On About Money and here on the blog we have discussed sitting down with your financial advisor and looking over your portfolio. Often when doing so, people’s vision is too small. Many of us only look at the short term – the immediate returns. I believe we need to focus on long term, well thought out investing.
Successful portfolios, like successful businesses, are managed with a firm understanding of the past and a thoughtful eye towards the future. Beating the market is not a guessing game. It involves looking at where there are needs, finding cutting edge companies which serve these needs, and investing in those companies.
Likewise, successful businesses see a need in the market and find a cost efficient way to fill it. For example, nanoICE is revolutionizing how our fresh food is processed and brought to market.
Craig Rominger, CEO of nanoICE, recently joined me for the second time on About Money to explore how nanoICE is extending the shelf life of our fresh food.
What is nanoICE? “The best way describe it is tiny ice cubes. You can fit 300 of them on the tip of a human hair. This is important because when it comes to direct contact cooling, surface area is one of the biggest effectiveness factors of ice,” said Craig.
As a company, nanoICE can be used in several different applications including poultry, livestock, seafood, and fruits and vegetables. To ensure they don’t stretch their resources too thinly, they have chosen, for the moment, to focus on seafood and fruits and vegetables.
(This is a great example of a company making a thoughtful decision as they look and plan for future success. By focusing on a just a few applications, they can ensure high quality results.)
How effective is nanoICE? In a recent test preformed in Eastern Washington, nanoICE was used to cool cherries during harvest. By adding this one step to the harvesting process, there was a 35 percent shelf life extension.
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