This guy sold his company to Unilever for $1.2B after just 3 years
Executive Summary
My First Million episode 817, in which hosts Sam Parr and Shaan Puri talk with Chad Janis, who says he sold his gummies business, Gruns, for more than a billion dollars in under three years. Chad tells the origin story, saying the gummy idea came in about a day and that he moved to launch within a week of the idea. He argues that new formats win, shares his view of world-class ecommerce marketing, says a better product is usually what separates good from great, and describes how earning trust by doing good work gave him access to mentors and opportunities. Sponsor named in the description: HubSpot. PARTIAL COVERAGE: this note draws on the opening, the origin story, the format and marketing sections, the access discussion and the closing, and may miss details of the roughly 63 minute video. Sales figures, valuations and views on competitors are the speakers' own and not independently checked. Nothing here is financial, investment or health advice.
Key Takeaways
Zero to a billion
The episode opens with the claim of going from zero to over a billion dollars in 32 months.
Origin of the idea
Chad says coming up with gummies took about a day and he started working on it within a week.
New formats win
He says the greatest odds of success come from creating a new format.
Ecommerce marketing
He gives a ten-minute view of what world-class ecommerce marketing looks like, including testing creative.
Better product
He says the thing most often missing between average and great is simply a better product.
Reputable business
He says some loud direct-to-consumer operators are still learning what is appropriate and that clean business habits come with time.
Access is everything
He says he earned access by doing good work for mentors who then helped him, rather than being born into it.
The Conversation Breakdown
Zero to a billion
⏱ Untimed topicThe episode opens with the claim of going from zero to over a billion dollars in 32 months.
Origin of the idea
⏱ Untimed topicChad says coming up with gummies took about a day and he started working on it within a week.
New formats win
⏱ Untimed topicHe says the greatest odds of success come from creating a new format.
Ecommerce marketing
⏱ Untimed topicHe gives a ten-minute view of what world-class ecommerce marketing looks like, including testing creative.
Better product
⏱ Untimed topicHe says the thing most often missing between average and great is simply a better product.
Reputable business
⏱ Untimed topicHe says some loud direct-to-consumer operators are still learning what is appropriate and that clean business habits come with time.
Access is everything
⏱ Untimed topicHe says he earned access by doing good work for mentors who then helped him, rather than being born into it.
Core Frameworks & Ideas
New formats win - Chad's thesis
Look for a new format rather than a better version of the same thing.
Earn access by doing good work - Chad's approach
Make life easier for people with access so they back you.
Better product first - Chad's marketing view
Marketing cannot replace a product that works.
Actionable Next Steps
- ✓Check the sales, valuation and timeline claims against company or press sources.
- ✓List the formats in your own category and ask which one is not yet done.
- ✓Test your marketing by asking whether the product itself is the weak point.
- ✓Treat any health-related claims about products as the speakers' views, not advice.
Notable Quotes
“New formats win.”
“Have a better product is typically what it comes down to.”
“I earned their trust.”
The One Thing to Remember
Chad Janis says that creating a new format, a genuinely better product and earned access can take a consumer brand from zero to a billion-dollar exit in about three years.