Striking a balance in entrepreneurship

BACK TO ALL NEWS

Striking a balance in entrepreneurship

6 Jan 2023

Joanie Spencer

Since 2008, Joanie Spencer has covered the retail and wholesale sides of the baking industry.
Serving associations such as the American Society of Baking (ASB) and BEMA, Joanie is also in demand as an industry presenter on bakery operations and trends. She holds a bachelor’s degree in communication from Rockhurst University and a master’s degree in journalism from the University of Missouri.

When she’s not running or playing soccer, Joanie spends her time with her husband and 11-year-old son.

MILWAUKEE — Trust is often born out of faith, and that has been a foundation for the investments by Matt and Katie Wessel, president and COO, and CEO, respectively, of Milwaukee Pretzel Co. It started with the first piece of automation for the pretzels’ caustic bath, the first area of production to be impacted by the growth. Although “sticker shock” is one of the first pains a business owner must get used to, the Wessels also believe in investing for the future and designing an operation that can be grown into.

That’s also reflected in the most recent investment for a new production line in the current facility.

“We had to trust that we could do it,” Matt said. “It’s risk, but it’s a mitigated risk because you know deep down it’s going to pay off.”

The Wessels’ business acumen and community involvement has propelled each of them into the Milwaukee spotlight, as both Matt and Katie have been named to the Milwaukee Business Journal’s 40 under 40, each in separate years. Currently, Katie engages in thought leadership in the Milwaukee business community through speaking engagements and panels.

“There are so many incredible things happening around us every day, and we are learning a lot from this community,” Katie said. “There are business leaders out there often doing things very quietly, and the Business Journal brings their leadership to light. And that allows me to learn from them every day.”

As bakery owners and business leaders, the Wessels face a challenge that has haunted bakers for generations: balance.

Burnout in this industry is real, and for Matt and Katie, it comes down to a numbers game. The natural inclination is to give 100% of oneself in every aspect. While that’s mathematically impossible, the key is to prioritize what areas to go all in and lean on resources where possible for the rest.

That might mean scaling back community involvement or business networking one month or perhaps sending a proxy to a meeting in favor of attending an important family event. Those strategic decisions often bring clarity for when the business takes the front seat.

Matt and Katie — two self-professed “Type A” personalities — see themselves as a yin and yang.

“We love our pretzels and everything we’re doing, but it all comes down to our family and each other,” Katie said. “If that’s not strong, then nothing else can be.”

That prioritization is the foundation for how the Wessels have managed Milwaukee Pretzels’ growth. From building the team to investing in automation to expanding sales into 17 states, each step was made with intention to strengthen the “family” in this family business.

“Growing more rapidly than we did would have been at the expense of those other things we prioritize,” Matt said. “The sole goal was never about ‘more, more, more’ pretzels. This company is a part of our life. But it’s not our entire life.”

That’s not to say they aren’t prepared to keep growing the brand. In fact, the ultimate goal is for Milwaukee Pretzel to have a presence throughout the entire US. Even so, the Wessels’ priorities remain the same, right down to their partnership with the March of Dimes Milwaukee chapter, specifically through the Randol Thomas Wessel Memorial Fund, established in honor of the family’s first born, who passed away in 2013.

“In growing this business, I’ve learned the importance of focus in areas we want to support,” Katie said. “The March of Dimes is important to us, and it’s something we put a lot of time and energy into. We don’t want to do anything less than 100% … we could be working with several organizations, but we wouldn’t really feel like we were contributing something meaningful.”

This story has been adapted from the 2022 Innovations Annual issue of Commercial Baking. Read the full story in the digital edition here.

Advertisement

BACK TO ALL NEWS