On this episode of the Ask Brien Show, our hosts Brien Johnson and Traci DeForge speak with Taufeek Shah about his family business, Lola’s Fine Hot Sauce, built on his mother’s special recipe. Taufeek shares the unique origins of the sauce, how he started the company after a corporate potluck, and how Lola’s sauces and product lines continue to grow and diversify. Brien, Trace and Taufeek discuss what it’s like to work closely with his mom, how COVID has impacted their supply chain, and their dreams of expanding into international markets in the future.
IN THIS EPISODE:
- [06:06] Taufeek introduces himself and his background
- [8:00] The origins of the hot sauce
- [10:25] How Lola’s started
- [11:45] Scaling the business
- [15:20] Lola’s growth timeline
- [18:00] Where to buy Lola’s
- [18:42] Lola and Lowe’s ‘Shark Tank’ experience
- [19:50] What was the catalyst for Lola’s growth
- [21:50] Lola’s products and merchandise
- [24:24] Behind the scenes of a family business
- [28:33] How international growth would impact Lola
- [29:12] Characteristics of a successful entrepreneur
- [30:12] Top 3 challenges of building a startup
- [34:00] How has COVID impacted supply chain of Lola
- [35:03] Tips for other entrepreneurs
KEY TAKEAWAYS:
- Passion is a given for any entrepreneur. You have to be passionate about what you’re doing!
- COVID’s impact on Lola’s supply chain and product costs has been significant but their forward-thinking perspective and goal setting has helped balance out these challenges.
- Hustle, patience and integrity are key factors to being successful in creating a new product or business.
- Google and mentors go a long way in being an entrepreneur and growing a company from the ground up.
Links Mentioned:
BIO:
Taufeek Shah is the CEO of a global food company specializing in hot sauce condiments, chocolates, and cocktail mixers. He oversees their Des Moines team in ensuring products are manufactured, delivered, and quality controlled. He also specializes in handling market analysis and trends with the company.
