The path of a food entrepreneur is this: getting out of the kitchen, getting on the shelf and getting on the consumers plate. The downfall of food entrepreneurs is they get stuck in the kitchen, meaning they focus so intently on the "food"... thinking incorrectly that this is the path to success. Why does this happen?
Because you think all it takes is great tasting product to be successful. I wrote Why Do Food Entrepreneurs Fail? They are Stuck in the Kitchen! in an effort to STOP you from spending tens of thousands of dollars prematurely.
I deal with hundreds of food entrepreneurs in my food consulting business and over 80% of the time, these entrepreneurs are chasing a dream and trying to do things their way. It is the "I don't know what I don't know" syndrome. Hubris maybe? Afraid to admit "I" need help?
The article covers:
- Investing in Feel Good Things Will Empty Your Wallet. You feel good when you spend money on things you can touch and see like shiny new production equipment or food development consultants. The typical client that comes to me has already spent upwards of $20,000 AND they do not have a retail ready product they can present to retail buyers or brokers!
- What is the Customer Problem You Solve? Most can't answer this question.
- Do you have a Retail Ready Shelf Ready Food Product? Unfortunately most have no clue about "retail ready" and unfortunately come to me after they make errors in package design or product development
- What does it take to Create a Sales Pitch to the Supermarket Buyer? Do you know terms like SRP, Gross Margin, TPR? Can you address how you will increase category growth?
Yes you should be passionate... you should also have PRACTICAL passion otherwise you will have no business to be passionate about.
An Example of a Retail Buyer Power Point Presentation