Matt Mullenax | Huron
MATT MULLENAX
Founder & CEO of Huron, a modern-day skin care brand for men.
What Is Huron? Tell Us About Your Brand And What Makes Your Products Unique.
Huron is a men’s care brand whose mission is to help guys help themselves. We’ve created the intersection of premium products and a relatable vibe. All of our competitors from a product and formulation perspective charge anywhere between 3-10x our price points. Our goal is to pass as much value -- cost savings, education, etc -- to our end customer as possible.
What Is Your Background? What Led You To Starting Your Own Company, And How Did You End Up In This Space.
My career has been in the consumer/retail space. I started my career in investment banking covering retail and consumer brands. From banking, I left to join Bonobos in the company’s infancy (6 employees), which was one of the earliest DTC brands (although ‘DTC’ did not yet exist). After Bonobos, I spent time on the investing side at a consumer PE firm.
In my investing role, we looked at so many brands targeting the female consumer and disrupting the category. Amazing product/packaging, compelling founder stories and brilliant management teams. But in my late-20s, I was still going to CVS/Walgreens and buying the exact same products that I had been using for 15-20 years. There was a massive disconnect.
Aside from the professional interest, I was also a kid that grew up with bad skin. I tried everything. I threw the kitchen sink at my skin issues. From wandering the aisles of grocery stores to sitting in sterile dermatologist offices, nothing seemed to work. I finally splurged and purchased a ‘premium’ face wash and for whatever reason, the product resonated with my skin. But I didn’t know anyone who’d a) pay that price point consistently; or b) want to go through that discovery process. So, we set out to build a brand that offers a similar level of product quality and efficacy using the world’s best ingredients, but at a much more approachable price point.
What Was The Inspiration Behind The Company Name?
Huron was the street that I lived on in Chicago when my skin issues were at their worst. I wake up every morning with an intimate understanding of the consumer that we’re fighting for. Because I was that guy 10 years ago.
What Have Been Both Your Favorite And Least-liked Parts Of Your Entrepreneurial Journey? What Have Been Your Most Challenging And Most Exciting Moments For You And The Company?
We operate as a small team of 4. So, there are a number of administrative tasks that we tackle on a weekly/monthly basis that aren’t the most intellectually stimulating. For me, that’s accounting-related tasks, taxes, etc.
Diving into consumer insights has been one of my favorite aspects. Understanding what makes our existing (and potential) customers tick, what problems they’re solving, and what they’re looking for in a personal care brand are data points that we’re maniacal in collecting. So digging into the data to understand how we can position and differentiate ourselves in the category is one of my favorite parts of the journey thus far.
What Was The Fundraising Process Like For You? Tell Us About Your Investors And How You Use The Funds You’ve Raised.
We’ve been fortunate to raise capital from ‘operational-angels’ and funds who have operational experience. We wanted an investor base that consists of ex-operators who have navigated the DTC and consumer landscape, who can help us think through strategic initiatives but also more tactical exercises (hiring, retail, marketing, etc.).
With So Many DTC Brands Out There In The Same Space, What Are Some Of The Marketing Strategies You Use To Build Brand Awareness And Acquire Customers? Also, Do You See Huron Launching Products In Other Categories In The Near Future?
We think holistically about our base and where they would (and would not) like to see us. We’re constantly testing new platforms and acquisition channels.
In regards to product pipeline, we will continue to launch products that we know our customers want. This intel comes from anecdotal data points (surveys) but also an intuitive conviction around certain products. Our aim is to help our consumer across the bathroom, so a number of products and product categories are in-play for us.
How Do You Think Your Industry Will Change Post-COVID?
Consumers are much more comfortable (and now attune to) ordering products online. E-commerce will continue to grow and scale as a % of industry-wide sales. However, Amazon has conditioned -- for better or for worse -- consumers to expect 2-day shipping. So fast turnarounds, reliable supply chains, and strong fulfillment partnerships will only grow in importance moving forward.
Tell Us About Your Typical Workday Schedule. What Are Your Morning And Evening Routines?
I’m very much a morning person. My alarm is set for 4:30am every weekday, but I’m usually up beforehand. I’ll eat a small snack, have a bit of coffee and do some work for 30-45 min before either running or going to the gym. My wife and I make breakfast together every morning around 7:45am and then we start our respective days.
We’ve been WFH since March of 2020, but have started going back a few days per week to a WeWork. Typically I’ll work until 7pm or so, break for dinner with my wife, and then address some email afterwards.
After, we’ll watch whatever show we’re into and try to be in bed before 11pm or so.
I’m a data nerd, clearly, so I leverage my Whoop to lean on sleep stats.
What Are The Top Qualities or Skills You Believe Entrepreneurs Need In Order To Be Successful? Also, What Advice Do You Have For Entrepreneurs Who Are Just Starting Out?
Constant optimist. Believe in the mission. Set the tone for your team that you’re building something special. Something that is going to work. As a founder/co-founder, the team is looking to you for that confidence and conviction.
Adhere to the golden ratio. I once heard a business leader refer to the ‘golden ratio’ - the fact that we all have two ears and one mouth. Listen twice as much as you speak. Internalize the perspectives and voice of your team. What’s working? What’s causing friction and frustrations? Give your team an opportunity to voice how they’re feeling and what challenges they’re facing.
Know your limitations. We’re all guilty of trying to do everything. But it’s impossible. Even at an early-stage, you must figure out how and when to delegate. What are your strong suits that you can lean on? What are areas that are not strengths and would be too costly and/or timely to develop (e.g. Facebook media buying experience, supply chain management, etc.). Execute on the former and delegate the latter.
Tell Us A Story Of Something That Happened To You, Something You Heard, Or Something You Saw, That Either Made You Laugh Or Taught You An Important Lesson.
I have a professional mentor who was a high-ranking senior officer in the Navy SEALs. When asked why are the SEALs so successful in their operations, he simply said ‘we don’t pick a fair fight.’
Extrapolated to the startup realm, it’s important to understand where your advantages are and how to leverage them at scale. Is it an organic marketing channel? Is it an important supplier relationship? Is it a retail partnership? Understanding your points of differentiation is imperative to separating from your competition.
If You Can Have A One-Hour Meeting With Someone Famous Who Is Alive, Who Would It Be?
Elon Musk. He’s ‘bet the house’ on his own ventures multiple times. It would be fun to learn about how to channel this ‘irrational optimism’ and building at rapid scale.
What Do You Do In Your Free Time?
This is my favorite time of the year. I’m a huge college football fan. Being from Ohio, Ohio State is my team. My Saturdays revolve around when they play. It’s a nice 3 hour mental break.
My wife and I have also been running together. We’re running the New York City marathon in a few weeks, so it’s been fun to train together and embrace a new challenge.
What Does Success Mean To You?
Building a brand that is customer-first and executes on our vision to be a helpful hand to our consumers.
Matt Mullenax’s Favorites Stack:
Books:
2. Shoe Dog
Health & Fitness:
1. CrossFit (I go to CrossFit Union Square in NYC)
2. Running
3. Garmin / Whoop
Brands:
1. Nike
2. TenThousand / Wolaco
3. Hoka One
Products:
1. Wandering Bear Cold Brew and Jot
2. Ascent Protein (Chocolate PB)
3. LMNT (hydration)
Newsletters & Podcasts:
1. 2pm
2. Morning Brew
