Rebeca Krones Interview, Making Money out of Honey!

By: Michael Dunlop     Topics: Blog

Hi Everyone,

Today we have something a little different – an interview with a ‘bricks and mortar’ entrepreneur – Rebeca Krones of Tropical Traders Specialty Foods. Rebeca is based in Oakland, CA and Captain Cook, HI.

Rebeca makes a great point that the only way to succeed long-term in your own business is by setting your company’s vision, mission and goals early-on. These values must permeate each decision made in the company. When you are living your values through your business, the alignment is evident.

Enjoy the interview — I have to say that I am now looking at Bee’s and Honey in quite a different way.

Thought For this interview:

No bees, no honey; no work, no money ~ Proverb

Your comments are always welcome.

Best wishes

Michael

Rebeca Krones Interview

“I am motivated by my company’s vision: To connect to and nurture small farmers and their families by creating a profitable business that supports an equal distribution of wealth. I am inspired by small farmers everywhere, who are some of the most tenacious, creative and positive-minded humans on the planet.”

Hi Rebeca, thank you for agreeing to this interview, it is great to have you sharing your knowledge.

1) Firstly, You are the owner of Tropical Traders Specialty Foods – tell us how the company formed and what made you go into this niche?

Tropical Traders was founded in 2005, when I was 27 years old. I co-founded it with my partner, Luis Zevallos. We saw a growing trend in the U.S. market for foods that are produced authentically, and that engage the consumer through a transparent production story. By transparent I mean giving the consumer a clear idea of the WHO and HOW behind what they are eating. Who is the producer? How do they make the product? The answers to these questions connect the consumer to their food.

My dad, Michael Krones, is a beekeeper on the Big Island of Hawaii. His company, the Hawaiian Queen Co., produces queen bees for export and three varietals of honey. At the time we founded our company, my dad sold all the honey he produced to honey packers on the U.S. mainland. It then was blended with many other honeys from different locations and processed into the rather bland squeeze-bear type honey found on many supermarket shelves.

Luis and I decided the honeys that the Hawaiian Queen Co. produced could be sold at a better value to the farmer (my dad) if we were to create a brand for them ourselves, and engage our future consumers by sharing our story with them. Thus, the Royal Hawaiian Honey brand was born. My dad went through the arduous task of getting the honeys certified as organic, further elevating the honey’s value. Now, my dad still harvests the honeys on our farm, but sells them exclusively to my company, Tropical Traders. Luis and I travel to the Big Island three times a year during harvest, and pack the honeys ourselves. This means we own the product from hive to bottle, and can guarantee its quality.

2) royalhawaiianhoney.com focuses on premium raw and organic honey, which is definitely a micro niche – how do you reach your target audience?

We do a lot of in-store demos so our customers can actually taste the product. There is nothing like allowing the customer to try our Hawaiian honeys, because they are really able to experience the difference between a raw, single-source varietal and a generic honey brand.

3) Can you share some of the biggest lessons you have learned personally and as a business as Tropical Trader Speciality Foods has grown? If you were to start again, what might you do differently?

I have learned that the only way to succeed in owning your own business is setting your company’s vision, mission and goals early-on, all of which need to be based on your (an your co-founders’) personal values. These values must permeate each decision made in the company. When you are living your values through your business, the alignment is evident. This creates trust within the company and between you, your product and your customer. Contemporary consumers are extremely skeptical, especially when it comes to the food they put in their bodies. Therefore, our most precious asset is integrity. That is what will make the difference between a consumer choosing our honey over another.

4) What next for you and your company? Where do you see the business in say 5 years time?

Our goal is to have solid distribution of our raw, organic honey nation-wide.

5) Your father is a beekeeper which makes this very much a family business! Could you tell us the pros and cons (if there are any!) of working with family?

Pro: I think about all the memories that I am creating between myself and my dad as we work together. We spend a lot more time together than most fathers and daughters. This makes having my business even more important and special to me.

Con: I really can’t think of any cons- our family business relationship is very beneficial to all parties.

6) Do you have any suggestions for coping with set-backs, negative experiences?

Get outside of your regular or daily co-workers, and discuss the situation with other entrepreneurs. Even if those entrepreneurs are from a different industry, you would be surprised how much you can glean from other business-owners experiences and wisdom.

7) How do you keep your business focus – Do you have any suggestions for entrepreneurs who are experiencing challenging times?

Review your company’s vision, mission and goals; and business plan. Revise. Repeat. Make a budget and stick to it! Review your company’s quarterly spending against your budget and see how you are measuring-up. Revise.

8 ) Is there anyone that you look up to and model yourself on?

I look up to my dad for simply “making it happen” and to my Small Business Development Center adviser, Anni Minuzzo, for her dedication to our company’s success and for sharing her business savvy.

9) How much of your marketing effort is focused online?

A great part; our Web site is extremely important!

10) What is the best advice you have ever been given?

I was once told:

“To Have a great day. It’s up to you!”

I think this is extremely important to remember, all the time. The success of my business is up to me. If something isn’t working, look for another solution. I believe this is what many entrepreneurs share: an indomitable spirit.

11) As someone who has achieved success at a relatively young age, what advice would you give to a Young Entrepreneur starting their first business today?

Take as many classes at your local small business administration as possible. Find a solid funding source to start your business with, and know you can count on that cushion for at least three years. Become a total expert on your field; and always keep on learning how your industry is evolving by reading and keeping in touch with colleagues.

Thank you Rebecca for your insights