In the early 80s, actor Paul Newman filled empty wine bottles with his homemade salad dressing and handed them out to neighbours as Christmas presents. When his neighbours began knocking on his door asking for refills, Newman decided he’d try selling it (with profits going to charity). It’s still in shops now.
Let me start with a bold statement. Your branding is as important as the product itself. You can have the best tasting wine on the market but if no one picks it up and tries it, no one will ever know, 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition.
THERE are people who look at a potato and fail to see anything more than proto mash, and there are people bursting with amazingly imaginative ideas of how to use that same potato to fashion fantastic flavour sensations.
Your product may taste absolutely delicious but without brilliant branding it may not be a success. It is vital to remember that 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition.
Every startup founder needs to keep in mind that branding is as important as the product itself. 90% of a first-time purchase is based on the branding; it’s why a consumer will pick your product over their regular choice or your competition. So how can startup founders communicate their message to their target audience so that they decide to buy and try?
Business ideas can be conceived anywhere, including kitchens. Up and down the land there are recipes that have been handed down through generations, there are recipes adapted from dishes experienced abroad, and there are recipes that were created from scratch (by design or by accident).
Do you have a food or drink recipe that has been within your family for generations? Or have you tasted a great dish or drink while travelling and would love to bring it to the UK? The first thing you need to do is research. Is there anything similar in the market either in the UK or internationally? Find out everything you can about this competition.
You have a killer dish, it’s a best seller, and people are regularly begging for the recipe. But you have ambitions for this flavour sensation: this time next year Rodney, we’ll be millionaires! And you and Rodney (other world-weary siblings are available) may well end up yacht-and-a-penthouse rich, but the journey from restaurant kitchen to supermarket shelf is a long one, and it involves a great deal of work.