Taste Radio

Insider Ep. 71: Why Profitability Means Saying ‘No’ More Often

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Synopsis

Nona Lim is forecasting 2020 to be the first profitable year for her namesake brand. As she explained in an interview in this episode, it took a lot of saying “no” to get to this point. The Nona Lim brand, launched in 2014 as a spin-off of Lim’s ahead-of-its time meal kit company, markets a variety of better-for-you and convenient Asian-inspired foods, including broths, sippable soups and noodle bowls. The products are sold nationally at Whole Foods and at select Walmart locations, along with hundreds of independent retail and chain locations.  As part of our conversation, Lim spoke about the company’s development and path to profitability was guided by a clear strategy and a willingness “to say ‘no’ to top-line growth that isn’t in line with our profitability requirements.”  “Say ‘no’ to business that’s not going to give you the minimum gross margin target that you have set,” she said. “Say ‘no’ to retailers that ask for too much, because you can’t afford it.” Lim also discussed the variety of ways that she