Tuesday, November 7th

💸 Who Wants to be a Millionaire?

November 07, 2023

What’s In This Email

  • Who wants to be a millionaire?

  • Don’t call it a comeback; how this chocolate brand pivoted to success

  • Ghosting someone after 8 years is WILD!

  • We Work files for bankruptcy

  • Notable Spotlight: La Cave a Manger

  • Notable Plug 🔌

✍️ TAKE NOTE /

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

Photo by Mikhail Nilov

In a climate of economic uncertainty, the wisdom of Warren Buffett's investment strategies shines as a beacon for entrepreneurs and individuals alike. Buffett's approach is a reminder that wealth is not just about earning but also intelligent saving and spending.

Key Takeaways

  • Pay Yourself First: Instead of waiting for a big company to exit, individuals should practice financial discipline by saving and investing consistently and early.

  • Frugality with Luxury: Buffett advises buying lightly used cars and homes that can resell easily or generate rental income. Only a small portion of income should go to luxuries, balancing financial discipline and personal presentation.

  • Avoid Unnecessary Debt: Following Buffett's principle, avoid buying unnecessary items on credit, which can lead to financial waste. Operate with cash where possible and use credit cards strategically to maintain a high credit score without accruing interest.

  • Invest Wisely: Be cautious about investing with borrowed money. However, a fixed-rate loan on a single-family home can be an exception, as it can become a valuable investment over time.

How to Turn a Business Setback Into Success

Mid-Day Squares turned a potential legal battle into a branding triumph. When faced with a cease-and-desist from chocolate giant Hershey’s, the Montreal-based startup spun the setback into a social media sensation, demonstrating the power of creative marketing and transparency. Their journey from a kitchen experiment to a multi-million-dollar business is a testament to the innovative spirit of entrepreneurship.

@middaysquares

Bold and unapologetic. That’s us. #middaysquares #chocolate #vegan #foodlover #plantbasedrecipes #protein #snacks #glutenfree #startup #s... See more

Key Takeaways

  • Mid-Day Squares, co-founded by Jake Karls, his sister Lezlie Karls, and her husband Nick Saltarelli in 2018, aimed to create a modern, healthy chocolate bar.

  • The Montreal-based company, known for its low-sugar, high-protein plant-based snacks, grew to over $9 million in sales by 2021 with 36 employees and a large factory.

  • After declining an acquisition offer from Hershey’s, Mid-Day Squares faced a cease-and-desist letter for their orange packaging, which Hershey’s claimed infringed on its Reese’s branding.

  • To avoid costly litigation, the company changed its packaging colour and used the incident as a marketing opportunity, sharing their story on social media.

  • They created a viral music video parody, "Chocolate Gone Crazy—A Hershey’s Diss Track," which gained significant attention and media coverage, helping to launch their brand in the U.S.

  • The company's annual revenue increased from $9 million to $15.2 million, and they expanded their product line and distribution, projecting about $30 million in sales for 2023.

  • Jake Karls advises other companies to be transparent with consumers and use setbacks as storytelling opportunities to strengthen brand connection.

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 🌐 AROUND THE INTERWEBS  

Put a finger down if you were dating someone for 8 years, and then one day he just ghosts you.

She dated him for 8 years.

EIGHT.

He got a an opportunity to play hockey overseas.

Then ghosts her… There are no words.

& It doesn’t end there, folks, oh no. Watch the clip!

We don’t Work.

The rockstar of co-working spaces officially files for bankruptcy.

🔦 NOTABLE SPOTLIGHT 🔦

If this isn’t the most delicious-looking croissant you’ve ever seen…

Next time you’re in Montreal, check out these irresistible croissants!

🔌  NOTABLE PLUG

🎙️ Get Into It: In The Mel Robbins Podcast, Mel gets more personal than ever, welcoming you into her life and taking you behind the scenes in real-time. Every episode is packed with deeply relatable topics, tactical advice, hilarious screwups, compelling conversations, and the tools and inspiration you need to create a better life. Listen on Apple or Spotify.

📄 Notable Hires: Vertical Product Marketing Lead @ TikTok.

🎓 Hope This Helps: Pth.AI is an AI-powered tool that expertly guides professional business users toward their goals by asking questions and creating steps, making it easier to interact with AI systems.

🧠 Today, We Learned: Pink-slime journalism, which is when untrustworthy American news networks disguise themselves as local news outlets. Over 1,000 pink-slime news outlets exist, pretending to be locally run but producing low-quality news from afar that's meant to benefit a political party.

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