Expert Interviewee: Todd Carmichael, Founder of La Colombe

A. November 11th, 2021 @ 3:00 pm

B. Interview Summary

I. Is the problem worth solving?

1. If you can get the product right before releasing it to the public and have the right marketing, then yes, but don’t rush it or you will fail.

II. What were the reasons you didn’t accomplish your goals with your product?

1. Mr. Carmichael’s invention of a hot drink can astonishing, but failed to reach a big customer base because it was only sold in one local shop in Philadelphia.

2. In the summer, the drinks were perfectly hot, but most customers are looking for hot drinks during the winter. To our disappointing discovery, the heating system was not string enough that the drinks did not heat enough during the winter and were slightly warm at best.

III. What should I avoid to succeed in launching this product?

1. Avoid rushing the product and always trust your decisions, even if they seem wrong to others. Wait for the right moment in time to introduce the product. Maybe try to release it in the winter and focus on making special flavors for the season to appear diverse and creative to the public.

IV. What am I not aware of?

1. You need to know that once you enter the market and receive any type of success, the big dogs will come for you. You must establish yourself as a firm brand and gain a loyal customer-base. If you do so, you’ll manage to stay successful, but make sure to patent all of your inventions and learn from first-mover’s mistakes like myself to improve and advance in the future.