881. Listener Q&A: How To Prepare For The Unknown, Bring Your Vision To Life And Expand Into Bigger Networks
4 May 2022 · 35 min
Lori Harder and Lauren Kuhlman answer listener questions about preparing for business surprises, launching a beverage product from concept to market, and networking your way into bigger circles. They cover contingency planning, researching co-packers and minimum runs, building a pitch deck, and how to add value when you're trying to get noticed.
Chapters
How do you prepare? By learning how to take faster action instead of feeling paralyzed or letting yourself dwell on why did this? Instead of saying, why did this happen? What did I do wrong? It's like, how do I get through this? And how can we make sure this doesn't happen again? Hey, everyone. Welcome back to the podcast. Today we are doing another episode of behind the Scenes of Building a Business. And I'm sitting here with my co host, Lauren Kuhlman, and you guys. If you want to be able to text your questions to us and let us know what your questions are, you first have to join the text list because that is what we're doing today. We are going to be answering all of your questions. So you can text the word light pink, L I T E P I N K. That is two words, L I T E P I N K to the number 310-496-8363. And Lauren will send out a text usually once a week or every two weeks where we are asking for your questions for this podcast and potentially giving you a shout out on what those questions are. So, Lauren, what are some of the questions that we have from our listeners today?
All right, so the first question is how do you best prepare for the unknown challenges of life and business?
This is such a great question because sometimes I think we get stuck here. Instead of just moving forward and taking action on what is in front of you or before even getting started, I feel like a lot of people are stuck on what happens if. Or what if I don't see this coming. And Lauren, I know in this business there are so many things that even if we sat for a whole freaking year and tried to prepare on, we would have never seen them coming. I think this just happened with us, right, with a contract recently where we literally spent like a week solid being like, okay, what could possibly go up in price? What are some unexpected prices that might end up being added to this? And we did all of these different things with this contract to make sure that we were fully prepared. And yet just one week after signing it, there were extras on there that we, that we were not prepared for. Because there are some things that you just, you can go over everything and something can come up outside of scope or something that you didn't see coming that could, you know, prices could, could be raised, things like that. So I don't necessarily think that you can prepare for everything, but you can do what we did. Whether it's a contract or whether it's just in life in general. You have to Just sit and say, what are all of the obstacles that could potentially get in my way? Write down all of those obstacles. If this, then that kind of idea, if this happens, then I will do this. If this happens, then I will do this. If something arises that I didn't see coming, then I will do this. And that's pretty much I believe, every day as an entrepreneur, don't you, Lauren? Like, every single day is running a business. Is if this, then that you have to just know that you will figure.
It out 1 million percent. I feel like that's literally our day, every single day. And I'm just used to it now. So you prepare the best, like you said, of asking any upfront questions you can possibly think of and expecting for the unexpected. So you're not surprised, but you just can't be surprised when, like a challenge comes up that you haven't thought of still, because it's going to happen. So you just say, okay, from here, what's my next best option? This is maybe the worst case scenario, but what's my next best option to get me out of this? Because there is a way to get out of anything.
You bring up a really great point. Because I think that the main thing that I want to drive home here is just learning how to not sit in the surprise or feeling surprised. Like, the faster that you can just say, okay, what's the solution? That's how you're going to prepare. Like, that's literally how you're going to be ready for the unexpected, is to know how you're going to react in the unexpected. I think for a lot of people, they're just like, well, I don't know what to do and I feel paralyzed. The faster that you can say, okay, when unexpected things occur, I'm going to call a meeting immediately. I am going to take instant action. I'm going to call a mentor. I'm going to try to get a hold of somebody, even if I don't know them, who's been through this before. Like, how fast will you take action when the unexpected occurs? And I think that that is the thing that makes us feel like we can get through anything is because we're such action takers. So how do you prepare? By learning how to take faster action instead of feeling paralyzed or letting yourself dwell on why did this? Instead of saying, why did this happen? What did I do wrong? It's like, how do I get through this? And how can we make sure this doesn't happen again?
So true. And I also feel like it's happening always for us because we're always growing from these. So we wouldn't be where we are if we didn't have the challenges we have literally every single day. So don't try to avoid the challenge. Just know that it's going to come maybe every single day. But you're getting stronger and growing and learning so much to set you up for what is still coming your way. I'm kind of grateful that we have a challenge every single day.
I couldn't agree more. Because now the confidence that you build and the wisdom that you get from the challenges is irreplaceable. It's almost like even if we sat down at a table full of mentors in the beverage industry and the alcohol industry, it's almost like, yes, it's great to hear it, and yes, it helps us avoid things by learning through their problems, but when you go through them on your own, it is like an irreplaceable, unshakable confidence feeling when you get to the other side of them. And because of the challenges that we have gone through, I'm kind of like, okay, throw it at us. We'll figure it out. Like, we will absolutely figure it out. And I know that we couldn't sit here right now both smiling and shaking our heads if we haven't gone through the laughable challenges, meaning the crazy challenges that now we can laugh at. But in the middle of it, we were not laughing, actually. We might have been like, holy shit. I actually can't believe this is happening again. But now, yes, real feeling of, like, this is life. Like, roll. I truly know where the saying roll with the punches came from, because they're daily. But they don't have to be negative. They don't have to be negative. They're just problems that are requiring your brain to come up with solutions. And that is running. And I look at who's successful in business, and it's the people who just look at everything as just a thing. It's just a thing happening. It's not something against you. You're not doing it wrong. You're not a freaking failure. Because things are going wrong. They just go wrong. It's just what it is. And the more that you can come at them with just solutions, the more you're going to be successful.
Yep, 100%. So just become solution oriented and you're going to figure everything out.
Amen.
With fast action.
Yes.
All right, let me add quickly to that. Yes, we got to wrap that one up with the fast action. That was huge. Okay. So second question is how to get from concept to pitch to bringing everything to life.
When I was first thinking of light pink and doing a beverage company, the first thing that I did was I googled how would I start a beverage company or how to start a beverage company. And then because it was alcohol, I had to start googling how do I start an alcohol company or a direct to consumer wine company. And it brings you down this massive rabbit hole and you have to then start thinking of what would my first step be. And a lot of times when I was googling how to start a beverage company, they talked about something called a flavor house or getting a formulation. So what does that mean? It means like coming up with your actual ingredient list and figuring out what you want this made. So I googled what is a flavor house, and all of these different options came up of actual places to create beverages. And then as I was researching the flavor houses, some of them do alcohol, some do not. And then as I started researching the ones that do alcohol, some do hard alcohol, some do wine, some just do wine, some do both. So then you have to figure out, okay, do I want this in a bottle or can? Because some only do bottles and then some do cans. And then it was, what size do I want the can? Because some only do 8 ounce cans. So it was really getting clear on.
Like, oh, wow, every single rabbit hole.
Is taking me down a new place. And it's a lot of research, it's a lot of time, but it's really, really fun because it's something that you're interested in. And I just remember spending months, the first two to three months every single night on Google and just reading these different flavor houses, different can sizes, different can options, certain formulations can't go in cans. So really kind of starting to learn as much as you possibly can about this concept that you're starting to look at. So, you know, depending on what your concept is, maybe you want to make fitness caps for high ponytails, maybe you want to make a breathable yoga pant, but you're going to do it totally different. Maybe you want that little butt pucker wedgie thing in the back and you'd start googling what that looks like and how to do that and who manufactures those. And maybe you'd be like, oh my gosh, I just found out Gymshark has the same kind of style I want. Why don't I find out who they get manufactured through? Because sometimes that manufacturer could manufacture for 30 different companies and you don't even realize it and then they just slap a little like Gymshark label on there. I don't know if that's how Gymshark does it, but this is how a lot of companies do it, right Lauren? Like we were just in wine country in Sonoma and found out that we went to a sparkling winery essentially who makes a lot of sparkling wine and.
They do all of the majority of.
The sparkling Wines for the US.
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It like if you want a sparkling wine, you could potentially white label, which means it's just one formulation and you put your label on it. So there's so many things out there that you don't even realize that you just need to spend the next month researching this idea that you have and potentially what is the closest idea that is already in existence to the concept that you have? And then find out, who do they use? Who's their manufacturer, who's their co packer, what's their warehouse? Where are they sold? Who are the people behind it? Do those people have a book or a podcast or a website that talks about what they're doing? So it really is just a giant research time when you are starting to think of a concept. And I can tell you that no matter what your concept is, there is a way to do it or do something close to it. It's just up to you to put in the research and ask the questions. And even if it hasn't been done before, it doesn't mean that it's a bad idea. It just means that you need to find the right people who can figure out how to bring this product to life. I will say if there's not a lot of it out there, it could mean that, number one, you've landed in the world's most incredible white space of all time. That you are about to come up with something that is so crazy unbelievable. But it could also mean that there might be a whole lot of walls. There might be reasons for why this has not happened yet. There might be laws that are in place why you can't. But I don't even think that laws that are in place, even if they are in place, it doesn't mean they can't be changed. And what do I mean by this? I mean, even with direct to consumer wine, this was something that was not very doable before for Someone like me, who is not a winery to be like, hey, I want to have a wine company and ship direct to consumer. This wasn't even legal not that long ago. You know, like five, 10 years ago, it wasn't even legal. But laws have changed and they're changing even more right now because of people like me rooting. They're asking to change the laws. And then also, I don't know if you guys are watching the Netflix series, the Uber series. They actually launched what they were doing illegally. Not saying you should do this, but I'm just saying go watch the series. And they ended up changing a law because of what they were doing. So with that said, anything is possible when you are thinking about a concept and bringing it to life. So concept to pitch, what you want to do is come up with how your concept is going to work. So that's why you're doing all of this research. You're going to show who you could potentially use. Doesn't mean you have to be using them, but you're going to show how this potentially could come to life and you're going to put it in a pitch deck. Now, if you don't know what a pitch deck is, you can literally Google how do I make a pitch deck? And Google will show you a bunch of different pitch decks. You can start to research what goes into a pitch deck, what is the most basic pitch deck? And from there, ask somebody who either have a business like yours or who is out in the world, ask them if they will just review your pitch deck and what they think of it. If they say no, find somebody else. If you are somebody who is like, this is really hard. Everybody's saying no to me. I don't know what to do. And you find yourself giving up, then I actually don't think you're somebody who should be an entrepreneur. And I'm not saying that rudely. I'm literally saying if you are discouraged by walls and by no, then the entrepreneur route is probably not for you, because that's all there is. And when people hear no over and over, to know that you are a true entrepreneur who should be one. And this is not like a I really am in the world of look, it may not be for you, but there's a million positions in the world that you're so needed and you're so important and you're going to cause such a beautiful ripple effect in the world and your purpose is so huge still. But if you're somebody who's very discouraged by walls and by No's, then this is bringing something to life is absolutely not for you. Because that's all that this path is paved with is nos, and this is not possible and you're crazy and this isn't going to work. That's all I've heard since the start. So I think that that's the first thing that I want to say is that no is just the very beginning of the start and you should have hundreds, if not thousands of no's before your concept even comes to life. And people see the pitch. So from there, getting yourself together, a pitch deck, that's just more about the Google machine. So I'm not going to go too far into that because those are your first steps. Those are the most important things, is research how this concept will come to life and then put it together in a pitch deck. And then from there that's really. We can do a whole other podcast on that. But those are the two most important things that you can start with.
Can you also explain to people if they need a pitch deck? No matter if, if they're investing or if they're getting investors, or if they're not getting investors, do they need a pitch deck still to bring to a manufacturer, depending on what they're creating?
I definitely would, because people are going to want to see what you're thinking. So let's say we're even going to a manufacturer or co packer, they're like, okay, well what size cans do you want? What do you want this to look like? Like they need to know what you want to create. So a pitch deck, at least for the concept of how it looks, looks, what goes into it, how you think you want it to be made, what do you want it to be made from? What do you want it to look like? How do you want this to ship? What do you want it to ship in? Like they need to have all of these ideas. You need to essentially picture it as you're going in and showing them exactly what you want. And then from there it's obviously going to change. You have to be really flexible. But then some, some things you don't need to be flexible on. Right. Like Lauren, we thought that we were like hell bent on a painted can because we thought it felt more luxurious. We were hell bent on gold lids because we just thought it was stunning. Except we can't afford the painted cans because we can't order a million at first, which I hate even saying we can't afford it, but we will very soon. It's going to be great. And also the gold lids it was. We had to order a million at a time. So guess what? We are doing beautiful wraps with silver lids. And that's what we're doing for now. Will it change? Maybe, maybe not. Because we ended up finding a way to make those look incredibly luxurious and beautiful. But those were some things that I went in and I was hell bent on. I was like, nope, this is what we're getting. And we knocked down every door and still got the same answer. So because done is better than perfect. And we said, how can we make the very, very best of what we have to work with right now? That is what we're going with. So I think being hell bent on certain things, like we have a definite look that we are not giving up on and that we have, like iterated so many different times, so many different iterations to create the exact look that we want. And we're not launching without the look that we want. But it may be, it is in a different way than we thought from the beginning.
So true. Yes. Okay, so then as far as pitch to bring it to life, we haven't.
Really touched on that yet. So you have your pitch deck. Whether that's for a CO packer, whether that's for a manufacturer, or whether that is for an investor. And for some of you, you may need to start thinking of investors pending on. When you go to a manufacturer or when you talk to someone who is doing this, you're going to want to ask for the minimum runs. Like, what are your minimum numbers that you can start with? So let's say it's a facial product and you know, you want it to be from this manufacturer because they use all organic ingredients and there's only a few who you can find who do this. You need to ask those manufacturers that you want what their minimum run is of the thing that you want. Obviously starting with less SKUs, meaning less items is better because your cost is going to be lower. So with that said, you ask what that minimum amount is to run it, and then your packaging, how much does that cost? And you get your numbers together, a rough estimate of your numbers, and you say, okay, do I have the money to start this in bootstrap? Like, if you put together your numbers for your website, like putting together all of your numbers, what will it cost to get this out to the public? So putting that together and looking at, can I afford this? Can I take out a loan on this to do this? How much would the financing be on that loan? What does this look like? How Do I feel with running this for the next two, three years at this cost and deciding, do I want to raise money, do I want to take out a loan, do I want to crowdfund? These are all different things that you can look at. Most people will probably need to. Actually, there's a lot of people who bootstrap. If you do like a very small run, which I think is a really great way to start, like, let's say, Lauren, you want to start a face lotion and you find out that your minimum run with all of your packaging to do 100 of them is $5,000, I would say, you know what, let's definitely bootstrap that. Do not raise money for that. Let's do a small run and just see if your audience even wants it. Like, let's see if you sell out of that 100 within the first month. Like, this is a really great way to test your market and see. So I would say bootstrap whenever possible just to even see if the concept works. But then if you have an idea that you want just to scale really fast, you want to get out to the masses, you already know that this concept would work because you've tested it within your audience. Whether that was with selling something that was similar to it, whether you know you have an audience that really buys from you already. Maybe you're a celebrity, maybe you have a following of a million or more people, maybe you have hundreds of thousands of people and you have an incredible mailing list that you've been selling to for a lot of years.
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Then you could say, okay, if I want to raise money, what does this look like? What are my options to for raising money? So that's really what this would start to look like. If you want to start with a higher run of things, if you want to scale in a bigger way, meaning hire people in your company to help get it out who have gotten other companies off the ground. Scaling fast can look like, like I said, hiring teams who have done this before, it can look like raising money to be able to do a large campaign, like an advertising campaign. But I think scaling fast is definitely about the team that you hire.
So true. And then knowing that from the beginning, like do you want to do this on your own or do you want to do it with other people or one other person or a whole team, what do you actually want your day to day life to look like? Because even for you, you're like, I know what I want, I know I don't want this and I know I do want to keep it small. So that's good. Knowing, knowing what you want before you even go into this route as well. What do you want your work style to look like in the next couple of years?
Oh yeah, that is such a great point that you just added. And you know, in the beginning it was like, well, I could totally bootstrap. I could start really small and I could do it all myself. And I had done this before and I had spent lots and lots of hours working myself to death and I was like, I don't think I want to go that route again. And I actually don't think it's in the best interest of the company to bootstrap and be doing all of the work that I am not good at. So I raised money to hire a financial team, to hire an amazing chief of staff, to hire Yego who is helping us put together our co packing and our manufacturing and someone who already knows so that we're not doing all of the research. And Diego is an amazing person who is doing all of that for us. And these are just things that if I was doing this myself, I wouldn't have slept. Like, I wouldn't be sleeping whatsoever. I would be working probably 18 to 20 hours a day and be absolutely miserable. And I would never be able to bring this thing to life. So there are definitely those people who, they are on board for that. But I don't believe that that is in the best interest of a company, in my personal opinion, because I really, really believe in creating things to have sustainable entrepreneurs and sustainable employees and really thinking, like, long term, what does this look like for their health and their life?
Wow. Yeah. So smart. I love that you said mainly with this whole from getting your concept to pitch to bring everything to life is doing as much research as you can in the beginning and knowing what you want, think about your exact life, what type of thing you're building and what type of team you want to build. And then know along the way too that you're still going to continue to do research because you're going to still go down rabbit holes and get more and more and more information as, as you go through the process. So you're preparing as much as you can and then still doing the same thing every single couple days. Seriously, as it goes on, maybe every day. Like, you're still doing so much research, not just up front, but ongoing as well and tweaking. But you at least have your game plan out there upfront and knowing that it will change slightly along the way. But I think that's good to map it out first and then just keep adapting.
You know, while you're mapping, you're not going to feel like you know anything. You have to ask a lot of questions and continue to just Google like a maniac and see if you can get on the phone or email people who are in your business, who are in your genre of whatever it is that you want to do. Because there's so much on the Internet, you guys. And there's a lot of, you know, if you find a business that you love that is like what you want to do, research the founders and the people who were involved, whether that is on LinkedIn or whether that is searching their name on podcast to see what podcast they've been on. I remember what and Alix from Bev was on a few different podcasts and I just like, was like, tell me all of the things. And I learned so much just from listening to someone who was in a, like, business as mine. And now it's like, now there's so many podcasts on wine, on direct to consumer. We listen to a lot of DTC podcasts, which is amazing. That's all for people in the direct to consumer businesses. There's a podcast for everything. So there's really no, no excuse to be like, I don't know what to do. It's a matter of I want to see that you are putting in like four to six hours of research on the thing that you want to do. Like, go ahead, turn Netflix on, but have your laptop for like three, four hours in the evening, just researching everything. You're going to learn more than you can possibly imagine.
So, so, so good. That leads me into this next question too, which is how do you find the room that you should, should be in? And how do you get the women or men who inspire you to see you?
All right, so we're going to wrap on this question. I'm going to be brief on this one because how do you find the rooms that you need to be in? This again, is Googling. I mean, like, I have started and run businesses literally through Google. The thing is, is when you're looking for what rooms you should be in, there's so many events, events now, and there's so many people putting on events who are kind of like the leaders in your industry that if we're looking for alcohol events or things like that to learn about alcohol, not just drink it, that's all you have to Google is like beverage events or wine business events. And you can't imagine what comes up because so many people now are doing such good SEO that search engine optimization, that you literally can put anything in Google and a bunch of different things will come up. So when all else fails, find somebody in your industry and just DM them to death. Like they're going to end up answering you. So, you know, if I right now started DMing five people in the wine industry and DM them for a week straight, I would get an answer like, hey, where do you go to learn? Where do you go to network in the wine world? Where do you go in this world? And who do you know they're going to send you somewhere? And if you are not getting an answer, you're just not asking enough people or the right question because eventually you will get an answer. And then how do you get those people in that industry to notice you? Same thing that I just said, really asking a ton. But also when you ask, always ask if there's something that you can do for them. How can I add value to you? What are you working on Right now. And a lot of times, if people are ignoring you or looking away while you're talking to them, you probably either have a really needy energy about you or you're not being interested enough in them, or you're not asking how you can add value or trying to add value before you even meet them. So, you know, if there's a someone in the wine industry who maybe has a podcast, and I'm just like, hey, I want to be on your podcast. Hey, can you tell me all the things? And I'm not sharing their product a ton before I meet them, or I'm not leaving a great review for them on Amazon if I'm not commenting on their stuff all the time. Like, these are the ways that you get noticed. Comment on their stuff all the time. Share it. Drive your audience to it. Ask for a link so that you can help sell their stuff. Say, hey, I'd love to, you know, be an affiliate. Say, hey, I just shared this podcast with my community. It may be small, but it is mighty. Look at all these people sharing it. Hey, I have a small newsletter, but I really want to put your product in it. I notice these people, but if you just come at me and say, hey, I just found your podcast yesterday. I want to come on it, and here's why. Like, that's awesome. But you did not add any value to me, and you found me yesterday, so you saw, like, the numbers of people that listen, that just makes me feel shitty. So if that's what's happening and people are looking away or not returning the answers, that is why you need to show up and add value. Because we're all out here just trying to make it. Like, little do you know, you think people are just out in the world thriving. It is real out there and running a business and just trying to keep your mental health afloat while running a business is, like, so insane that we are really looking for people who are in equal energy exchange. Like, okay, I want to help you. How can I help you? But how can you also help me? And that's how I come at every single relationship is like, oh, my gosh, if I need something from someone and I feel like I can't help them, I will go to town and be like, what could we offer them? What do you need? What is it that you're trying to get out in the world so that I can help you as well?
One million percent. Yes. All right. You can feel the energy.
You can absolutely feel the energy. It's a very different. We was talking about this with Lauren because she teaches different classes and just the difference. And I used to, you know, teach classes as well, so I remember it really well, where sometimes people come up and they're like, I'm doing all the things, but it's not working. And you're like, like, yeah, but I'm watching you do the things, and you're not putting the effort in. And, you know, you're still. I see that you go to this place to eat afterward, and they're not doing all of the effort. So it's hard for you to want to give even more of yourself outside of what you've already given them, because you know it won't be applied, and they're not listening. So, you guys, I think the biggest thing is show all of the things that you're doing and that you've done. And people want to help. Go getters. Right? Like, you want to help people who are, like, seriously consistent in your world. Right?
So, so, so true. Yep.
All right, you guys, so we're gonna wrap. We are sending you so much love. Hopefully this helped. And again, you can text light pink, L I, T E p I n k two words. So you can text light pink to 310-496-8363. And not only will you get all of our awesome updates and quotes and all of the fun things and mantras, but Lauren also texts out asking if you have any questions. And you can send your questions back after she sends that prompt for the podcast so that we can answer it. So, so grateful for you. And until next time, earn your happy. Bye, everyone.
By.
Sam.
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