Right now there are about 740 distilleries in the US, and over 200 nearing their way. The distillery business is booming and it’s happening all over the globe. But what and why is this industry flourishing? How can other entrepreneurs become as successful?
It’s not about disposable income. Sure, having one will most-likely separate you from the pack. But lets be real, it costs A LOT of money to invest in a hopefully-one-day-global liquor brand. Not having unlimited funds forces you to get creative. That’s right, being poor makes you more creative and encourages you to be collaborative.
Here are 3 things that distilleries do really well, that all entrepreneurs can apply in their world:
1. Network with like-minded people and industry experts
Distilleries collaborate with their competition. They openly share ideas. This is still one of my favorite parts of being in this industry – the collaboration. The feeling that we are all in this together. So network with like-minded people and/or industry exerts. Take advantage of all the help and advice you can get. Distillers want to see the industry flourish and they understand it takes work and collaboration to get there.
2. Help others
We all know that pursuing a start-up is extremely challenging. These challenges demand support, coaching and assistance from others, so share the expertise you may have gained in a particular market with others. You will be surprised on the return you receive by maintaining a pay-it-forward mentality.
3. Tell everyone your story
Brands are built through consistent experiences and emotional connections to your story. Liquor brands are constantly putting themselves out there, telling their story and trying to get people to pick their brand over the competition. Since humans are wired to love stories, tell yours to everyone. Let people get to know you and your mission. Go to events that make sense for your brand, create experiences and memories, and build brand advocates to help tell your story for you.