“It is hard to build a business, but 10 years later you’ll be walking down the street and somebody will ask ‘How did you became an overnight success?’”
– Frank O’Dea, co-founder of Second Cup and serial entrepreneur
Second Cup wasn’t an overnight success. It took innovative ideas and years of testing to land on the gourmet coffee model that continues to grow to this day. By exploring a new idea, Frank O’Dea learned that people are willing to pay more for a good cup of coffee in the right environment. “It changed the relationship between the coffee and the customer. It was no longer about having a beverage. It was now about a treat,” he said.
O’Dea believes the Blue Ocean Strategy, which involves creating a new industry, is useful for any entrepreneur. He also believes that creating the right environment is integral for any company, including tech startups. In this episode of Startup Canada Podcast with Rivers Corbett, O’Dea talks about the Blue Ocean Strategy, the three things entrepreneurs need to succeed, and how the Canadian government can empower entrepreneurs.
The Startup Canada Podcast Show is a production of Startup Canada, a grassroots, entrepreneur-led movement to bring together, celebrate, and give a voice to Canada’s entrepreneurship community. On the podcast, award-winning entrepreneur host Rivers Corbett speaks with the movers and shakers of Canada’s entrepreneurship community to give a glimpse into the future of business, and share insights on everything from social innovation to the future of work, investing, and why we need to think bigger to take our businesses global. Join Rivers Corbett for new episodes every Tuesday airing at 10 AM ET for lessons, trends, and opportunities in entrepreneurship from Vancouver to Fredericton; and Israel to Peru.
You can find every episode of The Startup Canada Podcast Show at www.startupcan.ca/podcasts/.