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Mike Tecku final appeared on this podcast in 2019. He spoke as an professional Amazon vendor in our “Constructing an Ecommerce Enterprise” collection. He’s again, having bought these Amazon shops, retiring, and turning into bored.
His newest enterprise is Momentum, a maker of premium dietary shakes, which he describes as “the Rolex of dietary supplements.”
He and I not too long ago mentioned his journey — promoting his corporations, setting priorities, launching Momentum, and extra.
The complete audio of our dialog is embedded beneath. The transcript is edited for readability and size.
Eric Bandholz: Why begin a dietary shake firm?
Mike Tecku: I bought my Amazon companies in 2019 and did properly sufficient to start out a enterprise fund and put money into some stuff. I retired, purchased land within the nation, and rapidly obtained bored. I spent the subsequent two years figuring myself out and researching longevity.
I got here up with this product primarily based on the premium variations of the dietary supplements I used to be taking. I related immediately with the producers. I put every part into one shake to make it straightforward. I wished to make the Rolex of dietary supplements and make it tremendous easy and superior. I named the corporate Momentum.
Bandholz: It’s a crowded market, dietary supplements.
Tecku: There’s a distinction between being efficient, true, and trustworthy versus stylish. There’s an enormous debate between plant-based and whey protein — which is healthier and whether or not so as to add superfoods. A superfood is something a marketer needs to name tremendous. I name it pixie mud when corporations add hint quantities of one thing to make it sound wholesome. I wished no advertising fluff, solely the most effective components.
We went with this unimaginable grass-fed whey protein from Eire. It’s 5 instances costlier than every other protein. Eire is the one place that may develop that grass year-round. And it’s the one place you may certify that one thing is really grass-fed. It makes for a premium product.
Some people like protein from peas, the vegetable, nevertheless it comprises heavy metals and pesticides and 30% fewer important amino acids. I wasn’t prepared to compromise simply because it was fashionable.
Not utilizing synthetic flavors is insanely costly. Each bag we’ve got has about $2 value of chocolate in it. We spend extra on chocolate than most opponents spend on their whole product. So a 30-day provide of a Tremendous Greens drink may cost a little $2 to $3 to make. A month-to-month provide of ours prices us $60. My philosophy is it’s a lot simpler to compete on the prime of a market as a result of few are prepared to do it.
The problem is promoting a bag for $75 if it prices $60 to make. How can we pay for advertisements? I imagine the product can be so good we received’t must spend as a lot on advertising due to phrase of mouth. We received’t have as a lot churn. In concept, people will stay subscribers longer.
I’m not excited by something that may’t scale. Momentum might very simply do $100 million a yr. To get to that degree, I would like about 60,000 subscribers. That’s 60,000 gross sales over 5 years — 12,000 a yr. That’s doable with a fantastic product and the fitting worth and message. I don’t wish to do something with a ceiling on it.
Bandholz: Are you promoting on Amazon?
Tecku: No, however we are going to ultimately. Customers are very worth delicate on Amazon, which requires training. As soon as people acknowledge the model Momentum and look to purchase it on Amazon, we’ll have it on the market there. However for now, I’ll concentrate on issues like this podcast to assist customers perceive what it’s about.
Bandholz: I would hesitate to pay $75 per bag.
Tecku: It’s my job to speak that when you had been to purchase all these components individually, it’d be about $400 a month. And that by eradicating the intermediary on 20 components, I can cost $75 a bag. And the margins aren’t really that nice for me. So it’ll take some training.
Vitamin is tough. I constructed Momentum Shake across the idea that almost all people are poor of their diets. Our our bodies decline as we age. Momentum replaces the issues we lose over time.
We have now no secret drugs or medicine. It’s simply the issues that our our bodies want each day. People don’t wish to take a gazillion drugs.
Bandholz: The place can listeners discover you?
Tecku: They’ll purchase our product at MomentumShake.com. I’m on LinkedIn and e-mail at mike@momentumshake.com. I like mentoring, by the best way.
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