Strategies for Finding Product Market Fit
Shopify Masters episode in which the host talks with Bill Bachand, founder of Renu Therapy, a company that makes cold plunge tanks. Bill says that after a back injury and surgery around 2016 he turned to cold water, could not find a good product, and decided to make his own, in a design he would be happy to see in his yard. He says a week of cold dips on a ski trip in early 2019 convinced him there was a business, and that his wife supported the change after he closed a business he had run for about 27 years. He says earlier ventures included an emergency kit company and energy efficient remodeling. His advice is to do the work: research the market, understand your financials and read a balance sheet and profit and loss. Shopify, which produces the show, is the sponsor named in the description. PARTIAL COVERAGE: the captions cover roughly the first 14 minutes of the 35 minute episode, so later topics such as product development and endorsements are not summarized. All claims are Bill's own and are not independently checked. Nothing here is medical, health, wellness, financial or legal advice, and Bill's descriptions of cold water effects are his personal experience only.
Executive Summary (TL;DR)
Shopify Masters episode in which the host talks with Bill Bachand, founder of Renu Therapy, a company that makes cold plunge tanks. Bill says that after a back injury and surgery around 2016 he turned to cold water, could not find a good product, and decided to make his own, in a design he would be happy to see in his yard. He says a week of cold dips on a ski trip in early 2019 convinced him there was a business, and that his wife supported the change after he closed a business he had run for about 27 years. He says earlier ventures included an emergency kit company and energy efficient remodeling. His advice is to do the work: research the market, understand your financials and read a balance sheet and profit and loss. Shopify, which produces the show, is the sponsor named in the description. PARTIAL COVERAGE: the captions cover roughly the first 14 minutes of the 35 minute episode, so later topics such as product development and endorsements are not summarized. All claims are Bill's own and are not independently checked. Nothing here is medical, health, wellness, financial or legal advice, and Bill's descriptions of cold water effects are his personal experience only.