Startup Confidential

It can be very tempting to look at your balance sheet or cash flow and then pick only tactics you can afford based on your present snapshot. The problem with this is not your financial responsibility. The problem is that you can’t compete effectively and grow rapidly until you prioritize competitive strategy first and then determine the relevant playbook you can afford. I promise you that you won’t end up with the same playbook, even if it costs the same. Have a listen and see what you think.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Scaling a consumer-packaged goods brand via the DTC channel is more or less dead to all but the super-wealthy founder. It's important to note that the much larger, adjacent online grocery space is also declining. I explain why the dream is over for scaling into the eight figures online in CPG. And how you should think about both 3P online and the DTC channels moving forward. You don't want to miss this episode.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

The perils of the first $500,000 in recurring sales are many. Most are related to cash flow and getting paid by distributors or retailers. Without the proper seed monies, many companies evaporate despite the power of their innovation. In this episode, I'm updating the episode that launched this tough love podcast. There is less space on shelves than ever before, slotting fees have risen, and competition for access is worse than ever.  Learn how to get through it and thrive.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Non-alcoholic beer has been on a tear since 2017. That's when Heineken and an unknown brand, Athletic Brewing, appeared on shelves to shake things up. The latest Skate Ramp brand has crossed $100M rapidly, but will it journey at high speed toward $1B and truly impact the beer industry? I share an excerpt of my thoughts recently written in detail for The Food Institute. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

The final wave of failing Covid-19 brands is the eight-figure businesses that used initial raises to make it through Covid supply hell and COGS inflation but are still unprofitable and unable to raise further rounds. As these brands fail, a shelf grab is underway. Let me explain.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

A common battle occurs between finance and strategy, especially if your finance person is NOT a founder. It’s the idea that we should keep and protect all revenue sources, because the company is not making money. In reality, strategic focus is what you need, not proliferation of UPCs. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Committing to a plan is hard enough for many founders. But, if you don’t do an annual diagnosis well, you will lose much of the plan’s benefit. The point of planning and diagnosing is to understand WHY you did or did not hit your revenue target (or other topline goals).  This requires systematic disbelief in topline success. I call it pressure-testing, so you can ensure your ‘growth’ is not masking other problems (including misbehavior by your sales team). (Replay of popular 2022 podcast)Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Pricing power is one of the major things a brand gives you as an owner. But not right away. The power of a brand lies in the ability to raise prices at scale as costs increase without volume suffering much at all. Conversely, you can not slash your price to accelerate. In this episode,  I explain the math behind price inelasticity and how to obtain it.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

This wonky episode may require a repeat listen. You were warned. I want to walk listeners through the variables and math that make it crystal clear what kinds of consumer propositions not only do well through DTC but should remain there and the much larger set of innovations that need to see this channel in a very restricted manner.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Lots of well-run, patient brands need an angel infusion right now. But the absence of VC right now is still a blessing. Instead, founders will need to network for angel cash, be much more focused and disciplined and yes fewer people will get to play. Fewer, better businesses actually improve the whole ecosystem in my opinion. In this episode, I lay out how I came to this conclusion recently.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Unfortunately, the folks who talk loudest about brand-building are either a) branding agencies, b) venture capitalists or c) overly enthusiastic founders. Curb your enthusiasm. You can design a brand identity, a symbolic system. But, ‘brand’ is an outcome. It is an outcome based on influencing real human behavior, entering social networks with memorable consumer experiences, potent symbolism, and grassroots ‘influence,’ not social media puffery. Learn the rules of behavior-based brand-building or get ready to struggle unnecessarily on your journey up the Skate Ramp.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

In the world of consumer brands, it’s common for investors to look down on paid advertising. Why? Because they often don’t see the same kind of trial surge that a temporary price reduction or change in attribute-outcome signaling can deliver. So, they generally see no real return on the expense. However, ROAS has to be calculated on the basis of a longer-term view of how repeat purchasers contribute to the brand.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

It’s critical NOT to remain with a bubble of startup founders in the early Phases. If you do, you will not access the greater wisdom you need. In this episode, I explain the social science behind this networking advice. You don’t need to have lunch with Mark Cuban or Daniel Lubtezky to succeed. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

In this episode, I address some of the key myths about pivoting that I have heard. Most correspond to excess risk aversion for an ideal founder. You took the risk to start this business. Let’s not let risk in the back door and prevent you from pivoting to a better path to scale. In many cases, you do not need to see a sales decline at all. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

99% of business media stories on startups are essentially PR for the startup itself. This makes these stories a one-sided source of information on what it’s like to operate and grow a startup. While there are more and more discussions of mistakes, basically no one at Inc or Entrepreneur or anywhere else really will ever greenlight a debate on this or that failed startup unless, like Theranos, it ended in some massive ethical scandal. Failure is depressing, they say. Not me.I’m honored to bring you a past podcast, the second part in a two-part interview with Professor Tom Eisenmann of the Harvard Business School (HBS). He and I chat about themes from his new book Why Startups Fail and how these patterns play out in the world of consumer packaged goods (CPG). In the second part of our interview, we discuss more advanced themes in failure:  the Speed Trap, Help Wanted, and the challenges of staffing up quicklySince joining the HBS faculty in 1997, Tom has led The Entrepreneurial Manager, an introductory course taught to all first-year MBAs, and launched fourteen electives on all aspects of entrepreneurship, including one on startup failure. Eisenmann has authored more than one hundred HBS case studies, and his writing has appeared in The Wall Street Journal, Harvard Business Review, and Forbes.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

99% of business media stories on startups are essentially PR for the startup itself. This makes these stories a one-sided source of information on what it’s like to operate and grow a startup. While there are more and more discussions of mistakes, basically no one at Inc or Entrepreneur or anywhere else really will ever greenlight a debate on this or that failed startup unless, like Theranos, it ended in some massive ethical scandal. Failure is depressing, they say. Not me. I’m honored to bring you a past episode, the first in a two-part interview with Professor Tom Eisenmann of the Harvard Business School (HBS). He and I chat about themes from his new book Why Startups Fail and how these patterns play out in the world of consumer packaged goods (CPG). In this episode, we discuss what to do when you have little business training, how unit economics evolve differently in CPG vs. tech startups, and how to prevent False Positives by doing just the right pre-revenue research.Since joining the HBS faculty in 1997, Tom has led The Entrepreneurial Manager, an introductory course taught to all first-year MBAs, and launched fourteen electives on all aspects of entrepreneurship, including one on startup failure. Eisenmann has authored more than one hundred HBS case studies, and his writing has appeared in The Wall Street Journal, Harvard Business Review, and Forbes.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Episode 100! Boom! I want to thank my listeners for tuning in twice a month to the Startup Confidential podcastDo you have what it takes to be a killer Founder? In this episode, I talk about the traits top founders have to have to make it in the industry. Are you a smooth-talking public firm CEO kinda person? You won’t make it…and here’s why...Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

Listen in on a re-issue of a  popular podcast: Retail Buyers. Either right now or eventually, you will need to convince buyers you are a key new addition to their sets. In this episode, I share some pros and cons of developing relationships with these important stakeholders. I also discuss why the Skate Ramp is just not on their radar, even though one of your key KPIs - velocity - absolutely is. Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

The real diversity issue in American marketing is diversity of thought. Emmanuel and I continue the discussion in which you will learn why Dr. Squatch nailed it and MTV literally researched its way into oblivion. Dr. Emmanuel Probst is Global Lead, Brand Thought-Leadership at Ipsos, adjunct professor at the University of California at Los Angeles and a Wall Street Journal and USA Today best-selling author of Brand Hacks and Assemblage – The Art and Science of Brand Transformation.He holds an MBA in Marketing from the University of Hull, United Kingdom and a Doctorate in Consumer Psychology from the University of Nottingham Trent, United Kingdom.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com

This is the first of two episodes in which I interview Emmanuel Probst about the continued problems in American marketing. We kick things off by discussing the illusion of control, the need to communicate transformative outcomes or risk being tuned out and other gems. Dr. Emmanuel Probst is Global Lead, Brand Thought-Leadership at Ipsos, adjunct professor at the University of California at Los Angeles and a Wall Street Journal and USA Today best-selling author of Brand Hacks and Assemblage – The Art and Science of Brand Transformation.He holds an MBA in Marketing from the University of Hull, United Kingdom, and a Doctorate in Consumer Psychology from the University of Nottingham Trent, United Kingdom.Your Host: Dr. James F. Richardson of Premium Growth Solutions, LLC www.premiumgrowthsolutions.com Please send feedback on this or other episodes to: admin@premiumgrowthsolutions.com