I was at Whole Foods tonight staring at an endcap (end of the aisle) filled with product really similar to what a group of us is working on. I was sort of awe-struck by three things.
1. Here it was. Our idea. Beautifully executed.
2. Whoa, they want to charge that much?
3. This is encouraging. Not only are they donating proceeds to the same cause, but it’s working!
I want to make a bold proclamation to all early-stage entrepreneurs. If you see an idea already out there, don’t give up. In fact, I would say it’s testament to how good your idea is. Now, execute well. Ensure you differentiate your product enough, and your brand A LOT, so it’s unique and captures a diverse segment. Even if your distribution strategy includes Whole Foods:)
I believe that, with social media expanding awareness and creating more person to person recommendations, and with the C2C (consumer to consumer) market capturing more attention and marketshare (think airBNB), we will see a shift away from brand loyalty and toward emotional investment in a diversified portfolio of products and services. This will help us (serial entrepreneurs who WANT to give back to society) to find a way to make our ideas work.
I would contribute this to the fact that the up-and-comer millennials are much more focused on freedom, flexibility and purpose, than the almighty dollar.
So persevere with your start up ideas!
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