PET Food Processing - September 2022 - 52

OPERATIONS
In fact, Shanley noted this as one of the keys to a successful
growth strategy.
" We have always had good support at every stage of
our growth, " he said. " We had strong support in the early
days from friends and family, we took on growth capital
at the right time and now have a great relationship with
our bank to help us manage working capital. "
To develop its strategy, Better Choice Company intentionally
partnered with external groups that brought
new perspectives to the pet industry.
" In our case, that meant working with marketing and
design agencies that weren't afraid to think outside the
box, " Lerner said. " Applying this example more broadly,
look for partners that share and are passionate about
your vision, and try to structure commercial relationships
that line up with long-term business goals. "
He also noted that having channel experts in-house is
Better Choice
Company delayed
its decision to bring
the TruDog brand
under its Halo
portfolio until it was
ready to rebrand
the company and
its mission.
Better Choice Company
cash reserves on hand to avoid multiple raises, even if
this means it might be slightly more expensive, " he said.
" Also, make sure that you and your capital partners
share similar expectations for growth and risk tolerance.
Many high-growth businesses have failed due to capital
partners setting unrealistic expectations for growth that
ultimately lead to risky decisions. "
On the flipside, keep in mind that a cheaper cost of
capital often means more control and less risk for an investor,
which may hamper a founder or management
team's ability to seize a market opportunity, Lerner added.
A smaller company will often need to look for outside
help, be it from friends, other businesses or lenders, as it
plans its growth.
a key to growth and, in the company's case, developing
channel-specific strategies has been a fundamental key
to success.
" If you have a small team, you can utilize external
parties to help drive success, but a focus on continually
building strong relationships with key partners to jointly
drive growth is something that third parties can't replicate, "
he said. " Strong partnerships with aligned incentives
often translate to high growth. "
Developing skills
Growth won't happen overnight, which is why having
a plan in place is a great way to ensure you are hitting
growth marks at certain intervals.
MOISTURE MEASUREMENT IN PET FOOD
NIR TECHNOLOGY - Non contact, non destructive
measurement process
ENSURE OPTIMUM EFFICIENCY - Precisely control the
manufacturing line with small adjustments
IMMEDIATE BENEFITS - Immediately see a decrease in
waste & energy and increases in efficiency & quality
INSTANT ROI - Instantly gain back the investment in
product savings & human error reduction
www.moisttech.com 941-727-1800
52 PET FOOD PROCESSING | September 2022 | www.petfoodprocessing.net
http://www.moisttech.com http://www.petfoodprocessing.net

PET Food Processing - September 2022

Table of Contents for the Digital Edition of PET Food Processing - September 2022

PET Food Processing - September 2022 - Intro
PET Food Processing - September 2022 - FALSE COVERa
PET Food Processing - September 2022 - FALSE COVERb
PET Food Processing - September 2022 - 1
PET Food Processing - September 2022 - 2
PET Food Processing - September 2022 - 3
PET Food Processing - September 2022 - 4
PET Food Processing - September 2022 - 5
PET Food Processing - September 2022 - 6
PET Food Processing - September 2022 - 7
PET Food Processing - September 2022 - 8
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https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2021
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https://digital.petfoodprocessing.net/sosland/pfp/2019_12_01
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https://digital.petfoodprocessing.net/sosland/pfp/2019_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_03_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_03_01
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