All Segments
Hamdi Ulukaya, CEO and founder of Chobani
33 segments available
During a View From The Top event on campus, Chobani founder and CEO Hamdi Ulukaya discussed how businesses can benefit from hiring and training refugees in their community. "Through business," he says. "Refugees can come into society and a community. It’s very simple, as a CEO: hire them, train them; you will benefit greatly and so will they.” In this interview with MBA student Alexandra Eitel, MBA '22, Ulukaya also shared how his ethos of being on the factory floor, everyday, helped his business thrive. "I kept the business so simple.," he says.I did not leave that factory for seven years. I was so into every detail that happened in that factory, there you would find opportunities, problems about to happen, and solutions. #gsbvftt #gsbpodcast
Segments Timeline
The Flavor Debate
Hamdi Ulukaya engages with the audience about the best flavor of Chobani yogurt, revealing the playful spirit of business discussions. He humorously acknowledges the audience's preference for strawberry over his guess of blueberry, setting a light-hearted tone for the event.
"[APPLAUSE] Hamdi welcome to the GSB. We are so excited to have you here. >> Thank you. Thank you so much. This is so hard. [LAUGH] >> Just a little extra challenge. Well, campus has been buzzing with ..."
The Meaning Behind Chobani
Ulukaya shares the significance of the name 'Chobani,' which translates to 'shepherd' in Turkish. He reflects on his childhood memories with shepherds in Turkey and how these experiences shaped his vision for the company, emphasizing the emotional weight of the brand's name.
"Well, and then here's some behind the scenes footage. >> [LAUGH] >> If you'd like to use these as marketing materials, feel free. >> [LAUGH] >> In preparation for our conversation, I learned that Chob..."
From Shepherd to CEO
Ulukaya recounts his journey from a shepherd's life in Turkey to becoming the CEO of Chobani. He discusses his lack of formal business experience and how curiosity and adaptability led him to discover opportunities in the yogurt industry, ultimately founding Chobani.
"And the reason for that is I drove from that road to go to this old equipment dealership in Madison, Wisconsin. So I can buy this separator when it's essential to make Greek yogurt to separate liquid ..."
The Joy of Business
Ulukaya emphasizes the joy and fulfillment that comes from building a business that positively impacts people's lives. He reflects on the importance of creating an environment where employees feel valued and motivated, highlighting the emotional aspects of entrepreneurship.
"There are countless business ideas and aspiring founders out there, who are all trying to create the next big thing. In your opinion, what are some of the key magical ingredients that help create a br..."
Creating an Elevated Environment
Ulukaya discusses the concept of an 'elevated environment' in business, where creativity and collaboration thrive. He shares insights on how to inspire employees and foster a sense of community, stressing the importance of purpose and shared vision in achieving success.
"Like I'd never made plans that would stop me from changing it, going this direction or that direction. I was in a city trying to learn English and teacher said I had a farm upstate New York, I went up..."
Dreaming Big Against the Odds
Ulukaya recounts the challenges faced when starting Chobani, including skepticism about the factory's potential. He encourages aspiring entrepreneurs to dream big and believe in their vision, illustrating how determination and collective effort can lead to extraordinary outcomes.
"Now, what I can tell you on that one, is if you want to make business joyful, but also very successful, it has to be embedded very, very early on day one. And it truly needs to be embedded early on, a..."
Choosing the Right Funding Path
Ulukaya explains his decision to take a small business loan instead of seeking venture capital. He shares the story of how he secured funding to purchase the factory, highlighting the importance of believing in one's vision and the support from local bankers who recognized his potential.
"And you can talk to pure poor factory workers that way and if you truly act upon it, you can make them believe as much as you believe. And then magic starts happening. Now in that moment, if you say p..."
The Power of Small Business Loans
Ulukaya reflects on his decision to take a small business loan instead of seeking venture capital. He recounts the support he received from local bank representatives and how he crafted his first business plan to secure funding for purchasing the factory, highlighting the importance of believing in one's vision.
">> Well, clearly, a lot of magic happened in that old factory that you found, a 95-year-old craft factory, and you decided to take out a small business loan- >> Yeah >> To purchase the factory to star..."
Keeping It Simple
Ulukaya emphasizes the importance of simplicity in business operations. He shares his experience of managing Chobani's growth while remaining deeply involved in the factory, illustrating how focusing on core details and avoiding unnecessary complexities contributed to the company's success.
"So the factory was $700,000 and I needed $300,000 to start it. So I wrote my first [LAUGH] business plan, and basically, that's what they did for me to buy that factory. Later on, I got calls from 200..."
Navigating Competition
Discussing the competitive landscape of the yogurt industry, Ulukaya explains how he anticipated the arrival of larger brands and the strategies he employed to ensure Chobani's resilience. He highlights the challenges startups face against established corporations and the importance of strong supply chains.
"and the business really performed from 2007 October. And by 2009, I kept the business so simple. I mean, I was in QuickBooks until $670 million in sales. >> [LAUGH] >> I'm not kidding. And then since ..."
The Role of Supply Chain in Success
Ulukaya stresses the critical role of supply chain management in the food industry. He argues that understanding manufacturing fundamentals is essential for disrupting established markets and shares insights on how Chobani's focus on these details has been key to its growth.
">> But you took a bet on yourself and on your ability to bring Greek yogurt to the United States and it obviously definitely paid off. But it's easy to forget that in 2010, there were no Greek yogurt ..."
The Impact of Large Corporations
Ulukaya discusses the influence of large food corporations on market dynamics and innovation. He explains how these companies often stifle competition and the challenges faced by startups in gaining market access, emphasizing the need for unique value propositions.
"of food that produced and consumed in this country. Because for startups, it's extremely difficult to create those capabilities. So you can be a true partner with Walmart or Kroger or Safeway. So what..."
Building a Strong Brand
Reflecting on Chobani's journey, Ulukaya shares how he positioned the brand to withstand competition from larger players. He highlights the importance of brand strength and unique offerings in maintaining market presence and achieving long-term success.
"So what I said when I saw them I said they're going to come, and before they come, I have to make two decision. Either I want to stay small, Or I have to pass certain level that they cannot hurt me an..."
Sharing Success with Employees
Ulukaya explains his decision to grant shares to all Chobani employees, including factory workers. He discusses the importance of recognizing the contributions of frontline workers and how sharing success can foster a sense of community and responsibility within the business.
">> Well, clearly you were able to disrupt the the industry and rise above the competition, all the while still focusing on the human spirit and not just focusing on the spreadsheets, as you've said be..."
The Responsibility of Business
Ulukaya reflects on the social responsibilities of businesses, particularly in supporting workers during tough times. He advocates for a model where businesses share their successes with employees, addressing income inequality and promoting a more equitable society.
"What I saw in that little town is that factory was there for, like you said, 80, 95 years. When the things were good, the steam was coming off from the chimney, and the products were coming and the tr..."
Cultivating Company Culture
Discussing the importance of company culture, Ulukaya shares insights on how it is built in the early years of a business. He emphasizes the need for genuine commitment to culture and how shared experiences among employees can shape a strong organizational identity.
"And I hope that this becomes a very normal practice, not that you brag about it. It's the same way all the startups that happen here in Silicon Valley, it's a very common things. But it's not common w..."
Creating a Family at Work
Ulukaya recounts a pivotal moment in Chobani's early days when he addressed his employees as family. He emphasizes the importance of open communication and accountability, encouraging his team to hold him responsible for his actions as a leader.
"I was in a meeting in the second or third year and I gather all our employees. And these are all upstate New York, Harley drivers, big guys, some of them. And I brought them all in the cafeteria and I..."
The Impact of Hiring Refugees
Ulukaya discusses Chobani's commitment to hiring refugees, sharing statistics and personal experiences that highlight the positive impact of integrating refugees into the workforce. He argues that providing job opportunities for refugees not only benefits them but also enriches the company culture.
"And 30% of Chobani's manufacturing force are refugees or immigrants. Unfortunately, not everyone is as welcoming of these communities as you are. So, could you maybe share a statistic or an argument t..."
The Business Case for Refugee Employment
In this segment, Ulukaya presents compelling statistics that demonstrate the economic advantages of hiring refugees. He explains how refugees contribute to productivity and retention, making a strong case for businesses to embrace refugee employment as a socially responsible and beneficial practice.
"And it became this thing and it brought so much energy to the company, people loved it. Brotherhood, sisterhood is built and people have never had seen someone from Nepal or someone from Ethiopia or s..."
Creating a Coalition for Change
Ulukaya shares his efforts to build a coalition of businesses committed to hiring refugees. He highlights the collective power of this initiative and the positive effects it has on both the companies involved and the communities they serve, emphasizing the need for businesses to take an active role in social issues.
"And I thought the other saddest thing is how this topic is being part of political conversations and how it's profiled so unfairly, so bad. And the only way you can cut this through is if you can tie ..."
Empowering Refugees Through Business
Ulukaya passionately discusses how businesses can empower refugees by providing them with job opportunities and training. He believes that integrating refugees into the workforce is essential for their transition into society and for the overall benefit of the community.
"any other topics that society is facing. And make it part of the HR department, part of their manufacturing and people department, or service department. And it's not check the box, it's organically i..."
The Role of Innovation in Humanity
In this closing segment, Ulukaya reflects on the importance of innovation and business in addressing societal challenges. He expresses gratitude for the opportunity to share his insights and emphasizes the inspiring role that businesses can play in improving humanity.
">> I love that your answer has statistics to back you up. >> Absolutely. >> But of course as always, you're speaking from the heart and focusing on the human spirit there. And our theme for this slate..."
Good Food for All
Hamdi Ulukaya discusses the challenge of making nutritious food accessible to everyone. He emphasizes the need for affordable, wholesome options, sharing how Chobani managed to produce yogurt at just $1 while maintaining high quality. This segment highlights his commitment to providing good food for all families across the country.
">> What a beautiful question, I find food in the US is one of the fundamentals a problem that we need to solve. And, the problem is you can make food that is very good ingredients, but it's very expen..."
Chobani Incubator: Sharing Knowledge
Ulukaya explains the creation of the Chobani Incubator, aimed at supporting startups in the food industry. He shares his desire to mentor like-minded entrepreneurs by providing resources and knowledge without expecting anything in return. This initiative fosters community and collaboration among food makers.
"I started the incubator, Chobani Incubator. And I said no strings attached I don't want anything back, I don't want any percentage or anything. All I want to do is, if I was starting my journey in 200..."
Building a Community in Food Innovation
In this segment, Ulukaya stresses the importance of community in the food industry. He believes that collaboration among food makers is essential to tackle challenges and create a significant impact. By working together, smaller companies can compete with larger corporations and drive the movement for good food.
"And opening up so the second reason I had is, we cannot be alone on this we need a community. So that's the reason, either another yogurt maker, another food maker, whatever it is. This new good food ..."
Advice for International Entrepreneurs
Ulukaya shares valuable advice for international entrepreneurs looking to start businesses in the U.S. He emphasizes the importance of understanding American culture and letting go of preconceived notions. This insight is particularly relevant for refugees and immigrants aiming to integrate and succeed in their new environment.
">> Hi Hamdi this is Mitad from Istanbul, I'm also a fan [CROSSTALK] fan. So, thank you so much for coming here and sharing your insights about entrepreneurship and impact. And I would like to your com..."
Embracing Cultural Differences
In this segment, Ulukaya reflects on the beauty of cultural exchange and the importance of staying true to one's roots while adapting to a new environment. He shares personal anecdotes about his experiences in rural America, highlighting the value of understanding and celebrating diverse cultures.
">> What a great question with that, Really get to know America. And, what I can suggest for people like us coming from outside. For the Americans, there's politics, there is celebrity, there is footba..."
The Power of Authenticity
Ulukaya discusses the significance of authenticity in entrepreneurship. He encourages entrepreneurs to embrace their unique backgrounds and experiences, asserting that these qualities can enhance their success. This segment underscores the idea that diversity is a strength in the business world.
"So, when I went upstate New York walked in that farm, in New York City I couldn't there's more Turks in New York City than natives. >> [LAUGH] >> So it's Turkey in New York City if you want to stay in..."
Navigating Business Relationships
In this segment, Ulukaya talks about the importance of maintaining healthy relationships within a business. He emphasizes the need for open communication, even during tough conversations, and the significance of mutual respect among colleagues. This insight is crucial for fostering a positive workplace culture.
"And that is your own experience with people, without the judgement, to understand. And people look at Chobani they think we are very liberal activist brand. You have to understand, our two plans in up..."
Setting Boundaries in Business
Ulukaya shares his perspective on setting boundaries within a business environment. He discusses the importance of addressing disrespect and maintaining high standards, particularly regarding product quality. This segment highlights the balance between being a compassionate leader and ensuring business integrity.
"So how do you make sure that what you see, and what you bring that can beautifully homogenize with each other? I never forget being a shepherd son from eastern part of Turkey, I never forget that boy...."
The Reality of Business Operations
In this candid segment, Ulukaya reflects on the realities of running a business. He discusses the necessity of being self-sufficient and the challenges that come with it, including employee turnover. This insight provides a realistic view of the entrepreneurial journey and the importance of resilience.
">> Thank you, look, thank you I was smiling under my mask. >> [LAUGH] >> And so so gracious, thank you so much. Yes, look as long as they know they're real, it's okay to be angry, it's okay to draw th..."
Balancing Business and Social Impact
Ulukaya emphasizes the need to balance business objectives with social responsibility. He asserts that while Chobani aims to make a positive impact, it must also operate as a competitive business. This segment highlights the dual role of entrepreneurs in addressing societal issues while ensuring profitability.
">> [LAUGH] >> And I think, introduction of poison in a very small way in the business field, and sometimes it's just a tiny thing. Those things later on grows and becomes a really big thing. And I hav..."
The Thrill of Entrepreneurship
In this inspiring segment, Ulukaya shares his passion for entrepreneurship and the excitement it brings. He discusses the creativity and innovation involved in building a business, encouraging aspiring entrepreneurs to embrace the challenges and joys of the journey. This segment captures the essence of being a founder.
"this is a business, and it has to self sufficient itself. And every year 10% of the people will leave let go or fired, whatever that is just function of business. And I think we need to know that, if ..."