Lakota Hills Case
Entrepreneurship & Intrapreneurship
April 13, 2015
Lakota Hills Case
This essay is in regard to the “Lakota Hill Case,” a story about an entrepreneurial woman named Laura Ryan and her family’s effort at making a profitable business venture out of her home-made Indian fry bread. This essay will identify advantages and possible challenges of developing a specialty food business. It will consider whether or not Lakota Hill’s strategy is the best way to build a specialty food business. It will also examine other channels that could be integrated into the overall selling model and describe how Lakota Hills will make money. Lastly, this ...view middle of the document...
There are also going to be people on both ends of the spectrum who are either: willing to try something new or completely uninterested in trying something new. The specialty food does not have the advantage of being known or understood.
The Lakota Hills strategy does follow a productive path to starting a specialty food business, but it could use some other strategies. First of all, Mrs. Ryan was following a standard plan for starting a new food business, including: developing a prototype, testing it out on people, collecting and incorporating feedback, determining the market form she would like the product to have, determining the batch size needed for commercial operation and determining cost factors. Some possible items that were missing include: consulting a process authority to scale up the recipe, getting approval for the recipe, writing a business plan, considering liability insurance, considering a form for the business and registering the business with the state. She may have also needed help writing a marketing plan.
One aspect that was a setback to growing the business was the delayed success of getting into the grocery channel and once this was accomplished, the business encountered other setbacks surrounding the special nature of the product. Although Mrs. Ryan was determined to go through the grocery-retail channel in order to sell her product, she may have done well at finding another channel that could get her product directly to customers, thus saving a lot of time and money not pursuing grocery as a channel. One option available today would be the internet. There are lots of different websites where people can market and sell home-made food products directly to customers who are interested in their product, examples include: Foodzie and Etsy. However, downsides to these channels include state and federal health safety regulations for selling edible items that are produced in the home. Another viable option would be a food truck that she could distribute food around the nation, where ever she chooses. This may be a helpful way to get the product better known to the public.
Another option I think could...