I did 3 tech startups - sold 1 and 2 did not go anywhere- but I no longer do tech startups, and here is why. Yet I miss some aspects about them that I do not find in consumer product startups.
There are 3 problem areas every consumer product startup encounters. But there are ways to overcome them if you think ahead and build those solutions into your growth strategy. Problem #1: Product-Market Fit This is the most classic problem every startup encounters. Does your product and it's benefits or outcomes it provides, fit with the [...]
When I look at CPG opportunities, my goal is to know the following: 1. Is this product/idea differentiated in the marketplace and how easy is it for the competition to copy/replicate that differentiation? 2. Does the team know what they are doing to grow the opportunity? 3. What's the plan to get the opportunity to [...]
How fast should you grow your company? I get this question from to time by startup and early-stage companies. Assuming that there is demand for your product/service and the sales are there for the taking, here's my response: Competitive environment. Do you have a defensible competitive advantage, like a patent? Or, another way to look at [...]
If you are a startup or small company, it's common wisdom to not compete on price. If price is all that differentiates products in the same category, then customers will buy from the lowest-priced competitor. This means that competitors will constantly be pricing their products lower and lower to win business to where eventually, no [...]
This post provides guidance for qualifying an idea for a CPG or consumer product business (B2C or a B2B2C). In my opinion, the process for qualifying idea for a CPG or consumer product business is really hard because your first iteration is NEVER the final and best idea. Your business idea should naturally evolve as you [...]