We Live to Build Build your $80M supplement brand with Ryan Niddel | WLTB Podcast #129
Ryan Niddel is the CEO of MIT45, an ecommerce brand that sold nearly $75M USD worth of Kratom products in 2022.
He’s also the President and CEO of South Sea Ventures, a private equity fund, and he sits on the board of directors for several other companies.
00:04 - Growing your company from 5 million to 80 million in gross revenue
03:08 - Entrepreneurial Journey: From Failure to Success with Kratom
06:07 - Risks and addiction potential of Kratom
09:10 - Transparency in Manufacturing with COAs and GMP Compliance
12:13 - Sterile Food Production and Consumer Trust
15:32 - Efficient Systems and Processes in Business Growth
18:27 - Tightening Credit Processes and the Importance of Accounting Principles
21:21 - Firing Gracefully and Understanding Employee Growth Goals
24:12 - Changing Out the CFO: How to Handle Transitions and Find Expertise for Growth
27:13 - Improving Culture and Operations to Drive Revenue Growth
30:05 - From Employee Training to Manufacturing Acquisitions
33:00 - The Four Aspects of Business Growth and Decentralization
35:51 - Making decisions without all the information
38:47 - The Diverse Perspectives of Partners in a Venture & Potential Exit Strategies
41:45 - Employee-Centric Business Model and Benefits
44:40 - Prioritizing Employee Health and Efficiency in the Workplace
50:12 - Alignment in Business and Life
53:07 - Traveling and Thinking Differently
56:09 - Following Ryan Niddel's Entrepreneurial Journey
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