Business development, Podcast

Ep 56: How to Start a Business in a Brand New Market with Catharine Arnston from ENERGYbits

How We Solve

download icon

Ep 56: How to Start a Business in a Brand New Market with Catharine Arnston from ENERGYbits

prev 15sec
play pause
next 15sec

Problem: How do you start a new business in a new market?

Ten years ago, Catharine found herself starting a new company in a market that didn’t exist. Today Catharine gives us her knowledge and advice for new entrepreneurs and talks about the importance of staying healthy as an entrepreneur.

The Steps to Start a New Business in a new market

With her experience building the ENERGYbits brand and product line, Catharine gives us her advice for new entrepreneurs. 

Step 1: Know your “why”

Is important to know what your vision and mission statements are when starting a new business. Starting and building momentum is one of the toughest things an entrepreneur will go through. That is why it is important to build upon a foundation strengthened by your “why”. Why did you go into this business? Why are you passionate about your products? Why are you going through this difficult step of creating your own business? Not only that, but building a brand and just building a sales stream requires different approaches. So it is important to know if you are doing one or the other.

You have to decide why you’re building your company. You also have to decide whether you just want to build a sales stream or if you want to build a brand.

Step 2: Know your market

Catharine and ENERGYbits were in a unique situation where they were basically creating their own market. There were no other algae tablets in the market, which were being sold in mainstream platforms. All of the algae “competitors” were different enough, that ENERGYbits paved their own way. However, not everyone will be faced with this. Most new companies and businesses will have to dive into an already busy market, full of competition.

Being the only one in your market has its ups and downs. One of the downs being that funding was an issue for investors who didn’t want to gamble on something which didn’t have sales and marketing statistics to offer.

I had to batten down the hatches and know that I was going to be in for the long haul. 

Step 3: Don’t stop when it gets difficult

The problem that most startups run into is that they stop when it gets tough. But these tough moments are what makes good businesses. You can’t stop when the going gets rough. Don’t forget your passion and why you’re doing this, that will get you through those challenging times.

You have to be passionate about what it is you’re doing and why you’re doing it.

This interview is part of the How We Solve podcast. To hear more from industry experts who are solving everyday business problems, check us out on Spotify, Apple Podcasts, and on our website.

About the guest

Catharine Arnston

Catharine started ENERGYbits after her sister was diagnosed with breast cancer and advised by her oncologist that an alkaline diet would help her heal. Catharine immediately sprung into action to help her sister research alkaline foods and in the process she discovered algae.

How people can people reach the guest:

Website: ENERGYbits

To get a 20% discount code on the website, type “HOWWESOLVE” at checkout.

LinkedIn: Catharine Arnston

Twitter: @bitsforlife

Instagram: @energybits

Tell us your growing pains and we will connect you with the expert

Subscribe for How We Solve newsletter

*By giving us your contact data you consent to receive information and updates from How We Solve.