I did not attend the 2013 Chick-fil-a Leadercast, but saw a post on key takeaways from the event and one caught my attention: Coach Mike Krzyzewski, head men’s basketball coach, Duke University: Don’t focus on winning. Focus on creating a culture of success. This will lead to consistent winning. What is a culture of success? I [...]
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 [...]
Here's some quick points on selling to QVC. I have never sold to HSN, although I am guessing these points can also apply there: If you do not have at least have a direct-to-consumer component to your business or are not already in some form of retail distribution, then QVC efforts may not do much [...]
I was asked this question on CPG package design on Quora. My response is below. I think the biggest mistake is not grabbing consumer's attention. There are so many products on shelf that it's easy to get lost and not get any attention. This is especially the case if there is limited or no out-of-store marketing to [...]
The book Inquiries into the Nature of Slow Money by Woody Tasch, is full of great facts and information used to bolster the author's argument, which is the need to re-deploy our investment dollars into natural, organic, and sustainable farm and food enterprises that support local economies and food systems. The book accomplished that goal [...]
Successful companies with well-established products are being threatened by newcomers. Winners don't lose when new rivals attack from the high-end of the market. They lose when startups attack from below. The Innovator's Dilemma by Clayton M. Christensen The point is that when an established company weighs the cost of new technology or talent against what it already has, [...]
This is a Quora question that I was asked to answer. My answer is as follows: It depends on who is your end-customer and their creditworthiness at tradeshows. If you are selling wholesale to established businesses, then you could simply offer a show special (like 20% discount) and provide a cut-off date before the discount [...]
What is considered a healthy gross profit margin (both as a retailer and a distributor)? I have just started a niche business of importing foreign goods at factory prices direct from the manufacturer and selling them at my retail shop at an average markup of Landing cost x 2 + local taxes or at a [...]
Does your startup the right match for your interests, passions and talents? Only you can answer that question, but here's a list of books I have read over the years that will help. Book Yourself Solid: mostly about creating a successful consulting business, but does a good job at helping you understand how to grow a [...]
Take a look at the following back-of-the napkin P&L. This is from an actual early-stage business. The product retails for $40 and wholesale cost is $20, which is the gross revenue to the business. COGS is fairly hefty because the business is small and does not yet have the volume to bring down its [...]
