From toothpaste salesman to $2.4 billion…..
by Sunil Bali, 25-03-12
When an Austrian toothpaste salesman, Mr Mateschitz, arrived in Thailand suffering from jet lag, a hotelier recommended a can of the local pick me up, Krating Daeng.
So impressed was Mr Mateschitz, that whilst he was still in Thailand, he did a deal to market a less sweet, carbonated version of the drink in Europe.
Every piece of market research and testing however, suggested that the drink would flop. His business advisers told him that his new venture would fail and bring him to the verge of bankruptcy. But such was Mr Mateschitz’s belief in his product, that he ignored all the market research and expert advice and pressed ahead with a European launch.
Today, Dietrich Mateschitz has a personal fortune estimated at $2.4 billion and 4.6 billion cans of his drink were consumed last year.
Ps. Just in case you’re not fluent in Thai, Krating Daeng means “Red Buffalo” or “Red Bull”.
Quotes
We don’t like their sound and guitar music is on the way out – what Decca Records said about The Beatles.
You lack imagine and have no original ideas – what a manager at a newspaper said to Walt Disney when he fired him.
You’re too stupid to learn anything – what a teacher said about Thomas Edison.
Don’t make me walk when I want to fly – Galina Doyla
Humour
Thanks to Jags for these exam answers:
To your success,
Sunil
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