I was a sponsor of Impact 2016 again this year. Impact is an annual three-day gathering of CEOs of small to medium-sized businesses. Our closing speakers this year were the “Ice Chip Grannies.” These are two grandmothers who have started a number of businesses. But they’ve finally hit the big time with a sugarless candy called Ice Chips. They are experiencing extraordinary growth and success.
In 2013, the Ice Chip Grannies, Beverly Vines-Haines and Charlotte Clary, appeared on an episode of ABC’s Shark Tank. (Search YouTube for ‘Ice Chips Shark Tank’ to see a ten-minute edit of the hour-long appearance.) They got multiple offers from the sharks but ultimately ended up turning down all the offers and not taking the money. They were paid for their appearance on the show and that provided the capital to build a plant and automate production of the candy, which was the whole point of going on the show.
They now have a promotional tie-in to the Disney movie, Finding Dory. This is the first Disney movie with a candy tie-in in 40 years. The goal of the grannies is to make Ice Chips as ubiquitous as Altoids.
Their presentation at Impact 2016 in late September was about growth and the changes it brings to a business. Their observations about the extraordinary growth and what they’ve learned were the highlight for me. Some examples…
Putting out Fires
One of their main jobs is putting out fires. That is, staff can take care of most things when things go as intended. But when the unexpected happens—a fire—they have to figure out the solution.
Hire People Smarter Than You
They suggested, and this isn’t unique, that business owners hire people smarter than themselves. This is most true in areas of specialized expertise, such as computerized systems, automated manufacturing processes or interstate tax compliance.
It’s Not a Family Anymore
Many of their early employees regret that the company doesn’t feel like a family anymore; that they are cut off. The grannies readily admitted that this is true and there is nothing that can be done about it. A big company can’t feel like a family.
The Hardest Thing
The hardest things as a company grows and changes are the personnel issues. In many cases, early, valued employees are outgrown. It’s hard and it’s sad, but sometimes a relationship just has to come to an end.
Young People Want Everything Perfect
The grannies noted that they see young entrepreneurs who want to get everything perfect before they start operations. The logo needs to be just so and the office set up beautifully. The grannies advised a more seat-of-the-pants approach. Buy only things you can afford without going into debt, such as used furniture set up in the founder’s garage. The point is to avoid debt but more importantly, to get out and make sales. The grannies have failed at a number of businesses, so they don’t fear failure. They observed that young people tend to avoid trying to make sales for fear of failure or rejection. If you fear failure or rejection, you probably shouldn’t be starting a business.
The Ice Chip Grannies were an inspiration to me. Their common sense and ego-less confidence were like a breath of fresh air. We’re all going to know about Ice Chips candy soon.
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