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How I Built This with Guy Raz

Live From The HIBT Summit: Stacy Madison of Stacy's Pita Chips

How I Built This with Guy Raz

Guy Raz | Wondery

Business

4.831.1K Ratings

🗓️ 12 March 2020

⏱️ 14 minutes

🧾️ Download transcript

Summary

Our ninth episode from the 2019 How I Built This Summit features Stacy Madison, co-founder of Stacy's Pita Chips. In this live conversation with Guy, Stacy explains how pita chips became a passion--even though they didn't start out that way. We'll be releasing one more episode from the Summit in the next few weeks, so keep checking your podcast feed.

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Transcript

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0:00.0

Hey, Prime Members, you can listen to how I built this early and ad-free on Amazon Music.

0:07.0

Download the app today.

0:09.0

New Year's is here, and with it brings the possibility of change.

0:13.0

As one behavioral scientist put it, first starts are really powerful.

0:17.0

So as you head into 2023, LifeKit is a great resource to help you plan your life and tackle changes, both big and small.

0:24.0

Listen to the LifeKit podcast from NPR.

0:27.0

Hey everyone, so I've got kind of a random question for you.

0:33.0

What do you get when you take two psychologists, one social worker and a few pounds of dailed Peter Bread?

0:39.0

The answer, of course, is Stacey's Peter Chips, one of the businesses we featured at our High Built This Summit last fall.

0:46.0

Now, if you remember a Stacey's story from the podcast, she was a social worker who teamed up with her brother David and her then husband Mark, both of whom were psychologists.

0:56.0

In other words, they knew nothing about the food industry when they built a multi-million dollar snack company.

1:03.0

And the whole thing began almost by accident.

1:06.0

When Stacey and Mark ran a sandwich cart on the streets of Boston, they would take leftover Peter, cut it up, and bake it into these crunchy little triangles, which at first they gave away for free, until it became clear that people were willing to pay for them.

1:21.0

Anyway, when Stacey and I sat down live on stage in San Francisco, I asked her what was going through her head at the time.

1:28.0

Do you remember thinking even once you kind of moved into making Peter Chips, that this would grow into a massive brand?

1:38.0

No, no idea.

1:39.0

And no intention.

1:40.0

Absolutely none.

1:41.0

Never started the company with an exit strategy.

1:44.0

Didn't know what an exit strategy was when we started.

1:47.0

Didn't know what a business plan was.

1:49.0

What do you think it was that fueled the growth?

...

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