There’s a reason why the whiskey industry is insanely popular worldwide. Even when other industries are facing a recession or any kind of low, you’ll see that the whiskey industry is still thriving.
The main reason behind this is the fact that it is based on principles that keep it afloat always: robust strategising, raw passion, focus and good storytelling.
These key ingredients are what make the whiskey industry lucrative, scalable and construct a brand that’s simply outstanding!
Mentioned below are 4 invaluable lessons that every business can take away from the whiskey industry.
1. Share Your Brand’s Story
A glass of whiskey becomes more magical and enjoyable when you know the story of how it came to be where it is, the history of all the distilleries it has passed through coupled with the appreciation of the intricate process involved in making it.
Us humans, we yearn for a sense of belonging which has a connection rooted in the past. And when you hold a glass of this rich amber liquid that was made with such passion up to 60 years ago, makes the connection more concrete.
As a business, you should ask what story is your brand telling? The very fact that every swig that you take contains an exclusive piece of history is what makes the entire experience more fascinating.
Figure out what impact your business has on its customers. Why will people want to buy what you’re offering? What emotion or feeling is it that will drive them to buy from you? If you figure this out, you’ll be able to attract customers who are very dedicated to your brand.
You can opt for a promotional product to leverage your stand in the marketplace. You can use branded pens for the same!
2. Be excited and zealous about your brand
Good whiskey and great brands are born because someone dreamt of bringing it to life passionately. When you take a sneak peek into the success of legendary companies like Apple, you’ll see that they all share one thing that’s common: They were all created by individuals who were zealous in their approach and passionate leaders.
It was their passion that drove them to create companies that were more than just a brand. They created a movement, a revolution!
You have to have unwavering faith, love and dedication in the power of your brand, your product and your services, if you’re going to create the same passion in the target audience. Being flavourful in the marketplace is what matters and if you aren’t as dedicated or passionate, it shows!
3. Filter your ideas and process them accordingly
If the distillation process of a whiskey not good, it won’t turn out to be as tasteful as expected. The distillation or filtering is what eliminates the contaminant so that the end result of whiskey is in its finest and purest form.
The companies and businesses that stand out, filter their ideas and products. They continue doing so until they arrive on a decision that’s really good. Find out what it is that you do best be it a product or a service and focus on that without any diversions. When you become good with filtering ideas, you can come up with ideas that are pure gold and further advance your business in your niche!
4. Plan ahead
The most crucial and captivating aspect of whiskey-making and running a lucrative business is the ability to plan ahead and make future projections by making market anticipations and where it’s going to be.
Making the perfect whiskey takes several years. More often it takes decades after the process first began that a bottle is sold. Due to this, several aspects come in the picture like political and climate change, technological advancements and natural calamities – things you never accounted for before that will now impat a bottle sitting on your shelf.
Like distilleries, businesses should cautiously figure out how much output to produce in a given year. They should also anticipate what sales will be like in the future. A common mistake that businesses usually make is to fail to take into account the time to plan ahead and make provisions accordingly.
To evaluate the possible risks, make plans for the unforeseen, and do not misconstrue the power of preparing beforehand.
Watch this space for updates in the Hacks category on Running Wolf’s Rant.