Written by Craft Breweries – Part 3 of 5
In 2020 the word for most Craft Breweries was “survival.” Yet we know businesses focused only on surviving rarely succeed. Growth is survival. What lessons can we take away from 2020 and how can it help Craft Brewery owners focus on growth? There are two key lessons to focus on.
- The first observation from 2020 is how Craft Brewery owners quickly responded to a rapidly changing world as COVID shut down tap rooms, bars and restaurants. It was a combination of innovation and rapid response. Owners were forced to rethink how to deliver their product and keep the customer coming back. The business model was never “curb side” service but it quickly became the lifeline for many Craft Breweries. Challenges faced in 2020 proved there are ways to survive outside the planned business/distribution models. Growth is essential and the lessons learned in 2020 will help going forward.
- Craft Breweries relied on their fan base throughout the past year. It was the fans who made the effort and who came back and who encouraged friends and family to support the business. This was more than a “club” fan base, these were true fans. Fans go out of their way to support you. They buy a little extra to share with their neighbors and they tell your story for you. Yes it is important to focus on top line growth but don’t forget the fan base is the foundation for your business. Take time at the end of this year to understand who are your biggest fans and how to grow your fan community.
There are many things we cannot control, focus on what you can. Gain confidence from what you learned in 2020 and grow your fan base. In addition to all of the basics of business these two things will serve you well.
Coming in Part 4 – Protecting Today