Brian Smith was born in Australia, where he developed his love of surfing. A chartered accountant, he studied at the UCLA Graduate School of Management, and with $500 of start-up money, he founded UGG Imports to bring sheepskin footwear to America. After seventeen years, as sales reached $15 million, he sold the business to Deckers Outdoor Corporation. The UGG brand has since exceeded $1 billion of international sales times over. A passionate innovator and entrepreneur, Brian is one of the most sought-after business leaders in the country today. As a media guest and inspiring speaker, he is committed to teaching his breakthrough business strategies to entrepreneurs and translating personal vision and spirituality into company culture.
I recently interviewed Brian on The Brainz Magazine Podcast. We had a wonderful conversation. I wanted to capture some of the questions in the interview and showcase some of the wisdom and stories that Brian so wonderfully articulated.
I know you’re a big surfer, when was the last time you surfed? Can you share some awesome stories about that?
I haven’t surfed for about 3-4 months because we are coming out of winter here. I don’t handle the cold so well. In my book, I mention my most memorable surf, I didn’t catch a wave, but I watched the sunset, golden orange, sat there for an hour, that was my fav surf.
You sold Ugg Imports to Deckers Outdoor Corporation, do you have any regrets about that decision?
I have no regrets, it was the right time and some interesting side stories with my decision. We had a lot of bookings but not able to fulfill the orders because we didn’t have the finances. It wasn’t capitalized well from the beginning. Luckier, I had a buddy who owned deckers, Doug had taken his business public, he had the cash, and his business died every winter and our business died in the summer, I met him in Atlanta baggage reclaim, he had the money and I had the sales. We made the deal, and the rest is history.
What is it like to sell something which you’ve developed over a number of years?
That's a great question and I will give you a great answer. I wrote a book called the “Birth of a Brand “ you can’t give birth to adults. The birth was me buying 6 pairs of Ugg samples. Eventually, your brand and business grow and have different needs. I realized I couldn’t take my business to the next level, its like handing your daughter over to her new husband, but as your business expands it will develop different needs and you have to decide if you can expand it or if it needs new impetus.
How do you take an idea and make it a reality?
The most important thing is to start. Thousands of people have an idea but they don’t do anything with that idea. Once you start your idea, all the information will start coming into your space and path, the universe conspires on your behalf to make it happen.
** Listen to the podcast to hear the great story which unfolded which started the Ugg revolution. Brian talks about the importance of taking criticism and giving the customers what they really want and the importance of getting out of your own way. Your biggest disappointments often become your greatest blessings.
Tell us about Lash.Live, what is it, and why did you get involved in it?
I got involved because I have been mentoring a lady who’s making lamb leather sash bags, the next fanny pack. She had to get rid of 100 bags because of defects, she sold them all on Facebook for $100 each, they sold so fast. The problem was there was no payment system on Facebook, it took her a month to convert the sales. We put some money into creating a live action service system to purchase the products. We solved the problem. Lash.Live is a great online live action service system.
With Nicole, the sash bag was so much like Ugg, It has mirrored Ugg all the way through the process. It made it a very attractive proposition. Nicole is such a smart and gifted individual, a great planner and extremely artistic and great with numbers. Nicole has an amazing following, 70,000 sash sisters who have bought multiple sash bags.
You’re an author and a speaker. What do you believe the world needs to hear more than ever?
If people could just understand where their neighbor or customer is coming from in their perspective and in their needs. We need to listen to those around us, we need to understand people, fear will go away and then the love will start to appear. Take the time to better understand each other.
Business-wise you need to find out what people want and then figure out how to give it to them.
Who would you most like to meet, living or dead and why?
I don’t feel I need to meet this person anymore, but it used to be Richard Branson, he had no limits, he could think really big. I was so interested in his upbringing. His mom expanded his horizon, she dropped him off a mile away from home when he was 7 years old and told him to find his own way back. How confident he must have felt when he found his own way home.
Listen to the full interview on Spotify!
