Everybody knows that company culture is important, but that’s a lot different from actually building a culture that sticks, makes your business better, and gives your employees a sense of mission. How can you build a meaningful and deep-rooted company culture that will also make your business stronger and more successful? Mike Beckham, the co-founder, and CEO of Simple Modern has created one of the most successful drinkware companies on the planet while also fostering a mission-based culture. In this episode of Let’s Talk Business, Meny asks Mike about the secrets of his success, the ways we can all inculcate a positive and productive culture in our companies, what entrepreneurs need to look at when trying to start a company, and much more.
[00:01 – 14:45] Opening Segment
• Mike shares his backstory and career path leading up to founding the company – Simple Modern
• The importance of a company’s mission is something that is often overlooked but is essential in order for it to be successful
Mission-driven companies are more beneficial to society than those without a sense of purpose
• It is the leader’s responsibility to create an environment in which their team can thrive and achieve their goals
[14:46 – 29:44] How to Create a Culture that’s Idealistic & Practical
• Diversity is good when it comes to having different perspectives and skill sets, but can be unhelpful when values are different
• A company with shared values and a shared mission will be stronger than one with diverse values or no values at all
Having core values and focusing on a mission helps to create a culture that is self-fulfilling and attracts employees who share those values
• Why a company’s culture cannot be created without deep convictions from the leader about what they believe in
• How Simple Modern uses transparency to attract and retain ton talent
[29:45 – 44:32] Transparent Leaders Build Trust
• Transparency is the exercise of allowing other people to see what you’re thinking
• When you build a culture where both relationally and organizationally, people are transparent, trust is fostered
Leaders should be transparent about their weaknesses and get feedback from team members to improve
• The mindset for a startup entering a new market is to look at the best players in the space
See where players may be white space that they can enter
[44:33 – 1:00:50] Closing Segment
• How to create a long-term sustainable competitive advantage
• Mike on the rapid-four questions
• Q&A: How can I figure out the best way to use the money to maximize its effect on growing my business?
Mike Beckham is co-founder and Chief Executive Officer of Simple Modern, a leading producer of premium drinkware and lifestyle products. Founded in 2015 and based in Oklahoma, Simple Modern currently generates a nine-figure annual revenue and is committed to generosity, donating at least 10% of annual profits to nonprofit organizations. Under Mike’s leadership, the company has grown into a category leader for Amazon, Target, and Sam’s Club. In addition, Simple Modern launched in Walmart stores nationwide in spring 2022.
Prior to founding Simple Modern, Mike spent over a decade working for the worldwide Christian ministry CRU. Equipped with a deep understanding of the nonprofit sector, Mike transitioned into the business world and helped found and operate several e-commerce businesses, which cumulatively generated more than $1 billion in revenue. Mike graduated with a degree from the University of Oklahoma Price College of Business, where he currently serves as the senior entrepreneur-in-residence.
