[00:00:10] Ray Latif: Hey folks, I'm Ray Latif and you're listening to the number one podcast for the food and beverage industry, Taste Radio. This episode features an interview with Bill Glaser, the co-founder and CEO of Outstanding Foods, a brand of nostalgia-inspired plant-based snacks. Just a reminder to our listeners, if you like what you hear on Taste Radio, please share the podcast with friends and colleagues. And of course, we would love it if you could review us on the Apple Podcasts app or your listening platform of choice. Founded on the belief that mindful eating shouldn't mean sacrificing on taste or texture, Outstanding Foods markets plant-based salty snacks that are based on quintessential favorites, including cheese balls, puffs, and pork rinds. Developed by cereal entrepreneur Bill Glaser and chef Dave Anderson, who previously led R&D at Beyond Meat, Outstanding Foods' snacks are vegan, gluten-free, and made with non-GMO ingredients and plant-based protein. The brand also touts its cheese balls as the first salty snack to have a good source of 20 vitamins and minerals. The company has attracted $15 million in funding over the past two years, and its investor roster includes celebrities Snoop Dogg, Rob Dyrdek and Cesar Milan. The capital has helped Outstanding Foods expand distribution nationwide to thousands of retail stores, including those of Whole Foods, Walmart, Costco, Safeway, and 7-Eleven. In the following interview, I spoke with Bill about how he has applied lessons from prior entrepreneurial ventures to Outstanding Foods, how the company has assessed its capital needs, and how celebrity partners are involved in the marketing and promotion of the brand. He also discussed the evolution of Outstanding Foods' package design, along with its innovation roadmap and alignment with the company's retail and marketing strategies. Hey folks, it's Ray with Taste Radio. Right now I'm in Philadelphia for Expo East 2022, and sitting in front of me right now is Bill Glaser, who is the co-founder and CEO of Outstanding Foods. Bill, how are you? I'm outstanding. Thanks, Ray. Of course you are. Wearing the t-shirt and all. It's a purple t-shirt that says Outstanding Foods on the front, and I'm sure you get a lot of compliments on that because it's a heck of a brand name.
[00:02:37] Bill Glaser: Well, you know, when you name your company Outstanding Foods, you have to stand out, right? So we use colors that are bright and vibrant and warm. But the most important thing is that Natural Products stand out and taste great, that people love to eat them and get the nutrition their body needs, but without having to make a sacrifice.
[00:02:56] Ray Latif: Absolutely. I was perusing Instagram and looking at the Outstanding Foods account and then your account as well. It's great to see some of the images that you've taken over the years, including those of your daughter and your time with your daughter. When I looked at your bio, the first thing that comes up is not CEO, it's not founder, it's not entrepreneur, it's Dada. And then it says CEO Outstanding Foods. I take that to mean that you have a work-life balance that's more life than work. Am I right about that?
[00:03:25] Bill Glaser: Well, I think work-life balance is something that is always fluid, right? Like, I think a lot of people have an expectation that you have a certain amount of time on one, a certain amount of time on the other, but the reality is that you go with your priorities, right? And so we all, if we have families, you know, our families typically are our number one priority. For me, that's my daughter and, and she's always been number one. And my company is my other baby where I We're mission-driven. We want to make it easy for people to eat healthier, more plant-based foods without making a sacrifice because they taste great and have the nutrients their body needs. And so I am constantly managing where my attention goes, and it goes based on my priorities. And so my daughter is always going to come first. And so when I come home every day, I have dinner with her. I play games with her. We do a nighttime routine. And my work is off the table, and I come back to it at night. a matter of understanding what your priorities are and managing your time accordingly.
[00:04:24] Ray Latif: That's a really great way of putting it. And I think I feel the same way. I mean, like, especially during the pandemic, of all the terrible things about the pandemic, you know, that was one of the good things that happened, you know, being able to spend more time with your family. However, work never ended and it keeps going and it's still going. And I think about being a food entrepreneur and how hectic and crazy that might be, but you've had a lot of experience as an entrepreneur. This is not your first rodeo. It might be your first rodeo in food. Is that right? That is right. Yeah. Talk about some of your past businesses and I guess how you got into this space.
[00:04:55] Bill Glaser: Yeah, well, I've been an entrepreneur most of my life. Even when I was a kid, I was the kid that had the lemonade stand. My father was in advertising. He would often bring home samples of products he was advertising, and I would take them to school and sell them. And so I've had different companies in the past. I had a multimedia company, I had a finance company, I had a nutraceutical company, and I've had a couple of good successes. But Outstanding Foods is my true passion business. And so I've personally been plant-based for over 32 years, way before it was cool. And so I've had the intention of doing a company that can take plant-based and make it accessible to anyone, both in the Taste Radio also the branding and the relatability. And so for me to pull that off, I needed a co-founder that had the ability to formulate products, because trust me, you wouldn't want to eat what I cook or prepare. And I was fortunate enough and lucky enough to co-found Outstanding Foods with Chef Dave Anderson, who is an iconic figure in the plant-based world. I knew him from a restaurant he had several years ago, where he was doing super innovative things that most people still aren't doing. But he then went on to co-found Hampton Creek, which became Just, the maker of Just Egg. And he led R&D at Beyond Meat for close to five years.
[00:06:09] Ray Latif: Sounds like you found the right partner. The most outstanding partner. You mentioned you were in finance, nutraceuticals. These are, these are, I would think, businesses that are very different than the packaged food business. But in what ways, if any, did those experiences help you and prepare you for this, this new role?
[00:06:26] Bill Glaser: Yeah, I think if you're an entrepreneur and you develop skills being an entrepreneur, you could apply those to just about every industry. You have to learn the basics of the industry. You have to learn how it functions and who the players are. And in food in particular, there are brokers and sales reps and distributors. And so all of that was an education for me when I came in. But the biggest skill of an entrepreneur, and it's to your point about adapting during the pandemic to spend time with your daughter and how we all had to adapt and we're still adapting to so many changes that are constantly evolving. And any entrepreneur on any journey, you have to adapt and you have to be able to make decisions and navigate. And so those are the skills that I developed being an entrepreneur. And I love challenges and I love having to figure out those challenges. And so no better time than to have a bunch of challenges is during a pandemic as a food company. So it's been an exciting journey during that time.
[00:07:25] Ray Latif: Yeah, I get the sense that you are very much a front facing person when it comes to your brands and when it comes to your businesses. front and center and leading the charge in a very public way. I think that can be kind of scary for some entrepreneurs and they're just not necessarily prepared for that role, even though it is a role that nearly everyone has to have at some point in their journey. How have you become comfortable with being and having that public persona?
[00:07:50] Bill Glaser: Yeah, I think for any entrepreneur these days, consumers don't want to just buy a product. They want to buy a product from a brand that they relate to, including the founders and the people on a team and how socially conscious they are and how aware they are. And so those are all elements. So I think it's important for any founder, any entrepreneur, to be out in front and to be the personality, whatever kind of personality someone might have. And so for me, that wasn't something I was always comfortable doing. I used to be a very shy kid and was actually agoraphobic. I was afraid of being in public environments. And so it was like anything else where you're adapting and learning and changing habits and overcoming. certain experiences, I consciously became aware that I was so withdrawn and shy and made it a priority to overcome that. And so the only way you overcome things you're afraid of is by doing them. And so I put myself in positions where I was in crowds, where I was speaking in front of other people, and I wasn't as comfortable as I've become. And I'm still evolving in that comfortability. But just doing the things you're uncomfortable with is always going to be how you overcome and how you get better at anything.
[00:09:02] Ray Latif: Yeah, I think you're absolutely right. You know, there was a time when I never wanted to be in front of the camera, never wanted to be behind the microphone doing any of that stuff. I mean, but my time at BebNet has changed me in a way that I've become a very public face. for the company, for the organization. Going back to, you know, the challenges of the food business, you know, coming into this industry, I think a lot of people just aren't aware of all the things that can knock you down, that can trip you up. What are some of the things that you've encountered in your first few years in this business that could have been really, really bad for the company, that could have put the company out of business and how'd you get over them?
[00:09:42] Bill Glaser: Yeah. Well, we had many and I think that's, you know, the journey of any company during any period of time. But I think most things were amplified during the last two and a half years in terms of challenges. So we had one where we had a manufacturer that we had a very innovative product that required an innovative manufacturing process. And just like a recipe, if it's not followed, you get a different outcome, a different product. And we had a bunch of product that we couldn't sell, literally truckloads. And so for us to move that to another manufacturer, we would have had to replicate the equipment modifications that we made. It would have taken us a long time. And so what we ended up doing was we pivoted to a different product and we moved at a pace that a lot of people in our company weren't used to. And they came from the food industry and no Bill, things don't work this way. That's not a timing that can work. And we pushed and we were able to deliver a new and a super innovative product in record time that allowed us to overcome the challenges we were having with a manufacturer by bringing out a new and exciting product. Those are the cheese balls. No, the first product that we launched, we called it Pig Out Pigless Pork Rinds. We've since rebranded where everything leads with Outstanding Foods so they're now called Outstanding Pig Out Crunchies. And so that was during a time when we launched that. And it was right before the pandemic hit in February 2020. But after suffering many challenges with a prior product we had on the market in 2019.
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[00:12:02] Ray Latif: It certainly helps if you're well capitalized or if you have enough capital to overcome those issues. And I do want to talk about the sort of reframing and restaging of the brand. But let's back up for a second. You know, you talked about the vision for Outstanding Foods and your desire for people to eat healthier through plant-based eating. The snacking component of that, is sometimes met with skepticism among mainstream consumers. I think natural consumers are very much interested in better-for-you snacking. But when you're talking about plant-based pork rinds, I think the average consumer might wonder a bit about that. I guess, who was the initial consumer, the target consumer for Outstanding Foods, and how has that evolved, if it has at all?
[00:12:45] Bill Glaser: from day one and our audience and our targets are still the same. We're targeting mainstream consumers, primarily millennials and Gen Z, although we have children younger than Gen Z and we have adults older than millennials that love Natural Products. But that market is snacking more. They're seeking more healthy alternatives. And at the end of the day, if you give them a product that is plant based, that has nutrients, that isn't enough unless it tastes great. Because if it's something that people are open to, most people are open to eating more nutritious foods, eating foods that might reduce some of the ingredients that might be harmful for them. But if they have to do it where they have to force themselves to put it into their mouth and in their body because it doesn't taste as great, they're usually not going to stick with it. So we're very focused on leading with great taste that anyone can enjoy Natural Products. And by the way, get the benefits of it being plant-based, get the benefits of the nutrition that we add into the products.
[00:13:47] Ray Latif: Are you finding that you're reaching those mainstream consumers more easily than you had when you launched?
[00:13:51] Bill Glaser: Well, I think the market has changed dramatically. When we launched, we were using direct-to-consumer marketing as the initial focus of our marketing efforts. And we were unusual as a food brand doing that in early 2020. Most food brands didn't sell their products direct-to-consumer. They sold them only at retail stores. And so we leveraged a number of celebrity investors that we have Snoop Dogg, Rob Dyrdek and many others, and we use them in our ads. And so we created this massive buzz where people were, were trying Natural Products. They were seeing people having reaction videos and being blown away. And then the product lived up to the promise when people got the product after they saw our ads and bought it online. They, many people would come back to our ads and write in the comments that I didn't believe a plant-based version could taste as good as this does. This, this blew me away. This was even better than I ever imagined. And so you have to have a, you can't just have a good marketing. You have to have a product that lives up to the promise. And that's what we saw with our product. And so at that time we were selling primarily direct to consumer. That market has changed dramatically where we're now leaning much more into retail distribution, where we have many thousand doors that we Natural Products in.
[00:15:03] Ray Latif: Are you mostly sold in the natural channel at this point or is it a good mix of conventional and a natural?
[00:15:09] Bill Glaser: There's a good mix of both. So we're in many of the typical natural markets and we're also in a lot of the conventionals in the Walmarts and the Kroger's and we got into our first Costco region and others.
[00:15:20] Ray Latif: You know, it's really helpful when you are selling, I guess, a novel or innovative type of product when you have great packaging. Outstanding Foods has gone through, I want to say, two or three iterations of its packaging. Is that accurate?
[00:15:33] Bill Glaser: We've gone through one major rebrand and a number of tweaks along the way.
[00:15:38] Ray Latif: Okay. What have you learned about how consumers perceive your brand and how have you incorporated those learnings into the new packaging?
[00:15:45] Bill Glaser: Well, we're a brand that listens to our customers. We listen to them about everything. We listen, whether it's the taste, whether it's where it's sold or the packaging or the marketing or the messaging. And we are very mindful of listening to feedback. We're also mindful not to blow in the wind because everyone has opinions and you can't just take everyone's opinions and accommodate everyone. So we pay attention, we keep our finger on the pulse of our consumers, and when we see something that's a consensus, and we listen to retailers as well, then we're open to making those changes. And so we heard feedback that our packaging for some was a little confusing. We also saw that by calling something pigless pork rinds, we were in the pork rind category, where we did very well. We were number one on Amazon for a period of time in the pork rind category as the only plant-based product in that category. And we were selling well on shelf, but next to pork rinds. So we wanted to get our product into a more broader market and get our data sets consistent as well. And so removing pork rinds from the packaging was one of the aspects of the rebrand, but we wanted to clean it up and we wanted everything to ladder up to the name Outstanding because nothing is more outstanding than outstanding.
[00:17:02] Ray Latif: Yeah, and I think that was the, I guess, most eye-opening part of the new look is that you've really gone big in so many ways with the brand in terms of the label hierarchy. Do you want people to know Outstanding Foods as a platform brand that sells a lot of different snacks? Are your pigless pork rinds your number one seller? Are you leading with that snack as the sort of gateway to the rest of your products?
[00:17:27] Bill Glaser: So that was the first product we launched, which is now again called Outstanding Pig Out Crunchies. And so we have wider distribution based on the time that's been on the market. And that product has been super well received. People love it. We've expanded our distribution regularly with that product. We're really excited about our latest snack, which is our outstanding cheese balls. They're the first ever dairy-free cheese ball. They taste just like the OG cheese ball that most of us grew up with, a very nostalgic snack. And what we're finding and what we anticipated was that people are seeking out dairy-free options for different reasons than they seek out plant-based. Most people are lactose intolerant and cheese is one of those things that people have a hard time letting go of because it tastes so great and there really aren't great plant-based alternatives. So what we've gotten in terms of feedback on this outstanding cheese ball product is that people love it just as much as the traditional, and of course love that it's plant-based, has no dairy, and also has high amount of protein and nutrients.
[00:18:27] Ray Latif: Earlier, you'd mentioned that you can't listen to everyone's opinion when it comes to packaging or your innovation strategy, but whose opinions matter most? And I ask because a lot of times I hear from entrepreneurs that retailers will specifically ask for new products. They'll specifically ask for a type of innovation. Was that the case with the expansion of the line into cheese puffs and cheese balls?
[00:18:49] Bill Glaser: No, it was really from our own internal perspective and research and seeing where there was an opportunity in the market. But we listened to retailers. And what we also are mindful of is anytime you're doing something innovative and that hasn't been done before, people tend to look at it through the lens of what their experience is. Just a few years ago, if you saw a plant-based brand, they all looked very similar. They all had green and were very earthy looking, and they reminded you of plants. And that was the way that a lot of plant-based brands positioned themselves to appeal to people who were vegan or vegetarian or had that inclination. And now you're seeing plant-based brands, from a branding standpoint and a positioning standpoint, being much more out there in their branding, much more modern, much more current to stand out as we are doing. Three years ago or so, if you were a buyer in a retail store and you saw this bright, vibrant packaging for a plant-based brand, it might've looked unfamiliar or that it wouldn't be appropriate. But of course, with any type of innovation, once it's on the market, then People are open to new perspectives and a lot of retailers have seen that not only with products but the way they're packaged and branded. You can't look at it through the lens of the past. You have to look at it through the lens of the now and the future.
[00:20:08] Ray Latif: When you are thinking about innovation and your innovation roadmap, are you innovating to specific retail channels? For example, if you say, OK, well, you know, the pigless pork rinds do really well in natural, but we need something to do well in club or convenience. I mean, do you think about innovation in that sort of specific way?
[00:20:27] Bill Glaser: We look at Natural Products as being products that could be selling in any channel, in any category. So we don't isolate them specifically for a specific market. But to answer your question before, we from day one expected to be a platform food brand and not just a brand operating in snacks. So we now have three snack foods on the markets, the outstanding pig out crunchies, the outstanding cheese balls and our Outstanding Foods, which are also great tasting, high in protein and nutrients. And with three snacks, we don't want to continue to come out with new snack food products because then we're cannibalizing our own shelf space in that category. We're planning to come out with other products that are in different categories and ultimately where we can supply products that consumers can rely and trust that they're going to get these great tasting products from morning through night. And so we have a cookie that is our next product that's in an adjacent category that tastes like a grandma's cookie, but has all the nutrients and protein of a nutritional cookie. Outstanding. When is that launch? That one is going to be launching expected later this year in direct-to-consumer and in the first quarter in retail.
[00:21:33] Ray Latif: Cool. So I assume there's going to be a big push at Expo East 2023?
[00:21:38] Bill Glaser: Yes, you're going to be seeing a lot about that and you're going to be eating a lot of the Outstanding Foods.
[00:21:43] Ray Latif: Fantastic. We had talked about your investors. You mentioned a few celebrity investors and Outstanding Foods has raised a significant amount of capital to date. How have you assessed your capital needs for this brand and not just your capital needs for the present, but what you need to keep this brand going and vibrant and exciting in the years to come?
[00:22:06] Bill Glaser: I think like any startup company, you want to have enough cash that if things don't go the way you're expecting, which are inevitable, and we've certainly had our share of challenges. The one with the co-packer that I mentioned was a primary one. But you always want to have more cash than you need. to ride out any of the challenges and any market challenges as well. There's been plenty of supply chain and market challenges and retailers as a new brand focused on restocking their shelves early during COVID, having even big brands not being able to fulfill orders because the supply chain channels are more reluctant to take on a newer brand. So as a new brand, you have to be well-funded to adapt to those ever-changing circumstances. And then you have to figure out if your needs change whether you go to the market again and raise additional capital, which we've done.
[00:22:56] Ray Latif: Yeah, you know, it's interesting to me because when I think about brands, food brands, your size, and I guess history, I see a lot of them struggling to raise money. And it seems like Outstanding Foods has done a pretty good job of being able to raise capital and raise it on a regular basis. What has made raising capital, and correct me if I'm wrong, but what has made raising capital relatively, I assume, relatively easy for you guys? And I say that, but, you know, maybe it was really tough. I don't know.
[00:23:28] Bill Glaser: Yeah, I would say raising capital is never easy, but it can be easier based on a number of factors. So my co-founder and I both have pedigrees. My co-founder has been at $2 billion startups in the plant-based sector. I've had two nine-figure exits as an entrepreneur. And so investors are always betting on the jockeys, right? So we're eating our hay as the horses, and we've been there, done that, so that inspires confidence. The other thing is that people always want to believe in what the innovation, what the new products are, and how a company is adapting to the market climate. Because for most entrepreneurs, they have a big vision and big hopes, but when challenges hit, they get overcome by those challenges. So I think we've inspired confidence by our ability to adapt to challenges, not just grow the business, but our ability to adapt to challenges, which fuels confidence with investors because they know, hey, if things are getting challenging or difficult, these guys know what to do, or at least they're adept at trying to figure these things out. And so I think those things have helped us on our journey, where we haven't shied away from communicating to people, investors in particular, always respect honest and direct communication. And a lot of times, just in life, people avoid having tough conversations and avoid speaking about things they think might create a conflict. We've always expressed to our investors, not only the good things, but the challenges that we face and how we're approaching those challenges. And I think all of those things inspire confidence.
[00:25:01] Ray Latif: Is that the same approach to working with and raising money from celebrities and well-known individuals?
[00:25:07] Bill Glaser: Yes, I think anyone has usually the same type of criteria. They want to know what the business is, what the products are, what the opportunity is. They want to know who the founders and the team are and what their experience is and what their ability to take that idea and turn it into a business. And they want to know where that business fits into the market and what's unique and differentiated about it. And so a lot of our celebrity investors, and we have about 35 or so of them, I didn't know before we started this journey. I had some relationships with people that are our investors, and I had relationships with people that knew some of our celebrity investors, but for most of those, they were new relationships that I developed during the process of raising capital. Those elements that I mentioned are the things that any investor wants to see, and we inspired confidence that we're the right team, we have the right products, we have the right plan, and we're going to adapt to any circumstance, any challenge, and we're not afraid to run away from challenges. We're going to face them, and we're going to deal with them, and that produces buy-in on investors, and persistence, too. We got a lot of nos along the way. We didn't let the nos deter us. We just persisted until we got the yeses.
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[00:27:07] Ray Latif: How impactful is it to have celebrities as part of the company, as equity partners? You know, when I read press releases or news articles about Outstanding Foods, inevitably I do hear about the 35 or so celebrity investors that are part of the company. But how impactful has that been in the development of Outstanding Foods?
[00:27:26] Bill Glaser: I think it's been impactful on two primary levels. One is that we're in the era of influencer marketing, and influencer marketing is expensive and has gotten much, much more expensive over the last couple of years. So for a lot of brands, if you're paying for your influencer relationships, then you have a much more risky proposition of getting the right return on that. And whether you're finding someone who is authentic for your brand, because consumers are very sophisticated. They know when a personality is just selling a product because they're getting paid or whether they really believe in it. And so when someone writes a check and actually invests, then inherently they're authentic about it because they believe in a company so much that they're investing, not just getting paid. So that's been very valuable because their credibility is apparent to consumers that hear them promoting Natural Products. And the other is that we've been able to use them in our ads. And they've created a lot of organic content for us, but we've used them in ads that have been wildly successful. Snoop, we did some really fun content with. And people loved it. And so that gave us more of an edge where we didn't have to pay millions of dollars or even several hundred thousand dollars like a lot of brands have to do for the same thing.
[00:28:39] Ray Latif: Bill, this has been an outstanding conversation. I do have one more question related to where we are here at Expo East. I spoke with a lot of folks yesterday and they were asking me if they thought that having a booth here was worth the money or, you know, and I get that question a lot at trade shows. How do you think about ROI when it comes to trade shows? What are you looking to get out of a show like this? And how do you measure the return on investment when you do have a booth at a trade show like Expo East?
[00:29:11] Bill Glaser: I think trade shows, you're buying time and you're buying the opportunity to be in a location where you can meet with multiple buyers at the same time. If you were to try to replicate that without attending a trade show, it's going to cost you a lot of time. Your sales team or your founders are going to be making a lot more calls, trying to develop relationships. There's no better way to develop a relationship than in person. And especially after the last two years where we didn't have those opportunities. And so the expense of the booth of travel is the trade off is you're saving so much time by getting in front of people, but getting in front of people where you can form real connections rather than just on the phone where you're just another voice or even. virtual video in a box. And so the opportunity to form those connections where people can try your product and you don't have to send them is an expense, but it's an expense that you're buying back more time. How do you get them to come to your booth though? Well, you have great PR firm that we do and they're out there hustling and our sales team is leading the charge. The sales team is contacting all of the buyers that we want to meet and setting up appointments and meetings and contacting many of them to drive them to our booth. And then, of course, the most important thing is having products that people want to try. Dairy-free cheese balls that we call outstanding cheese balls are something we've gotten a lot of buzz about. People love the product and people want to try it. So we know buyers want to come to our booth and try our product and Natural Products. So it's a lot of work before to prep to get people to show up and then having the product that people want to come in and actually sample.
[00:30:55] Ray Latif: Yeah, it's not just having a booth. It's not just showing up. There's a lot of work that goes into that happens before you get to the event, for sure.
[00:31:03] Bill Glaser: A lot before, and like anything, you can't be passive when people are walking by. You have to pull, not just wait, right? If anyone, you know, wanted to just wait for business to show up, they'd, in most cases, be waiting a long time. So you have to pull people in, but then have a product that delivers the promise that they're going to be glad that they made the effort and stopped and spent their time and tried it.
[00:31:24] Ray Latif: Yeah. Bill, once again, thank you so much for taking the time to be with me today. This has been a fantastic conversation. I know our audience is going to love it, and I hope you have an Outstanding Foods of the expo.
[00:31:35] Bill Glaser: Outstanding, Ray. I appreciate you being on brand, and it's been awesome to speak to you. It's been Outstanding Foods speak to you, so thank you so much.
[00:31:42] Ray Latif: Thank you. That brings us to the end of this episode of Taste Radio. Thank you so much for listening, and thanks to our guest, Bill Glaser. Our audio engineer for Taste Radio is Joe Cracci. Our technical director is Joshua Pratt, and our video editor is Ryan Galang. As always, for questions, comments, ideas for future podcasts, please send us an email to askatasteradio.com. On behalf of the entire Taste Radio team, thank you for listening, and we'll talk to you next time.
