Get On The Pitch Circuit
The Business of Food
by Jennifer Barney
Get On The Pitch Circuit
1-min read
I can’t talk about my idea because someone will steal it.
Stop. Listen to yourself. Whenever I talk to founders with this mentality I can’t help but think these are the people that couldn’t shake the film The Social Network.
If you’re hesitant to get on the pitch circuit, and this probably isn’t you, but just in case:
The biggest reason no one will steal your idea is grit. After product/market fit this is the main thing investors look for in a founder. Because it’s going to be hard. It will be the most challenging and emotionally taxing thing you’ve ever done.
Most people can’t hack it
No one has the perseverance or resilience to see your idea through except you (see prior post about Kodiak Cakes), not even big corporates.
Corporate pipelines take too long and their internal stage gate processes kill innovation. Not only do all the minds have to align, but their supply chains are inflexible, which results in watered-down products stripped of their original genius. Corporates know they can’t innovate (and I’m not talking about Oreo-type line extensions and seasonal flavors but real disruptive innovation), so they look to invest in and eventually buy brands. Sometimes they invest in brands early to acquire them later, and do a great job with them (like Coke with Fairlife), and sometimes they nearly kill acquired brands (like Hershey with Krave – which Sonoma Brands eventually bought back).
The point is, the best investors are those that specialize in CPG because of the support, mentorship, and resources afforded. You find these investors through incubator, accelerator, and pitch programs.
So get on it.
FoodBytes – CPG, FoodTech & AgTech pitch
Food System 6 – Seeking impact-driven food and farm businesses to join Cohort 7
Food Funded – Food entrepreneurs and investors convene for educational workshops and live investment presentations to catalyze the funding flow for food ventures
NOSH Live – for Better-Four-You brands
SnackFutures – Mondelez’s CoLab for startups
Impact SKU – for impact-driven CPG with revenues between $100K and $1 million
Naturally Boulder Pitch Slam – Colorado natural and organic products
All my best,
Jennifer
News
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I'd love to hear from you - get in touch at jennifer@3rdandbroadway.com