Ep. 007: On Disrupting the Bottled Water Industry — The Matthew Swanson Interview

Hear the inspiring story of how this young entrepreneur is disrupting the bottled water industry. Listen as he describes his secret to raising money, of working with distributors and beating the mega-competitors by out-hustling them. Leave a Rating & Review in iTunes for the Product Launch Rebel Podcast Podcast Timeline: 0:43 – Introduction to Matthew Swanson, Co-Founder of Rethink Brands, and the producer of Rethink Water 2:41 – “Give Me the Basics” Podcast Segment –  Matthew describes Rethink Water and what makes it unique.  He explains the company’s mission to “go beyond just water” and describes its culture; “we have the mission of a non-profit, and hustle and drive of a for-profit” 4:13 – Matthew talks about their quick and rapid growth, the number of retailers they currently serve, getting into Target stores, and their total number of employees. 6:00 – Matthew expands on Rethink Water’s main point of difference (paper carton versus its reverse osmosis production technique) and how “plastic never touches” the water, thereby offering health benefits as well as environmental benefits. 6:47 – Matthew talks about how his initial assumptions changed regarding Rethink Water’s brand positioning. 8:02 – Matthew describes the genesis of the idea to launch Rethink Brands and how it evolved over time.  He talks about Chris, his friend and co-founder, and why “it’s extraordinarily important to have a co-founder.” 11:22 – “Tell Me How” Podcast Segment –  11:38 – Matthew describes his approach to raising capital for this capital-intensive business.  He advises aspiring entrepreneurs to raise three times the amount of money they think they would need for a food and beverage company.  He describes how fortunate he has been to meet people within the industry that have helped him.  He talks about the importance of seeking “value added investors” when starting a new beverage company for the first time. 16:02 – Matthew describes his challenges of raising money – his conversion rate was 15 to 20 percent. 17:00 – Matthew suggests that his career background – working for Procter & Gamble and Google – helped him launch the business. 17:52 – Matthew expands on why it can take three times more money than expected when you launch a company like Rethink Brands. 20:01 – Matthew describes the challenges of finding a contract manufacturer for Rethink Water and how they had to convince the manufacturers to work with them.  He mentions how tough it was to get the level of service they needed and deal with state regulations. 26:13 – Matthew talks about selling Rethink to retailers, including leading retailers like Target.  “A big learning experience.”  “You never really know what those hot buttons are to peak their excitement.” 29:13 – Matthew describes choosing the pricing of Rethink Water and relying on his successful Procter & Gamble method of presenting to retailers. 30:07 – Matthew shares his experience working with distributors and, in particular, one of the biggest distributors on the East Coast.  He describes the best way to work with distributors by offering them lots of people support. 31:44 – Matthew talks more about product pricing.  They did a lot of competitive analysis by distribution channel. 33:08 – Matthew describes the keys to creating consumer demand and awareness on a small budget, and hustling and working hard.  The company influences consumers at the...