People think because they have a recipe for a sauce that everyone raves about that's enough to pour your life savings into the launch. Dave's guest is Patrick Ford, Vice President of Ford's Gourmet Foods. Patrick attributes the success of their family business to some guiding principles that came from his grandfather, "...being from the produce side, we have a saying, 'The further you get away from cash, the worst your deal get.' Because when my great-grandfather and grandfather used to buy fields of produce, they would pay for the field in cash in Florida or wherever at the time they bought it. And so if you didn't, if you needed credit, your price would be really high, and you wouldn't get the first call if they had a field. And so it allowed us to get the best product cause we paid the fastest.
Tune in to this episode of The H Spot to see how this correlates to his Bone Suckin' Sauce, learn a bit about the grocery business and how to avoid common mistakes in launching a food product.