Davy and Katie Taff are the dynamic duo powering TaffCo, a management and acquisitions agency focused on the fishing and outdoor industry. Davy’s industry experience began in 1997 with The Powell Group allowing him to master various business facets. In 2019, Katie joined forces with Davy to co-found MonsterBass, a fishing subscription box, leading to further opportunities. Today, the Taffs unravel industry shifts from the surge in acquisitions to the decline of independent brands.
Beyond their industry prowess, their standout achievement lies in successfully running a business as a couple. Discover what the Taffs are most proud of, how they balance work and life and gain invaluable insights into steering a thriving business as a united force.
What is your specialty or niche within the industry?
With our years of experience in the same industry, strength in relationships is probably what makes us different. We are able to work with so many different outdoor companies in so many different ways, whether it be advertising, partnerships, acquisitions, system administration and management, accounting, etc.
What does your day-to-day running of TaffCo look like?
We have to wear a lot of different hats throughout any given day and be ready to switch at any moment, with it just being the two of us. Managing acquisitions, selling and placing print and TV media, OEM sales for another client, billing and collecting and system administration makes for a busy day.
What do you find the most fulfilling about your work?
When you see the fruits of your labor succeed. When a deal closes that you created and know was good for both sides, it is very rewarding.
What led you to focus on identifying and negotiating deals?
Starting a career in media sales can open up your mind to recognizing other opportunities. As you get to know brands well, through conversations and meetings, you start to see their needs and can find ways to fill them. The acquisition opportunities came naturally. Brokering these deals is very similar to sales. With a large contact list of clients, you can keep your ears open to brands looking to acquire and sell and bridge the gap for them.
Can you share a memorable experience from working with mainstream leading brands?
These were fun to work with and we certainly opened up our field of expertise through these experiences. Visiting the headquarters of these major brands (LEGO, Nintendo, Nestlé, etc.) regularly and getting to know the teams opens other doors as well. The most memorable was brokering a partnership between NBC Universal and Garmin culminating in a three-year partnership with Garmin becoming the “Official Fitness Tracker” of The Biggest Loser TV show. Davy was able to attend a live taping of a season finale with executives in LA and that is something that not a lot of people get to experience.
How do you see partnerships as a powerful tool for brands?
Collaboration between brands can always be rewarding when they are managed well. If a partnership is mutually beneficial between two companies with solid followings, both can benefit from the other’s strength.
What do you look for in new clients or business deals?
We always try to recognize a need in a client first. There are so many companies with needs that don’t really know what their needs are, they just know they need help. Some companies may just need a little advice or consulting, others may need help with actual services. We are always on the lookout for companies in need.
Personal Matters:
- Best Bit of Biz Advice: “Build relationships and work with good business ethics and morals. Most industries are small and word travels fast. If you work hard and are honest, people will trust you.”
- Must-Have Work Tool: Our CRM System. We have to have a system to keep everything and everyone straight.
- Out of Office: We have a place at Lake Martin, and that is our happy place. We head to the lake any chance we get.
