Feeding the Flywheel, And How to Get it Started in the First Place, with Steven Borrelli, CEO & Founder of CUTS

Stop me if you’ve heard this before: in business, you always need to keep the flywheel spinning. Okay, wait, don’t actually stop the podcast! I know it sounds cliche, but it’s true — to have a successful business, you need to be constantly churning out products, bringing in customers, making sales, lather, rinse, repeat. That’s the part we all know. What so many founders and business owners can’t quite figure out is how to actually get that wheel spinning at all, let alone continuously. 

On this episode of Up Next in Commerce, I talked with Steven Borrelli, the CEO & Founder of CUTS, a lifestyle ecommerce fashion brand that celebrities, entrepreneurs, athletes, and everyday folks love. Steven has some firsthand experience in the struggles of getting his company off the ground and into the hands of consumers — and his story includes an early $20,000 loss and a nine-hour journey through China. But he also has some of the answers that brands are looking for when it comes to building an efficient and sustainable growing business. What is his secret sauce? And how do testing, YouTube, and NFTs play a role? We got into all of that and more on this episode. Enjoy! 

Main Takeaways:

Getting the Flywheel Spinning: Every company wants to have a flywheel spinning that brings in customers consistently and keeps the business running. But actually achieving that end is difficult. It takes getting the right people in the right roles, creating organizational efficiency, and spending money wisely. And, at the end of the day, knowing your numbers and trusting that math matters is always the most important thing.Top-Down, With a Twist: Leadership has to stem from the top, and those in charge have to set a course and be clear on their vision for the company. But if you want your employees to succeed, they have to be able to set some of their own goals and determine for themselves how they think they can best help the company meet the mission set by the leader.Fertile Soil: Having a good method to test ideas and gather feedback will yield a much more efficient product and marketing strategy. Don’t be afraid to test out new ideas in unique ways that invite customers and potential customers to engage with you in new ways. With enough good data, you can make bigger yet safer bets and grow your company much faster.

For an in-depth look at this episode, check out the full transcript below. Quotes have been edited for clarity and length.

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For a full transcript of this interview, click here.