He Runs A 7-Figure Brand As A Side Gig (With 6 Kids)

The episode explores the unique business model of Modern Fuel, a pen manufacturer, run by Matt Slykhuis as a "side gig." Matt discusses his decision to insource the manufacturing process, bringing CNC machining in-house to gain greater control over quality and reduce supply chain risks. He details the financial implications of this CapEx-heavy approach, balancing profitability with investments in equipment and new product development. Matt aims for sustainable growth, prioritizing stability and family involvement over hyper-growth, with a revenue target of $2-3 million. The conversation also covers strategies for growth, including creative advertising, product expansion, and storytelling that emphasizes craftsmanship and the heirloom quality of Modern Fuel pens.

Outlines

Part 1: Acquisition, Vision, and Manufacturing

Part 2: Financial Strategy and Operational Efficiency

Part 3: Growth, Marketing, and Team Building

Part 4: Industry Trends and Future Outlook

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The Andrew Faris Podcast

Part 1: Acquisition, Vision, and Manufacturing

Modern Fuel's Acquisition and Matt Slykhuis's Vision for the Brand

In-House Manufacturing: Gaining Control Over Quality and Strategic Advantage

Part 2: Financial Strategy and Operational Efficiency

Balancing CapEx Investment and Profitability in a Niche E-Commerce Brand

SDE, Craftsmanship, and the Satisfaction of Hands-On E-Commerce

Margin Improvement Through Insourcing and Strategic Pricing

Financing Growth Through Machine Tool Sales and Long-Term Family Involvement

Part 3: Growth, Marketing, and Team Building

Balancing Hands-On Involvement with Outsourcing for Sustainable Growth

Revenue Goals, Growth Strategies, and the Power of Storytelling

Craftsmanship, Storytelling, and the Luxury Pen Market

Leveraging Past Testing and Building a Strategic Team

Overseas Talent, Supply Chain Optimization, and In-House Fulfillment

Part 4: Industry Trends and Future Outlook

Trends in Consumerism and the Potential for American Manufacturing

Monetizing Skills and De-Risking the Business

Podcast Updates, Resources, and Sponsor Thanks

He Runs A 7-Figure Brand As A Side Gig (With 6 Kids)

The Andrew Faris Podcast

Part 1: Acquisition, Vision, and Manufacturing

00:00Modern Fuel's Acquisition and Matt Slykhuis's Vision for the Brand

Modern Fuel's Acquisition and Matt Slykhuis's Vision for the Brand

01:18In-House Manufacturing: Gaining Control Over Quality and Strategic Advantage

In-House Manufacturing: Gaining Control Over Quality and Strategic Advantage

Part 2: Financial Strategy and Operational Efficiency

05:28Balancing CapEx Investment and Profitability in a Niche E-Commerce Brand

Balancing CapEx Investment and Profitability in a Niche E-Commerce Brand

09:06SDE, Craftsmanship, and the Satisfaction of Hands-On E-Commerce

SDE, Craftsmanship, and the Satisfaction of Hands-On E-Commerce

12:44Margin Improvement Through Insourcing and Strategic Pricing

Margin Improvement Through Insourcing and Strategic Pricing

17:12Financing Growth Through Machine Tool Sales and Long-Term Family Involvement

Financing Growth Through Machine Tool Sales and Long-Term Family Involvement

Part 3: Growth, Marketing, and Team Building

20:23Balancing Hands-On Involvement with Outsourcing for Sustainable Growth

Balancing Hands-On Involvement with Outsourcing for Sustainable Growth

23:43Revenue Goals, Growth Strategies, and the Power of Storytelling

Revenue Goals, Growth Strategies, and the Power of Storytelling

27:34Craftsmanship, Storytelling, and the Luxury Pen Market

Craftsmanship, Storytelling, and the Luxury Pen Market

33:10Leveraging Past Testing and Building a Strategic Team

Leveraging Past Testing and Building a Strategic Team

35:15Overseas Talent, Supply Chain Optimization, and In-House Fulfillment

Overseas Talent, Supply Chain Optimization, and In-House Fulfillment

Part 4: Industry Trends and Future Outlook

38:04Trends in Consumerism and the Potential for American Manufacturing

Trends in Consumerism and the Potential for American Manufacturing

42:20Monetizing Skills and De-Risking the Business

Monetizing Skills and De-Risking the Business

45:17Podcast Updates, Resources, and Sponsor Thanks

Podcast Updates, Resources, and Sponsor Thanks