How Mike Salguero Scaled A $600 Million/Year Business With No Venture Funding

The Dealroom with Shamus Madan

In this episode, Shamus Madan talks to Mike Salguero about his entrepreneurial journey, from his early ventures to the birth and growth of ButcherBox. They discuss the impacts of venture capital, hiring strategies, and the future of meat consumption, concluding with advice for young adults.

Let’s talk about entrepreneurship. Over the last few decades, it has gone from being looked at as “taboo” to being idolized. And since the creation of the internet and social media, it looks like everyone is becoming one. We are sitting down on our couch, consuming the stories of people successfully building their companies and thinking, “Oh, I could have done that!” With there being over 582 million entrepreneurs in the world, the competition is next level. That begs the question…how do you do it? And what if you can’t raise any VC money for my business idea? Can you still have a business?

The answer is yes, and today as a guest, Mike Salguero will share his story of building a $600 Million business from no venture funding. And he will share why, after his last company has not taken a dollar from VC, and maybe why you shouldn’t either.

Twitter of Host (Shamus Madan): @mbitpodcast

Twitter of Guest (Mike Salguero): @mikesalguero

To get $30 off your first box use the code MIKESENTME at https://www.butcherbox.com/

(0:00) Introduction to the episode and guest, Mike Salguero (6:19) Mike's life experiences and how they shaped his entrepreneurial journey (10:00) Lifestyle design in entrepreneurship and Mike's first venture (13:13) The inception, growth, and eventual closure of Custom Made (18:21) Reflections on hard work, product market fit, and challenges of scaling a company (24:49) Venture capital: The pressure, impact on business growth, and potential drawbacks (27:31) The birth of ButcherBox: From a personal health journey to a business idea (31:21) The barbell strategy for hiring and maintaining company culture (36:50) ButcherBox's environmental impact and the future of meat consumption (42:01) Career and financial advice for young adults (47:20) Learning more about ButcherBox and wrapping up the episode