Sometimes great ideas turn into companies simply because it’s the right idea at the right time in history. I’m joined by Dagan Xavier, the visionary founder of Label Insight, a pioneer in the food data industry, that was eventually acquired by Nielsen IQ. In this episode, Dagan shares his personal story of how he transformed a simple idea to help his father understand nutrition labels into a groundbreaking company that reshaped how data in the food industry is handled today.Join us as we explore the journey of Label Insight, the intricacies of venture capital funding, and the influence of Midwest values in Dagan's unwavering commitment to building both his company and the people within it.Key Takeaways:Embrace the Hard Things: Entrepreneurship isn't all sunshine and rainbows. It's in tackling the toughest challenges where real growth happens. Dagan emphasizes the profound fulfillment that comes from embracing challenges and the deep satisfaction of overcoming them. This mindset fosters long-term success and resilience in any entrepreneur.Cultivate an Adaptable Mindset: In the world of business, the only constant is change. From acquisition to scaling, being flexible and adjusting your expectations is vital.Build and Believe: Success lies in self-belief and creating a robust support system. Overcoming the fear of failure is easier when you have a safety net and a team that believes in your vision.Timestamps: 00:00 Questioning entrepreneur realisms04:58 Viewing problems from all perspectives10:29 Building a business and not just a product13:49 FDA finding trans fat in "trans fat free" products15:48 A Kiwi in Hong Kong19:26 Empowering retailers and driving brands24:34 Transition from FDA to venture funding29:27 Working smarter or working harder33:13 Decimal and Midwest values39:54 Believing in yourself

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