Description
Join us as we sit down with Mike Beckham, the co-founder and CEO of Simple Modern, a company that has gone from challenger to incumbent in the drinkware industry with a unique blend of style, quality, and philanthropy. Mike shares his journey from the nonprofit world to building a $250M+ profitable business, emphasizing the importance of mission-driven entrepreneurship. Discover how Simple Modern's commitment to giving away 10% of their profits has not only shaped their company culture but also fueled their remarkable success. This episode is packed with insights on scaling, maintaining a strong organizational ethos, and the real meaning behind business excellence. Don’t miss out on this inspiring conversation that goes beyond business to explore deeper questions of purpose and impact.
Sponsors:
Ramp
IQBar - Amazon
Chapters:
00:00:00 - Scaling and Overstimulation 00:00:25 - Welcome to Eating Glass 00:02:45 - Introduction to Mike Beckham 00:03:45 - Nonprofit World Insights 00:05:45 - Business with Dual Purposes 00:07:45 - Impact of Previous Experiences 00:09:00 - Quality of Life Insights 00:11:00 - Money and Contentment 00:12:00 - Responsibility and Trade-offs 00:13:45 - Rapid Company Growth 00:16:00 - Working with Family 00:17:45 - Business Partnerships 00:19:00 - Product Longevity Surprises 00:21:15 - Breaking Growth Barriers 00:22:30 - Sales Channels Expansion 00:23:00 - Drinkware Market Fragmentation 00:24:45 - Fashion and Trends 00:25:45 - Domestic Manufacturing 00:26:15 - Oreo Principle 00:27:45 - Challenges of Growth 00:29:45 - Entrepreneurship Motivations 00:31:00 - Market Opportunities 00:33:45 - Customer Satisfaction 00:34:45 - Amazon Strategy 00:36:15 - Product Excellence 00:38:00 - Digital Tools Advantage 00:40:00 - Brand Evolution 00:42:00 - Pricing Strategy 00:43:00 - Operational Excellence 00:45:15 - Competitive Advantages 00:47:00 - Challenger Brand Strategies 00:49:00 - Value and Quality 00:51:00 - Growth and Inventory 00:53:00 - Product Trends 00:55:00 - Licensing and Customization 00:57:15 - Focus vs. Variety 00:58:45 - Scaling and Distribution 01:00:15 - Strategic Insights 01:02:15 - Direct Response Marketing 01:04:00 - Business Model and Philanthropy 01:07:00 - Motivating the Team 01:10:00 - Building Organizational Values 01:12:45 - Financial Discipline 01:15:00 - Banking Relationships 01:18:00 - Forecasting and Growth 01:20:00 - Collateral and Credit 01:22:45 - Rapid Fire Questions 01:24:15 - Entrepreneurial Truths 01:25:45 - Startup Myths 01:27:15 - Personal Value Proposition 01:28:45 - Biggest Mistakes 01:30:00 - Personal Life Impact 01:32:45 - Long-Term Impact 01:35:00 - External Validation 01:36:15 - Hiring Strategy 01:37:30 - Cultural and Character Moats 01:39:00 - Wrapping Up
ABOUT THE HOSTS:
Will Nitze is the Founder & CEO at IQBAR - America's leading "brain + body" nutrition startup. With minimal funding, Will has taken IQBAR from zero locations and zero in revenue in 2018 to 10,000+ doors and a projected $50 million in sales in 2024.
Joe Lemay founded Rocketbook with business partner Jake Epstein. After being featured on “Shark Tank”, where the sharks passed on a chance to invest – Joe would go on to grow Rocketbook and sell it to BIC for 40 million dollars just three years later.
Connect with Mike:
Website: https://www.mikebeckhamblog.com/X: https://x.com/mikebeckhamsm
Instagram: https://www.instagram.com/mikebeckham/
LinkedIn: https://www.linkedin.com/in/mikebeckhamsm/
We delve into the journey of Tom First, founder of Nantucket Nectars & Culture Pop. Discover the challenges and triumphs of building a beloved brand, the importance of authenticity in product development, and the lessons learned from navigating the beverage industry. Tom shares his...
Published 07/31/24
Joe and Will sit down with Peter Rahal, co-founder of RXBAR, to delve into his journey from a challenging school experience to creating one of the most iconic protein bars on the market. Peter shares how early adversity shaped his relentless drive, the innovative approach behind RXBAR's success,...
Published 06/26/24