CFO Intelligence Magazine – Winter 2023
Michael Rist
Owner and CEO, Sticky Brand
REINFORCE YOUR COMPETITIVE ADVANTAGE
As I saw it, Sticky Brand’s competitive advantage is the people who work here,” he notes. “So I made sure to communicate with employees, and to maintain that communication. At the same time I encourage them to take on new responsibilities and to feel free to make suggestions as we continue to grow the business.”
He also leveraged the company’s assets by leasing digital printers and other related equipment, instead of making outright purchases. “Having operated growth companies on a shoestring budget, I was able to see how larger businesses often utilize their funds in an inefficient manner,” observed Rist. “We didn’t have that option here, so from the beginning we had to deploy our limited capital in an effective manner. Machinery and equipment represents a key asset at Sticky Brand, and after running some return on investment models we determined that an asset-based lending agreement could provide the flexibility we needed to expand our product lines while aligning our cash outlay with our revenue.
Sticky Brand owner and CEO Michael Rist always asks if there’s a better way to get things done. His quest for knowledge and opportunity led him from Denmark to the U.S. and, eventually, from being CFO at SES Engineering, a division of SES, a billion-dollar-plus satellite and ground communications company, to owning Sticky Brand, a custom sticker and labeling company located in Burlington, Vermont.
Under Rist’s leadership, Sticky Brand has experienced hypergrowth with a compound annual growth rate or CAGR of more than 200%. Sticky Brand provides custom stickers and labels for big-league brands like Amazon, YouTube, Ben & Jerrys and Netflix; as well as to artists and small businesses owners. In addition to stickers and labels solutions for small businesses, the company also provides other branding products such as coasters, magnets and banners. But the company’s very success has raised new questions for Rist, as he balances the need for out[1]side financing to achieve next-level growth with his desire to maintain control of the enterprise.