What causes exponential growth? (E156)

https://www.youtube.com/embed/GyD6cHnjfdA Dr. James RichardsonFounder of Premium Growth Solutions Sponsors: PrisyncSpark Shipping Links: Ramping Your BrandPremium Growth Solutions Bio: Dr. Richardson is the founder of Premium Growth Solutions,a strategic planning consultancy for early-stage consumer- packaged goods brands. As a professionally trained cultural anthropologist turned business strategist, he has helped more than 75 CPG brands with their strategic planning, including brands owned by Coca-Cola Venturing and Emerging Brands, The Hershey Company, General Mills, Kraft Foods, ConAgra Brands, and Frito-Lay as well as emerging brands such as Once Upon a Farm, Peatos, Ithaca Hummus, Mother Kombucha, Rebel Creamery, zaca recovery, and others. James is the author of Ramping Your Brand: How to Ride the Killer CPG Growth Curve, the #1 Best-seller in Business Consulting on Amazon. He also hosts his own podcast—Startup Confidential, and his thoughts appear regularly in industry publications such as Foodnavigator. Transcript: Charles (00:00): In this episode of the Business of eCommerce. I talk with Dr. James Richardson about what causes exponential growth. This is a business of eCommerce episode, 157. Charles (00:20): Welcome to the business. E-Commerce the show that helps e-commerce retailers start launch and grow the e-commerce business. I'm your host, Charles Palleschi. And I'm here today with Dr. James Richardson. James is the founder of premium growth solutions, a strategic planning consultancy for early stage consumer packaged good brands as a professionally trained cultural anthropologist turned business strategist. He has helped wasn't 75 CPG brands with the strategic plans. Some of those brands include read them off air Hershey's general mills, Kraft food. Frito-Lay a list goes on how he's helped a lot of brands. And he's super interesting take on growing the business and what to really focus your time and attention on. And I think that's the big thing here on. If you really want to double down, he kind of talks about here's the exact segment and here's how you should find that segment and who should be focusing on. So I think that part's super helpful on really kind of nailing who to focus on if you want to be able to really scale your business and see that year over year exponential growth. So let's get into the show and I think he has some great tips. Also, he links to his book at the end that we'll link in the show notes. So let's check that out. So, Hey James, how you doing today? James (01:32): I'm good. How are you doing Charles? Charles (01:34): I'm good. Awesome. To have you on the show to dig into this topic a bit, we're talking earlier about exponential growth and how there's some DCC brands that seem to get it and others wish they got it and others never do. And it seems to be this like magic formula people think, but you've kind of talked about this a bit. So curious to kinda get your thoughts on that. James (01:59): Yeah, so I I do work with a mix Adidas C and retail only brands, but I think what I, what we were just chatting about, I think before we hit record, was that I meet a lot of DTC folks who thanks to the internet itself are well-versed in all the KPIs of D to C business management. And they're, they're drowning in data and lifetime value and average order value and all this stuff. They try to measure the health of their business purely within the context of those data points, which are coming in through Shopify essentially. But they're not necessarily asking at any point, even if they're doing well, which is actually just as important. And in my view asking why, why are people repeating what behavioral is attracting them to like constant purchase on a monthly basis or weekly basis, if you're really lucky and you're able to sell like drinks to people or stuff. James (03:00): But I mean, if you're not asking the question,