Gary Erickson, founder of Clif Bar, explains how an aggressive ad campaign comparing Clif Bar to PowerBar led to a lawsuit and early industry buzz.
0:00 / 0:09exact quote · 9.4s
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“Our insurance picked up the tab, and we ended up settling with Power Bar, but it created this buzz in the bicycle industry where people said, hey, have you heard of Cliff Bar?”
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Erickson: Challenger marketplaces must offer differentiated products, not just better values
“You can't be an Etsy with better values. You got to be Etsy with a different product.”
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Erickson: Taking outside capital causes founders to lose control of destiny
“You know, I never thought of either looking for outside money or wanting outside money, and maybe that was a good thing of my naivete, because once you do that, you know, you lose control of your destiny.”
Gary EricksonOct 3, 2016▶ 10:07Clif Bar: Gary Erickson
Disclosure
Erickson backed out of selling Clif Bar minutes before signing
“So halfway around the block, I decided not to sell the company, and then I felt completely free.”
Gary EricksonOct 3, 2016▶ 19:33Clif Bar: Gary Erickson
Insight
Erickson: Launching directly into mass retail usually fails without niche base
“You have to have that foundation first, and then from there you go out. If you're going to try to go mass market, you have to have so much funding to be able to do that, and chances are it's not going to work, because you've got to build that base.”
Gary EricksonMay 9, 2024▶ 4:48Advice Line with Gary Erickson of Clif Bar
AssertionSupported
Quaker Oats offered $120M for Clif Bar on $40M in sales
“We got a deal, we got an offer for a hundred and twenty million dollars on forty million dollars in sales.”
Gary EricksonOct 3, 2016▶ 16:33Clif Bar: Gary Erickson
AssertionSupported
Erickson took on $60M in debt to buy out his co-owner
“Secondly, my partner wanted out, so I had to negotiate a deal, and so that was seven months of negotiation, and third was I had to go out as, Our attorney says, dialing for dollars. I had to go find sixty million dollars.”
Gary EricksonOct 3, 2016▶ 20:26Clif Bar: Gary Erickson
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