101: Xero Shoes is Running by their Competition… Find out How w/ Shark Tank Contestant: Steven Sashen.

Steven Sahsen - Xero Shoes Interview

BECOME A MEMBER TO LISTEN NOW!

Background on Steven Sashen of Xero Shoes:

Steven Sashen is the developer and CEO of Xero Shoes. Steven and his wife, Lena Phoenix, started the “Barefoot… PLUS!” sandal business in late 2009. He had returned to sprinting 2 years earlier, at age 45, and experienced almost continuous injuries. An experiment with running barefoot cured the injuries and improved his times. Knowing about the Tarahumara Indians in Mexico, who run hundreds of miles in sandals made of tire scraps lashed to their feet, Steven created a high-tech upgrade of that product and launched it online. With nothing but Search Engine Marketing and Social Media Marketing, Xero Shoes has become the best-selling running sandal in the world.

Steven's commitment is to making footwear that lets customers connect with the ground and “Feel The World,” fits perfectly, express wearer's personalities, outlasts any other footwear, and uses fewer resources than any other footwear. He's also committed to discovering and teaching the best techniques for teaching natural movement for walking, hiking, and running.

Prior to jumping into the sandal business, Steven was an internationally-known Internet marketing expert, Search Engine and Social Media marketing consultant, and software designer. He also co-hosted the Emmy award winning, internationally syndicated TV show, Disk Doctors. Steven is also a Masters All-American sprinter, one of the fastest 50+ year olds in the United States.

Time-Stamped Show Notes:

  • [0:55] Steven Sashen is the CEO of Xero Shoes. The company has been producing exceptionally comfortable shoes since 2009.
  • [3:39] Steven produces shoes and sandals that adheres to how the feet bends and moves. He explains the science behind how their shoes and sandals work, making it different compared to other footwear products.
  • [6:45] Today, Steven’s company has 30 employees and they are projected to make 8.5 million in sales this year.
  • [10:30] He went to Duke University but he wasn’t really happy in an academic environment. After Duke, he became a standup comedian for 10 years.
  • [12:25] Steven started a company that produced ScriptWare, which is a word processing software used by film and television writers.
  • [13:02] Get 2 months of unlimited access to SkillShare for just 99 cents. Visit SkillShare.com/millionaire
  • [16:55] As the business grows and improves, Steven is very much aware about certain things that competitors might do to get ahead of you.
  • [19:42] Steven talks about how he got the idea of moving from New York to Colorado.
  • [24:20] Steven met someone who really wanted to work with him. Hiring this guy turned out to be a great decision for Steven.
  • [27:50] Steven was supposed to sell his software company but he found out that one of the business partners was trying to embezzle him.
  • [34:07] Invest in real estate with FundRise. Go to fundrise.com/millionaire to have your first 3 months of fees waived.
  • [35:46] Steven actually started Xero Shoes by accident. He never knew that Xero Shoes would grow to be his full-time company.
  • [36:27] In 2000 to 2009, Steven and his wife were retired and they were living comfortably. He emphasized how great it was to just live comfortably and he was not aiming for an extravagant lifestyle.
  • [40:38] When they were starting Xero Shoes, it was a huge challenge for Steven and his wife to manufacture the shoes and sandals.
  • [45:25] According to Steven, it is still a constant challenge to find the right people and get the money to keep Xero Shoes growing.
  • [47:37] Steven says that their Xero Shoes product changed the lives of so many people. They received so much positive feedback regarding how comfortable their shoes are.
  • [52:26] Steven talks about being in the Shark Tank show and how it was great for their business. He recommends watching Shark Tank.
  • [57:04] Steven advises new entrepreneurs to just get started and do it. It is also important to pay attention to the risks instead of the reward.

Fabulous 4 Questions:

  1. 📖 📚 Favorite Book(s)? Fooled by Randomness by Nassim Nicholas Taleb & Stumbling on Happiness by Daniel Gilbert
  2. 🙌😎 Favorite Amazon.com purchase? All the little parts I've gotten to make my Subaru BRZ faster.
  3. 🌱💸 Favorite Tool that's GROWN your Business? LOTS that have helped, but I'd never call any a “favorite” (all ecommerce software sucks differently).
  4. 💭💡 BIGGEST Challenge keeping your Business from GROWING? CAPITAL… at our growth rate, we need more cash.

Key Point from the Interview:

  • “If you’re going to start a business, make sure it changes people’s lives. Otherwise, it’s just too damn hard”

Resources Mentioned:

SUBSCRIBE TO THE PODCAST
Want More? Join Our Membership on Patreon!
Become a patron at Patreon!
Tweet
Pin
Share
Share