First, I would like to officially say that I am back – full time, back in the swing of things (after a few hiccups) and creating some amazing partnerships, programs, and content that are going to absolutely blow you away.
To kick off this new stage of SellingSpirits.com, I’m going to do a “blogathon” of sorts. Every week day for 6 weeks, I am going to post a new blog here on the site. You can come back and check Monday through Friday for a new tip, every day, to help you grow your beverage brand.
For my subscribers, as a courtesy I have also changed the frequency that updates are sent. Instead of receiving an email with each new post, you’ll now receive your emails on Thursdays to avoid overloading your inbox. You’re welcome!
Now, down to the subject of today’s post…
Adding an Advisor to Your Startup Beverage Brand
Look, everybody needs advice when starting a business. Even me. I have coaches and mentors and blogs that I follow, as I’m sure you all do. Even when you have years of experience and dozens of huge successes under your belt, there is no way that you can know *everything* there is to know about business.
The way a lot of companies, including beverage brands, work around this is to find a corporate advisor. In the first 3-5 years of your business, this can be difficult. Often you’re stuck between trying to manage costs (i.e. keeping them as low as possible) while growing the business effectively – which usually means at least a little bit of outside help.
Under30CEO (one of the sites I frequent for business tools and advice) recently published an article that I think will help you, if you’re currently facing this situation. It is appropriately titled “How To Add an Advisor to Your Startup“, and it is hands-down one of the best pieces I have seen on the topic.
To sum it up, you need to clearly define the advisor’s role and compensation – this can include equity, royalties, or straight compensation (although most commonly, unless you’re hiring a consultant for a specific set of outcomes or tasks, equity is the way to go.) Then draft an agreement that outlines your advisor(s)’s role(s), compensation, confidentiality, and your right to the work they do for and with you, including intellectual property.
I’m frequently approached by startup companies looking for an advisor, and I know it is one of the key ways that brands like yours can get the advice you need to succeed – so if you are actively seeking an advisor, or you may want to find one someday, I highly recommend reading the article to get some real hard-hitting and solid advice on the subject.
If you’re in need of a bit of inspiration today, I also recommend checking out my personal blog from Monday, October 22nd. Titled “The Secret to Success”, it explains why I do business the way that I do (giving so much away to you, my readers, passionately and without reservation) and how you can use the same principles to experience your own “Quantum Leap” in business and success.
That is all for today. Don’t forget that if you’re looking for someone who can help you beverage brand grow, you can always check out my advisory services. If you feel we may be the right fit, send me an email and I’ll do my best to help you in any way that I can.