Today we are going to share with you a story of success of one small American start-up. So sit down or stand up at your cute standing desk and enjoy the story! Michael Dubin, an entrepreneur, from Pennsylvania together with his friend, Mark Levine, founded a small company in 2012. They named it Dollar Shave Club, and the business idea of the company was to deliver shaving blades to the houses of subscribers just for $1 a month. The idea was simple, and in order to boost sales and get recognition the market, the owners of Dollar Shave Club shot an awesome video on YouTube, got millions of views and likes, moved to California and 4 years later sold their start-up to a British-Dutch consumer goods corporation Unilever for $1 Billion.
How Did The Company Get Successful?
You may ask us how come this American start-up with razors has skyrocketed in price within 4 years? There are many factors such as luck, connections, personal will and power of the owners. Of course, the business idea and marketing strategies made a winning combination. The decision to sell a company at the right time at the right place made the owners of Dollar Shave Club not just rich one day but also famous. As everyone understands, there are also many inner secrets that are only within the company. And one of them is a book that Michael Dubin gives to every new employee.
Dollar Shave Club Secret: A “How to Sit” Book
Michael Dubin, one of Dollar Shave Club owners, gives 2 inspiring books to his new employees when they enter a company. One of them sounds very easy, and the name of it is “How To Sit”. The book is written by Thich Nhat Hahn, a a Vietnamese Buddhist monk, who writes inspirational books with powerful teaching ideas. The book is very easy to read and tells you how to sit and do nothing. That sounds simple but not many people know how to do nothing, meditate and breathe while sitting at the same time. If you do it in a right way, you will get energy, get inspired and motivated. Mr. Dubin wanted to show their employees how to sit, get relaxed and get energy and then use all of the positive experiences for Dollar Shave Club business. The triumph of Dollar Shave Club is not just success of its owners but also hard work of the whole team.
Sitting. A thing that is too simple to be taught. You would laugh at a man who is trying to teach you what a toddler could do. Hereby, it is the secret of the million-dollar company.
Dollar Shave Club Nowadays
The company was sold to Unilever in 2016, and it has still been on the razor market. Of course, competing with giant players like Gillette or Schick is very hard but Dollar Shave Club Unilever has not just been steadily in top 5 sellers of razors in the USA but it is also exploring new markets like Australia or the UK. Interestingly enough, Dollar Shave Club has become a competitor to big players, so they are not just paying close attention to a start-up but also take some business and marketing strategies from the young company. For example, Gillette has launched a campaign with the name Gillette Shave Club with a service of sending new razors to subscribers.
The business world is constantly changing and we cannot predict the future. However, we can definitely say that Dollar Shave Club has significantly changed the razor market of the many countries.
- Adam Lashinsky (2015) How Dollar Shave Club got started http://fortune.com/2015/03/10/dollar-shave-club-founding/
- Goodreads: How to Sit (a review) https://www.goodreads.com/book/show/18342486-how-to-sit
- Jaclyn Trop (2017) How Dollar Shave Club’s Founder Built a $1 Billion Company That Changed The Industry https://www.entrepreneur.com/article/290539
- LPGenerator.ru (2016) История одного стартапа: The Dollar Shave Club https://lpgenerator.ru/blog/2016/09/07/istoriya-odnogo-startapa-dollar-shave-club/