Your hosts Shannon Jean and Dave Hamilton are traveling this week so we are bringing you one of our favorite episodes from 2017 with the owners of Tanglefree Waterfowl. There’s a lot to learn from this one!
What’s the best way to build your companies brand and create fans that are passionate about your products? Cory Fosket and Doug Butcher took a company focused on a single product line and expanded it over the last 13-years into a trusted brand for waterfowl hunters and outdoor enthusiasts. Along the way, they’ve learned about the importance of quality and how to step outside the business to plan 3-5 years ahead rather than just grinding it out day-after-day. Listen in to this episode of the Small Business Show to hear the Tanglefree story!
During our discussion today, we get some great tips on creating strong relationships with your customers as well as your overseas suppliers to create a win-win environment where your company and suppliers profit while the customer gets a great value, high quality product.
Cory and Doug spend some time discussing various measures of success and what means the most to each of them, as well as what they are doing to power through obstacles to propel Tanglefree into the future. We also learn about the pros and cons of selling to big-box retailers vs smaller stores and how to manage each different type of relationship. Finally, you’ll learn what to watch out for when developing products in China and how to create long term success with factory owners.
Join us today on the Small Business Show for these tips and more! Then, jump over to the Small Business Show Support group to discuss the show.
- 00:00:00 Best of Small Business Show #134 August 30, 2017
- 00:01:17 Duck season and Ducks Unlimited
- 00:01:24 Cory Fosket and Doug Butcher from Tanglefree Waterfowl Products
- 00:02:20 An Intentional Family Business
- 00:03:30 Acquire a minor line in someone else’s business and expand it
- 00:04:57 Expand the staff by bringing in more family
- 00:07:49 Building a brand in today’s world
- 00:10:28 Making brand engagement a daily focus
- 00:11:28 Relationships with Customers
- 00:13:40 Redefining a relationship ahead of its time
- 00:15:23 Favorite mistake: Not applying vision
- 00:16:38 The other favorite mistake: learning that quality is better than
- 00:19:04 Success metric: Brand Engagement
- 00:21:40 Look three-to-five years out
- 00:22:46 Focus on relationships
- 00:26:01 For a business relationship to work, both parties need to make money
- 00:29:45 Reward Quality Control
- 00:30:12 SBS Outtro