Breaking Barriers: How One Ecommerce Venture Achieved Success
The Birth of StrongArm Sport
Back in 2014, the online shopping landscape was already thriving, yet there seemed to be an inexplicable absence of accessibility to a crucial piece of equipment: the Squat-Bench Combination Rack (ER Rack). Despite numerous attempts to procure it, Mike and his training partner found themselves hitting dead ends. It appeared that Canadian ports were barricaded against this equipment, with US dealers unwilling to ship to Canada, and local manufacturing virtually nonexistent. The only option was to acquire second-hand pieces at personal expense by crossing the border.
Enter Erik Rasmussen, a manufacturer based in Denmark who, like Mike, recognized the market void and was in search of a Canadian distributor. Seizing the opportunity, Mike dove headfirst into the complexities of the global supply chain. Learning the intricacies of logistics and navigating customs regulations, he tackled each challenge with determination and resourcefulness. What began as a daunting learning curve soon transformed into a burgeoning business, with one order begetting another until StrongArm was born.
Reflecting on the journey, Mike acknowledges the initial modest aspirations he harbored. "I thought I could make myself a bit of side money," he confesses. "I had no idea it would turn into a business." Starting with sporadic sales of the equipment, the turning point came with the introduction of accessories, paving the way for more consistent revenue streams.
Reflecting on Milestones
Looking back on milestones, Mike highlights the pivotal decision to leave his IT job and fully commit to his entrepreneurial venture. Subsequent achievements, such as reaching $1 million in sales and hiring the company's first employee, underscore the remarkable journey of growth and transformation.
Creating partnerships through the strength-based equipment sphere has not only been a marked achievement in Mike’s story, but has also allowing StrongArm to branch into new and previously untapped markets.
May of 2023 marked a new milestone in Resolute Strong Wear and StrongArm’s business relationship as Mike moved shop into a warehouse to accommodate the growing scale of his current operations. “[With] the move to the warehouse came an opportunity to work with Mike on a more meaningful level.”
Kate looks forward to what the future holds for the combined story of StrongArm and Resolute Strength Wear. “We hope in the future to grow both businesses together and hopefully be part of StrongArm Sport as Mike looks to retire, we could build out from his legacy.”
Advice For Prospective Entrepreneurs
For aspiring entrepreneurs, Mike offers simple yet profound advice: "Don’t be afraid to do it, it’s easier than you think." Embrace the tools and resources available, particularly in the realm of e-commerce, which has made entrepreneurship more accessible than ever before. However, he cautions against overlooking the importance of financial management, emphasizing the need to strike a balance between revenue and expenses. “There are a lot of demands on reporting and paperwork that you don’t have as a sole proprietor.”
Mike’s partners here at Guildstreet have taken the balancing act off his plate, providing expert insight and advice in navigating his growing and evolving business requirements. “Once you’re incorporated it’s necessary to have an accountant on your side - they do it well.” Through Guildstreet and Tyler Pocsik of JMH & Co., Mike has the perfect blend of business and tax accounting he needs to create a study financial foundation, meaning the sky is the limit as his venture continues to grow into the future.
In the saga of StrongArm, Mike Armstrong's story serves as a testament to the power of passion, perseverance, and the entrepreneurial spirit to overcome challenges and forge success.
Interview written by Justine Beaulieu.