The Food Startups Podcast

Imagine you are in the kitchen preparing dinner and you don't have all of the ingredients the recipe calls for. It is too late to run to the grocery store. What if you could instantly Facetime with a chef? TalkToChef is connecting foodies with chefs all over the world for instant support. A fascinating startup that has INCREDIBLE POTENTIAL. I'm already an unpaid promoter for it. Daniil tells us his story:

FSP Listeners use PromoCode: FoodStartupsChef  for a free $5 donation credit!!!

  • TalkToChef is the evolution of a former business model. Learn how they made the adaptation.
  • Taking advantage of the brilliant minds and resources of Silicon Valley
  • Customers can only remember 1 thing about your company
  • The importance of "growth hacking"
  • How they are managing funding, preparing for future growth (20,000 chefs and 100,000 calls per month)

Mentioned in this episode:

TalkToChef

LeanStartup

StartupNext

StartupWKD

Growth Hacking - Ryan Holiday

AirBnB

AN INSIDER'S HISTORY OF HOW A PODCASTING STARTUP PIVOTED TO BECOME TWITTER

Direct download: Episode_47_FINAL_v2.mp3
Category:Food -- posted at: 11:08am CDT

Colombia was one of the last countries in the western hemisphere to have McDonald's. In the 1990's, it was a very dangerous country. Leftist guerrillas, terrorism, narcos, and a business climate with more bureaucracy and red tape than any US citizen could imagine.

While McDonald's unsuccessfully tried a few years before, Pedro Medina made it happen. And he almost lost his life doing it. McDonald's is still a thriving franchise in Colombia today.  We hear the full story:

  • How he convinced McDonald's to grant him the right to launch in Colombia
  • Biggest challenges they faced opening 10 locations in the first year
  • Why McDonald's could be considered to be a real estate business
  • Hindsight: what they would have done differently
  • How Pedro and his foundation are changing the perception of Colombia (check out his Ted Talk)

Mentioned in this episode:

Yo Creo en Colombia (I believe in Colombia)

Pedro Medina TedX talk (in Spanish)

Pedro on Twitter 

Direct download: Episode_46_v1.mp3
Category:general -- posted at: 11:47am CDT

It is time that you learn about insect gastronomy. The world is not sustainable with such a high diet of beef. Right now, there are 1900 known edible insects or at least 1900 flavors! I had a great time learning from Eli and Lee Cadesky. Things like:

  • The adventure of 3 brothers into the world of insect gastronomy.
  • Why insects WILL be a part of everyone's diet in the future.
  • Definition of a complete protein - "You are only as strong as your weakest amino acid link."
  • Thought For Food - the accelerator program that helped C-fu go to the next level.
  • Shocking stats about why world is not sustainable with such a high % of beef in our diet.
  • Insect acquisition and product development.
  • The blueprint to grow C-fu in North America.

Mentioned in this Episode:

C-fu Foods

Next Millennium Farms

Edible Insects - Future prospects for food and feed security - United Nations (FAO)

Thought For Food

Buy Live Mealworms on Amazon!!

Direct download: Episode_45_FINAL_v3.mp3
Category:Food -- posted at: 10:08am CDT

"How is business going? It’s good.." If you are an entrepreneur, everyone asks you this question. How do you know it’s good? Financial health; key financial metrics. It turns out that even top level execs lack a complete understanding of basic financial principles.

Joe Knight, co-founder of the Business Literary Institute, teaches C-level execs at Fortune 500 companies basic financial literacy. He honed his skills at Setpoint Systems, where they have clients like Tesla Motors. I know him through his book: Financial Intelligence for Entrepreneurs.

In the episode, we talk about:

  • The importance of financial literacy for EVERYONE in your company, not just the "finance people".
  • Why and how to consider finance when making large investment and business decisions.
  • If your current ratio is less than 1, your company is probably not  a good place to work.
  • Cash flow and it's vital importance to the health of your business.
  • Extra: A crucial tip from Matt on container shipping.

Mentioned in this episode:

Vocab (definitions by Investopedia) -

Current Ratio

Quick Ratio

Free Cash Flow (FCF)

Burn Rate

Gross Profit Margin (Note: Joe breaks this stat down to a per hour basis)

EBITDA

Return on Investment (ROI)

Return on Assets (ROA)

Links -

Setpoint Systems

Financial Intelligence for Entrepreneurs.

Business Literacy Institute

Return on Investment Toolkit - Harvard Business Review

Are Your People Financially Literate?

Joe Knight Bio:

Joe trains managers and leaders at Fortune 500 companies such as Electronic Arts, NBC News, General Electric, Granite Construction and UTC Aerospace Systems. Joe’s unique ability to combine content with energy and humor make his keynote addresses resounding successes with diverse audiences including the Construction Industry Institute; Independent College Bookstore Association; The Association of General Contractors; International Institute for Supply Management; and Society for Human Resource Management.

Joe is co-author of Financial Intelligence, a smart, no-nonsense business finance handbook for managers. The book has been heralded as “the Elements of Style” of finance by CFO.com. Financial Intelligence was featured in The 100 Best Business Books of All Time and has been turned into a graphic novel by Smarter Comics. Joe also co- authored Project Management for Profit which outlines the easy-to-implement system he helped create at Setpoint to manage projects towards profitability no matter what stage the project is in.

Joe is co-owner and CFO of Setpoint Systems, Inc, a manufacturing company based in Ogden, UT.

 

 

Direct download: Episode44_mixdown.mp3
Category:Food -- posted at: 3:30pm CDT

Every wondered how the big grains are traded? We speak with Elaine Kub, farmer, trader, and author of Mastering the Grain Markets: How Profits Are Really Made.

We get a behind the scenes look at major grain trading and tons of tips for startups. You don't want to miss this:

  • Finding the underlying idea behind major business moves
  • Why you need to consider global warming in your food investments. Hint: California almonds, 2015 is a big year
  • When to invest in land
  • Stress management when making big bets
  • Increase your success rates with local arbitrage
  • How to get a rough, quantitative view of a specialty food industry

 

Mentioned in this podcast:

Book: Mastering the Grain Markets: How Profits Are Really Made

Website: Mastering the Grain Markets

Twitter: Elaine Kub

Elaine Kub Bio:

Elaine Kub is the author of Mastering the Grain Markets: How Profits Are Really Made – a 360-degree look at all aspects of grain trading, which draws on her experiences as a futures broker, market analyst, grain merchandiser, and farmer.

Before earning an engineering degree from the University of Nebraska and a Masters of Business Administration from the University of California San Diego, Kub grew up on a family farm in South Dakota, where she is still active in grain and livestock production.

 

Direct download: Episode43_FINALmixdown.mp3
Category:general -- posted at: 4:58pm CDT

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