*Subscribe to Knurled News to stay in the loop on sales, new products, and more.
Introduction
Mike Reed, the founder of Micro Gainz, joined the podcast to discuss this company’s founding, growth over time, current status, and future. This is potentially the best episode we’ve done for anyone interested in being an entrepreneur within the industry! Skip to (44:38) to hear his specific advice for anyone interested.
You can check it out on Spotify, Apple, YouTube, or wherever you get podcasts! The full outline with some notes is below.
(0:10) A bit of background info to start.
Mike likes to lift, enjoys road cycling, is married, and a father of three boys! These days he is running Micro Gainz full time and is likely spending time with his family when he’s not.
Before Micro Gainz, Mike had worked in the grocery store retail for about 15 years.
(2:08) Original Concept behind Micro Gainz
As Mike was looking to add weight during his weightlifting program, he plateaued after adding five pounds at a time. He started looking into fractional plates and found that there wasn’t a ton out there. He thought that he could make them himself. He reached out to a few people and ultimately created a v1 set of microplates, came up with the name, added some stickers, and started selling on eBay.
The idea came from a need for himself, he saw a potential business, and Mike decided to take action. Over the first year, he probably sold 20 to 30 units a month to begin and steadily grew over time. It was enough to continue to push into the following year.
(9:20) Time Management in the Early Days
He would work about 50 hours a week at the grocery store when he first started. He packed orders before then, had family time, and then would work until late at night to get the orders out.
He attempted to take a bit of time off on weekends, but in general, it was an all-encompassing experience to keep it running.
He ultimately hired someone in 2019 (about three years later) to help do orders in the morning and slowly got a bit more help over time. However, the grind did not stop!
(11:59) Company Growth Before Pandemic
He saw steady growth from year to year. While it started as a side hustle, he was confident that it would ultimately become a full-time responsibility.
For years, Mike poured all of his profits back into the business and lived off of his full-time job. He highly recommends this strategy for other aspiring entrepreneurs.
(14:15) 2020
Sales grew another 4-5x in 2020, and he was swamped! He consistently worked up until midnight packing orders at times during the year.
Micro Gainz added several plate options during this time because there wasn’t anything else available. They saw a steep decline back to normalcy back in March of 2021.
Nevertheless, 2020 was a huge step forward for the company.
(17:53) The New Dumbbell Plates
These are Mike’s favorite product release over the years. They took years to develop, and this new dumbbell plate is a much-improved version than the first version, and there is a huge value.
(18:55) Mistakes
He has some regrets when he “gets too in over his head” with an interest in getting involved with more than he could probably handle. A few products may have just been out of their strengths and ultimately didn’t flourish. Or, they were just out of his expertise at the time.
(22:58) 2022 Product Releases
1-inch fractional plates do not exist. They will be added this year. Aluminum and cast aluminum dumbbell handles may be something released as well.
He also mentioned that he is not afraid to create a small quantity and ultimately sell some (including the guitar deadlift jack pictured below).
2.5 lb dumbbell plate is a hopeful product release this year as well.
(26:47) In 5 years?
Mike believes that fractional plate popularity will continue to grow. Hopefully, this will help them simply become a better well, known brand and more of a force within powerlifting.
“Macro Gainz” is also a possibility, meaning he would expand to higher weights. Therefore, they’d become a company from which you could get all of your weight. This would allow them to be a complete company.
(29:33) Social Media
Social media has been a vital part of Micro Gainz awareness over the years. Mike has posted nearly every day for the past five years, and they typically aren’t “salesy” posts. It’s an excellent way for his company to give a behind-the-scenes look and face behind the brand.
(34:03) DIY vs. Buy
Mike started as a DIY guy. He DIY’d his weight plates that ultimately turned into a business. Many of his products are created today do start as DIY. Therefore, he is a huge fan and understands its importance for the industry.
If you’re able to create something that isn’t on the market yet or improve upon a product already out there, you may be onto something. You need to be careful about copying a specific product and keeping the overall quality in mind when doing.
Mike understands that there are ways to replicate his products in a DIY fashion. However, he understands the value of the time he may save someone and guarantee quality.
(38:30) What Keeps Him Up at Night These Days
The 2.5 lb dumbbell plates have been a very tough product to design, and what happens if the next day’s sales stop! Negative reviews can cause a fair amount of stress. Entrepreneurial life on its own makes it hard to keep his mind at ease.
(40:30) Products That Didn’t Go As Expected
A thicker grip dumbbell handle didn’t work because most did not have axle collars. Therefore, many ultimately returned them, and Mike stopped selling them. The traditional change plates may be an item discontinued as well.
(42:20) Juggling a Work/Life Balance
He thinks about his business all of the time, and it’s simply tough not to. He tries to unplug on the weekend.
In general, though, Mike loves what he does and is excited to work.
