On a webinar hosted by Gary Hirshberg in May, Wayne WU of VMG Partners pointed to a common problem before the pandemic. “[Brands chasing a pre-determined exit] are generally not the best brands to invest in because … they haven’t focused on surprising and delighting consumers.
Given the supply chain costs post-pandemic, the flame-out threshold may have actually lowered since the research that went into my book. Not sure. Many entrepreneurs think they have the next Big Thing. You kind of have to believe this to push through the unceasing firehose of
The face-to-face social bonding aspects of trade shows stand out to all of us as the most irreplaceable feature of the trade show. But do we need after-parties and cocktail events to move our businesses forward? Really? How many warm relationships become 'hot' after 10
"How we first communicate with the world is the work we do with a branding agency" TJ McIntyre, CEO of Bobo's What are the core functions of a branding agency? Packaging and brand identity (Logo, trademark, characters/mascots, color schemes, and other brand symbolism) are the
Folks new to the industry often get shocked when they start uncovering how much some design firms will charge to re-do their package graphics, essentially. A considerable strategy fee (for what?). Some kind of brand/visual identity fee (OK). A whole lot per UPC/SKU (penalizing a
By the time private equity is ready to invest in you (>$10M trailing), you should already have an intermediate, if not veteran, understanding of CPG finance, route-to-market options, etc. You probably are already competent enough to persist. You just need to take the team’s discipline
It’s not uncommon for new consumer brands in retail to get caught up in a B2B mindset where founders unwittingly outsource sales strategy to brokers. Then, they’re basically managing the package graphics supply chain and a co-manufacturer. This situation describes at least ¾ of the businesses
Startups are supposed to be scrappy, opportunistic, and always hustling. Their agility is their superpower, right? Who has time for planning anything more than the supply chain? Why bother setting a comprehensive strategy as long as we're growing? As long as customers keep pouring in?
The vast majority of consumer startups selling in retail get lulled into operating as a B2B company, even though they make products for the end consumer. This is because the initial data they manage concerns distributor case sales and retail account sales. They have no
As you move farther up the Ramp, the risk of losing focus grows. Why? Well, now you have the cash to entertain all manner of distractions you quickly ignored early on: adding lots of new UPCs, extending into new categories, paid marketing in dozens of forms, national