Mike Beckham is co-founder and Chief Executive Officer of Simple Modern, a leading producer of premium drinkware and lifestyle products. Founded in 2015 and based in Oklahoma, SimpleModern currently generates a nine-figure annual revenue and is committed to generosity, donating at least 10% of annual profits to nonprofit organizations. Under Mike’s leadership, the company has grown into a category leader for Amazon, Target, Walmart, and Sam’s Club.
We discuss:
- Building Simple Modern during the peak of Yeti’s domination
- Hypergrowth strategies and living in a future with AI
- The power of product licensing and building moats
- The disadvantages of selling products online
Links:
Simple Modern - https://www.simplemodern.com/
Mike on X - https://twitter.com/mikebeckhamsm
Topics:
00:00:00 - Intro
00:00:54 - Starting Simple Modern
00:12:58 - How much thought do you need to put into a product as simple as a cup?
00:15:40 - The Stanley Phenomenon
00:19:56 - Influencer marketing
00:21:47 - The pros of hiring your friends
00:31:02 - Learnings from spending 10 years as a pastor
00:41:42 - Hypergrowth
00:46:13 - AI
00:53:10 - Product Licensing
01:02:19 - Building moats
01:07:38 - Does Amazon take more and more margin out of products as you grow?
01:17:13 - Becoming an ESOP
01:25:41 - Offshoring and China
01:33:11 - What are some disadvantages to selling online?
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