What To Do Next
Richard Mumby [https://www.linkedin.com/in/rpmumby/] is the CEO of Wip [https://wip.com/] and a longtime operator in consumer brands and growth strategy. Before founding the company, he worked across investing and consulting, helping businesses scale and build durable demand. In this episode of What to Do Next, Richard joins host David Segal to share how Wip is approaching category creation in a market dominated by incumbents. Rather than launching broadly, the company started with a tightly controlled pilot, using early signals to validate demand before scaling. As Wip has grown, that discipline has shaped how the company operates. Richard explains why product performance is non-negotiable, how short planning cycles help maintain tight focus, and why they deliberately hold off on certain opportunities. He also shares how Wip thinks about distribution, retail partnerships, and cash management. — Brought to you by: Highbeam—Grow your brand with Highbeam’s cash management platform: https://www.highbeam.com/ [https://www.highbeam.com/] — Where to find Richard Mumby: • Instagram: https://www.instagram.com/rpmumby [https://www.instagram.com/rpmumby] • LinkedIn: https://www.linkedin.com/in/rpmumby [https://www.linkedin.com/in/rpmumby] Where to find David Segal: • Website: https://www.highbeam.com/ [https://www.highbeam.com/] • YouTube: https://www.youtube.com/@wtdn.podcast [https://www.youtube.com/@wtdn.podcast] • LinkedIn: https://www.linkedin.com/in/david-segal-80b6079 [https://www.linkedin.com/in/david-segal-80b6079] — Timestamps: (00:00) Intro (01:28) What Wip is and how it started (03:14) The LFGO pilot and early product-market fit (04:50) Betting on a new category in a $190B market (07:31) Why early patterns gave them confidence (10:24) Why product performance matters most (17:58) How Wip uses short planning cycles for tight focus (19:40) The beach test that proved the product (21:05) Why consumers trust Wip’s product (23:01) Hiring challenges (24:22) Lessons from past companies (28:06) A better way to interview (31:16) How Richard thinks about career growth (34:39) Opportunities Wip is not pursuing yet (35:50) What people get wrong about wholesale distribution (37:38) How Wip partners with retailers (40:55) How Wip thinks about branding (44:15) Lightning round — Referenced: • Wip: https://wip.com [https://wip.com] • Bain & Company: https://www.bain.com [https://www.bain.com] • Bonobos: https://bonobos.com [https://bonobos.com] • JUUL: https://www.juul.com [https://www.juul.com] • Gilt: https://www.gilt.com [https://www.gilt.com] • Tania Goulart on LinkedIn: https://www.linkedin.com/in/taniagoulart [https://www.linkedin.com/in/taniagoulart] • Zyn: https://www.zyn.com [https://www.zyn.com] • Slack: https://slack.com [https://slack.com/]
8 episodios
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