In episode six, Accountfully's Managing Partner, Brad Ebenhoeh sits down with Wild Friends co-founder, Keely Tillotson. Wild Friends was started by college roommates Keeley Tillotson and Erika Welsh; two hungry athletes wondering if they could make their own nut butters that could live up to the nutritional and taste standards they desired. Through some hands-on product sales (biking orders around the University of Oregon campus) and helpful feedback from friends, a company was born.
The goal of Wild Friends is to make food-friendly, which means creating fun and delicious products made with simple, nourishing ingredients. Keeley goes into detail about their very dynamic ten years in business, with advice and stories creating the Wild Friends empire, from a college student, to food biz mogul.
The Wild Friends Website: https://wildfriendsfoods.com/
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Basic overview of Wild Friends and its sales channels
Keeley's suggestion for the most important thing to do for those getting a CPG business started and how they did it
Keeley's sales channel that offers the best customer feedback
Which eComm platform Wild Friends uses and what they started with
Keeley's overview of selling through big distributors
Which channels you should go all in on, and which to take your time and do your research
Brad's list of items you need to have before diving into big distribution as a small biz
What metrics Keeley looks at in each channel for success
A lesson Keeley has learned over the years analyzing different aspects of each sales channel
Why doing something like making an eComm specific P&L is important
Wild Friends cares mostly about these select things as it comes to metrics
A tip Brad has for CPG companies, stemming from a trend he sees in many clients
What you need to understand based on the metrics studied
One thing Keeley advises companies that sell retail to do and consider
The slow and painful market test Keeley suggests and why it is helpful to become sustainable long term
Brad reminds us what needs to be considered for the success of a company to rapidly grow
The Wild Friends Operations overview: supply chain, procurement, inventory management, etc.
Keeley's explanation of why margin matters so much
How a recent co-packer relationship has transformed Wild Friends' margins
How the new co-packer relationship is a game changer for cash flow
The items Keeley will never outsource
Brad's explanation of cash cycle and the goal of a small product business
Why a turn key co-packer relationship eases this inventory management complexity
Keeley's explanation of why you should be ensuring you are putting human capital at the forefront of business decisions
Brad's explanation of optimizing the finite resources of time, talent, and money
Brad and Keeley's discussion on Wild Friends doing open book financials and why Keeley decided to implement it
One quick tactical tip Keeley offers to those who want to teach financials
Keeley's CPG Do's and Don'ts
