Apr 23, 2020
Were you ever that person in high school that was just terrible at volleyball? Do you miss being a kid and playing four square at recess? Do you love going to the beach, but feel left out when you can't play beach volleyball? There is now a solution to that predicament: CROSSNET! It is a new game developed to solve all three problems.
Today’s guest is the co-founder of CROSSNET, the world’s first four-way volleyball game. Chris Meade moved to Miami in 2017 to start the business with his brother and a childhood friend. Now, CROSSNET has swamped the market and is being distributed by retail giants like Walmart and Target.
Chris joins James and Dean as they go over the progression of how an idea turned into a million-dollar company. They discuss tips for running a business, why it’s important to be patient and frugal, and so much more!
We don’t surrender cash unless it’s going to bring us back money. If I spend $10, I better be getting $11 back. That’s been our whole mindset since we’ve started the company. - Chris Meade
Outline of This Episode
- [03:49] CROSSNET, from idea to business
- [09:26] The negotiation between the company and retailers
- [15:27] The biggest challenge in owning the business
- [17:40] Future plans for CROSSNET and the company
- [20:29] What made Chris and his partners decide that the idea was worth it
The inception of CROSSNET
CROSSNET is a four-way volleyball game that merges traditional volleyball with the game four square. It divides the court into four quadrants, rather than in half. The rules combine traditional four square and volleyball elements in a competitive game.
They started out advertising by going to the beach and playing the game every day until people caught on and got interested. Three years later, CROSSNET is now available at Walmart, Target, DICKS, Academy Sports, Amazon, and 20 other retailers.
The biggest challenge of owning a business
For Chris and his partners, the biggest challenge they faced was during the early days of the business. In their first year, the company only made $80,000. They did not make any profit from the money and all of it went back to the company. Chris mentions that they had to be super patient for the first year and a half before seeing any return on their investment.
It may have taken them a longer time than what people would normally refer to as an “overnight success”. It took them two years of steady work before they paid themselves. Chris and his friends knew that they had the skill sets to bring in cash while their company was still starting out. So even if they thought about getting a bank loan to scale faster, they depended on their diligence to keep them afloat.
How do you decide if an idea is worth the effort or not?
Chris mentions that in deciding whether an idea is viable, it all comes down to numbers. He specifically talks about the conversion metrics paired with how much money it costs to get customers to the site when ads are run.
It’s all about your growth strategy. If there is positive growth, then that is something you would want to continue working on even if there isn’t a sale made every day. On the other hand, if you are on a sale plateau for too long, then that becomes an issue. You can either pivot your marketing strategy or put a little more effort into it, but if there is no more effort to be put in, then that can be your cue to stop.
Resources & People Mentioned
- Chris on LinkedIn: https://www.linkedin.com/in/cjmeade
- CROSSNET'S Website: https://www.crossnetgame.com/
- CROSSNET on Instagram: https://www.instagram.com/crossnetgame/
- CROSSNET on Facebook: https://www.facebook.com/crossnetgame
- CROSSNET on Twitter: https://twitter.com/crossnetgame
- CROSSNET on YouTube: https://www.youtube.com/channel/UC3_8Rgawrlg_YTqqN2rrsQw
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
Connect With James and Dean
James P. Friel:
- CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
- Facebook Group: https://www.facebook.com/groups/hustledetox/
- Site: www.jamespfriel.com
- Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
- Interested in being a guest on the show?
Dean Holland:
- Blog: www.DeanHolland.com
- FB Page: https://www.facebook.com/DeanHollandHQ
- Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/
Just The Tips Podcast:
- Facebook Page: https://www.facebook.com/justthetipsshow/
