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Insights Newsletter

Creativity Is Essential To Food Entrepreneurship

Creativity Is Essential To Food Entrepreneurship

Figuring out the best way to finance food businesses by optimizing their capital structure to reach minimum efficient scale is an undervalued creative exercise. But the myriad of challenges that confront entrepreneurs, from finding the right suppliers, co-packers, distributors, brokers or even the right target customer also demand creativity. We encourage established and aspiring food entrepreneurs to never take their creative hats off when solving a problem, no matter what that problem is.

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The Customer Is Always Right (Or, At Least They Are The Ones Who Pay You)

The Customer Is Always Right (Or, At Least They Are The Ones Who Pay You)

Food businesses should align their products and branding with their target consumers and should use market research to understand what the marketplace is asking for. Acquiring and keeping customers is what drives successful businesses and customers’ preferences must be met in order to have a financially viable business. Customers may not always seem to make the “right” choices from every food business owner’s perspective. However, at the end of the day, customers are how you get paid.

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Focus And Discipline Are Key To Food Business Success

Focus And Discipline Are Key To Food Business Success

Focus is hard to come by nowadays. In physical grocery stores, food consumers have so many choices in nearly every category, and food and beverage entrepreneurs trying to reach consumers have to consider that the general food consumer is overwhelmed by their choices and ultimately has very little time to interact with unfamiliar food and beverage brands. Focus is what gives food business owners clarity about their strategy and about the tactics needed to carry it out. When we work with food and beverage clients, we use tools like the business model canvas to provide focus and clarity to their business model and the strategic implications of choosing a particular business model path or going after a particular target customer.

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Taking Investment in Your Food Business Changes Your Business (And You)

Taking Investment in Your Food Business Changes Your Business (And You)

Food entrepreneurs themselves often feel changed when taking outside investor capital. They feel the weight of the responsibility of paying back those investors with a return. They often work even harder than they were before because others are sharing the risk with them and are emotionally invested in their business as well. Understanding and accepting the responsibility that comes with taking investor money, when taken from the right people at the right time, can allow food entrepreneurs to grow their impact in ways they could not do on their own.

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Both The Results and The Process Matter For Your Food Business

Both The Results and The Process Matter For Your Food Business

Food businesses need both process and results-oriented people and the healthy tension their (sometimes conflicting) orientations create. Both kinds of people seek to understand the financial reality about their business performance. Good financial staff ground themselves in the truth of writing their assumptions down, seeing if those assumptions were true and learning as a result. Good food entrepreneurs do the same but also ground themselves in the truth of their customers, where they are headed, and thus, where the good business opportunities lie.

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Building The Right Team Financial Team For Your Food Business

Building The Right Team Financial Team For Your Food Business

Behind every great food entrepreneur is a great financial team, whether that team is employed by the business directly or through an outsourcing method. Building that team helps the entrepreneur, management and board make informed decisions and allows the business’ key stakeholders to focus on growing their customer base and strengthening their brand. Ultimately, that is what leads to financial success.

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

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

Everyone has a story to tell, and food businesses are no different. Food businesses need to cater their stories to the audience they are speaking to. With consumers, this means developing in-depth personas about your target customer and using the language that speaks directly to their unmet need. When speaking to funders, entrepreneurs need to tell the story of their business model, their revenue model, and their brand positioning i.e. the story they reinforce with consumers.

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