Friday, September 11, 2020

Lisa Thorén on BabyBjörn's Bootstrap Journey - Sep 3, 2020

Live at Heart 2020 was a virtual affair (thanks COVID). But it didn't stop us from having a conversation between Örebro, Stockholm and Austin on bootstrap entrepreneurship (thanks ZOOM). The audio is on the BootRap ATX Podcast with video in the pictures below. 

Lisa Thorén, daughter of Björn Jacobsen, who started BabyBjörn in 1961 with his sister-in-law, Elsa. Lisa's arrival was an inspiration for a product! Lisa's mom, Lillemor joined the company in the 80s and Lisa joined the company in 1994. It's been a real family affair which continues to the present day. Lisa's involvement as a team member (7:38) came at a critical time, both in the company's history and during a shift in how countries outside Sweden were changing with shared parenting duties. While BabyBjörn 1.0 (pre-Lisa) was about its products, 2.0 ushered a sharing of Swedish parenting practices.  

Lisa shares how the company proceeded through the stages of the Bootstrap Map (14:25), with a description of the stages by Bijoy. The early inspiration came from Björn babysitting (21:50) his nephews and nieces and a baby bouncer purchased in the US. The first customer came about in a very special way. 

BabyBjörn Bootstrap Map

Parallels with LEGO (29:55) and Apple (35:30) emerged. Lisa explains her metaphor of climbing a mountain and identifying what/who are needed to make the ascent. What are the roles, especially for founders, as the company evolves? And the importance of complementary skills and maintaining a continuous connection with customers. 

Swedish bootstrap entrepreneurs, please join the Bootstrap Sweden Community on facebook!  

Tuesday, September 01, 2020

Dan Ariely on our Predictable Irrationality - Sep 2, 2008

The Bootstrap Marketing Subgroup chatted with Prof Dan Ariely, author of numerous books explaining the vagaries of human behavior and choice. Subgroup lead and BootRap Producer, Brian Massey interviewed Dan about his research and book, Predictably Irrational, and how these insights could be used in marketing and pricing. Brian provides a summary of the book in the first section and the interview begins at: 8:44. 

Topics covered include: Decoy Model, the power of comparison; social vs market exchange; price anchoring and Starbucks; TiVo v DVRs; fe/male differences in purchasing; the challenges of focus groups and bad data; anti-depressants vs placebos; the importance of moving marketing earlier in the product-creation process; design for physical AND cognitive differences; how the 2008 mortgage crisis was created by short-circuited human decision-making; how credit cards separate consumption from experience; Gucci, Prada & fakes; why consuming gas is stressful; the pain of pain; how lawyers should charge for their services; and much more. Dan also provides advice on how to appreciate the pain associated with the entrepreneurial journey. The conversation ends with a fascinating puzzle, the answer to which reveals our own proclivity to being "predictably irrational!"

BootRap ATX episode produced by Brian Massey of the Intended Consequences Podcast.