The Best Two-Minute Pitch? There's A Theme.

0:10Hello and thanks for tuning into Taste Radio, the number one podcast for anyone building a business in food or beverage. I'm Ray Lateef, the editor and producer of Taste Radio And I'm here with my BevNet and Nosh colleagues John Craven, Jackie Brugliera, and Mike Schneider We are here in New York City at the Metropolitan Pavilion For BevNet Live, Summer 2024 Bright and early on a Thursday I think it's 8, is it? Oh yeah, just a little past 8am My voice is a little, you know, gravelly But it's not from last night I think it's just from talking to so many people at the event I don't know, I saw your Instagram Yeah, but it wasn't lately I saw a cocktail photo.

0:46It was like two hours ago. Two hours ago. Right now it's 7.45. No, that was just reminding people that I had a nice cocktail last night. It wasn't that I was out. You're bragging. You're bragging. Yes, exactly. I wasn't trying to tell people where I was. You're not late-stagramming. We know you. Late-stagramming. We know you. Yeah. You're on time or not at all. Well, no. I mean, there's a lot of talking that happens at the event. There's a lot of talking that happens on stage. I was, once again, the host of the New Beverage Showdown. The semifinal round was held yesterday. Twelve brands took the stage.

1:18And may I say you did a fine job. As always, you're a pro. Thank you very much for saying that. I thought we had an amazing judging panel, which helps make things a lot easier for me as a host. You got a four-a-pad, yeah. Yeah, yeah. One numpty. I'm going to tell Coca-Cola that you said that. No. Coke is the presenting sponsor of the new revenue streams unit, more specifically of the Coca-Cola Company North America, is the presenting sponsor of the new beverage showdown. we had jockey uh john key gambier of coke on stage along with lexi prazer from beachmar ventures yourself mike schneider obviously and max bauman who's the founder and ceo of bass makers and a former winner of the new beverage showdown uh six brands have moved on to the finals but i thought again once again all 12 brands were great and you know having two minutes to pitch is just almost impossible i got this bit in my stomach right after the last pitch that we had to go into the judging room and make a decision.

2:11You did. I was really like, those pitches were phenomenal. All the, I mean, the packaging was extraordinary. All the liquid was really good. And I had no idea how we were going to make that decision. Well, what we did, what was pretty fantastic is, is that even though the presentations were short, we got a lot of information from them because when we were in the sampling room, the judges had a lot of questions about particular products and brands, I don't totally get it. Or they had a preconceived notion about what a brand might be or what a company was trying to represent. And then when the founders were on stage, you're like, oh, I get it.

2:48So I think that speaks well to their preparation, their understanding of their businesses and what they're trying to get across. Yeah, I was talking to a lot of founders prior to the competition and they were most nervous about the timeframe. They were like, we really want to make sure that we hit home exactly what we want to convey in those two minutes. So they were definitely practicing and it showed they were very polished they hit the high notes and they got their point across totally two minutes is very tough yeah i was talking to some of them beforehand and they're like how do i get all of this like just in the two minutes without being you know nervous in front of an audience staring back at you yeah but also shows i mean in general i feel like founders need to be ready with their two minute pitch anytime anywhere especially at bevnet live with anyone that they're talking to in the room it was strange that the founders seem to understand that round one is about liquid packaging and me.

3:37And they did a pretty good job up there of explaining why they're doing what they're doing, what they're trying to do, how they're trying to get it across. And then in the judging room, a lot of the conversation is about the legs of the brand and how it inspired us and what can it do in, you know, in the market and who's it for and do they understand their audience? And then, oh my gosh, do they understand what's in front of them too. And no one does. No one does. But they, you know, they, it's, can they, can they endure? Well, it's also, I think, you know, the founders that struggle to get it down to two minutes, it is kind of just a maybe slightly harsh reminder that maybe what you're pitching is a little too complicated too, and you need to simplify.

4:19So. Yeah, I think that's a fair point. And especially because some of those founders are participating in our one-to-ones with retailers here at BevNet Live. I talked to a few folks who are pitching to Whole Foods, I think, right now. Sure, cool. And so being able to explain what you're doing and perhaps explain that you're market ready for Whole Foods is part of that conversation. Although, you know, again, just getting in front of a retail buyer, getting in front of someone like Charlie New, who essentially runs beverages for Whole Foods, I mean, it's pretty amazing to have that opportunity.

4:50Yeah, no, and again, like, they were coming to me asking for some advice. it's 10 minutes that they have with a retailer. Like they've been trying to get in front of these retailers, sending them like multiple emails and they finally have the time. They're like, what do I say? Um, like we want to maximize this time, but it is like about getting the next conversation, you know? So you want to be memorable and you want to hit the key points of why am I different and why am I going to succeed in your store? But it is a little different than that new beverage showdown pitch too, because you do want to talk about like, yes, how can I succeed in that store where should i fit in the store right understanding a little bit of your identity which i think is more what round two pitch in new beverage showdown is like and you talk a lot more about market opportunity in the economics and try to demonstrate whether you understand that or not yeah and then you have to face john graven i mean it could be you know more time to give a cleaner presentation or just more rope to hang yourself oh he's waiting John is quite jaded at this point I say that with all seriousness too I think there is the other side of it which is like sometimes more time isn't necessarily better that too I think sometimes it just kind of makes founders realize wow this is a mouthful this is a lot and again it's all just part of the process they've created these products they think certain things might be important or useful for a consumer or people in the industry to understand.

6:24And, you know, again, this is like trial by fire. Like you're getting up there and some things that you thought would be important probably aren't. And other stuff, you know, based on our questions might actually like we might have wanted you to dig a little deeper on those things. The question I always hear from judges in the finals is about market opportunity. You know, where can this brand go from here? Great. You created a brand. OK, it's pretty good. you have this good idea we think it might have some legs but how are you going to get it to a place where it's it's getting to its full potential well and i think you know in reality like we live in an industry of like extreme nuances ultimately mattering right we're not looking for radically different as consumers that is we're looking for something that's you know a little different has some meaningful point of differentiation which at the end of the day might be something like looking really, really nuanced.

7:15Going back to Jackie's point about talking to a retailer about how can I be successful or this is why I'm going to be successful in your store. I keep talking to successful entrepreneurs or ones that have been there, done that. And they always talk about what they can do for the retailer. What incremental value are they bringing to this store? Because retailers have a million options to choose from. But what they're most interested in is how am I going to benefit from your brand being in my store? So that has to be part of your conversation. That has to be part of the conversation as well. Yeah, it's like how are they going to drive additional traffic to their story?

7:49How are you going to fit within the set or bring something new and fresh that people are going to be excited about? New and fresh but yet nuanced too. I mean that's a big piece of it because beverage innovation isn't like, okay, well my beverage has honey and ashwagandha and nootropics and it teleports you. Like there's so many things that we see in some of these newer beverages. and we also see them just refine, refine, refine, refine, refine. I mean, just look at Poppy and Allison Ellsworth would be the first one to say, just copy me, copy what I did. And they're moving away now from the prebiotic thing because at the end of the day, it's a better free soda in a cool can that's fun to hold and has great flavor.

8:30Like it tastes good. That's why people want your beverage. That also shows a brand evolving because like at the beginning, early adopters like care about that. But then as you get more mainstream, you can change your messaging. But I do think certain functional ingredients do have a purpose and a very important function, use that word again, in someone's daily life. Like vitamin D, ashwagandha, magnesium, and this barcode that I'm drinking here? I was actually thinking like Amuse. Oh. Yeah. Oh, wow. We didn't even realize that's where you're going. There you go. Shocking. Amuse is the presenting sponsor of this episode of Taste Radio.

9:08Now more than ever, consumers are looking for ways to boost their immune systems, and Amuse gives them that edge. Amuse is a dietary and food ingredient clinically shown to stimulate immune function at the cellular level. Incorporate Amuse into your innovation strategy and help your consumers optimize their health throughout the year. Learn more at AmuseHealth.com. That's I-M-M-U-S-E Health dot com. I was reading that in the smallest font possible. Why am I doing that? You have great eyesight. I'm losing my eyesight here. I'm surprised you don't just have that burned in your mind at this point I do, but I still want to, you know Make sure you get it right You probably wake up with night sweats thinking about that We do 10 reps after every show, you know Just to make sure Say it again One more time, Ray Speaking of great brands and ones that I was happy to see here at BevNet Live Hal's New York, which is a maker of seltzers and snacks Including pretzels, chips, and popcorn is here at the show.

10:08I had an opportunity to sit down with Stephanie. Classic New York brand. Yeah, to sit down with Stephanie Rita, who's the director of brand development for Hell's New York. And she told me that they have a seasonal product. That's flavor is fruit punch. And I am so excited to try this because I think everyone knows I love fruit punch. I just feel like there's not enough fruit punch out there. So I'm going to give this a whirl. That's because... That's because... No, there's nothing wrong with fruit punch, but it's still like, what is fruit punch? It's like, what fruits are you talking about? It's a mystery.

10:35It could be anything. It's funny. Like, I feel like every hotel that I've ever been in in New York City has Hal's in the fridge. They do. Including ours, the Virgin Hotel. Yes, they've got Hal's. It's delicious. I mean, all their products are great. I really appreciate the fact that these are highly carbonated. If I'm drinking a seltzer, I mean, isn't a seltzer supposed to be highly carbonated? I see those bubbles. That is a lot of bubbles. Still bubbling. A CO2 tank in every bottle. I did shake it up as hard as I could. And I was pouring it over my iPad here. and why? I almost got to check one now because he says I'm going to have the burps.

11:10If there's anything that makes John Craven more agitated than anything, it's drinking over electronics. Oh, iPad, whatever. What? This isn't waterproof. No, but it's like, I don't know, three generations old. It will be okay. It's water. You gave me an iPad that's three generations old? Yeah. Oh, jeez. Come on. You know, first I have attendee on my badge instead of staff. Right. You poured Coca-Cola on a brand new laptop, So that's why he's nervous. I've also had a laptop jacked. But anyway. Let's talk about that again. Let's talk about that again. Let's not talk about that again. In and out anyone?

11:43I don't think the insurance company is going to be happy about that. I was like, no, my stuff's safe on the backseat in and out. No big deal. Yeah, yeah. Anyway. Barcode, which is what Mike was drinking. We had a special guest from the Barcode team on stage yesterday. None other than Jadakiss. That was cool. Yeah, it was amazing to see him on stage. He was walking with a cane. I forgot who told me. Adam Louris I think said he got hit by a car or was it John Landis told me that he got hit by a car a few days ago but he still made it to BevNet Live which is amazing and he was talking about why he believes so much in the brand he seemed really actually quite polished in terms of like what barcode strategy was and how he thought it was bringing value to its consumer so I was pretty impressed with him on stage.

12:25It took me a second because he was a surprised guest and I walked in the room and I was like who's that raspy voice And then I looked and I was like, oh my God, it's Jadakiss. Wild. Very cool. Shocking that he'd be a good storyteller, though. Yeah. It's what he does. True. True. No, it was fantastic. And kudos to the Barco team. I thought they were awesome up on stage. Yeah. Did you see Bar's hair? That was amazing. Yeah, that was amazing. Yeah. Oh, yeah, the founder. Yeah. Barmalik. Barmalik, indeed. I also love this brand that I have on the table here, Once Upon a Coconut. They have a ton of product here at the show.

12:58So this is their coconut water and watermelon variety. I'm also a big watermelon fan for anyone out there who makes a watermelon product. There's not enough actual watermelon juice. Just you, Ray. Yes. Just you. What do you mean? I don't know. You're one of the few. What? You don't like watermelon? There's a lot of watermelon products that have come and gone, and it's a hard one. Yeah, but no. What's the watermelon brand that you love, John? What? The one in the can. What are you talking about? It's your kid's love. Excuse me. Oh, the Mellow Water. Mellow. Yeah, Mellow Water is good. Yeah, Mellow is fantastic.

13:26It's great. It's just difficult. What do you mean it's difficult? Watermelon water? No, but that was a fresh watermelon water. Come on. Like, melt mellows, like, in a can. It's pasteurized. It's, you know. Watermelon water just relaunched, too. Yeah. They have, like, lemonades now. Did you hear the word relaunch? Why did I have to relaunch? It's difficult. Back to Once Upon a Coconut. I really like this product because there are two ingredients, coconut water and watermelon juice. So a two-ingredient beverage always, always piques my interest and is typically quite good. I had blueberry once upon a coconut yesterday.

13:56I mean, this stuff's great. and they activate it at the event. It's everywhere. I'm so excited. Yeah, totally. You need to go grab a Once Upon a Coconut house. Yeah, I had a few. Yeah. Also love to see Remedy Organics here. They are in full force here at the show. Crushed a few of those, too. Totally. If you miss breakfast or if you miss lunch, this is even better. I'm holding the Golden Mind variety, which has 10 grams of protein. It's made with almond milk, turmeric, MCT oil, ginger, DHA, omega-3, and probiotics. They have a new line that has 20 grams of protein. 20 grams of protein, you will not know it.

14:30You know how when you have 20 grams of protein, you know you've had 20 grams of protein because it's usually pretty chalky? Theirs is so smooth. I wonder where you're going with that. I was that person who missed breakfast and lunch and I was like, where's the remedy organics? I mean, this stuff's so easy to drink and you feel great afterwards. I mean, it's such a good product. And they have a new ube flavor, which is really good. It was right next to the golden. See, I always grab the blue spirulina And I had two of those, so. Also really happy to see Ginger Labs here, G-N-G-R, with their shots because you need shots when you're 24-7 here at BevNet Live.

15:07This is their vitamin C booster made with organic ginger and turmeric. I saw on LinkedIn the founder, Nimic Sultan, I believe is how you pronounce his name, and he had pallets of product that he was bringing to the show, and I'm like, I might have to take an entire pallet because this stuff is so good. It never makes it to the show because Ray steals it all. I don't think he brought that many, but I appreciate the thought. We would definitely take a pallet. Totally. Oh, my gosh. They've stocked the office. They also have their phenomenal RTD line. I mean, Ginger is amazing. They've sent a bunch to the office.

15:40Very generous. Thank you so much. Totally, totally. And thanks so much to all the founders who have brought products to BevNet Live. I just see people drinking so many different things, trying so many different products. The coolers are always stacked because of our amazing team who's always putting in new products. Yeah, just love to see the variety. There's always like at least one gem, you know, new discovery for me, Rockaway Soda. Oh, yeah, Rockaway's fantastic, yeah. It looks like neon sign just crushing a newspaper. It's a cool-looking can, but the liquid is phenomenal. And it's powered by ginseng and maca instead of caffeine.

16:18Well, we have one more day of BevNet Live. This is always the point where everyone's just like power up. Melting down? Well, no. Or powering up. Powering up. Crushing ginger shots and remedy organics. We're going to do it all over again in LA. More specifically Marina Del Rey in December. Excited to see everyone at that show as well. But to anyone who came to the show in New York City and is listening to this podcast, thank you so much for being with us. I'm just happy. I just feel like everyone on our team really works hard to make this event as great as possible. and to see people enjoying it and to see people getting value out of it is worth all the hard work.

16:56And one more quick shout out to our amazing team. Our unsung heroes like Joe Cratchy and Josh Pratt and Ryan Galang who run our AV. We're here at 6 a.m. making sure that everything looks good so that we look good. Really appreciate all the work you guys do. Oh, and of course, Nate Brescia, our Minister of Photographic Arts. Best title ever. That brings us to the end of this episode of Taste Radio. Thank you so much for listening. Taste Radio is a production of BevNet.com Incorporated. Our audio engineer for Taste Radio is Joe Cratchy. Our technical director is Joshua Pratt. And our video editor is Ryan Galang.

17:33Our social marketing manager is Amanda Smirlinski. And our designer is Amanda Huang. Just a reminder, if you like what you hear on Taste Radio, please share the podcast with friends and colleagues. And of course, we would love it if you could review us on the Apple Podcasts app or your listening platform of choice. Check us out on Instagram. Our handle is BevNetTasteRadio. As always, for questions, comments, ideas for future podcasts, please send us an email to ask at tasteradio.com. On behalf of the entire Taste Radio team, thank you for listening, and we'll talk to you next time.