On this week’s DPELC-MSL Speaker Series, David Morris of Fox, Swibel, Liben & Carroll interviewed Scott Mandell of Enjoy Life Foods and Cannibastry Labs about his career as an entrepreneur. Scott founded his Enjoy Life Foods as part of a class assignment when he was a student at the Kellogg School of Management. The gluten-free, allergen-free food company grew rapidly over the years and was acquired by Mondelez International in 2015. David, a corporate finance lawyer, was the legal counsel hired to oversee its acquisition. Though the discussion touched on topics of investments, regulations and the legal frameworks behind such a sale, Scott and Davis also mentioned business-savvy strategies that they’ve used in their respective careers. Here are a few standouts:
A good name goes a long way
It may sound silly, but a killer business name can actually make or break the bank. Scott told the audience that his company thought long and hard about their name before deciding on Enjoy Life Foods. The reason they chose it was because it gave the idea of bringing back indulgence to people that have struggled with food restrictions for far too long.
Your fans are your biggest advocates
One of Scott’s best marketing ideas was also a very simple one. In the early years of Enjoy Life Food, consumers had to purchase their goodies via an online store. The company decided to include a letter in every box they shipped that costumers could show to their local retail stores. The letter described what Enjoy Life Foods was and why it should be in their stores. This was one of the most effective ways the company expanded nationally and all it took was a piece of paper.
Don’t be afraid to show your personality
When Enjoy Life Foods began the acquisition process, Scott wanted to make sure buyers really understood what the company was about. “The business reads well off the page, but it’s not the same as if people heard the true stories,” said Scott. Instead of using conventional tactics, his team developed a video showcasing employees and costumers of Enjoy Life Foods that they later sent to potential investors. The feedback? “Several of them told us, the whole reason why you’re here today is because of that video,” Scott said. “That really brought it to life.”
Remember to keep in touch
“Everyone you meet is a potential client. Keep that in mind,” said David, as he described how his relationship with Scott began way back before the acquisition process even began. You never know if a classmate, friend or casual acquaintance will be the one who helps you in your professional goals. Save those contacts!
