After launching a few startups (which is no easy feat), Lisa Liguori founded a company that presents awards to food products that meet a high standard of excellence. You may know her company, ChefsBest, by the gold seals and ChefsBest Awards that appear at the top of your favorite food packages. Lisa’s company helps startups make big waves in the food and beverage industry by her well-established and trusted gold seals.
Launching a new food or beverage product? Here are Lisa’s four tips for success:
- Look before you leap: Prove out the concept (real market responses) before investing heavily. For example, some people get an idea and then they go out and buy a computer and develop a prototype, purchase inventory, sign a lease, etc. Instead, I’d borrow a friend’s computer, work out of the garage, and get the product or service in the market. Prove it sells and THEN ramp up in a stepwise function.
- Have a Marketing Plan: An idea can be phenomenal, but without good marketing, no one will ever know it. So, having a plan to get the word out is critical. There is a lot of ‘noise’ in most industries and breaking through can be difficult. Prepare for that.
- Get your family on board: Running a business can be all-encompassing. It needs to be a strategic life decision and it effects all the important people in your life. Plan ahead and decide if it is something you want to tackle. Also, have a plan for establishing boundaries so you preserve time and mental energy for family, friends, and relationships.
- Enjoy the Journey: Whether successful or not financially, starting a business will teach you a lot of interesting lessons. Remember to have fun and enjoy the journey. Set milestones, and when you hit them, take the time to CELEBRATE. Don’t just immediately set a new bigger target – in that case, you are never ‘there.’ Enjoy. Enjoy. Enjoy. In the end, it is all about the adventure and the journey.
Submit your product here to be considered for the ChefsBest Excellence Award and be recognized amongst “America’s Best”.