Liquor magnate Mike Repolewho sold Glaceau and BodyArmor to Coca Cola Co. (NYSE:KO) for nearly $10 billion, warns that entrepreneurship is much riskier than most success stories suggest.
Repole warnings against startup risks
Repole, 56, said in an interview with the School of Hard Knocks, a social media channel featuring successful entrepreneurs, that he often discourages people from starting their own businesses. reported Fortune.
“I spend more time convincing people not to be entrepreneurs,” he said.
He added: “I call the first five years for an entrepreneur the survival years. Any day you can go bankrupt.”
Highlights from a billionaire’s career reveal both success and hardship
Repole co-founded Glaceau in 1999, which produced Smartwater and Vitaminwater, and sold it to Coca-Cola for $4.1 billion in 2007.
He later launched BodyArmor in 2011, securing investment from NBA legend Kobe Bryant before selling the majority stake to Coca-Cola in 2021 for $5.6 billion.
In between ventures, he was also chairman of snack company Pirate’s Booty, which grew 300% before its 2013 sale. Despite these achievements, Repole emphasized the uncertainty inherent in business.
“There were days when I thought we weren’t going to make it,” he said, noting that he failed several times along the way.
“Crazy people change the world,” he added, reflecting on the bold mindset that is often required to succeed.
Related: ‘I’m always in a state of anxiety,’ says Nvidia CEO, while $5 trillion Triumph still feels ’30 days from going bankrupt’.
Speed and urgency are the key to startup success in AI and technology
Earlier this year, CEO of Perplexity Aravind Srinivas said speed and urgency were crucial as his AI startup competed with tech giants like Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Microsoft Corp. (NASDAQ: MSFT)And Apple Inc. (NASDAQ:AAPL).
In a Reddit AMA in May, he admitted he was working non-stop to stay ahead and warned in June at Y Combinator that bigger companies would inevitably copy successful ideas.
He emphasized the need to act faster than fear, that urgency was seen as a protective moat, and urged the founders to focus on mastering AI, emphasizing that adaptability and perseverance determined who would do well.
Likewise, startups that moved slowly or avoided risk often failed to grow.
Founders who succeeded chose the right problems at the right time, demonstrated a strong fit between the founders and the market, delivered quickly, learned from customers, and iterated quickly.
Customer obsession, early alignment of teams, smart fundraising, ruthless prioritization and resilience helped them deal with setbacks.
Those who executed with speed, focus and adaptability gained investor support and turned their vision into scalable businesses.
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Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.
Photo courtesy: Shutterstock
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