[00:00:03] Ray Latif: This is the BevNET podcast. I'm Ray Latif. I'm here with John Craven and Jon Landis. We have an extra special guest here in John Craven's office, and that is Mike Schneider, the Mike Schneider Mike. Of BevNET. How are you, Mike?
[00:00:14] John Craven: I'm living the dream.
[00:00:16] Ray Latif: You look like you're living the dream.
[00:00:17] John Craven: Every day.
[00:00:17] Ray Latif: Laid back, in the cut, as they say. How are you doing? It's a fine, beautiful day here in the Boston area. Are you feeling good? You've been here about six, seven weeks now. You still feeling good about this?
[00:00:28] John Craven: I'm still feeling great about this. I'm pretty excited about all the great things we have coming up. The podcast.
[00:00:33] Ray Latif: which we're on right now.
[00:00:35] John Craven: All kinds of great stuff.
[00:00:37] Ray Latif: Good deal, good deal.
[00:00:38] Jon Landis: And you're highly caffeinated, so. Yeah. Always. I think you're just in it for the free coffee. I'm not, not going to lie. You sort of turned into the office barista too.
[00:00:46] Gigi Lee: Well, no, he brought his, he brought his own coffee from Costa Rica.
[00:00:49] Ray Latif: Coffee beans. That's like next level, but. BYOC. Did that jam up the coffee machine? Cause they're, they're really well roasted and caramel.
[00:00:57] John Craven: Yeah. I mean, I'm cleaning out the grinder. I, I've been given coffee training. That's one of your jobs, coffee cleaning training.
[00:01:04] Ray Latif: Yeah. You mentioned the podcast now. You went out to New York with John Craven last week, and you guys recorded a couple of great interviews in New York, including one with Gigi Lee Chang, who's the founder of Plum Organics, a really well-known baby food company. And she's also with Food Future Co. What does she do at Food Future Co.?
[00:01:20] Jon Landis: Yeah, so she's the Managing Director there, along with the founder of Food Future Co., Shen Tong, who we had speak at BevNET Live. Basically, they are an accelerator. It's interesting in that, obviously, her background is in a CPG product. And, you know, this is something where they're not limited to CPG. They've got a whole bunch of different things, which she kind of talks about a little in the podcast. You know, they kind of have these groups called cohorts that are like the classes at the accelerator. And I guess the key distinction of Accelerator versus Incubator is they're not looking for pre-revenue. They're looking for entrepreneurs that have been out there and they've got a little spark going and they've proven themselves a little bit. I think it's a really neat venture that they have. some great experience. And I think we, again, talk about this in the interview too, what seems like eons ago. It's, I think, a little over a decade since she started Plum Organics. 12 years, right? Yeah, my math's a little slow. We talk a lot about how things have changed and some of the similarities as well. But yeah, I mean, she's an awesome resource for entrepreneurs, I suppose, at any stage. But, you know, you can hear more in this interview and I think she even speaks to how to reach out to her too, so. Yeah, let's roll the tape. All right, so we're here in New York City, and I am here with Gigi Lee Chang, who is the Managing Director of Food Future Co. Thanks for joining me.
[00:02:57] Managing Director: Thanks, Jon, for having me.
[00:02:59] Jon Landis: You have quite the background having started a very successful consumer product company, Plum Organics, and now you've taken on a new role. I guess, geez, it's been over a decade since Plum started, right?
[00:03:13] Managing Director: Yes. 12 years.
[00:03:14] Jon Landis: 12 years. Time flies. I feel like I remember that like it was yesterday. I'm getting old.
[00:03:18] Managing Director: Yeah. I kind of lose track. The way that I can keep track is basically I started it when my son was a year old, so I just take his age minus one.
[00:03:26] Jon Landis: That's pretty good. I like that. So let's, let's start with that though, since you are an entrepreneur, I guess I don't want to say in your past life, because technically you're still an entrepreneur here launching a new company, but an entrepreneur that, you know, many of our listeners can relate to trying to start your own product company. What was that like, you know, just in hindsight, launching your own thing, I guess, maybe the sort of uncertainties that were lying ahead of you and kind of how it ended up being a success. Like, you know, how do you look back at that now and that journey in particular?
[00:04:01] Managing Director: Yeah, that's a really great question. I don't think that there's really any one set of answers that you can say works for everyone. I can just speak from my own personal experience. Relative to that, I think the first thing is be comfortable with what you don't know. So, you know, I come from a marketing agency background, strategic planning. I spent nine months doing research in market analysis because that's what I was comfortable with. But obviously there was a lot more that I didn't know. So I brought people in that could teach me and I think that is a big part of it. getting comfortable with what you don't know and being comfortable with asking others for help and also just being a really quick study. So, and being willing to ask questions. I always sort of say, you know, I would rather ask a stupid question and learn something than not ask and never know. So I think that's the first part of it. I think secondly is things are always going to change. So again, kind of having a business background and MBA and research planning, I had this like great business plan. And you know, everybody says nothing ever goes according to the business plan. So be flexible with all the turns that come your way. And ultimately, I think if you are building a business that you seek outside funding for, don't get caught up in Whether you're actually directly performing against what you said you would, I think investors really are looking at how you respond to the challenges, the dips, the turns that happen. And if you're sort of super stuck in your ways and say, well, I said I was gonna do this and I'm gonna stick on this path, that actually speaks. negatively toward you as an entrepreneur. So I think be comfortable with change is also another, I guess, learning.
[00:05:58] Jon Landis: And how would you say you balance that with kind of the reverse, which I guess we're taking a little tangent here, but I think this is great info for entrepreneurs, but there seem to be, you know, certain entrepreneurs who are, you know, maybe they have their plan or maybe they don't, but they're in like a constant state of, of pivot, you know, the current thing isn't working, but they've got the next thing. And, you know, it is something where at some point you have to commit, right?
[00:06:24] Managing Director: Yeah, and I think ultimately, you have to know what your mission and values for the company is, what you're trying to build, what your competitive difference is, and your point of view. So that should really remain the same. It's how you get there that is the flexible piece of it. So to your point, sometimes, If something isn't working, companies will be like, oh, well, now we're going to completely throw out that model and we're going to just try it this way instead. If there's good reason to do that, then that's good. But if you're doing it just because you're continuously testing, that can cost you time and money and not give a lot of confidence.
[00:07:13] Jon Landis: And I guess, you know, now that we're 12 years later and you're dealing with companies that are, you know, they're not totally at square one, but they're early stage, right? Yes. And what sort of differences do you see in just, you know, the climate that's out there right now, good, bad, ugly, otherwise, you know, versus when you started out?
[00:07:35] Managing Director: Sure. So I think in 12 years, the natural organic products industry has evolved significantly. I feel that when I came in, it was sort of the tail end of 1.0 and I sort of lived 2.0 and we're probably very squarely in 3.0 if not already 4.0.
[00:07:58] Jon Landis: With the cycle sort of moving maybe faster, right?
[00:08:01] Managing Director: Yeah, faster. So from that perspective, I think certainly the awareness and the knowledge of the entrepreneurs is much greater than when I started out. So I remember when I was trying to find an advisor to help me, And especially being based in New York City, I found all of these specialty foods people. And there were tons of people that could help me go to market if I had a brownie recipe or a jam recipe or if I had pickles. But no one could really help me because I had a business concept. I had no products, I just had a positioning and a platform and a lifestyle brand that I wanted to create. It took me six months to find an advisor that actually understood what I was trying to do. In today's climate, there are tons and tons and tons of people out there that can help companies get off the ground, put a business plan together, understand the marketplace, all of those things. So the knowledge of the entrepreneurs and resources to figure it out, to get to market, to raise capital, to do R&D is significantly greater. So that's a positive. But then the negative side of that is there is so much more competition. You know, now it's such a hot area and you see all the stuff in the news every day about, you know, Coca-Cola having all these layoffs because their numbers have been flat and declining. And all of the interest in the corporate venture groups and natural organics. So, you know, on one hand, it's exciting because people are paying more attention, both corporate level investors, but it also means there's that much more noise. So as an entrepreneur, I think it's harder to find a product or business platform that is truly unique.
[00:10:02] Jon Landis: Well, it also, I guess, from where I sit at least, and you can tell me if you agree or disagree, but it seems like the categories become crowded much more quickly than they used to, too. I mean, it seems like, thinking back to the days of Plum, just from what I saw, you had competition for sure, but there's still today almost companies that are launching to compete with Plum that You know, it's 10 years later, right? And then on the other side of that, there are new categories. We talk a lot about Cold Brew coffee, for example, that one might not even or might not even recognize as a real category, but there are plenty of brands in it. Do you feel like that cycle has sped up as well?
[00:10:43] Managing Director: Yeah, absolutely. I think the cycles have sped up and also the competitive nature. So both, I think, fuel that speed to market energy. So you bring up the point about baby food and plums. So when I launched before in organic baby food, there was Earth's Best that had really been around, you know, 20 years. And certainly Gerber had their organic line, but it was a very small part of their business. When I launched, there were two or three other brands that launched around the same time. Some of them moved on to other categories and are no longer in baby food and some stayed. So I would say all told, 12 years ago, there was three entrants. Now you see sort of baby food having this resurgence because of the HPP technology.
[00:11:36] SPEAKER_??: Right.
[00:11:36] Managing Director: I can tell you, you know, in the last year I've been, it's a natural, I guess, for people to call me for baby food. And there's probably about a dozen companies and some that haven't even launched. But I guess the difference there is it's not just that it's HPP. as a differentiator, but also how they're going to market. So now access to market is also much faster. And again, you see that playing out with the struggles that Whole Foods has because Target and other retailers that were sort of taking more of a wait-and-see attitude 10 years ago are almost first port of call these days for entrepreneurs.
[00:12:15] Jon Landis: Right. That's definitely something we're seeing quite a bit of is that reliance just on Whole Foods, you know, when it was sort of the only way to launch a product like that has changed a lot. Taking traditional retail or e-commerce or whatever, it might be all these things that weren't there for early stage entrepreneurs a long time ago. So, but I guess you're probably all set in the baby food category for now.
[00:12:40] Managing Director: Yes, I think so.
[00:12:42] Jon Landis: So I guess getting over to Food Future Co., can you give our listeners a little background on that, just how and when it got started and kind of what you guys do?
[00:12:53] Managing Director: Sure, absolutely. So Food Future Co. was founded by a gentleman named Shen Tong, who started Food Future Co. in early 2016. And he came to see an opportunity for Food Future Co. based on his most recent previous experience, having founded a food vertical incubator. Yes. A food vertical incubator, Food X. So, and so Food X is focused on food, but it's, you know, pre-revenue kind of typical incubator getting to market. And over the several years that he was leading that incubator, he came to see how the companies would get to market. and be out in market 12, 18, 24 months later and kind of hit a wall. And so the idea for Food Future Co. came from that because we also recognize, again, to all those resources that we talked about, it's actually easier to start a company these days than ever. Equally, it's that much harder to stay in business because another point that is pretty different, if you are talking traditional retail, from when I started is in the 2.0 version, that's when all the consolidation was happening. when I came to market, there were that many more distributors, that many more retailers, that many more. So if you got a no in one place, you could have other options to go. But now, because of all the consolidation across the sales and distribution chain, right? So not just retailers, but brokers, distributors, sales management organizations, et cetera, it's harder and harder to find the right team to pull together to go to market if you get a no in one place. There's fewer places to go. And a consequence of that is also it's that much more expensive.
[00:14:53] Jon Landis: Expensive to just get in the door.
[00:14:55] Managing Director: Yes. Expensive to just get in the door because I remember, again, when I went to Whole Foods Northeast and, you know, everybody says slotting is typically one case per store. You know, I actually had the buyer tell me, you don't have to give me a case, a half a case will be fine. Because, you know, I guess he liked what we were doing and he wanted to help me out. Whereas now I'm hearing, you know, obviously the Northeast is, if not the largest, one of the largest regions for revenue. They are asking for two cases and that's a very hard and fast rule. So if you think about that in terms of cost of doing business, it's super expensive because of the consolidation of power and also the fact that everything is less fragmented. So with that in mind, Chen really wanted to, you know, I always talk about Food Future as we have a mission ourselves and our mission is to serve the entrepreneurs. So we focus on companies that are maybe 500K to a million dollars in revenue. And who have validated their product business model in a few markets and are looking for that next stage growth. So, you know, Jeffrey Moore kind of called it that, you know, crossing the chasm. As an entrepreneur, there's many chasms, but perhaps this is one of the first bigger chasms to be facing. And it's also the stage where you're actually not big enough to attract the interest of formal capital. And maybe you've sort of tapped your friends and family and those angels that are willing to do seed rounds. So, you're kind of in this rock and a hard place because you have some success and some traction, but not enough, and you need to show more, but you actually don't have more capital or resources to do it with. So, that's really where we focus. So, our program really is highly consultative in nature. And, you know, we recognize that these are businesses that are out in the market. They are facing challenges every day. So it's not a standard program approach. And from cohort to cohort, we really customize it because we recognize that for many reasons, the life stage of the company, the business model, the segment they operate in, there's specific variables that are going to be different every time.
[00:17:34] Jon Landis: And the cohort is your sort of class of companies, right?
[00:17:38] Managing Director: Yes, our class of companies. And so that's sort of the first, I guess, point of difference relative to Food Future Co as an accelerator. The second point of difference is that we work across segments. So as our name suggests, we focus entirely on food, but we're not strictly in one areas such as consumer, we really look at sectors. So our larger mission is really to help to move the better food ecosystem. And through that, we've identified, I guess, subcategories where if we can help to move the needle, increase awareness, help companies succeed, then that in turn will better support the good food movement. So areas include food waste, sustainable seafood, local agriculture, and within any of those areas, the companies and the business models represented can vary from a technology platform a food hub, a consumer brand. And the idea is that over time, as we have two cohorts a year, eight to 10 companies a year, over 10 years, we'll have 100 companies. And if every company is moving the needle in its small way, collectively, we can move the needle in a little bigger way.
[00:19:04] Jon Landis: Gotcha.
[00:19:05] Managing Director: Yeah. And then the last part of Food Future Co. I would say is, you know, mission values driven. So I think it's sort of cool to be talking about mission and impact, but for us, it's very important. And again, it's serving that larger ecosystem, good food perspective. So just because it's a better for you product, that probably would not meet our standard.
[00:19:32] Jon Landis: Gotcha. Well, you were, I think, an early sort of, I don't know if you call it backer or participant of B Corp as well, right?
[00:19:39] Managing Director: Yes.
[00:19:40] Jon Landis: So, I mean, it's a similar sort of value set as that?
[00:19:43] Managing Director: Yes. Yes, absolutely.
[00:19:44] Jon Landis: So, I guess when you're sort of doing all of that, I mean, it sounds like the potential companies that are out there must be pretty wide, right? If you're not just consumer focused, Cold Brew tech, Cold Brew something else that fits into that. I guess just in terms of, you know, when you guys are looking at the landscape of what's out there, how do you how do you focus in and decide, I guess, even which companies you feel like are at that point where they've proved their concept? I mean, I assume the level where you'd say a tech company has proved their concept is different than a CPG company, right?
[00:20:20] Managing Director: Yeah, absolutely. So if you can answer that, then you can have my job.
[00:20:27] Jon Landis: A loaded question. I'll admit so.
[00:20:29] Managing Director: Yeah. No, I mean, of course it's definitely trial and error and we're learning, right? There's no secret sauce. I think we do our best. There's many accelerator platforms out there. So obviously we're active on those and you know, accelerators and incubators have become so prevalent that it's a channel that entrepreneurs will go to if they're looking for advisors or some sort of help. So there's that platform level, I guess, inbound. And then there's also, you know, we try to be out there in events and conferences and networking. So our larger ecosystem of getting the word out and then there's also proactive solicitation. So again, you know, we're always monitoring the industry keeping our eyes open for interesting companies and We will proactively reach out to them and so far from a mix in our first two cohorts it's been about a third a third a third so, you know, it is interesting from that perspective and You know, again, our own solicitation, ecosystem, community referrals, and then coming through the platform.
[00:21:46] Jon Landis: And I guess you were sort of, I don't know if I'd say you were making a dig at CPG companies. It can't just be sort of like a healthier. You know, it sounds like you have a pretty strong opinion on that particular segment, having your background from there. And I guess that lines up nicely with what we do. So curious if you can expand on that a little more for us, too.
[00:22:06] Managing Director: Sure. And you know, for myself personally, too, in terms of my professional path, that is one of the reasons why I came to Food Future was I wanted to learn and evolve beyond consumer products. And it is not a dig at CPG by any means. I think it's part of maybe just a reflection of the frustration around all of the noise.
[00:22:30] Jon Landis: Sure.
[00:22:30] Managing Director: Right. And we've all been to the trade shows, so we know what that looks like.
[00:22:34] Jon Landis: Lots of it.
[00:22:35] Managing Director: Lots of it, but I think at the same time, regardless of the category or segment area, the awareness and interest around mission and values alignment is that much greater too. So that's super exciting. Perhaps I could just talk a little bit about two of our current cohort companies as an illustration.
[00:22:57] Jon Landis: Sure, that'd be great.
[00:22:58] Managing Director: So, one of them is a company called Unify Water. And when we first came across their application, we were sort of like another bottled water, right? But once you sort of look beyond, you realize what they're doing is really fantastic and it's super compelling. It is the only 100% US sourced, single source premium water. So it is a single source in the Appalachian Mountains. It's naturally pH 7.3. And because it's a single source, there is 100% traceability and visibility. They are also the only USDA certified water source that is safe for drinking direct from the source. And then, of course, they have a give back program of which a large component of it is domestic. So at first glance, do we need another bottled water? No. And that's also where I appreciate Shen's perspective of incremental change, because going into it, I was kind of like, we don't want to do bottled water. And his perspective is, why not? Because bottled water as a category and as a consumer product isn't going to go away. So if we can help bottled water be better, then that is how we're helping to move the needle. So I can appreciate that. And, you know, from a community perspective, not only is it about the source, but it's this, you know, rural area. And if they are successful, they're also going to create opportunity for their community. So from that sort of 360 perspective, it's super exciting. But again, at the face of it, bottled water.
[00:24:44] Jon Landis: Well, it seems like, I guess, to that point of moving the needle too, I mean, that seems like a needle move that's within realistic reach as opposed to making people stop consuming bottled water or something like that.
[00:24:57] Managing Director: Yeah, absolutely. So, and I think that's Shen's point is you're not going to prevent people from drinking bottled water, so why not get them to drink better, more ethically sourced, transparent water that also helps to revitalize a community?
[00:25:13] Jon Landis: And I guess you said a second company you want to talk about?
[00:25:15] Managing Director: Yes. And we sort of, I mean, they're both kind of in the same region, if you will. The other is in North Carolina. It's a company called Seal the Seasons. So what they do is they buy produce, so fruit and vegetables, from family farms in their region. and they freeze it at peak. So from a local food story, it is helping the family farmers and helping to mitigate the risk of having to find, you know, go to all the farmers markets and find an outlet for their yield in any particular season. But what they've done is they've created a consumer brand that is frozen fruit. And their unique differentiator is that it's state local. So it's North Carolina blueberries from North Carolina. And they only sell, they work at the regional retail level and those local retailers love it. And, you know, I don't say local meaning smaller chains. But Whole Foods North Carolina loves that it's North Carolina blueberries. Harris Teeter North Carolina loves that it's North Carolina blueberries. And they've been in market six months and they have really taken a significant share of the branded frozen fruit market from existing players. So that's huge and significant. And again, you know, they're looking to expand to Florida and Georgia and evolve and replicate. And they also have a fully traceable verify system that goes straight back to the farm. So it has this, you know, multidimensional component of the local food supply, the family farm, the attributes that consumers like, that retailers like, And their margins are great and they figured out a way to really scale it.
[00:27:22] Jon Landis: And that's that sounds like a pretty complex business in comparison to, I don't know, just making another slightly healthier chip or something like that. You know, as you look at a business like that, I mean, that seems like it's much more, again, driven by that, like moving the needle within, you know, whatever category or ecosystem you're trying to affect. How do you balance that from, I guess, just the other end of it of a viable business and I guess getting a return and all that sort of stuff that investors ultimately need?
[00:27:54] Managing Director: Yeah, I mean, it's a very delicate balance. And again, we're learning, so we'll find out. But I think ultimately, it comes down to what the market opportunity is for whatever the business model is. So just because it can work at a very local level. If it's not scalable, if it doesn't have that potential for some return, it's hard to sort of figure out what the metrics are right now. And one of the things that we're trying to kind of, I guess, ask ourselves In local food, there's a little bit of a, it's a little bit of an oxymoron. And I think the people in the local food movement are recognizing that. So that's kind of a larger philosophical question, right? Because the definition of local is you're kind of not supposed to be everywhere, but are there frameworks and models that can make it scalable and efficient while still retaining the attributes of local?
[00:29:04] Jon Landis: Well, I think also local, you know, to the point you were making earlier about noise has been used so much to the point where it is, I think in a lot of cases, similar to, I don't know, saying natural or fresh or some of these other just ubiquitous words that we see everywhere, right? taking those two businesses and just kind of what you've described about Food Future Co. Curious if and hopefully to bring this back for some of our listeners who are also in the boat of trying to start their own sort of thing. I mean, a lot of this must also have to do with the people that are behind these companies, right, which we're not talking about specifically here. But I guess I'm curious if there are any other sort of commonalities of entrepreneurs that you might see that would appeal to you guys, like what sort of stuff do you look for in the people that are behind these companies?
[00:29:57] Managing Director: Again, tough question. There is no one size fits all, but I do think that the vision and the mission of the founders and really understanding why they're doing what they're doing and if they can strike that balance of, for lack of a better phrase, save the world, but also being realistic around the fact that they're running a business. So I think that's super important. And to your point about all the pivots sometimes that you see, there are people that are doing it because they think they're going to get rich and they don't really realize that, you know, an overnight success is actually seven to 10 years and it's a pretty long path. So I think definitely the sort of the purpose behind why they're doing the business is one part. The other stuff I would say is, fairly typical, if you will, as far as what any other investor would look at is the market opportunity, the market validation, traction, things like that. And then for us specifically, that notion of system impact. For us, again, it doesn't have to be with a super huge capital S, but at a local lowercase s level is fine because every incremental step helps.
[00:31:27] Jon Landis: For sure. So one, I guess, sort of final theme is also that I wanted to focus on was just kind of getting your perspective on the CPG end of the food category in particular. You've mentioned a couple of things, you know, about the trade shows and the noise. I'm just curious what sort of stuff that's out there right now excites you personally, not speaking on behalf of what a Food Future Co. may or may not be looking for, but are there things in particular that excite you or I guess on the other side make you nervous?
[00:32:01] Managing Director: Well, I think I counted one time, and I'm, you know, including the couple of expos that I went to before I launched Plum, and I skipped a couple of Easts in the middle. I'm up to like 21. So, you know, in that time, I'm certainly not amongst the people that were there in Anaheim with card tables, because there are people. Right.
[00:32:26] Jon Landis: I love seeing those pictures, by the way.
[00:32:28] Managing Director: Right.
[00:32:28] Jon Landis: Funny stuff. It's come a long way.
[00:32:29] Managing Director: Exactly. You know, there is a lot of me too, certainly. So what Shen likes to say, if you can anticipate innovation, it's not true innovation. So there's sort of two aspects to it. I feel one is the ability for a company that maybe started in one area, but then to really understand what it is that they're about and then use that to springboard into new products. So Dang, I think, is a great example of that, where, you know, the coconut chip, I mean, okay, it's great.
[00:33:11] Jon Landis: They're pretty tasty, at least the chocolate ones.
[00:33:13] Managing Director: Yeah, they're pretty tasty. But, you know, it's a coconut chip. And, you know, the story is a fun story. It's an authentic story. But then at the time, like when they first launched, you sort of go, okay, where are they going to go with that? And then they did the onion thing. I don't know how successful that was, but it was great to see at the most recent show how they did the sticky rice cakes. And that felt authentic to who they were and where they can go. So for me, because my background is in agency and I'm a brand person, when I saw that, I got it immediately. And I was like, all right, they did some really deep thinking here and they figured out what they're about. So I think to your earlier point about pivot, you can start in one place and if part of your journey is understanding what it is you stand for, that's fine. But you need to figure it out because if you don't figure it out, you're going to lose the consumers, you're going to lose your audience, and you're not really going to be able to capture the opportunity that you might have had. So I think that's extensions and companies that have sort of figured out how to break through in an authentic way is one thing that I really look for. Another example is, again, kind of coming from a mission perspective, people who are innovating and kind of extending a category, but not so different that it takes too much thought on the consumer's part, right? I mean, the Cold Brew coffee is a great example of that. And a lot of it is about utility. A lot of it is about different attributes that maybe consumers are looking for. But, you know, hands down, my favorite company that I saw from Expo West is a company called Wise Monkey.
[00:35:06] Jon Landis: Okay, sure.
[00:35:07] Managing Director: Have you did you guys? Yeah. So it's the coffee leaf tea. And that when you see it, again, just from a sustainability community mission standpoint, but also from a brand perspective, they're not asking you to stretch too far in understanding what it is. So those kinds of companies really resonate with me.
[00:35:32] Jon Landis: And I guess it helps in both cases when you have products that taste good too, right?
[00:35:36] Managing Director: Absolutely.
[00:35:37] Jon Landis: So I guess one question that our listeners will probably have after hearing this is, you know, when and how do they get in touch with you and Food Future Co.?
[00:35:47] Managing Director: Sure. So as it happens, we just opened our call for companies for cohort three, and we'll be recruiting and looking at companies in the next couple of months. So if there's any companies out there listening and want to apply for consideration, you can send an email to info Food Future.co or on our website, there is a button for apply.
[00:36:15] Jon Landis: And I assume all the info on requirements and what they should send are on the website as well.
[00:36:20] Managing Director: Yes, they are.
[00:36:21] Jon Landis: Awesome. Well, hey, I've taken up, I think more than enough of your time here. I really appreciate just your time and sitting down. I think there's a lot of, a lot of great lessons here for the entrepreneurs that listen to our podcast. So I just want to thank you for making time for me.
[00:36:36] Managing Director: Of course. Thank you for having me.
[00:36:38] Ray Latif: Thanks. One of the first things that Gigi said was something that really resonated with me and I think is really important for people to hear, which is if you don't know something, ask. If you have a question about something, ask. Even if it's a dumb question, I think she mentioned this, it's fine to ask because that's the only way you're going to get the answer. And I think there's so many people who are afraid to look like they are just not knowledgeable about something or feel like they should know something and they just don't. And the only way you're really going to figure it out is if someone tells you the answer in some cases, in most cases. So I think that's a really good lesson for entrepreneurs is, and we tell people all the time, if you have a question about anything, you want to know something or know someone in this industry, reach out to us at BevNET and we'll do our best to answer that question to help you out.
[00:37:30] Gigi Lee: I have a, I have an issue with the phrase dumb question though, because simple questions are simple questions are like, you know, how do I find a copacker? Like, I don't understand, but like a dumb question is like, where's the closest Dunkin Donuts? Like, you know, just Google it, you know, there's a very good point, but I do feel like sometimes folks need to exhaust the options that are available to them a little bit. And then once you get there, then you ask questions.
[00:37:58] Jon Landis: I think I think there's also, you know, a side to it about just being prepared when you are accessing people in this great network that exists in the food and beverage industry. You know, everyone has sort of different... backgrounds and areas of expertise. And I think that's something that a lot of entrepreneurs, they don't they don't totally realize it. And they haven't been in this space before. And realistically, there are probably few things that most food and beverage startups, you know, stumble on that someone out there hasn't gone through before. So I think it is just sort of you know, stopping and thinking and asking the right questions sometimes.
[00:38:41] Ray Latif: And you're going to run into these people, you know, at conferences, you're going to run into them at shows. And you're right, I think there has to be a little bit of level of preparation when you ask them a question about how to be as successful as they may have been. And that's actually, you know, kind of the purpose of a new segment that we're doing on social media. that Mike Schneider has helmed called Elevator Talk. And it's a way for folks to get acclimated and acquainted with some of the emerging beverage brands that are out there. And food brands. And food brands as well. And these are folks that are often in the same shoes as many of the young entrepreneurs that are listening right now, and you can learn from them, and we can learn from them, and everyone can learn in this great community that we have. But now I'm kind of like rambling, and I'm talking about what Elevator Talk is, and- Well, you got to let Mike introduce you. I got to let Mike talk about exactly what it is and what we're trying to do here.
[00:39:34] John Craven: Hey Landis, that Dunkin' Donuts is actually out on Washington Street. And I don't know why you'd want to go there when I've been pulling Cortados like they're going out of style, but I'm just going to take offense to that. Okay.
[00:39:46] Jon Landis: We have enough Cold Brew here to like drown the whole office.
[00:39:48] John Craven: I know. Right.
[00:39:49] Jon Landis: We've got, speaking of Cold Brew, that'd be a great way to go out by the way, drowning in Cold Brew. But right.
[00:39:55] John Craven: One of our first Elevator Talk segments was with one of the founders from Rise Coffee. The idea for Elevator Talk was to look at how do we use Instagram stories. People seem to be interested in our Instagram stories to further the communication that we have with entrepreneurs or further the conversation that we're having with entrepreneurs. And we came up with this idea for Elevator Talk, which is what if you're about to get in the elevator with your dream business partner, you've got like 45 seconds to talk to him. So we came up with a little framework for that. You know, the questions are, Who are you and what does your company do? And you've got to answer it in 15 seconds. And then you, you know, the next question's about what's coming up that's really cool for your business. And then we ask a question about what else you've been geeking out on besides your business to kind of give you a chance to say, hey, you know, I'm, I'm more than just my business and, and see what happens. And the first one that we did was with Jarrett from Rise Coffee. Let's take a listen. Check out these ingredients. Entrepreneurs, Instagram, a podcast, and an elevator. Imagine you just hopped on an elevator with your dream business partner, and the ride's going to be short, they don't know you, so you're going to have to get right to the point. Because once you get to the top floor, that person's vapor. You know, once you get to that destination, they're gone. So we have created this idea, Elevator Talk, that allows you, as an entrepreneur, to answer three questions that you can use in that elevator ride. What's your name and what does your company do? 15 seconds, go.
[00:41:24] Food Future: I'Meet Jarret McGovern from Rise Brewing Company. We are a nitro-infused, cold-brewed coffee company. We cold-brew organic fair trade beans from Peru and then we infuse them with nitrogen to create a latte experience without cream, calories, chemicals, or sugar.
[00:41:39] John Craven: Is there anything coming up that you're excited about?
[00:41:41] Food Future: This summer, we're really excited to be launching two new flavors. One is a nitro lemonade with coffee, and then the second one is a nitro matcha latte with organic coconut milk.
[00:41:54] John Craven: What have you been geeking out on besides your brand? Quick, 15 seconds, you're getting to that floor.
[00:41:58] Food Future: I'd say industry-wise, I'm excited about all the different companies right now that are using Cold Brew as an ingredient and a flavor to complement their products. Whether it's beer, whether it's juices, whether it's kombucha, Cold Brew lends itself to be combined with a lot of different flavors.
[00:42:19] Ray Latif: Jared's one of those guys who is so calm and so cool and so collected, you would never guess that he runs a high-test coffee company. He's just a really nice guy and he comes across as someone who isn't really trying to sell you. He doesn't have to, you know, the coffee just tastes so good. He's as smooth as his brand, right?
[00:42:39] John Craven: He is on brand. His coffee is on brand. He's on brand.
[00:42:43] Jon Landis: Yeah. Well, he also, I guess, got a sale out of it since we came back and bought a keg of his coffee. for the office, which is, I guess, just a testament to the fact that we too, just being fans of this stuff, obviously we'll buy it if it's good.
[00:43:02] Ray Latif: So yeah, it's interesting. These guys came on my radar, I think earlier this year, like in January or something like that, and they've really come on strong. I feel like there's been a lot more, maybe just on our side, a lot more interest in and talk about that brand. And it'll be kind of cool to see where they go for the rest of the year and then in the years to come.
[00:43:19] Jon Landis: Well, they've got a little kind of grassroots thing going in New York. And I guess they're trying to, you know, expand that up into Boston soon too. So it's certainly a regional play, which is different than some of the more national things that we talk about. It is pretty neat to see an entrepreneur like that, that, like you said, is so calm and cool, but also so passionate about what they're doing.
[00:43:44] Ray Latif: So, yeah. And for all those entrepreneurs who are just as passionate as Jared, you know, it's probably a good idea for you to come to BevNET Live and Nosh Live and Rebound Session. Right, Jon Landis? Is that my cue? Oh, yes.
[00:43:55] Gigi Lee: That's your cue.
[00:43:56] Ray Latif: Go. I'm looking at you.
[00:43:57] Gigi Lee: Yeah. Yeah. And actually, if you're a smaller beverage brand or food brand, our food pitch competitions, New Beverage Showdown and the Pitch Slam The deadlines on those applications are coming up really quick and we have a lot to choose from, but don't let that dissuade you. We want the best of the best. So if you're out there and you're listening and you're into this community and the content and the events and everything that we're doing, give us a call, reach out. We really want to know that you're out there and you're listening and we'd love to have you come join us in person at one of our events and maybe even get up on stage and pitch everybody.
[00:44:33] Ray Latif: Yeah, we've had some very successful brands get up on that stage in the New Bedford Showdown competition. HealthAid is probably the first one that comes to mind. Cocoa Cafe, Monfifo, which is a great little shot brand in New York. I won in New York last year. Tio, Grady's. Tio Vespaccio, Grady's Cold Brew. These are all, Owl's Brew. Owl's Brew. Really, really great successful brands at this point. Motto's still kicking. Yeah. Motto's still, Motto's great stuff.
[00:44:57] Jon Landis: The list goes on when we've had, we're on number 13 now, right? Lucky number 13, yeah. Well, for New Barrett Showdown at least. I mean, I think all I would just say too is it's also, I don't know what is that sort of cliche. It's not whether you win or lose or something like that. But I think it is an opportunity for brands to really get their name out there and entrepreneurs to get their name out there. I think a lot of the entrepreneurial experience in this industry, and it probably is the case in others, But, you know, the industry is kind of evaluating the person behind this thing or behind your company to not just more so than the brand itself. I mean, that's something that is pretty hard to, I think for a lot of entrepreneurs to, to do, but it's not only in a pitch competition, it's at trade shows, it's at conferences, it's everywhere.
[00:45:47] Gigi Lee: Like, you know, as an entrepreneur or brand owner, you got to understand that people are looking at your product and then they're looking at you and they're taking a long, hard look at you and they just take a glance at your product.
[00:45:58] Jon Landis: And I guess in this case, we're, uh, we're making the long, hard look at you a lot more or a lot easier since you're the guy on or gal up on stage and our whole audience is looking at you.
[00:46:10] Gigi Lee: So I'll say to the brand owners out there, it's, you know, there's no rest in the networking game. It's gotta just get goes on as long as you're running this company and you're never going to outsource it. That's all you're really responsible for, and that's what we're offering. So hopefully we'll see a lot of you there.
[00:46:29] Ray Latif: And it's a chance to see Jon Landis' new look. He's got the Steven Seagal ponytail going. I wish everyone could see it, but maybe you'll see it at Bevanette Live or not.
[00:46:38] Gigi Lee: You're not allowed to break any hands.
[00:46:40] Ray Latif: Just don't break my arm off.
[00:46:41] Gigi Lee: Don't be breaking hands. Just don't come at me with a gun. Don't come out of a coma and start housing people, okay? Don't come to a Steven Seagal fight with a gun.
[00:46:49] Jon Landis: Steven Seagal, he puts his gun down if he has one. Yeah, exactly.
[00:46:54] Ray Latif: And he'll impale you with a pool cue. Hard to kill. That's the end of this podcast. I hope you all liked it. It's fun having these shows, and we really like doing them. We really hope you guys like listening to them. So if you have any questions, comments, concerns, ideas Food Future podcasts, please send them to podcast.webnet.com. Extra special thanks to Mike Schneider for joining us here on this edition. Hopefully you can join us on more editions.
[00:47:19] John Craven: You bet. Can't wait. All right. See you guys later.
