The value of a good concept and an excellent brand

I went to hear Jim Averdiek, the founder of Gü, speak about how he did what he did and how it was such a success.

First, he'd thought seriously about the concept and the market, then he approached his brand design consultant to think about a name and the way in which the brand might be positioned.

Going back to the designers after a week, Jim was told that they'd researched the chocolate pudding market and there was already a company in Belgium that did what he wanted to do. They showed him what the company and packaging looked like and how he would have difficulty breaking into their market.

Seeing his disappointment, the designers admitted that they'd made it all up and that Gü was his for the taking.

Then he tested the market, found it viable and partnered with a manufacturer to make the product.

The rest is history - from £0 to £25m in six years.

Lucky or clever, or both? Innovative products and excellent brand strategy underpins the whole process.