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Uncharted Entrepreneurship - hosted by Brent Peterson out of the Minnesota chapter of Entrepreneurs’ Organization – brings you daring stories straight from the trailblazing entrepreneurs who are unmapping business frontiers across every industry. Settle in around our virtual campfire as Brent sits down to pick the brains of startup pioneers, visionary founders, and intrepid CEOs whose origin stories - marked by unexpected twists, lessons, and stumbles along unpaved paths - will inspire your own trek in launching a boundary-pushing venture. Trading war stories, strategies, and even warnings, these audacious guests invite fellow founders and future leaders into their confidential circles in a uniquely transparent, wise, and motivational way. So join us off the beaten business trails to light your entrepreneurial fire!
Brent Peterson (00:02.425)
Welcome to this episode of Unchartered Entrepreneurship. Today I have Teresa Finn. She is the co -founder of Hammerhead Swimcaps. Teresa, give us an introduction for yourself. Tell us your day -to -day role and one of your passions.
Theresa Finn (00:18.094)
Day -to -day role, I really run the business side of our company. It's called Mako International. We do business as our product line, which is Hammerhead Swim Caps. And so I handle all of the social media and partnerships with any of the Olympians or like
elite athletes who have endorsed us. And I also am working with a company that kind of ties in with LinkedIn. And their focus is to try to get us these roundtable meetings with interested parties. A lot of that focus will be B2C. I'm sorry, B2B. And just to talk to coaches and retailers that may want to, you know, have Hammerhead and part of their product line.
My passion is actually not swimming. My son is a D2 collegiate swimmer, but mine is pickleball. I just had two foot surgeries in the last three, four months and I'm back on the pickleball court and I'll be probably playing five days a week this summer.
Brent Peterson (01:23.065)
That's awesome. Yeah, a good friend of mine, Mark Siegel is out in Wyseta. He's a really big, he's really big into pickleball. So anyways, we'll talk, we'll talk about swimming later and a little bit of pickleball. But before that, you have graciously volunteered to be part of the free joke project. So I'm just going to tell you a joke and just have to rate it one through five. And today I do have a good joke that is a, that has exercise involved. So here we go.
Theresa Finn (01:31.63)
Yeah.
Theresa Finn (01:49.216)
Okay.
Brent Peterson (01:51.225)
My favorite exercise is a combination of lunges and crunches. I call it lunch.
Theresa Finn (02:00.046)
Yeah, and if you're exercising, then you're burning calories, not eating calories. I'm going to give that a B plus.
Brent Peterson (02:05.561)
All right. All right, that's good. Thank you very much. Okay, so let's talk a little bit about Mako. I'm assuming I know where you got the name from.
Theresa Finn (02:17.07)
Yep, yep. Actually, my business partner David, he and I both had nine -year -old kids at the time when we came up with our idea day and my son happens to be a shark enthusiast. So yes, that's where the parent company name came from.
Brent Peterson (02:34.649)
That's awesome. So give us a little brief overview of the swim cap and how it differs from some of the others.
Theresa Finn (02:43.566)
Certainly. So we had our idea day story and what we really focused on coming up with a product that will offer a level of safety for swimmers or aquatic athletes. They have none and they're usually surrounded by cement walls and they try to go really fast into those cement walls. And sometimes they're doing a stroke where they can't see what's going on behind them called the backstroke. So our swim cap looks
kind of looks and feels like a swim cap people have grown up with. It's made out of a premium silicone. It's kind of smooth. It doesn't pull your hair when you put it on or take it off, but it's Secret Sauce, which is patented. We have a utility and a design patent on it. It is the honeycomb system inside of the cap. Can you see that okay? So what happens is if a swimmer is...
Brent Peterson (03:34.873)
Mm -hmm.
Theresa Finn (03:39.854)
doing the backstroke and they when they get to the five meter flags right at the end of the pool on either end that's when they're that's their cue to start their arm count their arm rotation so they'll either stop the race or they will turn and if the flags are moving if it's windy they're outside the sun's in their eye they're daydreaming any of the above a lot of times they'll miscount and what happens when they get stronger and faster and longer is they have to constantly recalibrate that arm count so
That's where our initial focus was, was on the young swimmers learning how to master that stroke. But what we learned after time is that, you know, there are collisions all the time in busy warmup lanes before a meet or in busy practice lanes. So you're supposed to go down one side of the pool and come back the other side of the lane. And that doesn't always work either. So that's really what our focus was.
Added benefits of the product is that when you look at a normal swim cap, it's two pieces of silicone or latex fused together and it looks like a bowling ball. It's round and not all of our heads are shaped like that. So it's usually got wrinkles along the top of the cap. Our cap, because of the safety system inside, has no wrinkles, which swimmers call drag. And if you're gonna shave your body and wear a $500 tech suit,
You don't want to be swimming with a cap that has wrinkles in it. And then another feature that turns out to be a benefit is that it's all one part. We had to make it all one part. So there are no seams and we've never had one tear. So it will outlast any swim cap on the market.
Brent Peterson (05:25.753)
That's great. And so I do open water swimming mainly. Is there a benefit for that type of event or is it mainly for pool swimming?
Theresa Finn (05:36.718)
It is definitely for open water swimming. That has been a market over the last probably 18 months. It's really opened up for us. And Joy McAdams is an Ironman swimmer and we connected with her to really learn about, you know, what are the challenges for open water swimmers? Well, now that COVID's over, mass swim starts are back and that's a place that really intimidates a lot of triathletes and open water swimmers. So when elbows are coming down on your head and
people are kicking in front of you and really nice to have some added protection there. The other risks are if you're in open water and there happens to be some debris, your head is protected if there's something that you're swimming into. Also, if it's rough waters and the kayaks who are supposed to be observing all of you, right? Sometimes that oar comes down and hits a swimmer in the head.
So those are the, where congested areas are, buoy turns and just risks of being in the open water. That's where we found they really like it. And if you're swimming in chilly waters, like people do in Minnesota, they really feel like the hammerhead, it gives them an added bit of insulation. So.
Brent Peterson (06:48.313)
Yeah, I'm not a very good swimmer, but I did do Pointe -à -Le Pointe last year, and I was terrified. And I do those, those kayaks in the water were a savior because they kept pushing me over and I kept, you know, not going straight and they kept, no, go straight this way. That's where the other side is. So I can, yeah, I can now see that. And I also do Ironman too. So I could all, and I'm very familiar with getting kicked in the head. It's very frustrating.
Theresa Finn (07:16.174)
Yeah. Yeah.
Brent Peterson (07:17.305)
So tell us about the, you showed us the kind of that, the top of it, the weave or the honeycomb, I think you called it. How did that come about? Like, how did you come up with that idea?
Theresa Finn (07:28.494)
Yep.
Theresa Finn (07:33.646)
So we definitely had some really great people helping us with that. So we, we had an event where two swimmers hit their heads on the wall. One of them was my business partner's daughter. And the other one is a 14 year old. And, my business partner is a coach instructor and he said, what I have to do, get you guys a helmet. And so that was when the idea sparked and my husband happens to be a dentist and he's very creative. So that night we went home and he made a.
like a banana -shaped non -porous insert just to try it, practice the next day. So we put it inside the cap and it did what we wanted it to do. But after further research, we found that it had to all be one part, as I mentioned earlier. So we reached out to a couple engineer friends of ours and they listened to what we were trying to create. We talked about what kind of software the
product would have to be developed in. And so we found a designer here in the Twin Cities. Everyone's local so far. And then the real challenge was finding the right manufacturer. So between the engineers kind of laying out the scope and the distance between each of the honeycombs and then the designer kind of taking it from there and bringing it to life electronically, that's how it all started. The first iteration looked kind of
So we'll call it like a gladiator type of a cap where on the top it went down and then down. Like no kid's going to wear this cap. It looks too goofy. So we went back to the drawing board and just smooth it out so it contoured where you really don't even see it inside the cap.
Brent Peterson (09:09.305)
Yeah.
Brent Peterson (09:18.169)
And I think I saw that the cap you had there had an alligator on it. You can customize it to the swim team or the color, or even if any race that somebody's doing.
Theresa Finn (09:27.462)
Yeah. So that's what's on the front of every hammerhead. And here's a six color design. We did this for the USA Artistic Swimming National Team for their competition. So yeah, we can do one up to six colors. Yeah, this one was a sample we did for the Gators. And yeah, the partners we have to do decoration are
Brent Peterson (09:54.489)
And is there restrictions in D1 swimming? Can anybody wear any cap they want?
Theresa Finn (09:54.702)
Fabulous.
Theresa Finn (10:05.678)
Well, what usually happens is the team between whatever season they're swimming, they will basically do a contract with like Tier or Speedo or one of the big manufacturers. And from there, they want the real estate on that cap. So where we fit in is a lot of the swimmers will put our cap on first and then their goggles and then their team cap. And so that's called double capping. And it started
Brent Peterson (10:30.649)
Hmm.
Theresa Finn (10:34.318)
because swimmers didn't want their goggles to slip off when they were doing a race. So it works out perfect because the flimsy silicone or latex caps, they can just slide over the hammerhead and you just pull it down tight and you still have that smooth surface. So everybody wins.
Brent Peterson (10:49.177)
Yeah, I guess what I meant is there's no like NCAA restrictions on the type of cap you can wear or have to wear, right?
Theresa Finn (10:57.806)
No, there is on the size of the logos on the caps though. So, have to stay within regulation. Yeah, it can be a logo and then the manufacturer's logo, which is in the front, which has to be a certain size. So, obviously smaller than the team logo.
Brent Peterson (10:59.289)
Okay, interesting. Not the design.
Brent Peterson (11:09.465)
Right.
So tell us about your journey and like where's your company at now and how are you growing?
Theresa Finn (11:22.35)
Well, we, our idea day was in 2013 and we shipped our first product in May of 18. So shortly thereafter, so we started shipping size large in 18 and then in January we had the size small and medium. So, we've really just been trying to align ourselves with, standout organizations within the swimming and aquatics world. We've got some great endorsements from Olympians, whether they be swimmers or triathletes or Ironman.
elite swimmers and really now it's about scaling. We have talked with Speedo and Tier and Finis and a number of the big dogs and you know it would be a nice compliment to their product line but once 2024 kicked off it was all about the trials and the Olympic Games so everyone's kind of just sitting back waiting for that to all the fireworks to go off and enjoy the games and then we'll probably try to re -engage and really need David and I have always known that we're
we're going to need somebody to take it to the next level, whether it's international distribution or just scaling it in so many other ways that these big organizations can.
Brent Peterson (12:31.865)
Have you always been an entrepreneur or is this a new adventure for you?
Theresa Finn (12:37.454)
well, I, I spent most of my career in sea level, sales. So I did some consulting. I did some data analytics and my last venture was with a brand management firm. So I was working with large restaurant chains and grocers and, corporate America to put their logo on any product that's needed, whether it be a t -shirt for a big family picnic or, golf shoes for a golf tournament or.
recognition products or uniforms for restaurants and grocers. So I learned a lot about manufacturing and dealing with overseas manufacturing schedules through them. That was helpful. So I feel like any chapter I had contributed to really helped become an entrepreneur and enjoy that.
Brent Peterson (13:10.393)
So you.
Brent Peterson (13:15.609)
Yeah, I can imagine.
Brent Peterson (13:28.633)
And you're coming up on almost 10 years since you did your brainstorming day, right?
Theresa Finn (13:37.605)
Yeah. Well, then I think we were, I think we're at 11, cause it was 2013.
Brent Peterson (13:39.897)
Okay, yeah, and so what do you see as your next step?
Theresa Finn (13:49.006)
trying to find the right partner to scale, the right partner that really gets it. And in 2019, we went to some of the big conferences, ISCA and ASCA, and talked to coaches every time we went and really learned more and more about what they need and what they want. And what we learned is that a lot of them, including the great Rowdy Yanes, when he first saw the product, it was like an aha moment. Like, well,
Why didn't somebody think of this? I can't believe somebody didn't think of this. I've seen so many kids with their heads. And so really just finding the right partner to take it to the next level. And we're ready. We're ready. That has always been our plan.
Brent Peterson (14:30.489)
Are you looking at getting onto Shark Tank?
Theresa Finn (14:36.142)
Well, we actually went through a rigorous process with Shark Tank and it was right before COVID hit and during COVID. So we kept getting postponed. And so, I mean, it's possible that they could call us back. I can't say too much because I guess once you've sold your soul, it's really amazing the commitment you have to make.
Brent Peterson (14:40.569)
Okay.
Brent Peterson (14:58.905)
that's f -
Theresa Finn (15:05.134)
and going into that endeavor of being evaluated for it. But who knows, we might get an email or something. They found us, they reached out to us in the beginning.
Brent Peterson (15:13.049)
that's awesome. Yeah, I would think your product is the perfect one to be. I would watch the show, the episode. What have you seen as your biggest struggle in growth? Do you have anything that kind of relates across different markets or different types of industries that you think that is unique to your business?
Theresa Finn (15:21.646)
Yeah? Yeah.
Theresa Finn (15:42.446)
Theresa Finn (15:46.798)
Coaches are an interesting type. They're the ones that buy caps for the team and then the parents buy them from the team. And they're amazingly dynamic and they're almost entertainers and they're so passionate about what they're doing to engage these swimmers, but they don't like so much the backend administrative side of things. So change is not so easy.
I started telling you a little earlier in 19, the USA swimming adopted the concussion protocol. It was a training that coaches and anyone that volunteered on the pool deck had to get certified to identify if somebody had experienced a concussion. And so our storyline is, well, that's awesome because the sport has identified that it's happening and, and we were really excited about that.
how we position ourselves is we're the precursor to that. If you have one on, it's less likely that you're gonna have a concussion. So if there's impact with the swimmer in the wall, our cap, the honeycomb system dissipates the impact by over 50%. So I would say just getting coaches to, just getting their attention. Because if it's season, they're busy. And if it's off season, they're unplugged. And so,
That is not unique to our business. It's not unique to new innovations within the swimming world. So it's just something that we keep whittling away at. And what I've noticed since post COVID is that the brand awareness is very strong. I mean, so much stronger than before, which is normal from a company that's been around over a decade.
Brent Peterson (17:32.313)
Yeah, and if you watch the tour de France from the 1970s and early 80s, nobody was wearing a helmet then. And now that's, I mean, nobody would think about, I guess people ride bikes without helmets, but I wouldn't think about going out on my bike without a helmet. Yeah, of course. I know that you have an affiliate program. Tell us a little bit about the affiliate program.
Theresa Finn (17:42.83)
See.
Theresa Finn (17:51.758)
Right, or our kids, our grandkids, right? I mean, it's, it's, it's a boo now.
Theresa Finn (18:01.838)
So it is pretty cool. There are a lot of them to choose from, but we partnered with a company that we tied in with our Shopify platform. It's an app. And anyone can go to our website and actually click on affiliate and then go through the process of signing themselves up. What they do is they link a payment method so we can commission them or pay them commission.
And they also have to create, they create their own personal link. So they would use that link to in social posts, in emails, in text messages to their network. And then anyone that goes to buy a hammerhead from there would, it would be recorded in the app. And then we scheduled the payouts from there to the affiliate. And we have jurisdiction over like what percentage we pay them. So.
There are certain elite athletes that are spreading the word for us that we have, I think the default is 10%. And we've gone much higher than that for some of our valued partners.
Brent Peterson (19:09.433)
That's awesome. Is there a hotbed for swimming, particular state or region that there's a lot of swimmers and especially swimmers that seem to do really well as they go through the collegiate years and into pro?
Theresa Finn (19:28.622)
There's a pocket, so there's USA Swimming and that's made up of a bunch of different local swim organizations that roll up to USA Swimming. And they'll take the swimmer from age eight all the way through, I think it's 18, 15 maybe. Maybe it's 18, I'm sorry. And then there's another group of swimmers that's huge. It's only, they're called Summer League Swim Clubs organizations. And they,
They run from June through the end of July or very early August, and they are completely parent volunteer run. So we are partnered with, we sponsor two huge, probably the two biggest in the country up in Northern Virginia and Maryland. So one of them is Northern Virginia Swim League, the other one's Montgomery County Swim League. And they have upwards of a hundred teams and over 20 ,000 swimmers.
Brent Peterson (20:24.249)
Wow.
Theresa Finn (20:27.694)
So that is a huge pocket in the U S very strong in Florida, Texas, California, Ohio, Indy, and Minnesota is actually very strong. And that's, that's a little different than open water. You know, those markets are different, but as far as the, the USA swimming, consists of about three to 400 ,000 swimmers.
but summer league just knocks it out of the park. And open water swimming is becoming so popular, so we're seeing a lot of growth there.
Brent Peterson (21:02.521)
Yeah, I join the Minneapolis Open Water Club every year and get out to the lakes and swim. Lake Anne, of course, and all the other, we're littered with great lakes to swim in. People don't take advantage of it.
Theresa Finn (21:14.35)
Good boy.
Theresa Finn (21:19.662)
We can brag about that. Are a lot of your open water swimmers, are they master swimmers or triathletes?
Brent Peterson (21:25.177)
Yeah, masters. Definitely. I think even when I did point to the point, I'm in my fifties and I think that there was a lot of people much older than myself doing that swim in their seventies and maybe eighties. Yeah. Something it's a sport you can do your whole life and keep going. Right. so, so Teresa, we have a few minutes left. As we close out, I give everybody a chance to do a shameless plug about anything they like. What would you like to plug today?
Theresa Finn (21:40.27)
So cool. Yeah, so cool.
Theresa Finn (21:55.31)
Well, if you're interested in checking Hammerhead Swim Caps out, we are at www .hammerheadswimcaps .com. And if you want to join to be an affiliate, you can make some extra money. Well, if you are a loyalist to our brand or love the concept, we'd love to have you join the team. That list has grown significantly in 2024. We're here to make swimming safer.
And that's the bottom line. That's been our focus since day one. And we're looking for people to embrace and, you know, get their kids something to make sure if they get hit, they're going to be okay. And they're going to still want to swim. Keeps them in the sport a little longer, right?
Brent Peterson (22:35.769)
That's perfect and I'll make sure I put all your contact details on the show notes.
Theresa Finn (22:43.438)
Yeah. And if you're a team looking to buy caps, we've got great discounts for quantity orders.
Brent Peterson (22:47.449)
Perfect. Teresa Finn, the co -founder of Mako International, is that correct? Hammerhead Swim Cats. Yeah, perfect. Thank you so much for being here.
Theresa Finn (22:55.694)
Yep, Hammer. Yep. Thank you. Thanks for having me.