Bet Everything On a Late Night Epiphany...

Video Description

Get $100 when you fund a new Relay account: https://bankwith.relayfi.com/upflip/ View Relay's Disclaimer at the Bottom. For 2.5 years, Tim juggled his job and his small business, using his commission checks to fund SquareKeg’s development. But just as he was ready to dive into entrepreneurship full-time, his world was shaken by his wife’s cancer diagnosis. Despite the personal challenges, Tim’s entrepreneurial mindset pushed him forward. In this episode, Tim Loucks takes us through his journey with SquareKeg, a business that caught the attention of Shark Tank in 2022, securing a deal with Kevin O’Leary and Mark Cuban. With $100K/month spent on marketing, SquareKeg generates an impressive $350K/month in revenue. Tim shares the three essential steps to starting a business like his, his experiences on Shark Tank, and the significance of securing a patented product. This interview also dives into the mindset necessary to overcome life’s toughest battles as a business owner. 🔗 UpFlip Official Resources 🎓 Start or scale your business with the UpFlip Academy - https://links.upflip.com/academy-yt 📕 FREE access to ‘137 most profitable businesses’ - https://links.upflip.com/137-business-ideas-yt 🎙️ Follow the UpFlip Podcast - https://links.upflip.com/podcast-yt 📩 Join the UpFlip Newsletter - https://links.upflip.com/newsletter-yt 👉 Check out Tim’s business - https://thesquarekeg.com/ ⭐ Tools & Services We Recommend Best AI-Powered CRM 👉 https://www.upflip.com/go/go-high-level-crm Save $$ on your auto insurance bill 👉 https://secure.moneymatchup.com/2YXbmn Best business checking accounts (FREE) 👉 https://secure.moneymatchup.com/1YKrOV Looking for Business Loans? 👉 https://secure.moneymatchup.com/LV233y Set up a Shopify Store for FREE 👉 https://secure.moneymatchup.com/GWvVrk Set up Quickbooks for your business (DISCOUNT) 👉 https://secure.moneymatchup.com/0rLCuX Stuck in debt? 👉 https://secure.moneymatchup.com/yoXaZn Set up payroll with ADP 👉 https://secure.moneymatchup.com/HT5vef Timestamps: 00:00 - START 00:56 - The idea of SquareKeg 02:59 - Press brake demo 04:56 - The “tacking” process 05:47 - First production run 08:41 - Avoiding 3PL 11:57 - Pressure testing demo 14:36- Fan blitz 15:57 - Quitting the 9-5 18:02 - Citric acid dipping 19:05 - Revenue 20:20 - Relationship with a brewery 22:19 - From B2B to B2C 23:07 - Role of mentors 24:48 - Marketing 26:08 - Monthly overhead 26:58 - Bringing in Angel investors 29:21 - Sample of a failed product 30:10 - In-house manufacturing vs Outsourcing 31:28 - Patent protection 33:40 - From idea to reality 34:56 - Email list 35:53 - Losing money 36:37 - Production 38:12 - Advice to fellow entrepreneurs 39:18 - Outro Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank; Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted. Offer applies to users who do not yet have a Relay account. Offer requires that you deposit at least $100 into your Relay account, after which $100 will be deposited by Relay into your Relay account. Tim Loucks was deep in a sales career when inspiration struck him in the middle of the night. The idea? SquareKeg, a product that would revolutionize the beverage industry. #business #smallbusiness #startingabusiness