David Barnett has learned a lot since first launching PopSockets more than a decade ago.
As the tale goes, the former philosophy professor was looking for an easy way to hold his headphones and went on to create one of the most viral phone accessories of all time: PopSockets — a device that adheres to the back of the phone and can be used as a kickstand or a handle.
Barnett sat down with Equity this week to talk about his journey building this company from his garage, why he decided to never take on traditional venture capital funding, and some of the lessons he’s learned while scaling the business.
“I was a philosophy professor, so I had no experience with manufacturing,” he recalled, adding that he also lacked experience in business, tax, accounting, and finance. “I burned through a lot of money with no revenue,” he continued, adding that he had “wave after wave of manufacturing defects” during the early days.
Still, he managed along and was able to land in a local toy store where he would often stop by to watch how customers interacted with his brand. “The sales were quite slow,” he said. He adjusted the PopSocket a bit, and that’s when everything started to take off. “That was the point where I thought, ‘Okay, this could work in retail.’”
From there, he spoke about the hits and misses of entering retail (including a dispute he had with Amazon that briefly caused him to pull his product from the website). He spoke about adapting the product even more, protecting intellectual property, and when he knew it was time to step down as CEO and let someone else take the reins.
“The greatest lesson I’ve learned is that it’s all about the people,” he said, adding that he was looking for this trait in his successor. “I think that’s the most important skill one can have as a leader.”
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