Mechanical engineer Ace Shelander teamed-up with chemist Lilibel de la Puente to launch Beaker and Wrench, a company in Santa Monica, Calif. that makes specialty equipment for the cannabis industry. They began with a dosing pump for wiped film distillation and solving other problems that were “right in front” of them before moving into complete distillation systems. Their products were niche but had high value-adds and following that model has served the company well. Insights that Shelander shares include: -Growing a company slowly but methodically can allow your team to really dial-in a product and make it first in class in its category. -The downside of growing a company slowly and not taking on more problems is “leaving a lot on the table.” -It’s better to resist taking outside capital in turbulent times and wait for economic stability. -Planning a supply chain timeline and for supply chain issues will help your company being caught without necessary inputs. -Success rests on three things: Quality control, quality control, and quality control. -Successful hires are hires who are self-motivated and take pride in their work.  Who is Ace Shelander? Ace Shelander is CEO of Beaker and Wrench, a Santa Monica, Calif.-based company that he cofounded in 2016 and that develops and manufactures specialty equipment for the cannabis industry. A mechanical engineer by profession, Shelander has worked at Aperia Technologies focusing on tire inflation systems, and Ace Machine Design working on biotech sector filling machines and where he later served as CEO. He also built a robot for the TV series BattleBots.