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Current issues at Binary Brains

Entrepreneurship & E-commerce Retail Club had a workshop related to current issues at Binary Brains.

Jacob Kihlbaum, CEO of Binary Brains started off by briefly explaining the company and its structure. Thereafter he presented two key problems that the company currently faces.

The first problem relates to branding. Binary Brains recently shifted their operations from serving multiple markets to serving one single industry (the restaurant industry). The firm now wants to know how this shift will affect the brand. The second problem was linked to the perceived difficulties in terms of scaling, as the investors do not see the potential for the firm to grow in Sweden. Binary Brains therefore aims towards growing internationally, USA to be specific. To do so, the company is putting effort into understanding American culture as it is believed to be crucial in order to build connections (which is needed when entering a new market).

The students were divided into groups where they were assigned to present creative ideas regarding potential solutions to these two problems. Some proposed solutions were to focus on connecting with small/medium-sized restaurants in America, while another proposition was to first expand to the Nordic countries and succeed there (as the market and culture are fairly similar to the Swedish) before targeting the USA.

Monika Profus, Key Account Manager, Entrepreneurship & E-commerce Retail Club

CFR Retail Retail Club