Richard Essigs

Consumer Products | Retail | PG, IBM, EY | first job was stocking shelves, never really left | banned from focus groups | “I don’t work here, sorry”

[Richard Essigs @RichardEssigs]

OH tonight from N8 “Trail mix is just peanut M&M’s surrounded by obstacles.”

[Richard Essigs @RichardEssigs]

@davesims_ 💯% love for this masterpiece. I count three pens and five highlighters @davesims_ 👏

[Richard Essigs @RichardEssigs]

@deesnider “We're not gonna take it. No, we ain't gonna take it. We're not gonna take it anymore.” 🎤✈️⏰

[Richard Essigs @RichardEssigs]

@sportsbydavis Just waiting for Breaking News 📰Kenny Dillingham has been approached regarding President of Venezuela.

[Richard Essigs @RichardEssigs]

@GrahamRossini

[Richard Essigs @RichardEssigs]

@pixelmandan Huntington, NY

[Richard Essigs @RichardEssigs]

Expectations of taste, wellness and convenience will rise but the trade-offs between them will continue to disappear as innovation changes the variables in the equation #convenient #betterforyou #healthylifestyle

[Richard Essigs @RichardEssigs]

@snakestakes It felt like ‘97 Rose Bowl. 🏈🤠👏

[Richard Essigs @RichardEssigs]

@JediASU 💯%. Territorial Cup record was 0-4-1 during five years on campus.

[Richard Essigs @RichardEssigs]

@ChrisKarpman

[Richard Essigs @RichardEssigs]

@ChrisKarpman “…and ranch dressing has to fall on a wing” @KennyDillingham

[Richard Essigs @RichardEssigs]

@KennyDillingham @PatMcAfeeShow #IDontWantToOverreactBUT, I want to see this celebration during Monday’s show. If you know, you know

[Richard Essigs @RichardEssigs]

@martysg Window or aisle seat? Asking for a friend 🙋‍♂️💺❓

[Richard Essigs @RichardEssigs]

@NeilRetail #HandMaidsTale

[Richard Essigs @RichardEssigs]

@elonmusk @cstanley @SecretaryPete Just like in real world-any family, any company, any neighborhood-this is how issues are resolved, problems are solved, challenges are overcome. Ignore the noise. Ignore the differences. Come together to do what is right. 👏🇺🇸🙏

[Richard Essigs @RichardEssigs]

@jmmohr Know what is great about this @jmmohr? We can talk A/B, conjoint, multivariate all day, but this image-image comparison is as insightful as you’ll find 👏📸✅

[Richard Essigs @RichardEssigs]

@EyeforRetail_ While there is a lot within this post regarding launching a CPG brand, “you need to love what you are doing” can help overcome other challenges. This is a must read @EyeforRetail 📖✅👏

[Eye for Retail @EyeforRetail_]

Great CPG companies can start small too.

I mean REALLY small, without any outside funding at all.

But it takes patience. A long term view. And you need to love what you are doing.

AND put your ego to one side. This can be the hardest part of all. It’s hard to tell your friends, family and former coworkers that you’re selling potato chips or ice cream at a few local grocers and farmers markets when you used to work at a respectable tech company, accounting firm or technical job.

So how can you start your dream CPG business with little to no investor funding?

The answer lies in being self-sufficient and resourceful. This is not as crazy or unachievable as you might think. Providing you are willing to put your ego to one side and do the work for your goal.

Product development – this is the most fun part and should be owned by you anyway.

Packaging – starting small means using stock packaging. You can differentiate by looking further afield beyond local suppliers for unique shapes and formats.

Manufacturing – the leanest, most self-sufficient way to start will be to do this yourself. For a food product, start in a small commercial kitchen that you can rent for a short time. Once you see some sustained success and you are stretched beyond capacity, you can find a small production facility to co-pack.

Or not, perhaps you will determine that keeping your recipe and production methods in house is important and you will find a way to grow by self manufacturing in a larger facility.

Distribution – start with local stores, farmers markets, anywhere you can deliver easily and quickly. When you reach a size where this is unsustainable, hire a driver to do some deliveries, or find a small local distributor.

You don’t need to be with UNFI or KeHE on day one.

Sales – no one can explain your product with more passion than the person who has spent years dreaming, months researching and developing, and was up until midnight the previous night making. Your enthusiasm should be infectious. Once you refine the key messages, you will be in a good place to hire a sales rep as the product starts to show traction.

Marketing – In these early days, there is no better marketing than performing sampling and demonstrations in local grocery stores. Or standing at the farmers market speaking directly to potential customers. You will also build deep relationships with the early retail customers that will last a lifetime. They don’t forget that effort from the early days and they want you to win. In fact, they will become your advocate against competitors coming in.

Once you get started down this path, the next step will become evident.

It might be that a bigger retailer with 20-30 stores asks for your product, or a bigger distributor who has a couple of hundred relevant stores they can put your product in.

This will set off a panic that you can’t fulfil the orders.

But you will find a way. You might need to make the leap to a small production facility.

And so it continues.

Add employees slowly. Start with a family member or friend helping out part time, employ hourly workers from your personal network, young and enthusiastic university students or someone you know is reliable.

Each further step and signs of traction will give you the confidence to commit to full time employees when required.

When you put one foot in front of the other and move forward, you can then see a little bit more of the path ahead.

But if you stay at home thinking about the path, it will never appear.

Just get started.

If this is really what you want, a lack of funding shouldn’t hold you back.

[Richard Essigs @RichardEssigs]

@martysg

[Richard Essigs @RichardEssigs]

I believe same mistake of emphasizing gross margin rather than contribution margin, applies to emphasizing sales rather than velocit. 💯% I greet every dashboard, investor pitch, annual plan I see with same question: what is current and forecast sales velocity ($ sales/distribution point). Tell me sales potential, but show me sales productivity. 📈💲✅

[Richard Essigs @RichardEssigs]

@kevinleeme 💯% I greet every dashboard, investor pitch, annual plan I see with same question: what is current and forecast velocity ($/distribution point). Tell me potential, but show me productivity.