Olipop co-founder Ben Goodwin reflects on a failed early partnership and what founders should look for when selecting a business partner.
Insight
Goodwin: Consumers will not switch beverage habits without leading with flavor
“Good, good luck trying to get a bunch of people to switch their behavior if something doesn't lead with delicious flavor. And when we Talk to our consumers and try to figure out, hey, what's contributed to our kind of growth and the high level of kind of advoc…”
Insight
Goodwin: Hearing Terms Are 'Market' Means Entrepreneurs Should Push Back
“Anytime I hear the quote, something's market, you know, it's like a, and everyone kind of goes, oh, this is kind of what you need to learn how to accept, and I'm kind of like, that, the second you tell me that something is market is the second I know that we h…”
Insight
Goodwin: Food Products Must Win Blind Taste Tests Over Health Claims
“So then, you know, number one's always taste, right? So if you quote blind taste tests against all your major competition, especially in your price point, Are you coming out on top? If you basically aren't getting a yes, then the structural argument behind the…”
Assertion Partly supported
Goodwin: Rising Food Allergy Rates Are Linked to the Microbiome
“The rate of gluten and general food allergies have gone up precipitously since the seventies. Spoiler. It has a lot to do with the microbiome.”
Insight
Goodwin: Raising Equity Is Risky; Founders Should Seek Bank Loans Instead
“Raising equity is really complicated, and it's easy to get screwed, and you have to generate some sort of return, but I would start to go look at small business loans.”
Assertion Partly supported
Ben Goodwin: The microbiome produces the majority of human neurotransmitters
“So, we produce the majority of our hormones and our neurotransmitters in our microbiome. Those have a marked impact on how we feel, on how we think, and that's powerful.”