Candy with Character with Michael Fisher of Rotten
In this conversation, Michael Fisher, founder and CEO of Rotten, shares his journey of building a candy brand from scratch with zero experience in the industry. He talks about the initial trap that many startup CEOs fall into, himself included, of chasing the symbols of success instead of focusing on the business fundamentals. Michael then shares his personal connection to candy and the creative process behind building a brand narrative that emotionally resonates with consumers. During the conversation, we touch on the power of learning from advisors, the role of Kickstarter in validating his product concept, and his focus on healthier ingredients while maintaining great taste. Michael also shares insights on creative collaboration, the challenges of competing in the candy industry, including navigating legal issues with larger brands, and his vision for a better world through diverse product options.
Takeaways:
Transitioning from a startup CEO mindset to a real business is crucial.
Learning from advisors and networking is key to success.
Kickstarter served as a validation tool for Rotten's concept.
A personal connection to candy inspired the brand's focus.
Building a brand narrative is essential in a competitive market.
World-building with engaging characters enhances brand identity through rich and engaging storytelling.
The candy industry is brand-dominated, requiring strong branding to compete for loyalty.
A significant portion of consumers are purchasing less candy due to health concerns.
The brand aims to attract consumers who have never purchased better-for-you candy before.
Formulation challenges are common when creating healthier candy options.
The brand has undergone multiple reformulations to improve product quality.
Legal challenges from larger brands can be daunting, but also indicate market presence.
The goal is to provide consumers with better options that taste great.
A better world means offering diverse food options, including healthier choices.
Chapters
03:00 - Introduction to Michael Fisher and Rotten
06:09 - The Transition from Startup CEO to Real Business
08:49 - Learning the CPG Landscape
12:00 - The Role of Advisors and Networking
14:59 - Kickstarter: A Launchpad for Validation
18:11 - Personal Connection to Non-Chocolate Candy
21:05 - Building a Brand with a Narrative
23:55 - World Building in Brand Development
28:31 - Creative Collaboration in Candy Design
31:49 - Building Emotional Connections with Consumers
33:01 - Competing in the Candy Industry
39:05 - Formulation Challenges and Product Development
47:42 - Navigating Legal Challenges with Big Candy
53:39 - A Vision for a Better World through Options
Sound Bites
"It's really hard to remember that there isn’t a playbook. What's going to work for your brand is going to be a unique path."
"I stopped buying a lot of candy, actually, and I missed it. I missed the experience of eating candy.”
"I really wanted to have a focus on building a strong brand that people could love."
"We have worlds that haven't been explored, you know, Freektopia and all these fun places.”
“More than a third of consumers in our category, non-chocolate candy, reported purchasing less candy over the last year. And the number one reason they report that is health and diet concerns."
“We are showing that there is demand from people and people are willing to pay a premium for candy that still tastes incredible and gives them some of these health benefits.”
“We're gonna win here is if someone eats our candy and it's their favorite candy, regardless of the health benefits."
"So that was a fun time for me to play around in my kitchen, but I quickly learned that it's a very technical product to make."
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