What would you say are hard for startups to do at an early stage?
That's easy: quality feedback from the target market. Under this broad complaint are: finding them, getting their time, & writing good questions. Finding them is a bear.
Get access to people who have already gone from startup to exit. It's just not experience most people have. Most people work for a company that scaled a long time ago. Without this experience/knowledge, it is really hard to make good decisions.
Building a Team
Startup pain points:
1. Running out of money - manage your cash like it is the air you breathe and don't wait until it becomes an emergency before you cut back expenses or raise more cash.
2. Firing one of the launch team - Someone, or more than one, will not fit and you cannot take long before you exit them as the lack of fit will affect the entire team.
3. Making the stars your immediate goal - While your goal should be world changing and bringing in big bucks, don't lose sight of the fact that it's the little wins that show the team you're are the right track that really build momentum and help everyone on the team achieve at their highest level. If you don't get the little wins, unless you are very lucky or have the absolute right contacts, you will go without enough sales for a long time.
4. Making a leap to the next level - You will hit cash flow positive but you are far from your goals. You will need to make the decision to risk everything again and make the investments, with or without outside money, to jump to the next level - so you go back to Item #1 and start again.
5. Knowing when to sell the company - You cannot imagine how many entrepreneurs I've known who have turned down a huge payday because they thought they could get 5x or 10x more and have soon after fallen flat on their faces and closed shop, usually because competition overcame them or the market made an abrupt change.
Hope that helps! Tom
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The purpose of this message is to update you on the current state of Mealthy Inc. and how that effects you, as a Mealthy customer.
In 2020 Mealthy Inc has not only grown revenues 31% during the COVID19 Pandemic, a time when supply chains are a mess, raw material availability is hit and miss, shipping costs have gone up and consumers have less cash to spend but Mealthy Inc has also become profitable. While the acquisition by MVP Holdings Inc. brought with it a team that has decades of operational experience it also brought with it a team that understands how to create efficiencies in operations, cut unnecessary costs and negotiate better agreements on both the buying and selling ends of the business. That knowledge and know how has helped cut costs by over 20% thus in turn helping Mealthy Inc go from losing $1.9M in 2019 to becoming profitable in 2020. That is a huge and rare turn around!
In 2020 Mealthy started a relationship with Costco and has been selling the Mealthy CrispLid on Costco.com. This relationship has been very successful to date and it is leading up to putting the product in every Costco store in the Spring of 2021. When that happens the volume will more than quadruple the current volume being sold on Costco.com. Look for more updates on this coming soon.
In 2021 Mealthy has many projects on the to do list. First of all we will be launching up to 6 new product lines dependent on how COVID19 continues to effect the supply chains. The new product lines will put Mealthy in other kitchen/cooking/food industry segments that allow us to capitalize on not only our successes with the Mealthy Multipot Pressure Cookers but the Mealthy CrispLid as well. These new product lines will give us the ability to sell products to consumers on a daily or weekly basis and not just every couple years when they need to replace a Mealthy appliance. The new product lines when officially announced will enter Mealthy into an $683B annual market. We believe the new product lines will be a game changer for Mealthy.
In 2021 MVP also has plans to take Mealthy Inc public. While we cant yet go into details the plan is to take Mealthy public by the end of 2021. MVP Holdings Inc has the ability to take Mealthy public without the usual exorbitant costs and red tape that most companies would have to go thru to go public. To make that a reality Mealthy is first launching a 2nd round of CrowdSAFE funding thru a new platform WeFunder.com/Mealthy.
What is CrowdSAFE funding you ask? It's a platform that gives passionate customers like you the ability to invest in companies and brands that they believe in that they would not normally have the opportunity to do otherwise. For as little as $100 investment a passionate customer like yourself can also become an owner in the company and help build it bigger and stronger and give it the ability to create and launch new and updated products for you and your family to enjoy for years.
Why are we doing this? Mealthy wants to use the capital to launch new product lines, launch new updated products, expand international operations, launch new marketing campaigns and expand the current team in place.
You're probably asking how does this effect me as a Mealthy customer? It doesn't, but because you enjoy the Mealthy products we wanted to give you the opportunity to be a bigger part of Mealthy and to help continue to enjoy Mealthy products for years to come.
Mealthy Inc did an initial Crowdfund campaign in 2019 and raised the max allowable amount of $1.07M in just 90 days. It takes capital to grow any good company especially in the first few years. So now Mealthy has launched Round 2 of Crowdfunding. Mealthy Inc lost $3.6M in its first 2 years of operations. That is not uncommon for startups. What is uncommon for most startups is that they reach profitability by the end of year 3 like Mealthy has. Even though Mealthy has reached profitability that doesn't mean it has all the cash it needs to continue to grow and expand operations. That's where the 2nd round of crowdfunding comes in. With the new capital injection Mealthy can order more inventory to supply to the expanding sales channels both in the US and internationally. Inventory was tight in 2020 as Mealthy didn't have the capital to go out and buy the needed inventory levels such as companies like Ninja and InstantPot can. Without the inventory in the US most retailers and even Amazon wont buy from us as a vendor until we have actual product sitting in our US warehouse. So with more inventory, more marketing, new product lines and expanded operations we envision another double digit growth year and even greater profitability.
Once this round of crowdfunding is completed we will then begin the process of taking Mealthy Inc public. Once Mealthy is publicly traded every crowdfunding investor will be converted into an actual shareholder and will have publicly traded shares of Mealthy to do with as they please.
While we are not investment advisors and cannot give out investment advice, think about the publicity that would come with a profitable crowdfunded company actually going public. Very few to none ever get profitable much less go public from a crowdfunded launch. But that's where we are headed and it's happening sooner than later.
It is my firm belief that what we are building at Mealthy is more than products, it's more than recipes, it's more than a brand or a company...we are building a community of like minded people who love good food, good friends and good times spent with family around the kitchen table.
So please join us in continuing to build the Mealthy community.
For more information on this email: email@example.com
For more information on Rd 2 of CrowdFunding go to: WeFunder.com/Mealthy
Chief Executive Officer
3437 W Shaw Ave.
Fresno, CA 93711