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Cam Miller and Akin Onal, the founders of MORI/BabyMori.com. Cam is the chief growth officer and co-founder at MORI. He is responsible for building out their essential babies\\u2019 brand and the creative use of marketing and technology. This summer, he represented the brand as one of the 500 startups at Mountain View Accelerator. Prior to MORI, he studied an MBA at London Business School, had various roles in Australia, France and the UK, and studied engineering business development finance and event management.

Famous Five:

• Favorite Book? \\u2013 The Lean Startup (Cam)
• Most recent read book \\u2013\\xa0 Bhagavad Gita
• Favorite online tool? \\u2014 Slack (Akin)
• How many hours of sleep do you get?\\u2014 7-7/5 (Akin)
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cI wish I got into entrepreneurship a bit sooner\\u201d

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Time Stamped Show Notes:

• 01:08 \\u2013 Nathan introduces Cam and Akin to the show
• 01:47 \\u2013 Cam and Akin met at JP Morgan
• 02:12 \\u2013 There are a lot similarities between what they were doing at JP Morgan and what they are doing now
• 02:19 \\u2013 MORI is a direct-to-consumer business model
• 02:33 \\u2013 MORI has over 10K customers over 50 countries acquiring 1000 additional customers per month
• 02:57 \\u2013 The non-subscription model is what MORI have on most countries
• 03:05 \\u2013 MORI has really high repeat orders per month
• 03:13 \\u2013 MORI is looking to relaunch a new and improved subscription model
• 03:31 \\u2013 The sleeping bag has been their bestseller for the last 6 months
• 03:51 \\u2013 A repurchase is when the same customer buys the same item, but a bigger size
• 04:35 \\u2013 Half of the revenue per month comes from repeat customers
• 05:15 \\u2013 The sweet spot on sales for repeat customers ends around 2-2.5 y/o
• 05:45 \\u2013 Average cart price is $100
• 06:26 \\u2013 MORI uses Klaviyo and MailChimp for their upsell
• 07:21 \\u2013 The website\\u2019s product recommendation is manual
• 08:35 \\u2013 2016 topline sales was around $500K
• 09:00 \\u2013 2017 goal is $4M topline
• 10:03 \\u2013 Cam and Akin have pivoted over 1 and half years
• 10:09 \\u2013 MORI had a subscription model before the e-commerce
• 10:24 \\u2013 After launching the latest collection in an ecommerce platform, sales went up
• 11:32 \\u2013 The subscription is only for a specific product
• 13:20 \\u2013 A repeat customer is the one who goes to the site to buy again
• 13:33 \\u2013 The subscription model is almost phased out
• 14:22 \\u2013 A lot of the products on the site are bundled, but they\\u2019re not part of the subscription
• 14:45 \\u2013 The customer cohort of MORI outgrows them
• 15:53 \\u2013 Paid acquisition last month was $50K
  • 16:14 \\u2013 They\\u2019ve recently launched a retargeting program
• 17:00 \\u2013 MORI just closed a $2M round which was an equity round
• 17:28 \\u2013 LTV
• 18:14 \\u2013 LTV is measured on the growth trade and not on revenue
• 18:31 \\u2013 Pre-money valuation
• 19:45 \\u2013 The Famous Five

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3 Key Points:

1. The right model for your business can be proven by an increase of revenue.
2. Keep in mind that your revenue growth is NOT the only basis of your LTV.
3. Start entrepreneurship as early as possible.

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Resources Mentioned:

• The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books

Show Notes provided by Mallard Creatives