Embarking on my current journey of running a Consumer Packaged Goods (CPG) company has been an eye-opening experience, filled with unexpected challenges and valuable lessons that extend far beyond the nature of this very complex business. As I reflect on this entrepreneurial adventure, I realize the profound impact it has had on both my personal and professional life.
Entering the CPG business was for one an extremely bold move because I was a novice whose experience in the kitchen was only as a passionate home cook. Armed with this passion and the desire to capitalize on an opportunity, I believed I was ready to do some research about the industry and how to make my product come to life in supermarket freezers across the country. This was an ambitious goal from the very concept because I dared to venture into a competitive industry dominated by giants like Campbell’s Soup Company and General Mills.
The goal was not only ambitious, but scary. I was using my personal funds to start a business manufacturing Jamaican-style frozen soups convenient meal; and in the process, carving out a niche as the first to do so. Little did I anticipate the intricacies and hurdles that would follow.
Competing in a market saturated with well-established players brought unforeseen challenges. Not only did I find myself fending off competitors attempting to replicate my unique product or derail my business, but I also had to fend off persistent and aggressive angel investors eager to stake a claim in my burgeoning venture. Meanwhile, I maintained a full-time corporate job, juggling the demands of both worlds.
The CPG industry, highly regulated and rife with cost factors, posed a unique set of challenges for a business model heavily reliant on co-manufacturing. Quality control emerged as a chief concern, navigating the delicate balance between production efficiency and maintaining the high standards I envisioned for my brand. At times, these challenges threatened to deter me. The complexities of the industry, coupled with the demands of a dual professional life, tested my resilience. However, when I pause to consider the immense opportunity that lies ahead and the inherent value of the product I’ve created, my focus remains unwavering.
What have these business experiences and challenges taught me about life and career?
Resilience and Adaptability:
The ability to adapt and persevere in the face of unforeseen challenges is a hallmark of entrepreneurship. In both personal and professional realms, life throws curveballs that require resilience and a willingness to adapt.
Strategic Decision-Making:
Running a CPG company has honed my strategic decision-making skills. The importance of well-thought-out decisions extends beyond business and into our personal lives, influencing our paths and shaping our futures.
Balancing Act:
Managing a corporate job alongside a burgeoning business has taught me the art of balance. This skill is applicable not only to professional endeavors but also to maintaining a harmonious personal life.
Persistence and Vision:
Despite setbacks and challenges, holding onto a clear vision and persisting in the pursuit of goals is crucial. This principle resonates in personal aspirations and career trajectories alike.
Value of Innovation:
The success of introducing Jamaican-style frozen soups highlights the value of innovation. Embracing creativity and thinking outside the box can redefine personal and professional landscapes.
Overall, being at the helm of a CPG company is a transformative experience that extends beyond profit margins and market shares. It’s one that shapes character, imparts invaluable lessons, and provides a unique lens through which to view both the challenges and opportunities that life and career present. I continue to be amazed by the impact this journey has on my faith and endurance. In some way, it gives me a bionic sense of purpose. I shall not fail is more like it.
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