Shauna Smith: The Operator Behind Savory’s Billion-Dollar Vision

In this episode of Case Studies, Casey sits down with Shauna Smith, co-founder and powerhouse operator behind Savory Fund, for a deeply personal and insightful conversation on resilience, leadership, and building something meaningful from the ground up.

Shauna shares her journey from a challenging childhood in the South to becoming a central force in scaling over 50 Kneaders Bakery locations and helping build one of the most respected restaurant investment platforms in the country. Along the way, she opens up about stepping into responsibility at a young age, navigating family adversity, and how those early experiences shaped her grit and perspective.

Together, she and Casey explore what it really takes to operate at a high level, from executing vision and building teams to making hard decisions and learning from failure. Shauna also reflects on her role in growing brands like Swig and Mo’ Bettahs, her “no A-hole policy,” and why culture and character matter more than anything in business.

This episode is a masterclass for leaders and entrepreneurs on ownership, humility, and the power of doing hard things well.

00:00 | Introduction & Reconnecting

02:02 | Family Life & Partnership with Andrew

08:29 | Visionary vs Operator Roles

09:54 | Growing Up in Alabama

14:12 | Family Adversity & Moving to Utah

20:19 | Forgiveness & Personal Growth

24:32 | College Years & Meeting Andrew

30:20 | Unexpected Pregnancy Story

33:24 | Early Entrepreneurial Journey

35:13 | The Call to Build Kneaders

39:01 | Learning to Run a Restaurant

41:19 | Thriving During the 2008 Crisis

47:16 | Scaling to 50+ Locations

48:49 | Key Lessons from Franchising

52:40 | Investing in Swig & Mo’ Bettahs

56:56 | Launching Savory Fund

59:06 | Fund Growth & Investment Strategy

01:00:30 | Biggest Mistakes & Lessons Learned

01:01:57 | The “No A-hole Policy”

01:02:54 | Best Deal Ever: Swig

01:03:47 | Transitioning Roles & Future Vision

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