From the Top: How Skratch Labs was built
So many of the businesses we’ve discovered in this show have been ‘happy accidents’, so to speak, and Skratch Labs embodies that very same organic-build-and-hustling spirit as many others.
Skratch was founded by two longtime friends, Dr Allan Lim and Ian McGregor, who were both sidelined from the sport at the time. They both described themselves as initially too ‘lazy’ to actually sell the ‘secret drink mix’ they were making for pro cycling teams at the time. But as one thing led to another, they found themselves in their kitchens making their products, mixing drink powders in paint shakers, and throwing pizza and beer parties with their friends to fulfil orders.
In an absolutely crowded market for nutritional products, these two, with no business experience, were able to work their way up to become one of the biggest little brands in the sports nutrition world.
I learned a few things from Allan and Ian in this episode:
1. If you have a product that people love and they’re willing to pay money for it, there’s probably a business there worth exploring – no matter how crowded the market is. With hard work and having a clear understanding of where you fit into that market, there’s likely to be room for you.
2. There’s a lot of value in deciding what you want out of the business in the long-term and being comfortable with that. Many entrepreneurs get caught up with trying to be the biggest and hiring the most employees. There’s nothing wrong with that, but equally so, working hard at being small is just as admirable, and often more fulfilling.
I hope you enjoy listening to this episode as much as I enjoyed bringing it together.