340: How Gabi Lewis dominated a $40 billion industry

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 12 January 2021

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gabi Lewis, Co-Founder, The Magic Spoon In this yummy episode, Gabi Lewis, Co-Founder of The Magic Spoon, sits down with Nathan Chan to discuss his journey from founding the revolutionary EXO protein snack made from crickets, to dominating the $40billion a year cereal industry. Listen in as Lewis reveals how he managed to get Tim Ferris and Nas as angel-investors onboard for EXO snacks, his journey into the competitive world of cereal, and how Magic Spoon continues to stay ahead of the competition. In this deep-dive interview, you’ll find out why Lewis swears by agencies, the opportunities in influencer marketing, and why product-fit is an absolute essential for any founder. Lewis’ incredible journey from crickets to cereal is a not-to-be-missed lesson in entrepreneurship and the importance of saying “no”. Key Takeaways How Lewis started Exo Protein, selling cricket protein bars Recognizing the paleo food trend and targeting that market How Lewis got angel investors such as Tim Ferris and Nas His decision to sell the company and launch Magic Spoon cereal Why Magic Spoon is a direct-to-consumer product and the advantages of ecommerce The successful launch of Magic Spoon and the power of influencers Why product-market fit is the most important aspect of launching a business How Magic Spoon was affected by Covid and the evolution of hiring and scaling The decision to not sell Magic Spoon on Amazon, and the power of customer-brand loyalty Why Lewis believes that a high-quality product is the most important aspect of any business Lewis’ advice to others that as a founder, you should never be distracted, and why your job is to say “no”

Transcript

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0:00.0	This is episode number 340 with Gabby Lewis of The Founder Podcast.
0:07.1	What you need is thirst.
0:08.8	You need to be a thirsty human who is intent on learning.
0:12.8	It's a really fascinating exploration of human potential.
0:18.6	The Founder Podcast.
0:21.7	Even the greatest entrepreneurs had help.
0:24.6	If you want to learn from the most successful founders on the planet, you are in the right place.
0:30.3	Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Arianna Huffington, Steve Case, Gary V, Sophia Amoroso,
0:35.5	Barbara Corcoran, Damon John.
0:37.4	Learn from the greatest minds in business today with interviews hosted by Nathan Chan. This is not your average entrepreneur podcast. The Founder Podcast.
0:52.6	Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let you know that our goal at founder is to help entrepreneurs succeed however we can by giving away high quality content in the form of interviews, blog posts, podcasts, YouTube videos, you name it. We put out so much content to help you.
1:13.6	And another interesting project that we're working on right now is partnering with world-class
1:18.5	founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach crucial skills
1:25.1	like negotiation, finance, e-commerce and so much more.
1:30.3	So if you'd like to get access to these free trainings with founders like this, which is 100%
1:37.0	free, just go to founder.com forward slash free. Okay, so now let's talk about today's episode.
1:44.4	What's going on, Founder Fam?
1:46.0	Hope you're doing well wherever you are around the world.
1:49.1	And I hope you're having an amazing start to 2021.
1:52.8	Let's make this the best year yet.
1:56.4	So let's talk about today's guest Gabby Lewis.
2:00.5	And he's one of the founders of a company called
	...

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