How I Built This with Guy Raz
Guy Raz | Vox Media
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MadeGood: Salma and Nima Fotovat Lost Their First Business.They Grew Their Next One Into a Snack Giant.
What do you do when the family business you've spent decades building... gets bought out from under you? That’s what happened to Nima and Salma Fotovat. Devastated, the family rebuilt a new company from the ground up. This time they set out with a new idea: build an allergen-free, organic snack brand not just for kids, but their parents. Their new brand: MadeGood. Today, the Canadian brand’s parent company does hundreds of millions of dollars in sales. But getting there meant rebuilding from scratch, fixing 200,000 mislabeled snack bars by hand, and turning a family of co-packers into branding experts. What you'll learn: How owning manufacturing can be a competitive edge How they grew a national brand with almost no marketing. Why it can be a winning strategy to say "yes" before you know how Introducing new products: the tension between research and emotion The mindset that can help you rebuild after a devastating setback Timestamps: 3:40 - Growing up in Iran during wartime, and emigrating to Canada 09:30 - Their dad’s new business: “Why are North Americans not eating nougat?” 17:00 - Building the family’s first snack bar brand—and losing it overnight 29:40 - The next business: going all in on healthier school snacks 37:50 - Fixing a 200,000-bar production error with alcohol wipes 42:20 - Landing MadeGood’s first retail store 45:00 - The 100-mile radius marketing strategy 51:00 - The lure of new products: from human treats to dog treats Learn more about your ad choices. Visit podcastchoices.com/adchoices
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