The first mistake I see founders make is overvaluing their GMV growth while undervaluing net revenue & unit economics — again, retention (i.e. happiness) is what's going to keep your marketplace afloat, not just high GMV numbers.
People will meet with you when you have proof of work Busy people will take your meeting when you have something important or valuable. But you have to come with a proper calling card. It should be: “Here’s what I’ve done. Here’s what I can show you. Let’s meet if this is useful to you, and I’ll be respectful of your time.”
Entrepreneurs looking to enter the market have an opportunity to re-write the rules. This means focusing on the end consumer — marketing and delivering direct to her. It also means creating better beverages and new spaces/contexts for drinking. Today’s customer wants something that’s enjoyable, conscionable, and just a bit healthier.
In the course of writing How to Avoid a Climate Disaster, I developed a way to answer that question. I call it Green Premiums — the differences in cost between a fossil-fuel-based way of doing something and the clean, non-emitting way of doing the same thing.