Ep. 136 – Alan and Mark Baumgarten of PRO-Hydro Beverages, Part 5

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SIBP-Blog-NEW-5Starting a business is always tricky. Launching a company in a completely new market niche is even trickier. But starting a business with family? That can be one of the riskiest moves of all. Unless you’re the Baumgarten brothers. Even before they launched PRO-Hydro Beverages, Mark and Alan have been looking for a way to work together.

In this final interview installment, host and business coach Tom Ryan talks to the Baumgarten brothers about anticipating the competition, managing their brand, and maintaining a healthy work/life balance. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

The Profitable Mindset, Part 4: Don’t Bet Your Business On Home Runs

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Source image: https://www.flickr.com/photos/roncantrell/

Source image: https://www.flickr.com/photos/roncantrell/

In the world of baseball, power hitters are usually the most exciting players to watch. These are the guys that can knock the ball out of the park, creating those iconic, inspirational and game-changing moments. The power hitters are usually remembered as heroes, wowing the stadium crowds and living on for decades in the highlight reels.

But here’s the thing about those big home run hitters: They usually have a high strikeout percentage, too. In fact, those epic homers rarely decide a game. It’s the less-than-thrilling base hits that put runs on the scoreboard. Continue reading →

Ep. 135 – Alan and Mark Baumgarten of PRO-Hydro Beverages, Part 4

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SIBP-Blog-NEW-2Breaking into the health market is one thing, but could a company like PRO-Hydro Beverages actually find customers in Coca-Cola’s demographic? With generational shifts away from carbonated, sugary beverages and vitamin-enhanced flavored water drinks on the rise, it’s not outside the realm of possibility. What is the H2Pro go-to-market strategy, and how will their soon-to-launch “2.0” distribution model expand their market reach”

In this episode, host and business coach Tom Ryan talks to the Baumgarten brothers about the perils and appeal of today’s fizzy drinks, their take on the lean startup approach, and the lessons learned from Dollar Shave Club’s market disruption. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 134 – Alan and Mark Baumgarten of PRO-Hydro Beverages, Part 3

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h2pro-box-paired-smWith established players already staking out their turf in the probiotics market, a small startup like PRO-Hydro Beverages needs an edge to establish their niche. What’s their unfair advantage over the mainstream pill-makers and national brand yogurt peddlers? Expertise and reputation. Not only is company founder Dr. Alan Baumgarten an established family doctor, he also began his career as a public health nutritionist and registered dietitian.

In this episode, host and business coach Tom Ryan talks to the Baumgarten brothers about the ways consumers will use their products, as well as competitive landscape H2Pro has become a part of. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

The Profitable Mindset, Part 3: Forecast and Verify Performance

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SIBP-Blog-NEW-B-5During my time as a business coach, I’ve made it a point to talk about the importance of sales. Not just the act of meeting with a prospect and finding ways to align their interest with your products or services — although that is a huge part of the job — but also developing the processes that make up the business sides of sales. Without these core competencies, you can’t create those measurable and predictable results that are so key to consistently generating profits.

The more accurately you can measure your sales performance, the easier it becomes to both forecast future results and verify your current trajectory. To do this, you not only need a method for reliably generating that data, you also need a dashboard of some kind to help you make sense of it. Continue reading →

Ep. 133 – Alan and Mark Baumgarten of PRO-Hydro Beverages, Part 2

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SIBP-Blog-NEW-4Running as business wasn’t an entirely foreign experience for Dr. Alan Baumgarten. As a managing partner at a family medical practice, he had a solid grasp on the basics of running a successful company. Or at least he thought he did. As it turns out, building a new, consumer-product focused involves plenty of unexpected roadblocks and challenges.

In this episode, host and business coach Tom Ryan talks to the Baumgarten brothers about the challenges of building a health-focused startup from the ground up. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 132 – Alan and Mark Baumgarten of PRO-Hydro Beverages, Part 1

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Dr. Alan Baumgarten

Dr. Alan Baumgarten

As a managing partner at his family medicine practice, Dr. Alan Baumgarten didn’t exactly need a second job. As a strong advocate for probiotics, however, he found the lack of quality products on the market frustrating. Not only was there an opportunity to help people become healthier, there was also a great niche for a new business. Together with his brother Mark, Dr. Baumgarten founded PRO-Hydro Beverages, makers of the H2Pro line of probiotics and vitamin supplements. They’re also members of the Kauffman Foundation Entrepreneur In Residence program.

In this episode, host and business coach Tom Ryan talks to the Baumgarten brothers about their backgrounds and the origin of the PRO-Hydro concept. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

The Profitable Mindset, Part 2: Bootstrap For As Long As Possible

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SIBP-Blog-NEW-B-3“Bootstrapping” is a term that gets tossed around a lot in startup and investment circles. The idea of “pulling yourself up by your own bootstraps” is familiar to most people as a metaphor for creating your own success, but what does it actually mean in a business context? Exactly what you would expect, actually.

When a company starts out with very little financial capital or other resources, it has to get creative to stay in the game. That means pinching pennies, taking a conservative attitude towards any additional expense, finding other kinds of resources to use without spending a bunch of money. That’s the bootstrap mindset. Continue reading →

Ep. 131 – Frequently Asked Questions From Investors (and What They Mean) Part 1

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SIBP-Blog-NEW-1Now that you’ve delivered a knock-out power pitch to investors, you might think that the hard part of the job is done. Not quite. Now it’s time for your would-be investors to put your business plans to the test. Are you ready for the Q&A section of the presentation?

In this episode, host and business coach Tom Ryan talks about the most common questions potential investors will ask following your pitch. He’s joined by co-host and producer Jason Pyles, and special guest (and podcast editor) Natalie Pyles. Continue reading →

The Profitable Mindset, Part 1: Creating A Clear Path To Profitability

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SIBP-Blog-NEW-B-5Profits are pretty simple to understand. It’s just revenue minus expenses. If you make a lot of sales and manage your expenses well, your business will be profitable. So why do so many entrepreneurs struggle when it comes to creating profitable businesses?

To start a successful business, you need to have a really solid understanding of how your business is going to make money. This means constructing and stress-testing your business model from a profit-focused perspective. Here’s something you might not realize: Most entrepreneurs never bother to do this. Continue reading →