The Foundr Podcast with Nathan Chan

Will Nitze went from selling Linsanity T-shirts in his college dorm to
building IQ Bar into a $125 million brain food empire—with just a team
of ten people. No bloated headcount. No burning through VC cash. Just
ruthless focus on unit economics and a contrarian approach to funding
that let him scale aggressively while maintaining control.

In this interview, the founder and CEO of IQ Bar breaks down how he
turned a $73,000 Kickstarter into one of the fastest-growing CPG brands
in America, why he believes bootstrapping is the worst thing you can do
in food and beverage, and the exact moment—five years in—when he knew
this could be a massive company. From cracking Costco and Whole Foods to
reinventing the business over ten times, this episode is a masterclass
in hyper-lean growth, retail strategy, and building a company like a
knife fight.

What you'll learn in this interview:
• Why bootstrapping is the worst thing you can do in CPG
• Will's contrarian fundraising strategy: raising less money, more often
to maintain control
• How he raised just under $10 million while still controlling the
company
• The exact moment, five years in, when he knew IQ Bar could be a big
company
• Why IQ Bar has reinvented its fundamental identity over ten times
• How to navigate the cash conversion cycle while scaling physical
products
• Why retail is the "final boss" for CPG brands, even in the e-commerce
era
• The strategic shift from DTC to cracking Costco, Whole Foods, Walmart,
and Target
• Why consumers are less loyal every year and how more touchpoints solve
that
• How building a personal brand creates a network of category experts

By the end of this episode, you'll understand how to scale a physical
product business without burning cash, maintain control while raising
capital strategically, and build the operational discipline required to
survive in one of the toughest industries in the world.

If you're building a CPG brand, navigating fundraising decisions, or
trying to crack retail while staying lean, this conversation will
fundamentally change how you think about growth, control, and
category-defining execution.

SAVE 50% ON OMNISEND FOR 3 MONTHS
Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠⁠⁠ to get started.

HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER
Learn directly from 7, 8 & 9-figure founders inside Foundr+
Start your $1 trial → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠⁠⁠

PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING?
→ Starting from scratch? Apply here →
⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠⁠⁠
→ Already have a store? Apply here →
⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠⁠⁠

CONNECT WITH NATHAN CHAN
Instagram → ⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠⁠⁠

CONNECT WITH WILL NITZE
Instagram → https://www.instagram.com//willnitze/
LinkedIn → https://www.linkedin.com/in/will-nitze
Website → https://iqbar.com/

FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES
YouTube → ⁠⁠⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠⁠⁠
Website → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠⁠⁠
Instagram → ⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠⁠⁠
Facebook → ⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠⁠⁠
Twitter → ⁠⁠⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠⁠⁠
Podcast → ⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠

Most founders are desperate to hire — but they're asking the wrong question. It's not "How do I find great people?" It's "How do I find people who care as much as I need them to?"

Here's the truth: you can't scale alone. And no one will ever care about your business as much as you do. But after building Foundr and making every hiring mistake in the book (including paying half-million-dollar salaries that didn't work out), I've learned this: caring can't be taught, but it can be detected.

In this episode, I share the exact framework I use to hire outliers and build a team that treats Foundr like their own. This is how we've built a high-performance culture where people don't just show up — they go the extra mile.

Here's what you'll take away:
• Why caring can't be taught, but how to spot the early signs in interviews and reference checks
• The culture mistake that kills performance: your worst performer sets the standard for everyone
• How mission and purpose become your secret weapon for attracting people who actually give a shit
• Why ownership beats micromanagement — and how to give people real outcomes, not just tasks
• The incentive structures that create loyalty: equity, profit share, and aligning personal goals with company goals
• Why connection and relationships matter more than driving people harder

If you're scaling and struggling to find people who care, this episode will change how you hire, lead, and build your team.

If you're loving this solo series, I'd love to hear your feedback. Email me directly at [email protected] — I read every reply. Hope you enjoy it.

SAVE 50% ON OMNISEND FOR 3 MONTHS

Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to get started.

HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER

Learn directly from 7, 8 & 9-figure founders inside Foundr+

Start your $1 trial → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING?

→ Starting from scratch? Apply here → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

→ Already have a store? Apply here → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

CONNECT WITH NATHAN CHAN

Instagram → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

LinkedIn → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES

YouTube → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Website → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Instagram → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Facebook → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Twitter → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

LinkedIn → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Podcast → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠

Sarah Lee went from cold-emailing 700 journalists by hand and sleeping two hours a night to building Glow Recipe into a nine-figure global skincare brand inside Sephora. And she did it without raising venture capital.

In this interview, the co-founder of Glow Recipe breaks down how a $50,000 bootstrapped Korean beauty curation site turned into one of the most recognisable modern skincare brands in the world — including how they broke even in just three months, why they walked away from millions to stay in control, and the exact moment they knew it was time to build their own products.

From getting on Shark Tank in year one to launching their first SKU with nothing but a white jar and an iPad mockup, this episode is a masterclass in brand building, retail strategy, and founder-led execution.

What you’ll learn in this interview:
• How Glow Recipe broke even in just 3 months with a $50K bootstrap
• Why Sarah and Christine personally cold-emailed 700+ press contacts
• The real economics of starting as a curated marketplace vs owning the brand
• How they validated product demand before manufacturing anything
• What it took to pitch Sephora with no finished product
• Why Glow Recipe walked away from millions in potential funding
• Lessons from Shark Tank — and what didn’t make it on TV
• How Korean beauty education became their unfair advantage
• The biggest mistakes founders make when launching beauty products
• How Glow Recipe scaled from curation to a nine-figure product brand

By the end of this episode, you’ll understand how to validate demand early, build leverage without capital, and turn brand education into long-term defensibility — even in one of the most competitive categories in ecommerce.

If you’re building a product brand, thinking about retail expansion, or deciding whether to raise capital or stay bootstrapped, this conversation will fundamentally change how you think about control, growth, and timing.

SAVE 50% ON OMNISEND FOR 3 MONTHS
Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠⁠ to get started.

HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER
Learn directly from 7, 8 & 9-figure founders inside Foundr+
Start your $1 trial → ⁠⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠⁠

PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING?
→ Starting from scratch? Apply here →
⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠⁠
→ Already have a store? Apply here →
⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠⁠

CONNECT WITH NATHAN CHAN
Instagram → ⁠⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠⁠

CONNECT WITH SARAH LEE
Instagram → https://www.instagram.com/sarah_glow/
LinkedIn → https://www.linkedin.com/in/sarahleenewyork/
Website→ https://www.glowrecipe.com/

FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES
YouTube → ⁠⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠⁠
Website → ⁠⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠⁠
Instagram → ⁠⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠⁠
Facebook → ⁠⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠⁠
Twitter → ⁠⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠⁠
Podcast → ⁠⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠

If you’re staring at an empty Instagram feed, TikTok account, or LinkedIn page thinking, “What the hell do I even post?”, this episode is for you. Every early-stage founder hits this wall — and most stay stuck because they don’t have a simple, proven system for figuring out what to post or where to start.

In this episode, I walk you through the exact method I used this year to rebuild my personal brand and dramatically grow Foundr’s content output. It’s simple, practical, and works even if you have zero followers. This is the content playbook for new founders — based on real evidence, not guesswork.

Here’s what you’ll take away:
• The recon method: how to reverse-engineer what works in your niche using outlier content
• Why you only need 2–3 formats and one platform to start building traction
• How to pick the content styles that match your energy, skills, and brand identity
• The unicorn strategy: find the top-performing posts in your niche and model the formula
• Why most founders fail by trying to “be everywhere” — and how focus accelerates growth
• The 90-day rule: why posting consistently for three months will transform your brand

If you follow this system, you’ll never wonder what to post again — and you’ll create content that actually grows your business instead of filling up your feed.

This is a brand new solo series I’m testing, and I’d love your feedback. Email me directly at [email protected] — I read every reply. Hope you enjoy it.

SAVE 50% ON OMNISEND FOR 3 MONTHS

Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to get started.

HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER

Learn directly from 7, 8 & 9-figure founders inside Foundr+

Start your $1 trial → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING?

→ Starting from scratch? Apply here → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

→ Already have a store? Apply here → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

CONNECT WITH NATHAN CHAN

Instagram → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

LinkedIn → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES

YouTube → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Website → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Instagram → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Facebook → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Twitter → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

LinkedIn → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Podcast → ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠

Lia Georgantis took over a multi-brand fashion boutique with no business experience, lost most of her suppliers overnight, then
rebuilt it into one of Australia’s most recognisable fashion brands by
posting relentlessly on social media.

In this interview, the founder of Girls With Gems breaks down how raw, unfiltered content, six to nine posts per day, and authentic storytelling helped her scale through Covid, build a cult-like community, and launch a private label brand that now drives half the company’s revenue.

What you’ll learn in this interview:
• How posting 6–9 times per day built a loyal ecommerce community
• Why relatable content outperformed polished fashion campaigns
• How Girls With Gems scaled through Covid while others stalled
• The exact mindset shift that unlocked sustainable social growth
• Why Lia refuses to participate in Black Friday promotions
• How Sneaky Link grew into 50% of total revenue
• The risks and rewards of launching a private label brand
• How to manage burnout while scaling a fast-growing business
• Why authenticity compounds faster than performance marketing
• How to build brand narratives without oversharing online

By the end of this episode, you’ll understand how to grow an ecommerce
brand through storytelling, community, and relentless execution
without copying competitors or waiting for the perfect strategy.

SAVE 50% ON OMNISEND FOR 3 MONTHS
Get 50% off your first 3 months of email and SMS marketing with Omnisend with the code FOUNDR50. Just head to ⁠⁠⁠⁠⁠https://your.omnisend.com/foundr⁠⁠⁠⁠⁠ to get started.

HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER
Learn directly from 7, 8 & 9-figure founders inside Foundr+
Start your $1 trial → ⁠⁠⁠⁠⁠https://www.foundr.com/startdollartrial⁠⁠⁠⁠⁠

PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING?
→ Starting from scratch? Apply here →
⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-start-application⁠⁠⁠⁠⁠
→ Already have a store? Apply here →
⁠⁠⁠⁠⁠https://foundr.com/pages/coaching-growth-application⁠⁠⁠⁠⁠

CONNECT WITH NATHAN CHAN
Instagram → ⁠⁠⁠⁠⁠https://www.instagram.com/nathanchan⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠https://www.linkedin.com/in/nathanhchan/⁠⁠⁠⁠⁠

CONNECT WITH LIA GEORGANTIS
Instagram → https://www.instagram.com/liagirlswithgems/
GWG Instagram → https://www.instagram.com/girlswithgems/
Website→ https://www.girlswithgems.com/

FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES
YouTube → ⁠⁠⁠⁠⁠https://bit.ly/2uyvzdt⁠⁠⁠⁠⁠
Website → ⁠⁠⁠⁠⁠https://www.foundr.com⁠⁠⁠⁠⁠
Instagram → ⁠⁠⁠⁠⁠https://www.instagram.com/foundr/⁠⁠⁠⁠⁠
Facebook → ⁠⁠⁠⁠⁠https://www.facebook.com/foundr⁠⁠⁠⁠⁠
Twitter → ⁠⁠⁠⁠⁠https://www.twitter.com/foundr⁠⁠⁠⁠⁠
LinkedIn → ⁠⁠⁠⁠⁠https://www.linkedin.com/company/foundr/⁠⁠⁠⁠⁠
Podcast → ⁠⁠⁠⁠⁠https://www.foundr.com/podcast⁠