Mike Tecku first appeared on this podcast in 2019 as an Amazon market vendor. Shortly afterward, he offered that enterprise, a maker of floormats. He retired, turned bored, and in 2022 launched Momentum, a direct-to-consumer dietary shake producer. He and I mentioned that enterprise final yr in his second look.
He’s again. Momentum Shake is flourishing, as is Tecku. He’s developed from the nuts and bolts of earning profits to attaining a objective, constructing a workforce, and self-improvement. “If I’m not rising, I’m dying,” he informed me.
Our total audio dialog is embedded under. The transcript is edited for size and readability.
Eric Bandholz: Your entrepreneurial journey is spectacular.
Mike Tecku: Development offers me that means and a way of being alive. If I’m not rising, I’m dying. The American dream of not having to do something runs counter to human nature. When I retired, I received good at golf. I learn many books however couldn’t shake the urge to unravel issues. I’d be in a retailer and suppose, “That is an attention-grabbing product. I ponder if I might make this.”
I received depressed once I wasn’t engaged on something. I might really feel myself shrinking. A couple of yr into that, I made a decision I wanted to re-embrace being an entrepreneur. That’s simply who I’m. These are my items. I wished to make use of my items and strengths, and now I had the privilege of utilizing them in a means that I wished, not simply to outlive or become profitable.
The world is consistently altering. To make one thing good is inconceivable, however you possibly can pursue it by regularly adjusting. The farther you get alongside, the extra exact the vacation spot is, and the extra attuned you might be to your objective. You achieve data and make higher choices. If you’re actually into one thing, you’re regularly rising and perfecting your artwork.
Bandholz: How does an organization attempt for perfection?
Tecku: You could develop belief along with your prospects so that they know you have got their greatest curiosity at coronary heart. If we modify the flavoring of our shakes, prospects fear we’re making it cheaper when the fact is the alternative. You have to be clear with prospects and talk that you simply wish to add extra worth with out rising their prices. It’s important to zoom out past provide and demand. What benefit are you able to convey to the market apart from making extra money?
I wish to produce a product 10 instances higher than all people for a similar worth. Most companies are simply media and advertising platforms. They don’t contact the product. In the event that they’re doing something in any respect, they’re promoting commodities. I wish to make one thing that could be a masterpiece and stacks a lot worth into it.
That wasn’t taking place with our outsourced producer. I like these individuals, however they will’t innovate on the velocity I need. I can minimize prices by 30% once I take over manufacturing. I can shrink money movement, improve amount, cut back prices, and enhance high quality. The one means to do this is thru proudly owning the manufacturing course of.
Bandholz: What are the pitfalls of in-house manufacturing?
Tecku: Step one is believing it’s doable. I spent 10 years pondering manufacturing was difficult and past my experience. However I needed to begin questioning myself. Why can’t I assemble a workforce of clever, hardworking people? Why can’t I remedy these issues?
The objective is to make manufacturing straightforward. If I can construct one thing easy and scalable, it is going to be safer and dependable. I wish to forecast 5 to seven years down the highway. What are my targets? I wish to scale to 100 million {dollars}. What does that appear to be within the variety of items I have to make a day and the machines able to that?
I’m shopping for machines to simplify and cut back the possibility of error. We are able to’t remove errors, however we will streamline processes, steps, and inputs. The machines I’m shopping for ought to have the ability to make a thousand luggage an hour with one worker. That’s a scalable system.
Bandholz: You’ve got a single SKU incomes hundreds of {dollars} month-to-month. You’re not touching it. There’s magnificence in that.
Tecku: It’s stunning as a result of it frees me for development and enchancment. Recall the outdated phrase, “Work on what you are promoting, not in it.” That may’t change. It’s important to be on prime trying on the items. My job is decision-making. I need two hours of hyper-focused pondering day by day.
Continuously executing is just not the perfect use of my expertise. Some persons are means higher at it. I take into account all parts of the enterprise to be property. The manufacturing facility I’ve been constructing for the final six months is an asset. I need it to run completely with out me. That includes the machines, the house, the workforce — each determination.
Bandholz: I battle with shifting from the execution position into technique and decision-making.
Tecku: I attempt to examine with my workforce to see in the event that they want one thing from me. I’ve to remind myself that is what they’re good at and that they respect my belief in them. If you wish to create unbiased individuals who suppose for themselves, you must allow them to fail. My job is to find out the subsequent step. There’s no proper path. It requires a number of strolling round, studying books, speaking to of us, and paying consideration.
Bandholz: The place can of us observe you?
Tecku: Our website is MomentumShake.com. I’m on LinkedIn.
