Starting to Grow, How Rushing to Market Turned Crystal Pepsi Into One of the Worst Product Fails of All Time, Even After Half a Billion of Sales in Its First YearFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Tim

Starting to Grow, How Rushing to Market Turned Crystal Pepsi Into One of the Worst Product Fails of All Time, Even After Half a Billion of Sales in Its First Year

Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 9

As your business starts to grow, what do you see? Is everything running smoothly? Or are there hiccups in your business operations? When everything seems okay, you grow confident and start to take on more and more customers.

With more customers come more operational challenges. Challenges such as customer service, human resources, delegating roles, etc. It is also important for entrepreneurs to anticipate future challenges and their respective solutions. It is also important to ask yourself if you still like your business. You have options.
-Evaluate your business model and make some changes
-Focus on taking your business to the next level

You also need to watch profitability and cash flow. Initially, you do not need to be overly concerned about money because there are many ways to monetize a good business. But as your business grows and takes on more customers, it becomes imperative that your business makes money for it to stand on its own. Most of us do not have enough wealth in our bank accounts to lose money forever. 

If there is a market for your business idea you will make money, you will probably move on to the next step. If not, you should probably go back to the drawing board. If it doesn’t make money, it doesn’t make sense. 
You also need to make sure you have your product or service ready for mass scaling before you grow too much.

Crystal Pepsi was poised to become a billion-dollar idea. Instead, it was a colossal flop. Less than a year after the commercial hit the airwaves, the soda was yanked from the shelves. It became a cultural laughingstock.

How did Crystal Pepsi go from pop culture darling to the beverage world’s biggest fail? 
-A rush to launch before the recipe tasted right. 
-Spoilage from using clear bottles with a clear liquid, apparently colas are brown for a reason

In April 1992, the drink launched in Boulder, Colorado, and was soon flying off the shelves. But the clock was ticking. They wanted the soft drink to launch nationally in time for the Super Bowl on Jan. 31, 1993, as part of a $40 million ad campaign.

All told, Crystal Pepsi was rolled out across America at breakneck speed -- just nine months after initially pitched. By contrast, It took three years to launch Slice. It wasn’t enough time to accurately test Crystal Pepsi’s shelf life.

After the Super Bowl commercial, sales of $1.50 six-packs soared. The company sold $474 million of Crystal Pepsi by March 1993, according to The New York Times.

Unfortunately, Cases of Crystal Pepsi were being displayed sitting out in the direct sunlight. As predicted, ultraviolet rays caused the soda to spoil. Reports began pouring into Pepsi headquarters from customers saying that Crystal Pepsi tasted strange.

By 1994, less than a year after Crystal Pepsi’s big launch, it was discontinued. Two decades later, in 2014, the soda was named one of the “10 Worst Product Fails of All Time” by TIME Magazine.

Do you want more? 
https://rencarlton.blogspot.com/2021/06/starting-to-grow-how-rushing-to-market.html
https://youtu.be/drfO0TxRpWE
https://www.linkedin.com/pulse/starting-grow-how-rushing-market-turned-crystal-pepsi-ren-carlton


Previous Post - Why Competition Is Good For Entrepreneurs and How Blockbuster’s $50 Million Mistake Helped Reed Hastings and Netflix Destroy a $6 Billion Empire- Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 8
https://rencarlton.blogspot.com/2021/06/why-competition-is-good-for.html
https://www.linkedin.com/pulse/competition-good-50-million-mistake-helped-netflix-destroy-carlton
https://youtu.be/pF4_c4smo4E 

Are you looking for investors? Send us your information, Funding@OmegaAccelerator.com

Would you like to invest in early-stage businesses? Contact us, info@omegaaccelerator.com

ources cited
https://www.thrillist.com/drink/nation/what-is-crystal-pepsi
https://www.mashed.com/108026/real-reason-budweiser-bombing/
https://the-soda.fandom.com/wiki/Crystal_Pepsi

Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering legal, investment, tax, or medical advice.

 

Build Your List of Potential Investors, Pitch Investors Properly, How Kevin Systrom Raised $500,000 in Two Weeks to Launch InstagramFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 12

Most startups need funding at some point. Once you have the addressed all of the items in the previous episodes, it is time to build your list of potential investors and start the conversations. They can be friends, family, social network, social media contacts, work colleagues, people in the business industry, etc. Try to put together a list of at least one hundred people. A list of one hundred potential investors may seems like a lot, but the more people you have on the list, the better your chances are of success.

Making Money With Your Business, Profit and Cash Flow, Five Sustainable Companies That Make a Lot of MoneyFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 10

It is time to make money! You have been through a couple of rounds of market testing now you feel like you are on to something. The next step is to run the numbers to make sure that the business is sustainable. There are two sides to making money, profitability and cash flow.

Why Competition Is Good For Entrepreneurs and How Blockbuster’s $50 Million Mistake Helped Reed Hastings and Netflix Destroy a $6 Billion Empire Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Epis

When battling for resources or investment, early-stage entrepreneurs may believe that competition is a bad thing. On the surface, they are correct. There are a limited number of angel investors willing to provide a finite amount of venture capital to founders.

Upscaling and Scaling Business Ideas into Reality – Jeff Bezos takes Amazon from Online Bookstore to Global DominanceFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 4

Congratulations, your market testing worked and you were able to find customers, or at least one customer. Your beta test was successful and you are confident that you are ready for more. What do you do when you start getting customers or users? I recommend you do some scaling or upscaling.

What Kind of Business Should You Start? – How Mark Zuckerberg Pivoted From Rating Hotness to FacebookFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 1

When it comes to brainstorming startup ideas, new entrepreneurs and even seasoned ones scratch their heads in confusion. Living in the information age, you can scan the current market and see countless new business ideas. With so many options out there, how do you know which one is right for you?

Why Would a Doctor Abandon a Steady Paycheck to Become an Entrepreneur?

As physicians, we are expected to be compliant with rules, restrictions, and regulations. We are expected to be risk averse. We are expected to be “providers,” but not necessarily innovators or leaders. As the healthcare system becomes increasingly consolidated into large overcrowded clinics, we are required to perform to the standards set by bureaucrats and clinic managers. These rules are often at odds with the best interests of patients and with our sanity.

The Alienation Of America’s Best Doctors

The best and the brightest simply don’t want to become doctors anymore. Physicians are burning out. They are leaving the profession. They are going bankrupt. They are selling their private practices to big hospitals. They are retiring early. We are facing a growing doctor shortage.

Better to Live and Die in the U.S.A.

The United States healthcare system is often berated for how it treats patients near the end of life. They are purportedly attached to tubes and machines and subjected to unnecessary invasive procedures that cause inordinate pain with no potential benefit, there is underutilization of more compassionate hospice services. This “travesty” is expensive, as the care of dying seniors consumes over 25% of Medicare expenditures. We hear this story so often; it is almost taken as gospel-- but is it actually true? Is it more expensive and invasive to die in America than in other developed countries?
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