243. How to Avoid the Most Common Food Biz Finance Pitfalls

Just found the Food Biz Wiz podcast? Welcome, wiz! My name is Alli and I’m a former wholesale buyer turned wholesale consultant and the creator of Retail Ready®. We help CPG (consumer packaged goods) brands with how to land on more shelves and have high sales once you’re there. You can expect to hear tons of honest, industry insider information, tough love, and advice for building a business that works for you! Check out our Listener Guide HERE to find the most relevant content for your business RIGHT NOW and be sure to connect with us over on Instagram. I can’t wait for you to get into our content, so click play on a full episode below!

  Welcome to the 250th episode of the Food Biz Wiz podcast, wizes! We are thrilled to have published 250 episodes of valuable, hard-to-access information from the packaged food and beverage industry.   As it’s our last episode, this episode is a bit different. It’s a short welcome episode for those just discovering the Food Biz Wiz Podcast Library for the first time. You’ll hear me share more about...   How you can navigate our hundreds of podcast episodes with our BRAND NEW listener guide Ways to make the best use out of our content And how you can help us celebrate this milestone: leaving ratings and sharing our social media posts!   Did you miss our announcement on why we made this decision? Check out episode 249 just below this one. Click here to grab our listener guide so that you can access the most useful episodes NOW and find our full show notes here!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. Wizes, we have some BIG news that we’ve been sitting on: episode 250 will be the last new episode of the Food Biz Wiz Podcast. We were a little bit nervous about how you would receive this news, but we want to tell you the 3 reasons why we’re stopping here, AND how our decision-making process can help you with your next big business decision. So here’s what we’ll cover in today’s episode: Why and how we’re celebrating this HUGE milestone of 250 episodes of the Food Biz Wiz Podcast (and how you can join us!) The 3 reasons why we’re not publishing new podcast episodes after next week, despite the huge successes of the podcast What this big change means for you as our listeners, and how we can continue growing together! We appreciate your listenership deeply and hope that you’ll join us as we explain the process behind why we’re taking this next step. You can find our full show notes at this link!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. Retail Ready is OPEN FOR ENROLLMENT!  Wizes – yes, we’re talking to you! – if you listen to this podcast and it’s exactly the information you need…then imagine what it’d be like to get expert CPG biz advice, tailored to YOUR situation, directly from me, Charlie, and our team inside of Retail Ready. Imagine what it’s like to be in a supportive community of other founders – and not alone – when a biz challenge or question comes up. Today’s episode is for those of you who have been on the fence about Retail Ready®. In this episode, we welcome 10 women who are past and current Retail Ready® students, to hear how their business has grown since joining our program. Then, I walk you through the behind-the-scenes of Retail Ready®, telling you ALLLL about what you get when you join our program. We don’t want you to miss out, so JOIN US TODAY here!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. Even though Alli hosts guests on the Food Biz Wiz podcast frequently, she is rarely the one being interviewed. This episode, we turn the tables on Alli and ask her to share the story behind how she got her buyer perspective. You’ll hear about… The challenges Alli navigated going from a consumer to a buyer in the thick of retail What the difference is between markup and margin and how easy they are to mix up! And why you need to save some bandwidth for after you get on the shelf! As always, we want to connect further with you: which tidbit from this episode impacted you the most? Let us know via our Instagram or LinkedIn DMs, which are both linked in our full show notes here! This episode is sponsored by our mini Reorder Checklist! This checklist can help you be more likely to sell off those shelves and receive reorders. You can find our simplified version at the link here OR, if you’re a Retail Ready® student, you can find the longform version and training directly within our course platform!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. We have recently shared some of the mistakes that we see founders make in retail…now what about good starting points? In this episode of the Food Biz Wiz podcast, Alli focuses on THREE of her most important retail rules. These rules are applicable for all brands, but especially ones who are self-funded and building a brand that works for them! You’ll hear… How you can ensure that you’re getting into the right channels for success Why not to rely on that paid list of buyer contacts And what role brokers and distributors can truly play in your business As usual, we want to know WHICH rule resonates most? DM us on Instagram or LinkedIn to let us know. Find the links to our Instagram and LinkedIn as well as all the valuable resources mentioned in our full show notes here! This episode is sponsored by our Retail Roadmap! Receiving “insider” knowledge can make a world of difference for an emerging brand. We want to share Alli’s buyer expertise so that you know what it takes to get ON the retail shelf - be it a physical or digital shelf - AND have high sales once you're there! Find our free, nine-step guide to building a brand that flies off the shelf by clicking here so that you’re planning for each next step NOW!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. The opportunity to sell our products in a franchise seems like a no-brainer. Right? Well, there is usually more to consider: distribution, our production capacity, and more! That’s why we’re so excited to share this “Is It Worth It, Charlie?” episode where Charlie and Natalia, the founder and owner of Curious Cat Bakery, discuss just this. As Natalia thinks through whether she should start selling her frozen vegan croissants to a local franchise, you’ll hear more about… The main questions she wants to answer before saying yes  How she can ease into an agreement that will allow more organic growth And what her next steps after the conversation are! We know plenty of you have likely wondered this same question, so we can't wait to hear which part of this episode you needed to hear most. Let us know by sending us a DM on Instagram or LinkedIn. Find our links and more about Natalia and Curious Cat Bakery at our full show notes here! This episode is sponsored by our Secret Sauce Quiz! Do you want to know what’s working in YOUR biz? Then make sure to take our Secret Sauce Quiz! You’ll answer 10 quick questions on yourself and your biz, and then you’ll learn your brand's current strength & how you can leverage that this year. You’ll receive a curated list of free resources for your exact stage of business so that you can do MORE of what’s working. Click here to take the quiz and receive your results and resources today!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. We know. When someone tells you what not to do, it’s easy to tune them out. Maybe they aren’t in your position or they don’t have experience with your challenges. But it’s quite the opposite in today’s episode. Charlie Berkinshaw, the founder and CEO of Element Shrub and our VP of Student Success here at Retail Ready®, joins Alli to discuss the top 3 mistakes he sees food founders make. Charlie has been running Element Shrub for over 9 years as a solopreneur, which means that he knows firsthand the challenges of this industry. You’ll hear… How running a business based on what other folks are doing can be costly What you can do to avoid running into unexpected costs when you don’t account for your labor And why you need to be eyes wide open on what a distributor might cost Charlie’s sharing all this and more so that you can save yourself time and effort. If you’d like to learn more about Element Shrub and Charlie’s work here at Food Biz Wiz, then check out our full show notes here! This episode is sponsored by our Retail Roadmap! Similar to how Charlie shares his “insider” knowledge in this episode, we want to share Alli’s buyer expertise so that you know what it takes to get ON the retail shelf - be it a physical or digital shelf - AND have high sales once you're there! Find our free, nine-step guide to building a brand that flies off the shelf by clicking here so that you’re planning for each next step NOW!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. Online, on TV, and from your next door neighbor, you’ll hear tons of financial advice for your business. “Avoid debt at all costs.” “You need to spend money to make money.” “Advisors from Fortune 500 companies will always know better than you.” It can be confusing to say the least! In this episode, Sarah Delevan, the Founder & CEO of Sarah Delevan Consulting & The Good Food CFO, joins us to shed light on some of the most common financial challenges food businesses face, debunk some misconceptions, AND share how brands can navigate those challenges. In this episode of the Food Biz Wiz podcast, you’ll hear more about…. Why higher sales don’t automatically solve a cash flow problem How critical it is to know all of your product margins What you can do to take a holistic approach to your cash flow and margin Reframing how we see debt and why it’s not inherently bad to have debt Wizes, we can’t wait for you to listen to this conversation! If you want to check out all the useful episodes mentioned, as well as more about Sarah, check out our full show notes here. You’ll also find our Instagram and LinkedIn links there as well! This episode is sponsored by OUR MASTERCLASS! As Sarah and Alli discussed, you need to find out where your product’s right channels are. This is just one of the many things we discuss in our Masterclass, which includes tons of actionable tips for growing your CPG food business, plus hear more about joining us in Retail Ready®. Click here to sign up for a time to watch our free Masterclass!

Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE. We can all agree: it’s TOO easy to dust off a box of Girl Scout cookies. So when Girl Scout cookie season rolls around, I try to avoid buying their cookies at all costs. But this season, as a savvy young Girl Scout in my neighborhood used her bag of sales tricks on me, it got me thinking about what sales tactics work and don’t work in the CPG world. In this brief episode, you’lll hear… The 3 easy sales tactics that you can borrow from this young seller for YOUR CPG sales One of the missed opportunities for increased sales that you can capture Plus more about my freebie to use with these tactics! We want to see you share this episode with your fellow food founders. Make sure to tag us on Instagram and LinkedIn, which you can find in our full show notes here! This episode is sponsored by our freebie workbook outlining 100 Buyer No’s. This workbook will walk you through prepping for any possible wholesale buyer objection and guide you in crafting a response that lets buyers know you are READY to get ON and sell OFF their shelf. It’s the perfect tool to have as you prepare for all your pitches. Find the free download here!