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Edible-Alpha™ Podcast Episode #19, Part 1 – Building Great Financial Systems For Your Food Business

Edible-Alpha™ Podcast Episode #19, Part 1 – Building Great Financial Systems For Your Food Business

In Edible-Alpha™ episode #19, Part 1, Tera talks with Dan Lemmer of the Wisconsin SBDC’s capital access team about building great financial systems and realistic projections for food, beverage and value-added agriculture businesses. From the entrepreneur’s perspective, the most important thing when using an accounting package is to ensure accurate setup and data entry so that they are able to produce accurate financial statements. Dan cautions entrepreneurs to only track the information they plan to use. One of the biggest decisions entrepreneurs make in setting up their financial systems is figuring out how much to outsource vs. do in-house. While entrepreneurs need to understand their financial statements and financial drivers, they can often have an outside person come in monthly or quarterly to help take on the more complicated accounting and tax issues, including adjusting journal entries. Then, once the business grows, they can hire someone in-house to help them manage that process as well as help with financial analysis and projection.

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Kill Your Darlings: Food and Beverage Business Evolution

Kill Your Darlings: Food and Beverage Business Evolution

Some entrepreneurs are uncomfortable with their business idea or product evolving as their business develops. However, most entrepreneurs start out trying to implement one idea, only to get feedback from consumers that the real business opportunity is in a different product, category or maybe even a different business model. As entrepreneurs develop new products and new business models, they are constantly learning what works and what doesn’t through rigorous testing with their target consumer. In this sense, change doesn’t have to mean compromising core values but rather recognizing that there are multiple paths to achieving the business’ goals of profitability and impact.

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Tera Johnson receives Chancellor’s Wisconsin Idea Award

Tera Johnson receives Chancellor’s Wisconsin Idea Award

MADISON – Tera Johnson, founder of the Food Finance Institute at the University of Wisconsin-Extension’s Division for Business & Entrepreneurship, was honored Sept. 21 with the 2017 Wisconsin Idea Award from UW Colleges and UW-Extension. The annual Chancellor’s Awards (see full list of winners) recognize partners, supporters and employees for their outstanding contributions to the […]

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Edible-Alpha™ Podcast Episode #18 – Food Business Brands Evolve With The Consumer

Edible-Alpha™ Podcast Episode #18 – Food Business Brands Evolve With The Consumer

In Edible-Alpha™ episode #18, Tera talks with Sara Parthasarathy and Partha Sabniviss, the married couple behind Flavor Temptations, an organic Indian recipe pack brand. Each recipe pack includes a traditional Indian recipe with the exact amounts of fresh, organic spices needed to cook the recipe. Originally branded as Ethnic Spicery, they changed their brand name to Flavor Temptations to fully communicate the joyful, family-building experience of making memories through Indian cooking so that their brand resonated more deeply with their target consumer. They also changed their packaging to match their brand promise, better share their values and to stand out on grocery store shelves. Because Flavor Temptations products don’t fit neatly into existing product categories, their products are sometimes placed in different sections of the grocery store, including the Indian/ethnic foods section, the bulk spices section, the health/wellness section or even the produce section. Flavor Temptations is honored to be one of 10 businesses in the 2017 Wisconsin Food and Beverage Association’s FaBCap accelerator to help aid them as they continue to grow.

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Your Place Can Shape Your Business Model Path

Your Place Can Shape Your Business Model Path

We often talk to people about business model “paths” i.e. divergent roads that entrepreneurs can choose to follow to achieve their business goals. Choosing one means saying no to another, at least initially, as each path has different scale requirements and requires different levels and sources of capitalization. Part of that business model path decision […]

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Edible Alpha Podcast Episode #17 – The Capital Conundrum of Rural Economic Development

Edible Alpha Podcast Episode #17 – The Capital Conundrum of Rural Economic Development

In Edible-Alpha™ Podcast Episode #17, Tera talks with Sam Rikkers, former Administrator of the Rural Business Cooperative Service at the USDA. Sam talks about how the USDA’s programs serve not just agricultural producers but also rural businesses and rural people more broadly since farmers need strong small-town economies, institutions and infrastructure. And, many of the […]

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Execution Matters More Than Your Big, Brilliant Idea

Execution Matters More Than Your Big, Brilliant Idea

Welcome to Edible-Alpha™ Insights, our twice-monthly roundup of the best food and beverage finance news, events and resources about business model insights, raising capital, consumer packaged goods (CPG)/national brands, market trends, deals/M&A, and industry events. Our newsletter is the absolute easiest way to stay up to date with the latest industry news, events and resources, […]

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Edible Alpha Podcast Episode #16 – Midwestern BioAg and The Business of Biological Farming

Edible Alpha Podcast Episode #16 – Midwestern BioAg and The Business of Biological Farming

In Edible-Alpha™ Podcast Episode #16, Tera talks with Leilani Zimmer-Durand. Leilani is Vice President of Education Initiatives at Midwestern BioAg, a company that provides farmers with consulting and products (mostly inputs) that help their farm’s yields, resiliency and profitability by using biological farming methods. Biological farming is treating your farm like an ecosystem and preserving […]

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What’s Your Story? Speaking To Your Audiences’ Needs

What’s Your Story? Speaking To Your Audiences’ Needs

Welcome to Edible-Alpha™ Insights, our twice-monthly roundup of the best food and beverage finance news, events and resources about business model insights, raising capital, consumer packaged goods (CPG)/national brands, market trends, deals/M&A, and industry events. Our newsletter is the absolute easiest way to stay up to date with the latest industry news, events and resources, […]

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Food Finance Institute Success Story: Yumbutter

Food Finance Institute Success Story: Yumbutter

Striving to become the world’s most responsible food company through nut butters Matt D’Amour and Adrian Reif didn’t just create a nut butter company; they pursued their dream of running the world’s most responsible food company. Yumbutter™ began in 2010 with two industry inexperienced entrepreneurs, $900, a Black and Decker food processor and the hope […]

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