From an Agency to a “Cereal” Entrepreneur | Margaret Wishingrad | Three Wishes
Honest Ecommerce · with Margaret Wishingrad · January 9, 2023 · 26 min
Summary
Margaret Wishingrad, co-founder of Three Wishes cereal, shares her journey from ad agency Chief of Staff to CPG entrepreneur. This episode offers valuable insights for agency owners considering launching their own brands, highlighting how agency experience — particularly with diverse client budgets and go-to-market strategies — can provide a significant advantage in building a successful direct-to-consumer and retail business.
Key takeaways
Leverage agency experience by applying lessons learned from both large and small clients to your own brand's strategy, especially in efficient budget allocation and marketing. Small client experience in particular helps in navigating resource constraints common to startups.
Don't overthink branding and packaging when it's your own product. While agency experience provides expertise, being too close to your own brand can lead to analysis paralysis. Be decisive and agile.
Embrace both DTC and retail channels from early on. Three Wishes successfully scaled by securing placements in major retailers like Whole Foods while simultaneously building a strong direct-to-consumer presence.
Be nimble and ready to pivot. If a particular strategy isn't working and is burning capital, be quick to adjust your approach rather than stubbornly holding onto it.
Recognize that problems are an inherent and normal part of building a business. Expect challenges and factor them into your planning and mindset.
On this podcast, we talk about Three Wishes’ creative marketing tactics, learning from agency clients and applying it in their own business, the harsh realities of going retail first, and so much more!
What does this episode say about founder & leadership?
Leverage agency experience by applying lessons learned from both large and small clients to your own brand's strategy, especially in efficient budget allocation and marketing. Small client experience in particular helps in navigating resource constraints common to startups.
What does this episode say about dtc strategy?
Don't overthink branding and packaging when it's your own product. While agency experience provides expertise, being too close to your own brand can lead to analysis paralysis. Be decisive and agile.
What does this episode say about retail & omnichannel?
Embrace both DTC and retail channels from early on. Three Wishes successfully scaled by securing placements in major retailers like Whole Foods while simultaneously building a strong direct-to-consumer presence.
What does this episode say about brand & content?
Be nimble and ready to pivot. If a particular strategy isn't working and is burning capital, be quick to adjust your approach rather than stubbornly holding onto it.
What does this episode say about founder & leadership?
Recognize that problems are an inherent and normal part of building a business. Expect challenges and factor them into your planning and mindset.
