The Story of Mid-Day Squares | Nick Saltarelli (Cofounder, Mid-Day Squares)

TL;DR

Midday Squares, a functional chocolate company, started in a condo and grew to $26 million in revenue in just five years. The founders used social media and a unique product to build their brand and attract customers. They faced challenges in finding a contract manufacturer and decided to build their own manufacturing plant. Their strategy of focusing on their local market and maintaining product quality and customer satisfaction helped them achieve product-market fit and grow their business.

Transcript

we were getting rejected left right and center and this is where we came up with the idea of Christ out what we believe we can do at scale of midday squares build a road map of how we get to that scale and start Manufacturing in our condo by hand and that's what we did we went on Instagram we started shouting to the world that we were about to star... Read More

Key Insights

• ◼️ Midday Squares grew to $26 million in revenue by utilizing social media and building a strong brand presence.
• 😀 The founders faced challenges in finding a contract manufacturer and decided to build their own manufacturing plant.
• ✋ The company achieved product-market fit by focusing on their local market and maintaining a high level of customer satisfaction.
• 🔉 Midday Squares overcame logistical challenges during COVID-19 by leveraging media relationships and seeking help from government authorities.
• 🤝 They emphasize the importance of grit and perseverance in dealing with the challenges of entrepreneurship.
• 👨‍💼 Building an audience and fan base can provide long-term dividends for a business.
• 👨‍💼 Seeking support from a therapist or counselor can help entrepreneurs navigate the emotional challenges of building a business.

Questions & Answers

Q: How did Midday Squares attract customers and build their brand?

Midday Squares used social media and behind-the-scenes content to engage with customers and create excitement around their product. They shared their journey openly, allowing customers to be part of the brand building process.

Q: Why did Midday Squares decide to build their own manufacturing plant?

Midday Squares faced challenges in finding a contract manufacturer that could produce their unique product to their standards. They made the decision to build their own manufacturing plant to have full control over the production process.

Q: How did Midday Squares achieve product-market fit?

Midday Squares focused on their local market of Montreal and created a product that was both delicious and had desirable nutritional qualities. They used word-of-mouth marketing and customer satisfaction to validate their product-market fit.

Q: How did Midday Squares navigate the challenges of COVID-19?

Midday Squares faced logistical challenges due to COVID-19, such as delays in machinery installation and travel restrictions for engineers. They leveraged their relationships with journalists and media outlets to raise awareness and seek help in resolving these issues.

Summary & Key Takeaways

• Midday Squares went from a condo-based start-up to a $26 million revenue company in just five years.

• The founders used social media and behind-the-scenes content to engage with customers and create a buzz around their product.

• They faced challenges in finding a contract manufacturer and decided to build their own manufacturing plant.

• The company focused on their local market and maintained a high level of product quality and customer satisfaction.