Madness, Mushrooms & Makeovers

March Madness is truly one of the greatest sporting events of the year. The world whole just stops when that first round of games start. It’s remarkable how little work gets done during March Madness. Not me of course, but other people.

Just to get an understanding of how big it is… Over 70 million people fill out a bracket each year. About 22% of the entire United States population. Nuts.

Then in 2 weeks, we’ve got the Masters. It definitely feels like spring has sprung. Even tho it’s still below freezing here in NYC. Just brutal. My heat just kicked on. What the fuckkkkk.

I figured since we’re almost 3 full months into 2024, I’d do a quick check-in on my resolutions for the year. See how we’re doing…

1) I decided to quit caffeine in the new year. I found myself insanely anxious at the end of 2023. Day in & day out, feeling uneasy & fidgety. Not really being able to sit still & more worrying than usual. Sure, I was unemployed & homeless but regardless, I needed to make a change. I figured I’d stop drinking coffee/consuming caffeine. I wasn’t drinking a ton of it but enough where cutting it out could help.

Proud to say I haven’t had a real cup of coffee since last year. I’ve mixed in a few decafs here & there. No espresso martinis either. I’ve fully adjusted to only decaffeinated tea & this coffee alternative mushroom stuff.

It’s not the best tasting thing in the world, but with some almond milk & maple syrup it becomes drinkable.

Grade: A

2) I needed to have a real exercise routine this year. Back in 2022, I was an Equinox member (not a big deal). I loved going. I hit workout classes, basked in the steam room & took extra advantage of the refrigerated eucalyptus towels.

Yes. That’s a real thing. It’s magical. Anyways, once I lost my job, I just couldn’t swing $250/month for a gym membership. I was really into running at the time, so at the end of 2023, I thought I could just get my workouts in by going on jogs outside. Unfortunately, if you’re just running outside, you’re not going to go every day. It’s too tough on the knees & you rely on weather. So my routine just sucked.

This year, I’ve committed to workout classes & lifting more. Luckily, I’m employed & can afford to spend a few more dollars each month at places like Barrys & Corepower (not sponsored (but open to be sponsored)). I’ve also got small gym in my building, so even on a bad weather day, I’ve got no excuses. I’d say I’m doing pretty well on this one.

Grade: B+/A- (could still do better, I still don’t have a 6-pack)

Regardless, we’re improving. Positive growth. Maybe the results aren’t necessarily as obvious as top-line growth, but it’s growth nonetheless. Maybe I’m growing my bottom-line? I like that. Same revenue, more profit.

Welcome to week 23 of Trust Fun. Jordan week.

Sexy Growth

Just like personal bottom-line growth, finding extra dollars in your brand’s P&L has never been more important. Sure, top-line growth is sexy, but profitability is 100x more important these days. Growing the bottom line is quite literally the only thing that matters. Ain’t nobody buying or selling consumer brands for a revenue multiple anymore.

F*ck you, Allbirds. You ruined it for all of us.

Someone (whether it’s you or one of your employees) NEEDS to understand where the f*ck your dollars are going day-in & day-out. As brand operators, we have just about a bazillion credit card charges every day. Whether it’s a SAAS subscription, Meta ads, contractors, etc, it’s a near impossible task. If you have any secret sauce ways to save $$ on COGS / general costs do not (I REPEAT, DO NOT) keep that sh*t to yourselves. Share your sauce. We all need help. At Mugsy, we are doing literally everything we can to find these needles in the haystack to add more $$ to our bottom line.

As you may have gathered, I have something new & shiny. I’ve got some needles I’ve found for all of you. 😈

You know how Target & Nordstrom have their own branded credit cards where the super fans can earn even more while shopping with your brand? It’s like a super-sized, mega loyalty program. The most beautiful feedback loop ever.

This means no more shelling out cash to a bunch of processing players (PayPal, Shopify, Klarna, etc,etc.). Instead, every time someone swipes their Mugsy Credit Card, I only have to deal with one teeny-tiny fee from the issuing bank (less than 1% 🤯).

See ya later 2.5% Shopify fee.

Tandym, the brainiacs behind the DTC Branded Payments platform. They've taken the good ol' store card game and given it a swanky makeover, tailor-made for us, the direct-to-consumer darlings and our flock of faithful & loyal customers.

With Tandym on the scene, DTC operators can tap into this Branded Payments magic almost like snapping their fingers, plus they get a squad of pros who know this stuff inside out. If you're ever in doubt about your loyalty program, Tandym's got your back with loyalty audits and financial crystal ball gazing. So you'll always know what to expect.

Lucky enough, the founders are also Trust Fun readers, so they’re offering a sweet deal for us. Sign up here for a demo with Tandym or just DM me & I’ll intro you to the team. Nik Sharma raves about these guys (he’s also an investor). So if for some reason you need an endorsement from a guy ever so slightly richer than me (idk why you would), here’s what DJ Nik said:

As always, if you do a demo, let me know & I’ll send you a Trust Fun Baby hat.

$100 (?) value I guess.

That is all today. I get to play golf next weekend. Can’t wait. Have the best week ever.