As we head into another Expo West, I wanted to share a story about being truthful and hopefully some perspective as you speak to founders and sample products. Several years ago I was at Expo East and one of my long-time friends introduced me to a new founder that was starting a company. It was a beverage company and they had branding and samples but were not yet launched.
Unfortunately, the name was clunky and the samples were even worse. Now, human empathy would normally guide us not to hurt their feelings and make up a "white lie" that the products were good. However, I did exactly the opposite -- I was brutally honest both about the name and the product. Why? Because that is what I would want people to do for me. Few people are honest with founders. Whether their family, friends or acquaintances, none of them want to hurt feelings and so few are being honest about ideas and products.
To succeed in food and beverage CPG, you need a lot of things to go right but at a minimum you need:
-- Meaningful Differentiation (the reason people try the product)
-- Amazing taste (why they come back)
-- Strong economics (how you pay for growth)
By being truly honest, you can help the founder get to key decisions sooner. Maybe they need to iterate the product, change the name, redesign the packaging, or shut the business and try something else. By telling a "white lie" to avoid offense, you kick the can down the road and potentially waste a lot of that founder's time -- the one thing we can never get back.
So back to the story at hand. I was brutally honest. I said I thought the idea was good, but the name was terrible and the product was not good. It was hard and I could see the founder welling up to tears in front of me. It was brutal, but we talked and I said you need to go back to the drawing board and find a better name and improve the taste.
Well a year ago at last year's Expo West, I saw that Founder and he had taken my advice to heart, he had a great new brand name and I tried the new beverage which tasted great. I just saw a post from this founder that they are now the fastest growing functional beverage brand in SPINS and I could not be more proud of them.
The moral of the story here is to be honest as you walk around Expo West sampling product. Help the founders out. Sometimes it could result in better taste or differentiation and other times it might result in a shutdown, but either way you are saving them the most valuable asset they have --- time!!
#expowest2024 #expowest #naturalproducts
Manna Tree, Steve Young, Eric Schnell
Director of Partnerships @ Orita | Partnerships Leader, Advisor, Mentor
2wCan't wait!!!