Most people start a business in hopes of it becoming successful. All one needs is the right idea or inspiration and resources to implement the idea. In fact entrepreneurs create a lot of today’s businesses. What can we learn from them? Take Dr. Barry Nalebuff, a professor at Yale School of Management and founder of Honest Tea. His inspiration came when his needs for tea were not met at his local grocery store. He then applied economic theory to the beverage industry and believed that a drink should have less sugar, less calories and a lower manufacturing cost.
He teamed up with a former student and in 26 days, Honest Tea was born. They eventually sold Honest Tea to Coca-Cola Company in 2011. Dr. Nalebuff did not stop there. After he launched the product, he managed to run into Oprah Winfrey at a yoga retreat, and offered her a sip of his Honest Tea. Oprah was so impressed she featured Honest Tea in her O magazine. The publicity from the magazine propelled Honest Tea to new heights. As the story shows, part of being an entrepreneur is taking risks. If Dr. Barry Nalebuff never attempted to create a tea in the way he liked, Honest Tea would've never become a product.