NI: What has the business been up to since winning Start-Up Stars?<\/p>\n
Tyrone Faverey (TF): We\u2019ve grown beyond our nootropic pre-workout and put a lot of our energy into launching NH2O, our zero-sugar, non-carbonated functional hydration beverage.<\/p>\n
People need hydration throughout their day. They\u2019re training, working, traveling and going out with friends. We\u2019re building New History around that whole lifestyle, and NH2O has given us a way to reach people in more of those moments.<\/p>\n
We\u2019re at roughly 50 live accounts, with growth happening in New York and Boston. We\u2019re also putting more focus on bars, restaurants and nightlife. I\u2019m excited about giving people a hydration option they actually want to order when they\u2019re out.<\/p>\n
Behind the scenes, we\u2019ve been growing the team, updating packaging and working through what it takes to support that growth.<\/p>\n
NI: What impact did winning have?<\/p>\n
TF: It gave us credibility and brought more attention to what we were building at that stage. When you\u2019re a young company, you\u2019re constantly introducing yourself and explaining why people should pay attention. Having NutraIngredients recognize our work carried weight.<\/p>\n
It gave us a strong piece of our story to share when speaking with potential partners and people in the industry. It also meant a lot personally. You put so much time, money and energy into building something, and that recognition gives you a moment to appreciate how far you\u2019ve come.<\/p>\n
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“Even with the changes in the business since then, it\u2019s still an important part of my journey as a founder,” said Tyrone Faverey, CEO\/Co-Founder, New History, LLC. (NutraIngredients)NI: What was the most valuable part of participating?<\/p>\n
TF: The people we met were a big part of it. We found investors and advisors at the event, which was a big deal for us. As a founder, you\u2019re always looking for people who understand what you\u2019re building and can help you move it forward. We made those connections there.<\/p>\n
It also gave us the opportunity to explain our vision to people who understand the industry. You spend so much time handling the next problem that you don\u2019t always step back and look at the bigger picture. The experience gave us a reason to do that and get clearer about our customer, our products and where we wanted to take the business.<\/p>\n
What\u2019s stayed with me is that the recognition still matters as we grow. A lot has changed, but it\u2019s still an accomplishment I\u2019m proud of. Finding investors and advisors through the event made it even more valuable.<\/p>\n
NI: What have been the biggest challenges, and how have you navigated them?<\/p>\n
TF: Cash flow and production have been big ones. A beverage business gets expensive quickly. You\u2019re paying for ingredients, cans, manufacturing and freight before that inventory brings money back into the business. Lead times add another layer.<\/p>\n
We\u2019ve had to be thoughtful about when we produce, where we expand and which opportunities we can realistically support. There are plenty of exciting opportunities, but we have to make sure the numbers and timing work.<\/p>\n
We\u2019re also putting more attention into what happens after we get into an account. We need to help the product move, support the people selling it and earn the reorder. That\u2019s where a lot of our work is going right now.<\/p>\n
NI: What\u2019s next?<\/p>\n
TF: Our focus is growing New History, with NH2O leading that next chapter. We\u2019re working on additional production, expanding retail and hospitality relationships, and pursuing opportunities through UNFI\u2019s marketplace.<\/p>\n
I\u2019m particularly excited about the hospitality side. I want someone to be able to walk into a venue, see NH2O on the menu and feel good about ordering it.<\/p>\n
We\u2019re also exploring pre-workout stick packs. Convenience matters, and we want our products to fit naturally into people\u2019s routines.<\/p>\n
There\u2019s a lot we want to do. Right now, the priority is building a strong business around the products we already have.<\/p>\n
NI: What advice would you give to start-ups considering applying?<\/p>\n
TF: Go for it. Be prepared, but don\u2019t talk yourself out of applying because everything isn\u2019t perfect.<\/p>\n
Know your product, know your customer and know your numbers. Be able to explain why someone would choose what you\u2019re selling and why they would come back for it. Be honest about where you are and what you\u2019re still working through.<\/p>\n
Make the most of the experience, too. Ask questions, meet people and follow up. You never know which conversation could become valuable down the road.<\/p>\n
Thanks again for including us. I appreciate the opportunity to share what we\u2019ve been working on. <\/p>\n
Could your start-up be the next Start-Up Star?<\/p>\n
The journey doesn\u2019t stop when the spotlight fades. As our latest Start-Up Stars success story shows, being recognized can help put emerging businesses on the radar of industry leaders, investors, and potential partners. <\/p>\n