Ben Goodwin, the CEO, co-founder, and formulator of OLIPOP, stands as a trailblazer in the beverage market. His journey from a childhood marked by unhealthy eating habits to creating a $200 million business is not only inspiring but also offers valuable insights for aspiring entrepreneurs. Ben shared his business tips and advice for those daring enough to chase their dreams.
Revolutionizing the Soda Landscape
OLIPOP is a soda brand that is reshaping an entire industry. Motivated by his personal transformation—losing 50 pounds at the age of 14 through exercise and nutritious eating—Ben set out on a mission to revolutionize the traditional soda landscape. OLIPOP offers consumers the comfort and nostalgia of classic soda taste without the detrimental health effects, boasting low sugar and prebiotic fibers that support the gut microbiome. The brand has become the fastest-growing refrigerated functional beverage in the U.S., with sales skyrocketing by an unprecedented 223% in the last year alone.
The Entrepreneurial Journey
For Ben, the journey began with dropping out of college and delving into extensive research on the microbiome and product formulation. His relentless pursuit of knowledge culminated in the creation of OLIPOP, a testament to his commitment to health-conscious innovation.
Ben acknowledges that one of the biggest challenges for OLIPOP has been the speed of its growth. As one of the fastest-growing companies in U.S. history, the need for seamless evolution in processes and staffing became apparent. Ben’s solution involved seeking guidance from an executive coach and mentors who foresaw potential pitfalls. Building a strong, high-trust culture allowed the team to make critical pivots efficiently, despite the challenges associated with rapid expansion.
Smart Funding Strategies
Ben offers valuable advice for entrepreneurs seeking funding, highlighting two primary dynamics: when you are not yet desirable as an investment and when you are. In the early stages, he recommends looking for investors who treat you with respect, listen to your vision, and are genuinely interested in your business. When your business becomes more desirable, focus on investors who are business-centric, providing strategic value without trying to inflate your ego.
The Essence of Entrepreneurship
Addressing a common misconception, Ben emphasizes that entrepreneurs don’t necessarily need to have the full vision of their end game when they start. The market provides feedback on the product’s quality and its adaptability, and often, adaptation is superior to rigidity.
To Ben, being an entrepreneur means seeking to solve human problems and contribute value to the world. Entrepreneurs, according to him, challenge established structures and believe in constant improvement.
