Entrepreneur Greg Taylor Transforms Tragic Hiking Accident into Groundbreaking Underwear Invention
Chat with Greg, the genius behind Step One
Hey there, in this chit-chat, we uncover Greg's brilliant mind and the birth of a unique underwear brand, all stemming from a simple yet bothersome hiking incident. That's how Step One came to be, where Greg's entrepreneurial spirit converged with a genuine need for comfy undies.
Sit back and listen to Greg's fascinating journey, as he shares insights from his early experiments with designs, like the UltraGlyde panels and the choice of bamboo-viscose fabric. Catch a glimpse of his experiences before Step One, such as competitive rowing and previous entrepreneurial ventures. These experiences taught Greg all about resilience, team management, and the importance of hands-on involvement in every aspect of the business.
So Greg, that a-ha moment on a hiking trip was the kick-starter for Step One. Can you take us through that awkward, yet inspiring incident and how it transformed into a game-changing underwear brand, with no prior experience in the industry?
Oh, definitely! My wife Sophie and I love hiking in our free time, especially on weekends and on those vacations we pick around beautiful trails. One time in New Zealand, on a multi-day hike, I started experiencing unbearable chafing, and believe me, it sucked big time! It was so painful that it took the fun out of the experience.
After getting back home and searching endlessly for a solution, I still came up empty-handed, so I got creative! I even started cutting panels out from the inner thighs of bike shorts to try to make something that would work. Interestingly, the panel solution actually did the trick. Since I'm always entrepreneurial at heart, I figured that if this problem affected me, it might as well affect other folks, so I decided to take a shot at creating a product to solve it.
Other than perfecting the panel solution, which we call "UltraGlyde panels," I wanted to craft a product that would go beyond just relieving chafing. We also created a "3D pouch" that grows to snugly fit any guy, while the material of choice was luxurious, bamboo-viscose fabric. Besides being antibacterial and antifungal, bamboo viscose is also a sustainable option, as it is more sustainable than any other fabric out there.
Three cheers for Mother Nature, hooray!
From a bedroom startup to a publicly listed company – wow, your success story is astounding! What key strategies or decisions do you think were crucial in achieving such rapid growth for Step One?
First and foremost, I focused on crafting an excellent product. I invested my own $5k to perfect the prototype and found the right suppliers who could meet my high standards. We have garnered over 50,000 positive reviews and 65% of our customers are repeat buyers, which proves to me that taking my time to get the product right was the right call.
Secondly, I prioritized mastering e-commerce. Since we don't have a physical brick-and-mortar store, we needed a strong online presence to connect with our customers. Thus, we made sure our brand was visible on social media, news pages, TV, and more.
Third, our team and I are comedy aficionados, and our brand ambassador, Lawrence, is quite the jester. Adding a hilarious and inclusive touch to Step One has been a hit with our customers!
Lastly, our commitment to sustainability has been a game-changer. Our transparency about our eco-friendly practices makes customers feel good about investing in us.
Innovation is the beating heart of Step One, especially the UltraGlyde panels. Can you tell us about the process of developing this magical feature and how it sets your brand apart in the market?
Creating the UltraGlyde panels was a grueling process, taking a fair amount of trial and error. Initially, I started cutting pieces from bike pants and testing various fabrics of different thicknesses to reduce friction. The added challenge was preventing the fabric from riding up between your legs, adding to the unwanted friction.
The fabric we use for the UltraGlyde panels reads like a sports enthusiast's dream: similar to bike shorts or compression leggings, but made from bamboo viscose, providing optimal support while preventing saddle sores.
With sustainability at the core of your business, what inspired this eco-friendly approach, and how has it impacted your business operations?
Sustainability has been a driving force for Step One since day one. I made it my mission to collaborate with factories that not only proved their environmental commitment through certifications but also provided fair pay and working conditions for their employees.
It took me over 20 interviews and extensive research before I found the right partners who aligned with my vision. To ensure their commitments remained consistent, I required them to renew their certifications annually and welcome unannounced visits from our team during operations.
Having been a competitive rower and having founded several businesses before Step One, what lessons did these experiences teach you that you've carried forward into your leadership at Step One?
Being successful in sports and business requires a strong work ethic, discipline, and being able to adapt when things don't go as planned. Rowing taught me resilience, being able to strategize for better results, and learning from my mistakes. Prior ventures taught me the importance of building a strong team and adaptability in embracing new technology.
Navigating market challenges, especially as a sole shareholder, can be nerve-wracking. How have you managed to keep Step One profitable during economic downturns?
To maintain profitability during tough economic times, we utilised AI technology as much as possible. This saved us time, resources, and facilitated an efficient workflow. Our team hires only the best, making work more efficient and profitable. In addition, securing impressive environmental certifications created a level of confidence in our sustainability practices amongst investors on the ASX.
Looking back on your entrepreneurial journey with Step One, what advice would you share with aspiring entrepreneurs entering a field they have little to no prior experience in?
- Assemble a team with the right expertise to help fill in your knowledge gaps.
- Stay curious and ask questions about what your team is working on, as being informed helps make more informed decisions.
- Test your product and listen to customer feedback meticulously before mass producing to ensure you've got the perfect product for your consumers.
- Solve a real-world problem to create a product that people genuinely need. The demand will take care of the rest!
Greg reveals the origin of Step One's innovative underwear design
The idea for the UltraGlyde panels came from a practical problem I encountered during a hiking trip. Feeling the impact of chafing, I explored various solutions, including cutting panels from bike shorts, until I found what worked. This personal experience led me to create a product that would solve the issue for others.
Greg discusses the eco-friendly fabric choice and business growth
The choice of bamboo-viscose fabric for Step One underwear was essential, as it offers multiple benefits, such as being antibacterial, antifungal, and sustainable. This sustainable approach struck a chord with our customers, contributing to our rapid growth and earning us a spot as a publicly listed company.
Greg shares insights on the growth and success of Step One
Focusing on the creation of an exceptional product, mastering e-commerce, incorporating humor in our brand image, and emphasizing sustainability were key strategies that propelled Step One to rapid growth. With over 50,000 positive reviews and 65% repeat customers, I believe investing time in perfecting the product was vital to our success.
Greg talks about the development of the acclaimed UltraGlyde panels
Creating the UltraGlyde panels required thorough experimentation with the materials, fabrics, and thicknesses. It took many trials and errors to develop a solution that not only reduces friction but also prevents the fabric from riding up between the legs. The result is a material akin to bike shorts or compression leggings, made from bamboo viscose, ensuring optimal comfort and support.
