The Mac and Cheese Millionaire | Erin Wade

The Knowledge Project with Shane Parrish

Farnam Street

Business, Investing, Entrepreneurship

4.7 • 2.9K Ratings

🗓️ 17 September 2024

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Erin Wade discusses her journey from being a practicing lawyer to making mac and cheese...as a business. Wade shares how surfing became a personal escape while managing a busy life as a CEO and mother, and how she applied lessons from her career to build a restaurant known for its strong workplace culture. She introduces the concept of open book management, which empowers employees by involving them in the company's financials and decisions, leading to higher engagement and performance.
Erin also highlights her innovative approach to tackling sexual harassment in the workplace with the “color code of conduct,” a system now used globally in the restaurant industry. She reflects on the power of titles in shaping both external perception and self-identity, and the importance of managing for impact rather than intent. The conversation is packed with insights on leadership, culture-building, and how to create work environments where employees feel valued and empowered.
Erin Wade is a chef, author, and entrepreneur. She is the Founder and CEO of Homeroom, a restaurant in Oakland, California, known in equal parts for its unique workplace culture and incredible macaroni and cheese. She has a degree in public policy from Princeton University and a law degree from UC Berkeley.

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(00:00) Intro

(02:30) Wade's surfing obsession

(04:42) Defeating overthinking

(05:00) Wade's background in food

(06:40) Wade's law detour

(10:20) On being fired

(12:40) Early mistakes and freedom

(20:00) Employee-centric companies

(32:30) Homeroom Hard Times

(34:40) How Wade's law background helped (and hurt)

(42:40) The Color Code of Conduct

(49:30) Why Wade sold Homeroom (and how she felt)

(55:58) Impact vs. Intent

(59:00) Why titles are important

(01:04:00) On success

Transcript

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0:00.0	I had been coming home on a day that was just super depressing.
0:03.3	And all I wanted to do is curl up in front of the television,
0:05.8	which was just like a big bowl of mac and cheese.
0:07.8	But I realized that there was no place I could go
0:10.6	to get really good mac and cheese, which is sort of nuts. I pulled out the
0:13.8	recipe that I had grown up making with my dad and made this delicious bowl of
0:17.5	mac and cheese and I'm sitting on my couch and eating it when I sort of have this
0:20.8	aha moment thinking huh there was no restaurant I could go to get this.
0:24.7	This restaurant should exist. I think I should open it. And so when I got fired, I was like,
0:29.1	this is my moment to try this bizarre idea of opening a mac and cheese restaurant.
0:33.9	If I fail, I'll just be back to what I was already doing,
0:36.8	which is to sell my soul to make a lot of money working as a lawyer.
0:40.0	I realize that my worst case scenario was basically the life I was already living. Welcome to the Knowledge Project. I'm your host, Shane Parish.
0:55.0	In a world where Knowledge is Power, this podcast is your toolkit for mastering the best of what other people have already figured out.
1:01.0	If you're listening to this, it means you're not a sporting member. Members get early
1:04.6	access to episodes, my personal reflections at the end of episodes, no ads, exclusive
1:10.4	content, hand-edited transcripts, and more.
1:13.0	Check out the link in the show notes for more information.
1:15.4	My guest today is Aaron Wade, who turned Mac and Cheese
1:18.4	into a multi-million dollar empire.
1:20.6	We talk about the mistakes she made starting out as a first-time founder with no experience in industry,
1:25.6	empowering employees, open book management, her unique and viral policy on harassment,
	...

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