The Beverage Industry market can be very lucrative. If you are developing a new drink, here are ten tips for you. I call them simple do’s and don’t of the beverage industry.
Do: Be a beverage CEO and hire the best talent.
Don't: Try to be a beverage formulator or logo designer.
Do: Bottle a small batch of your product, investing heavily in marketing.
Don't: Invest in a large production run to save money.
Do: Consider who you will use as your distributor and how you will sell your drink.
Don't: Focus first on creating and designing your drink and logo.
Do: Develop a sales-based business model.
Don't: Saturate your business model with beverage industry research.
Do: Raise as much capital as you can as fast as possible.
Don't: Worry about dilution or control; instead, get an intelligent advisor or business coach.
I've written the third edition of my beverage book, Build Your Beverage Empire, to give you a reliable reference and insight into the beverage world. You can find it on Amazon.com.
Contact me at www.JorgeOlson.com if you need help with your beverage project. Visit www.mastermindgroup.us for information on online courses and mastermind groups.
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