Distinguished Speakers Series: David Heath, Bombas

Bombas co-founder and CEO David Heath spoke with Fuqua School of Business Dean Bill Boulding on November 14, 2023. The talk was part of the school’s Distinguished Speakers Series.
More information about the series can be found at www.fuqua.duke.edu/dss
00:00:00 Intro
00:00:49 What does it take to be successful as an entrepreneur?
00:04:34 Was your idea for Bombas about social impact, or building a business?
00:07:31 How did you learn to make socks?
00:11:06 How did you decide to go direct-to-consumer?
00:14:16 Were you excited to appear on Shark Tank?
00:17:26 Your valuation on Shark Tank was $1 million, what is it today?
00:18:29 How hard is to get registered as a B Corp?
00:20:30 How do you make decisions about how to serve your non-paying customers?
00:25:04 How do you decide which partners to take on?
00:26:53 Is there ever any tension between serving your different customer groups?
00:28:40 Would it create tension if you were a publicly-traded company?
00:30:28 You have extended into spaces that are also highly needed in homeless shelters, is that the formula for future expansion?
00:34:31 Do people take advantage of Bombas, with your lifetime warranty?
00:36:59 How do you make the transition from founder to CEO, without losing touch with your entrepreneurial roots?
00:39:49 You motivated your team by promising to get a tattoo, do you still use that as a tactic?
00:41:24 Have you looked at the mental health benefits you provide to the homeless popluation?
00:44:00 How do you convince people to fund your business idea on a crowd-sourcing web site?
00:45:22 How do you convince customers that your socks are better than existing socks?
00:46:40 ADo you have any advice for us, as we get our MBA's soon, and seek to be successful business leaders?
00:48:53 What role does company mission play in exploring a potential IPO offering?
00:51:24 What's the next big step for you, regarding selling your products?
00:53:11 How do you balance preparing for entrepreneurship vs. learning on the job, and how do you handle the uncertainty and stress of starting a business?