"If you can really be the lowest risk, highest return option, people will get it. The experts in that industry will get it and they will sign up."
We sit down with Rachael Nelson, the Founder and CEO of Brandy, in this episode of Founders in LA. Rachael shares her journey from aerospace manufacturing to leading a groundbreaking app that democratizes influence by allowing everyday consumers to earn meaningful money through simple endorsements of their favorite brands.
She describes the inception of Brandy, highlighting the importance of passive income and the power of word-of-mouth marketing.
Rachael's insights into creating a low-risk, high-return product, and her commitment to adding value to the economy by supporting consumers, provide invaluable lessons for aspiring entrepreneurs.
Join us for an inspiring conversation filled with practical advice and the story behind Brandy’s mission to make affiliate marketing accessible to everyone.
Top Takeaways:
Simplified Affiliate Marketing: Brandy is designed to make affiliate marketing incredibly easy and accessible for everyone, including older adults like Rachael's 92-year-old grandmother. The platform allows users to earn money by endorsing brands they already use without needing to create content or build a large following.
Focus on Passive Income: Rachael is passionate about adding billions to the economy by enabling consumers to generate passive income. She emphasizes the joy and financial relief that can come from earning money by simply sharing products they already love and use in their daily lives.
Low-Risk, High-Return Product: Rachael stresses the importance of making Brandy a low-risk, high-return option for brands and consumers. By carefully analyzing market options and addressing pain points such as tracking conversion rates and payment difficulties, Brandy positions itself as a reliable and attractive platform.
Adapting to Market Needs: While staying true to Brandy’s core mission, Rachael acknowledges the need to be aware of market trends and prepare for future features that will keep the platform relevant. However, she advises against chasing every trend, instead focusing on the essential elements that will benefit the community.
Community and Networking: Rachael highlights the importance of being in the right environment for growth and networking. Moving to Venice, a hub for serious entrepreneurs, provided her with invaluable connections and inspiration. She underscores the value of surrounding oneself with a community that supports and accelerates one’s business goals.
Top Quotes:
"It's simple enough that even my grandma who's 92 actually can understand and use that on her iPhone and so it's the most simple form of affiliate marketing that could possibly be produced in my opinion and I'm amazed it doesn't exist yet but we're doing it for the first time."
"I want to add billions to the economy, to consumers who need passive income, who need to feed their kids, buy Christmas presents... there's so much joy that we get out of the things that we buy when they're the right things that we buy."
"To be low risk you really have to look at what options are available on the market currently and like make a feature list and go through every single one of those and start talking to people about those different features."
"I think one thing I will say about anyone who is building I think what was particularly impactful for me was making the decision to move to Venice."
"And there's certainly ways to watch what the market is doing and watch what people are flocking to and prepare for the day when it is essential for those features to be incorporated into your product in order to be essential and relevant to your community."