Wednesday, August 1, 2012

5 Amazing Things Every Entreprenur Can Learn From Coca-Cola

#1 Profits Don’t Come Right Away

Since young companies need time to develop, they often require hours of labor with little monetary reward. Time is just like any other investment: if it’s well-spent, it will pay off.

In the case of Coca-Cola, John Pemberton lost $20 in his first year selling the syrup. He wasn’t making any money then, but he was laying the foundation for the next year’s profits (and the 100+ years after that).
#2 Failures are Stepping Stones

Every time you make a mistake, that means there’s one fewer mistake between you and success. The best way to learn how to do something is to totally fail at it – and then reflect on what you could have done differently.

There’s no point in feeling discouraged. Simply learn and change.
#3 Don’t Resist Change

Pemberton’s brain tonic was supposedly a cure for horrible-sounding ailments like, “Neuralgia,” “Hysteria…” and “Melancholia.” But there’s no way that Coca-Cola would be the huge corporation it is today if they hadn’t started marketing their beverage as a soft drink.

As an entrepreneur, don’t let carefully-laid plans blind your eyes to better opportunities.
#4 It’s Never Too Early to Start Branding

By sticking with a tasteful, timeless image, Coca-Cola has turned their logo into an icon. Your brand starts on the same day as your business – so be deliberate and consistent from the get-go.

Even if your business doesn’t have a logo or color scheme, you still have a brand to maintain. You’re building your brand every time you talk with a client or type out a tweet.
#5 Brand Big

Brands like Nike, Apple, and Coca-Cola have permeated the collective subconscious by embodying big feelings and ideas.

Of course, those companies also have multi-million dollar marketing budgets and you probably don’t. But if you have a firmly set vision for what feelings and ideas you want people to associate with your business, it will show through.
The Biggest Brand in the World

Today, Coca-Cola is widely considered the biggest brand in the world – but it has something in common with even the smallest start-up: it began with just an entrepreneur and an idea. How will you apply the story of Coca-Cola to your own business?

Michael is the owner of He is a world class web entrepreneur and a blogger.  

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