Start a Distillery

Several Projects Available for the Next Cycle (5 - 6 weeks)

The major projects are listed below. I am inclined to say that Project 1 definitely needs to be included in the next cycle, alongside Project 2, though I need some help clarifying what that might look like. Project 3 might not be possible to fit in a single 5 - 6 week term.

Project Option 1: Marketing Presence

In speaking with a distributor, I need 3 things:

1. A product

2. A marketing presense

3. Funding

Due to travel plans, I won't be able to focus on #1. I can, however, focus on #2 and #3. On the Marketing presence, I have a few options

• Could do this myself based on a strategy I have already drawn up

• Could hire someone to do this outright

• Could get a business partner who is marketing oriented

I am inclined to test with the 1st option laid out in Multi-Project Entrepreneurship. Once I have advanced far enough into my customer understanding, I will know more on what is needed.

Funding, at this stage, appears to be upstream of a marketing presence & product.

Outcomes: Need to establish an ability to reach out to potential customers at least once a week. Also need to have the website up with a regular cadence of content-sharing. I need to have developed a Customer Journey Map and an Outcomes Map, which will serve as a flexible "business roadmap" for future cycles.

Project Option 2: Finding Partners

I have felt for some time that I am not the only one that needs to be involved in this project. I need to spend some time finding at least one other person to work alongside me in this journey. Uncertain on whether this should be done alongside of the work that I'm already doing, or whether a special effort needs to be spent on it.

Outcomes: Find someone who is the "tactician" for this project. Potentially a subject-matter expert.

Project Option 3: Product Development

If a following and customer understanding is evidenced, I could start trying to raise funds. But before that, some product will likely be needed. I coudl do this in a few ways:

• I could create my own recipe for a white spirit that would be used for production out of the gate (would have to contract produce this)

• I could pay a consultant to help me develop the recipe. This saves time to market, but costs more

• I could purchase brown spirit from someone who has existing barrels, and combine it with the approaches above to have both a white and a brown spirit at the distillery right out of the gate.

  
  

These options are dependent on the findings noted in the 1st project.

Outcomes: Have a bottle with labeling in place and spirit in its container for tasting / prototype purposes.

Project Option 3: Funding

Also some options here:

• Self-funding

• Community-based funding through Mainvest

• Partner funding

• Formal investor raising

My preference is in the order listed, though the requirements would be dependent on my findings from the above and the willingness of my distributor to take a contract that is lightly funded.

Outcomes: Have enough funding to support operations for first year. Also have enough funding to satisfy distributor to be able to sign contract.