https://padlet.com/benmickett/vsrgsnaxi9sbho74 How I built this podcast. en-us 2022-02-23 16:10:52 UTC 2022-03-07 02:14:07 UTC hello@padlet.com benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068818397 Factor: Entrepreneurship 
In 2004, now Co-Owner of Vita Coco Ira Liran, moved to Brazil.  He noticed the growing popularity of coconut water. Because of that he shared this with his good friend Micheal Kirban also present day Co-Owner. The two decided this was a good business opportunity and wanted to bring it to New York.]]> 2022-02-28 04:19:54 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068818397 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068839892 Factor: Land 
In 2004, Co-Owners Michael and Ira decided they were going to purchase 2 shipping containers of coconut water ($75,000) from a distributer in Brazil using almost all of the money they had saved up for the company. This ended up not going as planned because they had not been approved by the FDA and could not import the coconut water into the US. They had to scramble and find ways to sell it all back in Brazil and eventually sold half of it and threw away the rest, pretty much breaking even on their initial $75,000 investment. ]]> 2022-02-28 04:41:29 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068839892 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068910269 Factor: Labor 
Early on in their operations much of the labor being done was by Michael himself. For 3 years Michael would spend every single evening on his rollerblades going everywhere imaginable to try to get people to put Vita Coco in their stores. ]]> 2022-02-28 05:51:03 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068910269 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068915981 Factor: Capital
Many things go into making the Coconut water. First they need to get their shipment of the actual coconut water from their distributers in Brazil and Asia. After they get it thats when all the packaging magic happens. In their several factories in both Brazil and South Asia the coconut water gets poured into its unique packaging, branded with the Vita Coco design, sealed, and then placed onto a shipping pallet ready to be sent to retailers. ]]> 2022-02-28 05:57:14 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068915981 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068920739 Factor: Capital 
Once things started to improve and business was growing, Michael and Ira decided they needed to market more. They bought a van and would drive around New York City handing out samples and selling it to grow Vita Coco and also make new relationships with people. ]]> 2022-02-28 06:02:44 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068920739 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068924437 Factor: Labor 
Around 2009, things started to get better for them. For the first time they had started turning a profit so they decided to use some of that money to grow the business. They hired a few people for a marketing team so they no longer had to be the ones rollerblading all day everyday to beg people to sell their coconut water in their stores. This allowed Michael to devote his time elsewhere to growing the company. ]]> 2022-02-28 06:07:05 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068924437 benmickett https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068925396 Factor: Entrepreneurship 
In 2010, Vita Coco was starting to gain a steady cashflow and the business was growing. Madonna's manager came to Michael asking if they would be interested in an ambassador deal. Michael loved the idea but said he didn't have the money for it. He then asked if they would be interested in investing and Madonna agreed to invest. After getting investments from her that's when things really started to pick up. They also got investments from people like Mathew McConaughey, and Anthony Kiedis. These are really the things that took Vita Coco to the next level. ]]> 2022-02-28 06:08:13 UTC https://padlet.com/benmickett/vsrgsnaxi9sbho74/wish/2068925396