Transforming a Company: From Warehouses to Tech with Food Maven's CEO Ben Deda

Join host Michael Mitchel as he welcomes back Ben Deda, CEO of Food Maven, for a revealing look at the company's four-year journey. Explore key milestones, strategic shifts, and insights into navigating challenges in the food industry. Gain valuable lessons in leadership, resilience, and adaptability while gaining optimism for the future of Denver's startup ecosystem.

Full show notes and resources: https://ocns.co/podcast/

Key highlights include:

• Strategic Evolution: Ben Deda outlines Food Maven's strategic shift towards a tech-centric model, reflecting on their trajectory over the past four years.
• Tech-Driven Solutions: The episode explores Food Maven's transition into a technology-driven provider, spotlighting the introduction of their Procurement API.
• Navigating Stakeholder Dynamics: The intricacies of managing stakeholders amidst uncertainty and transformation, emphasizing effective communication strategies.
• Market Fit and Resistance: Reflecting on industry challenges, Ben highlights strategic shifts made to align with market demands, overcoming resistance to change.
• Investor Relations: The importance of investor buy-in during strategic pivots and setbacks is discussed, shedding light on managing expectations.
• Lessons Learned: Insights gleaned from Food Maven's journey, stressing the significance of adaptability and maintaining a clear business narrative.
• Leadership Traits: Drawing from experience, Ben elaborates on essential leadership traits and decision-making skills crucial for navigating uncertain environments.

Timestamps

• 00:00:00 - Introduction
• 00:01:41 - Challenges Faced During the Pandemic
• 00:02:11 - Growth Strategies and Acquisitions
• 00:03:14 - Impact of COVID-19 on Fundraising Efforts
• 00:04:07 - Transitioning to a Tech-Centric Business Model
• 00:05:16 - Introduction of Food Maven's Procurement API
• 00:06:27 - Challenges and Opportunities in Food Procurement
• 00:07:32 - Transformation from Tech-Enabled to a Tech Company
• 00:09:15 - Managing Stakeholders and Communication Strategies
• 00:14:48 - Strategy evolution and go-to-market approaches
• 00:16:24 - Overcoming challenges in stakeholder engagement
• 00:17:39 - Industry resistance to change and finding the right market fit
• 00:18:43 - Dealing with investor expectations and buy-in
• 00:19:31 - Lessons learned and the importance of creating optionality
• 00:20:27 - Gaining wisdom and skills through experience
• 00:21:04 - Leadership traits and decision-making in uncertain environments
• 00:22:22 - Reflections on Denver Startup Week and adapting to changing community dynamics
• 00:25:15 - Goals and considerations for the future of Denver Startup Week
• 00:27:00 - Building optionality and maintaining a clear narrative in business

Thank you to ACG Denver for being a sponsor of CXO Conversations Podcast. Association for Corporate Growth in its role as the hub of the middle market business community for quality networking, education and events. Connections are made, deals are formed and thought leadership is exchanged.

Enjoy the show? Leave us a review on iTunes – thanks!