OPERATORS E109: Will Sold 100 Million Protein Bars
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Apr 23, 2025 In this discussion with Will Nitze, founder of IQ Bar, listeners learn about his remarkable journey from software to the health food industry. He shares the hurdles of launching a consumable product against a backdrop of rising cocoa prices and fierce competition. Crowdfunding played a pivotal role in his success, illustrated by his innovative fundraising methods. Will also highlights essential strategies for e-commerce growth, building a profitable brand, and navigating the complexities of today's rapidly evolving food and beverage market.
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Creative Kickstarter Launch Tactics
- Will Nitze launched IQ Bar via Kickstarter with no initial money for advertising.
- He creatively extracted tens of thousands of emails from Harvard alumni directories to market directly and raised about $40,000 in sales.
Pick Angels Unfamiliar to Industry
- Raise initial capital from angel investors unfamiliar with your industry.
- This avoids informational asymmetry and secures more straightforward investments early on.
Crowdfunding Solves Initial Demand
- Crowdfunding solves the chicken-or-egg problem in consumables production.
- You need upfront customers to consume initial large inventory batches, else risk spoilage.