EP 348: 11,500 Paying Him To Manage One-Piece Wardrobe with Blake Smith
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What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Okay, Top Tribe, remember, every Monday I give one of you $100 to invest in your idea to help get it to the top. To enter, subscribe to the podcast on iTunes now and then text the word NATHAN to 33444 to prove it.
How did Blake Smith and his team test different business models?
Again, that's NATHAN to 33444 to prove it. Last week's winner was Mike Sherbakov. Mike runs his own internet business. He's doing between 100 and 500K per year. He's a blogger, author, and influencer, building his business listening to the top. Top Tribe, you know I don't have a lot of time to waste. That's why I use FreshBooks to send out invoices and make sure I'm collecting my money. To get your free month, go to nathanlatka.com forward slash FreshBooks and enter the top in the How Did You Hear About Us section. Top Tribe, this is episode 348. Tune in bright and early tomorrow morning to hear how Pavan and why he's so, so, so smart. So why did he quit for a startup? He breaks down why. Top Chive, good morning.
Our guest today is Blake Smith and he's the CEO of Cladwell. Cladwell helps people look great with fewer quality items of clothing. Blake, are you ready to take us to the top? Let's do this. All right. What is Cladwell? Explain to me what Cladwell is and how do you guys make money?
absolutely yeah cladwell helps you do more with fewer items of clothing and so in the fashion industry we're kind of a sole actor in a way in that our focus is actually that you buy fewer items of clothing and when you do buy that you buy quality and so what we sell is we actually sell a tool that helps you one get dressed every single day from the items that you already have in your wardrobe And two is make sure that wardrobe is comprised of the smallest number possible of high quality items. So we're actually helping you shop less, which is kind of strange in the fashion industry.
Well, and I really like, I mean, when I go to your website and I kind of look at it, you do a really interesting thing, which I want to jump into the numbers on, but you have kind of the general option at the top, but then you have like this. Kind of this neat, very easy to read quiz that kind of goes down the page and says things. It's always best to be overrated. Do you agree or strongly disagree? And then you do the money. You have like a question about how much do you spend on a clothing budget and then like how often, you know, are you leisurely or going out or smart or suiting up? Do people fill this out? I mean, do people actually get through this whole thing?
Yes. Actually, the more questions we added up to that point, the more people actually filled it out, which that was really interesting.
That's really interesting.
Yeah, we was kind of counterintuitive. At first, we only had one question and then we got people in. It's kind of interesting to see how people actually want that engagement. Because really good in the selling process, it's good to ask questions, right? Because people feel known and they feel like this is going to be something that's personalized for me.
So how many people, first off, when was the business founded?
Two and a half years ago.
Okay, two and a half years. And so how many people, I imagine this quiz hasn't been up the whole time, but how many people have filled this out?
Over 200,000. 200,000.
Wow, that's amazing. All free and organic or is there paid spend behind that?
Yes, both.
Okay, both. Okay, so before we dive deeper in kind of the funnel, tell us how you make money.
Yeah, we are B2C SaaS. So people pay us on the women's side, 15 bucks per quarter and on the men's side, 21 bucks per quarter.
The men pay more. Interesting.
The reason for that is we actually launched as a men's business.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:00–0:43
2
How did Blake Smith and his team test different business models?
0:43–5:30
3
What is Cladwell and how does it help users with their wardrobe?
5:30–10:43
4
How has Cladwell's customer base evolved since its launch?
10:43–11:15
5
What revenue model does Cladwell use for its customers?
11:15–14:08
6
What challenges did Blake face with customer acquisition costs?
14:08–19:22
7
What lessons did Blake learn about partnerships and co-founders?
19:22–22:10
Speakers
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