CoachMaz recently had the pleasure of being on the Javier Morquecho Show, a podcast about learning to start, grow and scale your business. Listen to the entire show below and read a snippet of the transcript.
Deb: Thank you for having me, Javier.
Javier: Yeah, and so in today’s episode I wanna talk to you about what do we need to know to start and grow a food or beverage business, whether we’re just starting out or we’ve been in business for years. So let’s start by asking what do you find is the most common problem that food or beverage businesses face?
Deb: The number one thing is lack of industry knowledge. So people have a great idea, and they wanna get started and they get their product made. So they figure that part out, but they really don’t understand the business part of it, the sales and marketing part of it, how to get their product in stores. They just make this big assumption that if it’s a great product, there’ll be a market for it.
Javier: Yeah, and you say that the lack of industry experience. And is this because most people are coming into the industry from outside of the beverage or food space?
Deb: Yes, they’re coming from outside of the industry and they’re coming from non-business backgrounds. So I find that the most successful people are people who were either in the industry before and they’ve decided to create their own product, or people who have been strong business people in some other business and they come to this industry, or people who have been great sales people because especially if you’ve sold something hard, like print advertising or something that’s really competitive, then you’ll come at this with the revenue generation as your foremost issue that you wanna accomplish, and you know that the more money you bring into your company, the easier it is to do all the things you need to do to make it successful. You can make a lot of mistakes if you have cash flow. Let’s put it that way.