Mike Fata lost 120lbs AND sold his hemp company Manitoba Harvest for $419,000,000

My Biggest Lessons with Chris Meade

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3y ago 21:28

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Chris Meade used Gorgias to generate over $1,000,000 in retail sales, learn how he did, and you can too.

Mike Fata is the founder of Manitoba Harvest. A company that makes natural hemp foods sold online and in-store. Get in contact with him, and learn more about mentoring here.

2:00 Thoughts on college and university and educating yourself. There are more ways to educate yourself than traditional channels.

4:30 How Mike funded the original iteration of Manitoba Harvest. Now as an investor, Mike shares what types of investments he makes in products, and founders he'd like to have in his house, and singing high praise for Jake at Mid Day Squares.

7:30 It's a much more competitive world now, but there are more tools you can use.

9:00 Lessons learned the hard way, including not trying to fight the government. Even if you win the battle, you could be paying a lot more down the road.

10:30 Being an entrepreneur is a competitive sport, and you have to eat and train like an athlete. Chris shares the benefits of doing yoga or Pilates twice a week.

13:30 Bootstraping, putting in your own capital, and building out your own board of advisors. Mike shares resources for setting up an advisory board without being taken advantage of.

16:00 The race to profitability with lowering valuations and the importance of making money. The journey from $5-$10M and then to $50M requires a ton of capital. A true 50% gross margin with discounts and overhead gives you the ability to tap into growth.

Chris Meade is the co-founder & CMO of CROSSNET, the world’s first four-way volleyball game. Chris was honored with Forbes 30U30 for the 2021 Sports category. CROSSNET combines elements of the childhood game four square and volleyball in a competitive game to 11, win by 2. CROSSNET is now available at 3000+ retail stores such as Walmart, Target, DICKS, Academy Sports, Sam’s Club and 20+ other retailers.

35 episodes

#Entrepreneur #Business #DTCX #Chris Meade