Shopify Masters
· with Ryan Close
· October 17, 2023
· 34 min
Summary
This episode features Ryan Close, founder of Bartesian, who successfully created an entirely new product category in the beverage industry. He shares insights into identifying market gaps, developing innovative products like the Bartesian machine, and the audacious strategy of intentionally fostering competition. The discussion also covers securing major licensing deals with global liquor companies, offering a blueprint for entrepreneurs on product development, market validation, and strategic brand management, especially for disruptive solutions in competitive markets.
Key takeaways
Identify unmet sophisticated consumer desires to create new product categories, as Bartesian did with premium at-home cocktails.
Consider intentionally creating competition within your own brand to drive market penetration and accelerate growth, an unconventional but potentially powerful strategy.
Master the art of pitching and negotiating licensing deals with large, established corporations by clearly demonstrating mutual benefit and understanding their strategic needs.
Focus on robust product development and design, emphasizing innovation and technical considerations to build a novel and high-quality appliance.
Develop a go-to-market strategy that includes strategic alliances and partnerships to scale distribution and achieve wider market adoption for innovative products.
When launching products on Shopify, develop a careful market validation and product development to ensure product-market fit.
Negotiate strategic alliances by highlighting how your innovative product fills a market need that complements the established brand's offerings.
Develop a deep understanding of manufacturing processes for premium consumer products.
Understand and leverage consumer adoption curves to optimize launch and growth strategies for new-to-market innovations.
Be prepared to manage intellectual property carefully during licensing negotiations and product development.
Ryan Close established a new product category with his company Bartesian, created competition for his own brand, and signed major licensing deals with some of the largest liquor companies in the world.
What does this episode say about product & merchandising?
Identify unmet sophisticated consumer desires to create new product categories, as Bartesian did with premium at-home cocktails.
What does this episode say about founder & leadership?
Consider intentionally creating competition within your own brand to drive market penetration and accelerate growth, an unconventional but potentially powerful strategy.
What does this episode say about brand & content?
Master the art of pitching and negotiating licensing deals with large, established corporations by clearly demonstrating mutual benefit and understanding their strategic needs.
What does this episode say about dtc strategy?
Focus on robust product development and design, emphasizing innovation and technical considerations to build a novel and high-quality appliance.
What does this episode say about product & merchandising?
Develop a go-to-market strategy that includes strategic alliances and partnerships to scale distribution and achieve wider market adoption for innovative products.
