The Money Mondays: How Ashley Rogers Built A $9M Brand In Just 4 Years (E98)
Release Date: December 2, 2024
Host: Dan Fleyshman
Guest: Ashley Rogers

Introduction: Welcome Ashley Rogers

In the 98th episode of "The Money Mondays," host Dan Fleyshman welcomes entrepreneur Ashley Rogers to discuss her remarkable journey in building multiple successful brands within the consumer packaged goods (CPG) space. Filmed outside Dan's expansive 26-acre ranch in Temecula, California, the episode delves deep into Ashley's entrepreneurial strategies, her ventures from meal prep to Sprinkles Cupcakes, and her insights into the business world.

Ashley Rogers: From Humble Beginnings to CPG Success

Ashley begins with a candid introduction, highlighting her unconventional path to entrepreneurship.

Ashley Rogers [00:05]: "I barely graduated high school. So I feel like, but that's like, that's in my blood. That's like in my DNA, you know, it's like I figure stuff out and I learn off real life experience."

Her entrepreneurial journey kicked off while working as a cocktail server at the Hard Rock in Vegas. The experience ignited her desire to create her own ventures, leading her to launch a meal prep company focused on healthy eating before it became a trend. This venture was subsequently sold to one of her employees, setting the stage for her next success.

Building a Brand: From Buff Bake to Sprinkles CPG

Ashley recounts her transition from meal prep to founding Buff Bake, a protein cookie brand that achieved significant retail presence, including major retailers like GNC and Vitamin Shoppe.

Ashley Rogers [02:07]: "And then started my next brand was Buff Bake, a protein cookie. I barely graduated high school, so it taught me everything that I knew about business, sales, marketing, logistics, everything."

After four years, she exited Buff Bake and co-founded Spudsy, raising over $9 million and scaling the brand to 20,000 retail locations nationwide. Recently, she sold Spudsy and is now at the helm of Sprinkles CPG, innovating with products like cupcake cups—a fusion of chocolate bars and cupcake frosting.

Ashley Rogers [03:16]: "Which is basically a peanut butter cup, but instead of nut butter inside, it's cupcake frosting."

The Crucial Role of Clear Business Partnerships and Agreements

Dan and Ashley engage in a playful yet insightful discussion about the importance of clearly defined business agreements. Dan illustrates the pitfalls of assuming roles and equity distributions with a hypothetical lemonade stand scenario.

Ashley Rogers [08:04]: "Exactly. That's why they should. I thought you started our company 50-50. That's what I was assuming this whole time."

Their conversation underscores the necessity of formal agreements, such as Memorandums of Understanding (MOU) or Scopes of Work (SOW), to prevent misunderstandings and ensure equitable partnerships.

Navigating the Competitive Food and Beverage Industry

Ashley shares her strategic approach to identifying market gaps and launching innovative products. With Spudsy, she pinpointed a niche in the vegetable snack market by introducing sweet potato puffs, differentiating her product from others.

Ashley Rogers [10:47]: "It's really important to be innovative and create something that's different. So that's what the sweet potato puff was."

She emphasizes the significance of a strong data-driven story when pitching to major retailers, ensuring that her products stand out in a crowded market.

Ashley Rogers [11:36]: "One, because hopefully it's not another me-too product. It's something innovative and different."

Ashley also discusses the challenges of maintaining product performance across various retail outlets, highlighting the complexities of logistics, distribution, and retailer relationships.

Investing in Oneself and Strategic Team Building

A key takeaway from the episode is the importance of self-investment and building a competent team. Ashley advocates for entrepreneurs to leverage their strengths by hiring experts in areas where they might lack expertise.

Ashley Rogers [25:20]: "I also think it's really important to invest in the right people. So it's not only things, it's like yourself, but it's also the right people."

Dan adds that outsourcing time-consuming tasks like accounting can free up entrepreneurs to focus on growth-driving activities such as sales and marketing.

Dan Fleyshman [26:37]: "But how much are you worth? Like would you have you worth more than five grand a month?"

Successful Exit Strategies: Knowing When to Move On

Ashley highlights the nuanced decision-making process involved in exiting a business. It involves assessing company distribution, market saturation, and personal readiness to move forward.

Ashley Rogers [33:18]: "The timing of it, I feel like, is an art in itself. But I mean, as a founder, you just, I mean, you just know... I'm a big gut instinct person, you know, you just go with your gut."

This segment emphasizes the blend of strategic planning and intuitive judgment necessary for successful business exits.

Incorporating Charity and Authenticity: Building a Purpose-Driven Brand

The conversation shifts to the role of charity and authenticity in business, with Ashley expressing a strong desire to integrate charitable efforts into her ventures.

Ashley Rogers [35:47]: "I feel like, for me, investing in myself is everything because, I mean, I believe in myself and I know that I'm going to execute and bring something to life. So that's like literally how I invest, as I invest in myself, and every single time, it's paid off."

She also touches on offering equity to employees as a form of empowerment and investment, fostering a sense of ownership and commitment within her teams.

Ashley Rogers [35:17]: "But all my employees, they get equity in my. So I guess you can look at that as like a charity piece of it."

Authenticity is presented as a cornerstone of her business philosophy, crucial for genuine consumer connections and brand loyalty.

Ashley Rogers [40:55]: "Authenticity is everything... People nowadays are so smart that if you are not 100% authentic... people see that and they don't invest in you."

Legacy and Wealth: Planning for the Future

In a thought-provoking exchange, Dan and Ashley discuss the concepts of legacy and wealth, pondering how future generations will perceive and manage inherited wealth.

Ashley Rogers [36:21]: "I would say at least half of it... I want to give some to charity and the things that I'm passionate about... Enough that my kids and their kids are set for life."

This segment delves into the responsibilities that come with wealth and the importance of thoughtful inheritance planning.

Closing Thoughts: Embracing Authenticity and Strategic Growth

As the episode winds down, both Dan and Ashley reiterate the importance of authenticity, strategic investment, and clear business practices. They encourage listeners to engage in open discussions about money and financial strategies within their personal and professional circles.

Dan Fleyshman [43:09]: "Make sure to have these important discussions with your friends, family and followers about money. Because we all grew up thinking it's rude to talk about money. I think it's rude to not talk about it."

Ashley promotes her online presence and upcoming programs aimed at educating aspiring entrepreneurs about navigating the CPG landscape.

Ashley Rogers [41:31]: "I am Ashley Rogers. And then there are Sprinkles Cupcakes and Sprinkles Chocolate on Instagram."

Key Takeaways

1. Real-Life Experience Matters: Practical, hands-on experience is invaluable and often outweighs formal education in entrepreneurship.
2. Clear Agreements are Essential: Defining roles, equity, and responsibilities upfront prevents future disputes and misunderstandings.
3. Innovate to Stand Out: Identifying market gaps and creating unique products are crucial in the competitive CPG industry.
4. Invest in Yourself and Your Team: Personal development and strategic hiring empower business growth and operational efficiency.
5. Authenticity Builds Trust: Being genuine fosters stronger consumer relationships and brand loyalty.
6. Strategic Exits Require Timing and Intuition: Knowing when to sell or move on is as much an art as it is a science.
7. Legacy Planning is Important: Thoughtful inheritance and wealth management ensure long-term family and charitable impacts.

For those eager to learn from Ashley Rogers' journey and gain deeper insights into building successful CPG brands, following her on Instagram at @IAmAshleyRogers and keeping an eye out for her upcoming masterminds and courses is highly recommended.

Listen to the full episode here and join the conversation about money, investments, and authentic entrepreneurship every Monday on "The Money Mondays."