The Food Startups Podcast

85 dollars is the most I ever paid for a book. Not a textbook, but book. I had to have it.

And it was one of the best decisions I ever made. I am a better thinker and food entrepreneur because of it.

The most important takeaway from the book was the importance of having a latticework of mental models in decision making.

Mental models are the key concepts from main disciplines you'll need in business - psychology, economics, finance, physics, evolution (biology) accounting, marketing, etc.

In less than 10 minutes, I explain the why and I share my four favorite mental models.

This can be a game changer for your prosperity/performance. I encourage YOU to follow the steps below to begin your masters in mental models. I have to say it is quite fun.

First Read:
Seeking Wisdom: From Darwin to Munger

Then, review these two lists of models:
Creating a Latticework of Mental Models: An Introduction

Mental Models I Find Repeatedly Useful

Finally put together a list of mental models and create flashcards to study:

Anki - Friendly, Intelligent Flashcards

Cover Photo Credit: CC Photo by “Berkshire Hathaway 2009 Munger quote” User TEDizen

Direct download: Podcast_103.mp3
Category:Food -- posted at: 1:29am CDT

Evan Delahanty is one of the few people I know who has lived in the the middle of the Amazon Rainforest. I mean taking a canoe 3 hours UP river. As a Peace Corps volunteer in Suriname, he learned a language that only 26,000 people speak (Saramaccan)!

After completing his mission, he was looking for a way to stay in touch and help the community. He choose Açaí as the vehicle to accomplish that.

Evan founded Peaceful Fruits, a snack company that makes delicious organic fruit snacks that create jobs for people with disabilities in Akron while helping to protect the Amazon Rainforest. I LOVE how he is helping two distinct communities!!

Peaceful Fruits is currently in about 50 stores and working hard to scale up. Evan shares his journey:

  • How he got his company off the ground
  • Sourcing in Suriname / wild harvesting
  • How to maintain consistency with an artisan product
  • The joys and business advantages of working with the developmentally disabled
  • All about Açaí, the superfruit
  • How to scale up when working in a remote part of the world
  • Why timing is crucial to success
  • When to involve a famous celebrity from Akron, Ohio (hint: he's very athletic)
  • The two types of people in the world
  • The Crowdfunding campaign coming up
  • Plans to scale up the company in U.S.

Selected links from the show:
Peaceful Fruits
Cleveland Culinary Launch
Kuli Kuli Foods
Saramaccan language
Lebron James Foundation
Cornell University Food Lab

 

Direct download: podcast_9_peaceful_fruits.mp3
Category:general -- posted at: 9:30am CDT

Seth Goldman co-founded Honest® Tea in 1998 with Professor Barry Nalebuff of the Yale School of Management. Thirteen years later they were acquired and are now a $160 million division of Coca-Cola.

Today, Honest Tea is the nation’s top selling ready-to-drink organic bottled tea and Honest Kids® is the nation’s top-selling organic children/youth beverage.

The brands are carried in more than 100,000 outlets in the United States, including all Wendy’s and Chik-fil-A restaurants.

It was a long, tough, and fun road to get to where they are today. One of the best food business books I have ever read, Mission in a Bottle tells their story. I interviewed Seth about the book and he responded with sage advice for emerging food startups:

  • "I can't ask others to invest if I'm not completely invested in myself."
  • The biggest mistakes that almost put the company under
  • Why the company needs to shift and evolve along the way
  • Dealing with competitors inside the tent
  • "Creating a successful company depends on your ability to successfully two questions"
  • How to sign on and have success with distributors
  • Learnings from an unsuccessful run with Barnes + Noble
  • How he sold Canada Dry Potomac after 4 years of rejections
  • Why the "little things" add up and can make or break your company
  • "You have to win in New York" - Learnings from a Red Sox fan
  • On selling their company to Coca-Cola
  • How Seth managed a harmonious and prolific relationship with his co-founder
  • Negotiating shipping rates
  • The main problems he sees in advising food startups

Selected links from the episode:
Honest Tea
Mission in a Bottle (note from Matt: Read it!!)
Coca Cola Venturing & Emerging Brands
Ripple Foods
Beyond Meat
Calvert Investments
American Beverage Association
Bethesda Green

 

Direct download: podcast_8_honestea.mp3
Category:general -- posted at: 4:12pm CDT

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