As part of its Maker Prep course, Specialty Food Association is hosting the webinar series, “The Secret Sauce” during which, Dave Hirschkop, founder of Dave's Gourmet, talks with specialty food industry powerhouses about the qualities that set great leaders apart.
Last week’s guest was Bob Burke, principal of Natural Products Consulting, LLC., a company that helps bring specialty products to market. The business assists with growth strategies, sales and business planning, budgeting, pricing, and more. Burke also serves on the board of several specialty food companies, including King Arthur Baking Co., Saffron Road, Uncle Matt’s Organic, and Walden Mutual.
Hirschkop and Burke discussed the qualities of a strong CEO, how founders and CEOs should craft their team, and when (and how) to raise capital.
The qualities both experts deemed essential include integrity, the ability to remain honest and steadfast in one’s beliefs, and humility, the ability to listen to others and be prepared to bring in outside input when needed. Relying on others too much, however, can create issues, as Burke and Hirschkop both highlighted that decision-making is a necessary skill.
“What’s a CEO if not the ultimate decision maker?” asked Hirschkop.
Burke concurred saying that it is vital to be able to make decisions without the full picture. “The industry is moving so rapidly that you can’t bring in 10+ opinions and [consequently] put off a decision,” he said, adding that, often, making the wrong decision is better than making no decision. Both because it can open doors to more decisions and allow a CEO or founder to learn from their mistakes.
Burke also gave insight into how he counsels clients.
“When working with a new brand, I always start with ‘what’s their ambition for their business?’” said Burke. “Once you have an idea of the destination, then it's easier to work backward.” He added that getting to know someone in this way can help identify their strengths. From there, it makes it possible to find other leaders to complement them, placing the business in a good position to succeed.
When crafting a winning team, Burke shared that one must have the confidence to hire people who are smarter than them or have more experience. Each new hire should “raise the bar” in the company, enabling them to grow in some way.
In the video below, Burke discusses how much money a specialty food brand should raise for their business, and what can be done with the money to efficiently support its development.
To learn more about how to be a strong and effective leader, watch the webinar on demand in the SFA Learning Center.
Related: Fueling a Business Through Education; Charting a Course to Business Success