ButcherBox: Mike Salguero

How I Built This with Guy Raz

Guy Raz | Wondery

Business

4.8 • 31.1K Ratings

🗓️ 3 October 2022

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

Back in 2015, when Mike Salguero set out to buy some grass-fed beef for himself and his wife, he had to meet a farmer in a parking lot, who handed him the beef in a trash bag. Naturally, Mike figured there had to be a better way. At the time, he was running a company that was slowly cratering, and he didn’t know the first thing about sourcing or packaging meat. But he had a hunch that if he could figure it out, he could build a successful home subscription business, shipping humanely-raised meat across the country. Mike connected with farmers and packers, launched a Kickstarter campaign, and began working with food and fitness influencers to promote ButcherBox. Today, without taking on a shred of VC investment or even a bank loan, the company does roughly half a billion dollars in revenue.

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Transcript

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0:00.0	What is actually going on with the economy nowadays?
0:04.4	The price of gas, inflation?
0:06.5	Are we in a recession?
0:08.2	I'm Jeff Quo, co-host of NPR's Planet Money.
0:11.2	Come along with our super team of econ experts
0:14.1	as we delve into the stories that show you
0:16.2	how the world really works.
0:18.6	That's Planet Money from NPR.
0:22.0	What is the most important thing to do?
0:27.0	I gave that thing everything.
0:29.1	And it's hard when you're in failure
0:32.3	to not take it personally, to not be like,
0:34.6	this is my fault.
0:35.6	I'm doing something wrong here.
0:37.5	But so often, the business itself
0:42.1	does the business want to be a business or not be a business.
0:45.2	And so often, it's not up to us.
0:48.5	And if I could talk to my scared self back then,
0:54.5	it would just be like, a failed venture is not a failed entrepreneur.
0:59.5	I'm Guy Ross, and on the show today, how Mike Sorghero walked away
1:21.3	from a failed business, figured out how to source and ship
1:24.8	grass-fed beef across the country
	...

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