YouSaid · the spoken record

Arran and Ratana Stephens

lines on the record: 87
first: 2022-05-23
most recent: 2022-05-23
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“But just let me ask you what was nature's path going to make? The idea from the beginning was inspired by PepsiCo and Coca-Cola.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Got it. You get bored of the restaurant business and you're thinking, I want to get back in because you'd been making your own products. You had a company that made peanut butter and yogurt and other products.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Tell me what I would eat there if I got there in 1981. Would you get a lentil soup or a tofu stir fry or a chickpea curry?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“We come back in just a moment how Ratna and Eren figure out how to start a new business without partners and how they cope with a brand new cornflake factory that cannot make cornflakes. Stay with us, Guy Raz, and you're listening to how I built this. Hey, welcome back to How I Built This I'm Guy Raz. So it's the early nineteen eighties and because of a bad business partnership, Aaron and Ratna have just sold their health food store live stream, but they're still running the restaurant in the back of the store, and business there is doing so well, they decide to open a second location, and they call it woodlands.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“You basically said, okay, I need to understand what happened here and to prevent that from happening again so you basically dove into learning about finance and accounting.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Now, take that in a multiple of five. That's a $60 million business, which would be a pretty good outcome. Is that about right?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Alright, so you basically and the partners decide to resolve this, you're just going to have to sell this business. You've been doing 12 million Canadian dollars in revenue a year. So, I'm thinking.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“So you give away a third of the business to a partner. And this was somebody who was a friend. And how did it go? Did it work out okay?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“And Ryan was laughing. I know where this is going, but I want to hear the story. I'm just trying to understand. Did you feel like you needed a partner because you were, I don't know, you wanted just that extra confidence that there was somebody else in the foxhole with you?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Wait, yeah, tell me the story. There was a friend of yours, and this friend wanted to join. And tell me what you thought. You were thinking, what?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“And so, from what I gather, you had two retail stores in Vancouver by nineteen eighty, you had a warehouse that was making things like peanut butter and yogurt, I think like 20 to 25% of the things you were selling at Live Stream were your own products and brands, you had seven, eight million dollars of annual sales. I was about 12 million. 12 million means even better. I mean, did you feel 12 million in annual sales? It depends. Of course, there are expenses and there's rent and there's employees. Did you feel financially secure at that point, or do I have that totally wrong?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“How did you guys manage that? You had, I think, your first child, you would have four kids. You had your first child shortly after you arrived in 1970. You know, back in India you would have had family to help you, you'd have had relatives, and so how did you manage? Tell me about it.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“And from what I understand, like Aaron, you focused on the store and Ratna, you focused on the restaurant in the back. Is that right?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Okay, well, but that's not in pretty good. And I remember I interviewed John Mackey, the founder of Whole Foods, on the show a couple years ago. We talked about his first location in Austin. And, you know, back in the late 60s, there weren't, I mean, there was no Haynes Celestial or these massive organic food brands, nature's path. There's nothing like that. There were a lot of mom and pop. A lot of mom and pop stores How did you tell me a little bit about how you filled a 4,000 square foot store with natural products? Where were you, I mean, were these mostly American companies? Were they mostly Canadian brands?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“And clearly there was people who were coming in. You were a market for it. So I guess around 71, you decide to open a bigger store to sell more. More prices called Live Stream. Do you remember how, I mean Today, right, the barrier to do that in a place like Vancouver would be enormous, just getting the space and the lease and the real estate, and you'd have to put so much money up and there'd be lawyers and real estate agents. Was it just easier to do it in 1971?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“So, how did you decide to start? I mean, because this was a store that was selling textiles and things like that, how did you decide to start selling food?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“But, all right, so you get to Canada And Aaron, you get you have this restaurant Golden Lotus. It's 1969. Some assuming the both of you go right back to work at the restaurant.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“That's good. That's good. I'm glad to hear it. And Ratna, how was yours at the time, were you already fluent in English and that was no problem?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“So, alright, so Radna, you agreed to marry Aaron. And he was a Canadian. I mean, it's crazy because obviously you're still married, so it's worked, right? We know the ending of this, but let's go back to 1969. Because if I was there, I'd be like, Ratna, I don't know, man. Are a little risky here. You know this guy, you don't barely know him, he's Canada, you don't have to leave, but clearly you were like, let's do it. And you agreed to move to Canada. With”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“It's remarkable because, of course, arranged marriages are still very common in many countries around the world and work, right? And oftentimes they work better than marriages in Western countries that are not arranged, but I've never, I don't think I've ever heard of an instance of an arranged marriage with somebody completely from the outside, somebody coming from the West to India. Was that unusual at the time?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Right? I mean, but obviously you did get married. And so what, I mean, because essentially it was kind of like an arranged marriage in a sense, right? Yes.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Wow, you just left the restaurant, presumably in the... Hands of competent people who kept running it. Tell me how you met Rodna. Where and how”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“I want to jump ahead a little bit and understand, Aaron, how you and Ratna met. You took a, from what I understand, you take a trip. This is your second trip to India, 1969, presumably again to meet your sort of spiritual mentor It was 68, not 69.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“But when you were still pretty young, your family had to flee the country during the partition in the late 1940s, a very chaotic and violent time. And you eventually resettled in India. But despite all of that, I read that you actually had a pretty happy childhood.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“That's pretty impressive. Running a restaurant is a complex business. I mean, you've got to get the right amount of food and the right amount of supplies and you don't want to buy too much and you've got to figure out how to price it out and you've got to hire chefs and kitchen staff and wait staff. How did you manage all that? I mean, just a logistics of it. Do you remember ever feeling overwhelmed by it?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“How did you do it? I mean, you had no experience in the industry. You didn't, maybe you were a decent cook. I don't know. How did you do it?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Alright, so you come back to Vancouver after a seven-month trip in India. Inspired by your time there to open up a restaurant. It was called Golden Lotus. What kind of restaurant was it? Was it Indian food or all kinds of food?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“I'm curious, Aaron, you're 23 years old. It's 1967. India, I mean, was really becoming... Important place for a particular kind of, let's say, spirit seeking Western visitor, obviously the Beatles famously were among them. What was your impression of India? I mean, when you got there and you finally meet Spiritual sort of mentor, and you're in the old city in Delhi, which is a really cool place. Was it everything you imagined? Was it what you had hoped it would be?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Know, I hate to use this word because I think it's overused, but you kind of major way towards hippie culture. Is that right? Is it fairly true?”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Aaron and Ratna didn't start nature's path until they were in their early 40s, and even then it would take at least five more years before they started to get some traction with cereal. And along the way, the two of them built a company that now produces everything from waffles to tortilla chips. The two of them met, well, they basically had an arranged marriage. Aaron was a Canadian traveler and devotee of a spiritual guide in India. Ratna was Indian and also a student of the same spiritual leader. They barely knew each other when they got married. That was in nineteen sixty nine, and they're still happily married. Anyway, you'll hear all about it. But first, Aaron Stevens grew up on an organic farm outside of Vancouver. But when he was in high school, his father moved the family to Los Angeles.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Flashy logo of a field of grains on the bag, and yet despite almost no marketing, nature's path owns about three to five percent of the organic cereal market. That's pretty significant for a company that started out by selling frozen sprouted wheat bread from the back of a vegetarian restaurant in Vancouver, Canada.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Fresh air, you know, plucky little upstarts until you discover one important thing. All of those brands are owned by Kellogg's, General Mills, and Post. Now there's nothing wrong with that. Most of these brands were at some point independent, and they're still pretty good products. But over the past 20 years, big multinationals have bought up many of the organic brands you're probably familiar with, which makes today's story somewhat unusual in that nature's path is both a significant player in the breakfast cereal market and still totally independent, totally owned by its founders Aaron and Rottena Stevens. If you've walked into a Whole Foods, you've seen their stuff. The corn puffs with the baby gorillas, pandas, and koalas on the bag, the heritage flakes with its hippie font.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“There are two companies in America that basically own the morning. One is called Kellogg's, the other General Mills. The top ten cereals in the US include honey nut cheerios, frosted flakes, cinnamon toast crunch, fruit loops, and so on. In other words, General Mills, Kellogg's, General Mills, Kellogg's, and on and on, with one important exception. Post, the other serial giant in America is in there with honey bunches of oats. But when it comes to the organic cereal market, well, the names are a bit different. You've got your Cascadian farms, Kashi puffs, Barbara's puffins, you know, the names you might see at Whole Foods or a Natural Foods Co op. These are the brands that dominate the organic space, which might sound like a breath.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“Welcome to How I Built This is a show about innovators, entrepreneurs, idealists, and the stories behind the movements they built. I'm Guy Ross, and on the show today, how Aaron and Rottena Stevens sprouted their first organic grains in a bathtub and grew that business into nature's path, a cereal and snack brand that's now sold in more than 50 countries around the world”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“And when you're ready to launch, you offer code built to save 10% off your first purchase of a website or domain. Loans issued by Celtic Bank and serviced by Stripe. All loans subject to credit approval.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“At airbnb.ca slash host. This podcast is brought to you by Squarespace. I talk to entrepreneurs all the time who are looking for a way to upgrade their digital footprint. Well, whether you're just starting out or you're scaling your business, Squarespace is the easiest way to build a great website that stands out. It's an all-in-one website platform that gives you everything you need to claim your domain, showcase your products, and get paid. Anyone can use Squarespace's cutting-edge design tools to build an online presence that truly reflects what makes your business special. There are templates, intuitive drag and drop editing, and even an AI enhanced website builder. Then, Squarespace's built-in analytics tools help you make smarter business decisions, review website traffic, learn where to focus engagement, and track revenue all in one place. Looking to grow your business, Squarespace even offers fast, easy business financing through Squarespace Capital. Go to Squarespace.com.”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT
“You know, one of my favorite parts of traveling is getting a feel for a neighborhood, the way locals do. A few summers ago, I was in Rome and stayed in an apartment I booked on Airbnb. It was tucked in a quiet neighborhood just outside the Roman forum. Every morning I'd walk to the corner cafe, grab an espresso, and just watch the world go by outside. I even managed to chat with the owner about the neighborhood he lived in for nearly forty years. And he got me thinking about my own neighborhood. There are incredible hiking trails and great restaurants and, of course, the beach. And when I'm traveling this summer, listing my own place on Airbnb could be a really smart way to let someone else experience the area the way I do, like a local. Listing your home on Airbnb while you're traveling is a great way to make some extra money. You could put the money toward your next trip. Your home might be worth more than you think. Find out how much”
2022-05-23 · How I Built This with Guy Raz · Nature’s Path: Arran and Ratana Stephens · IDENTIFIED FROM THE TRANSCRIPT