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Adapting to the long-term game

Adapting to the long-term game

Adapting to the long-term game

Sometimes in business there's no time for whining - you've simply got to roll those sleeves up and readapt to the constantly shifting surroundings.

This was exactly what Greg Snell, owner of the home wine-making kit Winepod, recently had to do.

His company has just been featured in a CNN Money article entitled 'A hot wine startup hits 'pause': Greg Snell's Winepod attracted a waiting list of eager buyers and millions from investors. Then the recession hit.'

The focus of the article is how the shift in the global economy forced Mr Snell to make some significant decisions and changes - and not necessarily for the better either.

However, it may not all be tough going from here on in for the Winepod inventor. With his company receiving such exposure on the hallowed pages of CNN Money, he could find things starting to improve. Online PR can be a fortune changer.

Initially, the Winepod burst onto the scene as dramatically as the grapes crushed within it, with both investors and buyers practically piling over one another to get involved.

So popular was it in fact that Mr Snell had to draw up a waiting list for all interested parties - he simply couldn't meet the demand.

Just as things were starting to look up, the recession arrived and the home winery revolution was put on hold.

Mr Snell had to let his entire workforce go and relocate his offices to his own home in order to minimise costs.

However, he was not going to give up that easily. With belief in his product, he set about figuring out how it could best fit with the downturn.

The answer? Much like his company, Mr Snell downsized his product.

Not out yet, the product will be much smaller and cheaper and therefore more accessible for recession-hit consumers. The price is expected to drop by an extraordinary $4,000 from $4,500 to less than $500.

Whether Mr Snell's new product matures well and slips down as easily with the consumer as its predecessor remains to be seen. Much like a good harvest, time will tell.

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Adapting to the long-term game

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