Ep. 175 – Food Startups Confidential with James Richardson, Founder of Premium Growth Solutions

James Richardson has a PhD in anthropology and has worked for the Hartman Group for a little less than 15 years. During that time, he’s done work for a whole variety of different companies. From small companies to legacy brands.

With a tone similar to Anthony Bourdain’s view of the restaurant interview, James brings a realistic yet refreshing viewpoint on the food industry and throughout the interview, brings a ton of tangible tips on how to grow, especially if you’re in the beginning stage of starting up. Questions like if your time is valued in trade shows, or what year food companies are typically profitable, or how you can navigate through different selling channels are all topics that we talk about.

So get ready for a jam-packed interview on the inner workings of what really goes into growing a food business

By the way, James has some awesome stuff in the pipeline. Not only does he have a podcast called Startup Confidential, but he also will be launching the book, Ramping Your Brand, at the end of the year. Enjoy the show!

About James

I am a strategy consultant for emerging food and beverage brands, with a professional background in consulting, market research and social science. I have studied natural/organic consumers and brands for my entire career, beginning with proprietary work for Whole Foods Market in 2003.

I have advised well over 75 food and beverage brands on specific aspects of growth strategy (i.e. marketing, innovation, channel placement and pricing), from large legacy brands such as Triscuit to small, early stage food companies. Based on years of Nielsen and SPINS analysis of real world performance, I have developed proprietary IP to guide product design/innovation and go-to-market strategy for early stage natural/organic brands. My work in the natural/organic marketplace is based on understanding category nuances that affect success for emerging brands. All my work involves a holistic, competitive analysis of your brand and its prospects for growth based on understanding category nuances in modern food culture.

Past Clients: My understanding of the food and beverage marketplace and growth strategy is built on 15 years of work for leading manufacturers and retailers across the sector: Pepsi-Cola, Coke VEB, McCormick, Campbell's, ConAgra Brands, General Mills, Nestle USA and Nestle SA, Kraft Foods, The T. Marzetti Company, Rich Products Co., Hershey's, Whole Foods, Target, Wal-Mart, and Kroger.

I have also worked with over a dozen early-stage food brands in various capacities including Corazona's, Bobby Sue's Nuts, Wellgen, Snack It Forward, LLC, Nibmor, Mother Kombucha, Zaca, and others

Finally, I have also performed confidential due diligence evaluations for VC firms such as Prairie Capital and Colfax Creek Capital.

For more info and client testimonials, please see my website: www.premiumgrowthsolutions.com

Sponsor

This episode is sponsored by Salt of the Earth. During IFT, I went to their booth. They were serving vegetarian meatballs and mac and cheese using Mediterranean umami. I would say, it was probably the best meatball made of pea protein I’ve tasted. Mediterranean Umami brings a rich, savory component while being clean label and reduces sodium and made with simple ingredients such as tomatoes, sea salt, seaweed, and mushrooms.

Ask my friend David for a bottle of Mediterranean Umami any time by emailing  info@salt.co.il

Show Notes

Why did you decide to make a podcast?: Podcasting is a powerful form of content marketing What do you do?: I do strategic planning for early-stage premium CPG planning What stage of the process do people contact you?: First 3 to 5 year and the journey to half a million in gross sales If you want to grow into a flat-lined $10-20 million business, you need to shove all of your money into growth How do you prepare to “weather the storm”? – Line your angels, get a house lone, make sure everyone close to you is ok with this E-locks Cara Golden – The Passion has to be obsessive. The Scaling is not particularly glamorous Have a competitive streak. You want to win Good Crisps What is the fastest way to grow a food business?: Get on e-commerce and get to 20-30 thousand dollars in revenue. Foodservice onboard people faster. Ultramarathoners: James Richardson Linkedin post You’re running a marketing experiment: set realistic revenue practices Anthropology: It’s a bookworm’s paradise and your friends don’t get it I went to India, almost died 3 times but lived there for 3 years When I got home, I took a job at market research and did nationwide research in whole foods Hartman Group Power Bar Clif Bar Skinny Pop Popcorn My unique set of knowledge is a ton of case studies that help you get to scale The market changes faster than you realize and I learn fast as a consultant UPC mix – Universal Product Attributes Mix trend slowness is about 7-10 years Any advice for anyone who wants to be in the industry?: If you want to master CPG, you should join a fast growing food company (2-5% 15-20million dollars) There are 100 companies to choose from Examples: Spindrift A big company, you won’t learn much Website: premiumgrowthsolutions.com Startup Confidential podcast

Learn more about your ad choices. Visit megaphone.fm/adchoices