I was recently brought into a new company as a consultant, which I’ll refer to as NewCo, to help them figure out there best ‘entry point’ into the world of Retail. I assumed that they had experience and knowledge because, already on board, were two former large vendor executives.
Their product was targeting a pretty hot, yet crowded, category (think iPod accessory). NewCo had a new “wrinkle” – a miracle of technology in the minds of their Brain Trust (primarily the CEO and technology wizard). While the technology was good, it didn’t seem good enough. There was no clear roadmap, the packaging matched the messaging, which was, in a word, “confusing”, and the pricing was a bit crazy.
Now, I believe in investing in a product by building partnerships in distribution, driving sell thru and extending the product line while broadening the product family. If you don’t believe in this, you’re of the “one hit wonder” family destined to fail.
I tried to make my point and was given the infamous line “you don’t get it”. Really? After two decades in the CE channel, I didn’t get it? I walked away from the deal. I guess I’m not a typical consultant. I can say “no thanks” to clients who don’t like to hear the voice of reality.
Anyways, six months later, they’ve re-priced, re-packaged, re-messaged and are still looking for re-orders. I never wish anyone anything but success, but sometimes vindication is a just reward on the consultant trail.
Did I do the right thing by walking away? Should I have taken the money and tried to help even though the “powers that be” had a particularly unwavering point of view on what needed to be done? Share your thoughts….
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