What can you do to welcome more business success and profits?
Success leaves clues if you know what to ask and where to look. The host of The Deep Wealth Podcast and post-exit entrepreneur Jeffrey Feldberg speaks with fellow entrepreneur and market disruptor Jared Kugel who shares how he grew his company 11X in one year.
Who would think that selling tires could lead to a multi-million dollar business? Jared grew up on Long Island and spent thirteen years working in his family’s tire business. But he had bigger dreams.
In 2017, Jared took a chance. He had an idea and pitched it to a stranger on LinkedIn. This bold move paid off. In just a week, that stranger became Jared’s first investor. Despite facing tough times, like almost becoming homeless, Jared turned his vision into reality.
“Imagine being in a world where nobody has faith in you,” Jared said. But he didn’t give up. Instead, he pushed forward, raised over $10 million in investment, and transformed his idea into a leading online retailer, Tire Agent.
Jared’s journey teaches us that success often comes from staying in the race, even when the going gets tough. His company, Tire Agent, has sold nearly 2 million tires since 2020, proving that sticking it out can lead to astonishing results.
Deep Wealth Podcast host, Jeffrey Feldberg, praised Jared during their chat: “Some people call it luck. I call it serendipity. There’s no such thing as luck in my books.” Jared’s success wasn’t just about luck but his determination, grit, and a little serendipity.
Jared faced big hurdles. Nearly homeless and on the verge of financial ruin, he had to sell his possessions to stay afloat. “I was living off crackers and jelly!” he recalls, showing that entrepreneurship isn’t just about glitz but grit. Yet miracles happen. Investors who saw him on stage came forward, and he impressed them enough to bag a $750,000 cheque. This funding gave him some breathing room to focus on his new venture, Tire Agent.
A Leap of Faith
Starting Tire Agent meant Jared had to leave his family’s business, where he felt stuck. He wasn’t sure about his future there. Then, one day, he pitched his idea on LinkedIn. Even though he wasn’t sure what a “deck” was, Jared learned fast. With a $100 investment in a presentation, persistence, and a venture capitalist on board, he was ready to take the leap.
“You want to build a business where you’re a domain expert,” Jared explained. He knew the tire industry inside and out, and with this foundation, he was ready to change the game.
Jared emphasizes the importance of failing fast and learning quickly, saying, “Try something, fail fast, move on.” His early experiments with mobile tire services and search engines flopped. But these failures taught him valuable lessons. With clarity, he turned his focus toward retail. Questioning conventional ways, he chose to cater to the average consumer—someone like him during his toughest times. Jared shared, “I wanted to go after the average hard-working consumer.”
Fail Fast, Learn Fast
Jared’s philosophy was simple: “Try something, fail fast, move on.” It was this mentality that helped him pivot quickly, trying different business models until Tire Agent found its groove. It wasn’t smooth; financial strain was real, and Jared had to make personal sacrifices. But he kept learning and adapting.
Jared’s journey was about more than dollars and tires; it was about building a customer-first business. He dedicated himself to ensuring that his team prioritized customers and were not mere yes-men. “You never want to hire yes-men,” he advised, “You want to hire people that are going to voice their opinion.”
A critical part of his story is his insistence on a no-compromise customer experience. Jared believes that “if you take care of the customer, you build your name, you build your business.” He invested time in creating a team culture that values great service over mere transactions. “We’ve done a great job of that,” he proudly states.
The Mindset of Winning
While chatting with Jeffrey, Jared highlighted what sets him apart: focusing on being the best, not just making the most money. “Winning doesn’t always mean money. For me, when customers… keep coming back, that’s winning.”
Jared’s approach isn’t just about competing with others. It’s about creating a unique space for Tire Agent. He didn’t worry about every competitor. Jared’s focus remained on his customers and giving them a remarkable experience.
“It doesn’t matter what industry you’re in… Make sure you’re always at the forefront of innovation,” Jared advised. Playing offense, not just defense, helped him and Tire Agent thrive.
Jared stressed the importance of hiring a great team. “I want to build a culture that was like a family atmosphere,” he said. And that’s exactly what he did. By focusing on values like great customer service and genuine passion, Jared assembled a dedicated team that shares his vision.
His advice for entrepreneurs? Be picky about who joins your team. Hire for values and culture, not just skills.
Jared’s journey in growing Tire Agent was full of twists but also triumphs. He describes how he and his team worked in cramped and unconventional spaces to save costs while expanding. Growth wasn’t without its challenges, but Jared’s philosophy of building a rapport with customers served him well. He points out, “We have a really high repeat purchase rate right now.”
With passion as his vehicle and determination as his fuel, Jared grew Tire Agent from nothing into one of the leading online tire retailers in the U.S. “We love our customers and that is anyone that knows me will tell you that is who I am,” Jared affirms. His dedicated approach proves that authentic care for clients can be the best business strategy.
Jared’s Lesson for Entrepreneurs
If Jared’s story teaches us one thing, it’s this: Don’t be afraid to take chances. “Don’t be afraid to pitch yourself to strangers,” he encourages entrepreneurs. The right opportunity might just come from the most unexpected places.
Jared’s persistence and willingness to take risks paid off in a big way. With Tire Agent’s success, he’s proven that with the right mindset and determination, anything is possible.
Even with success, Jared doesn’t rest. He knows the importance of continuous innovation and improvement. “I am never complacent,” he declares. This drive constantly pushes him and his team to take Tire Agent to new heights.
Success isn’t about sitting back and enjoying the ride. For Jared, it’s a continuous journey of innovation and striving to do better. Even after a tremendous growth from $3 million to $33 million in a year, Jared’s focus remains on moving forward.
“You have to be so agile as an entrepreneur early on that you have to move quick with everything you do,” Jared advised. This flexibility and a relentless pursuit of improvement is what keeps Tire Agent thriving in a tough market.
Conclusion
Jared’s story is an inspiring tale of hustle, resilience, and innovation. Despite challenges, he transformed Tire Agent into a powerhouse in the tire industry. His journey from LinkedIn pitches to leading the market is proof that big dreams require bold moves. Remember, success is just one brave step away, and for Jared, it was a LinkedIn message that made all the difference.
So, what can budding entrepreneurs learn from Jared’s story? Jared’s wisdom echoes loud: believe in yourself, even when others don’t. “Don’t be afraid to pitch yourself to strangers,” he says; after all, his journey started with a bold outreach to a stranger. By being brave and seizing opportunities, you can create a solid foundation for future success.
So, take Jared’s advice: believe in yourself, don’t fear failure, and always strive for better. Who knows? The next big success story might just be yours.
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