Emerging brands have to support each other.
This is the way we climb mountains. None of us can do it on our own. It takes a collective interest. How can we together move the needle? The key word here is “together.”
Our founders take on big CPG brands – bringing even bigger ideas and with much smaller bank accounts (we’re often just hoping to make payroll and pay the bills, right?). We are fighting for a seat at the table. This is the magic of the emerging brand. Our founders earn a seat at the table by their nature of being a change agent. By wearing the badge of an impact driver for people and the planet while driving for profit, founders become players.
Founders of emerging brands are in a position to set the stage for what consumers should expect. Consider the ripple effect of impact and innovation from emerging brands:
- Brands launch innovative products.
- Consumers discover innovation in ingredients, form factors, etc.
- Consumers become educated about the benefits of said innovation and show up at the register.
- Big CPG sees the validation of concept and begins R&D/formulation, heading toward launch.
Don’t think for one minute that younger brands are only learning from bigger brands. Smaller brands are the ones that drive innovation. Big CPG takes cues from us. And yet, over 80 percent of emerging CPG brands fail.
Looking for someone on a mission? Talk to a natural foods founder. This motivation to launch an innovative product is only the beginning. The initial drive sprouts legs and becomes so much more. Founders very early on realize the impact their business can and should have on the world and rise to the challenge. Time and time again. From supply chain and ingredients to team and charitable contributions, the impact of emerging brands spans far and wide. This is the magic of CPG. Our founders are changing the way that consumer purchases can impact the world.
How can we support each other?
How can we support each other and elevate the landscape for emerging brands? How can we share our learnings and lessons? Do all founders have to be recreating the wheel simultaneously? No! And we shouldn’t be. But we do.
How do we find the resources and people that can understand and support us? For most founders, spouses don’t understand, family and friends don’t understand. There are few people to commiserate with, to ideate, brainstorm new ideas with. I used to say that I had scars from my founder’s days. I now say that I have open wounds.
I remember years ago as a founder saying “this is just too much for one person.” It is just so hard. This conversation needs to be happening in every room. Emerging brand founders shoulder the weight of the industry and typically do so without the resources required to actually pull it off. Perhaps we should call them magicians instead, as what they accomplish with limited resources certainly seems like magic.
So how do we make the impossible more tenable? How can we alleviate some of the burdens on emerging brand founders? The most readily available answer is this: community. Our community is our most powerful tool and it is paramount for success. I know a pot full of gold would help also…but for us mere mortals, we’ll stick with what’s immediately available to us.
Statistics show that human connection is required for survival. The benefits on psychological and physical health of having a group for support and connection are undeniable. We must have community. Find your people. Find your tribe. If that doesn’t come easy for you, reach out and I will help. Encourage your fellow founders to do the same. It might just be the push they need.
Collaboration > Competition
I was talking recently with my good friend, Kyle Kohler. Kyle is the (incredible) founder of Wildway (if you don’t know him, you should). He put together an impactful way to share his mantra. I now have a shirt with this printed on the front: Collaboration > Competition. Read that again.
Emerging brand founders are some of the bravest people I know. They take it on the chin every day and somehow walk away with a smile on their face and a heart full of hope. And too often they do it alone. This industry is small and we all need to show up to support each other. That is how we all succeed. It’s the right thing to do and it is good business. Build allies. Build a network. It serves your business and the greater good.
Those that know me know that I talk about this concept a lot: changing the landscape. We have to consider the greater good with every step forward that we take. We can accomplish this by sharing resources, experience and insights. Next time you are at a trade show or an ECRM Session, connect with other emerging brands and see how you can help each other. Cheers founder Brooks Powell is a great example of this. When he is at an ECRM Session, for example, he doesn’t just connect with buyers; he seeks to meet with other brands as well, to share best practices and learn how they can help each other (see the video interview with ECRM’s Joseph Tarnowski below to get his perspective on this).
In most cases, another brand’s success does not mean lack of for your brand. Together we can create more awareness in a new category, or pull more consumers into emerging brands from Big CPG. Together we have a louder voice. Let’s use it. Let’s build a space where emerging brands feel supported. Let’s build an industry that focuses on collaboration over competition.
Let’s win together.
The post For Emerging CPG Brands, Collaboration Beats Competition Every Time appeared first on The RangeMe Blog.
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