Chop Wood, Carry Water
We’re set to scale — because we’ve done the ordinary but important stuff first.
Since starting Foodomnia I’ve met lots of interesting founders. People with more experience, better connections, and bigger brands on the CV. But over time I’ve learnt we all play on the same playing field — there is no greater equaliser than building a business.
An early stage business does not care for qualifications or connections. It only cares for actions taken to achieve stated goals. And always those actions involve huge amounts of heavy lifting. Start-ups aren’t sexy but they are real. It is the sheer graft, and the ability to keep grafting, that gets results in start-up land. Chop wood 🌲. Carry water 💧.
Founders naturally do much of the heavy lifting 🏋️ but they must also create a culture that inspires others to share the load. That’s leadership.
Of course it’s vital to graft in the right direction. You need the ability to sense the market, and the opportunities within. But even then — there is no guarantee. Business is about probability, and engineering the equation to provide the greatest probability of success. But graft is probably the most important factor.
Fundraising should only be part of the story
Many modern entrepreneurs have become financial engineers, with an ability to perennially fundraise — fundraising again and again, through ever more complex mechanisms, until something sticks. Fundraising is an awesome talent. And usually when you throw large amounts of money at anything you make an impact. Although that impact is not always sustainable (just like Man United 🔴 can’t seem to buy their way out of mediocrity).
I definitely believe in the power of capital (I was a banker in a former life); capital should be one tool in rebalancing the probability equation but too often it is the only tool — that leads to a situation where you end up with lots of stuff (eg an abundance of 10-min grocers) rather than lots of innovation. You should know what you’re building, and why, before taking big investment.
I’m fortunate to lead the team at Foodomnia — where we build meaningful food delivery brands. In this way, we stand alone amongst the digital restaurant groups across the world. We see no customer value in building 2-star, celeb-endorsed brands to occupy “spare capacity” in hotel kitchens. The world doesn’t need crap stuff; and why would anyone invest in a product where the customer never comes back? You can fool someone once but not twice.
We’ve only raised £150k — all pre-revenue. We used those funds to learn our trade — which includes, not excludes, generating profit. On industry multiples, we’re worth >50x funds raised; by comparison Deliveroo’s market cap is less than total funds raised (no I don’t think we’re better than Deliveroo 😀).
We’re scaling!
Now is time to scale what we do —and now is the time to fundraise. We’re excited to begin that process in the coming months as we look to build out our lead brand, Burgerism, and develop the rest of our portfolio. We’ll reach 4x sites by the end of summer and funds raised will be used to expand further (and faster). We have a grander vision beyond that, but we don’t get distracted.
Hospitality 🛎️ is perhaps the last industry to remain unimpressed by “fuck you money”. Why? Because you cannot financially bludgeon your way to great tasting food, authentic brands and a human touch (the stuff that consumers want).
Chop wood. Carry water. Raise funds. But then get back to chopping wood, and carrying water.
PS if you’d like to come chop wood with us, and scale and build a portfolio of genuinely great food brands please get in touch (you can apply here). We’re always open to hiring mission driven people who understand the potential of what we’re building.
PPS a rocket ship emoji for good measure 🚀
