Eye for Retail @EyeforRetail_
Ex-founder 9-figure CPG company. Helping Fortune 500 retailers design incredible stores and more. Sharing observations about retail and CPG. North America Joined December 2022-
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I founded a $100M CPG business and managed the sales team and its incentives. A great field sales team can add $millions in sales, providing they are well managed, accountable and incentivized. Here are nine of my dumbest incentive program mistakes so that you can avoid them:
protein for the win
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Plant-based protein shake brand OWYN is being acquired for $280M in cash. The buyer is Simply Good Foods who also owns Atkins and Quest. OWYN is the fastest-growing RTD protein shake in the market and expects to finish the year with net sales of $120M. Simply Good Foods is…
We need to consider business building (0-1) more of a learned skill which you get better at on each attempt, and less so an expectation that your first swing is a home run No different than any job or career you pursue
It took me 7 failed businesses, and 6 months of prep to "launch" a sword company that did 2m+ its first year. It took me 3 years of hard lessons with my sword company, finding the next opportunity, and perfecting product to "launch" a candy brand that will do 10m+ its first…
It took me 7 failed businesses, and 6 months of prep to "launch" a sword company that did 2m+ its first year. It took me 3 years of hard lessons with my sword company, finding the next opportunity, and perfecting product to "launch" a candy brand that will do 10m+ its first…
@EyeforRetail_ From a distributor rep, these are all spot on. 👍
@EyeforRetail_ I was set to get a 250k bonus. One of the partners said, "You're never going to get it; forget it." He was incensed I hit my targets and would make multiples on his salary. Took two years, but it ended poorly. Since then, I have never clipped the wings of my people.
fun fact: spent the weekend bedridden, couldn’t walk because i hurt my back the worst its ever been. i can walk again (slowly & in pain lol), but my gf picked up & unloaded our snap order & took care of me all weekend😩💖 entrepreneurship is better w a true partner 🥲
@EyeforRetail_ This is a great list for those wanting to do an incentive program but also demonstrates how incentive programs incentivize behavior in a silo and can negatively impact organizational goals.
@EyeforRetail_ I haven’t been in a long time but I’m shooting for 80% range.
So smart:
Just in: Atkins and Quest marketer Simply Foods is acquiring plant-based protein shake co OWYN (Only What You Need) for $280 mil in cash, co announced in past hour.
@EyeforRetail_ @EyeforRetail_ Great insights. Worked on a plan over the weekend for one of our brands. Time for some edits 😅
@EyeforRetail_ The irony that public access television went from mockery to the creator economy (which is basically public access television on the internet) where now being a youtuber is the new “I’m moving to Hollywood to become a star!”
How I imagine VCs posting thought leadership threads
I'm looking for a writer to help me write a book about my time at Native. I've got so many good stores about: - Stopping All Marketing Spend - Office Space - EBITDA - Selling the business Does anyone know how to find someone like that?
Not all annoying people win, but most people who win are annoying. Because to win, you must obsess over details. And hold people accountable. And speak directly. And make unpopular decisions. And move insanely fast. And juggle 10 things at once. And engage in shameless promotion…
I often wish I was the type of person who woke up Monday morning ready to conquer the world, but truth be told, I'm not. Instead, I find myself anxiously glancing at my phone, bracing for the fires I'll inevitably have to put out." It's easy to envy those who seem effortlessly…
If you see more than 2 CFOs changes in a company inside 2 years, your base assumption should be: 1. The business is in serious financial difficulty And / or 2. The business is ungovernable. Ie CFO can’t stand behind the control / numbers
@EyeforRetail_ This is great! Any thoughts on when is the best time to break into retail as a startup? Sooner the better? My company is launching DTC next month, but planning to follow your approach for local retail domination..
@EyeforRetail_ Having a field sales and/or merchandising force is really category specific though. Certain package snacks and beverages, for example, yes. Pasta, condiments, dressings, many others equal the ROI on having one not worth it for a variety of key reasons.
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