Just because you learn how the chess pieces move doesn’t mean you will win the game. In fact, you can’t lose the game until you learn the moves. But how the pieces move is just the beginning. To win, you need to know the strategies and philosophies of the game.
We all know this is true when it comes to parlor games. But when it comes to successfully building and monetizing a consumer package goods (CPG) brand, it’s easy to focus on what you think your immediate need is. If you don’t understand the end game and the strategies and philosophies to get there, you can choose to learn a process that gets you into big trouble fast! Why? Because what you think you need may not be what you really need.
The hype is out there, ready to take your money, ready to sell you the process you are asking for, but do you have enough experience to know what to ask for?
We met a young entrepreneur recently with a great CPG consumer packaged product. He was sure that if it was only in a big box chain he would be golden. So, he studied he studied the process. He filled out the new product forms, met with the category manager, and voila! He was “successful!” He was in the big box store. Even his investors were ecstatic! Everyone thought, “Wow! Now that we’re in the big box stores, we’ll be making six figures in six months!”
Related: Big-box Stores Are Failing. Here’s How Small Businesses Can Scoop up Their Sales.
But within six months, all the excitement had transformed to into disappointment. They were discontinued! Why? “According to the scan data, the sales weren’t adequate to justify the shelf space,” the buyer flatly reported.
It was like he knew what the chess pieces did, but in four short moves, he…
