I went to school in Boulder in the 2000s and everyone ate Justin’s peanut butter and almond butter. They were also super supportive of the community and donated products to lots of different events and organizations. I remember seeing their chocolate peanut butter and almond butter cups for the first time and was super impressed by their creativity and willingness to try new things. Super happy for their success.
Justin’s modesty is great. He might’ve had some luck, but if he wasn’t prepared then the opportunities wouldn’t have been available for him. Excellent story!
"Plant Based Experience" He's not Humble or Modest, just ask him why he doesn't eat Meat, and I'm sure you'll see the problem. Way to Jerk someone off, you call a "Nutbar" a "Plant Based Experience". That tells me all I need to know about the type of Person you are.
@@StanHowse my comment had absolutely nothing to do with his diet. I was referring to his journey as a business owner. Your written comment tells me that you need an English refresher course on punctuation, reading comprehension and you might as well throw in a listening course too. And it sounds like you definitely need some therapy and a lot of hugs. You have a lot of aggression. But that’s fine because a lot of us do.
He was "lucky" to have the right idea at the right time. There was not so much competition at that time and it was easier to place a new product. The other main leg on his success was the initial credit of 75K for a roommate's parents. I guess banks were not interested and he had no funds himself to finance that. This is where most dreams shatter. Unfortunately. He seems to be a very nice humble down to earth guy.
I agree, just as the non-meat wave was starting to peak. In regarding to loans: Bank I don't think would touch this stuff. They want slam dunk businesses for loans or business with lots of cap-ex/equipment that they can repo if things go south. What I notice that lots of these business need the "Bank of Family and Friends" to get that initial funding. It appears to be important to have a strong network and base. Not all come from families with lots of resources, so friends and other people in the network can bridge that gap if needed.
I agree, but I also know a TON of people with 75K to start something and they would never be as successful as this guy. He's clearly very smart and mastered the business in no time, so props to him
@@nach000x Yes, that's for sure. He had his vision and followed through. I know a lot of people with a lot of money, but they're all afraid to risk something, because they might fail. He was not successful because of the 75k, but he could bring his business to another level. Without it he would probably still selling selfmade peanutbutter on farmers markets.
@@psk305 i know that it was a lot of hard work, but my point was would he be able to go on with his business without the 75k loan? Sometimes you just need money to step up and if you don't have that... it's the end for the most businesses.
finally someone who got super rich with a great idea/product who admits that's still also a lot of luck to achieve it. Most billionaires or multimillionaires are like "everyone can achieve that" but most of them had the luck to be born in a rich family to get the capital, meet the right person at the right moment or whatever else. In his case without the 75k from his mates parents he may have never achieved it because another company could have learned about it before he had the chance to sell it to the bigger stores. It's still 100% his achievement but there are millions who have awesome ideas but only 1% of them will really have the luck you need not to get stomped before you can realize your idea.
he literally said he borrowed money from his roommate to afford starting his business. stop making excuses for not being successful, yes almost anyone can make it if they keep taking opportunities and risks
What he did was 1) have the idea and then 2) he actually started to make the peanut butter. Once he started on the path then the pathway opened for him.
I know what you mean, that there are elements of a persons success that are based on luck or circumstance, but I wouldn’t necessarily call it luck that he got a $75k loan. Most businesses need loans or investors to grow, so it’s part of the job of growing a company to find those lenders/investors. If he didn’t get it from his friend’s parents and he was motivated (which it seems he was), he could have likely found a different lender/investor.
6:04 Finally one of all those entrepreneurs says it: It just comes down to luck. No matter how good your idea or product is, if you don't know people that can help you realize it, you just won't succeed. If you aren't at the right place at the right time, you won't succeed. Many people forget this. You need help and luck, lots of it. It's the same with all those thousands of online print on demand and clothing businesses. Only a fraction of them are successful.
An important note tho is that there are different kinds of luck. This wasn't the sort of luck that just descended upon him and changed his life. He was working on something and got lucky with finding the right opportunities and then got luckier by making the right choices to capitalize on them.
@@TheLuggi84 cool, yeah I wanted to just add to it. Agreed on everything. Ultimately, that's why the stories of so many of the great entrepreneurs include failed businesses you've never heard of in the beginning. The lesson is, to get lucky... Keep trying, keeping taking shots. Eventually, one of them might hit their mark. And really, even in Justin's story: he had put so much into it with the initial peanut butter products and they weren't covering costs. At that stage, the business was on a trajectory to fail if he stopped pushing. It was only by essentially taking another shot with the squeeze packs that he truly got lucky and found the success that would inspire this story to be written at all.
Similar to Steve Jobs. He was raised in Silicon Valley. What if he had been raised in Akron, Ohio or Tampa, Florida? In the Bay Area he could easily reach out to heavy hitters in gaming and computers like Atari and HP. The stars aligned.
Luck had nothing to do with it. He had an idea, and he executed it. Nobody magically handed him money out of nowhere. THAT would be luck. He created a good product, did his homework, and presented the idea to someone with capital, which EARNED him the loan. He WORKED for it. It wasn't magic lucky money from the sky that surprisingly blessed him. He worked hard and carved an opportunity for himself
Justin is an amazing person! I emailed him and he personally responded! He values his customers and he’s incredibly kind. His product line is super healthy and delicious. He has my utmost respect. ❤️
values them enough to opt out of using avocado oil or coconut oil and instead puts pro inflammatory oils like palm into his peanut butter.....he cares so much. You are truely delusional, wake up. Seed oils are destroying your health because they sit around and oxidize.
I would have loved to taste his earlier versions. The current version has palm oil, which they probably thought was necessary for scaling up the company. Its sad because it cheapens the integrity of the product. These days, a premium nut butter is made just with nuts, no added oils or filler.
My guess, is that to scale you have to figure out a way to make an emulsifier. I do think that most people do not like the oil separation and palm oil would be an easy way to mitigated this from happening too much.
@@KOSMOinfinite the main reason is palm oil is super cheap. I'm from a country producing palm oil. Thanks for using palm oil. I get it we all don't want cheap oil in our diet, but your buying habit decides businesses' decisions. As long as people keep buying products with palm oil in it, businesses are gonna keep using it.
This was some of the most disappointing peanut butter I have purchased, and also the most expensive. It tastes like smooth putty. Whole Foods has grinders which are 100x better.
I've eaten early Justins peanut butter before. It was literally just peanuts. It was not very good. It was like eating ground peanuts in oil basically.. Also their branding was really weird like the back said something along the lines of his wife was named Justin, his kids were named Justin, his dogs were named Justin.. The peanut butter was like $8
4:29. This is where most peoples journey ends and the dream dies. Borrow $75,000 requires self belief and willingness to take risk when the time is right. Most people are too afraid to fail and never do anything.
Well, if you think about it you can mitigate the risk pretty much. If you flop, you're not gonna lose the whole 75000. You buy a second-hand machine for 75000 in order to check the viability of the product. If it sucks and you never get any sales, you re-sell the machine for around the same price, or a little less. But it's definitely worth it to attempt, even if it will cost you like 5000 dollars of savings when you resell it a little lower. Have to take that risk. It's just that most people see a big sum of money and are too scared. Investing 75000 without any backup plan would be stupid.
Most people aren't too afraid to fail, but because they do fail. This success story is 1% rest 99% of the startups fail. It's like saying one person survived jumping from an airplane without parachute so why don't you jump?
7 หลายเดือนก่อน +226
As an owner of a similar nut butter brand, distrupting another area of the category, I have to say that I love his passion and how he was able to sum it up in a nutshell (pun intended). We are probably where Justin was in 2012-13 talking to WF, Wegmans, Target, testing out products in farmers markets across SoCal and getting traction nationwide but if I had to stress one thing from this, it’s that you gotta be in the right place at the right time. Hard work is expected but it means nothing without luck. And you increase your luck by being out there and staying relevant and consistent. So if you’re reading this and trying something on the side, keep doing it. It only takes one good person to look into your direction sometimes and it just snowballs after that. Good luck!!
I suggest you watch the latest video of “Diary of CEO” Something about $100 million dollar company They have some good tips and ideas that could probably shift your mindset.
The honestly and humility of his "lucky" comment was really gratifying to hear. Success within a system like capitalism requires luck, and yet it's so rarely acknowledged. Focus, consistent effort, a willingness to adapt, and, yes, luck. Thanks, CNBC, for leaving that last point in.
@Mryetti26 That's because people overlook the 'tech' failures... From what this video shares, this was Justin's first business and it was a very successful exit... That is extremely rare. I sold my first business, then thought it was easy and had two massive Ls...
@@loveurselfilm inflammatory oil because it sits for a long time and oxidizes; oxidized linoleic acid is highly inflammatory because its an oxidized omega 6 that your body can't digest. It will ruin all your metabolic functions like fat burning; we are in a epidemic of obesity from our lack of education on the same thing you asked why? about. It's not the sugar its the oils that have destroyed our bodies on top of excess eating, you should eat once a day if that maybe every other day, we did it for thousands of years, go learn about it.
@@loveurselfilm in 65 years sugar has only gone up in our daily food consumption, backed by recent data if you check out Dr berg newest video on youtube, by only a margin. The thing that has skyrocketed into our daily diets in the past 65 years are the oils like palm oil. Please watch Dr Bergs newest video with an eye surgeon on it.
Honestly the fact that he was hustling working retail and as a serving may have been a blessing as it likely gave him blocks of time during the day where he could do things such as product demos at the stores during standard working hours.
How do you just start producing without first acquiring the necessary licences and permits? What about hiring a lawyer as well to protect your business from potential lawsuits? How about a food inspector walking into your kitchen and telling you about necessary upgrades and a hygiene policy and procedures? Can someone really just start producing a food product like that in a home kitchen with roommates around? Why not present the full story with all the details so others can learn.
The story of Justin is super inspiring, showing the power of pivoting and innovation. Sometimes, the key to profitability lies in streamlining operations and focusing on the product's unique selling proposition to differentiate it from competitors. Also, never underestimate the value of packaging and branding in creating a premium perception.
Huge respect for him acknowledging that while he worked hard, he also got very lucky. I feel like a lot of successful business owners, especially the ones who claim to be "self made" (most of them really aren't) ignore this fact. Mark Cuban himself said if he was stripped of everything, he doesn't know that he could become a billionaire again even with his knowledge now.
actually, it used to be that way i sold a product into my local whole foods and i was shocked at how easy it was. they were also excited to help me "take over whole foods." it didn't work for other reasons, but if you have a good product with a good brand story i found most supermarkets were interested. i had no trouble getting meetings, and only one chain of the seven i approached said no flat out all six others gave me a shot in multiple stores - and that was in frozen, the most expensive real estate in the store.
It's incredible how globally connected we are right now. Me , from Medellin, Colombia, witnessing such business idea(healthy, profitable and just delicious) while being a peanut butter addict since my vegan years experiences. Now this idea is into another whole level, feeling inspired by it to bring it into this country and chance our feeding habits for good.
from my experience people with money are more than willing to loan someone or even gift if they have a clear and concise plan to make it back with the determination to make it happen.
Step number 1: Be rich enough to have friends with parents who have $75K disposable income to fund an idea you got during your leisurely mountain biking. Great video though. Love organic PB.
Skippy Creamy Peanut Butter actually uses better ingredients. I stopped consuming Justin's shortly after trying it and reading the ingredient list--it uses palm oil. No, thanks.
G2G makes the best peanut butter you will ever taste. It is flavored with a bit of honey and they use coconut oil. I can literally eat a whole small jar of it in one sitting. Oh, it costs $5.99 for a 16 oz jar
They bought him because they were scared it would grow to a bigger brand & competition by expanding to more products. This could have become a billion dollar brand.
"it is a trick andre, dont you see?!" "We do it so people feel like it is an open economy and make something. Come up with new ideas." Do you hire them? "Sometimes. Sometimes they don't really match and we take their idea, make it better.""Sometimes we want them to be here so they can come up with more ideas later on.""Sometimes we just come up with all the good ideas inside and I really don't know what the outside is for." "No! We need them. For money, transfers, who r es.
It's a good tasting nut butter and I've always enjoyed their butter cups as well. But I do wish it was a cleaner product, that didn't include palm oil. It's not like it's not possible either. Because there's plenty of almond butters like from Whole Foods 365 brand and Costco's Kirkland brand. That's made with nothing but nuts and salt.
HEB has their own nut butters here in Texas that I swear by, under the ‘Central Market’ name. Also just peanuts and sea salt-or I usually get the unsalted variety, which is just dry roasted peanuts blended in their own natural oil. However, consumers buy into the flavor, taste, branding and marketing-and in that way Justin’s has always stood out on the shelves. It’s sort of like the “luxury” peanut butter for the Tesla driving crowd. Women also love that name because of Timberlake and Bieber.
I can't tell if Justin's is actually better than the others but it's awesome and they get me to pay like $15 for a jar at my local store in NYC every time.
Plenty of hard work. The real luck was having someone that could give him 75 grand. Without that, who knows how long it would take to save that much. Or if the company lasts without that loan.
CNBC, PLEASE DON'T EVER STOP THESE EPISODES OF FOUNDER EFFECT ETC ALL THE OTHER SHOWS ON YOUR CHANNEL.... WE LOVE IT!!!
yes these are awesome inspirational stories, we have tons of food entrepreneurs succeed as well its an amazing environment.
Agree.
Agreed
I went to school in Boulder in the 2000s and everyone ate Justin’s peanut butter and almond butter. They were also super supportive of the community and donated products to lots of different events and organizations. I remember seeing their chocolate peanut butter and almond butter cups for the first time and was super impressed by their creativity and willingness to try new things. Super happy for their success.
ok
Smells like subsidies.
Humble genuine dude. Good on him.
Justin’s modesty is great. He might’ve had some luck, but if he wasn’t prepared then the opportunities wouldn’t have been available for him. Excellent story!
"Plant Based Experience" He's not Humble or Modest, just ask him why he doesn't eat Meat, and I'm sure you'll see the problem.
Way to Jerk someone off, you call a "Nutbar" a "Plant Based Experience". That tells me all I need to know about the type of Person you are.
@@StanHowse my comment had absolutely nothing to do with his diet. I was referring to his journey as a business owner. Your written comment tells me that you need an English refresher course on punctuation, reading comprehension and you might as well throw in a listening course too. And it sounds like you definitely need some therapy and a lot of hugs. You have a lot of aggression. But that’s fine because a lot of us do.
This guy is so humble, honest and full of youth man so happy it all ended up working for him. im up next
he's talking about peanut butter, mate
He was "lucky" to have the right idea at the right time. There was not so much competition at that time and it was easier to place a new product. The other main leg on his success was the initial credit of 75K for a roommate's parents. I guess banks were not interested and he had no funds himself to finance that.
This is where most dreams shatter. Unfortunately.
He seems to be a very nice humble down to earth guy.
I agree, just as the non-meat wave was starting to peak. In regarding to loans: Bank I don't think would touch this stuff. They want slam dunk businesses for loans or business with lots of cap-ex/equipment that they can repo if things go south. What I notice that lots of these business need the "Bank of Family and Friends" to get that initial funding. It appears to be important to have a strong network and base. Not all come from families with lots of resources, so friends and other people in the network can bridge that gap if needed.
I agree, but I also know a TON of people with 75K to start something and they would never be as successful as this guy. He's clearly very smart and mastered the business in no time, so props to him
@@nach000x Yes, that's for sure. He had his vision and followed through. I know a lot of people with a lot of money, but they're all afraid to risk something, because they might fail. He was not successful because of the 75k, but he could bring his business to another level. Without it he would probably still selling selfmade peanutbutter on farmers markets.
you make your own "luck"
@@psk305 i know that it was a lot of hard work, but my point was would he be able to go on with his business without the 75k loan? Sometimes you just need money to step up and if you don't have that... it's the end for the most businesses.
Wow that’s nuts
Actually it's legumes.
@@CEMBerthoud Pealegumes
I wish he could peanut butter all over my back
finally someone who got super rich with a great idea/product who admits that's still also a lot of luck to achieve it. Most billionaires or multimillionaires are like "everyone can achieve that" but most of them had the luck to be born in a rich family to get the capital, meet the right person at the right moment or whatever else. In his case without the 75k from his mates parents he may have never achieved it because another company could have learned about it before he had the chance to sell it to the bigger stores. It's still 100% his achievement but there are millions who have awesome ideas but only 1% of them will really have the luck you need not to get stomped before you can realize your idea.
he literally said he borrowed money from his roommate to afford starting his business. stop making excuses for not being successful, yes almost anyone can make it if they keep taking opportunities and risks
Yes, but also risk-taking. He was willing to take huge risks including the loan. But I totally understand your point, thanks for expressing it.
What he did was 1) have the idea and then 2) he actually started to make the peanut butter. Once he started on the path then the pathway opened for him.
I know what you mean, that there are elements of a persons success that are based on luck or circumstance, but I wouldn’t necessarily call it luck that he got a $75k loan.
Most businesses need loans or investors to grow, so it’s part of the job of growing a company to find those lenders/investors.
If he didn’t get it from his friend’s parents and he was motivated (which it seems he was), he could have likely found a different lender/investor.
6:04 Finally one of all those entrepreneurs says it: It just comes down to luck. No matter how good your idea or product is, if you don't know people that can help you realize it, you just won't succeed. If you aren't at the right place at the right time, you won't succeed. Many people forget this. You need help and luck, lots of it. It's the same with all those thousands of online print on demand and clothing businesses. Only a fraction of them are successful.
An important note tho is that there are different kinds of luck. This wasn't the sort of luck that just descended upon him and changed his life. He was working on something and got lucky with finding the right opportunities and then got luckier by making the right choices to capitalize on them.
@@mittortz Yeah, exactly, that's what I was trying to say.
@@TheLuggi84 cool, yeah I wanted to just add to it. Agreed on everything. Ultimately, that's why the stories of so many of the great entrepreneurs include failed businesses you've never heard of in the beginning. The lesson is, to get lucky... Keep trying, keeping taking shots. Eventually, one of them might hit their mark. And really, even in Justin's story: he had put so much into it with the initial peanut butter products and they weren't covering costs. At that stage, the business was on a trajectory to fail if he stopped pushing. It was only by essentially taking another shot with the squeeze packs that he truly got lucky and found the success that would inspire this story to be written at all.
Literally all successful entrepreneurs say luck plays a major role
Stay poor with that mindset, brokie.
He seems like a down to earth dude, even admitted that he got lucky. Salute.
Similar to Steve Jobs. He was raised in Silicon Valley. What if he had been raised in Akron, Ohio or Tampa, Florida?
In the Bay Area he could easily reach out to heavy hitters in gaming and computers like Atari and HP.
The stars aligned.
Luck had nothing to do with it. He had an idea, and he executed it. Nobody magically handed him money out of nowhere. THAT would be luck. He created a good product, did his homework, and presented the idea to someone with capital, which EARNED him the loan. He WORKED for it. It wasn't magic lucky money from the sky that surprisingly blessed him. He worked hard and carved an opportunity for himself
Justin is an amazing person! I emailed him and he personally responded! He values his customers and he’s incredibly kind. His product line is super healthy and delicious. He has my utmost respect. ❤️
values them enough to opt out of using avocado oil or coconut oil and instead puts pro inflammatory oils like palm into his peanut butter.....he cares so much. You are truely delusional, wake up. Seed oils are destroying your health because they sit around and oxidize.
dr berg released a video yesterday with an eye surgeon explaining why seed oils are destroying you, go watch. STOP EATING PALM OIL.
I would have loved to taste his earlier versions. The current version has palm oil, which they probably thought was necessary for scaling up the company. Its sad because it cheapens the integrity of the product. These days, a premium nut butter is made just with nuts, no added oils or filler.
My guess, is that to scale you have to figure out a way to make an emulsifier. I do think that most people do not like the oil separation and palm oil would be an easy way to mitigated this from happening too much.
I make a shake every day with peanut butter. When I have to use the Justin's it is very bland.
@@KOSMOinfinite the main reason is palm oil is super cheap. I'm from a country producing palm oil. Thanks for using palm oil. I get it we all don't want cheap oil in our diet, but your buying habit decides businesses' decisions. As long as people keep buying products with palm oil in it, businesses are gonna keep using it.
This was some of the most disappointing peanut butter I have purchased, and also the most expensive. It tastes like smooth putty. Whole Foods has grinders which are 100x better.
I've eaten early Justins peanut butter before. It was literally just peanuts. It was not very good. It was like eating ground peanuts in oil basically..
Also their branding was really weird like the back said something along the lines of his wife was named Justin, his kids were named Justin, his dogs were named Justin.. The peanut butter was like $8
4:29. This is where most peoples journey ends and the dream dies. Borrow $75,000 requires self belief and willingness to take risk when the time is right. Most people are too afraid to fail and never do anything.
Well, if you think about it you can mitigate the risk pretty much. If you flop, you're not gonna lose the whole 75000. You buy a second-hand machine for 75000 in order to check the viability of the product. If it sucks and you never get any sales, you re-sell the machine for around the same price, or a little less. But it's definitely worth it to attempt, even if it will cost you like 5000 dollars of savings when you resell it a little lower.
Have to take that risk. It's just that most people see a big sum of money and are too scared. Investing 75000 without any backup plan would be stupid.
Most people aren't too afraid to fail, but because they do fail.
This success story is 1% rest 99% of the startups fail.
It's like saying one person survived jumping from an airplane without parachute so why don't you jump?
As an owner of a similar nut butter brand, distrupting another area of the category, I have to say that I love his passion and how he was able to sum it up in a nutshell (pun intended). We are probably where Justin was in 2012-13 talking to WF, Wegmans, Target, testing out products in farmers markets across SoCal and getting traction nationwide but if I had to stress one thing from this, it’s that you gotta be in the right place at the right time. Hard work is expected but it means nothing without luck. And you increase your luck by being out there and staying relevant and consistent. So if you’re reading this and trying something on the side, keep doing it. It only takes one good person to look into your direction sometimes and it just snowballs after that. Good luck!!
markanin adi nedir reis merak ettim. basarilar dilerim
Thanks for adding the comment. Was good timing for me to read it.
wise words indeed… just out of interest, what’s your PB company called? and where can we buy some?
I suggest you watch the latest video of “Diary of CEO”
Something about $100 million dollar company
They have some good tips and ideas that could probably shift your mindset.
Couldn’t agree more, best of luck and continued success #TakeYourShot 🫚🫚
The honestly and humility of his "lucky" comment was really gratifying to hear. Success within a system like capitalism requires luck, and yet it's so rarely acknowledged. Focus, consistent effort, a willingness to adapt, and, yes, luck. Thanks, CNBC, for leaving that last point in.
The honey peanut butter is the only one that I use. I literally cannot get enough of this peanut butter. I'm so glad he made this company!
A very nice personality and a honest view of his success. To build a company is not easy sometime there is luck.
1:50 "using his food processor Justin began grinding his own nuts..."
😂
😂😂 You win TH-cam comment of the week 🏆
Somebody had to
My ex-wife did that to me for 10 years
That part made me laugh so hard!!!
Love this series, always inspired by these entrepreneurs! thanks cnbc
I love what he said! "You never want to build something that you want to sell, you wanna build something that somebody want's to buy! 5:50
He is a special and humble individual.
Good to see how humble he is.
More of these stories and less of tech guys who create an app and are now billionaires.
I’m sick of seeing tech guys as well. No hate on them but I wanna see more of this
Exactly
@Mryetti26 That's because people overlook the 'tech' failures...
From what this video shares, this was Justin's first business and it was a very successful exit... That is extremely rare.
I sold my first business, then thought it was easy and had two massive Ls...
I would buy Justin’s peanut butter, but I don’t like the palm oil in it.
Why? It taste bad because of that?
@@loveurselfilm inflammatory oil because it sits for a long time and oxidizes; oxidized linoleic acid is highly inflammatory because its an oxidized omega 6 that your body can't digest. It will ruin all your metabolic functions like fat burning; we are in a epidemic of obesity from our lack of education on the same thing you asked why? about. It's not the sugar its the oils that have destroyed our bodies on top of excess eating, you should eat once a day if that maybe every other day, we did it for thousands of years, go learn about it.
@@loveurselfilm in 65 years sugar has only gone up in our daily food consumption, backed by recent data if you check out Dr berg newest video on youtube, by only a margin. The thing that has skyrocketed into our daily diets in the past 65 years are the oils like palm oil. Please watch Dr Bergs newest video with an eye surgeon on it.
@@loveurselfilm palm oil is also extremely bad for the environment
Fun fact: Korn's song titled "Justin" is named after this guy.
Jonathan Davis a big fan of peanut butter.
Honestly the fact that he was hustling working retail and as a serving may have been a blessing as it likely gave him blocks of time during the day where he could do things such as product demos at the stores during standard working hours.
How do you just start producing without first acquiring the necessary licences and permits? What about hiring a lawyer as well to protect your business from potential lawsuits? How about a food inspector walking into your kitchen and telling you about necessary upgrades and a hygiene policy and procedures? Can someone really just start producing a food product like that in a home kitchen with roommates around? Why not present the full story with all the details so others can learn.
It's an ad concealed as infotainment.
The story of Justin is super inspiring, showing the power of pivoting and innovation. Sometimes, the key to profitability lies in streamlining operations and focusing on the product's unique selling proposition to differentiate it from competitors. Also, never underestimate the value of packaging and branding in creating a premium perception.
Huge respect for him acknowledging that while he worked hard, he also got very lucky. I feel like a lot of successful business owners, especially the ones who claim to be "self made" (most of them really aren't) ignore this fact. Mark Cuban himself said if he was stripped of everything, he doesn't know that he could become a billionaire again even with his knowledge now.
what a humble guy, self-awarely attributing his success to luck
Thank you CNBC you guys are building the Future I am sure.
All sounds great, but you don't get shelf space at Whole Foods just by walking in and showing your product. There's a loooot of blanks in this story.
actually, it used to be that way i sold a product into my local whole foods and i was shocked at how easy it was. they were also excited to help me "take over whole foods." it didn't work for other reasons, but if you have a good product with a good brand story i found most supermarkets were interested. i had no trouble getting meetings, and only one chain of the seven i approached said no flat out all six others gave me a shot in multiple stores - and that was in frozen, the most expensive real estate in the store.
@@JoshuaFinancialPL keep the story up. I stay with „blanks“. But it’s not impossible, just a lot of luck and hard work.
Glad to see a rich person acknowledge that he was lucky . Most other rich people have massive egos and say it was all their ability and skills.
It's incredible how globally connected we are right now. Me , from Medellin, Colombia, witnessing such business idea(healthy, profitable and just delicious) while being a peanut butter addict since my vegan years experiences. Now this idea is into another whole level, feeling inspired by it to bring it into this country and chance our feeding habits for good.
100%!
I so love this company was founded in Boulder. Was in Boulder just the other day.
See what happens when community gets behind you. See what happens when people help each other.
what an honest down to earth guy
Using his own food processor, Justin began grinding his own nuts.
How subtle.
😂😂😂
Justine's definitely a "level 5" ceo
281 Million worth of gratitude!
2:18 his nutbutter had good reviews from his roommates 😂
Haha
5:20 he puts a great spin on selling out. For a second I almost believed it wasnt for the money.
What an inspirational idea, venture, person...
Got it. Now I just need a roommate who’s parents are rich enough to give me 75k.
Central Market by HEB All Natural Nut Butters have 1 ingredient, the nut and no added sugar, oil, or other ingredients.
1:52 grinding what??
😂
classic boulder, just need a roommate with a parent to give u 75k llol
from my experience people with money are more than willing to loan someone or even gift if they have a clear and concise plan to make it back with the determination to make it happen.
Right money in wrong hands and you've got either a junkie or tragedy...
So.true 😂😂😂😂❤🎉
Basketball people would spend the 75k on Hellcats
The almond butter is now $14.99. Sheesh
He started the business for peanuts and ended up securing the whole nut bag. How ironic a vegetarian sold out to Hormel.
Step number 1: Be rich enough to have friends with parents who have $75K disposable income to fund an idea you got during your leisurely mountain biking. Great video though. Love organic PB.
Skippy Creamy Peanut Butter actually uses better ingredients. I stopped consuming Justin's shortly after trying it and reading the ingredient list--it uses palm oil. No, thanks.
Palmoil is bad? How ?
@@Yefro72processed oil. bad for your body to process.
Skippy’s uses palm oil too lol
@@counterthirty palmoil is just fine. Dont let the soya industry lie to you.
Its not oil, it the hydrogenation of the oil that is hard for your digestive system to breakdown
Hate how it doesn’t give insight on the struggles he encountered, how he overcame them, how he got big companies to want to do business with him, etc
except for this video i have never heard of the product and never will see it again
G2G makes the best peanut butter you will ever taste. It is flavored with a bit of honey and they use coconut oil. I can literally eat a whole small jar of it in one sitting. Oh, it costs $5.99 for a 16 oz jar
AMAZING VIDEO, AMAZING QUALITY, AMAZING EDITING, AMAZING IMAGES
Wow so inspiring story, he made a known product even extraordinary.
The origin story is VERY relatable XD
necessity is the mother of re-inventions
Love his humility
I love love this series, so inspiring 😍 btw almond chocolate caps are my fav snack
Real life Owen Wilson (Hansel) vibe from this guy
That Justin’s so hot right now.
This guys my spirit animal. I swear my third ideal to him.
Min 4:05…pretty sure the writer is proud of that line
He took the money and RAN.
Love founder effect! This is a great episode.
Summary:
Call something organic, and sell it to hipsters in Boulder
This is everything good about America
They bought him because they were scared it would grow to a bigger brand & competition by expanding to more products. This could have become a billion dollar brand.
impressive humility.
this series can be dog water sometimes but this was a great story. Humble guy
"it is a trick andre, dont you see?!"
"We do it so people feel like it is an open economy and make something. Come up with new ideas."
Do you hire them?
"Sometimes. Sometimes they don't really match and we take their idea, make it better.""Sometimes we want them to be here so they can come up with more ideas later on.""Sometimes we just come up with all the good ideas inside and I really don't know what the outside is for."
"No! We need them. For money, transfers, who r es.
What a great yet humble guy :)
It's a good tasting nut butter and I've always enjoyed their butter cups as well. But I do wish it was a cleaner product, that didn't include palm oil.
It's not like it's not possible either. Because there's plenty of almond butters like from Whole Foods 365 brand and Costco's Kirkland brand. That's made with nothing but nuts and salt.
HEB has their own nut butters here in Texas that I swear by, under the ‘Central Market’ name. Also just peanuts and sea salt-or I usually get the unsalted variety, which is just dry roasted peanuts blended in their own natural oil.
However, consumers buy into the flavor, taste, branding and marketing-and in that way Justin’s has always stood out on the shelves. It’s sort of like the “luxury” peanut butter for the Tesla driving crowd.
Women also love that name because of Timberlake and Bieber.
Nobody believes Mr Gold built his success without a little help from his friends
$50 Million in sales in 2015
$281 Million the company sold the next year
Seems like a way too good of a deal for the buyer
It’s criminal in my opinion. Like he should’ve never sold it
what a cool guy. very inspiring
I can't tell if Justin's is actually better than the others but it's awesome and they get me to pay like $15 for a jar at my local store in NYC every time.
Horneo owns skippy. They most likely want as much of the market as possible when it comes to peanut butter. Keep competition low with just JIF.
If the product was cheaper, I'd buy it
$281 million for peanut butter. There's a sucker born every minute, you just happened to be coming along at the right time
helps to have rich friends and family
People saying and moaning about Palm Oil - I don’t think Justin gives a fiddle - don’t like it just don’t buy it - simples 😂
What a humble cool dude!😊
Don't ever use this name in Canada. Canadians HATE "JUSTIN" so much that you can't even imagine. 🤣🤣
When the food is so bad in the US you become multi millionaire for selling decent food.
Love this story! Thank you for sharing 🎉
In South Africa we have two major brands in nut butter (jar and squeeze packs) and I could not live without them. Cocoa Macadamia, y'all.
Nut butter squeeze pack just sounds wrong! LOL
I am hungry just by watching this video. Well done!
love this thank you
Andys always wins
Plenty of hard work. The real luck was having someone that could give him 75 grand. Without that, who knows how long it would take to save that much. Or if the company lasts without that loan.
4:25 This is really all you need to know about this story.
What a genuine person. Love it
I used to eat this while a student in college
Well done!
Is this where Reeze‘s come from? The cups in the end remind me of it
So it’s palm oil flavored with peanuts?
I initially bought it because it had honey in it. The late versions of the products are just like what is on the shelf which is just meh.
I prefer Petter Pan. Crunchy. Thanks