In the highly competitive beverage industry, differentiating your product is key; a strong story paired with an even stronger omnichannel strategy is a recipe for success. Here to help entrepreneurs refresh their strategy is Co-Founder of Key Sparkling Water, Mike Pilkington!
Mike and Wes sit down to crack open the secrets to success in the food and beverage world. Mike shares his lessons learned from Deathwish Coffee, the importance of hiring a HR partner early, and why you need to know your brand’s story.
Takeaways:
- Success in entrepreneurship is all about the people. It’s one thing to have a vision, but it’s another to take that vision and bring others together around it. A good team that drives greatness is crucial.
- Extending your passion to your employees is the secret to scaling a small business. When your employees are as passionate about the mission as you are, they feel ownership of results and work hard.
- An HR partner is an essential early stage hire. When your HR partner is aligned on mission, they will hire people who are stronger fits, and will help make a cohesive company culture.
- Every company needs to have a culture of accountability. Whether it’s about owning client deliverables or taking out the trash, you want employees who say “I’ll do it” rather than ask “who will do it?”
- In a crowded market, knowing your brand story is what will set you apart. Understanding what makes you unique, why a customer would buy your product, and the problem that you are solving for them will help differentiate your company.
- Understanding where your customers are is key to your distribution strategy. While many consumers buy beverages off a store shelf, DTC allows you to better control your narrative, and platforms like Amazon give you a wide reach.
- When you are running an omnichannel strategy, it’s important to stay consistent across all channels. While messaging can vary by channel, it’s best to keep pricing and promotional details consistent.
Quote of the Show:
- “We weren't selling coffee. We were selling a way you felt every single morning. We were selling a movement. We were selling camaraderie.” - Mike Pilkington
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