This deck is about what it takes to build a natural foods brand; entrepreneurs need both passion and performance management leadership and long-term planning. I share examples throughout the natural foods industry. I originally shared this deck with a class at Cornell University's Johnson Graduate School of Management back in April 2013 (I'm an alumn). I have shared it at a few OSC2 gatherings since.

1. CORNELL ENTREPRENEURSHIP
REVISED FOR OSC2
WHAT IT TAKES TO BUILD A NATURAL FOODS BRAND
LARA JACKLE DICKINSON
JGSM ‘94

2. Passion & performancemanagement leadership
Both Passion and Performance management leadership are essential
to the long term success of an entrepreneurial business
• Passion defined:
• Belief that idea and product are essential and right for people
• Drive to create a business over any other opportunity
• Insight into a consumer group or business
• Performance management leadership:
• Delivering against goals and strategy.
• Accountability to goals. MBO’s link bonuses to goals.
• Strong, well defined hiring process
• New product development process
• Recognition
• Regular team building activities
Right size
Process to
the company
Lara Jackle Dickinson NPM Leadership & Growth Tools

3. What do we know about Entrepreneurs?
Pros
• Creative
• Innovative
• High passion
• Can see things other can not in
the marketplace
• Commitment to ideas and
values
• Opportunistic
• Seize the moment
• Do not take no for an answer
• Charismatic
• Great sales people
Cons
• Lack of process
• Not always great with
numbers
• High control
• Reluctant to delegate
Lara Jackle Dickinson NPM Leadership & Growth Tools

4. What do we know about Entrepreneurs?
• High on passion; but often challenged on performance
management leadership and long term planning
Lara Jackle Dickinson NPM Leadership & Growth Tools

5. The Energy Bar Story
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
1990 1995 2000 2005 2014
Revenues($MM)
Balance Bar
Clif Bar
Power Bar
Acquired

6. Passion vs. Performance Management
Clif
$50 m
Balance
$120 m
Power
$60 m
Balance
$69 m
Power
$150 m
Clif $400 m
2000
2013
Passion
Perf.
Mgmt.
++
+++
+++
++
++
+
Passion
Perf.
Mgmt.
+
+
+++
+++
+++
+++
Lara Jackle Dickinson NPM Leadership & Growth Tools

7. Lets take a look more broadly at the
industry….

8. Passionate, values driven brands hit a wall without
ongoing performance management leadership
$10 – 20 MM Wall
Small, fast
growth,
passionate,
values
$0
High Passion, but low focus on
performance management
Lara Jackle Dickinson NPM Leadership & Growth Tools

9. Passion and performance management at high
culture/high performancecompany– Cornell alums
–
All about making F’real a
great place to work. “We
spent at least 10 hours
with every person before
hiring and applied the
Monday Test.” NO
vacation policy. No
Product compromises
ever.” Jim Farrel, Founder
& CEO
My first hire was VERY
process driven because
I am not.
Bi-weekly meeting with
everybody to review
numbers; CEO actively
looks for positive
leadership example.
Lara Jackle Dickinson NPM Leadership & Growth Tools

10. Passion and performance management at
rising star companies – Cornell alums
“Owner mentality is
emphasized over and over
again. People come here
because they want to
change things - in a big way.
We give equity grants when
folks demonstrate
ownership. And we keep
Music blasting 12 hrs/day”
Josh Tetrick, Founder & CEO
“We have 2 goals we
all work toward and
every employee gets
a 10% bonus if we
achieve those goals.”
Lara Jackle Dickinson NPM Leadership & Growth Tools

11. Iconic brands maintain passion/authentic values and
continuously develop performancemanagementprocess
Passion
Rising Stars Iconic Brands (300 M+)
Duds Established Cash Cows
Performance Management Leadership
Lara Jackle Dickinson NPM Leadership & Growth Tools

12. Key features of companies with passion and
performance management leadership
Passion Vs.
Performance
profile
Key Features
High Passion,
Low Performance
Management
Long term growth cap, staff frustration due to lack of
process, lose good people, lack of planning=vulnerable
to challenge, quality control problems
Low Passion,
High Performance
management
Overly focused on system and process, lose connection
and intuition for consumer insights, slow decision
making, brand denigration, low staff retention
High Passion,
High Performance
Iconic brand potential, continuous growth opportunity,
high staff retention