PRODUCT MARKET FIT CALCULATOR

Hey , 

Finding Product Market Fit should be your #1 focus as a new brand, as it’s the #1 reason companies succeed. Read the article below and you’ll find a concrete way to define, measure, and achieve product market fit for CPG companies.

What is product market fit?

For Food and Beverage brands, product market fit is when you create a product that aligns with a strong consumer demand, driving to increased velocity and strong repeat sales.

Some products quickly find PMF, and others never fully achieve it. One of my favorite examples of this is Rx Bar. We all know the success story of how Peter Rehal built the company and eventually sold to Kellogg, but the real success is finding strong PMF early and staying laser focused. Peter and his business partner were avid Crossfit fans, and designed a clean protein bar they could eat before and after a workout. This was a perfect market ready for the right product. If you look at people who do Crossfit, they are early adopters, avid repeat users, and are vocal about sharing with others. RX Bar created a product specifically designed for this viral audience and it took off.

According to Andy Rachleff, there is a two step process to figuring out product market fit,

Value Hypothesis

, and

Growth Hypothesis

.

PREVIOUS EVENTS

Fundraise Using Equity Crowdfunding

Interested in equity crowdfunding but don’t know if it’s right for you?  It’s a relatively new fundraising tool that’s incredibly powerful if used correctly.

Equity crowdfunding allows startups and private companies to raise capital from the crowd through the sale of securities like equity, debt, revenue share and more. Anyone, regardless of wealth, can invest in private businesses, not just the ones trading on stock exchanges, and they can do so online. The SEC just raised the maximum limit to $5 million, so now’s a good time to jump in.

Join me as I talk with Iñaki and Sophie from StartEngine on how to build a successful Crowdfunding Campaign.

YOU’LL LEARN:

• How to build a strategy to exceed your goals.

• How to close 25% of the fundraise on Day 1.

• How to use media and press to build momentum.

• The pro’s and con’s of having hundreds of shareholders on your cap table (hint* you won’t have to).

• The legal implications of doing a raise.

NEW FACEBOOK GROUP

Join our new Facebook group to keep track of all the latest Foodbevy updates, discounts, and features added to our website. In talking with many of you, we are going to open this group up to our industry partners so they can add their experience to the conversation. I'm still keeping our Mighty Networks community open for now as a private space just for brands. Join Now!

DISCOUNTS

The Accountrepreneur 

is your go-to outsourced CPA and CFO firm for the food and beverage industry. Receive

 a free financial assessment + Foodbevy Members get 20% off services for one year.

- The Creative Exchange 

is a social media agency designed for CPG. If you need help on social, they are offering all Foodbevy members a

free 1hr consult, along with a $400/month deal to join their Photo Club, which includes 12 photos per month.

- Showcase 

allows you to conduct curated product testing with consumers at home. Send your products to their curated community who loves discovering new brands to collect valuable feedback.

Conduct a starter insights package of 50 survey completes for $1k.

- Stripe 

is now providing $20,000 in fee-free processing for new and EXISTING customers.

Save over $600

- WeStock 

allows you to identify where your tribe would like to purchase your products in retail. 

Save 25% monthly and annual plans.

- Airtable

 can store information in a spreadsheet that's visually appealing and easy-to-use, but it's also powerful enough to act as a database that businesses can use for customer-relationship management (CRM), task management, project planning, and tracking inventory. 

Receive $2,000 in free credits

- Hubspot 

is an inbound marketing and sales software that helps companies attract visitors, convert leads, and close customers.

Save 30% on all plans

- RangeMe

is used by hundreds of retailers to source products. If you use RangeMe,

they are offering $600 off their premium service.

With your help we're building an amazing community of Food and Bev entrepreneurs helping each other!

The Foodbevy Team

Download the Mighty Networks App to join the conversation on the go!