my favourite stories in FMCG are the overnight success – when I had my own brand in alcohol-free drinks – it was these stories that kept me going, they keep everyone going.
By the time brands are on consumers radars and they are saying “check out this new brand” – they have likely already been going for anywhere up to 10 years.
It is an invaluable skill as a business owner to decipher – am I waiting for things to turn good? Will they ever turn good? Or am I flogging a dead horse? 🐎
Your tenacity to hunker down and soldier on could actually be the thing which is limiting you from going on to your next & most successful venture.
My favourite stories are of course when things DO turn good.
Oatly always comes to my mind – founded in 1994 – it spent two decades as a niche health product until a complete rebrand and repositioning in 2014 turned it into a cultural phenomenon and – a “cool”, “new” brand. 🥛
When I see founders and brand owners running out of steam – I always ask “what you are doing to change the tide?” 💨
It isn’t enough to expect things to “turn good”. I admire anyone spending their time with that sentiment, but at a certain point – something has to give.
The main stories I see:
- Confusing brands, packaging, propositions, ranges – the brand rolls over year in year out – nothing changes, the brand keeps hammering on old & new expecting something to change and get “a break”
- Wrong proposition – your proposition is wrong and you spend your time trying to convince consumers, buyers, and investors that they are wrong, and you are right
- Flogging a niche product and waiting for the trend to kick in – what happens when that trend doesn’t kick in?
- A lack of demand & validation – a problem which snowballs and you cannot “market” your way out of
This post has taken a darker turn – but, if you look at any brand with serious scale and the story behind it, some difficult and highly strategic decisions had to be made along the way.
What are your favourite stories of the overnight success?
Are you still waiting for your break or ready to create it?
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