Entrepreneurship Unveiled | Taylor Offer from FEAT Socks

In today's episode, Cody and Justin are joined by Taylor Offer from FEAT Socks.

This 26-year-old has been making millions since he was 22 from selling socks.

Yes, you heard us right...Socks. But FEAT Socks aren't your average socks and Taylor isn't your average entrepreneur.

Taylor gave up a prestigious investment banking internship to follow his dreams and create a business.

There was failure and even an unhealthy amount of success. Today Taylor has streamlined business and his life and ready to show you how.

Listen and read below to hear his amazing journey.
Episode Summary

* We welcome Taylor from FEAT Socks
* This business now makes millions annually
* From a young age, Taylor was fascinated about price arbitrage -- this is where you can buy something and sell it for a big markup
* Taylor doesn’t remember one moment that made him interested in money
* He was more focused on value even as a child
* Going into college he was only focused on a lucrative degree
* He got a coveted internship in banking
* Then realized how unhappy everyone in this business was
* That made him realize that entrepreneurship was going to be his path
* People were hard on him for dropping his coveted internship
* His first business venture was a marketplace for college kids
* It was called Market Loco and got over 500k hits in a month
* The infrastructure costs were too expensive, so it failed
* His next venture was making custom print t-shirts for frats / sororities
* He started door-to-door but did a huge cross-country spree
* It was really successful at the beginning and seemed too easy
* Then one of his orders got ruined by the manufacturer on a $7k order
* Taylor realized custom business was really tough
* Great quote – “There’s a million ways to get it wrong, and only one way to get it right”
* He meets his soon-to-be business partner his senior year
* His partner parker had done $1M+ in custom lacrosse jersey sales
* They brainstormed and settled on crazy socks as the next idea
* This would become FEAT Socks
* They sold $2k worth of socks out of a backpack on campus the first day
* Over their senior year they sold 20k pairs of socks
* They were making these by hand with a heat press
* Eventually they hired out college friends
* Imagine college kids in an unheated workspace, drinking and making socks
* They really grew their list through Instagram and Facebook
* Things really turned when they got their angel investor
* Overnight they get $250k as seed money and FEAT Socks is legit
* Then through some connections they get Aly Raisman as an influencer
* It was during the Olympics and she sells $500k worth of socks and FEAT Socks goes viral
* Originally, they were going to give away 50% of the company for $50k
* Instead they raised the $250k at a $1.5M evaluation
* Then we start talking about how the business got away from them
* At age 23 they are making millions, move to LA and hire 20 entry-level employees
* They get a 5k square foot warehouse all decked out
* Taylor and Parker get named to Forbes 30 under 30 and life seems perfect
* Then, their logistics company misses Christmas delivery dates for a ton of customers
* They also spiraled into depression and worked 16 hour days all week
* Taylor just broke down one day and took a one way to Thailand
* He saw these poor kids in the streets who were happy
* That moment made him really realize what was imp...