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Who is it For? Founders of CPG start-ups. What is It? Zero B.S. perspective on running your start-up well, understanding the biases of industry stakeholders and getting the industry to work for you, not the other way around. When? Every month. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com If you want to take my founder's Quiz to see if you are ready for exponential growth, please visit : www.premiumgrowthsolutions.com/founder_resources and ...
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You may be an amateur with an idea. A great idea. And you may be smart, organized and well-funded. But you still should have at least one other person on your team with 10 years plus functional experience in the early stage world. Most likely, this should be an ops person. This is the skill most founders simply do not have. And it often shows. Your…
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Let’s get real on seed financing. Judging by the sheer volume of founders complaining about all the hidden costs in third-party distributed retail, it’s clear to me that way too many middle-class people tried to jump on the bandwagon designed from top to bottom for the rich. Poor financial planning remains the number one reason that consumer startu…
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During this funding lull, we should all step back and absorb the key mistakes that so many amateur founders made in the 2010s and the pandemic. In this episode, I start with the big one: You started looking way too late. Want the rest. Then, listen in! Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.co…
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The most important thing founders can learn from private equity investors is quant-curiosity. It comes in at least two forms. The first is deep curiosity around the financial inner workings of your business. The second? Have a listen to find out… Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Plea…
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With two dueling regenerative ag certifications in motion, I feel like it's 1999 all over again. You know, the time when "organic" had multiple certifications and not much clarity for consumers - until the USDA launched a regulated symbol in 2002. In this episode, I explore the long-term potential for regenerative agriculture to essentially become …
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LinkedIn has accelerated the distribution of unsolicited and solicited advice on anything. For founders of consumer brands, though, knowing how to seek out and filter advice is critical, especially quasi-advice attached to sloppy critique of your business. In this episode, I teach founders the three basic filtering rules they need to absorb well-in…
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Disclaimer: I am an advisor to Once Upon a Farm, which produces smoothies for tiny kids but do not hold equity in the company The battle for the freshly blended home smoothie is on. You would think this is something for bagged produce, but it's the latest packaged food competition. Daily Harvest appeared online in 2015 to challenge Dole fruit’s nea…
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As wealth has concentrated in the 1%, there is a lot more private money looking for ways to diversify and generate income. Not in savings accounts or CDs. In your startup. Angel and family office money is more plentiful than ever, but institutional venture capital (backed by Wall Street) has basically pulled up and out of food and other highly unpr…
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Part Two of my conversation with Samyr Lainé, an expert in the intersection of A-list celebrities and CPG startups and how to make this work for everyone. He is especially keen on A-list celebrity founder-operators and equity-for-endorsement deals. In this episode, Samyr and I talk about 1) the different ways that celebrities get involved and the p…
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I rarely have investors on the show, but Samyr is doing things differently. He is an expert in the intersection of A-list celebrities and CPG startups and how to make this work for everyone. He is especially keen on A-list celebrity founder-operators and equity-for-endorsement deals. In this episode, learn about Samyr's background, his fund's thesi…
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The majority of CPG founders exhibit this archetypal orientation. They got into this because they're innovators. They're category geeks. Some, even snobs. But the real weakness these folks have to accept and address somehow is that they are NOT business people at heart. And yet it is the professional businessperson (and his/her team) who scales inn…
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Founders are not snowflakes after all. They tend to come in a finite array of archetypes. In this series, I begin by discussing the Finance Founder. His/Her orientation to money and ROI over-determines every decision they make. For good and for bad. If you recognize yourself in this episode, I hope it helps trigger some self-awareness and growth. Y…
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It can be very tempting to look at your balance sheet or cash flow and then pick only tactics you can afford based on your present snapshot. The problem with this is not your financial responsibility. The problem is that you can’t compete effectively and grow rapidly until you prioritize competitive strategy first and then determine the relevant pl…
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Scaling a consumer-packaged goods brand via the DTC channel is more or less dead to all but the super-wealthy founder. It's important to note that the much larger, adjacent online grocery space is also declining. I explain why the dream is over for scaling into the eight figures online in CPG. And how you should think about both 3P online and the D…
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The perils of the first $500,000 in recurring sales are many. Most are related to cash flow and getting paid by distributors or retailers. Without the proper seed monies, many companies evaporate despite the power of their innovation. In this episode, I'm updating the episode that launched this tough love podcast. There is less space on shelves tha…
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Non-alcoholic beer has been on a tear since 2017. That's when Heineken and an unknown brand, Athletic Brewing, appeared on shelves to shake things up. The latest Skate Ramp brand has crossed $100M rapidly, but will it journey at high speed toward $1B and truly impact the beer industry? I share an excerpt of my thoughts recently written in detail fo…
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The final wave of failing Covid-19 brands is the eight-figure businesses that used initial raises to make it through Covid supply hell and COGS inflation but are still unprofitable and unable to raise further rounds. As these brands fail, a shelf grab is underway. Let me explain. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC w…
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A common battle occurs between finance and strategy, especially if your finance person is NOT a founder. It’s the idea that we should keep and protect all revenue sources, because the company is not making money. In reality, strategic focus is what you need, not proliferation of UPCs. Your Host: Dr. James F. Richardson of Premium Growth Solutions, …
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Committing to a plan is hard enough for many founders. But, if you don’t do an annual diagnosis well, you will lose much of the plan’s benefit. The point of planning and diagnosing is to understand WHY you did or did not hit your revenue target (or other topline goals). This requires systematic disbelief in topline success. I call it pressure-testi…
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Pricing power is one of the major things a brand gives you as an owner. But not right away. The power of a brand lies in the ability to raise prices at scale as costs increase without volume suffering much at all. Conversely, you can not slash your price to accelerate. In this episode, I explain the math behind price inelasticity and how to obtain …
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Episode 108 - DTC is for Scaling in Really Tiny, Frequently Ordering Niches You Would Never Find in Retail
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This wonky episode may require a repeat listen. You were warned. I want to walk listeners through the variables and math that make it crystal clear what kinds of consumer propositions not only do well through DTC but should remain there and the much larger set of innovations that need to see this channel in a very restricted manner. Your Host: Dr. …
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Lots of well-run, patient brands need an angel infusion right now. But the absence of VC right now is still a blessing. Instead, founders will need to network for angel cash, be much more focused and disciplined and yes fewer people will get to play. Fewer, better businesses actually improve the whole ecosystem in my opinion. In this episode, I lay…
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Unfortunately, the folks who talk loudest about brand-building are either a) branding agencies, b) venture capitalists or c) overly enthusiastic founders. Curb your enthusiasm. You can design a brand identity, a symbolic system. But, ‘brand’ is an outcome. It is an outcome based on influencing real human behavior, entering social networks with memo…
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In the world of consumer brands, it’s common for investors to look down on paid advertising. Why? Because they often don’t see the same kind of trial surge that a temporary price reduction or change in attribute-outcome signaling can deliver. So, they generally see no real return on the expense. However, ROAS has to be calculated on the basis of a …
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It’s critical NOT to remain with a bubble of startup founders in the early Phases. If you do, you will not access the greater wisdom you need. In this episode, I explain the social science behind this networking advice. You don’t need to have lunch with Mark Cuban or Daniel Lubtezky to succeed. Your Host: Dr. James F. Richardson of Premium Growth S…
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In this episode, I address some of the key myths about pivoting that I have heard. Most correspond to excess risk aversion for an ideal founder. You took the risk to start this business. Let’s not let risk in the back door and prevent you from pivoting to a better path to scale. In many cases, you do not need to see a sales decline at all. Your Hos…
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99% of business media stories on startups are essentially PR for the startup itself. This makes these stories a one-sided source of information on what it’s like to operate and grow a startup. While there are more and more discussions of mistakes, basically no one at Inc or Entrepreneur or anywhere else really will ever greenlight a debate on this …
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99% of business media stories on startups are essentially PR for the startup itself. This makes these stories a one-sided source of information on what it’s like to operate and grow a startup. While there are more and more discussions of mistakes, basically no one at Inc or Entrepreneur or anywhere else really will ever greenlight a debate on this …
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Episode 100! Boom! I want to thank my listeners for tuning in twice a month to the Startup Confidential podcast Do you have what it takes to be a killer Founder? In this episode, I talk about the traits top founders have to have to make it in the industry. Are you a smooth-talking public firm CEO kinda person? You won’t make it…and here’s why... Yo…
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Listen in on a re-issue of a popular podcast: Retail Buyers. Either right now or eventually, you will need to convince buyers you are a key new addition to their sets. In this episode, I share some pros and cons of developing relationships with these important stakeholders. I also discuss why the Skate Ramp is just not on their radar, even though o…
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The real diversity issue in American marketing is diversity of thought. Emmanuel and I continue the discussion in which you will learn why Dr. Squatch nailed it and MTV literally researched its way into oblivion. Dr. Emmanuel Probst is Global Lead, Brand Thought-Leadership at Ipsos, adjunct professor at the University of California at Los Angeles a…
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This is the first of two episodes in which I interview Emmanuel Probst about the continued problems in American marketing. We kick things off by discussing the illusion of control, the need to communicate transformative outcomes or risk being tuned out and other gems. Dr. Emmanuel Probst is Global Lead, Brand Thought-Leadership at Ipsos, adjunct pr…
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How can a word like “occasionally” be so detrimental to the plant-based meat industry? Scaling too fast and not fully understanding the underlying behavior driving its business resulted in Beyond Meat's premature decline. Haste followed by a series of growth Hail Mary's won’t keep your brand growing once it reaches scale. Tune in to see why not. Yo…
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As a CPG founder, you know you need one. Yet, you can’t seem to face the uncomfortable fact that creating a strategic plan will cost just a little time but a lot of emotional courage. Listen to Podcast #95, 7 reasons why you need a strategic plan, and learn how a strategic plan helps you to clarify the rules of decision-making, makes it easier to s…
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Are you too busy to read your third-party distributor’s contract? Too busy or too overwhelmed with pages and pages of the legal doc? Listen in to Part 2 of Getting Real About Distribution, Dr. James Richardson’s guest interview with Greg Esslinger, Distribution Expert of Natural Food Ally. Greg shares common mistakes new founders make when working …
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Founders new to the food industry often make costly mistakes when they jump in with third-party distributors too soon. Listen to Dr. James Richardson's interview with Greg Esslinger of Natural Food Ally as they discuss the 3 top wrong actions founders take when working with distributors. Part 1 of 2 Parts. (Part 2 will be published on May 15.) Greg…
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Is there more than one way to execute a Root Cause Analysis on your consumer brand? Absolutely...but that shouldn't stop you from performing a complete analysis. In Episode 92, Root Cause Analysis for Founders, I break down the steps on why you need to do one and some blind areas that you and your team may not be seeing. Valuable questions are offe…
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It’s time to revisit my original episode! It’s on the dark and painful Phase 1 of the Skate Ramp. And it’s your antidote to the trade media clickbait in which white men raise more money than they deserve and just skip to Phase 3. Not helpful. Learn how to make it through the Death Funnel alive. My most popular and downloaded episode ever. Your Host…
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The awkward removal of Miyoko's founder Miyoko Schinner is another reminder of how institutional investment can go very badly if founders aren't fully educated and aware of what they are getting into. And they are a reminder to me about how founder ego can cause folks to believe they need more money than they do. Investors in a rush to monetize a f…
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Trend content is not my focus. However, this Boba tea thing just tickles my brain too much. The explosion in this foodservice category occurred during the pandemic and continues to this day. It's a perfect case to explore the difference between a "fad" and a "trend." I also wrestle with the issues behind the formation of new beverage categories, us…
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One reason young folks don't last in the startup world is that too many haven't suffered a massively alienating experience and pushed through. This is especially true for the average founder who is white and upper-middle-class. Teaching 'entrepreneurship' to those without resilience is a bizarre feature of campus life today. Listen to me explain wh…
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This is something founders don't discuss openly enough. There are toxic upper limits to survival for early-stage consumer brands. You should know them if you need to pull the fire alarm rope and get yourself to financial and emotional safety. Remember, entrepreneurship is still a choice, not a prison sentence. Don't let the psychology of sunk costs…
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It can be very tempting to look at your balance sheet or cash flow and then pick only tactics you can afford based on your present snapshot. The problem with this is not your financial responsibility. The problem is that you can't compete effectively and grow rapidly until you prioritize competitive strategy first and then determine the relevant pl…
…
continue reading
Population reach vs. prevalence of heavy-users. This is an important statistical distinction when studying the impact of any social phenomenon. Organic food is no different. In this episode, listen to what most journalists mess up when they explain why organic food took off twenty-five years ago. For the full deets, check out my Substack essay on t…
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The challenge you face here is cultural. American marketers, as a tribe, just don't care about learning from consumers. They insist on influencing and telling to the exclusion of basic empathy. They are arrogant beyond belief. This is fine when you're selling a commodity for which the advertisement is the only possible variable left to create an ad…
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Planning seems like a luxury to overwhelmed founders. I get it. But it's not. It's a lifeline in the chaotic waters of entrepreneurship. Remaining objective in the face of the emotional rogue waves of entrepreneurship is perhaps the top benefit of even a short, objective plan for growth. In addition, a revenue target is a brutally objective mirror …
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Liquid Death is the latest CPG case everyone is talking about. Not simply because of the massive fundraising but also the actual topline growth. The question is, can you lean on branding as the primary launch attribute? Is this something you can only pull off in categories like water? And will LD stay at scale, or was it simply a well-executed adve…
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I've seen it client side. I've blogged about it recently. The emerging research on paternalistic work cultures is this: great for stable, conservative slow-growth small businesses where employees prefer stability to the stress of high performance. And the downside is that a paternalistic leadership style generates mediocrity even from highly talent…
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Many in the natural/organic end of CPG were heartbroken when Coca-Cola wound down the Honest Tea portion of the Honest business. In this episode, I share my own take on why Coca-Cola most likely made this decision and why Honest sold way too early in the revenue curve to make this acquisition work long-term. Your Host: Dr. James F. Richardson of Pr…
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Wow. Finding a decent head of marketing is easy. But, their ability to move the needle is probably dumb luck, despite their organizational skills. Most marketing fails to move awareness and household penetration because the head of marketing doesn’t have a Guggenheim ruthless eye for effective creative that moves hearts and wallets. The problem is …
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