Nik Sharma on what it takes to become a $10M DTC brand

Nik Sharma, CEO of Sharma Brands and an active investor in the DTC space, joins the POD to talk all things DTC. Nik has worked with a lot of notable DTC brands including Judy, Hint, Dream Pops, and more. To reach a $10M level, Nik says that brands need to have an economic moat. That’s essentially a distinct advantage that competitors will have a difficult time copying. Stay tuned as Nik discusses other ways brands can be successful, what he looks at before investing in a brand, and what brands he looks to for inspiration. We Speak About: [01:00] About Nik [02:35] What Nik looks for before investing in a DTC brand [04:00] Nik’s advice for staying ahead of competitors [05:35] What Nik thinks about first-mover advantages [07:00] Nik’s thoughts on performance marketing and growth strategies [10:15] Nik’s take on balancing moving fast, being good, and beating competitors [12:25] Why you need to be profitable or breakeven on the first purchase [13:25] How brands can be successful [14:45] The importance of having a developer on your team [15:05] What some of the smarter DTC brands are doing with pixels [17:30] Why Nik loves user-generated content [19:05] The importance of having a huge stack of creative ready to go [20:25] The brands Nik looks at for inspiration [21:35] What’s next for Sharma brands