WEBVTT
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People talk about like there's three things you need for success.
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A mindset, skill set, and tool set.
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And the concept is well, skills and tools are your business and your training and your industry and whatever.
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Just have the right mindset.
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Well, how?
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I'm frankly drinking a ton.
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I'm working my ass off.
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My investments are all over the place.
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My marriage is falling apart.
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My health is not great.
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I kind of wake up one day and realize, wait, this is success?
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Like, what happened?
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I, like many entrepreneurs, believe the myth.
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Have a great idea, work really hard, scale your business, make a lot of money, then you'll be successful and free.
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And it's a beautiful myth.
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But it's a myth.
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I believe the most powerful journey, and really in many ways the only journey we're on, is learning about ourselves.
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Hello and welcome to No Wrong Choices.
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I'm Larry Samuels, two charts taxena, and Larry Shea will join in just a moment.
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This is part two of our conversation with entrepreneur Mark Rampola, the founder of Zico Coconut Water, and now co-founder of Ground Force Capital.
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In this chapter, Mark shares the story of launching Zeko, building it into a successful brand, and eventually selling the company while continuing a journey of self-discovery that shapes how he approaches both business and life.
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Before we jump back in, please support the show by following or subscribing wherever you're listening.
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We'll pick things back up with Dushar as the conversation turns to the moment that set this next chapter in motion.
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Were you with the paper company at this point?
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Yeah.
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So I was there for um, I was uh I had met my um then wife, Mora, in in grad school.
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She was uh at at uh Chapel Hill and we had met through some mutual friends.
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We moved to Memphis, Tennessee, together.
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And so I was I was with International Paper in Memphis for about two years, where I I I traveled a ton.
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I was in Europe, Latin America, and Asia supporting the businesses.
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I I worked for a great guy that kind of ran the division.
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So uh it was sort of a generalist, you know, catch-all strategy type role.
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But it was great.
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I I learned a ton, I really loved it.
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And then an opportunity moved up to uh uh opportunity opened up in El Salvador.
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El Salvador.
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And once again, in a company of, I don't know, they must have had 200,000 employees at the time.
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There's probably, you know, how many?
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There's probably one person in the company that is excited, jumping up and down, but also speaks fanists, has lived in the region, you know, works in the division, has an MBA.
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So I I got a chance to move to El Salvador.
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And so I moved with my then, by then she was my wife, Mora, and ran a little first a little business that was beverage packaging.
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So we made like gabletop cartons for milk and juice companies in Central America.
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And I had 50 people, I was the general manager for that little business.
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What did that experience teach you?
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Oh man, that that taught me, or let's say that teached me, I learned so much.
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That that five, that was five years, but even particularly that first year was transformative for me because I I had to transform.
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I had to become a person that I that I wasn't.
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Fortunately, that's one thing I I liked, and I did have this insight at some point, probably in grad school.
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I I remember I remember looking around at my classmates at at Duke and thinking, oh my God, I'm never gonna be as good in finance as this guy, ops as that woman, this marketing as that person, you know, all these people are way better than me.
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What do you do if you love all of them, but you're not great at any of them?
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Oh, that's the that's the manager.
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That's right.
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So you realized, oh, I want that.
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It wasn't like power or anything.
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It's like, oh, I actually I think I can probably do that.
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And then I also realized, well, wait a second, like these big corporations, IBM, Coca-Cola, you know, wherever, you get on this program and then you rotate around, and then you're doing this.
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It's like it's like 20 years until you're really running a business, and then it's not really a business because the back office does uh does accounting and the legal department does legal.
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The the place where in big corporations where you really get to run a standalone true business is international.
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And so I set my sights on that.
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That's one of the reasons I went to international paper.
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So when I got that opportunity, it was amazing because it's it's a standalone legal entity.
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It's actually a joint venture, international paper owned 80%.
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Some local families own the rest.
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It's got legal and employment and country representation.
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I need to know the ambassador and I need to know the trucking company, and I got to deliver dividends at the end of the year, come higher, hell water.
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I got to report to a board of directors.
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So I learned a ton and mainly about myself.
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I I believe the most powerful journey, and really in many ways, the only journey we're on is learning about ourselves.
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And so I learned where my strengths are, where my challenges are, what I'm good at, where I get, you know, run in the fear, where and and so that process was one of the most powerful of my life.
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And I look, I almost failed.
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Like it, it was, I had a couple times where I thought, man, I don't know if I can do this.
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I don't know if they're gonna let me keep doing this.
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Um, but I but I but I did, and I wound up doing a really good job there.
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And that became the foundation uh for what came next.
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Can you talk to us about you know Zico and where the idea came from and how that all came together?
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No, you're right.
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That was that was the seminal, that was the seminal sort of professional development opportunity for me for sure.
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Fast forward five years later, now I've been yeah, or uh four years later, maybe six years with international paper.
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I'm now beginning to think, okay, we've El Salvador is like, we've been there for five, 10 to five years, like it's time for a change.
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It's a small country, it's uh it's it's great, but we want to we want to do more than just this.
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And so yeah, I started talking to the company.
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I was getting, you know, internal development conversations about next jobs, and a couple came up.
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One was um to move to Brazil, um, another was to move to uh Europe and and do uh actually an HR role, but but for run human resources talent for a billion-dollar business there.
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The other one was they wanted me to be the global manager for tobacco packaging business.
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And I said, Yeah, you guys don't know me that well.
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That one's not happening.
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And I started to realize, like, oh man, I love this company.
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They've done great things for me, but they're headquartered in Memphis.
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I I loved Memphis.
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We loved Memphis, it's not where we wanted to be forever.
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So it was hard to imagine, oh, if I stay with this company, you know, I'm moving around, great career, but then I wind back in Memphis.
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And at the end of the day, it's paper and packaging.
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Like it's I I love my job, I love the company, but that that's not exciting me that much.
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So I started to realize I think I got to go find another job.
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And I got in the fear.
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Like, oh God, how do I get a job?
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What am I gonna do?
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You know, uh I'm um the job I'm probably best suited for means I live in Miami and I travel 150 days a year, running some business in Latin America.
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I don't really want to do that.
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And I started to wonder, and it was actually out of fear, like, man, I wonder, I think I need to start something.
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I just think I need to start something.
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And it wasn't like an excitement at first, it was fear, but that that's okay.
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Fear can be a beautiful motivator, right?
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A beautiful motivator, and it also came from understanding who you were as a person.
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That took which is huge.
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That took time to emerge, but yes, and I and I will tell you that it it uh looking back, I had until that time, I had no interest in entrepreneurship.
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I thought it was weird, like I didn't get it.
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I remember in grad school, people that were doing that were a little bit on the odd, you know, side of things.
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It just didn't make sense to me.
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But in Latin America, I started to meet some family businesses, I started to um uh provide some, you know, uh uh work with some family businesses, entrepreneurs.
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And by now I'm in my early 30s, probably.
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So I'm I'm meeting enough people and seeing enough different experiences that I'm I'm starting to think, oh, there's something out there.
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And I'll give you one little example too.
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I'll never forget International Paper acquired another small packaging business.
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And and um that the person that ran that business, it's a family business, was gonna be peers with my boss.
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And I remember my boss telling me, oh, Mark was his name, oh, he's not gonna show up at our next off site because he just made a pile of money.
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He's gonna be skiing out of his place in Vale.
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And I remember thinking, uh uh, I like that, I like that scenario.
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What's that?
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Yeah, what's that scenario?
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So I started to get interested.
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And then I then I I this is where I think my ADHD helped me develop one skill.
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I am really organ, I'm a planner.
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And so I started to lay out, okay, if I'm gonna do this, how what criteria do I want to use?
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What is a good idea?
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Is it you know about the size of the market, the uh margin opportunity, but it's also about what I want, what what excites me, what I think I'll be interested in for a decade or two, something my girls might think is interesting years from now.
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So I actually developed a set of screens that then when I would have ideas, I would run them through the screens and could sort of rank them and compare them.
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So I had a ton of ideas, but uh coconut water was on the list because I'd first discovered it in Costa Rica as a Peace Corps volunteer, just drank it like everybody else.
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But then when I was in the beverage industry, I'm supplied, you know, reading the beverage magazines.
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Remember, vitamin water was taken off in maybe 2003.
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And I remember thinking, like, okay, great branding, interesting, but you know, it's not that healthy.
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Meanwhile, I'm drinking coconut water all the time, you know, having it for uh, you know, after a workout as a you know, hangover cure, just as a great beverage.
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I was super active and I'd gotten off a gator eight years ago, and I had learned about the electrolyte properties over the years, and just to realized, wait a second, wait a second.
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What if we could position coconut water as a as sort of a next generation all-natural sports drink?
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And that got me excited, like, okay, that could be big.
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That's exciting, fits with my lifestyle.
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And that began, that began the process.
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I love how you're bringing us right through the brainstorming process because that's something that we we often don't get that little window into seeing.
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So you're telling me essentially in our audience that it wasn't really a Eureka moment.
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This is something that you were planning on and working on and striving towards.
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And you're doing this while you're still an international paper, correct?
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So we talk about courageousness with entrepreneurship, and like at a certain point, you had to take that leap of faith.
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What was that decision-making process like?
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And when did that happen?
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Oh man, yeah, great question.
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Let's see.
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At that point, I would have been when I started, what did when I quit, I would have been uh 35.
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You remember the day?
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No, good question.
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I'm sure I'm sure I could find it, and it was a kind of a series of moves telling different people.
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But I do remember, I do remember flying up to um to the my the headquarters in Memphis, and I met with my boss.
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I think actually that's when he told me, I told him I was leaving, and he said, Are you kidding me?
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I was just about to put your name in for the global head of tobacco.
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And I said, Yeah, perfect.
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Have you met me before?
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Yeah, I met the head of HR and I, as a debrief, yeah, she wanted to know what was going on, and that's I told her, I told her what's happening.
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And she she said, What did she say?
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Something like, um, I'd love to tell you that we could compete, like we could offer you so many, so much potential because you do have a lot of potential here, but something tells me it's not gonna matter.
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And I said, Yeah, you're right.
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I've made I've made my decision.
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So that that was a process, right?
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I I I have a high tolerance for risk.
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I have a little bit of a you know, leap before you look uh uh approach, ready fire aim type of stuff, right?
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Yeah, exactly.
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My um my ex-wife more was still very amicably separated, you know.
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She did not, and she's very rational, very adventurous, but she had some legitimate concerns and cautions.
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Like, uh, yeah, we have two little babies.
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Like, uh, what are we gonna do?
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How do we take care of insurance and stuff like that?
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She's from New York, and and I had concluded I wanted to move to New York to launch the business.
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And she's like, look, I got out of there for a reason.
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Like, I I'll go back for you, but like uh it's gonna be for a window of opportunity, right?
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So so it took a it took a while, it was a process, but at some point, and I actually launched the business before I I I I think I quit, gave notice, but then it it was like a three-month period of time because I I had a pretty big job and it took some time to manage the transition.
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So there was sort of a three-month window until we moved um to uh so I think we launched in.
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I probably gave notice in.
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In fact, I'm certain.
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I I can find the date.
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I gave notice after a first trade show.
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That would have been fancy food 2004, probably June or something like that.
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In uh in New York?
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In New York at the time.
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I feel like I might have actually been there then.
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No kidding.
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I think I knew I was actually there.
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Why?
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Why were you there?
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And I remember, I remember the response was so good.
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People didn't know what the hell it was, but we had a beautiful booth, beautiful branding.
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Not only what it was, but that just there was there was so much excitement about something new here that I realized, okay, this is it.
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So I think I may have flown from there to Memphis and given notice.
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But then it took three months until we, I don't think we moved until probably September or October.
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Um, and I'll can bring you up to speed on the whole thing, but we were uh bankrupt by by uh December.
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Really?
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Wow.
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So my next question was going to be so what was year one Zico like?
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Year one Zico was like, I'll give you one one little glimpse.
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Probably, yeah, definitely within a year.
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Um we had uh realized can't afford New York, can't afford afford Westchester, where where my wife was from, so we got to go to Jersey, which my wife was not you know uppity or anything, but you know, you get in New York as well.
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Relax.
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I live in WSU.
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Nobody.
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So we're we're in a nice little house in New Jersey, and I am it's late, late at night.
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I'm in our garage taping boxes of Zico for Amazon to pick up the next day, or for uh FedEx to pick up the next day, or UPS to ship to yoga studios around the country.
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And my wife comes out, and I know I can't remember, she didn't even have to say it.
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I know she's thinking, wait, wait, wait, wait, wait, wait, wait.
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A year ago, you're managing 300 people, you're traveling business class, we're renting beautiful houses anywhere we go, we've got more money than we can, we know what to do we can spend, and now you're taping boxes in the garage, and we're not sure how we're gonna pay our mortgage this month.
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Like, what happened?
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Where did the name come from?
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I'm curious.
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I um my my sister is an architect, and she was involved, she did the original branding for us.
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And she and I um I again I set criteria.
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I want it to be short, memorable, um, non-offensive in the nine nine major world languages, and have either co in it, something referenced to either coconut or health and wellness.
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So she and I developed a spreadsheet of every possible combination of three to five letters, right?
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Pre-AI or something just manually, and then sort of went through the process of elimination.
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Oh, and and could it be registered?
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Could we get a URL or a trademark or something like that?
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And so um there were um, and Zico just sort of stuck short, memorable.
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We could trademark it, um, and had co in it for coconut, and it just sort of took on a life of its own.
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So talk to us.
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I I'm now imagining you in the garage, wrapping boxes, taping things up, sending them out.
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But even getting to that point must have been incredibly hard.
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How do you get started?
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Yeah, you've got the name, you've got the product.
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How do you start to get it into the marketplace and begin to scale your business?
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Yeah, you know, when I when I look back, one one thing I did really well.
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I I I think I was I was aware of what I didn't know, and and I was aware of myself enough to know where I had some big blind spots.
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And so what I knew I knew quite a bit about the supply chain because I was a provider to the beverage industry.
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So I knew packaging, I knew processing, I knew equipment, I didn't know anything about coconuts, but I knew a piece of the business.
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I knew nothing about the brand building, the go-to-market strategy.
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So I studied.
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I remember researching, I I researched every major beverage brand that had launched in the previous 20 years.
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Um, Red Bull, Monster, Honest, uh, no, this would have been pre-Honest T, uh, Snapple, you know, uh, Vitamin Watt, all those brands.
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I read everything I could to understand how did they go to market?
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How did this industry work?
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One thing I I wish I had done more of is really find some experts.
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I found a few, but I really just kind of did what people might call desktop research, right?
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Just what can I learn about this industry?
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And that was hugely helpful.
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And where I did leverage some of my network is I had a really good network of advisors and consultants we used for international paper because we also not just sold the packaging, we sold all the equipment as well.