Hey , 

Happy Monday. Startups are laying off employees left and right, and experts are saying we're moving towards a recession. Is your business designed to navigate economic highs and lows?

PS. If you were forwarded this newsletter, please 

click here to subscribe

. 

Are You Building a Business or Gambling?

I see so many entrepreneurs treating their business like a horse betting race. Getting money from others and betting that they’ll find success. You see this with “growth” businesses that operate at a loss until they hit it big or go out of business.This is an approach driven by VC companies, and these are the companies that make the news headlines. Why? Everyone loves a boom or bust story. As Matthew commented on my Linkedin Post:"The performance metric for investors is gargantuan returns (at least 5x, preferably 10x to 20x) in 3 to 5 years. This structure biases investments to high risk / high return opportunities or as stated in your post…gambling. Venture investors are not rewarded for investing in tortoise 🐢 businesses. Money will continue to flow to high risk / high return businesses because it is fundamentally gambling by design. We are essentially betting when we buy a company’s stock."Now don't get me wrong, sustainable businesses definitely can attract VC / risk capital. Once you create a proven product with proven market fit, you de-risk a lot of your company for investors. You can then make a stronger case that you need heavy investor capital to accelerate your already strong success.You can invest in fast growth to capture market share knowing that you have a strong foundation.

  Building a Profit First Business

I recommend building a profit-first business, one that can be profitable in the first three years. Building a sustainable business gives you a much higher chance to1) make more money2) support your mental health3) work the hours you want4) have a successful outcomeIf the business can’t do it, I’d suggest looking at a different business, unless you’re a gambler.And yes, those big companies like Uber and WeWork are gambles. Sometimes they pay off. Most time they don't.

Jordan Buckner

Foodbevy

FINANCE FOR CPG BRANDS

Most CPG founders are doing their bookkeeping WRONG. Talk with Alice at MyPocketCFO if you're looking to create accurate financials for your business.

When should you hire Alice? When you're:

• Raising equity capital

• Raising crowdfunding capital

• Need to accurately know your Shopify business

• Applying for a cash advance or business loan

• Need to understand your finances to make better decisions.

Best of all, Alice is super affordable. She's offering a

 special of $99/month for the 1st three months and $199/month thereafter for the Foodbevy Community.

Here's their

 customer deck 

to learn more about the benefits.

Request an intro to Alice to learn more

SHARK TANK SEASON 14 CASTING

Season 14 of Shark Tank casting is now open! I swear, Shark Tank is one of the fastest ways to accelerate your business. I never applied with TeaSquares as I didn't think I was ready... BIG Mistake. Sometimes it takes founders 3-4 times applying to make it on. Start early and apply every season!

INCREASE YOUR AOV AND CONVERSION RATE

Are you looking to increase your Shopify AOV and Conversion Rates? Veeper is an awesome tool that allows you to optimize the best discount to get individual customers to purchase. I sit down and talk with Jordan from Veeper about how their software works. Take a look.

NEW PODCAST EPISODE: 43. The Ultimate Launch Plan with Damien Law, Effin Good Snacks

Damien learned that building his company in public allows people to become personally invested in him and the brand. He created a TikTok account in December 2021 and his first video went viral, getting him a waitlist of 6,000 people. From that waitlist, Damien sold 1,000 units and he was off to the races. Join me to learn how Damien created the ultimate launch plan for bootstrapped founders.

Listen on Spotify | Listen on Apple Podcasts

DISCOUNTS

- Mindful Goods 

is an awesome Amazon expert that can quickly get you started or optimize your pages for strong ROI. 

Get 10% of their services 

 use code FOODBEVY.

- Maverick Lab 

allows you to create individually personalized videos (with a customer's name) welcoming them to your community. Foodbevy members save 40%. Reply to this e-mail for an introduction.

Check out their demo here.

- Chop 

is a

rebate platform

that allows you to drive in-store trial, collect customer shopping data, and build customer profiles to further drive your business. Foodbevy members save 20% off. E-mail me for the discount.

- Stripe 

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

Save over $600

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.

- 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

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

Jordan