#81. | Loowit Brewing Company, Part 2 | Staying true to yourself is always a good small business strategy
Welcome back to part 2 of our interview at Loowit Brewing Company with Co-Owner Thomas Poffenroth, Head Brewer, Landon Smith, and Sales Manager, Jason Green.
In this episode, we dig a little deeper into the background of each of our guests, how the Loowit Brewing Company got its start and how these guys all ended up here together. Also, we get into the business of brewing, discussing self distribution versus hiring a distributor partner, the importance of supporting local, as well as how tough it can be to jump in on niche beer trends.
In the end, we learned that Loowit is gonna do what Loowit does. And, we’re happy about that, because we love what they do, it’s great for beer drinkers and great for our community.
Staying true to yourself is always a good small business strategy
Finding your way as a new small business owner is really challenging. For us at TH3 Entertainment (the parent company of Business Over Beer), we are still refining our business model and have gone back and forth on various strategies.
One of the temptations is to put all your focus on trends and fads. Don’t get me wrong, understand the short and long term trends of your business, your industry and the broader market is a crucial piece of running a successful small business. Moreover, understanding the difference between a trend and something that’s trendy, is an important distinction.
In our latest episode, Loowit Brewing Co-Owner, Thomas Poffenroth, talked about the trend curve in brewing, and how being too far ahead of the curve can be just as bad as being behind the curve. Thomas says one of his biggest fears is becoming irrelevant, a fear that so many of us small business owners can relate to, and, if you are not careful, one that can easily send you off track chasing the latest shiny objects.
So as a small business owner, when deciding whether or not to put in your hard earned time and money to ride the wave of the latest trend, the first thing to ask yourself is if you are being true to yourself. Don’t change your business model if it means changing what you’re all about at your core. Follow the trends that align with your business model and your mission. If the trend turns out to be a fad and dies out quickly, you will be left with a product that still makes sense and you will likely still have some demand for it within your customer base.
But if you chase a trend that is counter to what you do at your core, even if you get the timing right, you may struggle to find a market, your current customers may not want it, and the new customer acquisition costs for something that is misaligned with your business can turn the opportunity into a liability.
In the end, take Loowit’s advice and keep focused on doing what it is that you do, and don’t be tempted to chase a brass ring that’s not the right fit for your fingers.