In this revealing episode, Stan sits down with Jeremy Andrus, CEO of Traeger Grills, to delve into his gripping experiences in entrepreneurship and business transformation. Jeremy shares the tumultuous journey of rethinking and reinventing Traeger Grills amidst economic upheavals, tariffs, and a toxic corporate culture. The conversation covers the critical importance of negotiation, managing complex supplier relationships, leveraging partnerships with major retailers like Costco, and the power of transparency in leadership. Alongside anecdotes from his time at Skullcandy and a harrowing poisoning scare in China, Jeremy offers invaluable insights into building a resilient business that's not just about survival, but winning.
00:27 Meet Jeremy Andres: CEO of Traeger Grills
01:12 Navigating Challenges: COVID and Tariffs
02:47 Reinvention and Survival Strategies
05:38 Transparency and Team Communication
10:43 Jeremy's Harvard Business School Journey
13:16 Early Entrepreneurial Struggles
17:17 Joining Skullcandy: The Early Days
21:55 Negotiating Deals and Raising Capital
29:05 Acquiring Traeger Grills: The Surprises
30:04 Acquiring a 27-Year-Old Business
30:35 Cultural Challenges and Realizations
33:01 Negotiating a Buyout
33:34 Revamping the Supply Chain
34:37 Dealing with Toxic Culture
36:59 Retail Negotiations and Battle Scars
37:25 Costco's Tough Negotiation Tactics
48:38 Supplier Negotiations in China
55:54 Building Strong Supplier Relationships
01:03:33 Conclusion and Final Thoughts
Host Stan Christensen has spent his career working as a professional negotiator in a variety of arenas. He has also taught a popular course on negotiation at Stanford University for over twenty years.
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