631: He Built a $125M Brain Food Brand With Just 10 People | Will Nitze

The Foundr Podcast with Nathan Chan

Nathan Chan

Entrepreneurship, Business, Marketing

4.9 • 664 Ratings

🗓️ 12 February 2026

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will Nitze went from selling Linsanity T-shirts in his college dorm to building IQ Bar into a $125 million brain food empire—with just a team of ten people. No bloated headcount. No burning through VC cash. Just ruthless focus on unit economics and a contrarian approach to funding that let him scale aggressively while maintaining control. In this interview, the founder and CEO of IQ Bar breaks down how he turned a $73,000 Kickstarter into one of the fastest-growing CPG brands in America, why he believes bootstrapping is the worst thing you can do in food and beverage, and the exact moment—five years in—when he knew this could be a massive company. From cracking Costco and Whole Foods to reinventing the business over ten times, this episode is a masterclass in hyper-lean growth, retail strategy, and building a company like a knife fight. What you'll learn in this interview: • Why bootstrapping is the worst thing you can do in CPG • Will's contrarian fundraising strategy: raising less money, more often to maintain control • How he raised just under $10 million while still controlling the company • The exact moment, five years in, when he knew IQ Bar could be a big company • Why IQ Bar has reinvented its fundamental identity over ten times • How to navigate the cash conversion cycle while scaling physical products • Why retail is the "final boss" for CPG brands, even in the e-commerce era • The strategic shift from DTC to cracking Costco, Whole Foods, Walmart, and Target • Why consumers are less loyal every year and how more touchpoints solve that • How building a personal brand creates a network of category experts By the end of this episode, you'll understand how to scale a physical product business without burning cash, maintain control while raising capital strategically, and build the operational discipline required to survive in one of the toughest industries in the world. If you're building a CPG brand, navigating fundraising decisions, or trying to crack retail while staying lean, this conversation will fundamentally change how you think about growth, control, and category-defining execution. SAVE 50% ON OMNISEND FOR 3 MONTHS Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠⁠⁠ to get started. HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER Learn directly from 7, 8 & 9-figure founders inside Foundr+ Start your $1 trial → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠⁠⁠ PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING? → Starting from scratch? Apply here → ⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠⁠⁠ → Already have a store? Apply here → ⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠⁠⁠ CONNECT WITH NATHAN CHAN Instagram → ⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠⁠⁠ LinkedIn → ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠⁠⁠ CONNECT WITH WILL NITZE Instagram → https://www.instagram.com//willnitze/ LinkedIn → https://www.linkedin.com/in/will-nitze Website → https://iqbar.com/ FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES YouTube → ⁠⁠⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠⁠⁠ Website → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠⁠⁠ Instagram → ⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠⁠⁠ Facebook → ⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠⁠⁠ Twitter → ⁠⁠⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠⁠⁠ LinkedIn → ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠⁠⁠ Podcast → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠

Transcript

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0:00.0	Hey Founder Fam, I want to talk to you about something super exciting. We're officially partnered with Omniscend, the email marketing and SMS platform built specifically for e-commerce founders. We've been recommending OmnisCent to Founder students for a while now because it just works. Whether you're launching your first store or you're scaling the seven figures, it really helps you automate your marketing and get real results.
0:24.0	Did you know on average, Omnysend customers make $68 for every $1 they spend, which is an insanely good return on investment.
0:32.6	And because you're part of the founder community, you get 50% off your first three months with the code Founder 50.
0:39.3	Just head to Omnisend.com forward slash founder without the E to get started.
0:45.0	All right, now let's jump back into the show.
0:48.6	What if I told you that one entrepreneur went from hustling, selling Lin Sanity t-shirts in his college storm to
0:55.4	building a $125 million brain food empire with just a team of 10 people.
1:01.3	And he says, it never gets easy.
1:02.9	You just go faster.
1:03.9	Well, today's guest, Will Knits, the founder and CEO of IQ Bar, who's master the art of
1:08.1	hyper-lean growth in one of the toughest industries out there,
1:11.5	CPG, while most food brands burn through VC money and have bloated teams, will build a
1:17.2	protein bar company engineered for your brain using an unconventional funding strategy and
1:22.6	ruthless focus on unit economics. So in this episode, you're going to learn why Will
1:27.1	believes bootstrapping is the worst thing you can do in this episode, you're going to learn why Will believes bootstrapping
1:28.2	is the worst thing you can do in CPG, his contrarian fundraising approach of raising less money
1:34.6	more often to maintain control while scaling aggressively the exact moment five years in
1:40.3	when he knew IQ bar could be a massive company and how he pivoted from direct to consumer
1:45.7	to really cracking major retailers like Costco and Whole Foods and why he treats building a company
1:52.1	like a knife fight that requires constant reinvention to survive. So if you're building a physical
1:57.7	product business or you just want to learn how to grow faster with less,
2:02.1	this is an incredible conversation
	...

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