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, grew to become 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 making a living to attaining a objective, constructing a staff, and self-improvement. “If I’m not rising, I’m dying,” he advised me.
Our whole audio dialog is embedded beneath. 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 acquired good at golf. I learn many books however couldn’t shake the urge to unravel issues. I’d be in a retailer and assume, “That is an attention-grabbing product. I ponder if I might make this.”
I acquired depressed once I wasn’t engaged on something. I might really feel myself shrinking. A few yr into that, I made a decision I wanted to re-embrace being an entrepreneur. That’s simply who I’m. These are my presents. I wished to make use of my presents and strengths, and now I had the privilege of utilizing them in a method that I wished, not simply to outlive or become profitable.
The world is consistently altering. To make one thing excellent is unimaginable, however you’ll be able to pursue it by frequently adjusting. The farther you get alongside, the extra exact the vacation spot is, and the extra attuned you might be to your purpose. You acquire data and make higher choices. If you’re actually into one thing, you’re frequently rising and perfecting your artwork.
Bandholz: How does an organization try for perfection?
Tecku: It’s essential to develop belief along with your prospects in order that they know you’ve gotten their finest curiosity at coronary heart. If we alter the flavoring of our shakes, prospects fear we’re making it cheaper when the truth is the alternative. You should be clear with prospects and talk that you just wish to add extra worth with out growing their prices. It’s important to zoom out past provide and demand. What benefit are you able to carry to the market in addition to making extra money?
I wish to produce a product 10 occasions higher than everyone for a similar value. Most companies are simply media and advertising and marketing 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 occurring with our outsourced producer. I really like these individuals, however they will’t innovate on the pace I would like. I can minimize prices by 30% once I take over manufacturing. I can shrink money circulation, improve amount, cut back prices, and enhance high quality. The one method 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 sophisticated and past my experience. However I needed to begin questioning myself. Why can’t I assemble a staff of clever, hardworking people? Why can’t I clear up these issues?
The purpose is to make manufacturing straightforward. If I can construct one thing easy and scalable, it will likely be safer and dependable. I prefer to forecast 5 to seven years down the street. What are my targets? I wish to scale to 100 million {dollars}. What does that seem like 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 prospect of error. We are able to’t get rid of errors, however we are able to streamline processes, steps, and inputs. The machines I’m shopping for ought to have the ability to make a thousand baggage an hour with one worker. That’s a scalable system.
Bandholz: You’ve a single SKU incomes 1000’s of {dollars} month-to-month. You’re not touching it. There’s magnificence in that.
Tecku: It’s lovely as a result of it frees me for progress and enchancment. Recall the previous phrase, “Work on your enterprise, not in it.” That may’t change. You need to be on prime wanting on the items. My job is decision-making. I would like two hours of hyper-focused pondering daily.
Always executing will not be the very best use of my abilities. Some persons are method higher at it. I think about all parts of the enterprise to be belongings. The manufacturing facility I’ve been constructing for the final six months is an asset. I would like it to run completely with out me. That includes the machines, the house, the staff — each resolution.
Bandholz: I battle with shifting from the execution position into technique and decision-making.
Tecku: I attempt to verify with my staff 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 recognize my belief in them. If you wish to create unbiased individuals who assume for themselves, it’s a must to allow them to fail. My job is to find out the subsequent step. There’s no proper path. It requires quite a lot of strolling round, studying books, speaking to people, and paying consideration.
Bandholz: The place can people comply with you?
Tecku: Our web site is MomentumShake.com. I’m on LinkedIn.
