“We’d rather bet on ourselves than someone else.”
In 2011 there were 230 craft distillers operating in the US. Today there are approximately 750 which contribute to less than 2% of sales compared to the big distilleries. Even with those odds, Steve and Lisa Strong will tell you that they would rather bet on themselves than someone else. But isn’t that what entrepreneurs do?
The barrier to entry is steep. Federal guidelines require distillers to build their equipment and have everything ready to go before they apply for a license to distil. This means taking a financial leap of faith as there’s the possibility your application could be denied. And once approved, small distilleries pay the same amount of tax per proof gallon as the big guys.
S.D. Strong Pillar 136 Gin launched in May 2015, but it’s already won top honors in several competitions beating out better-known producers. If you’d prefer vodka, whiskey or bourbon, they have you covered too.
It takes more than making great spirits to operate a successful business. In this conversation from the cave 65 feet below ground, Steve and Lisa share insights, strategies and ah ha’s that you can apply to your business including:
- How to successfully work with your spouse while juggling separate careers along with building a business together
- The importance of making quick decisions
- How to make connections that don’t always make sense at first glance
You can listen to the episode here.
“If you give a man a cave, he’ll give you a good spirit.”
S.D. Strong Distilling offers tours on the second Saturday of the month. Check out their website for more details, and be sure to scroll all the way to the bottom for the full cave experience. If you like unique apparel and other cool products, then browse their store.
Stay tuned for Episode 17: Non-traditional Non-profit Leadership with CiCi Rojas