Mike Tecku final appeared on this podcast in 2019. He spoke as an knowledgeable Amazon vendor in our “Constructing an Ecommerce Enterprise” collection. He is again, after promoting out these Amazon shops, retiring and bored.
His newest enterprise is Momentum, a maker of high-end dietary shakes, which he describes as “the Rolex of dietary supplements.”
He and I not too long ago chatted about his journey – promoting his companies, setting priorities, launching Momentum, and extra.
The total audio of our dialog is embedded beneath. The transcript is edited for readability and size.
Eric Bandholz: Why begin a dietary shake enterprise?
Mike Teku: I bought my Amazon firms in 2019 and did nicely sufficient to start out a enterprise capital fund and put money into some issues. I retired, purchased a bit of land within the countryside and rapidly bought bored. I spent the following two years understanding myself and researching longevity.
I got here up with this product based mostly on the premium variations of the dietary supplements I used to be taking. I contacted the producers immediately. I put it multi functional shake to make it straightforward. I needed to do the Rolex of dietary supplements and make it tremendous easy and superior. I named the corporate Momentum.
Bandholz: It is a crowded market, dietary supplements.
Teku: There’s a distinction between being efficient, true and sincere in relation to vogue. There’s a big debate between plant protein and whey protein – which is best and whether or not so as to add superfoods. A superfood is no matter a marketer desires to name tremendous. I name it pixie mud when firms add traces of one thing to make it wholesome. I did not need any advertising gibberish, simply one of the best substances.
We opted for this superb grass-fed whey protein from Eire. It’s 5 occasions dearer than every other protein. Eire is the one place the place this herb may be grown all yr spherical. And it is the one place you may certify that one thing is really grass-fed. This makes it a premium product.
Some individuals like pea protein, the vegetable, however it accommodates heavy metals and pesticides and 30% much less important amino acids. I wasn’t prepared to compromise simply because it was widespread.
Not utilizing synthetic flavors is extremely costly. Every bag now we have accommodates about $2 value of chocolate. We spend extra on chocolate than most opponents spend on their total product. So a 30-day provide of a Tremendous Greens drink can value between $2 and $3 to make. A month-to-month provide of ours prices us $60. My philosophy is that it’s a lot simpler to compete on the prime of a market as a result of few are prepared to take action.
The problem is to promote a $75 bag if it prices $60 to make. How can we pay for ads? I consider the product will likely be so good that we can’t must spend a lot on phrase of mouth advertising. We cannot have as many unsubscribes. In idea, individuals will keep subscribed longer.
I am not concerned with something that may’t evolve. Momentum might very simply herald $100 million a yr. To get to that stage, I want about 60,000 subscribers. This represents 60,000 gross sales over 5 years – 12,000 per yr. It is doable with a fantastic product and the suitable value and message. I do not need to do something with a ceiling.
Bandholz: Do you promote on Amazon?
Teku: No, however we are going to ultimately. Customers are very value delicate on Amazon, which requires training. As soon as individuals acknowledge the Momentum model and look to purchase it on Amazon, we’ll have it on the market there. However for now, I will deal with issues like this podcast to assist customers perceive what it is all about.
Bandholz: I would hesitate to pay $75 per bag.
Teku: It is my job to speak that if you happen to have been to purchase all of those substances individually, it might be round $400 monthly. And that by eradicating the intermediary out of 20 substances, I can cost $75 a bag. And the margins will not be actually good for me. So it would take some training.
Meals is troublesome. I constructed Momentum Shake across the idea that almost all people are poor of their weight loss plan. Our physique declines with age. Momentum replaces the issues we lose over time.
We do not have secret drugs or medication. These are simply the issues our our bodies want each day. Folks do not need to take tens of millions of drugs.
Bandholz: The place can listeners discover you?
#Rolex #dietary #dietary supplements