Start Small, Think Big: How Mike Stolte Built 406 Blinds from Scratch

Guest Profile: Mike Stolte Introduction: In a recent episode of Marketing Panes, we had the pleasure of sitting down with Mike Stolte, the driving force behind 406 Blinds, Montana’s top-rated window treatment business. Mike's journey from managing satellite TV installers to leading a thriving local business is a testament to grit, strategic local marketing, and a deep commitment to community. His story is an inspiring example of turning challenges into opportunities. Summary: Mike Stolte's path to success with 406 Blinds began with a pivot out of necessity. As the satellite TV industry declined, he saw an opening in the construction-driven window treatment market. Starting with just a $5 Craigslist ad, Mike built his business through grassroots efforts, community involvement, and a laser focus on customer service. His story highlights the power of local connections, smart marketing, and a resilient entrepreneurial spirit. From Decline to Opportunity: The Birth of 406 Blinds: In 2019, Mike faced a turning point. With the satellite TV industry on the decline, he recognized an opportunity in the growing window treatment market. This wasn't a glamorous transition, but a strategic shift driven by necessity. Early Hustle and Organic Growth: With limited resources, Mike took a hands-on approach. He donned branded shirts, joined the Chamber of Commerce, and engaged in grassroots marketing—emailing builders, calling realtors, and going door-to-door. His first major breakthrough came from a simple $5 Craigslist ad, which surprisingly led to a contract with Lowe’s. The 406 Blinds Advantage: Local Roots, Local Trust: What sets 406 Blinds apart is its deep connection to the community. Unlike franchises, Mike and his team are Montanans serving Montanans. Their local roots and lower overhead allow them to offer competitive pricing and exceptional customer service. Diversified Revenue Streams: Beyond residential installations, 406 Blinds handles large commercial projects and maintains strategic partnerships, including a Costco dealership in North Dakota, expanding their reach and revenue. Smart Marketing, Simple Systems: Mike employs a blend of traditional and digital marketing strategies. From radio spots to geofencing ads, he's gradually embracing digital tools while still valuing the power of chamber networking and community volunteering. Measuring What Matters: A key metric for Mike is his closing ratio, which he aims to keep between 60-70%. This helps him gauge pricing, value perception, and sales performance, ensuring sustainable growth. Growth Strategies That Scale: Mike’s approach to expansion is cost-efficient. Instead of investing in warehouses, he uses UPS store boxes for North Dakota deliveries, keeping costs low while scaling operations effectively. Community Involvement as Marketing: Mike is deeply involved in his community, participating in food drives and supporting local sports. This not only builds goodwill but also strengthens relationships, which are vital for his business. Mike Stolte’s Top Business Lessons: Don’t Give Up: Resilience is crucial in the face of challenges. Track Your Money: Good accounting software is essential for financial health. Think Like an Entrepreneur: Always seek solutions and opportunities when challenges arise. Conclusion: Mike Stolte’s journey with 406 Blinds is an inspiring story of turning adversity into success through hard work, community focus, and smart business strategies. His insights offer valuable lessons for any entrepreneur looking to build a thriving business from the ground up. Video https://youtu.be/qDFfndgb274 Click here to display Transcript TRANSCRIPT Will Hanke (00:00) All right. Hello, everyone. Welcome to another episode of Marketing Panes, the podcast where we talk with real window treatment and awning service providers and business owners about their successes and struggles related to ...