The Entourage Effect & Plunge’s Parabolic Rise with Ryan Duey

Wisdom.MBA

English - August 09, 2023 02:00 - 56 minutes - 38.7 MB
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Previous Episode: Product Development, Market Fit & Minimum Viable Businesses with Chris McKleroy

Next Episode: Entrepreneurship Through Acquisition & Nomadic Business Ownership with Bakari Akil

Ryan Duey is the Co-Founder + Co-CEO of plunge.com. Plunge has seen fantastic growth with increases in demand for cold plunge and contrast therapy coming out of the pandemic. Ryan and I go deep into what caused the company’s parabolic rise and how he and his co-founder Michael Garrett were able to both help create and capitalize on the current cold plunge boom.

We talk about getting free organic exposure from Lebron James. Plunge’s origin story during COVID lockdowns. His appearance on SharkTank, goals for the future and his honest advice for young entrepreneurs. A really fascinating insight is Ryan’s concept of the entourage effect. I had never heard of the concept before, but I think it is a genius and a big reason why the company and cold plunges in general took off so quickly in the United States.

If you like health and wellness or a great founder story that involves taking risks and pivoting during adversity, then I think you will really like this episode.

Discussion Topics:

(1:17) Icebreaker: study abroad.

(3:16) Lebron James, Tony Hawk, Andrew Huberman and more.

(14:37) Why did cold plunge go parabolic in December 2022?

(21:30) The entourage effect.

(24:09) Which celebrity has the coolest house?

(30:47) Plunge’s origin story - necessity is the mother of invention.

(38:12) Sharktank … was it worthwhile?

(43:00) Sauna launch.

(51:29) Advice for young entrepreneurs.

(53:33) Rapid fire.