, they've got some of the best beaches in the world, so you can go whale, shark, diving and stuff, but the reefs up around Brisbane, it would be hot and perfect for you all year round, you know?

Rabah Rahil (00:48:43):

Amazing. Amazing. Um, you talked about this a little bit earlier, but uh, Shopify, overrated, underrated.

Davie Fogarty (00:48:50):

Oh, is so conflicted. It's it's so underrated. It is best. Uh it's you know, um, there's so many things that they could do to make it better for us. And I think that they're trying that, you know, their product iteration kind of looks like triple, well, you guys roll out before product a week and they do as well, which is, which is sweet. So I, I, I I'd like to say underrated at this stage, but there's so many other cool things that they could do to, to, to allow us to win.

Rabah Rahil (00:49:20):

Let me ask you a quick follow up question. What do you think their biggest opportunity is? Like if you were Toby, what would you be driving in towards? And then what do you think their biggest vulnerability is?

Davie Fogarty (00:49:30):

I think like, well previously it was like I was talking to Shopify team, uh, in Australia I think was like a year ago. I was like, there's not even split testing within like click funnels has got split testing. You guys don't. Uh, and that was really true, cuz you know, you need to hook up Google optimize, you might need to get a developer. It's just like this, this stuff. Couldn't just increase your revenue by like 20% just by rearranging some things. It's just like nobody has conviction or the ability to do it. Think about the uplift there, but it has to be those apps and, and the fact that like, if they can like apps are great, they obviously have so much incremental, uh, incremental gain for our stores as well. But if they can make 'em faster, better, cheaper for, for us and, and more effective to bump our revenue and increase their Shopify payments.
Like I think that that would be really, really good, but yeah. Check out split testing, those kind of things. Uh, support speed. The 2.0 themes are fantastic. So by basically a lot of this has been solved and then, then moving fast, uh, in that, in that positive, positive direction, the lookalike audience was my second thing that I was just like, when I, when I read it, I think was Moise again, talked about it. I was like, this is, this is where it's at. Like, this would be fantastic. And then the final thing is Raveling Amazon. Yeah. It's just like, I don't want someone, I want someone to see the Shopify footer or layout the debut thing or the Shopify checkout and go shit. Like I can trust this shipping method to be really, really quick. So, um, yeah, I think that that that'll really, really help things along. So it's all about customer experience at the end of the day and aligning their brand with, with that positive customer experience that Amazon's so renowned for.

Rabah Rahil (00:51:17):

That's incredible. The, uh, split testing is really interesting. Um, what do you think their biggest vulnerability is? What would keep you up at night if you're running the big Canadian beast?

Davie Fogarty (00:51:28):

I think, um, I think the, the, the vulnerability is in there like is in, they, they do have a moat. The, the switching cost is incredibly high and, and there would be no reason to switch right now, but simple migrations, you know, they, your URL structures are completely different to someone like big commerce and these other guys. So they have a very, it's very, very tough to switch away from them. Um, but you know, if they, if they did things that I mentioned before, you know, if their Shopify payments methods started to go up, um, it, it could end up becoming, coming worthwhile to, to switch. But that being said, I, I really don't have have many complaints about Shopify, as I said, it's a, it's a, it's definitely a love, love, love, love relationship at this stage. So, um, I think they're doing a great job.

Rabah Rahil (00:52:24):

Yeah, no, I, I echo that completely. The split testing is really interesting. I think the other point too, and they're trying, I mean, that was their biggest acquisition. Obviously it was, I think only a couple months ago would deliver, but, um, I think the making the supply chain and kind of distribution easier on people, um, or merchants in specific, and then to your point of trying to reach some sort of, at least mental parody of like, okay, I get an Amazon package in one or two days and a Shopify in three or four, or just something where you start to build this, uh, customer expectation. Um, but I gotta tell you I love shop pay. I think shop pay is the best experience shop, pay, and then apple pay on the phone. I think those are just the two just stellar experiences on the Innerwebs right now. Like great way to check out. Isn't it,

Davie Fogarty (00:53:08):

Isn't a shop pay 5% transaction fee. Like that's, that's get

Rabah Rahil (00:53:13):

You. I'll get you.

Davie Fogarty (00:53:15):

<laugh> I'm like, like that that's that's crazy stuff. I granted if it increases conversion rate, but is that, is that like warranted around around the transaction costs? Like, I, I don't know. I'm that technical,

Rabah Rahil (00:53:29):

It's a fair point. Um,

Davie Fogarty (00:53:31):

But the, the other opportunity that they do have is, is Clavio, like going after Clavio, you know, they're raising prices as well, uh, by the way, I'm not, I'm not stingy or anything. Like, I'm just trying I'm I'm when I, when I talk about this stuff, I, I really do think about the, the effect that it has on the ability for businesses that are struggling with cash flow like me in the early days, and my ability to, to grow, get return on investment on these tech, these challenges, um, on these channels. Sorry. So yeah, that, that's, that's generally why you hear a little bit of like frustration if they kept raising prices and, uh, or a little bit of fear probably. Uh, I don't think they've gone too far at this point to be very clear, but yeah. If, if they could, um, really keep the, the Shopify email, uh, ticking along and, and invest in that product, that would be really cool. I'd be very down for that.

Rabah Rahil (00:54:27):

Yeah. I think that's a really huge opportunity for them. Um, because they're almost everybody's biggest line items in their tech stack is Shopify plus and Clavio. Right. And so if you can roll that in, or it's your point, sometimes Clavio can be a can to kill a mosquito for some of these people just starting out. And so having to eat that nut right up front versus just folded into the shop of I payments. Totally. Yeah. It's amazing. Uh, Croatia, overrated, underrated.

Davie Fogarty (00:54:55):

I've only been there once and it was a big party trip the entire time, but

Rabah Rahil (00:55:05):

I saw it on your Instagram. It looked gorgeous. So I had to ask about, I've been wanting to go. Yeah,

Davie Fogarty (00:55:09):

I can stay underrated. It was awesome. It was such

Rabah Rahil (00:55:12):

A good term. Amazing. Um, if you could hire anyone, you had a blank check to do an DY collab with who would it be?

Davie Fogarty (00:55:20):

Ooh, I was, I was trying to get rebel Wilson. Oh, do you know rebel Wilson? No.

Rabah Rahil (00:55:25):

How do I know that? Yeah,

Davie Fogarty (00:55:26):

She's Aussie. She's she's hilarious. She's such a funny,

Rabah Rahil (00:55:30):

Oh, I do know her. Yeah, yeah, yeah, yeah. That'd be great.

Davie Fogarty (00:55:34):

She's so good. But like, it, it is really around the brand direction. Like she encompasses our brand like lighthearted fun, like warm and, and whatnot. I, I think, um, there, you know, I think there's a, there's a comparison to be made with CROs as a business model to like they they're beast, great business. That

Rabah Rahil (00:55:53):

Business is great

Davie Fogarty (00:55:55):

Business. The rest, you know, they did Valencia, AGA collabs and stuff like that. And, and really tried to, you know, get their product worn out Dallas, which I think's pretty sick as well. So we've got some big, we've got some big things lined up in, in that area and collab, but, um, the,

Rabah Rahil (00:56:11):

The Gucci UTI collab, I'm totally in, I've been trying to get the north face. They did, uh, Gucci to collab with north face as well as Adidas. And they're just, it's amazing. That would be hilarious. You're right. I like that a lot. Um, I know you're pretty healthy, but favorite meal and why, what do you, what's your favorite meal?

Davie Fogarty (00:56:30):

So I actually just eat Uber eats every single day, just to save time, like three, four meals a day, just Uber eats. So like whether that's healthy or not, like, I, I understand the macros that I need. Um, I granted that I do miss home cooked meals, but, uh, it's just a time saving thing. So I know fussy just, uh pizza's. Pizza's good. Subway's good. It's all good.

Rabah Rahil (00:56:56):

Amazing, simple man. Simple pleasures. I love it. Um, I know you have, uh, one, one dog, two dogs, one dog,

Davie Fogarty (00:57:03):

One dog is actually downstairs cuz I was, I annoyed that he was just gonna be chunky. Yeah, I was trying

Rabah Rahil (00:57:09):

To, is his name Sherlock bones or is that just a hashtag Sherlock? That's the most? <laugh> that's amazing. So he's

Davie Fogarty (00:57:17):

Not smart though. He's not smart. Gonna be intelligent.

Rabah Rahil (00:57:24):

Well, cuz he is a golden right. Retriever. Yeah. Yeah. They're supposed to be really smart. Is that your favorite type of dog or what's your favorite type of dog?

Davie Fogarty (00:57:32):

Honestly, I, I, I didn't really, I wasn't obsessed with that breed before, before I got him, but I, I got him and now there's I don't can't imagine myself getting the dog, maybe a Bernie's.

Rabah Rahil (00:57:42):

Oh, those are cool.

Davie Fogarty (00:57:43):

But you want more happiness in your life? Get a golden retriever. You'll be

Rabah Rahil (00:57:48):

Sweet. I love it. Um, what's your favorite YouTube channel

Davie Fogarty (00:57:55):

Alex or mosey by, by

Rabah Rahil (00:57:57):

What a G right?

Davie Fogarty (00:57:58):

The guy is guy is a beast like that, that way that he synthesizes and can communicate complex subjects like I've, I've, you know, I've tried and honestly doing that kind of stuff is incredible and it shows deep understanding, deep, deep understanding and, and learned lessons that he's applied that understanding to. And yeah, if, if you guys haven't checked them out, like he'll, he'll change, change your perspective on a lot of things. So every lunch break, you know, I, I don't watch TV before seven 30 at night, just like, cuz I've just, it's made me do so many other things, but I'll just watch, watch his YouTube and just learn, uh, like every lunch and after work and stuff like that.

Rabah Rahil (00:58:39):

It's crazy. He's fantastic. He's also intoxicating. Like he's just a super fun guy, right? Like you'd love to have a yeah. Charismatic and just like yeah. What a great his, his wife's starting to pop off a little bit as well. Um, uh, but yeah, Alex is a G man. Very, very great stuff. I love the, he paid all that money to the uh, what's his name? Uh, the real estate guy grant card down. <laugh> he just slaps the video on YouTube. What a gangster. I love Alex. Um, favorite place travel to and why?

Davie Fogarty (00:59:09):

Oh, I'm gonna go somewhere. Oh nah, Switzerland's

Rabah Rahil (00:59:14):

Pretty cool burn or it's pretty cool.

Davie Fogarty (00:59:16):

Yeah. Uh, I can't even remember where I went, um, to be honest, but yeah, no, I think it was, was there. It's just like, I like, I like trips where you can find a lot of peace and I think serenity really allows that peace. Um, you know, I, I love going to like barley and stuff like that and Croatia, there's a lot of hustle going on there and it is harder to find that you new. York's a great example. So, um, getting in touch with nature is a little great. Um, and I love Oregon as well. We've got a business in Oregon. I can't wait to go back.

Rabah Rahil (00:59:50):

So Pacific Northwest is gorgeous, especially if you're, if you don't mind the cold it's gorgeous. It's it's one of the more beautiful. All right. Last question. And you'll make it through the rapid fire. If you could have dinner with three people dead or alive, there's a four person table. You're sitting at the head of it. Who's getting the three invites.

Davie Fogarty (01:00:09):

Iland Musk, Steve jobs, Warren in buffet. Wow.

Rabah Rahil (01:00:12):

What an enterprise and table. That was a quick answer to DVY you're on it. Amazing

Davie Fogarty (01:00:18):

Base. Well maybe Michael Jordan, just cuz he's a boss. I don't know. I give me four,

Rabah Rahil (01:00:25):

Give you actual I, we can, we can put an extra seat for MJ. Of course. Davey, you made it. The podcast dun and dusted baby. Incredible. You got to show off your, uh, incredible knowledge, your awesome Ironman helmet. What is that koala? A parrot is that avocado as well. I mean you, you got it all back there.

Davie Fogarty (01:00:44):

We've got it all mate. That was awesome. Thank you so much for having you. Um, it's it's a huge honor. I'm big fan of triple you guys are crashing it. You're gonna, you're gonna make a lot of lives. Easier. eCommerce lives easier. So appreciate

Rabah Rahil (01:00:57):

You. Oh, amazing. Amazing. Dave. You tell people how they can follow you. Where do they subscribe? How can they get it DY? This time is yours? My friend.

Davie Fogarty (01:01:05):

Yeah. YouTube or Twitter? Davy. Fogarty. D a V I E. Fogarty. Yeah. Let me know if you need any help. Happy to happy to reply.

Rabah Rahil (01:01:14):

Amazing. Grab an UDI. What's the URL. Just uti.com.

Davie Fogarty (01:01:19):

The udi.com. If it's Australia, uh, you'll get redirected the SubD domains if you're in us.

Rabah Rahil (01:01:24):

Amazing. And then if you have a puppy pup naps.com or what's the

Davie Fogarty (01:01:28):

Pub naps.com. That's the one

Rabah Rahil (01:01:30):

Let's go kids. Let's go, Dave. You're the best we gotta get you out to Austin. We'll do, we'll do another podcast in person. It'll be a good time. That'd

Davie Fogarty (01:01:37):

Be awesome.

Rabah Rahil (01:01:37):

It's not, it's not too bad. Yeah. Next time you come stateside. We'll just bring you back over and then you can just hit the east. Sounds good. That'd be great. Sounds

Davie Fogarty (01:01:44):

Good,

Rabah Rahil (01:01:45):

Dave. Thanks so much again for your time, Dave fogger to everyone. Appreciate you. If you wanna get more involved in triple oil, we are at triple oil on the bird app, triple oil.com for the website to sign up for a demo or just start printing money today. And then what else do we got? Oh, well mail newsletter goes out every Tuesday. Thursday. Be sure to subscribe there. Davey. Appreciate you. My man. Awesome. Awesome answers. I have some work to do. I'm gonna go get my two, a days on with my Alex. Hermo uh, streaming in the background. Right? Appreciate your brother. Uh, that's another, you're not your realizing the books folks. Thanks again for joining us and we'll see you on the flip.

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