Joseph Einhorn is the Founder of Fancy, a social photo sharing webstore and mobile app that lets people discover amazing stuff, collect the things they love and buy it all in one place.
Try to be an example of someone who has good execution so other people who work at the company can say, “If he could do that hard thing I could do this hard thing,” or whatever.
Nobody in the world is doing what we are doing. First, our product catalog itself is entirely crowd-curated, not the work of a buyer or editor. Shoppers want to buy great products across all categories via one smooth app that is in their language, on their favorite device and that will ship everything from one place directly to their home.
Fancy works like this: no matter who you are, no matter what device you are using (web, mobile web, iOS, Android, Windows Mobile, Google Glass), no matter what language you speak, no matter where you are in the world, if you see something you fancy, you add it to your cart, you buy it, we get it to your doorstep.
We are not aware of any other service that works this way.
We have raised over $70m to date. For me, it’s been important to try to maintain an alignment of interests with all of the shareholders. If you can do this, it should help you navigate and prioritize all of the opportunities and challenges that come up as your company grows.
I simply invited a few people to try out the service and it literally got going from there.
Our logistics operation is complicated. Anytime a customer has a bad experience shopping with us is a bad day. We will deal with an unhappy customer in the immediate term and then we will address the bigger issues by creating new technology systems to better serve our professionals and partners working on logistics management.
When I need to reboot I try to remember that last scene from the movie A Prophet when he leaves prison and he is the don and then i feel better.
We have some individual customers who are on track to spend $1 million shopping with us this year. That’s pretty thrilling.. Just a combination of factors.. they love Fancy, love the products for sale, are happy with our service, etc.
Someone told me the CEO of Goldman Sachs grew up in the projects. That sounds like an incredible journey.
Sure, there are people who I wouldn’t deal with again but it’s ok you live and you learn…
We were selling those cool water jet packs and we had one of our interns go down to Florida and do training in the water with it and get certified to use it. We still have the video and he’s a top person at our company now.