NORCAT Entrepreneurship 101 - "Lived It Lecture" featuring Luc Roy, Co-founder, Old Rock Coffee
Transcript of NORCAT Entrepreneurship 101 - "Lived It Lecture" featuring Luc Roy, Co-founder, Old Rock Coffee
-
ENT 101
-
Are you Crazy?
ENT 101
-
26 Tim Hortons!!
2 Starbucks!!
14 DT Coffee Shops
-
Get used to it.
-
Get used to it.
JinxedBlindly determined
-
Get used to it.
JinxedBlindly determined
Biz case stuff
-
Get used to it.
Jinxed
Advisors
Blindly determined
3 clear milestones per biz case
-
Circa 2004Go to Market Strategy
Phase 1 Learn to roast the best coffee Identify the ideal blend(s) Trial the product with friends and family Have early sales to up to 6 customers
Follow-up to measure satisfaction If satisfaction=great then
Go to Phase 2 Otherwise, take advice and rework Phase 1
(or plan in Phase 2)
-
Go to Market Strategy Phase 2
Identify ancillary offering to complete offer (e.g. grinder, bag, scoop)
Come up with complete initial offer Create 1-800 number Create website with online ordering Trial at holiday period If satisfaction=great and sales>$500 then
Go to Phase 3 Otherwise, analyze what was missed and rework
Phase 1 or Phase 2 If not, close business.
Circa 2004
-
Since 2004!
Original Bus Plan objectives achieved within 2 years Phase 0: roasting experimentation Phase 1: product creation (2/05) Phase 2: proven success of product (6/05) Phase 3: wholesale continuous revenue (10/06) Phase 4: self supporting store (2/07)
Product differentiated, revenue stream, brand equity and created experience Time to move to next level
Circa 2007
-
Next Business Phases!
Phase 5: Optimize retail and wholesale business
Phase 6: Increase number of stores Phase 7: New avenue for Canada-wide
GTM
Circa 2007
-
Get used to it.
-
Imagine
Cold spring day
-
10 Years Later2 locations, 3 outlets!
Numerous awards!
K-cups this summer!
2013 Dec - Coffee in all Ontario Costcos!
In final negotiation for 1st franchise!
Still in business @ $2 coffee
-
So, Why?
-
So, Why?
Because why.
-
So, Why?1) You need a great
product.
-
So, Why?2) About the relationship
and identity.
-
So, Why?
-
So, Why?
-
So, Why?
Because why.
Must see - Ted talk with Simon Sinek on Why.
-
Focus on the Why
-
We are just starting
10 years later
-
About Luc
Silicon Valley executive - VP Marketing!
6 startups!
Technology background
-
About Carole
Nurse by trade!
No startup experience!
Ferocious roaster!
Passion for great coffee
-
January Top Sellers
Black Bears Butt Christmas Eve Christmas Jazz Great Outdoors California Blues
-
Thank you. Merci.
oldrock.ca