Preparation and research are keys highlighted by Weiland. “Preparedness has never been more important, so make sure you know your category, you know the size of your category, you know that your proposition has some unique elements where you can capture some of the white space that may be available,” he advised. “And then, simply from my perspective, look at what success means to you, reverse engineer those pathways to get there and just commit.”
In response to Rawal’s question about the innovation that makes each founder most proud, Olson replied that it was SPINS’ work – providing granular market data and a common language for product categories – that helped fuel the rapid growth of the Natural Products sector.
Barnholt said, “The thing that I'm most proud of is that we actually made natural products available to every retailer. We protected the natural retailer and did everything we could to continue to make that channel successful... It's gotten to the point where every retailer has access to great products, and I'm proud that we were able to do that.”
Weiland expressed pride in the dedicated team he has built, which includes employees who have been with Presence for decades.
He also cited the acknowledgement he has received for his uncanny gift at predicting which sectors and products would succeed or fail. Among others, he noted he was both well ahead of the curve on predicting the rise of the plant-based product sector and also that it would stall, which he attributed in large part to the fact that a very small percentage of the population is vegetarian.
In her final question, Rawal asked what each of the honorees would advise as the most important thing startup businesses can do. Their responses:
Barnholt: “I’ve talked to a lot of entrepreneurs, and I would say that always be the dumbest person in the room. Entrepreneurs like to be in charge of everything. So hire great people, surround yourself with great people.”
Olson: “I've known Bill for a long time, known Brandon for a long time. These are my friends. We're loyal to one another, we trust one another. That's what business is, building relationships.”
Weiland: “Construct a company, and hardwire into the DNA of that entity work-life balance from its genesis. Treat everybody with kindness, put people in the right position, right job, right person with the requisite resources that they need, and then give them the juice and pay attention to certain things. No public reprimands. Don't embarrass people. Use conscious language when something approaches you that you do not prefer.”
Memorable remarks to cap a memorable evening.
Naturally Chicago is proud to have had the opportunity to honor these three breakthrough industry leaders. It was a night of community, celebration and common cause that we will long remember.
Naturally Chicago expresses its profound gratitude to our event sponsors:
PRESENTING SPONSORS: KeHE, Presence Marketing, SPINS
PLATINUM SPONSORS: Arbor Investments, Webster Capital
GOLD SPONSORS: 108 Agency, 5/3 Bank, Bank of America, Barilla, Ciulla Associates, Demakes Enterprises, Hanson Faso, Jenny’s Tofu, KeyBanc Capital Markets, Towerbrook