Spencer Jan
16 statements across 1 episodes · 5 bullish · 1 bearish · 1 people on the record · first statement Aug 14, 2023 by Spencer Jan · across every show →
On the record as a speaker too: Spencer Jan's record, appearances and statements → this page counts the times other people say the name.
Everything said about Spencer Jan, oldest first
Aug 14, 2023
Aug 14, 2023 positive
Acknowledge luck in business while working as if it does not matter
“You have to realize that it's a part while at the same time working as if it doesn't matter. I think it helps you not pat yourself on the back too hard when things go right, while at the same time not getting too hard on yourself when things don't go right.”
Aug 14, 2023
Founders liquidated Fox Outfitters for pennies to focus entirely on Solo Stove
“Pennies on the dollar is what we did. We really just said, here's the inventory. We'll give it to you for pennies on the dollar. We got introduced to some good guys in Houston who wanted to have a stab at e-commerce. And we said, Hey, you know, this is an oppo…”
Aug 14, 2023 positive
Solo Stove founders hired their CEO weeks after a LinkedIn message
“We reached out to John over LinkedIn really, and honestly, just to ask about how to build a sales team, and chatting with him, it just felt like, When he left, I kind of looked at Jeff and said, this is a guy that I think could run this thing. Very sales orien…”
Aug 14, 2023 positive
Custom machinery gave Solo Stove high barriers to entry against copycats
“It was hard to gauge, and then the second part of it, it's a very difficult product to
Create.
Because we had invested a lot into custom machinery with our manufacturers and so the barrier to entry was much higher than any other Me Too product that somebody co…”
Aug 14, 2023
Solo Stove generated up to $10M in revenue as a two-person operation
“Revenue at that time I think was, I mean, between Fox and Solo, I was probably close to about, I want to say like seven-ish million bucks, Jeff.
Is that, do you think that's about right?
Yeah, probably.
Yeah, seven to 10 or somewhere around there.”
Aug 14, 2023
Aug 14, 2023 positive
The founders' side brand Fox Outfitters initially outsold Solo Stove
“And we sold more of that than Solo did all the way. I mean, I don't want to say, I mean, I don't remember when we stopped selling Fox, but probably about We were selling more on Fox than we were for Solo. Millions and millions of dollars of Fox stuff.”
Aug 14, 2023
Aug 14, 2023
Aug 14, 2023
Aug 14, 2023 positive
Solo Stove reached a mid-nine-figure valuation in its secondary PE transaction
“I mean, it was mind-blowing to me that, you know, from being in the low nine figures, just over a hundred million dollars, to now being well into the mid-nine figures on this next Private equity exit. You know, we would sell less shares than we did the first t…”
Aug 14, 2023 neutral
Aug 14, 2023
Aug 14, 2023 neutral