Built Online Podcast Episode Summary
Title: From Kickstarter to a $4M Company in Just 2 Years with Brynn Snyder
Host: Cody McGuffie
Guest: Brynn Snyder
Release Date: February 17, 2025
Sponsor: EverBee
Introduction
In Episode 89 of Built Online, host Cody McGuffie welcomes Brynn Snyder, the CEO and co-founder of Slate, an innovative oral health company. Brynn shares her remarkable journey from launching a Kickstarter campaign to building a thriving $4 million company within just two years. The conversation delves deep into product development, marketing strategies, overcoming challenges, and balancing entrepreneurship with personal life.
Guest Introduction and Background [00:00 - 03:24]
Brynn Snyder, an experienced designer with a background in sketching, product design, industrial design, and concept development from BYU, introduces her flagship product— the Slate Three-in-One Electric Flosser. Brynn explains that her passion for innovation and improving oral health led her to collaborate with her husband, a dentist, to create a product that makes flossing easier and more effective.
Notable Quote:
"We just knew people hated flossing. And I was, Dr. Snyder was like, if I could just have people floss, they wouldn't be anxious."
— Brynn Snyder [03:24]
Product Development and Kickstarter Campaign [03:24 - 16:09]
Brynn discusses the inception of Slate, highlighting the technical challenges and extensive development timeline. The product, which includes patented gum sweeps that effectively stimulate gums, required meticulous engineering and multiple iterations. Despite initial resistance due to financial constraints and personal commitments, Brynn and her husband pursued the project with unwavering dedication.
The Kickstarter campaign in 2021 raised $200,000, validating the product's demand and serving as proof of concept. However, Brynn emphasizes the importance of understanding financial aspects like shipping costs and the complexities of international sales, which posed significant challenges during the campaign.
Notable Quotes:
"Products always take way longer to launch than people think, especially if it's a brand new innovation."
— Brynn Snyder [07:17]
"I think if you are really invested and passionate about it... it is a hard road, so you just have to be willing to not give up."
— Brynn Snyder [08:43]
Business Growth and Revenue [16:09 - 23:28]
Brynn reveals that Slate achieved $4 million in revenue in 2024, although after accounting for sales tax, the actual figure was slightly lower. The business officially launched in November 2022, following a substantial Kickstarter success and subsequent funding rounds totaling $1.15 million from friends, family, and additional investors.
She candidly discusses the hurdles of raising capital as a female entrepreneur, noting that only about 2% of venture capital is allocated to women. Despite these challenges, Brynn's relentless pursuit and strategic fundraising were pivotal in scaling Slate.
Notable Quote:
"Most people that are good entrepreneurs are just the ones who don't give up."
— Brynn Snyder [09:53]
Marketing Strategies and Advertising [23:28 - 32:25]
Slate's robust marketing strategy includes a significant investment in advertising, spending between $30,000 to $70,000 monthly on channels like Instagram (Meta), Facebook, Google Ads, and Amazon Ads. Brynn highlights the transition from Meta advertisements to incorporating Amazon as a sales channel, which now contributes equally to their revenue streams.
She underscores the importance of building an email list to maintain direct communication with customers, safeguarding the business from potential setbacks like ad platform shutdowns. Brynn also discusses the critical role of brand consistency across different sales channels and the necessity of continuous ad testing to optimize performance.
Notable Quote:
"Email lists are like your people who care about your product and you can control it a lot better."
— Brynn Snyder [19:54]
Challenges and Lessons Learned [32:25 - 41:02]
Brynn shares insightful lessons from her entrepreneurial journey. She emphasizes the significance of cash flow management, leading to the hiring of a fractional CFO to oversee finances meticulously. Additionally, she discusses the complexities of scaling production, managing inventory, and maintaining profitability while investing in growth.
A pivotal moment was realizing the high failure rate of hires, prompting Brynn to prioritize core values and an ownership mindset during recruitment. She also reflects on the difficulties of balancing business growth with personal life, especially as a mother of five, highlighting the importance of outsourcing tasks and setting clear business goals.
Notable Quotes:
"If you are not good at numbers, that should be your first hire."
— Brynn Snyder [25:03]
"Most people good entrepreneurs are just the ones who don't give up."
— Brynn Snyder [09:53]
Future Goals and Strategies [41:02 - 47:22]
Looking ahead to 2025, Brynn aims to scale Slate to $12 million in revenue by focusing on key growth areas:
- National Coverage: Expanding brand awareness through television and enhanced marketing efforts.
- Ad Optimization: Testing diverse ad creatives to better connect with target personas.
- Retail Expansion: Strategizing entry into retail channels like Costco and Walmart when financially viable.
She plans to streamline branding by reducing the number of fonts and ensuring consistency across all platforms. Brynn also discusses the potential of leveraging dental offices as a sales channel, utilizing endorsements from dental professionals to build credibility and drive sales.
Notable Quote:
"I read a book, 10x is easier than 2x, and I was like, why are we just striving for eight? Why don't we try to do 12?"
— Brynn Snyder [22:24]
Rapid Fire Segment [43:37 - 53:07]
Favorite Business Book:
"Who Not How" by Benjamin Hardy and Dan Sullivan.
— Brynn Snyder [43:47]
One Thing She Wishes She Knew Before Starting:
Understanding that half of hires might not work out and the importance of aligning personalities with skill sets.
— Brynn Snyder [44:07]
Work Hours:
Attempts to manage her time by building a strong team to reduce her own workload, currently working around 100 hours a week.
— Brynn Snyder [48:29]
Balancing Motherhood and Business:
Prioritizes her children's success alongside her business and uses support systems like a house cleaner and a nanny to manage her time effectively.
— Brynn Snyder [48:57]
Character Traits (as Perceived by Others):
Hardworking, passionate about oral health, good mom, sometimes too honest and needing better filters.
— Brynn Snyder [50:23]
Definition of a Creator:
Creators can be divided into those who make things beautiful and those who think outside the box.
— Brynn Snyder [51:20]
Should Everyone Be a Business Owner?
No, as it requires specific grit and financial acumen that not everyone possesses. Successful business owners often need to hire the right team to complement their skills.
— Brynn Snyder [51:53]
Worst Advice Received:
Initially hesitant to take a loan, but later realized the importance of cash flow and welcomed the loan, which was crucial for scaling.
— Brynn Snyder [47:40]
Conclusion [53:25 - 54:45]
Brynn wraps up the conversation by encouraging listeners to support Slate by purchasing their innovative flosser and leaving reviews to help educate potential customers. She shares her social media handles for further engagement and expresses her appreciation for the insightful discussion with Cody.
Notable Quote:
"If you buy a Slate flosser, please, please, please leave a review. Reviews are so beneficial to Slate because people need to see reviews from people."
— Brynn Snyder [53:25]
Key Takeaways
-
Persistence Pays Off: Brynn's journey underscores the importance of resilience and unwavering passion in overcoming entrepreneurial challenges.
-
Strategic Marketing: Investing significantly in diversified advertising channels and maintaining brand consistency are crucial for scalable growth.
-
Financial Acumen: Effective cash flow management and understanding financial metrics are fundamental to sustaining and expanding a business.
-
Balancing Personal and Professional Life: Successfully managing a growing business while nurturing a large family requires strategic delegation and personal prioritization.
-
Community and Support: Leveraging personal networks, such as friends and family for initial funding, can provide essential support during the critical early stages of a business.
Support Brynn Snyder and Slate
- Website: slateflosser.com
- Instagram: @slateflosser
- Personal Instagram: @brynmsnyder
- LinkedIn: Brynn Mac Snyder
Use the promo code EVERBE10 for a 10% discount on your first purchase.
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