Ep. 188 - Food Business Advice from a Serial Global Food Entrepreneur with Robert Jakobi, CEO and Founder of Bou Brands

Robert Jakobi is a serial food entrepreneur who founded Metcalfe, Itsu, and is now CEO and Founder of BOU, a company reinventing bullion.

What makes Robert’s story so fascinating is that he made successful companies in two different countries. Originally from the United Kingdom, he built Metcalfe and Itsu, and now is growing a successful bullion company right in the United States.

You’ll get a great overview of Robert’s history, on all three companies that he’s built or is building, and then we dive straight into dissecting his whole story, so this episode is structured a bit differently, because you’ll hear everything upfront and then we get into the heart of what makes a successful food business.

You’re going to get some amazing advice no matter what stage of a business you. You’ll get advice on how to start a company, what to do with your money whether in the Seed round or the Series A round, and being at the right place at the right time, but finding the pattern to turn an old category on its head.

Robert Jakobi is the CEO and Founder of BOU, the innovative food company bringing joy back into cooking with its versatile range of bouillon, gravy and miso broth cubes, and instant soup cups. A serial food entrepreneur, Robert was previously the CEO and Co-Owner of Metcalfe’s Food Company, which he launched with renowned entrepreneur Julian Metcalfe (itsu and Pret-a-Manger) in 2010 and quickly turned it into the fastest-growing privately-owned food and drink company in the UK. In 2015, they launched their spinoff brand, Metcalfe’s Skinny, a leading premium popcorn brand which was acquired by Snyder’s (owner of Kettle Chips) in 2016.

In May 2017, Robert launched BOU in the US with COO Kunal Kohli, disrupting a section of the supermarket that had not seen innovation in decades. An overnight success thanks to major stockists such as Amazon, Fresh Direct, Wegmans, Wholefood, Krogers, Walmart and 6,000 more retailers, BOU encourages people to rediscover the joy of cooking with its convenient cubes full of big, bold flavors that are US-made with non-GMO and no artificial ingredients. To date, BOU has raised $7.8M with backers including Nebari Ventures, Andy Gellert (Gellert Group) and Shelly Stein (Southern Glazer’s Wine and Spirits). Robert holds a Bachelor of Arts majoring in Economics from the University of Pennsylvania.

We’re excited to be partnering with Smart Kitchen Summit {SKS}, the leading food tech event bringing together leaders across the food and cooking ecosystems.

Now in its fifth year, #SKS2019 is *the* conference shaping the future of food, technology, and the kitchen. Well-known leaders within the food tech industry will all be speaking on engaging topics such as food robots, alternative protein, and connected kitchen devices such as smart refrigerators.

Trust us, you’ll want to be there. Use code FOODJOB15 to get a 15% discount on tickets and I’ll see you there on October 7-8 at in Seattle. Just go to smartkitchensummit.com to register. For easy access, just click on our link for this episode’s show notes.

Wharton in Penn
Barclay’s Capital in New York
PODBites
Pret a Manger
Metcalf Food Company
Metcalfe Skinny
HouliHand Lokey
Diamond Foods
Snyder Lance
Itsu and Itsu Grocery
Boullion Cube
When did you start feeling entrepreneurial?: At Penn, I started a nightlife promotion company
Also Fashion Retail
What’s the difference between the UK and US market?: Quite a few things. US is a great opportunity but it’s very crowded
How did you get rid of the noise?: There are a  ton of different pieces. You need a great product and savvy marketing. For example, social media, trade shows
What are the big challenges for brands?: New media and channels will be introduced and new competition will always show up. The right people and the right systems matter in this business.
How do you spend money on your business?:
Pre-Series A: Design and Product and Product-market-fit
Series A: After we launched in Whole Foods: Money to support the brand scaling nationally. Bigger and better marketing programs
Consecutive Series help grow the brand
What advice would you give a budding food entrepreneur?: Believe in yourself and don’t be scared of failure. Go with your gut. It might not work because there’s so many things that build a brand. Really believe in yourself and your ideas.
Having the ability to listen well is super important
My Food Job Rocks: I get to work with smart, passionate people
What type of food trends and technologies are exciting you right now?: Trends that last. Anti-examples: Cricket. Examples: protein, popcorn, etc.
What are your thoughts on innovating ramen?: It’s happening. Asian is hot right now and we havea  Miso version. Our products have better-for-you
Vertical Integration: Our manufacturers are our cofounders
Favorite Quote: Winston Churchill: We shall fight….. We shall never surrender
Where can we find you for advice?: [email protected] I’m always reachable and happy to chat.