Highs, Lows & Stories of 10 Years Brand Building – Dave Powell | Midnight Podcast Episode 41 [Video]

Midnight Podcast | Episode 41 – Highs, Lows & Stories of 10 Years Brand Building – Dave Powell

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In this episode, we chat to Dave from 304 Clothing…

His links here –

https://www.304clothing.com/

https://twitter.com/dmp304

Listen to the podcast on Spotify here – https://open.spotify.com/show/06udMb2kDgv1mL40gxOSlK?si=fkXLx0A8S-O7OdukQUjSCA&dl_branch=1

Listen on Apple podcasts here – https://podcasts.apple.com/us/podcast/midnight-podcast/id1585632377

Timestamps

02:30 – who are you and how did you get started?
03:24 – did you go to Uni intending to follow a career in architecture or did you always know you wanted to do your own thing?
05:08 – did you hate the job or just want to make some extra cash when starting 304?
06:30 – how long were you doing both a job and 304 before going full time
08:40 – early stages of 304, what did it look like? How did it develop from side hustle to reputable brand?
13:00 – where the name 304 came from
14:40 – which point the decision was made to go full time?
19:15 – 5 years in, how did it look as a business by this point?
23:00 – starting a brand for the passion of making things vs starting a business to make money and how the theory fits with why 304 was founded
26:00 – at what point did you start outsourcing production?
30:00 – is clothing the most competitive space in ecom?
32:50 – when did paid media become a focus of scale and how did it look?
36:00 – talking shop on all things influencer marketing and when it was a big opportunity/how it’s dramatically fallen as a big play
39:12 – how social media channels algorithm has changed and follower count is purely a vanity metric and not reflective of the business’ true performance
41:25 – would you ever want to run a business as big as the likes of GymShark? Or would you rather keep it smaller scale as a lifestyle business?
49:10 – David asks me, why I have the desire to build a £1billion brand. What the root of the WHY is. To make money, to make an impact, we break down the debate.
50:27 – the constant chase of wanting more in all aspects of life. We shift the same mindset to fitness
50:00 – personal growth. Fitness, reading books, mindset, setting personal goals.
56:42 – why did you stop ‘obsessing’ over wanting more 2 years ago? What changed for you?
58:50 – why money can’t buy you happiness. Find what makes you happy.
01:00:21 – the danger of comparison with other brands’ success and the downside of having a successful close network
01:05:00 – I answer the most common question I get asked, how to find a good close successful network group?
01:06:30 – how does the day to day of the business look now with the team, office, warehouse etc and the back-story of how the warehouse burned down with £400k worth of stock
01:11:00 – how the warehouse burning down turned from an absolute disaster to a blessing in disguise which transformed the business using a new POD setup
01:15:20 – do you think the POD method limits scale opportunity especially now it’s in-house?
01:16:20 – the benefits of bringing a team in-house & having an office vs keeping it lean and working from a laptop remotely. Also we talk hiring friend’s vs colleague experts
01:18:45 – the downsides of remote working/nomadic lifestyle
01:25:30 – do you ever think about other businesses/brands you’d want to start?
01:26:30 – have you had exit opportunies/offers arise across the past 10 years?
01:28:30 – what’s been the hardest business challenge you’ve had in the past 10 years?
01:30:00 – 3 bits of advice to your younger self knowing what you know now?