#294: Fighting for the Underdogs: Having Creative Bravery in Business with “Iron” Mike Steadman, USNA ‘10

Service Academy Business Mastermind

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“That's actually why I started calling myself ‘Iron’ Mike. It wasn't because of the boxing ring. It was suggestive. But it was really because I had to give myself a mental pep talk during COVID, when I had spent all this time building something, and to virtually see it go to zero overnight. Luckily, I was able to bounce back." –“Iron” Mike Steadman, USNA ‘10

"Iron" Mike Steadman is a dynamic entrepreneur, business coach, and brand builder who specializes in helping “underdogs” and “misfits” launch successful brands. A graduate of the United States Naval Academy and former Marine Corps infantry officer with deployments to Afghanistan, Japan, and the Philippines, Mike is also a three-time national boxing champion.

He is the founder of the nonprofit IRONBOUND Boxing as well as the business and consulting companies IRONBOUND Media, Flawless Acceleration, and The MisFits Branding & Design Co. Mike is also the author of Black Veteran Entrepreneur, and he’s working on his second book, Dog Whistle Branding. In addition, he hosts two podcasts.

Mike says he became “Iron” Mike during the COVID pandemic when he had to keep his newly opened boxing gym alive despite shutdowns and little support. As a Hoover Veteran Fellow at Stanford University and a mentor for Techstars, he’s made it his mission to support and empower underrepresented entrepreneurs. Mike's diverse experience and resilient spirit fuel his mission to "lift as he climbs," helping others overcome adversity and build impactful businesses and brands.

In this episode, we discuss:

• How Mike transitioned from a three-time national boxing champion to a multifaceted business owner who empowers underrepresented entrepreneurs.
• Mike's entrepreneurial journey from founding the nonprofit IRONBOUND Boxing to weathering the storms of the COVID-19 pandemic shutdowns, how he got through it, and why he gave himself the nickname "Iron" Mike.
• How Mike went on to found other businesses, including IRONBOUND Media and The MisFits Branding & Design Co., offering services in branding, marketing, and business coaching.
• The importance of category design in marketing, using examples like Red Stripe's "Jamaican beer" category to illustrate how businesses can create their own niches.
• His first big deal, which set the stage for The MisFits’ business model and suite of services.
• The importance of creating adaptive brand identities that can evolve as a business does.
• How his approach to business and branding emphasizes "creative bravery" and helping underdogs and misfits build impactful businesses.
• His mission to "lift as he climbs," supporting fellow entrepreneurs as he grows his own businesses.

Connect with Mike Steadman:

• LinkedIn
• [e-mail]

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Special thanks to Iron Mike for joining me this week. Until next time!

-Scott Mackes, USNA ’01