‘Leave this world a little bit better’

JOHNSTOWN – Ken Munsch started working for the agricultural products producer Loomix in 1978. He continued working for the company after it was sold to P.M. Ag Products in 1991, eventually becoming general manager of the company’s liquid feed division.

In 1997 Munsch seized the opportunity to spin off the division into a separate company, and he and Mike Troska established Cattleman’s Choice Loomix. The company has enjoyed at least 10 percent annual growth since then and is eight times larger today than at inception, with approximately 350 distributors nationwide.

Munsch wasn’t always his own boss, however. In his youth, he worked at a 24-hour gas station – in 24-hour shifts.

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Q: What is the vision of the company and the community you serve?

A: Our company’s roots date back to 1952. Our primary business is supplying vitamins and minerals to momma cows. We are like the GNC to momma cows. We also have a secondary company that imports European technology to the United States primarily to be used by high-performance animals. In Europe you cannot use drugs on animals without a prescription. Of course in America, we can use a lot of drugs over the counter. For example, we market our product to the thoroughbred industry. In that one industry alone, we have 23 of the top 40 thoroughbred trainers using our product. We market our products through distributors, dealers, and through the Internet.

Q: What was the genesis of the idea for your company?

A: There was something we call “the three-bucket test” that actually served as the delivery system for the liquid feed. The “three-bucket test” was where three buckets of feed would be offered up to livestock to see which they prefer. It was during one such test that we stumbled upon a proprietary blend that made all the difference. It became a key product that helped fuel Loomix’s growth ever since.

Q: What was your initial startup cost and source of funding?

A: $500,000 from angel investors and $500,000 from banks.

Q: How long until you saw a positive cash flow?

A: It was immediate. Our company was profitable and cash flowed from day one. As the company grew much larger we experienced cash-flow issues due to rapid growth. We were fortunate that our asset base also grew very rapidly and we were able to cash-flow with our assets.

Q: Did you use a business plan?

A: Yes, I did. In fact, my partner Mike and I locked ourselves away in a hotel for three days while we wrote the business plan. In fact, every year, our management team has a retreat where we create a detailed strategic plan.

Q: What is the passion that the business fills for you personally?

A: Creating a legacy of being the best in our industry. I have a real passion for the company, as does my wife. When I say company I mean our entire Loomix family, encompassing our entire staff, dealers and their families.

Q: Looking back now, is there anything you wish you had done differently? What do you know now that you wish you’d known sooner?

A: I would have hired different people with different skill sets sooner. Don’t be afraid to hire people smarter than you, and don’t hire people like you. Bring in people with strengths where you are weak. Give away less in the beginning.

Q: Are there one or two things you can attribute your success to? Luck, timing, someone who helped you?

A: Luck and timing definitely helped, but patience was key. Integrity is everything. Three things in my life come before all else: my faith, my family, and my job. Also, I try to live by the saying: “Control the market data, and you’ll control the market.” That is something I learned in “The Ultimate Sales Machine” by Chet Holmes. Embracing my competition has helped, as well as being active with trade organizations.

Q: What is a slogan to live by or what might it say on your tombstone?

A: That is an easy one because I have told many, many, people this throughout the years. I hope my tombstone says, “When you leave this world, strive to leave the world just a little bit better than when you arrived.” And I hope there is an asterisk saying, “He did.”

Brian Schwartz is the founder of 50 Interviews Inc., and can be reached at www.50interviews.com.