How To Launch a (Spirits) Company

New Orleans, July 2014

OUR GOAL FOR TODAYFirst..

GOAL

A KICK IN THE ASS.

GOAL

CONFIDENCE.

GOAL

REASONS FOR FAILURE…1. Partnerships!2. Cash Flows3. Unclear Vision4. Unclear Customer

BEGIN!?So…

The Caveat

Advice is a form of nostaligia. Dispensing it is a way of fishing the past from the disposal, wiping it off,

painting over the ugly parts, and recycling it for more than it’s worth.

- Mary Schmich

So… Begin!?

“If you think you can do it, oryou think you can’t do it,

you are right.”

- Henry Ford

So… Begin!?

1. The Elevator Pitch (60 sec)

2. The Investor Pitch (25 min)

3. The Business Plan (30-60 pages)

So… Begin!?

Excuses, excuses..

THE IDEA.

The Idea

“Trust thyself: every heart vibrates to that iron string.”

“In every work of genius we recognize our own rejected thoughts: they come back to us with a certain alienated majesty. Great works of art have no more affecting lesson for us than this. They teach us to abide by our spontaneous impression with good-humored inflexibility then most when the whole cry of voices is on the other side. Else, tomorrow a stranger will say with masterly good sense precisely what we have thought and felt all the time, and we shall be forced to take with shame our own opinion from another.”

- Emerson

The Idea

TRUST.THY.

SELF!

The Idea

“Ideas have no value, if they did,there would be a market for them.”

- Unknown

The Idea

Beware of solutions in search of a problemVitamin or Pain Pill?Beware of all things to all peopleEntrepreneurial opportunity?A clear WHYEasy to understand?

The Idea

1. Distill it down to it’s essence – The Elevator Pitch. (Reasons for failure #3 and #4)

To <customers>, that <problem being

solved>, we offer <solution>. Unlike <reference set>, we provide

<unique advantage>.

The Idea

2. The Investor Pitch – Expanda. Executive Summaryb. Propositionc. Teamd. Window of Opportunitye. User Adoptionf. Marketg. Financesh. Risk

The Idea

3. The Business Plan.

The Idea

3. The Business Plan.

Does anyone ever read Business Plans?

PARTNERS

Partners

Reason #1 why start-ups fail!

Partners

Go it alone, or with partners?

How many partners?

Who to partner with?

Partners

How to avoid break-downs:1. What would love do?2. Clarity in absurdum3. Lawyer the fuck up4. Skin in the game5. Vesting schedules6. The Triangle Exercise

Partners

WHY?

PartnersLife Style

Growth Social

PartnersLife Style

Growth Social

Partners

What partners?• A clear leader• Complementary skills, knowledge• Clear role allocation• Get a numbers guy• Experience in entrepreneurship is a

big plus

MONEY

Money

Rule #1 – don’t need money

Money

Rule #2 – money will come when it needs to come

Money

Rule #3 – Never, EVER accept Personal Liability

Money

Sources – The Traditional View1. The 3 F’s2. Angels3. Venture Capital4. IPO

Money

Sources – Outside the box• The 3 F’s• Crowd Funding• Crowd Lending• Amex• Government Grants• Sponsorship• Factoring• Favors

Money

Profitable

≠

Cash Flow Positive

Money

Projections

LIVE THE DREAM (Q&A)Now Go Forth..

LIVE The Dream

You can’t dabble in entrepreneurship

LIVE The Dream

Constant Personal Improvement

LIVE The Dream

“Failure”

LIVE The Dream

“I have not failed. I have successfullyidentified 1,000 ways you can

not construct a light bulb”

- Edison

LIVE The Dream

Marathon not a sprint

LIVE The Dream

Company Culture

LIVE The Dream

Small Stakeholders

Thank You.

Backup Slides