As a founder or leader of an entrepreneurial company, you may come across many opportunities for growth but might not have the cash flow to support them. In this blog, we are spotlighting our longtime client, Baby Gourmet, whose founders, Jennifer Carlson and Jill Vos, know just how to find the silver lining – even in the hardest of times – to pivot their business and tap into their partnerships for the support they need to grow their business.
Here, we discuss Baby Gourmet’s formula for long-lasting success at achieving sustainable growth.
Continue delivering innovative products
If your company is successful, consumers have grown to love and expect the best products from your brand. It’s important to maintain these high standards. Keep delivering as you have been but acknowledge that the market and consumer buying habits are changing. Adapt and pivot your business’ growth plan to support these changes and keep providing innovative plans that your customers will love. If you don’t have the cash flow to support it, work with your asset-based lender to support these growth projects.
Baby Gourmet did just that with the launch of their new Slammers brand, which is positioned to launch in August 2020. They saw a need in the market to deliver baby food products that include an immune-boosting ingredient. Their launch is timely, relevant, and exactly what consumer parents of today are looking for. Baby Gourmet takes pride in delivering innovative products. This innovative spirit is a goal they would never sacrifice or skimp on – even in the most challenging times. Maintaining this mentality is key to business growth.
Make sure your team is truly aligned
Baby Gourmet opened for business in 2005. Since then, Jen and Jill have always placed huge importance on company culture. Having a strong, supportive culture has been a huge contributing factor to their ability to adapt quickly and efficiently. In uncertain times like these, being flexible is paramount to a business’ growth.
As Jill stated in the third episode of our podcast, it’s important to stay true to your team during tough times. Keep in touch with team members. Keep them positive and motivated, and encourage them to continue to see the good side of any situation. If you have a strong team that continues to believe and is passionate about where the company is going, they’ll be more committed to moving in a positive direction.
Stay connected with your community
Social has become an amazing avenue for connecting with your community. It’s a great way to keep consumers updated about business endeavors and excite them about new product launches. It’s also extremely helpful for you to read and listen to consumer comments and stay in tune with what they are saying. You will discover how helpful it is in keeping proactive with your business growth plans when you can actually read or hear firsthand accounts of what consumers need.
One personal touch that Jen and Jill live by is to allow consumers to directly contact them. Consumers appreciate it when founders are still heavily invested in their company, and if they can actually email questions and feedback and easily get in touch – even better. This is a personal touch that is unmatched as it allows consumers to feel deeply connected to the brands they love.
The work you put in will pay off
In uncertain times like these, every entrepreneurial business leader knows the hard work that goes into continuously adapting and tweaking a business. But the work you put in will absolutely pay off in scaling your business growth. With the right plan, right team, right partnerships, and right community outreach, you’ll be able to meet your consumers where they are and proactively provide products and services they love.
The team at Gerber Finance has had the opportunity to grow together with Baby Gourmet for the past eight years, and we are always amazed at the passion and spirit they bring in providing the best possible experience to their consumers. To learn more about their entrepreneurial tactics in achieving consistent profitable growth, listen to our podcast, “Feed your Business. Sustain Your Growth,” which features an in-depth interview with Jen and Jill.
Learn more about how Gerber Finance’s asset-based lending solutions can help you achieve the growth you desire.