In an exclusive interview, Steve Sanders, the visionary entrepreneur behind Mynd Gym Toys and now Binga Brands, shares his insightful journey through the challenges and triumphs of the startup world.

Interviewer: Thank you for joining us. Can you tell us about the inception of Mynd Gym Toys and what inspired you to dive into the startup world?

Steve Sanders: Absolutely and thank you for having me. The journey began in late 2019, shortly before the pandemic changed the world. At the time, I was searching for something more engaging than my day job. After completing my studies at the University of Maryland, I had a wealth of research on the entertainment, gaming, retail, and toy industries. These fields fascinated me, and I saw them as interconnected in many ways. With my partners, we took the plunge and incorporated our business in February 2020, right before COVID-19 became a global crisis.

Interviewer: It sounds like timing played a significant role in your early days. How did you navigate the challenges presented by the pandemic?

Steve Sanders: The initial phase was all about survival. The uncertainty was palpable, and shortly after COVID hit, my co-founders left, leaving me to navigate the storm solo. Despite the challenges, I was determined to push through. I attended online events, managed our inventory, developed marketing and financial plans, and built relationships that became the foundation of Mynd Gym Toys. Even though the website started out rough, constant iteration led to a product I was proud of. We even managed to participate in pop-up shops, comic-cons, and small business events.

Interviewer: Despite the efforts, Mynd Gym Toys is closing. Can you share what led to this decision and what's next for you?

Steve Sanders: Yes, due to personal and economic reasons, I've made the tough decision to shut down Mynd Gym Toys. However, this isn't the end of my entrepreneurial journey. I've shifted my focus to Binga Brands, where I'm in the process of creating a designer toy line and products. This new venture is an opportunity to design my own products, something I've always been passionate about.

Interviewer: Entrepreneurship is often romanticized. Based on your experiences, how would you describe the reality of starting and running a business?

Steve Sanders: Smooth is the last word I'd associate with entrepreneurship (laughs). It's a path filled with obstacles, but it's possible to tackle them in a smooth and pragmatic way. The key is to remain optimistic and to accept that while some decisions will be successful, others will be learning experiences. Entrepreneurship is challenging, and not everyone should rush into it without proper planning, understanding of the business landscape, or financial backing.

Interviewer: Can you talk about the core values that have guided you through your entrepreneurial journey?

Steve Sanders: Certainly. Our core values are Create, Curiosity, and Community. These principles have not only guided me but can serve as a beacon for anyone in the entrepreneurial space. Curiosity drives discovery, leading to creation with purpose, while community ensures we all benefit and connect with one another. These values, along with our mission and vision, have been crucial in shaping the direction of my business endeavors.

Interviewer: Who have been the most pivotal people and organizations in your journey?

Steve Sanders: My wife and a tight-knit group of friends have been incredibly supportive. Greg, Jon, Rob, and my accountant Linda, to name a few, have been there through thick and thin. Organizations like Black Business of British Columbia and Diversity, along with some excellent lawyers, have provided invaluable support. I'm also grateful for former team members and, most importantly, our customers. Building a loyal customer base that engages with your brand is essential for any startup.

Interviewer: It's clear that community and support have been vital to your journey. As you transition to Binga Brands, what lessons from Mynd Gym Toys are you carrying forward?

Steve Sanders: Every experience with Mynd Gym Toys has been a learning opportunity. The importance of resilience, the value of a strong support network, and the need for continuous innovation are lessons I'll carry into Binga Brands. The entrepreneurial path is fraught with challenges, but with the right values and people, it's possible to navigate and succeed.

Interviewer: Thank you for sharing your story with us. We look forward to seeing the innovative products Binga Brands will bring to the market.

Steve Sanders: Thank you. I'm excited for what's ahead and appreciate the opportunity to share my journey.