Ep 19: Leading Through a Turnaround
In this episode of Direct Approach, Wayne is joined by Jill Blashack Strahan, Founder & CEO of Tastefully Simple.
Jill launched Tastefully Simple in 1995 with $36,000 and a hunch that consumers were looking for high quality, easy-to-prepare foods. Her hunch paid off, and in its first eight years, Tastefully Simple grew into a $113 million company, selling US-made seasonings, sauces, baking mixes, and meal and entertaining kits. By 2008, the company boasted sales of $143 million and had thousands of consultants nationwide—but then began an 11-year decline in sales.
With sales in a freefall, Tastefully Simple was burning through millions of dollars in cash reserves. To course correct the business, Jill invested $5 million of her own money back into the company but found herself facing new challenges as she struggled to turn the company around.
Today, on Direct Approach, Jill and Wayne talk about some of the lessons she learned while trying to keep the company afloat, how she turned inward to find answers, and how she found the courage to keep going in the face of fear. She also talks about the important role that changing her way of thinking played in the company’s success and why it’s important for leaders to practice self-care to help their companies thrive. This thoughtful and revealing look behind the scenes of her company’s turnaround is filled with incredible takeaways for any business leader.
Watch the video below or listen to the podcast.
Wayne Moorehead has deep experience in marketing and brand strategy. He has applied his expertise and passion to help companies (from startups to Fortune 100) define, communicate and activate their brands. Wayne’s rare blend of experience and success has shaped his philosophy on effective growth strategies, and he believes the future of the channel will blend the best of direct selling with the best of direct-to-consumer.