E046 - How to Keep Ideas From Going Stale with Matt Nuccio

From MD to Entrepreneur with Dr. Pranay Parikh

The global toy industry is highly competitive and innovative and generates billions upon billions of U.S. dollars every single year, reaching a market size of US$ 170.7 Billion in 2022. Based on product, the market is divided into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, and plush, among others. Certain key aspects of this industry’s success are people who are self-driven, diligent, and hardworking. This is because toys are seasonal, requiring people dedicated to innovating new toys and features that will fit the changing demands. In this episode, Matt Nuccio, the president and co-owner of Design Edge Inc., joins us to share some of his secrets, tips, and insights for his company's success.

Design Edge is an international toy and game design and inventing firm and your one-stop shop for bringing toys and games to market. For over 35 years, Design Edge has been a leading toy, game, and collectible development, marketing, manufacturing, and consulting agency.

In this podcast, we talk about how Matt stays on the winning edge of toy making and hires other people with the same passion for making the best available toys in the market. We will also discuss what we can learn from that as entrepreneurs.

Key Highlights from the Show
[00:01] Episode intro and a quick bio of the guest, Matt Nuccio
[02:03] Matt’s backstory and how he became a toy enthusiast
[07:42] How Matt has instilled a culture of hard work and diligence among his employees
[09:02] His process of finding and hiring self-driven people
[10:32] A case scenario where Matt had to fire an unfit employee
[13:20] Tips to know when to keep persevering or to transition to the next thing
[16:43] Deciding whether to license a product or produce it solely
[22:00] Keeping innovation to the top in a seasonal product like toys
[28:50] How Matt gets things done up to the finish line
[30:17] Valuable lessons Matt has learned in his business dealings
[33:26] What Matt wishes to have put more resources into when starting his entrepreneurship journey[34:47] Best ways to reach out and connect with Matt Nuccio

Notable Quotes

• If you find and hire the right people, you will do very little as the business owner to run the company. Self-driven employees will make your work easier. [08:44]
• The most rewarding careers are the ones that give back in some shape or form. [25:58]
• You should not strive for a work-life balance but more of a mosaic, where more of your life looks like a mosaic. [26:21]
• Sometimes you have to force your way up through opposition to get your ideas across the finish line. [23:53]

Connect with Matt Nucio
Website: https://www.designedge.net/
LinkedIn: https://www.linkedin.com/in/mattnuccio/
Twitter: https://twitter.com/MattNuccio

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