324 – Finding Riches in Niches – Interview with Bob Liddle of Kustom Koozies

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Creating a successful business in any market doesn’t require that you reinvent the wheel. Bob LiddleSometimes all you need to do is find better ways to position an existing product or service in the marketplace.

That’s why I love the story of my guest this week. He and his wife took an existing product that most people are familiar with, and carved out a profitable space by targeting niche markets.

Bob Liddle is the owner and founder of Kustom Koozies, one of the few companies in the world that allows you order custom can coolers in small quantities.

The idea for Kustom Koozies first formed back in the 90’s when Bob and his wife wanted to order can koozies with the name of their boat.

The problem they ran into was they only wanted a dozen; but everywhere they looked required them to order at least 200 or more. That wasn’t feasible, so Bob and his wife figured there had to be a better way.

kustomkoozieAfter 2 years of experimenting with processes, they figured out how to do it, and launched KustomKoozies.com. At first they were screen printing out of the spare bedroom of their house, but today they have 14 employees and a 6,000 square foot plant.

Both Bob and his wife have since quit their full time jobs and now focus their efforts on growing the business.

In this episode, Bob shares some important lessons on growing a business both online and offline. One of their strategies was to target niche markets like the “boating” and “wedding” industry where there is a strong market for custom printed koozies.

Bob mentions the old saying “There are riches in niches”. When you find ways cut out small markets that the Walmart’s of the world won’t cater to, you can create a thriving business.

Some other great lessons you’ll learn from this interview are:

  • Why it’s sometimes better to grow your business on the side while working the 9-5 job. Bob explains that doing this gave them a lot of leverage in the beginning.
  • How to differentiate your product or service in extremely competitive markets.
  • How they’ve use social media sites like Pinterest, Facebook and Twitter to grow their business.
  • And much more!

Enjoy the episode!