Meet Philip Linardos, co-founder of ShelfNow
I’m Philip Linardos, CEO and co-founder, ShelfNow. I have always worked within startups, from scaling operations to new business development. I have been fortunate to be involved in every stage of the process and have gained a truly 360 degree understanding of what it takes to build a successful startup.
As a result, challenging and rethinking dated business models is important to me. I see myself as now being on a journey to disrupt the food wholesale industry through the harnessing of marketplace efficiencies and data science.
There’s always a lightbulb moment before the beginning of a new venture. What was that moment for you?
For us, championing small, independent producers and connecting them with buyers is at the heart of what we do. We realised that many small food & beverage producers simply don’t have the time or resources to research and target their sales effort and it’s a similar story for many buyers when it comes to identifying and purchasing new or speciality products. We became convinced this was a significant problem after speaking with over 1,000 businesses and realised there was a need to help facilitate this trade. Food & beverage wholesale is a huge sector (in the EU it has a turnover of over €100bn alone), and we’ve found that smaller businesses account for around 50% of this revenue, which also convinced us that there was a significant opportunity in helping small businesses trade more efficiently and profitably with each other.
How do you set yourself apart from other businesses in your industry?
Traditional wholesale can be expensive for smaller businesses and we’re all about reducing intermediation costs by utilising our marketplace technology which is built specifically for food & beverage products and around the needs of smaller businesses. We developed Europe’s first intelligent B2B marketplace which is open in both directions for sellers and buyers to discover each other. This focus enables us to give the power back to small businesses by letting the sellers and buyers meet and engage in direct negotiation whilst we provide security, assurance of the trade and all the infrastructure to manage orders, payments and logistics where needed.
An example of our brand ethos in action is our recent work with the Caffè Barbera franchise & oldest coffee roasting company in Italy. Our relationship with the Barbera team goes back to 2020 and the height of the pandemic when our discussions with the team revealed that they were looking for a UK wholesaler partner who could help them source healthier food and drink products as they begin to open stores across the UK for the first time. We were able to recommend a wide range of innovative products from our marketplace, as well as introduce the coffee of Caffè Barbera to a range of international buyers. This was a great example of transparent and highly cost-effective trade between producers and buyers across borders who were completely new to each other, all facilitated by ShelfNow’s technology and team.
What plans do you have for ShelfNow over the next two years?
ShelfNow was created to help retail buyers discover the beauty of independent brands at a reduced distribution price. We are now in the process of building a key capability which is the introduction of machine learning algorithms that will provide a better user experience. ShelfNow places enormous emphasis on understanding the profile of our partners – both sellers and buyers. Introducing machine learning will allow ShelfNow to deliver a curated marketplace and understand our partners better so that we can recommend the products that are the most relevant and potentially profitable.
As our platform grows, we will be able to acquire enough trading activity and data points to launch multiple data science products. These products will enable us to launch multiple solutions including giving trade buyers access to relevant procurement, discovery and product-level insights.
Over the next few years, our plan is very much to leverage our products through the use of data to help expand our base of buyers. At the moment, our buyers are mostly UK based but as we look ahead to the coming months, we have ambitions to extend ShelfNow’s reach into the rest of Europe and also other regions, such as the Middle East, which is something we are exploring further. We envision ShelfNow developing into a truly ‘self-sufficient’ business model with machine learning and data insights driving its evolution in the future.
How important is company culture and what is your top tip to get it right?
Having a strong company culture is really what improves the business performance by motivating employees. I believe that the biggest advantage of a strong company culture is that it transforms your employees and makes them into advocates. It also attracts and retains talent in the business. Employees don’t just look for a good pay-check, but they also want to seem like they have great importance to the business and that they matter. A great way to achieve this is by recognising good work and celebrating their success. Employees feel appreciated when their hard work and achievements are being recognised which also acts as a form of motivation to grow and do even better. Furthermore, ensuring there’s a good balance between out of office social interactions and day to day work is really important to maintain a good company culture.
Organising social events outside the office helps to nurture relationships and make new connections. Employees get the chance to see their colleagues and leaders in a different light which can also help to break down any barriers between them.
What’s the single most important decision that you made that contributed to your business?
Since founding the company back in 2019, we have found that making a targeted decision on the type of customer we want to attract has been crucial in allowing the business to grow further. Through identifying our target customer and then segmenting this base, we have been able to focus on our target buyer which has, in turn, helped us to streamline our mission as we continue to grow. In addition to this, we’ve quickly realised the importance of always being able to adopt a reactive approach when needed. At the height of the pandemic last year, we made the decision to allow our suppliers to sell directly to individuals, households and the NHS as the retail sector became overwhelmed and stockpiling was at its peak.
How do you believe the evolution of tech will affect your industry over the next 10 years?
Right now, we are seeing disruption take place across all sectors and the shift to digital taking place at speed. Within the food and beverage sector, we firmly see all shopping, procurement and selling eventually being carried out online only with a new generation of hires in the industry also helping to propel this change. This evolution will soon present some interesting opportunities for areas like logistics which will be influenced by data science at both buyer and consumer levels. As data insights go on to inform and power buyer behaviours, we see ShelfNow becoming a more hyperlocal platform which will ultimately favour sustainability and help us to become even closer to our buyers.
What are your top three tips to hire and develop new talent?
In the first instance, having a solid personal connection with new hires is key, as well as ensuring you spend time getting to know one another. Developing relationships with potential candidates long before you need them as an employee is also another great way to hire the right talent as when a new vacancy becomes available you then immediately have an idea of exactly who you want to recruit. Secondly, hiring and developing new talent is also dependent on the candidate’s previous experience and it’s a good idea to try and take on new hires who have a relevant background and experience in your industry - for us, this is in the food & beverage and retail sectors. Lastly, a candidate’s ability to respond well to change and uncertainty is also another factor that’s crucial in helping to develop new talent. If your new hire is able to perform well when ‘thrown in the deep end’ as it were, then it’s a strong indication that they’re a suitable fit for your company. This is particularly important for any startup which is more often than not under-resourced.
What’s the most important question entrepreneurs should be asking themselves?
It might sound simplistic but just honestly asking yourself “what am I good at, and what am I not so good at?” is something that I have found to be invaluable as I started out on my journey at ShelfNow. Focusing on the latter and spending time trying to improve your weaknesses is key and one way you can carry this out is through hiring individuals whose strengths lie in these areas.
I also believe that listening to your customers and not being afraid to adapt your business as their needs evolve is crucial. Entrepreneurs should always look for ways to engage with their customers and so making sure you are regularly asking them questions about different aspects of your business is highly important.
What’s the biggest lesson you’ve learnt so far as an entrepreneur?
Without a doubt, the single biggest lesson I have learnt up to now has been how can I optimise myself and become the best version of myself. As the first major resource in a company, entrepreneurs need to constantly be thinking about how they can continue to bring value to their roles. In addition to this, it’s extremely important to closely consider your choices of individuals for other areas like your boards of non-executive advisors and investors who all play critical roles and act as vital soundboards.
What are your top tips for entrepreneurs wanting to get their business out there?
I would say my number one top tip would be to make sure you surround yourself with the right team of people who can help you on your journey and remedy your weaknesses through their skill sets. Within this, working alongside a co-founder who complements your ways of working is also another huge help as your business takes off.
