Use Consumer Accessibility to Your Advantage with David Schottenstein

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March 18, 2021

A.J. and his team chat with David Schottenstein, founder of Privé Revaux, an affordable, high quality sunglasses and eyeglasses brand. Approached by Jamie Foxx, Schottenstein took his idea and turned it into a 9-figure business. Acquired by Sofilo in 2020, Privé Revaux continues to sell affordable, quality products. 

Listen how Schottenstein grew and sold his businesses by using consumer accessibility and celebrity influence. 

On today’s podcast:

  • The disruption business model, here to stay – 3:22. 
  • “As consumers are more better informed and much more savvy they are more willing to shift their brand loyalty” – 4:50 
  • How dropping prices keeping quality will affect your audience 6:47 
  • Why partnering with celebrities was part of his strategy to build his company – 8:31
  • “We live in a world where crossing the ocean isn’t so far away anymore” – 10:06
  • “During your entrepreneur journey, you build skill sets that can take you to the next level” – 12:05
  • The hardest thing to achieve in his businesses – 12:31
  • A successful business he won’t do again – 14:16
  • SM and instant communication: the easy access to consumers to sell products or tell stories without spending a large amount of money – 16:38
  • What is the main differentiating factor for making a successful business and scale it 18:16
  • His option nº1 in terms of investment – 20:48
  • The story behind starting disruption businesses – 23:26
  • Business first or family first? –  24:45
  • Why having charitable goals will keep you motivated as a business owner – 28:54

Key Takeaways: 

  • Informed consumers and their impact on today’s businesses
  • Create the ability to sell a product using social media
  • Giving back, one of the most important parts of the entrepreneur journey.
  • Aligning business journeys and family.

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