"I Can't Even Go Out Of Business Properly" Founding UGG | Brian Smith

Would you know if your business was failing, or just waiting for its storm? Brian Smith quit accounting the day he qualified and moved to California. He bought 500 pairs of UGG boots and sold 28 in his first year. In year five he’d decided to close the business. Then the first winter storm hit, and his answering machine filled with surf shops asking for more boots. He sold UGG to Deckers in 1995 for a reported $14.6m. In Deckers’ 2026 financial year, the brand did $2.74bn in sales. Today he’s a keynote speaker, a mentor to founders and the author of The Birth of a Brand. His lesson for anyone building or backing a young business: slow early sales are normal, and fast growth brings its own danger. In his words, “You can’t give birth to adults.” What you’ll learn: Why a product business can go broke while its orders keep growing How a high five at Atlanta airport started the sale to Deckers Why retailers had to try the boots on with bare feet before talking business What the kids at the back of a surf shop taught him about advertising The stages every business goes through, and why the teenage years are dangerous Why he held back the news when Oprah Winfrey got her first pair Why he calls early hires “scaffolding employees”, and when to let them go Chapters 00:00 Why a tadpole becomes a frog faster by being a tadpole 01:56 From chartered accountant to no UGG boots in America 07:58 The six-pair stocking plan that turned the company around 10:43 Bare feet at a Las Vegas ski show and the biggest order yet 13:05 Advertise the freedom and status your product brings 14:21 Two colours and a small range to keep stock down 15:46 Paying factories 100% upfront: the cash trap in products 17:55 Funding a young founder, and why you can’t give birth to adults 21:23 The first storm, then surf ads that took sales to $220,000 26:58 Why his biggest failure was not understanding finance 28:56 Two vans in Malibu, a high five in Atlanta and the Deckers deal 33:05 First hires and the scaffolding employees 36:35 Leading by example, and why he scores himself a five 38:21 Salesman or marketer, and the billboard with a tiny logo 40:36 New York fashion and Oprah take UGG worldwide 44:56 Helping founders through infancy today Connect with Brian LinkedIn: https://www.linkedin.com/in/briansmithuggf...