How I Built This with Guy Raz

Advice Line with Jon Stein of Betterment

Plus, Jon’s take on why now is a good time to start a business — in spite of market uncertainty.    Today’s callers: Dan from Washington considers new offerings beyond his core loose leaf yerba mate product. Then, Mike from New Hampshire wants to expand his woodworking business beyond his basement, without taking on debt. And Maggie from Georgia wonders how to respond to rising customer acquisition costs for her soccer-themed dog brand. Thank you to the founders of Heretic Yerba, MTS Woodworking, and Floofball for being a part of our show. If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com [hibt@id.wondery.com] or call 1-800-433-1298. And be sure to listen to Betterment’s founding story [https://podcasts.apple.com/za/podcast/betterment-jon-stein/id1150510297?i=1000422758498] as told by Jon on the show in 2018.   This episode was produced by Noor Gill with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Kwesi Lee. You can follow HIBT on X [https://x.com/HowIBuiltThis] & Instagram [https://www.instagram.com/howibuiltthis/] and sign up for Guy's free newsletter at guyraz.com [http://guyraz.com] and on Substack [https://guyraz.substack.com/]. See Privacy Policy at https://art19.com/privacy [https://art19.com/privacy] and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].

HOKA: Jean-Luc Diard and Nicolas Mermoud. The “Clown Shoe” That Became a $2B Bonanza

In the late 2000s, two French mountain athletes set out to build a running shoe that captured the feeling of flying.  Jean-Luc Diard and Nicolas “Nico” Mermoud had spent decades inside the innovation engine at Salomon—where product was obsession. In 2007, as Nico recovered from a brutal ultramarathon around Mont Blanc, the founders fixed on a problem that Big Footwear didn’t care about: downhill running was destroying bodies. Their solution: make the shoe bigger, softer, and shaped like a rocker. At first, their prototypes looked like clown shoes. Runners who preferred minimalist footwear laughed at them. Retailers said no. But the founders kept doing the one thing that they knew could reverse things: they made people try them. HOKA went from under $3M in sales in 2012 to more than $2B a year—and in this episode, you’ll hear how it happened: the risky design, the early cash crunch, and the strategic partnership that helped them win the U.S. market. What you’ll learn: * How to think of a shoe as a machine, not just a piece of apparel * The go-to-market weapon that worked: relentless demo-ing  * Why outside money can’t always solve a cash flow bottleneck (and what does) * How HOKA used performance proof to avoid being dismissed as a gimmick * Why HOKA partnered with Deckers—and why it wasn’t just about capital * How to keep a “rebel” mindset as competitors start copying you Timestamps: (Timecodes are approximate and may shift depending on platform.) * [07:12] George Salomon’s leadership lesson: the CEO who sought advice from an intern * [11:11] Nico’s first day at Salomon: testing ski prototypes on a glacier * [18:42] The ultramarathon race where Nico’s legs crumbled (and why) * [21:29] A breakthrough insight: performance changes with surface (leaves, lava, snow) * [31:25] Designing a sneaker as if it were a car: engine, tires, seat * [40:00] The “clown shoe” prototype—and the first successful run  * [47:22] Elite runners kickstart the brand  * [49:02] The hard part nobody glamorizes: factory minimums, bank demands, anemic cash flow * [53:31] Deckers enters: the minority investment that unlocks the U.S. (without killing the brand) Hey—want to be a guest on HIBT? If you’re building a business, why not get advice from some of the greatest entrepreneurs on Earth? Every Thursday on the HIBT Advice Line, a previous HIBT guest helps new entrepreneurs work through the challenges they’re facing right now. Advice that’s smart, actionable, and absolutely free. Just call 1-800-433-1298, leave a message, and you may soon get guidance from someone who started where you did, and went on to build something massive. So—give us a call. We can’t wait to hear what you’re working on. *** This episode was produced and researched by Rommel Wood with music composed by Ramtin Arablouei. It was edited by Neva Grant.  Our engineers were Patrick Murray and Kwesi Lee.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].  See Privacy Policy at https://art19.com/privacy [https://art19.com/privacy] and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].

Advice Line with Serial Entrepreneur Mark Cuban

Plus, Mark on his most challenging venture yet: revolutionizing the prescription drug market in America. First we meet Lucy from Washington DC, considering an opportunity to bring her upside-down peanut butter brand into a big box retailer. Then Macy from Utah, wondering if her youth-safe skincare products are better marketed to kids or their parents. Then Dan from North Carolina, looking to reboot his pre-pandemic business selling hand-crafted wooden razors. And finally Kristen from Michigan, questioning if she should expand her children’s winter wear brand with gear for other seasons. Thank you to the founders of One Trick Pony, Girlyish Skincare, Imperium Shaving, and Northern Classics for being a part of our show. If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298. And be sure to listen to Mark Cuban’s original episode [https://wondery.com/shows/how-i-built-this/episode/10386-serial-entrepreneur-mark-cuban/] on the show from back in 2016. This episode was produced by Casey Herman with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Robert Rodriguez and Jimmy Keeley. You can follow HIBT on X [https://x.com/HowIBuiltThis] & Instagram [https://www.instagram.com/howibuiltthis/] and sign up for Guy’s free newsletter at guyraz.com [http://guyraz.com/] or on Substack [https://guyraz.substack.com/]. See Privacy Policy at https://art19.com/privacy [https://art19.com/privacy] and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].

Taylor Guitars: Kurt Listug and Bob Taylor. From $3,700 Shop to Global Icon

A bright blue guitar covered in orange koi fish vanished from a museum display … and Swifties immediately knew what it meant. That distinctive guitar—the one Taylor Swift used to record Speak Now—had been a gift. Hand crafted, by the founders of Taylor Guitars. When she brought it back on stage during her Eras tour, the fans went wild. In this episode, Bob Taylor and Kurt Listug tell the unlikely story behind one of the world’s most respected acoustic guitar brands—how it grew from a tiny San Diego repair shop doing $30,000/year into a global business with nine-figure revenue. And how it survived every challenge that should’ve ended it: a distributor deal that didn’t add up, a brutal market crash in the disco era, and such slow growth that—five years into the business—the founders could barely pay themselves a salary ($15/week). It’s a story about serendipity, obsession, and the quiet power of a partnership where each person knows their lane—Bob with relentless craftsmanship, Kurt with the discipline to turn it into a massive business. Plus: the purple 12-string featured in Prince’s “Raspberry Beret” … the MTV Unplugged boom that boosted the business … and why the founders eventually chose to convert the business to 100% employee ownership. What you’ll learn: * The operating principle that changed Taylor’s production: one finished guitar beats 10 half-finished ones * How to make a slow-growth business survivable (and why Bob saw it as “education”) * How to recognize a bad distribution deal * The design innovations that drew musicians to Taylor guitars * Why Bob got a call from Taylor Swift’s dad when she was 14—and the iconic guitar her fans grew to love * How the business managed demand shocks during COVID * Why an ESOP can be a founder’s best “succession plan” decision * What a great partnership looks like in practice Timestamps: (Timecodes are approximate and may shift depending on platform.) * 00:06:39 – The high school moment: “I didn’t have $175 … so I thought, I’ll just make a guitar.” * 00:07:14 – The American Dream shop: the hippie setup that became a launchpad * 00:10:20 – The “baseball bat neck” problem with guitars—and Bob’s happy-accident innovation * 00:11:59 – Buying the shop for $3,700 … then realizing it didn’t include the name (or phone number) * 00:22:31 – The sentence that changed everything: “Would you rather have 10 half-done guitars or one done guitar?” * 00:26:28 – The distributor deal that ended in layoffs: good sell job, bad math, and what they learned * 00:38:30 – Buying out the third partner: why the business doubled when “the brakes were off” * 00:59:52 – Before Taylor Swift was Taylor Swift: a phone call from a proud dad, and a promotional concert that almost went unheard * 01:09:36 – The inflation economics of guitar building *** Hey—want to be a guest on HIBT? If you’re building a business, why not get advice from some of the greatest entrepreneurs on Earth? Every Thursday on the HIBT Advice Line, a previous HIBT guest helps new entrepreneurs work through the challenges they’re facing right now. Advice that’s smart, actionable, and absolutely free. Just call 1-800-433-1298, leave a message, and you may soon get guidance from someone who started where you did, and went on to build something massive. So—give us a call. We can’t wait to hear what you’re working on. *** This episode was produced by Alex Cheng with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Rommel Wood. Our engineers were Patrick Murray and Maggie Luthar. See Privacy Policy at https://art19.com/privacy [https://art19.com/privacy] and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].

Advice Line with Monica Nassif of Mrs. Meyers

Plus, how candor has been a more effective press strategy than talking points for (the literal) Mrs. Meyers. First we meet Allison in California, seeking marketing ideas for her novel wig designs which aren’t done justice by photos alone. Next, Nick in Idaho wonders whether retail expansion or content development is best to grow his children’s toy and book franchise. And finally, Ben in Virginia considers options like acquiring a nearby company to grow his chandelier cleaning business.  Thank you to the founders of Encelia Hair, Randimals and Chandelier Cleaning VA, for being a part of our show. If you’d like to be featured on a future Advice Line episode — where Guy and former show guests take questions from early-stage founders — leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298. And be sure to listen to the founding story of Mrs. Meyers Clean Day [https://wondery.com/shows/how-i-built-this/episode/10386-mrs-meyers-clean-day-monica-nassif/] as told by Monica on the show in 2025. This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by Andrea Bruce and John Isabella. Our audio engineer was Cena Loffredo. You can follow HIBT on X [https://twitter.com/HowIBuiltThis] & Instagram [https://www.instagram.com/howibuiltthis] and sign up for Guy's free newsletter at guyraz.com [http://guyraz.com] or on Substack [https://guyraz.substack.com/]. See Privacy Policy at https://art19.com/privacy [https://art19.com/privacy] and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info [https://art19.com/privacy#do-not-sell-my-info].