She is the founder of Fatso, an all-natural peanut butter company that began as a side hustle in the back kitchen of a local restaurant.
In October 2018, Jill appeared on Dragon's Den, Canada's version of Shark Tank. Her ask on the show was $200,000 for 15 percent of the company. Jill received four offers in the episode and she made a handshake deal for $200,000 for 30 percent of the company.
After the recording, Jill met the Dragons' to formalize the deal with new numbers. Fatso peanut butter had been evaluated at twice its original amount and Jill Van Gyn wanted the deal to reflect that.
In the end, she walked away from the deal.
Now, let's hack…
Jill Van Gyn
Highlights from the Interview
- [00:38]: Jill feels that one of the biggest contributors to her success has been recognizing areas where she didn't have a lot of expertise. She hadn't planned on being an entrepreneur earlier in her life, and came into it without an academic background in business. She realized early on that she needed the expertise of other people to help her reach her goals. Eventually, she actually discovered that she had a knack for identifying expertise in other people.
- [15:00]: Jill reveals that she's been through recovery for addiction, starting around nine years ago, and that this has shaped her outlook on her life and her business. She goes on to explain that part of that process involved getting her Master's degree to move her life forward, but unfortunately, the job market wasn't too great in her field.
- [24:52]: Jill discusses the dangers inherent to tying your person sense of self-worth too closely to your perceived productivity within society — income, career success, etc. It's not good for your mental health and emotional stability.
- [38:59]: Jill explains that she developed her product to compete with some of the expensive nut butters out there on the market, providing consumers with something “in between” basic mass market brands and ultra-premium brands.
Links and resources from the interview
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