Mike Salguero @mikesalguero Twitter profile

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Mike Salguero

@mikesalguero

2 years

I founded ButcherBox, a brand that does $500m+ in annual sales. A few thoughts on starting a business:

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Mike Salguero

@mikesalguero

2 years

OK.. I'll bite! I run a $600M business, and this is a screenshot of my week next week, and a thread on some of my thoughts.

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Mike Salguero

@mikesalguero

2 years

Don’t be a slave to your business. Map out the lifestyle and amount of money you want to make, then work backwards to build that. If you don't map out the lifestyle you want BEFORE you start, you will end up sacrificing your lifestyle for the company.

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Mike Salguero

@mikesalguero

1 year

My plan was to move to Argentina, run a business with 1000 subscribers, and work 4 hours per week. I failed. ButcherBox now does ~$600M in revenue. And we did it by doing things differently. Here are 10 of the core differences between us and others! ✍️👇🧵

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Mike Salguero

@mikesalguero

2 years

ButcherBox became a $550 million brand with one strategy: Arbitrage. Here's how:

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Mike Salguero

@mikesalguero

1 year

Subscription businesses are incredible bc your revenue compounds on itself month over month.... and horrible when you hit the "subscription wall". This is where growth gets real tough. What's a subscription wall and how do you avoid? Gather round, and I'll tell you a tale.

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Mike Salguero

@mikesalguero

8 months

Butcherbox will have our first down year in 8 years. I could blame DTC headwinds, the economy, competition, or other factors. But i can’t fix those, so i blame myself, our strategy and tactics. That I can fix in 24.

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Mike Salguero

@mikesalguero

2 years

Don’t spend a fortune on ads until you know: Who your customer is, what they respond to, and why they buy. Ad spend can help accelerate your growth, but becomes a black hole of money if you’re using it for testing product/market fit.

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Mike Salguero

@mikesalguero

2 years

Forget business plans. You’ll never know what works and what doesn’t work until you try 20 things to find the 3 that really work. I had no idea how’d we grow the business until we tested dozens of marketing initiatives and refined the couple that worked.

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Mike Salguero

@mikesalguero

9 months

ButcherBox has processed $2.4B in WordPress orders over the past 8 years. But yesterday we officially migrated our entire business to @shopify . Here's is why we did it:

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Mike Salguero

@mikesalguero

2 years

It’s never been easier to start. You really don’t need to raise money to build a big business. I never took outside funding. We started with a few bucks and a Kickstarter campaign. Build a landing page, test your offer, and get your first few customers.

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Mike Salguero

@mikesalguero

2 years

Every employee at ButcherBox owns a piece of the company. We want everyone invested in the success of the business.

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Mike Salguero

@mikesalguero

2 years

Treat your people right. Good employees make or break your business, and you get good employees by treating employees well and giving them a fair piece of the pie.

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Mike Salguero

@mikesalguero

2 years

Stick with it. You really have to work on something for a year or two to give it a fighting chance. Don’t trend hop to whatever the hot thing of the moment is.

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Mike Salguero

@mikesalguero

2 years

Being home for dinner and bedtime. I have a young family, and eating dinner (of @butcherbox ) around the table is incredibly important to me, so I make it a priority. I have an email signature that warns people I might be off grid, and I have very few meetings that interrupt.

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Mike Salguero

@mikesalguero

8 months

ButcherBox is living proof you don't need VCs to build a $600M/ARR business. Here are 10 reasons you should say f*ck the VCs and bootstrap instead:

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Mike Salguero

@mikesalguero

2 years

Let employees grow with the business. When the business grows, your people should grow too. Promote and give raises often to keep your people striving for more. Your company will benefit from it.

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Mike Salguero

@mikesalguero

1 year

I’ve been thinking about what it takes to Bootstrap a business, and eventually want to create a Bootstrappers Manifesto online course. But in the meantime, here are some steps that I used to grow ButcherBox to a $600M business while never taking funding:

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Mike Salguero

@mikesalguero

2 years

But, you’re better off in an industry with good tailwinds rather than a stagnate one. Pick an industry that’s growing, but stick in it if building the business gets tough.

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Mike Salguero

@mikesalguero

9 months

7 business lessons I learned from scaling ButcherBox to $600M/ARR that you won’t find in any business book:

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Mike Salguero

@mikesalguero

2 years

Butcherbox is entering retail. We want our BUTCHERBOX freezers in grocery stores, and farmers markets across the county. A short thread on why! 🧵

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Mike Salguero

@mikesalguero

2 years

What you spend your time on is what you value. So what do I value? Being home for dinner and bedtime, ample 1:1s to be updated and coach/mentor, thinking/focus time, and working on myself... I've done the hard work to eliminate meetings that are not high value for me and others

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Mike Salguero

@mikesalguero

30 days

OK.. hear me out.. why don't we just buy $BYND and pivot them to an actual meat company?!

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Mike Salguero

@mikesalguero

2 years

Love for others to chime in below. Let me know what advice you have for others starting a business.

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Mike Salguero

@mikesalguero

11 months

You've heard of testosterone therapy, but have you considered grass-fed beef? Let’s challenge conventional wisdom on diet and hormonal health. Here are 10 reasons why grass-fed beef is the key to high testosterone:

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Mike Salguero

@mikesalguero

1 year

Think veganism is the only path to optimal health? The Ancestral Diet begs to differ. Here are 6 surprising reasons why grass-fed beef is the most natural choice for humans:

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Mike Salguero

@mikesalguero

11 months

Everyone wants to cook the best steak. But most people don't know what temperatures to cook it at. So I created a Printable Meat Temperature Cooking Chart for you to hang on the fridge. And the next 24 hrs, it's FREE! Like & Reply "SEND" to get the link. (Must be following)

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Mike Salguero

@mikesalguero

11 months

“Meat is the root of all evil!” A common statement by vegans and environmentalists. I partially agree. The meat industry is f*cked. But there’s still hope. Here are 6 surprising ways GRASS-FED beef actually HELPS agriculture:

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Mike Salguero

@mikesalguero

10 months

Eating like our ancestors is the key for optimal health. But most people don't know where to begin. That's why I outlined the 8+ Ancestral Diets you need to take back control of your health in 2023. And it's yours for FREE! Like this tweet & reply "SEND" to get the link.

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Mike Salguero

@mikesalguero

2 years

We have one piece of our site now on @Shopify … conversion rate for the week .. 12%. @harleyf and @tobi ain’t messing around! 🤯

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Mike Salguero

@mikesalguero

9 months

Most 'overnight successes' actually take 10+ years to build. ButcherBox hit $600M revenue with 0 funding. Here’s how we did it:

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Mike Salguero

@mikesalguero

11 months

97% of people live an unhealthy life. Because most of them have never heard of "Ancestral Diets" I wrote a FREE guide on the 8+ Ancestral Diets that'll help you realign your diet with nature & evolution. To get it, reply "✋" below & I'll DM you the link. (Must be following)

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Mike Salguero

@mikesalguero

11 months

Looking for the secret to a long, healthy life? The answer: it’s in your steak. Here are 8 ways grass-fed beef promotes longevity:

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Mike Salguero

@mikesalguero

1 year

Excited about lab-grown meat? Me too. But we shouldn’t neglect the downsides to this new food tech. Here are 10 reasons why you should stick to grass-fed beef (for now):

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Mike Salguero

@mikesalguero

10 months

Everyone wants to be healthy. But most people still just eat processed food. So I made a document outlining The 8 Ancestral Diets that'll supercharge your health in 2023. Could charge $25 for this, but next 24 hrs, it's FREE! 1. Follow me (so I can DM you) 2. Reply "SEND"

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Mike Salguero

@mikesalguero

2 years

@anothercohen magnesium!

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Mike Salguero

@mikesalguero

1 year

I reclaimed my health when I aligned my diet with our evolutionary needs. But most don't realize the potential of Ancestral Diets and grass-fed beef. Here are 7 steps to maximize your health with an Ancestral Diet:

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Mike Salguero

@mikesalguero

1 year

Happy Birthday to me! To celebrate, I am selecting one lucky follower in 42 hours to send 42 packs of bacon to! Winner at random, 1 entry for Liking, 2 for commenting, 3 for retweeting. 6 for all three!

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Mike Salguero

@mikesalguero

1 year

Can steak be the secret to better performance, energy, and health? Biohackers are finding surprising benefits in grass-fed beef. Here are 6 reasons why grass-fed beef is the next big biohacking trend:

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Mike Salguero

@mikesalguero

2 years

I founded ButcherBox in 2015 when we launched with $10,000 in savings and a KickStarter campaign. Since then, we’ve expanded to over 100 employees and hundreds of thousands of customers. Here is what I’ve learned:

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Mike Salguero

@mikesalguero

9 months

Entrepreneurs have a tendency to over-plan everything. But a business's true power is in action, not prediction. Here’s how building ButcherBox taught me how useless planning is:

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Mike Salguero

@mikesalguero

2 years

Lots of new followers - thanks for joining me. For those that don’t know, I started ButcherBox in 2015 to bring sustainable, high quality meat to people’s doors. Pop in and introduce yourself below, and let me know how I can help.

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Mike Salguero

@mikesalguero

11 months

Vegans claim longevity comes from fruit and veggies. Spoiler alert: they’re all wrong. Here’s why grass-fed beef is the secret to a long and healthy life:

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Mike Salguero

@mikesalguero

1 year

@josephflaherty @businessbarista @braveben I’m not going to deny timing was perfect, but Really it was the bootstrapping. This new podcast tells the story pretty well.

20VC: The Memo: Scaling to $600M Revenues with No Venture Funding, The Most In Detail Breakdown of...

Episode · The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · Mike Salguero is the Founder and CEO @ ButcherBox, the meat delivery subscription service that he has scaled to...

open.spotify.com

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Mike Salguero

@mikesalguero

1 year

Want a stupidly low CPM? Sponsor your local kids sport's teams!

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Mike Salguero

@mikesalguero

1 year

Think longevity can only be achieved through a plant-based diet? I guess you haven’t heard of grass-fed beef for promoting a longer life. Here are 8 reasons why grass-fed beef is the real secret to longevity:

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Mike Salguero

@mikesalguero

11 months

There are 80+ different cuts of meat. But most people don't know which ones are best. So I collected 50+ tips for always choosing the perfect cut of meat. Could charge $50 for them, but next 24 hrs, they're FREE! To get them: 1. Follow me (so I can DM you) 2. Reply "SEND"

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Mike Salguero

@mikesalguero

1 year

You've heard about clean eating, but have you tried grass-fed beef for mental wellness? Unlock your brain's full potential and say goodbye to brain fog. Here are 8 ways grass-fed beef can supercharge your mental health:

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Mike Salguero

@mikesalguero

1 year

Think plant-eating is the only path to a nutrient-rich diet? Grass-fed beef begs to differ. Here are 6 reasons why grass-fed beef is superior to veggies-only:

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Mike Salguero

@mikesalguero

9 months

Most businesses chase investors right out of the gate. At ButcherBox, we bootstrapped it. Here’s our journey to $600M broken down:

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Mike Salguero

@mikesalguero

2 years

If my head and body are not in a good place, I can't perform. And I am paid to perform, think, and strategize.

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Mike Salguero

@mikesalguero

4 months

We bought our first company last week! When I interviewed with @HarryStebbings he said become a media company. This is our first step in this direction. Hat tip @mcuban . We are pumped to build on an already great vision! See @TechCrunch

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Mike Salguero

@mikesalguero

10 months

Everyone wants to impress. But most people can't even cook a steak right. So I wrote "A Beginner's Guide To Meats", a 30-page PDF to make you a meat-cooking expert. Could charge $50, but next 24 hrs, it's FREE! To get it: 1. Follow me (so I can DM you) 2. Reply "SEND" below

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Mike Salguero

@mikesalguero

1 year

3. WE SAID NO TO VENTURE CAPITAL Most founders think they have to raise money from VCs in order to build a successful business. I wish they didn’t, because that’s not true. There are many other possible routes for building a business besides getting on the VC train.

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Mike Salguero

@mikesalguero

5 months

well that escalated quickly! Thanks @Shopify @harleyf

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Mike Salguero

@mikesalguero

1 year

Summer's almost over. But there's still time for BBQ parties. So I wrote a 75-page Grilling Cookbook with 25+ recipes & expert tips for hosting and feeding a crowd. Easily worth $50, but next 24 hrs it's FREE! To get it: 1. Follow me (so I can DM you) 2. Reply "STEAK" below

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Mike Salguero

@mikesalguero

11 months

I reclaimed my health by going back in time. But many overlook the nutritional wisdom of our ancestors. Here are 8 diets that stand the test of time (and align your nutrition with evolution):

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Mike Salguero

@mikesalguero

2 years

Working on myself. I follow a plan put together by @josiahfitness and team. I workout with weights 4 days a week, do a weighted vest walk every off day, and walk 10-12K steps a day. I also have two coaching meetings, one with a shrink one with a conscious leadership coach.

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Mike Salguero

@mikesalguero

2 years

Are you doing planning for 2023? Good! Here’s my annual recipe for getting great goals for the following year! We’ve done this annually to build a $600M revenue biz!

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Mike Salguero

@mikesalguero

8 months

@TaylorHoliday Small list. Probably more. 1. I stopped demanding pace. I relied on my staff to do it for me, and it bit me 2. We kept trying the same stuff and expecting different results 3. We let beureacracy creep in, and said no way more than saying yes. 4. I let too many of the OG crew

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Mike Salguero

@mikesalguero

1 year

Does anyone I know know @bchesky ? I keep having visions of an Airbnb partnership where people can have a box of meat waiting for them at their destination... would love to explore!!

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Mike Salguero

@mikesalguero

2 years

1:1s. Every week for certain positions (CMO, COO, CFO), Every other for others (VPs/SVPs) and every month for others in the company. I find bottlenecks in their thinking or in company process, and then go fix them. I like an hour because it allows for small talk! Most walking.

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Mike Salguero

@mikesalguero

10 months

I rebalanced my hormones naturally just by changing my diet. But most people don’t believe it's possible. Here are 8 steps to fix hormonal health with grass-fed beef (and prove the doubters wrong):

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Mike Salguero

@mikesalguero

1 year

5. WE FOCUS ON EMPLOYEES DOING "THE WORK" Everyone @butcherbox has a coach @BetterUp This has been an incredible lever in building a resilient company And it's so fun to watch people grow while growing our business.

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Mike Salguero

@mikesalguero

11 months

Brain fog, memory issues, or just feeling down? Could the answer be on your dinner plate? Here's how adding grass-fed beef to your diet can boost mental clarity and mood:

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Mike Salguero

@mikesalguero

1 year

Butcherbox headquarters in #watertownma is opening this Thursday. Come party with us! DM me for an invite!

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Mike Salguero

@mikesalguero

10 months

Grass-fed beef is a nutrient goldmine. But most people think a vegan diet is enough. Here are 10 reasons why veganism falls short on nutrient bioavailability:

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Mike Salguero

@mikesalguero

10 months

There are 80+ different cuts of meat. And most people don't know which one to pick. So I collected 50+ tips for always choosing the right cut of meat. Could charge $50 for them, but next 24 hrs, they're FREE! To get them: 1. Follow me (so I can DM you) 2. Reply "SEND"

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Mike Salguero

@mikesalguero

2 years

in 2020, @butcherbox we decided that we needed to control our own destiny by owning a critical piece of our infrastructure. No its not a farm, or a processing facility, or even a shipping service.... its dry ice!

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Mike Salguero

@mikesalguero

8 months

One of our competitors (well funded) went under about a month ago, taking a reported 2Million chickens down with them (euthanized bc couldn’t afford to feed them, and not used for meat). Reportedly multiple farms in financial trouble too because they were left holding the

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Mike Salguero

@mikesalguero

1 year

4. I LEAD WITH MY HEART Instead of trying to rule by "fear" I run the company with my heart. We try hard to build our team up, and encourage them to ride the talent curve by growing themselves.

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Mike Salguero

@mikesalguero

1 year

In honor of 420, I'm gonna go out on a limb here. If you asked me for the one PED I have taken over the years to help me be a better CEO, I would say weed! It's not always helpful, but has brought some unique advantages over the years. @elonmusk fyi. 🚬🧵👇

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Mike Salguero

@mikesalguero

1 year

9. WE TREAT OUR STAFF LIKE OWNERS AND ARE TRANSPARENT We teach about Gross Margin, Profits, how big expenses like salaries and marketing play into that, what it means to be resilient, and why we haven't raised money or gone public. This helps everyone know how to win.

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Mike Salguero

@mikesalguero

1 year

8. WE DON'T PLAN TO SELL OR GO PUBLIC We are looking at a 25+ year hold. Why? I believe that to transform meat and build a brand might just take a lifetime. So we dont perform with this year in mind. We build for future proofing.

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Mike Salguero

@mikesalguero

2 years

For 2023, I want to write more, I likely need that structured. I also want to mentor more people, both inside the company and outside. And I want to continue to maintain boundaries with my calendar. Because what you spend your time on is what you value!

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Mike Salguero

@mikesalguero

8 months

I scaled ButcherBox to $600M/ARR. But I never chose cash over customer happiness. Here are 7 tips to build a giant enterprise (that leaves an impact):

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Mike Salguero

@mikesalguero

1 year

Butcherbox is still wordpressing since 2015 (until full launch of @Shopify this year!

Ross Dzikovskyi

@WebRunLabs

1 year

If you're still using Wordpress for your SMB site in 2023, you are doing it wrong. Wordpress has a ton of problems:

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Mike Salguero

@mikesalguero

1 year

2. BOOTSTRAPPED: We started as a "hobby business" This forced us to start with being "box 1 profitable" in a subscription business It also caused us to start with a subscription and to only allow for customers to order curated boxes Dont worry, now you can customize!

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Mike Salguero

@mikesalguero

7 months

On Wednesday I guest lectured at two classes at HBS. The main takeaways: 1) better meat is a growing movement, and we are helping push it 2) having not raised money gives us distinct advantages over companies who have to drive an investment return. For example, if we don’t grow

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Mike Salguero

@mikesalguero

11 months

I’m going to call it. 2024 is the year of the partnerships. So much easier to say “let’s both not pass money to zuck and exchange it”. Email blasts, social collabs, let’s start working together. Managing a large brand and want to work together? DM me!

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Mike Salguero

@mikesalguero

1 year

I did a podcast with @HarryStebbings of @20vcFund and laid down a whole bunch o'lessons, starting with lifestyle design and how to design your business around your life... Thread below on other lessons..

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Mike Salguero

@mikesalguero

10 months

Forget the fountain of youth, the secret to living longer is in your steak. Here are 9 scientific ways grass-fed beef can add years to your life:

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Mike Salguero

@mikesalguero

2 years

Good entrepreneurs look at every problem as an opportunity to create a business. Inflation and supply chain issues are huge issues that companies need help combating.

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Mike Salguero

@mikesalguero

11 months

Think hormones can only be balanced with pills? Discover the hidden power of grass-fed beef in regulating hormonal health. Here are 6 eyebrow-raising benefits of grass-fed beef that could rebalance your hormones:

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Mike Salguero

@mikesalguero

9 months

I built a Printable DIY Recipe Book. Organize all your recipes into one singular book. Then print it, hang it on the fridge and start cooking. Could charge $20 for this, but it's yours for FREE! Like this tweet & Reply "SEND" to get the link. (Must be following)

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Mike Salguero

@mikesalguero

2 years

That's a wrap! If you enjoyed this thread: 1. Follow me @mikesalguero for more of these 2. RT the tweet below to share this thread with your audience

Mike Salguero

@mikesalguero

2 years

OK.. I'll bite! I run a $600M business, and this is a screenshot of my week next week, and a thread on some of my thoughts.

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Mike Salguero

@mikesalguero

10 months

Cooking your meat at the right temperature is key. But most don't know what the right temperature is. So I built the Printable Meat Temperature Cooking Chart. Could charge $15 for this, but next 24 hrs, it's FREE. To get it: 1. Follow me (so I can DM you) 2. Reply "SEND"

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Mike Salguero

@mikesalguero

2 years

The top 5 traits to be a great CEO. (1) be a sponge for information. (2) seek out and regularly meet with mentors. (3) have humility. (4) try to put best people in their right seat, and (5). Have a huge heart.

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Mike Salguero

@mikesalguero

2 years

Target and Walmart stock both hurting because of supply chain issues. Young entrepreneurs: Huge opportunity here for any solution that can help companies ease the pain of supply chain issues, even if just a little bit

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Mike Salguero

@mikesalguero

10 months

Most people wants juicy tender steaks. And it’s not rocket science, it's all in the grilling technique. Here are 6 tips to avoid you ever cooking a dry leathery steak again:

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Mike Salguero

@mikesalguero

1 year

Is anyone “crushing it” in DTC right now? Seems like a lot of “missing forecasts” and “revenue reforecasting” happening…

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Mike Salguero

@mikesalguero

2 years

If we can ship frozen raw meat to thousands of customers, I don’t think there’s a single product that can’t be delivered through the mail

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Mike Salguero

@mikesalguero

1 year

1. MISSION We started with a mission in mind. To transform meat. I'll start with Grass Fed Beef, because that's where I started. See the differences in density and quality of life between these two? You are what you eat eats. You can make a better choice with @butcherbox

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Mike Salguero

@mikesalguero

1 year

Not many people can say they built a 550 million dollar company of the back of no venture capital money I can And our strong start on KickStarter was a big part of that Here’s how ButcherBox gamed the Kickstarter system to our advantage 🧵👇

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Mike Salguero

@mikesalguero

2 years

ButcherBox started with $205,000 in pre-sales from our Kickstarter. $7,000 came from a single tweet by a Paleo blogger. That showed us the power of influencer marketing. By now, we have signed 100s of influencers (if not thousands)

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Mike Salguero

@mikesalguero

1 year

7. WE STRIVE TO BE CLOSER TO OUR CUSTOMERS, ALWAYS We do extensive surveying of our customers. And I try to talk with them often Just last week, we sent an email to all of them from my email. Tons of great learnings from this exercise and the 2,000+ emails I received!

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Mike Salguero

@mikesalguero

2 years

Today, our "How I Built This" episode drops! Every year there are 56,000 applicants for ~50 episodes. Here is a thread on things I learned being on the show.

‎How I Built This with Guy Raz: ButcherBox: Mike Salguero on Apple Podcasts

‎Show How I Built This with Guy Raz, Ep ButcherBox: Mike Salguero - Oct 3, 2022

podcasts.apple.com

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Mike Salguero

@mikesalguero

2 years

Which brings me to thinking and focus time. These are set times in my schedule to think, finish up something I was working on, or go meet with someone who I think could be helpful with something im pondering. This is the time I leave for random happenstance, and heavy thinking

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Mike Salguero

@mikesalguero

5 months

Yesterday I learned of an employee action that broke my heart. This is an example of CEO loneliness: Last year we moved into a new office. Late in the game, I said that we should “not buy all of the equipment upfront in case people use the space differently than we expected”…

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Mike Salguero

@mikesalguero

1 year

10. Finally. we have the best deals in town! We're always pushing the envelope on driving value for our valued members. Happy members = referrals! You can learn more here: Use PromoCode MIKESENTME for additional $s off your first box!

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