BIKEsutra: Hi Tim,
How are you? Thanks for taking the time for this interview.
Tim: I am good. Working a ton and wishing
I were riding.
BIKEsutra: Tell us
a little bit about the Tim Medina that we don't know about.
Tim: Straight to the point, I like it.
I try to be as humble as possible. I love boxing and fast cars.
BIKEsutra:
I heard that you started off in your
garage, with $300 in your pocket. What gave you the push to
get started?
Tim: I always wanted a bike shop. I also
wanted to give a gift back to cycling. I never found a shop
that really seemed to care about tuning bikes to perfection.
So it was time to start one that did and Medina Cycleworks was
born.
BIKEsutra:
Tell us how the idea of Wrench Science
came about?
Tim: While I was running Medina Cycleworks
with the goal of being the best service shop we could be I started
selling custom bikes. The process was fun but horribly inefficient.
I knew that the Internet could work well for bikes if I played
it right. I decided to solve the problem of building custom
bikes and Wrench Science was created.
BIKEsutra: What sort
of inspiration did you have?
Tim: My friends and family. Trying to
be the best I can be. I am obsessed with winning.
BIKEsutra:
What are some of the difficulties and
limitations you faced while developing the software for WS Logic?
Tim: It has been non-stop difficult for the last
three years. There really are no limitations to Wrench Science.
It will continue to grow for the entire coarse of its life just
like cycles change. I'll tell you what drives me crazy is just
how long it takes to develop everything. It just takes so long
to get every little thing done that I have learned a new level
of patents. I have about one million ideas that I want to implement.
All in due time.
BIKEsutra:
You have been successful in online
retailing, even though you concentrate on a niche market. What
would you say are your factors for success?
Tim: I think there are a few things that
make it work. Giving the customers what they want is obviously
number 1. Making the best custom building experience possible
is also key. Our technology is really powerful and you can't
underestimate just how attractive that is. Last, you have to
run lean in the cycling business because the margins are so
small. This prepared me to run a tight ship on the Internet
also.
BIKEsutra:
How did you get the gang at WrenchScience
together? Any interesting experiences?
Tim: Some came from the cycling world,
some came form the climbing world and some came through friends.
Basically when I click with someone that has the skills Wrench
Science needs they are in. I am truly blessed to have such a
good team to work with. They make the business possible.
BIKEsutra:
You must have gone through some rough
times during the early years. What have you learnt from your
experiences?
Tim: To stay patient and move forward
steadily. You will know if what you are doing is right or wrong
and make your decisions based off those instincts accordingly.
BIKEsutra:
You rock climb as well as cycle. How
and what have you learnt from each of these sports that you
have been able to apply to the running of the business?
Tim: Climbing is all about solving problems
and so is business. In both you are rewarded by solving the
problem quickly. Bikes are all about rolling and flowing and
so is building a bike. Put the two together in a nice package
and you have a winning formula.
BIKEsutra:
Is there a special cabin on your boat
for all your personal bikes?
Tim: I leave all the bikes at the shop.
It is easier that way.
BIKEsutra:
What bike do you ride (and specifications
as well)?
Tim: I have a Titus Switchblade in 5.7-inch
mode that I love. I also have a Maverick American ML-7 that
is the sickest bike on this planet. And last I have a Fondriest
Carb Level that would bring happiness to anyone who rides it.
I think I have good bike karma.
BIKEsutra:
It's most people's dream to work in
a job which they enjoy doing, like you currently are. What would
be your advice to aspiring entrepreneurs out there who have
been inspired by your story and want to start out on their own.
Tim: That's a tough one I think you have
to follow your vision and make smart decisions. Understanding
finance and business is crucial. If your business plan makes
practical sense to you and you believe there is an underserved
market and you have the solution to fill the need, you are in
a good position. Next you need to understand finance and budgeting
in conjunction with strategic planning. To make the business
really fly all of these elements need to work in harmony. Oh,
most importantly you need to be 100% committed to making the
business a success or your likelihood of success is greatly
diminished.
BIKEsutra:
What are your future plans and vision
for wrenchscience.com and Medina Cycleworks?
Tim: I think Medina Cycleworks will always
be our service shop but eventually just for Wrench Science customers.
I think having an exclusive network of high-end cyclist will
prove rewarding and enriching to all involved.
BIKEsutra: Tim,
thanks so much for spending time with us for this interview.
All the best to you and the guys at wrenchscience!
