Ep 155: Lokai with Steven Izen
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Ep 155: Lokai with Steven Izen
Episode 155: Show Notes
Today’s guest, Steve Izen, is a true inspiration who made his mark on the world by getting everyone around him to follow in his steps and embrace the idea of impermanence.
After hearing of his grandfather’s Alzheimer’s diagnosis, Steve began to toil with the idea of how we are all constantly experiencing highs and lows and the aim is for us to find balance.
That seed grew into his company Lokai, a bracelet brand that combines actual water from Mount Everest with actual water from the Dead Sea (the highest and lowest points in the world) to preach the word that life is ever-changing, and one should always seek internal peace and balance in an otherwise chaotic world.
We talk about how Steve’s idea of success has changed from when he was younger to now, how he thought up Lokai, why many retailers rejected Lokai at the start, and how word-of-mouth was crucial to Lokai’s success. We explore the value of community, Steve’s hiring process and Lokai’s manufacturing process, why Steve prioritizes family and friends over everything else, and the ins and outs of the other company he founded, Elements of Balance.
Steve truly is an example of how to work hard, earn well, and give money to charity and time to the people you love. You do not want to miss this remarkable conversation!
Key Points From This Episode:
Welcoming the incredible Steven Izen, as he explains his childhood love of sports.
The lessons he learned as a child that he still carries with him today.
Exploring Steven’s relationship with his grandfather.
His idea of success when he was much younger, and his early entrepreneurial ventures.
What he learned from his high school and college sports coaches, and why he chose Cornell.
How the news of his grandfather’s Alzheimer’s diagnosis inspired the creation of Lokai.
The moment the Lokai idea landed, why he chose bracelets, and the initial responses to his idea.
How the Lokai story formed organically, and how he chose the name.
The way Steve financed Lokai in the early days, and discussing his first business trip to China.
His initial Lokai pitch that many rejected and how responses to it evolved over time.
What it was like when he first saw someone wearing a Lokai bracelet.
How word-of-mouth was key in Lokai’s success, and why it matters for a business’s prosperity.
The way relationships that you build in college can impact your future business dealings.
Why some retailers initially rejected Lokai, and why micromanaging hints at inexperience.
Steve’s hiring process, and his inspired idea to start working with influencers before the word even existed.
Why being part of a community is important for building brand awareness.
Some details on Lokai’s manufacturing process, and how to become part of the community.
How Steve knew that his wife was the one, and how he schedules time with his family.
Taking a look at Steve’s other company, Elements of Balance.
Assessing Steve’s mental state in the throngs of running two businesses.
His current view of success, and his advice to his younger self.
Tweetables:
“You learn a lot by seeing what your parents do more than [hearing] what they say.” — @StevenIzen [08:11]
“I was the kid with the lemonade stands. I was always trying to hustle and make some money one way or another.” — @StevenIzen [11:16]
“Every day is a reminder to find balance in life; staying humble when you're on top of the world and hopeful when you've hit a low. That was the seed that developed into Lokai.” — @StevenIzen [16:52]
“One of the most powerful things that it takes for a company to be successful is [that] the product has to speak for itself. People need to buy it without being forced upon buying it. And word of mouth. It needs to be word of mouth where people want to tell others about it.” — @StevenIzen [29:34]
“Cultural fit is probably the most underrated quality of what you look for in a candidate. Someone who is not a cultural fit can be a disaster to the rest of the organization.” — @StevenIzen [36:52]
“I think we're an emotional company, an emotional product, and have an emotional community. I think we have 50 to 100 people with Lokai tattoos. It has a deep impact on people and their own personal stories.” — @StevenIzen [41:06]
“I've always chased financial success. That being said, I know deep down that if I'm not a great father and a great husband and a great friend, no amount of financial wealth will make me a successful person. So I always prioritize my family and my friends above anything else.” — @StevenIzen [45:21]
Links Mentioned in Today’s Episode: