Kim’s inspiration to launch a business came from an unlikely source: Her son’s Crocs. She thought the durable, washable material would make a great beach bag. So she designed one. But after investing her savings—inlcuding some of her kids’ college fund—Kim was crushed when her first major shipment of Bogg bags was defective. It knocked her so off balance, that she put the entire business on hold.

Then something unexpected happened.The few thousand customers who already had a bag….clamored for more. So Kim decided to start over. She borrowed $120,000, found another factory, shared trade show booths with four other founders, and slowly built Bogg Bag into a $100 million phenomenon.

What you'll learn:

• How getting nowhere with Crocs gave Kim the motivation to make Bogg Bag herself.
• Why her first $30,000 production run nearly killed the company.
• Why a founder isn’t always the best judge of her product
• How Superstorm Sandy gave new life to Bogg Bag
• How Kim built Bogg Bag for years while keeping her full-time job and raising two kids.
• How COVID turned Bogg Bag from a beach product into a “beach and beyond” product.
• How Kim got a massive acquisition offer–and why she turned it down.
• Why Kim thinks Bogg Bag can eventually become a billion-dollar brand.

Chapters:

04:11 - Growing up without financial security

05:52 - From high-school dropout to a six-figure career

14:54 - Reading “Mommy Millionaire” and dreaming of inventing something

17:16 - The Crocs-on-the-beach moment

22:31 - Kim hits a wall with Crocs, so she decides to make Bogg Bag herself

28:53 - The early prototypes and a nervous visit to a boutique: “I don’t know what this is, but I think I need it.”

36:36 - The first big shipment, a $30,000 defect, and a decision to pull the plug

42:33 - A massive natural disaster presents an opportunity

47:35 - “Now I gotta make this damn bag”

50:05 - A factory showdown in China

53:42 - Starting over with $120,000

55:41 - The trade-show “timeshare” in a tiny booth

01:01:02 - Finally quitting her day job

01:04:32 - COVID boosts the business

01:07:18 - The acquisition offer that could have changed everything

01:17:30 - Learning to lead a much bigger company

01:20:03 - The dream of a family legacy

This episode was produced by J.C. Howard, with music by Ramtin Arablouei.

Edited by Neva Grant, with research help from Sam Paulson.

Follow How I Built This:

Instagram → @howibuiltthis

X → @HowIBuiltThis

Facebook → How I Built This

Follow Guy Raz:

Instagram → @guy.raz

Youtube → guy_raz

X → @guyraz

Substack → guyraz.substack.com

Website → guyraz.com

Today’s callers: Darin from North Carolina seeks guidance on consumer education as his ghee-based snack brand grows into major retailers. Then Sarah from Massachusetts explores scaling pathways for her ‘never-frozen’ gluten-free baked goods. And John from Ohio considers whether online sales can turn around his local food co-op.

Plus, Ben comments on the drivers of Olipop’s nearly $2 billion valuation, and critiques a common piece of business advice that often holds founders back.

Thank you to the founders of Gheelish, Sarah’s Gluten Free Goods, and Bexley’s Natural Foods for being a part of our show.

If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.

And be sure to listen to Olipop’s founding story as told by Ben in 2024.

This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Cena Loffredo and Robert Rodriguez.

You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.

Nicole Bernard Dawes spent much of her childhood hanging out in her dad’s potato chip factory on Cape Cod.

She liked his kettle-cooked chips a lot more than the flavorless snacks in her mom’s health food store. But when she started her own business, she wanted the best of both worlds: a snack made with natural, organic ingredients…that still tasted good.

Nicole launched Late July Snacks in 2003, when most consumers barely knew what “organic” meant. For years, sales limped along. Then, in a moment of crisis, she made a company-saving pivot by launching a brand new product – organic tortilla chips. Within just a few years, Late July grew to over $100M in sales, and Nicole decided to launch a new brand in an even more challenging category: soda.

You Will Learn:

• How growing up in a family business can help–and hurt–when you launch your own
• The pros and cons of financial vs. strategic investors
• When to cut a product that isn’t working
• Why the fine print in a contract is so important
• How the hardest decision might be the best one for your family and the business

Timestamps:

07:22 - The car crash that launched a potato chip company

21:00 - Pregnant and craving crackers: The birth of Late July Snacks

36:54 - The organic cookies that tasted great but nearly sunk the business

40:49 - Tragedy and crisis: a father’s death and a $3 million loan in default

50:31 - A tortilla chip Hail Mary

57:29 - Nicole’s first big sales call… and her last chance to save the company

1:08:49 - “The big fish eats the small fish.” A food giant acquisition

1:13:36 - Nicole launches a new brand, moving from a hard category–to an even harder one

This episode was researched and produced by Chris Maccini with music composed by Ramtin Arablouei. It was edited by Neva Grant. Our engineer was Robert Rodriguez.

Follow How I Built This:

Instagram → @howibuiltthis

X → @HowIBuiltThis

Facebook → How I Built This

Follow Guy Raz:

Instagram → @guy.raz

Youtube → guy_raz

X → @guyraz

Substack → guyraz.substack.com

Website → guyraz.com

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.