In this ongoing series, we share advice, suggestions and insights real entrepreneurs who fight business battles every day. (Responses have been edited and condensed for clarity.)
Give us the elevator pitch for ALOHA.
ALOHA is an independent, employee-owned company committed to creating delicious, nutritious plant-based foods that improve well-being. Our award-winning bars, powders and drinks are high in protein, low in sugar and made with sustainably sourced, USDA organic, Non-GMO Project Verified and certified vegan ingredients. We’re also proud to be climate neutral and B Corp certified, which suggests we use our business as a force for good. We are consistently the fastest growing food company in our category across all channels, online and offline. With this development, we knew that it was finally the right time to introduce our latest product to the market “Deliciously satisfying” campaign. Our goal now is to make the ALOHA name a household name.
Can you talk about the struggles you faced in taking up ALOHA?
My passion is building and scaling “Better For You” brands, specifically from the fashion and food industries. I have held key leadership roles at brands similar to Under Armor, KIND Snacks, Nature’s Bounty and Chobani; all the brands that challenged the established order and asked the query: “Can we do better?”
When I took over ALOHA at the end of 2017, the company was in a difficult situation. After raising and losing over $65 million in just 4 years, it was on the snapping point – financially failing, lacking product market fit, and with low morale. I knew the only option was to rebuild. Over the course of 18 months, we reformulated the entire product line, revamped the brand to stand out in a crowded marketplace, and built a team of employee-owners who shared my “vision of excellence.” We I applied the lessons I learned at Chobani and Under Armor to build a healthier and more sustainable business. Today, ALOHA is a brand value over $100 million and the fastest growing in its category.
Source: Aloha
What is the most vital thing for aspiring CPG entrepreneurs to focus on?
An awesome product is your number one priority. If you are a food company, meaning taste and flavor. No matter how “new” your ingredients are or what dietary trend you are following, if your product doesn’t persuade consumers at first taste, you are a one-hit wonder. A company may have great marketing or a charismatic founder or key influencer selling its products, but if a consumer only buys once, that is it. Your product is your saving grace, so invest in making it the best it will probably be. Don’t skimp or cut corners. Once you lose trust, it’s twice as hard to get it back. In competitive categories, a “good” product is not enough – it has to be amazing. If it is not a spectacular result, go back to the drafting board.
Can you advise on how to get onto store shelves?
Understand what “winning” means for your key elements. For retail partners, focus on what is vital to them, namely the incrementality and productivity needed for each set of shelves. Highlight how your brand and product will increase sales and exceed existing standards. Make them partners in your success with a clear plan to drive targeted awareness and trials once your product is on the shelf. To anchor itself in the classic CPG hegemony, packaging matters… a lot! Finally, show how your products meet a clear consumer need or create a latest opportunity. Think about what your brand does “better” (note that I didn’t necessarily say “new” or “different”) than current players. Make your salesperson’s job easier by providing them with information they could not already have.
Should latest brands focus on in-store sales, DTC, or give equal importance to each?
Getting to know your community is key, and currently the best way to do this is digitally. This was critical and intentional for Aloha in the “refounding” era. Balance a holistic digital ecosystem (DTC, Amazon, Walmart.com, Thrive Market) with intentionality as a technique of shaping your goal consumer profile and due to this fact your retail strategy. In the grocery industry, expanding your brick-and-mortar retail footprint too early will be an extremely costly mistake. You only get one chance to launch at a specific retailer, don’t screw it up! And once you get it up and running, it is not about number shops, but qualitythe relationships you build. For me, digital is the great equalizer between large and small corporations, so it’s going to all the time be the first of our 1-2 punches.
Source: Brad Charron, CEO and “re-founder” of ALOHA
Can you describe your problem-solving and decision-making process?
As CEO and “re-founder,” most of the time I see my role as the conductor of the orchestra, keeping the company focused but also fostering creativity. To do this well, I keep 4 key things in mind every day:
- Listen: Open. If I seem to be outwardly disagreeing with an approach, I still enter each conversation ready to learn something latest and challenge my very own conventions.
- Adapt: Don’t be afraid to modify your playbook halfway through. Companies that may change quickly and act on latest ideas often gain a first-mover advantage.
- Pace matters: prioritize simplicity and take the next steps. Going too far too fast rarely works. Sustainability is the key to long-term success. Momentum is a powerful force that have to be held on to.
- Face reality: Facts are facts. Period. Instead of trying to change what has happened, I focus on learning from and adapting to stay the course, even if it means overcoming unexpected challenges.