As the founder of a not-so-simple syrup brand, Daysie‘s Tara Pate has some simple advice for fellow entrepreneurs starting brands.
The first? Get legal representation.
“I think that sometimes can be overlooked because if you say the word lawyer, there’s a hefty price tag,” she says. “But the consequence of not having that person behind you is an even heftier price tag. Going through things like a trademark of a name or if you’re creating a food and beverage product, you’re going to spend a lot of money on the creation of a label for your product. And it’s always, I think, the best advice to have a lawyer make sure that they’re looking over all those claims that you’re making.”
Another piece of advice: Have a Plan B and a Plan C regarding suppliers and supply chain. That’s a challenge Daysie faced when sourcing the right glass for its syrups.
“Even though you’ve secured your one manufacturer or supplier already, have plan B behind you so that if you get that call from Whole Foods or whomever, you’re able to scale at the growth that you want to,” she says.
Finally, expect the unexpected.
“Everything is going to cost ten times more than you think it’s going to cost, and it’s going to cost, and then it’s going to take ten times longer than you ever expected – that’s the truth,” she says.
Daysie is a public benefit company, Tara says, aiming to increase access to capital for female entrepreneurs in the CPG business. It’s part of Tara’s goal to get Daysie its B Corp certification.
“It’s at the core founding of Daysie – the want to do better business,” she says. “I’m going to create a better business with hopes that one day as the team grows and my social and carbon footprint grows, I can make those good choices and then get that B Corp certification.”
Focusing on the company’s products, Tara says the goal was to use taste-forward ingredients. No preservatives are used – just natural ingredients.
“I wanted it to be something that the current market of consumers understood,” she says. “I didn’t bring vanilla to the world and say, taste this incredible ingredient. But I said I’m going to make something better.”
In Part 2, Tara talks about:
* Advice for fellow entrepreneurs.
* The importance of legal representation.
* Expecting the unexpected.
* The importance of being a public benefit company.
* The pursuit of B Corp certification.
* A rundown of the products.
* A tour of the Daysie website.
* Where to find the brand on social media.
Join Ramon Vela and Tara Pate as they break down the inside story on The Story of a Brand.
For more on Daysie, visit: https://enjoydaysie.com
This episode is also brought to you by Sendlane.
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