TLDR: This is a story about how I accidentally started a bakery? 😂

People think business is spreadsheets and suits.

Boring stuff.

What it ACTUALLY is, is recognizing a problem, solving it for yourself, then realizing other people have the same problem.

Here's one I solved:
So, I like to be healthy.

Despite occasional ice cream binges, I eat super healthy, exercise, sleep, and all that stuff.

I even wear a blood glucose monitor to track my blood sugar.

I admit it: I'm a health nerd.
Wearing a blood glucose monitor is kind of mind-blowing.

You quickly realize how insanely fucking terrible many foods are for you.

All sorts of stuff that I thought was healthy (smoothies, oatmeal, orange juice) turned out to absolutely decimate my blood sugar.
When I started paying attention and avoiding high sugar foods, I started feeling way better.

Sharper, fewer energy drops, lost weight etc.

So, I'm a health nerd. But what about my kids?

I can't strap glucose monitors to them.
I don't want to be one of those parents who forces his kids to eat egg white frittatas and broccoli 24/7.

I don't want to give them a complex about food.

It's fun to eat cookies and stuff.

So, at a minimum, I tried to read the labels and choose treats that weren't too bad.
And once I started looking, I quickly realized that most kids stuff—even the supposedly healthy stuff—is packed with sugar.

Sometimes blatantly. Loads of table sugar.

Sometimes covertly. Tons of maple syrup.

Sometimes secretly. Simple carbs.
And while many people are fans of "natural" sweeteners like coconut sugar, date juice, and maple syrup, most natural sweeteners have the same effect as sugar:

They spike blood sugar. A lot.

healthline.com/nutrition/coco…
And aside from being bad for your kids health, let's be real:

Kids who eat sugar are maniacs.

It means bad sleep. Tantrums. Generally being annoying.

But at the end of the day, I just couldn't find anything good.

So they kept on eating garbage cookies and had tantrums...
That is until recently, I was listening to a @PeterAttiaMD podcast where he talked about allulose.

It turns out, non-sugar sweeteners have come a long way, and there's a particularly cool one called allulose.
It occurs naturally in figs and almonds, it tastes almost identical to sugar, and has none of the gut side effects of some of the other sweeteners that give you gas and cramps.

It's also approved by the FDA and even diabetic friendly.
It sounded pretty cool, so I called a baker friend and asked him if he'd be down to do a big batch of cookies for me as an experiment.

He was skeptical, but agreed to give it a shot.

Most sugar substitutes taste like crap, have weird aftertastes, or make your stomach go off.
And after a few failed attempts, we made grain and sugar free chocolate cookies that tasted....like normal chocolate chip cookies.

Really freaking good. With zero side effects.
I started giving them to my friends for testing, without telling them that they didn't have sugar in them.

They were shocked.
Best of all, I pounded three cookies in one sitting, then watched as my blood sugar stayed dead flat for hours.

I was hooked. Satisfying treats with no guilt.
From that point on, if I broke and binged treats, I binged on these and they scratched my itch without the associated guilt and health consequences.
I quietly replaced the cookies in our house with them, and my kids didn't even notice. They loved them.

No more tantrums.

Then, the texts started....

"When can I get more of those cookies?"
"Can you make ice cream?"
"My kids keep asking..."
"Look, I'll buy in bulk..."
My friends were hooked too.

I regretfully informed myself: there was a business here.

Because I need another business like I need a hole in the head..

But when duty calls, you answer.

So, earlier this week, I launched Euphoria, a guilt-free bakery.

euphoriabakery.co
All our treats at 100% sugar, grain, and gluten free. Some of them are even dairy free.

We're even working on ice cream (it's insane how good it is).

I have to admit, I'm having a blast with it...
Because this is what I love.

Forget suits and spreadsheets and stuff.

This is why business is cool:

You get to scratch one itch, and in turn thousands of itches.

The best.
BTW: I need someone to run this thing.

If you want to move to Victoria and run a bakery, get in touch!

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More from @awilkinson

17 May
There are three key ways to get rich:

1. Start a Business

2. Be Born Into a Wealthy Family

3. Extreme Patience

Everyone likes the stories about #1 and #2.

Nobody likes to hear about #3.

Too bad.

Today, I'm going to tell you a story about a guy who made billions with #3...
“__________ has the best operating and capital deployment record in American business.”

–Warren Buffett

“His results are a mile higher than anyone else …utterly ridiculous.”

–Charlie Munger

Who is this mystery man?

I'd wager money you've never heard of him...
Everyone knows about Buffett and Munger.

But almost nobody knows about Henry Singleton.

The man who quietly bootstrapped $450k into $1.15 BILLION.
Read 16 tweets
28 Apr
Which company are you better off investing in?

High Growth Compounder 🐇
$1M earnings growing 50% per yer
Valuation: $30M (30x earnings)

Slow and Steady Grower 🐢
$1M earnings growing 10% per year
Valuation: $3MM (3x earnings)

Let's play this out....
Company 1 - High Growth Compounder 🐇

Assuming 50% growth rate continues:

Year 1: $1.5MM
Year 2: $2.25MM
Year 3: $3.375
Year 4: $5M
Year 5: $7.5M

Value if trading at 30x: $225M
Value if multiple gets cut in half to 15x: $112.5M
Value if multiple gets cut to 5x: $37.5
Company 2 - Slow and Steady Grower 🐢

Assuming 10% growth rate continues:

Year 1: $1.1M
Year 2: $1.2M
Year 3: $1.32M
Year 4: $1.45M
Year 5: $1.59M

Value if still trading at 3x: $4.7M
Value if trades up to 10x: $15.9M
Value if trades up to 20x: $31.8M
Read 4 tweets
22 Apr
It’s a lot easier to AVOID things that make you miserable than to predict what will make you happy.

There’s an incredible @Harvard Study from 1938 that sheds light on just how to avoid a miserable life.

In 2013, reading it caused me to quit drinking and changed my life...
In 1938, Harvard enrolled 268 sophomores (all men due to the time) into The Study of Adult Development.

They also recruited a group of 456 inner city male Bostonians as a control group.
268 wealthy Harvard undergrads and 456 working class men from some of Boston's worst neighbourhoods, in one long term study to see how their lives would turn out...
Read 17 tweets
19 Apr
One of the most overlooked ways to increase revenue is something called Pricing Power.

Your product is so awesome or in demand that you can charge more and your customers won't leave.

Most leaders are TERRIFIED of raising prices...
But in my experience, most customers don't blink....

For example:

We randomly own a bakery.

Our manager was absolutely terrified of raising prices, even after we showed her that we were charging 25% less than our competition...
Even crazier, in the 5 years since we'd last increased pricing our costs had increased massively.

Hourly wages had been increased significantly, ingredients were more expensive, labour became tighter, rent increased.
Read 9 tweets
5 Apr
I'm pretty confident that:

In 5-10 years, nobody will be aware of crypto 🪙

It will be long forgotten by everyone other than hardcore developers...
Not because crypto won't work.

It will.

But because, as it stands, it's CONFUSING.

The technology is pushed to the forefront when it shouldn't be.

Example: find me a crypto company that doesn't mention crypto.

In an effort to promote crypto, they obscure the utility.
As @benedictevans pointed out this morning, crypto projects are often impossible to navigate or underststand as a mere mortal.

They are built for fellow crypto nerds:

Read 10 tweets
2 Apr
A funny heuristic:

What's your Batman project? 🦇

What's something, that if you don't do, nobody else will?

Imagine your life was a movie and this is the trailer:

"In a world where....______.....one woman/man...."

Read on, to see what I mean 👇

Most businesses or philanthropic projects don't need YOU to happen.

They are inevitable.

If you don't push it forward, someone else will soon or already is.

For example...
If someone didn't start Clubhouse, someone probably would have started a similar startup soon after.

Audio still would have taken off. It was inevitable.

Maybe it would have taken a little longer, but it probably would have happened.
Read 20 tweets

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