Question
Clint Matthews and Kyle Rood first met in 2012. They were both a part of the University of Missouri's BioDesign and Innovation Program (MUBIP). The
Clint Matthews and Kyle Rood first met in 2012. They were both a part of the University of Missouri's BioDesign and Innovation Program (MUBIP). The innovation program connected a businessperson, an engineer, and a physician. Their combined knowledge identified a healthcare need, developed technology to address the need, and formulated a business plan to get the technology to market.
Clint grew up in Ozark, Missouri, and was the youngest son of two small business owners. Clint spent many summers working with his father on the farm and in construction. Clint attended the University of Missouri. He played tight end for the Tiger's football team from 2000-2005. Clint graduated with an MBA from the Trulaske College of Business. In 2012 at the age of 30, Clint earned a BioDesign Business Fellow in Missouri's BioDesign and Innovation Program.
Kyle grew up in St. Louis, Missouri, and was a standout long distance-runner. Kyle pursued a collegiate athletic career and ran cross-country for Mizzou. He earned a master's degree, from the University of Missouri, in bioengineering and biomedical engineering. Kyle obtained a BioDesign Engineering Fellow, in Missouri's BioDesign and Innovation Program, at 23 years old.
Upon meeting, Clint and Kyle knew they could complement one another's strengths. Their relationship grew due to the commonality they shared being Division 1 student-athletes. Both Clint and Kyle experienced adversity during their athletic careers. Adversity propelled them to place value on persistence and embrace delayed gratification.
"We were kind of a different generation from a sports standpoint, but I could tell immediately, I liked his work ethic, and he listened," Clint said. "We didn't necessarily always agree, but if we didn't, we could just sit down and have a conversation and come up with logical reasoning on where we stood."
"As we started getting to know each other, I think his athletic background really lent itself to building a relationship between us," Kyle said.
In 2013, Clint and Kyle tried to take the product they worked on during the innovation program to market. The product, under the company name of Cardioptimus, was a specialized heart stent. Clint said, "it was an idea that could have probably saved lives, but it came to an end after a business partnership with another person went south." The Cardioptimus experience affirmed their ability to navigate rough waters together. It also served as a valuable lesson in building trust in those you go into business with.
Clint and Kyle moved on and founded a startup company called Talariant. The company product was an antiseptic used to prep patients for cataract surgery. Months into the venture, they received disappointing news from the U.S. Food and Drug Administration. A lengthy drug approval process superseded the quick approval pathway they envisioned. The process would multiply the time and money needed by at least 10-times. Their company was now dead in the water. Both men knew the business model would not work and had to figure out what to do next. They could pursue other avenues, explore another biomedical venture, or find their own opportunity.
Kyle was ready to quit being an entrepreneur and start applying for traditional jobs. "There were some pretty dark days back then, but at some point, you have to come out fighting," Clint said.
They decided their business partnership warranted another attempt. Clint and Kyle looked at several other business domains. They came up with a list of ideas related to their joint passion and knowledge of athletics and fitness. Their top three ideas were: 1) Biomedical devices related to promoting quicker healing time from joint injuries, such as a better knee brace for high-impact sports, 2) Healthy, nutritious, easy to prepare high-protein fitness food, 3) Athletic wear.
They did not have a good experience in the biomedical market. The saturated athletic wear market deterred them. So, they decided to pursue high-protein health-conscious foods. Granting them the opportunity to step into the Consumer Packaged Goods (CPG) market. There are fewer regulations in the CGP market. Saving them time and money.
With their decision made to enter the realm of foods, they looked at three options: 1) protein waffles, 2) protein bars, 3) nutritional supplements.
Clint and Kyle weighed all options. They researched market size, market saturation, and growth potential. Based on research results and passion they decided to pursue protein waffles. They launched Start Right Foods in 2015.
Critical Thinking Questions:
- What personality traits and skills do Clint and Kyle have that are characteristic of successful entrepreneurs?
- What trends have shaped the decisions Clint and Kyle have made as entrepreneurs?
- As small-business owners of Start Right Foods, how has Clint and Kyle's role changed over time?
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