Key Questions as you are Building Beauty Brands
Intellectual Capital for Brands
Premise – you have a brand people love, and you believe it has significant potential.
How do you strategically scale your customer base?
What is going to drive growth?
What is going to make consumers excited?
How do you eliminate strategic risk?
– make sure enough people want the product
How do you eliminate executional risk?
– make sure management team knows what they are doing
Clear Path to Growth!
Only three ways to grow a consumer brand:
1) new distribution
2) additional skus (low hanging fruit)
3) increasing unit velocity (the best, usually a by product of doing the other two well)
– how do you price to drive reoccurring revenue with installed base?
– what is the media strategy?
Thoughtfully layout a plan, and have the dexterity of thought and nimbleness of mind to audible and change course when required to win.
Testing Monetization of Brand Strategy
– Unit Economics
– Lifetime value of customers
– Customer Attrition and how this impacts strategy