From Wall Street to World-Class: 20 Takeaways from Athletic Brewing's Bill Shufelt
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Sunday Series, June 8th, Bill Shufelt, Co-Founder & CEO, Athletic Brewing Co.
I loved my conversation with Bill. It hit on a personal note as I gave up drinking almost 4 years ago. Bill had a similar epiphany when he too gave up drinking and started Athletic Brewing Co. The non-alcoholic beer category was stale and had limited variety. Bill and his co-founder decided to do something about it and launched a NA beer brand that had a breadth of variety and flavor that rivaled its full-alcohol competition. And in ‘do good, while doing well’ fashion, they incorporated a giveback component to their business: saving the environment.
“...for the first time in my life I had an entrepreneurial idea where I might be able to have a positive impact on tens of millions of people if done right and that was the moment where I actually first started considering quitting my job for the first time.” - Bill Shufelt
Coming off the recent drop of my conversation with serial entreprenuers, Mike and Kass Lazerow, this Bill quote resonates with me because it highlights the desire for purpose and impact that often drives entrepreneurs. Mike and Kass, with their focus on Cycle for Survival, understand the power of aligning business with a meaningful mission
Find Your "Why" Bill Shufelt talks about his personal struggle with work-life balance and how it led him to question the drinking culture. Implication: Your personal experiences can be a powerful source of inspiration for a business idea. Application: Reflect on your own challenges and frustrations. Could they be opportunities?
Challenge the Status Quo Bill questioned why there weren't more high-quality non-alcoholic beer options. Implication: Don't accept the way things are if you see a better way. Application: What industry norms do you disagree with? Could you disrupt them?
Focus on Quality, Not Just Sobriety Athletic Brewing focused on taste and experience, not just the absence of alcohol. Implication: Excellence in your product or service is paramount. Application: Are you truly offering the best possible solution, or just a "good enough" alternative?
Embrace the "Both/And" Mindset Athletic Brewing caters to both drinkers and non-drinkers. Implication: You don't have to limit your market. Application: Are you excluding potential customers by being too niche?
Build a Community, Not Just a Brand Athletic Brewing fosters a sense of belonging. Implication: Customers are more than just transactions. Application: How can you create a community around your product or service?
Don't Be Afraid to Start Small Bill talks about the early days of brewing in his garage. Implication: Every big company starts somewhere. Application: Don't let a lack of resources prevent you from taking the first step.
Find a Co-Founder Who Complements You Bill emphasizes the importance of his partnership with his co-founder. Implication: You don't have to do it alone. Application: What skills or perspectives are you missing? Seek out a partner who fills those gaps or is A+ in areas where you’re a C+ or B-!
Be Patient and Persistent Building a successful brewery takes time and effort. Implication: Overnight success is a myth. Application: Are you prepared for a marathon?
Embrace Authenticity Bill's genuine passion for the product shines through. Implication: People connect with realness and can see your passion. Application: Let your personality and values be a part of your brand.
Focus on the Customer Experience Athletic Brewing prioritizes the entire experience, from taste to packaging. Implication: Every touchpoint matters. Application: Are you considering the entire customer journey?
Be Willing to Take Risks Starting a non-alcoholic brewery was a gamble. Implication: Innovation requires courage. Application: What calculated risks are you willing to take?
Don't Be Afraid to Disrupt Athletic Brewing challenged the traditional beer industry and disrupted the NA beer category. Implication: Change can be a good thing, if done right. Application: What industries are ripe for disruption?
Build a Strong Team Bill emphasizes the importance of his employees. Implication: Your team is your greatest asset. Application: Are you investing in your employees' growth and well-being?
Stay True to Your Values Athletic Brewing is committed to sustainability and giving back. Implication: Your values should guide your decisions. Application: What are your core values, and how are you living them out in your business?
Be Adaptable The company had to adjust to changing market conditions. Implication: Flexibility is key. Application: Are you prepared to pivot if necessary?
Celebrate Small Wins Bill acknowledges the milestones along the way. Giving employees days off to pursue passions outside of work. Implication: Success is a journey, not a destination. Application: Take time to appreciate your progress.
Don't Underestimate the Power of Storytelling Bill's personal story resonates with customers. Implication: People connect with narratives. Application: What's your story? How can you share it authentically?
Be Passionate About Your Product Bill's enthusiasm is contagious. He and I were drinking our favorite Athletic Brewing Co beers during our recoring! Implication: Passion is a powerful motivator. Application: Do you truly believe in what you're selling?
Focus on Long-Term Sustainability Athletic Brewing is committed to environmental responsibility. Implication: Think beyond short-term profits. Serve your community or causes that matter to your employees and consumers! Application: How can you make your business more sustainable?
Give Back to the Community Athletic Brewing supports various charitable causes. Implication: Doing good is good for business. Application: How can your business contribute to the greater good?