The co-founder of the company that creates plant-based foods came to settle in Chile until he met his business goals. “Getting to this point (profitability) requires sacrifice, focus, arduous decisions, but it is also a sign that we are building something that is not only innovative, but also sustainable,” he said.
Matias Muchnickco-founder and CEO of NotCorealized the dismissal of 11% of the company’s staff.This, with the aim of simplifying, lowering costs and “stopping doing many things at the same time.”
Despite how this data may be considered, Muchnick emphasizes that this decision has nothing to do with financial problems. “We have US$100 million in the account, we are super comfortable, we are not under any solvency pressure or existential risk”said.
“We want to make today the company that it will be in four years, that is, make it profitable in all its areas: B2B and mass consumption. that is the goal, but if we don’t start now we won’t achieve it“he explained to The Mercury.
“Getting to this point (profitability) requires sacrifice, focus, difficult decisionsbut it is indeed also a sign that we are building something that is not only innovative, but also sustainable,” he said.
“Being profitable gives us control over our destiny. Relying less on external investment gives us the freedom to make strategic decisions thinking about the long term.instead of being conditioned by the next quarter or the next round,” he indicated.
To become profitable, in 2025 its commercial objectives will be to compete strongly in the snacks segment and strengthen its B2B business unit. For this,Muchnick maintained that “I am coming to settle in Chile and I do not plan to leave until Cono Sur achieves profitability.”
2024-12-07 20:30:00
what challenges did NotCo face in its journey towards profitability in teh plant-based food industry?
Interview with Matias Muchnick, Co-founder and CEO of NotCo: Building a Enduring Future in Plant-Based Foods
Editor: Matias, thank you for joining us today. Let’s dive right in. You mentioned in a recent interview that achieving profitability requires sacrifices and difficult decisions. Can you elaborate on what this journey has looked like for NotCo?
Matias Muchnick: Thank you for having me. the journey to profitability has indeed been challenging. It’s required us to focus intensely on our goals and make pragmatic decisions. Recently, we had to dismiss 11% of our workforce. While this might seem alarming, it is part of a larger strategy to simplify our operations and lower costs. We are committed to building somthing innovative and sustainable, and sometimes, making hard choices is essential for the greater good.
Editor: You highlighted that these decisions aren’t due to financial distress. In fact, you mentioned having $100 million in your account. How dose strong financial backing influence your decision-making process?
Matias muchnick: Having a solid financial foundation gives us the freedom to make strategic decisions without the pressure of external investments. This allows us to focus on our long-term goals rather than chasing short-term results. It empowers us to remain committed to our vision and makes the decisions we make today more impactful on our future.
Editor: Speaking of long-term goals, can you share some insights on how NotCo plans to achieve profitability across its B2B and mass consumption areas?
Matias Muchnick: Our plan for 2025 is to compete more robustly in the snacks segment while strengthening our B2B buisness unit. We believe there is notable potential in these areas. We aim to be the company that we envision for the future, serving both business customers and consumers effectively. It’s about building a coherent strategy that aligns with our goals.
Editor: You’ve committed to remaining in Chile until NotCo achieves profitability in the Southern Cone.What role does local focus play in your strategy, especially regarding sustainability and innovation?
Matias Muchnick: Settling in Chile is crucial for us. It allows us to be closer to our market and consumers, ensuring that we can continually adapt our products and strategies based on local needs. By staying local,we also support sustainable initiatives that resonate with our brand’s mission. Our focus on the region aligns well with our goal of building a business that prioritizes sustainability and provides innovative plant-based solutions.
Editor: With an ever-growing competition in the plant-based food sector, what practical advice can you share with aspiring entrepreneurs in this field?
matias Muchnick: My advice would be to maintain a strong focus on your vision and goals. Be prepared to make difficult decisions along the way and prioritize sustainable practices in your business model. Ensure you build a robust financial foundation early in your journey, as it will provide you with the freedom to innovate without constant outside pressure. Lastly, always listen to your consumers and market trends; adaptability is key to thriving in this competitive landscape.
Editor: Thank you, Matias, for sharing these valuable insights. It’s inspiring to see NotCo’s commitment to building a profitable and sustainable future in the plant-based foods industry.
Matias Muchnick: Thank you for having me. I’m excited about what lies ahead for NotCo and the broader plant-based industry.