#047 - RERUN - How next-generation retail looks like, with Vibhu Norby of b8ta, USA

The Hardware Entrepreneur

This is a rerun episode so a re-release of the episode Vibhu Norby of b8ta. Why am I doing a rerun? Well, there are a few reasons for it.

Rather than speed up like what most people do, I want to slow down at the beginning of the year. I am doing some energy management by not coming out with new content. Instead I’m reusing some content. This is in line with the first episode I have released this year which was about simplicity. Many times we’re too busy, so busy that we forget to enjoy life and to celebrate some special episode from the past. This is the episode that you loved most in 2017, based on the number of downloads. By re-releasing it, I wanted to put a spotlight on them. Hardware startups, at least in the consumer space want to sell to the end customer and this episode has some important insights so listening to it again or the first time can prove useful.

Vibhu was before with Nest, the smart thermostat maker. This is where he had the realization that retail is far from optimal and that one might have to rethink retail to bring it up to date, to capitalize on today’s tech capabilities. b8ta is essentially a software-powered retailer.

In this episode Vibhu talks about b8ta’s contrarian belief on why brick and mortar stores are dying, how they want to bring back customers to the stores, and what the best brands do. Nowadays e-commerce topics is stealing the headlines, but contrary to this, people actually buy products in stores. You can also learn about conflict of interest between brands and retailers and how Vibhu wants to solve this conflict with his company. You can also find out how he validated his idea, what mistake he made during this time. He also walks us through the process what details make your brand sell or not sell inside a store. And many more topics will be covered, too. Enjoy!

Raw transcript is available at: https://www.thehardwareentrepreneur.com

Show highlights can be seen below:

• Why I am doing a rerun of this episode? - [0:37]
• How is the store model of b8ta reversing the trend of brick-and-mortar stores closing down? - [3:45]
• Previous professional experience that lead Vibhu to creating a platform for solving the retail conflict - [6:44]
• Important observations that evolved into replacing a whole system – [12:55]
• How did he validate the idea? - [14:28]
• Key ingredients that differentiate b8ta from their competitors - [17:23]
• How does the platform pay the makers? - [20:55]
• Importance of timing and speed of bringing products to market - [22:05]
• A walk through b8ta’s four-step customer journey that they analyse - [24:58]
• Plan for success – mistakes the founders made while growing the company [28:05]
• If you could time travel and go back in time, what notes would you give yourself? – [31:57]
• Which book had the biggest impact on his career? – [32:28]
• Vibhu’s everyday routine – [33:11]
• Some cultural differences that Vibhu observed throughout his career – [34:58]
• What is the best way to reach Vibhu? – [36:46]