#350 - Mike Beckham - Co-Founder & CEO @ Simple Modern - A Former Pastor Built One Of The Fastest Growing E-Commerce Businesses In The US
Description
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
https://www.thefortpod.com/survey
Links
Topics
(00:00:00 ) - Intro
(00:03:48 ) - Starting Simple Modern
(00:15:46 ) - How much thought do you need to put into a product as simple as a cup?
(00:17:51 ) - The Stanley Phenomenon
(00:22:06 ) - Influencer marketing
(00:24:15 ) - The pros of hiring your friends
(00:33:21 ) - Learnings from spending 10 years as a pastor
(00:43:43 ) - Hypergrowth
(00:48:05 ) - AI
(00:55:23 ) - Product Licensing
(01:04:00 ) - Building moats
(01:09:07 ) - Does Amazon take more and more margin out of products as you grow?
(01:18:35 ) - Becoming an ESOP
(01:27:01 ) - Offshoring and China
(01:34:22 ) - What are some disadvantages to selling online?
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