Interested in starting your own entrepreneurial journey in food and beverage but unsure what to expect? Then read up on our interview with Kyle Watts, Co-Founder of Tally Foods Inc., located in Denver, CO, USA.
What's your business, and who are your customers?
Tally Kids is a zero-sugar whole milk substitute for kids! Our customers are parents of young children avoiding dairy for their child by choice or due to food allergies.
Tell us about yourself
I have been in the plant-based food industry for 12, going on 13 years, and I noticed that all popular plant-based milk is focused on adults and actually has very little nutrition. Kids need protein and fat, which cannot be found in plant-based milk popular for adults, such as almond and oat milk. Furthermore, 8% of U.S. children have a food allergy, of which dairy is the most common, so you have all of these children out there needing a dairy alternative! That's what motivates me every day, offering up the most nutritious plant-based milk on the planet, Tally Kids, to children all over the country and helping solve their problems with food allergies.
What's your biggest accomplishment as a business owner?
We were recently accepted by the two largest natural food distributors within 60 days of launch; they were that excited about our offering!
What's one of the hardest things that comes with being a business owner?
Raising and managing capital (money)! It's challenging to understand what is a priority expense and what is nice-to-have. Being that we always are seeking growth as quickly as possible, it's easy to fall into the trap of spending on marketing and other items too soon, especially in these market times, where money is tight and investments into young start-ups are cratering. You must protect your cash and be patient and stay alive!
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Raise, raise, raise money before you need it, and prioritize fundraising as a daily/weekly activity to look at your cash flow position. Build a product that will have Day 1 customers, ideally a product that requires minimal consumer education. Stay positive and be patient; by staying alive, and building a loyal base, even slowly, you will survive, as opposed to rushing and flaming out.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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