When you plant a rose bush, you have to prune it for it to grow. This lesson, that our host Ryan Foland learned from his grandmother as a kid, still infiltrates his idea of scaling up today. For example, when scaling up your company, you have to clip off what isn’t growing to achieve true growth. This is a concept that flower and gift company, Bloom & Wild, understands well.
For this week’s episode of the ScaleUp Valley podcast, we sat down with Aron Gelbard, CEO of this wildly successful direct to consumer company, to discuss their growth from a seedling of an idea to a full-blown flower — with 10s of millions of pounds in revenue.
All flower puns aside, this episode of the ScaleUp Valley podcast has a lot of helpful tips on how to take an idea and turn it into a multi-million dollar company. Moderated by our own Miguel Diaz, CEO of ScaleUp Valley, and hosted by Ryan Foland, this episode is not one to miss.
Following the footsteps of success
Coming from a family of entrepreneurs, Gelbard had his grandfather — who started his own chocolate company — to look to as a role model when developing Bloom & Wild. And his efforts have not disappointed.
Having grown to 80 employees with 5 rounds of raised capital, Bloom & Wild has managed to enter the 0.04% of companies that have reached 10 million US dollars in revenue.
What is it that’s brought them this far?
Developing a product with both heart and ingenuity has been a big step in the right direction. Unlike many floral companies, Bloom & Wild has developed a product that can be sent directly through mail flaps in the recipient’s door, to keep both the air of surprise in delivery and allowing the recipient to arrange their own bouquet.
But it’s not just an idea or market fit — we cannot minimize the importance of the company’s own personal process to making these goals become reality. So what measures do they put in place to ensure their own success?
How Bloom & Wild keeps its goals crystal clear
With an OKR style process, their team is able to organize based around their high seasons by using a 6-month check-in — rather than a quarterly system. This allows them to gain enough steam within each segment, rather than adjusting their plans for each quarter.
From their beginning, around 6 years ago, they’ve only experienced a few additions to their overall structure, which is more or less been kept intact since the start. The only 2 changes have consisted of the addition of an international team and the growth of a retainment team.
Notably, with the help of the retainment team, they’ve been able to bring in the majority of their revenue from solely returning customers — a sign of a stable company with lots more potential for growth.
To learn more about how Bloom & Wild has grown over the past 6 years listen to the full episode of the ScaleUp Valley podcast. Then, keep listening and keep scaling. And if you want to know more about ScaleUp Valley initiatives, calendar and purpose, join our community by subscribing to the ScaleUp Valley newsletter.