I’m thinking and reading a lot about what makes consumer brands successful these days. My favorite example is Halo Top
, an ice cream brand which started in the US and launched in Germany beginning of the year. It combines the deliciousness of Ben & Jerry’s with even better design and a third of the calories plus protein. That was sufficient to become the biggest ice cream brand in the US within more or less 5 years, surpassing Ben & Jerry’s as well as Häagen-Dazs which both are in business for over 40 years. I love examples like this because they show that our generation craves better and healthier products and that innovation is possible across all industries, sometimes no matter how saturated the market already is. So much opportunity to make better things! :)
I’m writing a business plan right now and it’s actually quite fun. For years, the mantra seemed to be that business plans are irrelevant. We cherish the entrepreneur who invents some cool shit and starts selling, thereby skipping such mundane and time-wasting tasks. I think that’s stupid. Putting things in writing structures one’s thoughts and doing it together with a co-founder is a good exercise for alignment. Also, you can send it to people and get feedback on it. While we are mainly writing a business plan to apply for grants, it’s a very good exercise for many different reasons.
Giving things a name
Coming up with a good brand name is hard. Most good names, those where one can define its meaning so it becomes original, sound foreign and strange at first. I found this article
by the founder of Expedia, Zillow and Glassdoor helpful which has some good ideas in it and might be a good start.
If you have 30 seconds, I would love to get your opinion on ROY
as a brand name (it’s set, but I’m curious!).
Have a good weekend my friends,