Ep 154 | Margaret Wishingrad
Building a Nationwide Cereal Brand by Being Super Scrappy & Resourceful, Breaking into an Industry with No Experience, and Maintaining a Positive & Abundant Mindset
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Margaret Wishingrad is the founder and CEO of Three Wishes, a company that produces a line of healthy breakfast cereals made from high-quality ingredients.
Before starting Three Wishes, Margaret was working in advertising and noticed a gap in the market for breakfast cereals that were both healthy and delicious when she was looking for some options for her son as a first-time mom. Fueled by her passion for healthy eating and entrepreneurship, she set out to create a cereal that would meet this need. Margaret spent two years developing Three Wishes, working with a range of taste testers to ensure that it met her criteria for being high in protein, low in sugar, and gluten and grain-free.
In this interview, Margaret talks about the challenges and setbacks they faced when launching Three Wishes, from validating the idea to getting co-packers to produce the first batch of cereal. She also shares how to get retailers invested in your product, run a successful omnichannel business, and create awareness with the brand while being super scrappy. Despite the challenges, Margaret achieved significant growth even during the pandemic, growing it to be a multi-million dollar brand while also being a mom to two young kids. Margaret also shares what some of her proudest moments have been as a mother and business owner, and so much more.
Show Notes:
Margaret tells us what she thinks the key attributes are for someone wanting to start a successful brand. [02:25]
Why a positive and calm attitude is imperative to business building. [04:26]
How meeting her husband made Margaret realize that she wants to be an entrepreneur. [06:56]
How Margaret built her confidence; the importance of positioning yourself correctly. [08:20]
The biggest learnings Margaret and her husband had from working in advertising. [10:54]
Why starting your own brand is so much better than working for an agency. [12:48]
Where the idea for Three Wishes Cereal came from and how Margaret started her brand. [14:06]
Margaret walks us through her research and development process for Three Wishes Cereal. [20:58]
The importance of focusing on your product launch, creating a good plan of attack, and how they got an audience with retailers. [24:12]
Why you have to include your retailers in the creation process so they invest in your success. [27:37]
How Margaret and her husband handled growing their audience during COVID and what their supply chain looked like. [29:15]
Margaret shares some interesting things her company has done to promote their brand. [35:18]
Margaret defines her and her husband's roles in their business for us. [38:41]
Why Margaret doesn’t like fundraising and has stopped seeking capital. [40:34]
Margaret shares some words of wisdom about how she juggles being a CEO and mother: ask for help! [45:18]
Our guest tells us about the proudest moments in her life. [49:58]
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Follow Mia:
Website: https://threewishescereal.com/
Instagram: https://www.instagram.com/mbwish/
