I read in an article in the Wall Street Journal that pelletized ice cream maker Dippin' Dots just filed for bankruptcy. I was personally never a fan of "the ice cream of the future," but I can remember the first time I saw it, and how much my kids wanted me to buy it for them every time we went to the shopping mall. For several years, Dippin' Dots was hot. Now they're not, and the company's boom-and-bust story is a reminder of the need to continually innovate new products.

According to the article, Dippin' Dots owes $12 million to Regions Bank, and the company has been in technical default on its loan for the past four years. Regions Bank demanded payment, and Dippin' Dots filed for Chapter 11 bankruptcy.

Unfortunately, as the economy slowly moved into the tank over the past several years, fewer and fewer people were willing to spend the several dollars that a small cup of Dippin' Dots costs. And for those with the money to spend, the novelty of the product had worn off. And for customers who liked the product, there was nothing new at the Dippin' Dots stand to make them want to come back again. 

Remember the old saying about not putting all your eggs in one basket? It seems that the owners of Dippin' Dots forgot that lesson, and now they may lose their business as a result.