Advice Line with Pete Maldonado and Rashid Ali of Chomps

Key takeaways

Understand the current market trends and consumer behaviors in your industry.
Crisis management is crucial; prioritize customer safety and brand integrity.
Don't rush into large retail partnerships without understanding your product's demand and market viability.
Focus on your core offerings while exploring new opportunities for growth.
Engage and lean on your community for support and feedback in business.

Summary

Introduction and Overview

In this episode of the Advice Line on How I Built This Lab, host Guy Raz welcomes back Pete Maldonado and Rashid Ali, co-founders of Chomps, to provide insights to early-stage entrepreneurs seeking advice. The episode emphasizes community, support, and the realities of building a business.

Addressing Challenges in Business

The discussion transitions to various callers who share their unique business challenges. Yari, from Yari's Artisanal Empanadas, discusses her growth strategy on a college campus, while Zachary of Noble Pies seeks tips on breaking into larger retail markets. Josh from Achigan expresses his desire to turn his niche fishing apparel brand into a full-time venture.

The Protein Market Boom

Pete and Rashid reflect on their entry and ongoing presence in the protein market, noting the explosion of protein-infused products. They discuss market trends and the potential for fatigue around protein products, while emphasizing the need for quality natural sources.

Crisis Management and Brand Integrity

A significant portion of the conversation centers around a past crisis involving a recall due to contamination fears. Pete and Rashid detail the steps they took to ensure customer safety, emphasizing their commitment to integrity and customer trust, which ultimately strengthened the brand.

Advice for Entrepreneurs

The episode rounds out with practical advice for budding entrepreneurs. The importance of understanding market dynamics, managing risk, and maintaining a focus on core offerings is underscored. The hosts encourage listeners to remain agile and quick to adapt in a rapidly changing landscape.

Show notes

Today’s callers: Yadi from New York thinks through an expansion strategy for her college campus-based empanada business. Then, Zachary from New York looks for ways to break into big retailers with his fresh-made frozen pies. And Josh from Indiana wonders how to go all-in on his small mouth bass lifestyle brand without overhauling his family’s lifestyle.
Plus, Pete and Rashid reflect on the ‘protein-ification’ of our food, and how a scare last year reaffirmed the importance of doing right by the customer — no matter the cost.
Thank you to the founders of Yadi’s Artisanal Empanadas, Noble Pies, and Achigan for being a part of our show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Chomps founding story as told by Pete and Rashid on the show in 2023.
This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Jimmy Keeley.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.

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