The Nugget

Justin Gold transformed the sleepy peanut butter market by innovating with unique flavors and on-the-go squeeze packs, ultimately selling his company for $281 million. His journey emphasizes the importance of hard work, community support, and seizing opportunities.

Make it stick

🥜 Reinventing peanut butter: Justin found success by using unique flavors and formats.
💡 Community counts: Local support from stores and markets helped build his brand.
🚴‍♂️ Adapt and innovate: Inspiration struck during a bike ride, leading to a game-changing product.
🌍 Timing is everything: Justin acknowledges the vital role of luck and location in his success.

In 2004, Justin Gold, a biker and vegetarian, became dissatisfied with conventional nut butters.
Experimented with flavors in his kitchen using ingredients like cinnamon and Sriracha, which drew attention from his roommates.
Realized the potential for a business while seeking guidance from local natural food companies in Boulder.

Justin entered the local farmer's market, testing his products and gathering customer feedback on various flavors.
Initially struggled with production costs, continuing to wait tables while selling products like peanut butter and almond butter in local stores.
Innovated by creating the first commercial nut butter squeeze pack in 2006 after being inspired on a mountain bike ride.

After launching the squeeze pack, he gained significant orders from stores like Whole Foods and eventually chains like Target.
By 2015, Justin's company was generating over $50 million in sales annually.
Hormel approached him about an acquisition in 2015, initially declined, but after further discussion and assurance about the company's future in Boulder, he agreed.

Justin emphasizes the importance of hard work and being prepared for luck when opportunities arise.
Building a successful company isn't solely about the end goal; it’s about creating something others want to buy and maintaining community and values.
Eventually left Justin's in 2021, reflecting on his journey as a combination of effort and favorable timing.

"The dream is one thing, and then the reality of all the steps it takes to achieve that dream is overwhelming."
"You never want to build something that you want to sell. You want to build something that somebody wants to buy."
"There was a small window of opportunity and I was able to disrupt a category that was kind of sleepy at the time."
"It wasn't about just making peanut butter; it was about creating a community around it."
"I feel a lot of gratitude for the support of my peers in Boulder."

This summary contains AI-generated information and may have important inaccuracies or omissions.