Reeling in Success: The Musky Innovations journey from hobby to industry leader

Join us in this captivating episode as we dive into the incredible journey of Musky Innovations, a fishing lure manufacturing company that evolved quite literally from a humble garage startup to a thriving industry leader. In this interview, Brad Ruh, the owner of Musky Innovations, shares his passion for fishing and the pivotal moments that led to the birth of his business. 

Discover the challenges he overcame, the early successes that fueled his growth, and the impact of economic fluctuations on his entrepreneurial path. Learn how Musky Innovations outsourced production to facilitate expansion and its plans for the future. Plus, gain valuable entrepreneurial insights and advice for pursuing your dreams and building a successful business. Whether you're a fishing enthusiast or an aspiring entrepreneur, this episode offers inspiration and wisdom for all.

Introduction (0:00 - 1:15)

Defining Musky Innovations (1:15 - 2:45)
Brad describes Musky Innovations as a fishing lure manufacturing company specializing in fishing lures and accessories, with a focus on soft plastic baits for musky fishing.

Origins of Musky Innovations (2:45 - 5:30)
Owner, Brad, traces the roots of the company back to his passion for fishing and a fishing trip with his cousin, who had the skills to create molds for lures.

Early Challenges and Milestones (5:30 - 8:15)
Brad talks about the challenges of maintaining a full-time job while building the business and how the support of his wife was instrumental during this period. 

Transition to Full-Time Entrepreneurship (8:15 - 10:45)
Brad Musky shares his experiences of working long hours, realizing the need for a change, and taking the leap to make Musky Innovations his full-time venture.

Early Success and Growth (10:45 - 13:30)
The interview delves into the factors contributing to Musky Innovations' early success, including the support of the pro staff and growing demand for their unique products. 

Navigating Economic Challenges (13:30 - 15:45)
Brad and Brad discuss how the economy over the years has impacted Musky Innovations. 

Outsourcing Production and Future Plans (15:45 - 18:30)
The interview explores the transition from personally handcrafting lures to outsourcing production and its impact on the business.

Community Impact and Supporting Local Businesses (18:30 - 20:00)
A look at how Musky Innovations prioritizes supporting local businesses and suppliers, creating a positive ripple effect within the community.

Business Vision and Transitioning Out (20:00 - 22:15)
Musky Innovations' current status and its vision for the future, including the expansion into online sales, and finding the right successor.

Entrepreneurial Advice and Closing Thoughts (22:15 - 23:30)
The conversation wraps up with Brad’s advice to aspiring entrepreneurs, emphasizing the importance of passion and focusing on one's own path.
 

Learn more about Musky Innovations

https://musky-innovations.myshopify.com/

https://www.facebook.com/muskyinnovations/

Need a little guidance in your own business? We're here for you!
https://www.actionfinancials.com/
https://www.facebook.com/ActionFinancialS/
https://www.youtube.com/channel/UCuE31mXf6_Nf4yhpuZRHI6Q

Transcript

Brad AFS: [00:00:00] Okay, so today we've got Brad Ruh, owner of Action Financial Strategies, interviewing Brad Ruh, owner of Musky Innovations. And this should be a great interview because it's truly a garage to growth small business story. So this fits amazingly. Thank you for agreeing to be interviewed.

Yeah, for sure. So before I dive into some of the questions of your origin story, just for the audience, your 20-second elevator pitch on what is Musky Innovations when someone asks 

Brad MUSKY: you. Basically we're a fishing lure manufacturing company started out where I was doing my manufacturing myself.

I guess I wouldn't really be a manufacturer so much anymore, but because I have people make my baits for me now. But so yeah, we're a fishing lure company, sell fishing lures and accessories. 

Brad AFS: So take us back to the beginning and I know some of your origin story, but take us back to the beginning of when did the genesis of Musky Innovations start? [00:01:00] What was that point? 

Brad MUSKY: I always had an interest in fishing in general since I was a kid and dabbled in tying my own flies, making my own rods. So I just had that, in my history, if you will, growing up. It actually started when I went on a fishing trip with a cousin of mine who was in the tool and die business, he had his own company.

And I told him as we were fishing, I said, I got a lot of really cool lure ideas. I want to bring some different stuff to the marketplace that's not really out there. And he said I could make your mold. So we made a partnership at that time and just started off really small and in a garage, basically. So that's what got me started. That's what piqued my interest, and then that opportunity came along. 

Brad AFS: So really you started off, I remember even in grandpa's basement, there was like your buck fly tying and bucktails and sure. Making lures from a long time. 

Brad MUSKY: Probably since I was 10 or 12, I was tying the flies and building rods and doing all [00:02:00] that kind of stuff. So I always had that interest. 

Brad AFS: And largely now moved into plastics. So was that the genesis of plastics was those dyes from your cousin? 

Brad MUSKY: Right. So in my industry, muskies, mostly toothy critters, if you will, not a lot of soft plastics were out back when I started.

1993 a while ago, there wasn't a lot in that marketplace of soft plastic. There was a few, but nothing much. And so that was my idea and my niche to get into that market. Most things were made out of either metal or wood or wire, that type of stuff. 

Brad AFS: The moment that you would say, besides getting the dyes made, what was the moment that you're like, I actually have a business here? Where you ended up walking away from your other job? 

Brad MUSKY: So it was actually '93, there happened to be the first musky show ever, coincidentally. Huh. So I thought that's what I want to try to grow [00:03:00] it in, so let me go to that show. And a couple key people came up to me at that show. I didn't know them at the time, now they're longtime friends of mine - they were guides in the industry - came up to me and said, wow this might have something here. This is pretty cool. So they got some product from me, took them all out and had really good success.

And that was when they had that success. And I had some early success myself when I was prototyping. And then it dawned on me like, man, this could actually be something. This might be, a good niche to fit in. And evidently it was. 

Brad AFS: So then what was the transition from, quitting your full time job to all in on this?

Brad MUSKY: Basically I did a full time job and this for about seven years. Thankfully, I also had a wife that was very supportive, and I think that's very important. So she was also working a full time job, so I didn't have to lose benefits. Which, at that time was huge. I just got [00:04:00] too busy.

I was working my regular job from 6 in the morning till 3. I'd come home and work till 10, 11 at night. And I did that way too long. And there was one summer, I'll never forget. Where I was going to bed and my wife was waking up going to package the lures I just made. For a whole summer we basically saw each other in the hallway. 

And I went yeah, this is that's it I'm gonna quit and at that time I figured you know, I had a college education. I went to Madison. So I figured If this didn't work, I can go get a job. Yes, I was rolling some dice, in giving up a little seniority, at where I work, but I was still young, didn't really bother me at all. So let's go for this. If I can make it work, make enough money that we can survive, that's what I'll do. And then. I think it was three or four years later, she ended up quitting her job and coming here, that's how fast we grew at the time. 

Brad AFS: Wow. What would you say, some of your early, biggest hurdles were?[00:05:00] 

Brad MUSKY: Quitting my job. Yeah. I think there was a one year where I bought a house, had a kid, got a dog and quit my job. That was all in one year. That was that was I was, again, I was young and I guess it was just the gamble I was willing to take, but I also believed in it. I think that's a huge part of starting your own business and growing your own business is, believing in what you're doing, have a passion for what you're doing.

And, working a lot, just. I always tell people when you own your own business, it owns you also. It really just becomes your life. It's not a bad thing. It just is what it is, and so we put a lot of hours in and stuff, but it's also very rewarding. 

Brad AFS: Were there any early successes that, really were helping to keep your momentum going?

Brad MUSKY: I think the biggest thing was the support staff that I had. And I'm not talking about people who worked here, but like my pro staff guys. Having the success on my product, right? 

Brad AFS: So getting those guides out there, [00:06:00] fishing with your product. 

Brad MUSKY: Then all of a sudden stores were calling me instead of me calling them, going hey, can I put my stuff in there? And they're going, who are you? We don't know your stuff. When I first started, a few stores would put it in on consignment. Consignment doesn't pay the bills unless they sell. But then when the product became a lot of success on it, the demand grew really fast.

In fact, I even had a lot of demand over in Europe, which was a weird thing. I had a couple guys take my product over there, had some success on pike fishing over there, and there was nothing like it. Now there's tons like it, but at the time there was nothing. So I remember the fax machine going off in the middle of the night, getting orders from Europe and then going, oh boy. And I'd figure out I can make this many lures an hour. This is going to take me like 70 hours to do this order, Oh boy. Again, being tenacious at it and putting a lot of hours towards it, but also having the right people around me and having success on it, I think that was really [00:07:00] important.

Brad AFS: Has your publicity in, as I've seen your, obviously pages and commentary in musky innovations magazine and some of those, has that publicity helped you in any way as far as spreading it? 

Brad MUSKY: Back in the day for sure. There was one one publication. I think was started in the 80s called Musky Hunter.

There was a lot of articles being written by my pro staff and about my products which of course helped tremendously. And I guess the other, one of the other really big things too, that happened and it was a person. As these musky shows started to grow, they started popping up all across the Midwest. I was doing one in Minnesota early on and a guy came up to me and said, your product's great, but I don't see it in the stores that I go to, how about I do some sales for you?

I said, sure. And we had a handshake. We never even had a contract. I don't know if I would advise that, but I was an honest [00:08:00] person. So was he. And we basically had a, about a 25 year relationship until he retired. And he was a very good salesman and he got me in a lot of places, which really helped grow my company also.

Yeah. So that was huge too. Again, the right people coming into your life and it can really be a big difference. 

Brad AFS: Walk me through a little bit of the '08 financial collapse and how did that impact your business at all?

Brad MUSKY: Thankfully it didn't hurt it too bad. There's one thing about outdoors people, they'll give up a lot of things, but they don't like to give up their passion or their sport or their free time, what they like to do in their free time.

So thankfully for me, did it slow things down? Sure. But people still bought my product and still got outdoors and still did their fishing. Even as the economy is slowing now or, inflation, everything right now, I can feel it, but it's not crazy. It's [00:09:00] just a little bit. So we just have to make adjustments, but thankfully it's been pretty recession proof, if you will.

Brad AFS: Yeah. And now coming into this next leg of your business journey, you're not pouring your own baits anymore. How long ago did that kind of change and how has that helped or hurt your business? 

Brad MUSKY: I got to the point where I'm like, I can't do it anymore alone.

If I want to grow, I've got to find someone to do it. So I searched and searched, and there's really not a lot of people that. A lot of companies that do what I call hand pouring of soft plastic baits. There's a lot that do injection and it's mostly down south for bass fishing, but a lot of my baits are too big to inject.

It just doesn't work right. So I tried the injection thing, spent a lot of money on a lot of molds and the baits just didn't work. The product just didn't work like it was supposed to. So again, I brought everything back and I found somebody, again, it's the people that really help and I helped them start their own business.[00:10:00] 

And now they, I think have eight or nine employees. They're pouring my stuff. They're making baits for other people. But yeah, that, that was a huge hurdle is when I knew I couldn't keep up. What was I going to do to still get my product and still get it out there. And since then I've been able to grow exponentially because I have a time to do what I need to do here instead of making baits, I'm shipping baits, I'm finding new customers and developing new product.

And I don't have time to do that. Before it was just try to keep up on orders. 

Brad AFS: Yeah. Yeah, trying to not to have the business outpace you. 

Brad MUSKY: Exactly. Yeah, that's huge. 

Brad AFS: That's really good. Any commentary on, where your business is today and where you see it going in like the next five, 10 years? And the industry, maybe some commentary on the industry.

Brad MUSKY: My business is the strongest it's ever been, actually. The years of COVID, like I told you, people will still go fishing and still go hunting. My [00:11:00] business actually grew quite a bit and we got to develop some new products. We came up with rods and things like that. I'm also trying to diversify a little bit into other things than just lures - more accessories and again rods and stuff like that. It's exciting.

I've got a new product coming out this year and I've already got two more being developed drawings, the whole nine yards. The way I look at it right now, because I can, I'm just putting the pedal to the metal and moving forward as, as fast as I can grow. I'm almost outgrowing my facility.

Brad AFS: Yeah, I see you're a little crowded in here for those on YouTube. There's a lot of lures hanging around here. There's a lot of product. Don't get hooked or get hooked! Because then you're supporting. So still in growth mode? 

Brad MUSKY: It's definitely in growth mode and I am 56, so six to 10 years-ish probably, going to maybe move on and sell. So I want it to be at optimal when I do that. Obviously.[00:12:00] 

Brad AFS: I know we're in super small Cleveland, Wisconsin community. Have you had any impact on the community with what you're doing here? 

Brad MUSKY: I think probably the biggest impact is the companies that I purchase from. Like my lures Midwest Tackle, they employ eight or nine people now.

Those are eight or nine people that weren't employed by me, or by support if you will. They're not actually my employees., I try to do everything as local as I can. All my packaging is bought out of Fond Du Lac, Wisconsin, one of my friends is a salesperson there. So as much as I can, I try to keep it as fairly local. I try to do most of my stuff in the United States. Not everything is because some things it's almost impossible, but I try to do most and if I'm not doing something, maybe I'm buying something from somewhere, but I see that opportunity here, I will change as fast as I can because I think that's important.

Brad AFS: Built in America. Yep. 

Brad MUSKY: And all these lures and [00:13:00] everything are... like I say, about 95 percent are all built right here. 

Brad AFS: That's fantastic. And you're in big stores. Yep. It's not like you're in, so and so's bait and gun down the street. Which you might be there too. 

Brad MUSKY: We're there too. We have distributors. Distributors mostly sell to those guys. I do sell direct to some of them also. Some of the bigger ones. And then, yeah, Bass Pro, Fleet, Farm, Cabela's. Cabela's. Yeah. Scheel's, all those guys.

Brad AFS: Any last vision for your business, aside from growth? What is transitioning out for you? Is it a hard stop or do you think you're going to phase out? 

Brad MUSKY: It depends upon, of course, the buyer, right?

One, one huge thing for my business in the last, I'll say five to seven years, has been the internet. I really developed in my website in the last six, seven years, and that has been the game changer, to be honest.

There's a certain amount of people that want to come and see you at shows and buy.

There's a certain amount of people that want to go to stores and buy and feel and touch, right? But there's also people who want to buy online. That's the only way they [00:14:00] buy. So if you don't have that presence, you're... You're cheating yourself out of business if you're in retail like I am or, selling a product like I am.

Having those multiple channels. 

As far as transitioning out, I don't know. I don't have a successor myself that wants it. But if I'm going to sell to someone, I'd for sure be happy to stay on and help them transition as long as it takes. And who knows, maybe I'll help them develop some more products. I got lots of ideas.

Brad AFS: For all the young aspiring entrepreneurs out there that are looking to start their business. Maybe it's musky baits. Maybe it's something completely different. What advice would you have to the young guy? Who's maybe starting a business in his garage?

Young guy or old guy. Who knows? Everyone's an entrepreneur at heart. It doesn't matter.

Brad MUSKY: That's true. Sticking to it. If it's your dream, everything's possible. Find good people around you. And I think one of the biggest lessons I learned, in my industry anyway, is [00:15:00] I don't worry about what the other guy is doing. I'm cognizant of it.

I like to find the niches in the marketplace that aren't filled yet myself. And I want to always be the guy that they're chasing and not be the chaser, if I can. Not always possible, but that's my goal. But what I found out is don't, again, don't worry about what they're doing.

If you put all your energy and focus into what you're doing, you'll be successful. 

Brad AFS: That's really good advice. Yeah. Not to scare anyone away from being their own entrepreneur, right? 

Any final thoughts on your business or takeaways we can share with our audience on your success?

Brad MUSKY: You have to have a passion for it. You have to love what you're doing. If you're like me and start, started it out from nothing, you're probably going to spend a lot of time doing it. So make sure you like it. I think that's super important.

I never come to work hating work. I always love what I do. I get up in the [00:16:00] morning go man I get to do that again. I don't think a lot of people get that opportunity. If you can feel that way about what you're doing, you're doing the right thing. 

Brad AFS: Awesome. Thank you Brad Ruh, for the interview today and until next time, take care everyone.

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This material is for general informational purposes only and was produced by Action Financial Strategies, LLC.  Life insurance is subject to underwriting. No coverage exists unless a policy is issued and the required premium is paid. Neither Action Financial Strategies nor NYLIFE Securities LLC or its affiliates provide tax, legal, or accounting advice. For advice on such matters, consult your own professional counsel.

Brian Ruh is a Member Agent of the Nautilus Group®, a Service of New York Life Insurance Company.  Brian Ruh CA insurance license #OB66341.  Brian and Bradley Ruh are collectively Registered Representatives of and offer securities products and services through NYLIFE Securities LLC. Member FINRA/SIPC, a Licensed Insurance Agency 999 Fourier Drive, Suite 300, Madison, WI 53717. (608)831-4416.  Brian and Bradley Ruh are also collectively registered as Investment Adviser Representatives with Eagle Strategies LLC, a Registered Investment Adviser.  Action Financial Strategies, Fox Cities Embroidery, and NVR Branding are not owned or operated by NYLIFE Securities or its affiliates.