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75. Growing An 8-Figure Brain Food Brand w/ Will Nitze
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Growing a food brand is no walk in the park, let alone growing one to $25m in sales.
But that’s exactly what Will Nitze - this week’s podcast guest - has done with food brand IQBAR in just 5 short years.
In this insightful episode, we talked through the entire journey, including:
- How he came up with the idea
- How he funded its growth through crowdfunding and rounds of investment
- What the research, development, and testing processes looked like
- How Amazon compares to other channels like DTC
- And so much more!
Will is a savvy operator and this is an episode not to be missed!
Episode Links
- Grab an IQBAR or ten
- Connect with Will on LinkedIn
Additional Resources
- Get our weekly Brand Builder Newsletter
Talking Points
- 00:00 - Introduction to Guest: Will Nitze
- 01:21 - Will's Entrepreneurial Journey and the Story Behind IQ Bar
- 07:42 - Exploring Brain Food: What It Is and Its Benefits
- 10:15 - Avoiding Hard Claims for Supplement Brands
- 12:36 - Creating IQ Bar's Unique Recipes
- 14:45 - Journey with Manufacturers
- 16:20 - Starting Number of Units: Initial Production Considerations
- 17:33 - Launching with Kickstarter: Funding the Business
- 20:05 - Revenue Targets and Channels
- 22:24 - Dealing with Copycat Players: Navigating Competition
- 26:30 - Omnichannel Business Model
- 30:23 - Cash Flow Challenges: Scaling Up and Managing Finances
- 33:10 - Financing Routes: Options for Funding Growth
- 34:27 - Beyond Cash Flow: Addressing Other Scaling Challenges
- 37:10 - Managing Shareholder Pressure
- 38:20 - Will's Workweek Insights
- 39:43 - What's Next for IQ Bar? Future Plans and Innovations
- 42:39 - Discover More about Will: Where to Find Additional Information
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