life update:
bro everything is awesome in a way I wish everyone could experience.
Ridge will GROW more this year than we did in TOTAL revenue in 2024.
Podcast network helping thousands. Making millions.
Shows are now more popular than ever.
Beautiful wife. Perfect son.
Its a level of blessed that I wish on everyone.
WE ARE ALL SO FUCKING BACK.
A convo with @RomanEcom changed my life.
We both have dedicated a decade to building ecommerce brands.
And we both succeeded.
We own top 1% brands by any metric- revenue, profit, growth.
But those brands are basically worthless.
Let me explain:
Ridge is an amazing business.
Multi 9 figures in revenue.
I’ll even grow 9 figures this year.
But if I take my foot off the gas, revenue will fall 70%.
We are an acquisition machine.
We lack network effects.
A wallet sold today does not guarantee a wallet sold tomorrow, this year, or next year.
If anything, at scale, the more wallets you sell the harder the next wallet is to sell.
I’ve out executed everyone.
Built a 1% brand
And we will trade on a multiple of earnings, like a car wash or a storage unit lol
A generational brand, one that could last 50 years, and the multiple will be the same as your local HVAC roll up.
These businesses need to be built for cashflow.
That’s how they are sold, that’s how you will be rewarded for running them.
If you want revenue, there are publically traded brands, great brands, like gap, trading for a fraction of annual revenue.
If you want to sell something-
It needs compounding network effects.
Where a customer added helps get the next customer.
Where a signed deal will bring more signed deals.
Where the more you add, the better the margin gets.
Build in Ecom for fun, for cash, to learn.
But for the big swing, you need a network effect.
@thefinnmckenty@RomanEcom I love Ecom, don’t get me wrong.
But building an Ecom business to sell it, while avoiding the realities like you need to be profitable, just doesn’t work anymore
Lots of people counting on an exit that just ain’t coming
I know this week can be annoying.
Just non stop posts about event after event after sponsor after event
But no joke-
Quality of events has blown me away.
Beanstalk upped the bar.
It’s free for brands, you should go. Zero pitching. Hundreds of brands in small rooms sharing tips.
Northbeam conference was nuts.
So premium, just classy and refined.
I walked from Brooklyn back to Hudson yards.
Weather was beautiful.
Everyone was happy and smiling.
It’s easy to fight. It’s easy to feel like shit if things aren’t working.
Good to go hug a friend and shake some hands.
Crush it this q4.
You deserve to win.
Talked to an old friend last week.
Said things are great, crushing it, has a new brand.
“Bro we will do 40m this year”
Brand is maybe 3 months old.
I was shocked.
I said back-
“You will do 40 million dollars in less than 6 months of operating???”
He said-
“Well no. Maybe 10m”
lol
Just something to think about.