007: Meg and Matt Meyer, Founders of The Bear and The Rat
The Bear & The Rat is the “Ben & Jerry’s” of doggie frozen treats. Made in the Rocky Mountains with billions of probiotics per cup and high-quality ingredients.
On Today’s show Matt & Meg will share:
– What’s Your Personal Mission Statement?
Meg’s personal mission statement is usually something along the lines of, The Early Bird Gets The Worm. But 2014 specifically is all about the attack. We’ve got big expansion plans and are serious about getting out there and getting the job done.
– Biggest Business Mistake?
Jumping too quickly into action. Sometimes it is better to research and watch before pouncing – something that Matt reminds Meg of more often than not. We jumped too quickly into exhibiting at a natural tradeshow, thinking it would be the answer to growing distribution and it ended up sucking lots of money from us and not producing the ROI we needed. We did something similar with a new co-packer after our old co-packer could not produce product for us any longer and it turned out to be the wrong direction for us to go.
– How Do You Handle Business Stress and Uncertainty?
Meg used to worry a lot (still does) but I’m trying to grow from experience. I’ve recently joined a choir, which has helped put my life into more of a balance as it’s a two time per week commitment.
– Greatest Business Decision That Changed Everything?
Still up in the air but I strongly believe that we’re in our Big Turning Point right now. We’re going to be private labeling product for a boarding facility that has 130 locations. The product’s right. The placement’s right. The pricing’s right. And we’ll offer promotions, so on paper, it’s a marketing 101 win. We shall see. We are going to put a great deal of effort into nailing the opportunity.
In addition, we are launching single serve cup packs (4 to a pack) this spring. We believe that velocity will greatly improve, which will lead to stronger sales and stronger accounts, which hopefully means more opportunities!
– Best Book For The Entrepreneurial Mindset?
I don’t sit around reading books about being an entrepreneur. Ha! I could recite the ones that I often hear, but in order to be authentic, the most inspired I’ve been as of late has been from a television series, not a book. It’s Netflix’s original series, Lilyhammer. I say this very tongue and cheek of course. It’s a fish out of water story about a gangster who moves to Norway via the witness protection program. As an entrepreneur, we often feel very much like a fish out of water. Our resources limited…sailing uncharted waters. The inspiration comes from how he ATTACKS every situation. He finds a way to solve all of the problems that come up. Obviously in a gangster way of course – not saying I’m for that. But there’s a lot we can learn from Johnny!
– Plus much more…