Company B, a startup in the consumer goods space, had a patented product and proof of concept, but no traction in revenue. Through several strategic planning sessions with Your Startup Coach, Company B was able to achieve its highest goal to date – securing retail space in a hard-to-break market.
Your Startup Coach is no stranger to working with startups and helping them become profitable. Oftentimes, early-stage startups find it hard to position themselves in a way that allows them to compete with larger, more established brands.
Let’s face it – the shelves are filled with products that have a lot of competition, and if your product doesn’t sell, retailers won’t offer you shelf space. By refining its pitch and defining its product-market fit, Company B was able to do what most startups can’t – break through in the retail space even as a small company.
The Problem With Established Competitors
Early-stage startups have to compete against larger, well-known brands and often lose the battle before they ever get off the ground. These startups are often ignored by larger retailers because they don’t have a proven track record, despite their potential for success. Company B was experiencing this and wasn’t able to gain traction in revenue even though they had early adopters that raved about their product.
Our Journey with Company B
YSC began working with Company B to refine its pitch and introduced them to potential investors and beta users. This helped them with a proof of concept and to develop a strong basis for their next step – retail sales.
Company B had a patented product that was worthy of notoriety and shelf space. We drafted a pitch to send to large, big-box retailers to ask for a limited amount of shelf space. Company B had the legal team approve the pitch, and sent it off to several major big box stores. They followed up with phone calls, and the result was….
Early Stage Startup and The Results
Company B was able to position itself as a distinctive brand that differentiated itself in the marketplace. Because of our work together, they secured space in a big box retailer, increased revenue, and used these partnerships to gain visibility in the press.
This startup, Company B, is now profitable and has become a brand of distinction in their consumer goods space. They can now expand into other retailers and hit targeted revenues because they have the tools they need to achieve any goals.