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From Wall Street To Startup: Bantam Bagels’ Co-Founder Shares Her Post Shark Tank Success Story

Business

In a world of fresh and organic, the concept of frozen food seems relatively taboo in the expanding culinary industry, yet still, as a $50 billion industry within the United States, this aisle of the grocery store is actually more relevant than you'd think.


Co-founder of Bantam Bagels, Elyse Oleksak realized this relevancy, while simultaneously recognizing how little development the frozen food sector had in the past ten years. Thus, from a one-off dream her husband had, the couple left Wall Street and pursued the disruption of the frozen food industry.

"Frozen breakfast is brand new to this renaissance in people looking for better food," says Oleksak. “It's an uphill battle fighting against some of the largest brands in the world--the Eggos and Jimmy Deans, but we're bringing that authenticity and uniqueness."

What began four years ago as a small storefront selling mini stuffed bagels on Bleecker Street has since developed into a deal on Shark Tank, a partnership with Starbucks as a national account and the release of their second product, Pancake Balls, to continue the line of frozen breakfast, which Oleksak describes as, “Saturday morning comfort, without feeling too indulgent."

"We thought our strategy would be franchising the shop, but we realized it was less about these little shops and more about creating something that's accessible," says Oleksak. She explains that even though the concept of Bantam Bagels stemmed from the lack of innovation in their hometown of New York City, they realized that there was an untapped market throughout the nation.

So, after only six months into building their brand, the Oleksaks went on Shark Tank to gain national presence, as well as quality guidance.

“We went to Shark Tank for another layer of expertise, and of course, the capital," says Oleksak. “We would quiz each other walking through the park with every question ever asked on Shark Tank. We had eye signals on how we would respond to deals."

Oleksak continued to explain that even though the duo kept an open mind on accepting offers, they entered the show knowing who they wanted to take a deal from, Lori Greiner. And this is exactly what happened.

"The partnership with Lori is incredible," shares Oleksak. “She's with us every step of the way, and I feel so lucky that she is what we hoped and expected her to be." Oleksak also notes how empowering it is to be coached through the company's founding years by another woman, saying, “It's also fascinating to see how females view business as a series of relationships rather than transactions."

From the early days of Bantam Bagels to expanding the brand's product, Oleksak remembers the differences of running the company as a female, even with her husband as a business partner.

“I spent my first pregnancy entirely in the shop," she says. “There came a time when I was at nine months and had to step sideways because no one could get past my belly."

Yet, even as Oleksak reflects on this as one of the challenges of leading as a female entrepreneur, she adds that it's just another layer of the business that helped her create an authentic brand which reflects both her and her husband's similar mindset.

“I'm a doer and a mover, and it was almost easier having something that I was so passionate about; creating a future for the family that we were creating."

It's this mindset that also gives way to Oleksak's theory of existing as a female entrepreneur. For her two boys, she says that “they're seeing me as an equal in a man's world." "The food world is definitely still male dominated but it's what drives me to work so hard. So when they grow up, an imbalance between males and females in the workforce isn't even a thought."

Bantam Bagels celebrated their third product release in July--mini stuffed bagels with egg and sausage in the middle--and their steady growth in more than 16,000 stores nationwide.

“For us, developing the authentic brand and developing that connection [with customers] while we blow out and grow our distribution is our main focus," says Oleksak. She notes that each week they may be in a new grocery store, and still will respond personally to emails and social media as part of who they are as founders. “Food is so personal. You have a choice, you can either cook something and make it personal to you, or you can invite an external food into your home—and I think you need to earn that as food brand."

Update: According to Entrepreneur, the couple recently sold the business to T. Marzetti Company (owned by the publicly traded Lancaster Colony Corporation) for $34 million.

How to Learn Much More From the Books You Read

It is one thing to read and another thing to understand what you are reading. Not only do you want to understand, but also remember what you've read. Otherwise, we can safely say that if we're not gaining anything from what we read, then it's a big waste of time.

Whatever you read, there are ways to do so in a more effective manner to help you understand better. Whether you are reading by choice, for an upcoming test, or work-related material, here are a few ways to help you improve your reading skills and retain that information.

Read with a Purpose

Never has there been a shortage of great books. So, someone recommended a great cookbook for you. You start going through it, but your mind is wandering. This doesn't mean the cookbook was an awful recommendation, but it does mean it doesn't suit nor fulfill your current needs or curiosity.

Maybe your purpose is more about launching a business. Maybe you're a busy mom and can't keep office hours, but there's something you can do from home to help bring in more money, so you want information about that. At that point, you won't benefit from a cookbook, but you could gain a lot of insight and find details here on how-to books about working from home. During this unprecedented year, millions have had to make the transition to work from home, and millions more are deciding to do that. Either way, it's not a transition that comes automatically or easily, but reading about it will inform you about what working from home entails.

Pre-Read

When you pre-read it primes your brain when it's time to go over the full text. We pre-read by going over the subheadings, for instance, the table of contents, and skimming through some pages. This is especially useful when you have formal types of academic books. Pre-reading is a sort of warm-up exercise for your brain. It prepares your brain for the rest of the information that will come about and allows your brain to be better able to pick the most essential pieces of information you need from your chosen text.

Highlight

Highlighting essential sentences or paragraphs is extremely helpful for retaining information. The problem, however, with highlighting is that we wind up highlighting way too much. This happens because we tend to highlight before we begin to understand. Before your pages become a neon of colored highlights, make sure that you only highlight what is essential to improve your understanding and not highlight the whole page.

Speed Read

You might think there have been no new ways to read, but even the ancient skill of reading comes up with innovative ways; enter speed reading. The standard slow process shouldn't affect your understanding, but it does kill your enthusiasm. The average adult goes through around 200 to 250 words per minute. A college student can read around 450 words, while a professor averages about 650 words per minute, to mention a few examples. The average speed reader can manage 1,500 words; quite a difference! Of course, the argument arises between quality and quantity. For avid readers, they want both quantity and quality, which leads us to the next point.

Quality Reading

Life is too short to expect to gain knowledge from just one type of genre. Some basic outcomes of reading are to expand your mind, perceive situations and events differently, expose yourself to other viewpoints, and more. If you only stick to one author and one type of material, you are missing out on a great opportunity to learn new things.

Having said that, if there's a book you are simply not enjoying, remember that life is also too short to continue reading it. Simply, close it, put it away and maybe give it another go later on, or give it away. There is no shame or guilt in not liking a book; even if it's from a favorite author. It's pretty much clear that you won't gain anything from a book that you don't even enjoy, let alone expect to learn something from it.

Summarize

If you're able to summarize what you have read, then you have understood. When you summarize, you are bringing up all the major points that enhance your understanding. You can easily do so chapter by chapter.

Take a good look at your life and what's going on in it. Accordingly, you'll choose the material that is much more suitable for your situation and circumstances. When you read a piece of information that you find beneficial, look for a way to apply it to your life. Knowledge for the sake of knowledge isn't all that beneficial. But the application of knowledge from a helpful book is what will help you and make your life more interesting and more meaningful.