In this episode of Her CEO Journey, we sit down with Venessa Stonehouse, the founder of Mindful FÜD. Venessa’s journey from running a food truck to creating a successful plant-based brand is nothing short of inspiring. Mindful FÜD isn’t just about tasty vegan products—it’s about making a positive impact with every bite, including their unique honey alternative made from upcycled apples.
Join us as Venessa shares her insights on scaling a business in the CPG industry, building a brand that’s both sustainable and innovative, and securing crucial partnerships with major retailers. Whether you’re just starting out or looking to level up, Venessa’s tips and stories are packed with insights you won’t want to miss.
Discover the story behind Mindful FÜD, the challenges Venessa has overcome, and her vision for the future of plant-based food.
Key Takeaways
- Entrepreneurial Journey: Venessa Stonehouse’s entrepreneurial journey started at a young age with a food truck business and has evolved into her current venture, Mindful FÜD.
- Challenges in the Food Industry: Venessa faced various challenges, including finding a co-packer, scaling the business, and navigating the complexities of the food industry.
- Financial Planning: Financial planning is essential for CPG businesses. Venessa discusses bootstrapping and using financial modeling tools.
- Co-packing Partner: Finding the right co-packing partner is crucial. Venessa’s experience highlights the importance of careful selection and negotiation.
- Margins: Understanding margins is essential in the low-margin CPG industry. Venessa emphasizes factoring in all costs before setting prices.
- Retail Relationships: Building relationships with retailers can lead to significant growth. Venessa’s experience with Save-On-Foods demonstrates this.
- Rejecting Deals: Saying no to deals that don’t align with your business goals is important. Venessa turned down offers from Costco and IGA.
- Marketing Strategy: A strong marketing strategy is essential for CPG brands. Venessa uses Amazon as a marketing tool and reinvests profits into marketing.
- Investor Alignment: Finding an investor who aligns with your vision is crucial. Venessa focuses on partnering with investors who offer more than just funding—they bring valuable expertise and connections to the table.
- Financial Discipline: Strong financial discipline is essential for entrepreneurs. Venessa learned this from a young age.
- Data-Driven Decisions: Utilizing data and financial tools is crucial for making informed business decisions.
Episode Highlights
- [04:32] Venessa’s journey from food trucks to Mindful FÜD.
- [12:22] Challenges in the CPG industry, including co-packing and scaling.
- [14:50] The importance of marketing and brand awareness.
- [19:10] Seeking a co-packaging partner with expertise.
- [20:05] Understanding margins is essential in the low-margin CPG industry.
- [28:10] Turning down scalable opportunities to grow slow and steady for a long lasting business.
- [31:30] Having a financial strategy in place to make scaling decisions.
- [37:00] Extended to Amazon and uses this platform as a marketing tool.
- [40:10] Investment choices to fund the FrontFundr and Bootstrapping.
- [42:50] Venessa’s appearances on Dragons’ Den and her ideal investor profile.
- [45:25] Being intentional and learning from past investment mistakes.
- [48:30] Venessa’s strong work ethic and financial discipline.
- [49:50] Her use of data and financial tools for informed decision-making.
Resources
- Mindful FÜD website: mindfulfud.com
- Mindful FÜD on Instagram: @mindful_fud
- Follow Venessa Stonehouse on LinkedIn
- Investment platform FrontFundr
- Connect with Christina Sjahli on LinkedIn
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