340: How Gabi Lewis dominated a $40 billion industry

Gabi Lewis, Co-Founder, The Magic Spoon In this yummy episode, Gabi Lewis, Co-Founder of The Magic Spoon, sits down with Nathan Chan to discuss his journey from founding the revolutionary EXO protein snack made from crickets, to dominating the $40billion a year cereal industry.  Listen in as Lewis reveals how he managed to get Tim Ferris and Nas as angel-investors onboard for EXO snacks, his journey into the competitive world of cereal, and how Magic Spoon continues to stay ahead of the competition. In this deep-dive interview, you’ll find out why Lewis swears by agencies, the opportunities in influencer marketing, and why product-fit is an absolute essential for any founder.  Lewis’ incredible journey from crickets to cereal is a not-to-be-missed lesson in entrepreneurship and the importance of saying “no”. Key Takeaways How Lewis started Exo Protein, selling cricket protein bars Recognizing the paleo food trend and targeting that market How Lewis got angel investors such as Tim Ferris and Nas His decision to sell the company and launch Magic Spoon cereal Why Magic Spoon is a direct-to-consumer product and the advantages of ecommerce The successful launch of Magic Spoon and the power of influencers Why product-market fit is the most important aspect of launching a business  How Magic Spoon was affected by Covid and the evolution of hiring and scaling The decision to not sell Magic Spoon on Amazon, and the power of customer-brand loyalty  Why Lewis believes that a high-quality product is the most important aspect of any business Lewis’ advice to others that as a founder, you should never be distracted, and why your job is to say “no”