Business Insights – Two Equity Firms Advise
Hans Heer (Emil Capital Partners) with Terry (Culinest).
Investors get pitched by a lot of businesses – so they have a really good sense of what works and doesn’t.
Hans Heer (Emil Capital Partners) and Christopher Bradley (Mistral Equity Partners) gave excellent recommendations to students in my Food Entrepreneurship class.
- Don’t be shy about getting advice – but ask the right people. Get 3 opinions.
- Use your own judgement: trust yourself.
Have a point of difference:
- Remember the importance of a unique selling proposition.
Build customer relationships:
- Customer trust and people returning drives sales.
- Have a sampling budget.
Keep costs down:
- Go to a non-union building – costs can be 40% lower.
- Every delay at retail costs you a lot because you’re still paying rent.
- Part-time employees can help lower costs and give you flexibility.
- Supplier terms – ask for 45, 60, 90; longer terms, better cash flow.