Welcome back folks! It is another great week with the Startup Junkie crew. This week, Caleb Talley, Jeff Amerine, and Matthew Ward zoom with Allan Peretz, founder and President of Bold Strategies, Inc. Bold Strategies brings together proven CPG experts and emerging digital talent to create custom e-commerce departments for their clients. In this episode, some of the interesting topics you will get to hear about are Allan’s journey leading up to Bold Strategies, the effect of COVID-19 on e-commerce and retail strategy, and the vision of Bold Strategies. Do not miss out on these nuggets of information!
Shownotes
(00:36) How Bold Strategies started with Allan Peretz
(4:17) Allan’s interest in retail
(7:34) How COVID-19 has impacted Bold Strategies
(9:59) How to establish a good company culture
(12:11) Allan speaks to the struggle of standing out against the competition
(17:33) Advice for people looking to start their own company
(22:30) Closing Thoughts
Links
Quotes
“First of all, great people attract other great people. So, you have to be willing to make a bet and invest a little more.” (10:03)
“We want to be the company that emerging and growing companies want to go to when they started to make it but they want to hit that next phase.” (11:35)
“Really understanding what is that single insight about the consumer that this product is based on and making sure that everything you do reinforces the benefit that’s going to drive your success.” (20:03)
203: Winning the E-commerce War with Bold Strategies
Startup Junkies got the opportunity to speak with Allan Peretz, founder and President of Bold Strategies.
Bold Strategies brings together experienced CPG experts and emerging digital talent to help brands navigate the fragmented world of e-commerce. While doing business with Walmart, Amazon, and other companies often require a specialist to handle affairs with each enterprise, Bold Strategies offers mid-sized companies the opportunity to have all of their e-commerce needs managed under one roof.
Allan spent 14 years working in brand management for Procter & Gamble. After leading directly to consumer e-commerce globally for brands such as SK-II and Gillette, he found that e-commerce was significantly more difficult than it should be. While e-commerce has opened the door for small and mid-sized brands to sell products through companies such as Walmart and Amazon, many of these opportunities were hindered by the inability to put together a product company team equipped to handle such a task. Allan wanted to assist these small and mid-sized brands in getting their product into the most extensive retail spaces on the internet. With this idea, Allan left his previous careers to start Bold Strategies.
The company’s culture should be given a portion of the credit for Bold Strategies’ success. Allan says, “Great people attract other great people.” With this in mind, the company decided to invest a little more to bring in people that would attract supplementary talent. Bold Strategies also reaps the benefit of interacting with smaller companies that do not deal with the same bureaucracy that larger companies are bound by. When one is looking at a career in CPGs and e-commerce, the ability to work directly with the CEO of a company can be quite the draw.
While Bold Strategies’ culture is alluring both for prospective hires and future clients, one of its most substantial hurdles is standing out amongst a crowd of competitors. One of the company’s differentiators is the large number of retail channels that it handles. When brands are drawn in by this, Bold Strategies is able to show that it understands consumer packaged goods with more depth than its competitors.
In an effort to project its identity clearly, Bold Strategies changed its moniker from Bold Retail. It felt that its previous name showcased only a portion of the skills that it possessed. With its new brand, it is able to promote the whole of its abilities, including creating brand websites and performing market strategy work.
If one wants to start their own company, Allan suggests gaining a strong understanding of the market to fine-tune the idea. If it is in a high service business, it will not hurt to have a couple of deals in place before making the jump. Ultimately, Allan recommends talking to a lot of people to shape the idea as clearly as possible. The same goes for launching a new product. Allan encourages understanding precisely what it is about the consumer that the product stems from. He says to ensure “that everything you do reinforces the benefit of what’s going to drive your success.”
While no one remains untouched by the negative effects of COVID-19, Bold Strategies is benefiting from a significant spike in e-commerce. Are you in need of help navigating the world of e-commerce?
Are you in need of help navigating the world of e-commerce?
Click here to connect with Bold Strategies.
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